What’s next for Oman’s economy?

As Sultan Haitham bin Tariq Al Said takes charge in Oman, Georgia Tolley describes the challenges the GCC state faces and potential ways ahead

Saudi Aramco slashes oil prices in Asia as virus causes demand shock

The coronavirus managed to wipe out 20 per cent of oil consumption in China

China to halve tariffs on $75bn US goods from February 14

Chinese tariffs on American goods from September 1 last year will be lowered, with the rate on some dropping from 10 per cent to 5 per cent

Saudi healthcare firm is said to seek up to $700m in IPO

The book-building process for the IPO will start on February 10 with the shares being priced on February 20

Three dead after Boeing 737 jet splits open on landing in Turkey

According to reports, 179 people have been injured in the accident

Profit at Abu Dhabi's Mubadala climbs 12.4%

Mubadala to weigh buying Jadwa’s UAE healthcare assets

Jadwa owns a 42 per cent stake in Abu Dhabi-based United Eastern Medical Services LLC

Dubai waives certain government service fees to lower living costs

Some of the fees waived include those in the healthcare sector

Bahrain’s Investcorp posts 17% drop in half-yearly net profit

The Bahraini investment firm posted net income worth $48m for H1 FY20, slipping 17 per cent compared to $58m for H1 FY19

Dubai airport retains title as world’s number one for international passengers

The airport welcomed over 86.3 million passengers in 2019, down 3.1 per cent compared to 2018

Dubai’s ENOC to open 22 new service stations across the UAE in 2020

ENOC plans to expand its retail network from its existing 136 service stations to 193 across the UAE by end of 2021

Affordable housing accounts for 41% residential sales in Dubai in 2019

The emirate registered 15,516 deals of residential properties valued below Dhs1m in 2019

Saudi says inbound visitors must reveal China travel history prior to arrival

All inbound travelers to the kingdom must disclose if they travelled to China during the 15 days prior to their arrival

Saudi fund sold almost all of Tesla holding in Q4 2019

The Saudi Arabia Public Investment Fund held just 39,151 shares at the end of 2019

OPEC+ consults China for urgent analysis of virus threat to oil

The JTC’s assessment may help determine whether the 23-nation alliance convenes an emergency ministerial meeting later this month

New Dhs200bn utility company under consideration in Abu Dhabi

The new entity will have total assets worth Dh200bn, with more than 85 per cent of its revenue coming from regulated and contracted businesses

‘Bonafide’ Indian workers in UAE will not pay income tax in India

India’s Finance Ministry issues clarification following its proposal for the Finance Bill 2020 last week

Dubai Aerospace secures $300m, five-year loan

The unsecured term facility will contain a conventional and an Islamic tranche, and can be upscaled to $600m

Will IBM’s new CEO Krishna build on his predecessor’s legacy?

Arvind Krishna has led the development of many of IBM’s newer technologies like artificial intelligence, cloud and quantum computing

UAE halts all flights to China, except Beijing

Passengers travelling from Beijing International Airport will be expected to undergo a 6-8 hour comprehensive medical screening at the airport

Abu Dhabi builder holds talks to revamp $545m in debt

Al Fara’a is active in the oil and gas, steel, interiors and concrete verticals, and has worked on several mega-projects across the Middle East

Shallow gas reserves discovered between Abu Dhabi, Dubai

The discovery of the reserves was made within an area of 5,000 square kilometers between Saih Al Sidirah and Jebel Ali in Abu Dhabi and Dubai respectively

Uber, Dubai Culture partner to promote Dubai’s heritage

The second edition of Hidden Cities: Dubai will leverage the experiences of Dubai’s cultural leaders and storytellers, and encourage people to discover hidden places within the emirate

Abu Dhabi’s twofour54 appoints new CEO

Garin served as the CEO of Image Nation Abu Dhabi since February 2011, prior to joining twofour54

UAE shows solidarity with China on coronavirus epidemic

The coronavirus, commonly referred to as the Wuhan virus, caused 361 deaths in China with confirmed cases in the country at 17,205

Dubai posted 34% rise in registered trademarks in 2019

A total of 5,157 trademark files were registered at Dubai Economy in 2019 compared to 3,844 in 2018

Iraq appoints new prime minister

The appointment took place following the resignation of Adel Abdul-Mahdi

UAE’s ministry of health launches blockchain platform

The new project will help streamline search for health facilities and its licensed medical and technical personnel, and their expertise, using the MoHAP App

Oil slumps 16% in January; off to slowest start since 1991

The plunge in oil prices has prompted a push led by Saudi Arabia for the Organization of Petroleum Exporting Countries and its allies to hold an emergency session in February

US lifts sanctions on unit of China’s biggest shipping company

In September, restrictions were levied on the Dalian units of China COSCO Shipping Corp., which increased freight rates considerably

UAE reports 5th case of coronavirus; Etihad airways suspends Beijing-Nagoya flight

The new case of the virus is that of an individual who flew into the UAE from the Chinese city of Wuhan