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Kuwait woos foreign investors by dropping offset scheme

Kuwait is suspending a programme under which foreign winners of big government contracts are required to invest in the local economy, its finance minister

US shale boom ‘hurting Mideast petchem industry’

The increased competitiveness of the US petrochemical industry due to the discovery of large reserves of shale gas has impacted the Middle East, which is

Dubai to invest $20bn in power projects

Dubai plans to invest $20 billion in a range of power projects in a move to diversify the UAE emirate's energy mix by 2030, a senior official said.

GCC takaful contribution to hit $8.9 billion this year

GCC's gross takaful contribution is estimated to reach around $8.9 billion in 2014 from an estimated $7.9 billion last year, according to a new report.

Qatar rentals to rise 10pc annually until 2022

Qatar’s rentals are set to grow at an average rate of 10 per cent until 2022, with its fast-growing land value and rising construction costs, said a report.

Saudi to offer lowest solar energy costs

Saudi Arabia is set to offer some of the lowest low levelised cost of energy (LCOE), with solar power price levels more than four times less than in 2009

Gulf investments in aluminium to reach $55bn

Gulf investments in the aluminium sector are expected to reach $55 billion by 2020, compared to $30 billion in 2011, according to a new report.

Dubai Customs delivers 4.5m transactions in H1

The total number of transactions performed by Dubai Customs during the first half of this year (H1) grew 10 per cent to 4.5 million, compared to 4.1 million in the same

Dubai launches drive to ban smoking in public places

Dubai Municipality has launched a campaign to prohibit and control the use of tobacco in public

1.5m Saudis employed in private sector

About 1.5 million Saudi Arabian nationals were employed in the private sector last year, a rise of more than 332,000 compared to the previous year, said a report.

ME banks seize global expansion prospects

Banks which have the experience of operating in volatile markets, combined with their knowledge of how to reach unbanked and under banked population, are better positioned to achieve a successful expansion

Construction firms in UAE, Qatar hire Saudi expats

UAE and Qatar’s construction firms are hiring expatriate workers who have failed to legalise their work status in Saudi Arabia, said a report.
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