Its Q2 net profit was also up 2.2 per cent to Dhs750m compared to the similar period in 2018
State revenue was KD20.5bn in the year to March 31, 2019, compared to the KD15bn that had been projected
The government collected $39.83bn in taxes in the 2018/2019 fiscal year
The sale is one of the first privatisations the kingdom is planning
While not at risk of a credit crunch, Oman has been downgraded to junk by all major credit rating agencies
The emirate’s GDP totalled Dhs207bn ($56.4m) in the first quarter
The Saudi economy, the largest in the Middle East, has suffered in recent years because of low oil prices and austerity measures
The law introduces flexibility in the price of contracts and compensations in the case of increases in raw material prices, custom duties and taxes
The new decision is hoped to help create thousands of jobs and stimulate the kingdom’s economy
Oil sector grew at 1.3 per cent in the first quarter and non-oil sector expanded at 4.1 per cent
The ministry has also reduced the fees for some services as part of efforts to boost business activity in the country
The move is aimed at supporting business owners and investors in the country
Staffing fell in tourism and recreation as well as construction, but rose in wholesale and retail
Oman’s state coffers have been hit hard by a slump in oil prices over the past few years
The 10-day event was held in March, with 200 nations, 7,000 athletes and 20,000 registered volunteers taking part
The agreement includes a $6bn deal between Saudi Aramco and Korean firm S-Oil
Ecotourism incentives, SME loans and instant licences are among the new initiatives
Real estate, leasing and business services accounted for 35 per cent of the new licences issued in May
While prices for housing, water, electricity, gas and fuel fell, prices for food and drinks and education rose
Dubai’s DED issued 9,489 business licences between January to April, up 35 per cent year-on-year
Employment growth continued to remain marginal in May
The expected deals will be in sectors that include rain silos, medical and shipping services
It seems more likely than not the downturn will deepen in the next six months unless action is taken to turn it around, writes Reuters columnist John Kemp
Although both new orders and business activity increased, employment and salary growth remained broadly unchanged
The kingdom’s economy grew by 2.2 per cent in 2018, compared to a decline of 0.7 per cent in 2017
Economic growth from the oil sector is expected to be 2.7 per cent, against 2.8 per cent last year, because of lower production
The move covers services provided by the ministries of Interior, Economy and Human Resources and Emiratisation
Dubai was one of the worst-performing markets globally last year, but has rebounded somewhat this year
Housing, water, electricity, gas and fuel prices were down 7.8 per cent from a year earlier
The government has been preparing the debt sale for quite some time