Oman has borrowed extensively in the international markets over the past few years to finance state spending
The bill is yet to be approved by the parliament’s upper house, which is expected to hold a similar session later this week
Bahrain also released a 33-page plan to fix its debt-burdened finances and abolish its budget deficit by 2022
The rate of job shedding eased since August, the monthly Emirates NBD PMI survey found
Private businesses have been hit hard by tax rises and by quotas and fees which make it more expensive to hire foreign workers
Oman’s external debt has increased rapidly in the last few years
The bank has predicted 2.7 per cent GDP growth in its last report three months ago
The travel and tourism and construction sectors saw softer growth in August
GCC governments need to “think logically” about how they balance the need to localise manufacturing, says report
Sources told Reuters that the Armaco IPO had been postponed indefinitely
Employment growth so far this year has been the ‘softest’ on record, finds monthly survey
Bahrain has projected a state budget gap of $3.5bn in 2018
Overall, the PMI declined to 55.8 in July from 57.1 in June – the lowest reading in three months
Xi Jinping made the first visit by a Chinese leader to the Gulf state in 29 years
GDP, adjusted for inflation, shrank 1.2 per cent from a year earlier
The draft offers investors exemptions from labour laws, real state ownership restrictions and other regulations
Job creation remained subdued in Dubai’s non-oil private sector in June
The GCC state’s currency and international bonds reached multi-year lows last week
UAE business conditions in June improve at ‘fastest pace’ so far in 2018, finds survey
For the whole of 2017, the kingdom’s GDP shrank 0.7 per cent
The dinar touched 17-year lows against the dollar
Bahrain’s dinar plunged to a 17-year low against the US dollar as hedge funds dumped Bahraini bonds
Hedge funds dumped Bahraini bonds because of concern about the country’s rising public debt
Earlier this month, Bahrain’s Council of Representatives rejected a proposed pension law
The kingdom began its crackdown on illegal residents in November last year
Ahmed al-Khatib was appointed in 2016 as chairman of the General Entertainment Authority
The Emirates will deposit $1bn in Ethiopia’s central bank to ease a severe foreign currency shortage
The UAE Cabinet has also added an insurance scheme in place of bank guarantees when recruiting private sector workers
Growth was driven by increased output, which rose at the fastest pace in 40 months during May
FDI inflows shrank to $1.4bn in 2017 from $7.5bn in 2016