KhaleejTimes - Business News Feed
Updated: 1 hour 35 min ago
The GCC's retail market is poised to reach $221 billion by 2015 at an annualised growth of 7.9 per cent for the period 2012-15, mostly driven by food and beverages sector, or F&B.
Gulf countries' investments in the power sector is estimated to reach $250 billion in the next five years due to massive development and rapid growth, according to a latest study.
The International Monetary Fund said on Friday that despite the recent gains in paring the deficit, the US government's long-term debt profile remained unsustainable.
Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organisations, said the UAE is a major market for the company in the Middle East and it expects more than 50 per cent growth in its channel partners as part of its aggressive expansion strategy in the region, according to a top official.
Al Habtoor Motors, a leading name in the UAE's automotive sector, has undertaken a fresh initiative towards road safety with the launch of its new product Fix & Go in the UAE.
The World Bank cut its global growth forecast for this year after emerging markets from China to Brazil slowed more than projected, while budget cuts and slumping investor confidence deepened Europe's contraction.
Abu Dhabi's two realty giants Aldar Properties and Sorouh Real Estate have applied to the Abu Dhabi Executive Council for getting its nod on the proposed merger, which is expected to go into effect between June 20-30.
The 3M Company, a US multinational conglomerate, is set to outpace the regional economic growth by two to three times in 2013 as it sees brighter prospects ahead for new market forays in Africa and elsewhere in the Middle East region.
Online advertising in the Middle East and North Africa region (Mena) is growing at 37 per cent per year to hit $2.8 billion in 2016, industry experts said.
The upgradation of the UAE bourses to MSCI Emerging Market status reflects the strong market fundamentals, which have attracted global fund managers to the region.
The eleventh edition of Automechanika Dubai opened on Tuesday, at the Dubai International Convention and Exhibition Centre, attracting major international players interested in conducting business in the region.
Dubai, home to Earth's three tallest buildings, witnessed the opening of the world's highest twisted tower late on Monday. Cayan Real Estate Investment and Development Company inaugurated the Dh1 billion Cayan Tower, formerly named Infinity.
Dubai's economy continued to record strong recovery in 2012 as its gross domestic prodcut jumped 4.4 per cent, the highest growth since 2009, the government's statistics centre said on Tuesday.
Engine trouble grounded a Dreamliner in Japan on Wednesday, its operator said, marking the third straight day of problems for Boeing's next generation plane after months of difficulties.
The Indian rupee rebounded to 57.88 against a dollar on Wednesday, after hitting a record low of 58.98 in the previous day, on interventions from the government and the Reserve Bank of India.
Dubai's property market is picking up and offering good returns to investors, according to a top official of the emirate's property regulator.
India's rupee on Monday hit a record low against the dollar amid growing concerns over a struggling economy and a widening current account deficit.
Citibank will no longer be part of the panel of the Emirates Interbank Offered Rate, or Eibor, the group that fixes the interest rates charged by lenders for interbank transactions.
Deyaar Development, or Deyaar, is set to launch two new projects in the next six months and is planning to open sales for another major development, according to its top official.
As the bus of the Dubai Chamber of Commerce and Industry's trade mission delegation rolled out of Tashkent International Airport, the eyes of the people in the area followed it. Standing out - and arguably largely unnoticed - were two young girls; one of them gave a bashful smile and waved towards the vehicle.