Oman Power and Water Procurement Company SAOC (OPWP) said it recently awarded a contract for the the largest independent power project (IPP) in Oman, the  3,219 megawatt Ibri Sohar-3 power generation project. The project was awarded to a group led by Mitsui & Co. Ltd. that includes ACWA Power and Dhofar International Development and Investment Holding Co. SAOG (DIDIC).  Read More »

Bahrain Chamber of Commerce and Industry (BCCI) Chairman Khalid Al Moayed joined several BCCI board members and top executives and members of the Joint Committee at a meeting with Bahrain's major companies. Attendees highlighted the country’s economic success despite challenges and discussed the focus of major companies to employ local talent to sustain Bahrain’s economic growth. Read More »

Al Tamimi & Company, the Middle East’s largest law firm, recently acted as legal counsel for Boubyan Bank K.S.C.P., a Kuwaiti Islamic bank firm headquartered in Salmiya, in the issuance of sukuk worth $250 million. Boubyan Bank’s investment division, Boubyan Capital, handled international coordination in partnership with Standard Chartered and HSBC. Read More »

Qatar’s future USD-denominated senior unsecured bonds have an expected rating of AA (EXP) from Fitch Ratings. The final rating assignment is dependent upon the receiving of all completed documents representing previously received information. All proceeds from the bonds will be used for Qatar’s financial and general funding purposes. Read More »

Dubai-based IT solutions provider STME has developed a way to use Veritas (Symantec) to implement a disk encryption solution at Manafea Holding Company based in Riyadh. The data that Manafea deals with is highly complex and valuable and leaders wanted to ensure the safety of the data in the event of theft or hardware/software failure. Read More »

Hamptons International Oman has listed an 11-bedroom villa in the Al Hail South area of Muscat for $818,236. This stunning villa was once two separate homes and has been remodeled into one large home. In the first of the villas, there are four bedrooms on the ground floor and three bedrooms, one with en suite bathroom on the first floor. Read More »

Market events this spring showed that middle-income homes are becoming desirable for buyers in the United Arab Emirates. Vendors and other exhibitors came to Dubai last month for the 12th International Property Show at the Dubai International Convention and Exhibit Center. One thing they found is that first-time buyers were interested in housing that suits their needs. Read More »

 A recent report from Monster.com shows poor employment numbers for various Gulf countries and the first negative growth in the region since January 2015, with a year-over-year decline. E-recruitment activity in April was also 10 percent lower than in March. The study blames global oil prices, political instability and other factors for problems in the region. Read More »

The Dubai Chamber of Commerce and Industry said Monday that a new Portuguese Business Council has been established in Dubai, under the chamber’s auspices, to enhance economic relations between the two nations. The Portuguese Business Council said that non-oil commercial revenue between the UAE and Portugal for goods and services in 2015 totaled $500 million. Read More »

A meeting aimed at discussing the Bahrain Chamber of Commerce and Industry’s (BCCI) role in involving Bahrain in global economic events was hosted by the BCCI's promotion, exhibitions and conferences sector committee. The committee discussed its participation at the PR Summit 3 and the 15th Trade Fair of the Organization of Islamic Cooperation Member States. Read More »

Qatar Environment and Energy Research Institute (QEERI) entered into a deal with Qatar Electricity and Water Company (QEWC) to develop programs and conduct pilot tests for desalination facilities to achieve water security in the country. QEWC will provide QEERI access to its Dukhan coast site, along with skilled labor and the utilities needed to conduct desalination pilot tests. Read More »

SABIC (Saudi Arabia Basic Industries Corporation), headquartered in Riyadh, is establishing a new state-of-the art research facility in the Netherlands to support its research capabilities in innovative chemicals and materials. “This research center is the latest milestone in SABIC's innovation journey,” Bert Groothuis, SABIC's director of corporate sustainability Europe, said. Read More »

E-marine, a provider of submarine cable solutions in the Middle East, launched its newest cable-laying vessel in Dubai last week. The new vessel, the CS Maram, is E-marine's fifth cable-laying vessel and is part of E-marine's effort to boost capacity and maintain vital cable infrastructure in the Middle East and East Africa. The CS Maram was built in Abu Dhabi. Read More »

The Dubai Chamber of Commerce and Industry and the Dubai Government Excellence Program organized a recent workshop on adopting the newly introduced fourth generation of the Government Excellence System. Dubai Chamber President and CEO Hamad Buamim said the new system aims to improve government performance based on standards geared toward implementation of the Dubai Plan 2021. Read More »

As part of a greater plan to spur Dubai's economy, improve public planning and enhance the quality of life, Dubai leaders announced that the UAE government plans to make one quarter of all transportation in the city driverless by 2030. Sheikh Mohammad Bin Rashid Al Maktoum, vice president and prime minister of the UAE, took to Twitter in April to announce the new benchmark. Read More »

Located in the sought-after Jumeirah Lake Towers development, this amazing studio apartment boasts an open floor plan with 509 square feet of living space and breathtaking lake views. The studio has a tasteful kitchen that looks out to an inviting living area and a cozy dining area, while the bedroom area features beautiful built-in wardrobes. Read More »

The investment branch of Bahrain’s National Oil and Gas Authority (NOGA), nogaholding, recently hosted a dinner at the Ritz Carlton Hotel in the city of Manama to celebrate a $570 million Murabaha facility contract signing. Read More »

A 2016 report on Global Residence and Citizenship Programs (GRCP) compiled by Henley & Partners has rated the United Arab Emirates among the best 19 countries for investment-based residency, the company recently revealed from Dubai. Read More »

Dubai-based Keilani Construction Company LLC has won a contract worth 200 million (AED) from Azizi Developments to build a pair of luxury dwellings in the Al Furjan residential development near Jebel Ali, slated for late 2017 completion. Read More »

Doha-based Qatar First Bank LLC recently commended a plan revealed by Deputy Crown Prince Mohammad AlSaud with an eye toward fashioning the kingdom into a powerful global investment hub in a post-oil economy. Read More »