Entries by Barry Prost

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 […]

Bahrain opens giant residential town, to house 90,000

His Majesty King Hamad bin Isa Al-Khalifa last night opened the biggest residential town in Bahrain – the Northern Town – in the presence of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa and HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier. He announced that the […]

UAE’s VAT move has gone well, inflation to moderate- IMF official

DUBAI- The United Arab Emirates’ introduction of value-added tax has gone smoothly and inflation, having jumped in response, will moderate, the head of the International Monetary Fund’s mission to the country said on Thursday. Natalia Tamirisa said the 5 percent VAT rate imposed at the start of this year was a big cultural and administrative […]

King Salman launches Qiddiya project near Riyadh

Riyadh — Custodian of the Two Holy Mosques King Salman officially launched on Saturday Qiddiya, the entertainment, sports and cultural destination that will be the first of its kind in the Kingdom. Spanning an area of 334 square kilometers, the new destination is just 40 kilometers west of the Saudi capital, Riyadh. The ground-breaking ceremony […]

Dubai among world’s top 3 model smart cities

Emirate has been taking a pioneering role in self-driving cars, automated ports, testing of delivery robots and drones and social robots among others. Dubai has been chosen among the world’s top 3 model smart cities, pioneering in different public and private services for the betterment of its residents. This thanks to a host of initiatives […]