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Italy in recession amid sluggish eurozone
Italy's economy tipped into recession at the end of last year, according to latest figures. ...
The Middle East's Once-Hot LNG Market Faces a Decade-Long Slump
The Middle East was a bright spot for global liquefied natural gas demand in 2015. Now imports have plummeted so much that it could take a decade to recover. ...
Middle East an important market for Cleartrip's expansion
India-based Cleartrip is reportedly looking at expanding its Middle East operations through acquisitions and organic growth. ...
Mammoet expands tug and barge services in GCC with Astro
Both companies are major players in the transportation market for oversized cargo and are pre-qualified with the main EPC contractors around the globe. ...
UAE economy to fare well on higher infrastructure spend
The UAE economy fared better in the last quarter of 2018 as compared to previous year and will perform better in 2019 as well on the back of higher infrastructure spending, less monetary tightening and other non-oil activities, professionals and business executives said. A new survey conducted by the Association of Chartered Certified Accountants and Institute of Management Accountants has shown that overall confidence was higher in fourth-quarter of 2018, recovering some of the ground lost in the previous quarter. ...
Swiss lead campaign to support Middle East entrepreneurs
Swiss foreign minister Ignazio Cassis has unveiled plans to help entrepreneurs in the Middle East to set up businesses. He is asking other countries to contribute to the scheme aimed at boosting the economies of the region. ...
Middle East merger and acquisition deals value climbs 50% boosted by mega transactions
The value of merger and acquisition deals in the Middle East soared 50 per cent year-on-year in 2018 as the number of transactions valued at $1 billion (Dh3.67bn) or more climbed, with the UAE claiming the top spot. ...
WEF: Dubai shows the way to growth in Middle East
Emirate a global magnet for international firms, helping transform plans and ideas to reality ...
Two Gulf Banks Close to Deciding on Mega Merger
Kuwait Finance House and Bahrain’s Ahli United Bank BSC’s boards will meet this week to consider valuation reports on a potential merger, a deal that would create the Gulf’s sixth-biggest lender with $92 billion in assets. ...
Bahrain got first funds from GCC aid last year
Bahrain has received the first instalment of a $10 billion aid package pledged by its Gulf allies last year, its central bank governor told Bloomberg TV in an interview. “This has been within the programme we have agreed. The first payment was last year and I think this year this will continue,” Rasheed Mohammed Al Maraj said in Davos. ...
BAE Systems sells control of vehicles arm to Rheinmetall
British defence giant BAE Systems has sold a majority stake in its Land UK tank and combat vehicle division to German rival Rheinmetall for £28.6m. ...
GCC states to focus on more diversification
The global economy will see slower growth in 2019, but the overall outlook remains positive for the GCC, with many countries such as the UAE focused on their diversification strategies, experts said. ...
UAE is the most attractive IT market in MEA, Fitch Solutions says
The Emirates has scored 68.4 points out of a potential 100 in the new regional index ...
Saudi bonds to join JPMorgan index in $119B Gulf addition
Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, potentially paving the way for billions of dollars in inflows into the securities. ...
Saudi Arabia to build oil refinery in South Africa
Saudi Arabia is planning to build an oil refinery in South Africa, as part of a huge investment in the country. Saudi Arabia’s Minister of Energy, Khalid Al-Faleh, said yesterday that the Kingdom is planning to build an oil refinery and petrochemical factory as part of investments worth tens of billions of dollars in South Africa, Reuters reported. ...
Nissan says Ghosn received $9m in improper payments
Nissan and Mitsubishi have said Carlos Ghosn received "improper payments" totalling €7.8m ($8.9m; £6.9m) from a joint venture between the carmakers. ...
Passport
the passport ...
Nuclear plant in Anglesey suspended by Hitachi
Hitachi has said it will suspend work on a multi-billion-pound UK nuclear project because of rising costs. ...
Global sukuk issuances to reach up to $115bn in 2019 with oil wild card
The global issuance of Sharia-complaint foreign and local currency bonds this year is expected to reach as much as $115 billion (Dh422.1bn), the same level of 2018, with oil prices being a determining factor of total size of sales, according to S&P Global Ratings. ...
London business district keeps Gulf partners close ahead of Brexit
Fintech and green finance will be high up the agenda of Lord Mayor of London Peter Estlin – who represents London’s financial district – as he visits Abu Dhabi, Dubai and Kuwait City next week to discuss new opportunities for collaboration. ...
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