Positive sentiment in the non-oil private sector reached its highest in at least six years
The introduction of the tax has led to an increase in inflation,while PMIs have dipped
A total of 2,778,000 people were employed in the emirate last year
Further measures are needed in Bahrain to avoid a slowdown in economic growth, says official
New decree cancels fines imposed by the Department of Economic Development through the end of 2018
Non-oil economic activity grew by 3.1 per cent year-on-year in the first quarter
Apart from Dubai and Oman, the wealthy Gulf oil exporting states have minimal trade and investment links with Iran
However, monthly survey finds “strong and robust expansion” in business activity in Dubai’s private sector
The rate of growth of job creation dropped to its slowest since June 2017
Spending has been projected at Dhs51.4bn, a rise of 5.6 per cent from 2017
Saudi banks have reportedly frozen more than 1,200 accounts on the central bank’s instructions
The kingdom planned to eliminate the budget deficit by 2020
Created in May, Saudi Arabian Military Industries is backed by the Public Investment Fund
The project is being developed in the Umm Ramool area by DAFZA and wasl
The 26,500sqkm business and industrial zone will extend into Jordan and Egypt
Foreign musicians are also expected to perform at the festival
The 26,500 square km zone, known as NEOM, will focus on industries
The slump is a threat to Saudi’s ambitious economic reforms
Survey also finds that 63 per cent expect their family’s financial position to “improve” in the next six months
The country’s non-oil sector is expected to grow 3.5 per cent next year
Riyadh plans to sell about 5 per cent of Aramco in 2018, to raise money for reinvestment in non-oil industries
The new Egyptian capital is under construction in the desert some 45km north of Cairo
The report attributed the change to the Omani government’s reduced capacity to support banks
Heralding major reforms, Saudi Arabia’s Vision 2030 programme was launched with much gusto last year. Has there been significant progress?
Several initiatives have been launched under the Vision 2030 reforms programme
Oman has borrowed over $10bn this year to replenish coffers hit hard by lower oil prices
The overall non-oil economy posted the strongest growth in three months, finds survey
The sultanate has already raised $7bn from international bonds this year
The agency blamed the downgrade on Oman’s continuing reliance on the oil sector
Easing of visa restrictions on Indian, Chinese and Russian tourists helped boost business confidence, finds survey