Entries by Barry Prost

Cost of living in UAE drops as rents fall

The cost of living in the UAE continued to drop in the first-half of 2018, thanks to fall in rents, lower government public service fees, freeze and reduction in school fees and, most importantly, rising strength of the dirham against major currencies. It also improved residents’ purchasing power and quality of life. According to mid-year […]

Saudi Arabia boosts fintech drive with UAE and Bahrain talks

LONDON – Saudi Arabia is discussing a coordinated approach to the regulation and nurturing of fintech startups with the UAE and Bahrain. Such discussions form part of the Kingdom’s attempts to boost its nascent fintech ecosystem and to encourage the increased adoption of technology by incumbent lenders. Discussions with central banks in the UAE and […]

UAE economy likely to rebound in 2018

This will be driven by oil prices, an expansionary fiscal stance and an upswing in investment The UAE economy is expected to grow faster in 2018, driven primarily by recovering oil prices, an expansionary fiscal stance and an upswing in investment ahead of Expo 2020. Analysts at the Institute of Chartered Accountants in England and […]

Saudi women driving could add $90bn to economy by 2030

Allowing Saudi women to drive could help the kingdom reap as much income as selling shares in Saudi Aramco. The move, which went into effect on Sunday, could add as much as $90bn to economic output by 2030, with the benefits extending beyond that date, according to Bloomberg Economics. Selling as much as 5% stake […]

Bahrain foreign direct investment grew 114% in 2017

Inflows of foreign direct investment (FDI) to Bahrain rose 114 percent in 2017, the fastest growth rate in the GCC, according to new data from the United Nations Conference on Trade and Development (UNCTAD). The growth of FDI in Bahrain came even as global FDI fell 23 percent. In a report, UNCTAD noted that the […]

Saudi economy returns to growth on back of oil price rises

Capital Economics says Saudi economy grew by 1.5% in the first quarter, after having contracted by 0.7% in 2017 Saudi economy returns to growth on back of oil price rises Capital Economics says Saudi economy grew by 1.5% in the first quarter, after having contracted by 0.7% in 2017 The Saudi economy pulled out of […]

Dubai property market expects mid-term rebound

In mid-April the Dubai Land Department (DLD) issued its quarterly report on real estate transactions, which showed there had been 13,759 sales, mortgage agreements or other deals conducted in the first three months of the year. The total value of the transactions reached Dh58bn ($15.8bn), with the bulk of that figure – Dh30.6bn ($8.3bn), or […]

Bahrain tops Middle East for work-life balance – survey

Bahrain is the second best country in the world for expat work-life balance, behind only Denmark, according to a new report from InterNations. In its “Expat Insider” survey – which queried over 12,500 respondents in 188 countries – InterNations found that 46 percent of expats cited work-related reasons for moving to Bahrain, while 69 percent […]

U.A.E. Backs 100% Foreign Ownership of Local Companies

The United Arab Emirates is abandoning decades of restrictions on foreigners owning companies and settling in the Gulf country to help lure money and talent in a slowing economy. The new rules, reported by the state-run WAM news agency, include allowing non-Emiratis to control a company outright and offering residency of up to 10 years […]