Wednesday 24 August 2016
 
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Spending

Enjoy a 'secure' holiday with Mastercard

Whatever travellers are looking for from their vacation this holiday season, whether it’s sunshine, relaxation, adventure or exploration, having an experience that is hassle free, secure and enjoyable will be high on anyone’s priorit

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Millennial tourists generate over $180bn in tourism revenue

Millennial tourists generate more than $180 billion in annual tourism revenue, an increase of nearly 30 per cent since 2007, the United Nations had revealed. Highlighting this point, Mazagan Beach and Golf Resort, a leading touris

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Flagging non-oil business dampens outlook for Gulf

Economists have cut growth forecasts for most of the rich oil exporting countries of the Gulf as non-oil business activity slows because of government austerity measures, a quarterly Reuters poll found. Last year, growth in the si

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Iraq to cut 2016 spending, take on billions in foreign debt

Iraq, pressured by lower-than-expected oil prices, will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo which the International Monetary Fund released on Thursday

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Big oil’s $45bn new projects signal spending revival

Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead.

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Global cancer drug spending to top $150bn by 2020

Worldwide spending on cancer medicines will exceed $150 billion by 2020, driven by the emergence of expensive new therapies that help the immune system to attack tumours, according to a global oncology report released by IMS Health Holdings on T

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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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$2 trillion projects in pipeline in GCC

The pipeline of projects planned in the Gulf Cooperation Council (GCC) states as of May 2016 amounts to $2 trillion, it was revealed at a summit of construction sector leaders in Dubai, UAE. Delegates attending the Meed Constructi

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UAE domestic card spends jump 12pc in Q1

Domestic card spends in the UAE increased by 12 per cent in the first quarter of 2016 compared to the same period last year, according to a report on consumer card spends by Network International, a leading payment solutions provider in the Mena

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Iraq aims to pump 6 million bpd in 2020

Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts. Iraq is

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