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UAE: Abu Dhabi approves $64m worth of projects The approved projects include a $6m maintenance initiative for Abu Dhabi Corniche.

UAE: Abu Dhabi approves $64m worth of projects

The Abu Dhabi Executive Committee at the Executive Council has approved $64m worth of infrastructure projects for the emirate


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UAE: Depa records 5% revenue increase in 2016

UAE: Depa records 5% revenue increase in 2016

Depa Limited announced that its revenue increased from $446.68m in 2015 to $471.10m in 2016, registering a 5% year-on-year growth
 
Emaar Malls shares dip amid Souq.com bidding

Emaar Malls shares dip amid Souq.com bidding

Emaar Malls shares fell 0.78% on the Dubai Financial Market yesterday to close at $0.69 after news reports said the retailer was offering to pay $800m for Souq.com
 
Foundation work completed on Emaar's The Tower

Foundation work completed on Emaar's The Tower

Emaar Properties has announced the completion of the pile foundations for what will be the world’s largest building, The Tower, upon completion in 2020
 
VAT to raise construction costs from January 2018

VAT to raise construction costs from January 2018

The Value Added Tax to be implemented by six GCC governments next year will result in an increase in all construction costs and property prices, expert says
 

 

Dubai ranks ninth in global hotel room supply

Dubai ranks ninth in global hotel room supply

Dubai has been ranked ninth in a global survey as among the top 10 cities with the largest supply of hotel rooms in the world
 
UAE’s Sharjah saves 29MW of electricity in an hour

UAE’s Sharjah saves 29MW of electricity in an hour

The UAE emirate of Sharjah was able to save 29MW of electricity and reduce its carbon emissions by 17 tonnes during Earth Hour, held on 25 March
 
Goldman Sachs in talks for Saudi Arabian license

Goldman Sachs in talks for Saudi Arabian license

Goldman Sachs Group Inc. is holding a preliminary meeting for an equities license in Saudi Arabia
 
Oman: End of Q3 2016 FDI inflow exceeds $18.2bn

Oman: End of Q3 2016 FDI inflow exceeds $18.2bn

Foreign direct investment in Oman went over $18.2bn at the end of the third quarter of 2016, after the sultanate saw its FDI inflow for Q3 hit the $400m mark.
 
Siemens to help develop Qataris’ tech skills

Siemens to help develop Qataris’ tech skills

An agreement has been signed by Siemens and the Ministry of Transport and Communications in Qatar to advance tech capabilities among Qatari nationals
 
OPEC chief calls for conformity on output deal

OPEC chief calls for conformity on output deal

OPEC has asked its members to ensure full conformity to individual production limits set under the producer group’s output deal last year
 
Oman signs agreement for $1bn tourism complex

Oman signs agreement for $1bn tourism complex

As part of its efforts to develop the sultanate's east coast, the Ministry of Tourism of Oman has signed an agreement with Quriyat Development Company for the construction of a $1bn tourism complex
 
UAE infrastructure expenditure to rise in 2017

UAE infrastructure expenditure to rise in 2017

Major industrial infrastructure investments recently launched by the UAE government are expected to push expenditure this year, according to a Knight Frank report
 
ENEC switches off for Earth Hour

ENEC switches off for Earth Hour

The Emirates Nuclear Energy Corporation (ENEC) participated in the annual Earth Hour as a way to promote its role in a more sustainable future
 
Kuwait fund loans Lebanon $36.9m for water supply

Kuwait fund loans Lebanon $36.9m for water supply

The Kuwait Fund for Arab Economic Development (KFAED) has entered into a loan agreement worth $36.9m (KWD11.2m) with Lebanon, to be used on water projects for the country
 
Schneider Electric’s Gulf team hosts USC students

Schneider Electric’s Gulf team hosts USC students

Schneider Electric hosted a delegation from the University of Southern California (USC) in early March 2017 at its offices in Dubai
 



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