Wednesday 29 June 2016
 
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Saudi Arabia approves 100pc foreign retail ownership

In a major move, Saudi Arabia's cabinet has given approval to a rule allowing foreign investors to own 100 per cent of the retail and wholesale businesses in the kingdom, the official SPA news agency said. The cabinet had earl

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Saudi tourists spend $7.4bn abroad annually

Saudi Arabian tourists are among the highest spenders while travelling, registering more than SR30 billion ($7.4 billion) annually, with 72 countries offering the kingdom's citizens the option to travel visa-free, said a report.

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Saudi Arabia central bank net foreign assets fall $6bn

Saudi Arabia's central bank, which serves as the kingdom's sovereign wealth fund, reported a fall of $6 billion in net foreign assets in March as low oil prices took their toll. Net foreign assets held by the central bank

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Abu Dhabi non-oil foreign trade hits $46bn, up 11pc

The non-oil foreign trade volume through various customs ports in Abu Dhabi last year hit Dh169.11 billion ($46.04 billion), a 11 per cent increase as compared to the total volume in 2014.   The volume of imports

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India launches e-visa system for 150 countries

Travellers to India can forget about queueing up in front of the embassy to get a visa as the electronic tourist visa system has now become valid for 150 countries. "We have expanded the e-Visa to all major travel destination

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Iraq to pay $2bn in arrears to foreign companies

Iraq will pay foreign oil companies about $2 billion in remaining arrears for 2015 this April and expects to reach an agreement over contracts by half-way through the year, the deputy oil minister said.   Interna

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4 Foreign nationals held in Bahrain for illegal entry

Bahraini police has confirmed that four foreign nationals, including one who was masked and taking part in an unlawful gathering, were arrested on Sunday (February 14), said a report by the Bahrain News Agency. They were held on c

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Measures to attract foreign investors to Dubai in focus

The measures being taken to attract more foreign investors to Dubai and the steps to achieve this will be among key highlights at the upcoming Dubai Forward.   The event will run from February 15 to 17 at Mina A&

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Saudi eyes foreign non-oil investment as crude slumps

Saudi Arabia aims to at least double annual inflows of foreign direct investment (FDI) over the next 10 years by focusing on new sectors such as mining, health care and information technology, the head of its investment agency said on Sunday.

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Emirates Islamic offers free fund transfers

UAE-based Emirates Islamic has launched a promotion which offers its customers free foreign currency fund transfers. Additionally, customers will also get cashback on their foreign currency transfers. Clients can get up to Dh 200 cashba

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