Saturday 25 October 2014
 
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Saudi non-oil sector posts big growth; UAE slumps

Non-oil private business activity in Saudi Arabia grew at the fastest pace in over three years last month, buoyed by strong expansions in new orders and employment, while the UAE’s business activity growth in the non-oil segment  fell

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Falcon Private Bank appoints new head

Falcon Private Bank, a leading Swiss private bank specialised in asset management for high net worth private clients and families, has appointed Erich Pfister as the new global head private banking, which will be effective from January next year

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1.5m Saudis employed in private sector

About 1.5 million Saudi Arabian nationals were employed in the private sector last year, a rise of more than 332,000 compared to the previous year, said a report. The kingdom’s Ministry of Labor pointed out that the increase

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UAE, Egypt top private equity investments in Mena

The UAE and Egypt led the number of investments in the Mena region last year with 20 per cent each, followed by Lebanon with 18 per cent, according to a recent report.   The ‘Mena Private Equity and Venture

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Private sector to 'boost opportunities for power deals'

The increasing role of the private sector in both power generation and water could boost opportunities for large-scale transactions in Mena in the future, according to an EY report.   The leading professional ser

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Bahrain hospital blames unpaid bills in wages row

A private hospital in Bahrain has blamed non-payment of medical bills by patients for delays in paying its own staff.   The cash crunch at the International Hospital of Bahrain (IHB) has resulted in 23 doctors an

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Saudi firms ‘must provide medical cover for expats’

Saudi Arabia’s Co-operative Health Insurance Council has urged all private businesses to provide compulsory medical insurance for expatriate employees and their families, said a report.   The employment con

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Major housing project to be launched in Bahrain

A major housing project in partnership with the private sector is to be announced soon in Bahrain.   It is part of a mega project including the construction of four new cities at a time to fulfill housing needs a

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Bahrain hails role of private sector

Bahrain's Premier has commended the pivotal role of the private sector as an essential partner and key pillar of government-led economic development.   His Royal Highness Prime Minister Prince Khalifa bin Sal

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Saudi govt doctors working in private clinics warned

Saudi Arabian authorities have issued an official notice to private hospitals and medical centres not to recruit doctors and health practitioners working with the government, said a report.   The directives also

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