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alternative energy

Blowin' in the wind: Masdar, GE to build major wind farm in Oman

Renewable energy company Masdar has signed a deal with a consortium including US-based giant GE and Spain's TSK to build the first large-scale wind farm in Oman.

The engineering, procurement and construction (EPC) contract will see a 50MW wind power project being built in Dhofar.

It will provide enough power for 16,000 homes.

Sunday 20 August 2017- Express
culture

My Salaam: The issues shaping the lives and lifestyles of young Muslims around the world

It’s the thick of summer in the Middle East and we got in touch with our favourite fashion bloggers to tell us about the best modest fashion trends, outfit ideas and looks for summer. It’s one of our popular stories of the week!

We also interviewed Samir El Degwi, co-founder of Egypt’s first-ever women’s American football team Transforma Pink Warriors. Samir told us the popularity of women’s American football in Egypt continues to rise and is tackling stereotypes head on.

Saturday 19 August 2017- Express
saudi arabia

Salaam Gateway: All the latest news, insights from the global Islamic economy

As the annual haj approaches, Salaam Gateway turns to key issues affecting pilgrims. In Indonesia and India, the countries with the largest Muslim populations, different interpretations of Saudi Arabia's mahram, or male guardianship, ruling have been skewing the gender balance of pilgrim cohorts.

Indonesia has an agreement with Saudi authorities to allow female pilgrims without accompanying male guardians to be placed in a convoy with other females and act as each other's mahrams.

India, however, does not allow any haj applications from women without a mahram.

Friday 18 August 2017- Express
education

One million dirhams: The cost of educating a child in the UAE

Research by Zurich International insurance company in the Middle East concluded that the cost of educating one child from pre-school to university costs 938,599 dirhams ($255,749).

Zurich said the figure is based on the total cost of putting a child through two years of pre-school, six years at primary school, six years of secondary school and three years at a university in the United Kingdom.

Thursday 17 August 2017- Express
taxation

Excise Tax: UAE to implement tax on tobacco and energy drinks this year

The UAE will implement an excise tax at a rate of 100% on tobacco and energy drinks and 50% on fizzy drinks (excluding carbonated water) starting the fourth quarter of the year.

Saudi Arabia had already imposed an excise tax on tobacco, energy drinks and carbonated drinks starting last June, leading to a surge in the prices.

The UAE’s tax official said the excise tax law will be signed by the government in the third quarter, while its regulations will be released in the following quarter.

Wednesday 16 August 2017- Express
markets

Taking stock: IPO market slows in second quarter

Three IPOs were completed in the Gulf in the second quarter of 2017, which was one more than the corresponding period a year earlier, but much fewer than the 10 deals completed in the first quarter of the year.

Steve Drake, the head of PwC’s Capital Markets and Accounting Advisory Services team in the Middle East, said: “During Q2 2017, the Kingdom of Saudi Arabia continued to be the main driver of IPO market activity in the GCC, while the NOMU parallel market for small and medium-sized enterprises in the Kingdom remained popular among investors.”

Tuesday 15 August 2017- Express
retail

Spend, spend, spend: UAE consumer spending set to reach $261 billion by 2021

The Dubai Chamber of Commerce and Industry forecast on Monday that consumer spending in the UAE reached almost $183 billion last year, and is set to grow at a rate of about 7.5% per year over the next four years.

It said the UAE had the highest level of consumer spending per household of any Gulf country. Spending per household amounted to $103,000 in the UAE last year, with housing the biggest expense and accounting for 41% of total spending.

Monday 14 August 2017- Express
automotive

Coming soon? Dubai preparing rules for driverless cars

Dubai is currently working on a series of rules and requirements for self-driving cars, Gulf News reported on Saturday.

The latest news further demonstrates the emirate’s desire to implement driverless vehicles.  Dubai’s Roads and Transport Authority (RTA) had announced in June it will start trials of autonomous air taxis - or flying passenger drones - in the fourth quarter of this year.

Sunday 13 August 2017- Express
culture

My Salaam: The issues shaping the lives and lifestyles of young Muslims around the world

Some of the most popular stories on the website this week include a profile of an ex-Careem employee who has developed an app to resolve the infamous traffic jams in Egypt.

We also interviewed Emirati filmmaker Abdulla Al Kaabi, whose debut, Only Men Go to the Grave, hits the UAE cinemas on August 10.

Also, check out our stories on the secrets to a happy haj pilgrimage and tips to make your skin and hair survive summer.

Saturday 12 August 2017- Express
islamic finance

Salaam Gateway: All the latest news, insights from the global Islamic economy

In the Shariah-compliant financial industry this week, financial free zone Abu Dhabi Global Market (ADGM) and United Kingdom-based think tank the Responsible Finance & Investment Foundation (RFI) signed an agreement to partner on fintech initiatives that can boost financial inclusion in the Middle East and Africa.

Malaysia is also moving very quickly in the fintech space and has welcomed its first Shariah-compliant robo-advisor for investments. The downside to the advances in artificial intelligence (AI) in the financial sector is that it could endanger fund managers’ jobs even while it opens up new investment options for stakeholders.

Thursday 10 August 2017- Express
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