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UAE-based IBC Group to acquire 10,000 holiday homes in Dubai

IBC Group, an UAE-based investment company, is planning to acquire 10,000 holiday homes in Dubai, according to an announcement made by the company yesterday. The...

Fujairah’s refined oil product stocks see eight-week high

Fujairah’s refined oil product stockpiles saw an eight-week high with a 10% jump to 21.253 million barrels in the week to Aug 12, Fujairah...
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P&O cancels its Winter 2019/2020 programme for Arabian Gulf, Dubai

As the crisis in around the Strait of Hormuz shows no sign of abating, P&O Cruises has taken what it calls an “unusual step”...
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China CNPC extends Oman oil production contract for 15 years

China CNPC has extended its contract for developing an aged oilfield in Oman for another 15 years, Reuters quotes Chinese state oil and group...
Mobile Phones

Cisco Mobile Networks to Support 1 Billion Mobile Users in MEA

The Cisco Predictions for Middle East include that Mobile Networks Will Support More Than 1 Billion Mobile Users in MEA by 2022 According to this...
Martin Tricaud HSBC

HSBC Appoints New Regional CEO for MENAT

HSBC has appointed Martin Tricaud as Chief Executive Officer for the Middle East, North Africa and Turkey (MENAT) region, with effect from 1 June,...

GCC sees a 4.2% increase in consumer goods prices in 2018

Over the 12 months to October 2018, price change for consumer goods and services (excluding housing) in the Gulf Cooperation Council (GCC) countries rose by 4.2%,...
audi Arabia's Crown Prince Mohammed bin Salman

Saudi Arabia Plans Red Sea Pact as Gulf Interest in Africa Grows

Saudi Arabia wants to bring several states lining the Red Sea and Gulf of Aden into a bloc to improve trade and maritime navigation,...
Middle East

GCC economies to grow by 2.4 percent in 2018

IMF says GCC economies to recover strongly in 2019 Overall energy price recovery would spur GCC economies to grow by 2.4 percent in 2018 and...
gcc tourism

Economic diversification and a focus on tourism is the way for GCC

GCC will experience a 125% growth in Russian visitors by 2023, as predicted by Colliers International. A boost to the economy contributed by diversifying and...