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Residents are predicted to spend up to $2.9 billion on super expensive cars
20 November 05:18 PM Luxury cars top UAE residents’ buying in 2017
Mubasher: GCC citizens have often made headlines with excessive spending, especially on luxury items. Most people often dream of having big fortunes and wonder what they would do if they won a lottery or got rich suddenly. For some in the GCC …
About 63% of the expats in Manama feel good about their job security
19 November 10:51 AM Manama leads world's best cities for expats - Survey
Mubasher: The Bahraini capital Manama topped the list of world’s best cities for expats, followed by Prague, Madrid, Kuala Lumpur, and Amsterdam in the Expat Insider 2017 survey.   As for the rest of the Gulf cities in the list, Muscat, Abu Dhabi, …
Emaar Properties’ unit eyes global hotel portfolio expansion
19 November 10:48 AM Emaar Properties’ unit eyes global hotel portfolio expansion
Dubai - Mubasher:  Oliver Harnisch, CEO of Emaar Hospitality Group, has said that the group intends to double its hotel portfolio four times by 2021. Harnisch explained that the Emaar Properties subsidiary  has 30 hotels under development in the …
The decision comes as part of efforts to develop the Kingdom’s financial market
16 November 05:54 PM Saudi CMA to exempt firms from initial Q4 disclosures
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Thursday stated that the decision taken by its board which involves exempting listed companies from disclosing financial statements for the fourth quarter of the current fiscal year …
KSA’s ownership of US bonds, T-bills hits $136.7bn in September
16 November 10:39 AM KSA’s ownership of US bonds, T-bills hits $136.7bn in September
Riyadh – Mubasher: Saudi Arabia raised its ownership of US bonds and treasury bills (T-bills) by 52.9%, reaching $136.7 billion during September 2017, compared to $89.4 billion in September 2016, the US Department of the Treasury’s data said. On a …
Global wealth increased by 27% in the last decade to a total $280 trillion
14 November 11:48 PM US dominates global wealth, Egyptians lost half theirs in year
Mubasher: Individual wealth surged 6.4% in a year, recording its highest annual increase since 2012, with Egypt leading the top losers due to the local currency flotation. Global wealth increased by 27% in the last decade to a total $280 trillion, …
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
14 November 08:12 PM Bin Talal’s Beirut hotels go up for sale
Riyadh – Mubasher: Saudi Prince Alwaleed bin Talal is rumoured to have put its luxury hotels in Beirut up for sale. “A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel …
Fayez’s resignation is effective 8 February 2018
14 November 06:52 PM Savola CEO steps down
Riyadh – Mubasher: Savola Group on Tuesday announced that its board has approved the CEO’s resignation. CEO Rayan bin Mohammed Fayez submitted his resignation from the company have received another job offer. Fayez’s resignation is effective 8 …
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13 November 04:11 PM UK to end ban on flights to Sharm El Sheikh
Cairo - Mubasher: The United Kingdom is planning to lift the ban on travelling to Sharm El Sheikh by February 2018, El Shorouk reported on Monday citing unnamed tourism sources. An alliance in the House of Lords supports the British government …
I am optimistic about oil market’s performance in 2018
13 November 11:49 AM Global oil market to see recovery – UAE energy minister
By: Amr Adel Abu Dhabi – Mubasher: The UAE’s minister of energy and industry Suhail bin Mohammed Al-Mazroui on Monday said he expects that the global oil market to continue its recovery during 2018. The decision to cut oil production has helped in …
KSA is promising market for Boeing 797 – Bloomberg
12 November 03:38 PM KSA is promising market for Boeing 797 – Bloomberg
Riyadh – Mubasher: Saudi Arabia is considered a promising market for the new Boeing 797 aircrafts that aim mid-range flights, Bloomberg reported, citing Boeing’s president for the MENA countires, Ahmed Jazzar as saying. “If you’re talking about a …
bin Talal has sold his remaining stake in Rupert Murdoch’s 21st Century Fox Inc
9 November 06:08 PM Bin Talal sells stake in Murdoch's 21st Century Fox
Riyadh – Mubasher: Saudi billionaire Al-Waleed bin Talal has sold his remaining stake in Rupert Murdoch’s 21st Century Fox Inc., according to Bloomberg. Bin Talal had been a shareholder in Murdoch’s companies for about 20 years, the news agency …