Qatar has faced criticism of its treatment of foreign workers from Amnesty International, the Building and Wood Workers’ International organisation
Politics
Saudi Arabia pledges big projects to soften austerity hit
Sources say Gulf kingdom will launch major development projects towards the end of 2017
“He was my hero,” Ayman Hariri on his late father
In a rare interview, Ayman Hariri reveals the raw grief he still experiences 12 years after the assassination of his father, former Lebanese prime minister Rafik Hariri, and the lessons he learnt that have inspired him to take on formidable social media giants.
Bill Gates praises Abu Dhabi Crown Prince for his polio eradication work
Philanthropist says Middle East youth will surprise people with positive results
UAE approves new visa scheme to lure top foreign execs
Cabinet backs integrated entry visa scheme, with first phase targeting professionals in tourism, health and education sectors
Abu Dhabi allocates $31m for Al Ain’s ‘intelligent’ transport system
Executive committee approves total of $82m for new projects including housing and public parks
Major challenges remain to Gulf’s move away from oil, says S&P
Ratings agency says sovereign creditworthiness in the Gulf has continued to deteriorate, weighed by Saudi Arabia
Dubai Chamber sees 16,800 new members in 2016
Total value of members’ exports and re-exports amounted to $74.3bn last year, with Saudi the biggest customer
Dubai Crown Prince approves new maternity leave policy for gov’t staff
New rules will extend maternity leave to three months fully paid, effective from March 1
Saudi gov’t ‘could shelve’ $13.3bn projects in 2017
New report says projects are at risk of being cancelled this year due to fiscal pressures and changing priorities
Saudi Arabia’s religious authority says cinemas, song concerts harmful
Cinemas and public concerts are already banned in the kingdom, but gov’t promised a shake-up of the cultural scene with a set of ‘Vision 2030’ reforms
Qatar inflation rate falls to 2016 low in December
Official figures show that inflation rate drops to 1.8% last month from 2% the previous month
How to find value in uncertain times
GCC equity valuations remain reasonably attractive given the global economic circumstances, and investors are becoming more comfortable with investing in start-ups
Global volatility offers a silver lining for GCC’s private banking industry
There is significant room for growth in the GCC, given the unprecedented economic diversification through privatisation plans and subsidy reform
Oman denies seeking ‘multi-billion dollar deposit’
Sultanate was reported this week to be seeking a central bank deposit to boost reserves
Rights groups accuse Saudi Arabia of new crackdown on dissent
Human Rights Watch and Amnesty International make claims after arrest of two activists in first 10 days of 2017
Oman in talks with Gulf states to obtain multi-billion dollar deposit
Sources say Omani officials met in recent weeks with officials of the finance ministries of Kuwait, Qatar and Saudi Arabia