With Dubai winning the World Expo 2020 bid, the emirate will need approximately $43 billion to significantly upgrade its infrastructure according to a research report by Deutsche Bank.
This spending, estimated to be equivalent to
Online advertising expenditure in Mena, estimated to be around $300 million today, is growing rapidly at 37 per cent a year and the spending is expected to reach $1 billion in 2017, a report said.
Digital branding and advertising
Dubai's success in bidding to host the 2020 World Expo will trigger billions of dollars of investment in the emirate, analysts have predicted.
After competing against three cities, Dubai was awarded the world's fair by the
Dubai plans to boost its government spending by 11 percent next year to the highest level since its property bubble burst in 2008 as it launches new infrastructure projects, a senior government official said on Monday.
At the same
The Arab world's energy exporting states are not saving enough of their oil windfall and as a group may start running a fiscal deficit in 2016 if current policies do not change, the International Monetary Fund warned on Tuesday.
Kuwait should contain current expenditures such as the public sector wage bill and generalised subsidies, and find ways to enhance non-oil revenues, to overcome the risk from eroding buffers, said a top official.
The challenges ca
Morocco will cut its 2013 investment spending by at least 10 billion dirhams ($1.2 billion) to keep the budget deficit close to 5.5 per cent of gross domestic product as promised to international lenders, according to an official document.
State-owned companies in Qatar must now seek approval from the Ministry of Finance before undertaking any borrowing activity, banking sources said on Tuesday, as the country looks to avoid unsustainable debt levels in a rush for growth.
Kuwait's prime minister has called the state's welfare system unsustainable and said the major oil producer needs to cut spending and the consumption of its natural resources.
In some of the strongest comments yet from a s
The United Arab Emirates has approved a federal budget of 46 billion dirhams ($12.5 billion) for 2014, half of which will go for development and social benefits, Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum said.