GCC MENA Edition

economy

Invest in poor rural areas to curb exclusion, quash extremism- UNDP

UNDP, a U.N. agency with about $5billion in donor contributions a year, was seeking to boost investments in remote rural areas

construction

Saudi Binladin Group to be slimmed down, renamed- sources

The moves would be the first in a broad restructuring planned for Saudi Arabia's biggest builder

bahrain

Bahrain government seeks deal with parliament on new subsidy system

It is not yet clear whether the new system would reduce the state's overall subsidy burden, they said.

oil and gas

Russia's Novak to meet Russian oil firms to discuss oil output deal

Novak said the meeting could take place either next week or the week after.

markets

Nasdaq Dubai's move to offer Saudi futures welcomed by market analysts

Participants believe move could inject impetus into a thus-far moribund regional derivatives market

oil and gas

Saudi Arabia, Russia have common position on oil deal- Novak

Novak also said he believed average oil prices would stand at over $60 per barrel in 2018.

currencies

Time for NRIs in GCC to remit: Indian rupee in free fall

Rupee depreciation has resulted in a substantial increase in remittances to India.

currencies

Bahrain central bank's foreign assets rebound in April

Net foreign assets at Bahrain's central bank rebounded last month after dropping to a seven-month low in March.

saudi arabia

Saudi billionaires' pockets hit after corruption crackdown - survey

Wealth-X Billionaire Census finds Dubai retains its place among the 10 top cities where the world's wealthiest reside

taxation

Saudi Arabia scores high on prices and tax efficiency, IMD survey finds

Saudi Arabia ranks second in the world for pricing of goods and services, according to IMD survey.