|
|
 | GCC economy to expand 5.6% in 2012  | |
MENAFN -
- 07/12/2012
|
|
|
(MENAFN) The ICAEW's latest quarterly report shows that during the current year, countries of the Gulf Cooperation Council (GCC) are expected to post a growth of 5.6 percent, reported Emirates 24/7.
Most of the growth is driven by high oil prices and government infrastructure spending.
The report also reveals that the emirate of Dubai is leading the way through investing in jobs, education and skills and becoming a global business hub, however, GCC countries must diversify their economies if they want to become knowledge and skills led.
On the other hand, it noted that persistent high oil prices, government investment in infrastructure and spending on public services, including public sector salary rises, have increased consumer spending.
The report concluded that in order to sufficiently finance government commitments, oil prices must remain at high levels.
It is worth noting that the Institute of Chartered Accountants in England and Wales (ICAEW) provides its 138,000 members and students with premium accountancy qualifications and world class business resources.
|
| |
|
|
MENA News Headlines
|
 | May 19 2013 | Oman raises crude oil exports in Q1 by 14.8% ,MENAFN | | (MENAFN) Oman's National Center for Statistics and Information announced that the country's exports of crude oil during the first quarter climbed by 14.8 percent to 74,803.5 barrels from 65,133.3 ... |
| | May 19 2013 | Lebanon to import Iranian oil and LPG ,MENAFN | | (MENAFN) Tehran and Beirut have discussed lately to export Iranian furnace oil and LPG to Lebanon, reported Tehran Times.
Deputy Oil Minister Alireza Zeighami said that Iran's total daily exports ... |
| | May 19 2013 | Bahrain's security issues reduce property prices ,MENAFN | | (MENAFN) Bahrain Real Estate Society chairman, Nasser Al Ahli, stated that political tensions in the country could lower property prices more in the future, reported Gulf Daily News, citing Akhbar Al ... |
| | May 19 2013 | Saudia receives 777-300ER Boeing plane ,MENAFN | | (MENAFN) Saudi Arabian Airlines (Saudia) deputy director general, Abdul Aziz Al Hazmi, announced that the carrier has received a 777-300ER extended range plane from Boeing, reported Gulf Daily ... |
| | May 19 2013 | Poland's LLP to open 10 stores in ME by 2014 ,MENAFN | | (MENAFN) LLP deputy chief executive, Dariusz Pachla, announced that by next year, the Polish retailer will launch 10 outlets in the Middle East, reported Arabian Business citing the Warsaw Business ... |
| | May 19 2013 | UAE- USD10b tourism receipts recorded in 2012 ,MENAFN | | (MENAFN) The UN's World Tourism Organization (UNWTO) released data showing that the UAE ranked first in the Middle East in terms of total tourism receipts in 2012, reported Arabian Business.
The ... |
| | May 19 2013 | US receives request from Qatar, Oman to buy military equipment ,MENAFN | | (MENAFN) The US Defense Security Cooperation Agency stated that it has notified the Congress about a possible USD210 million arms deal with both Oman and Qatar, reported Arabian Business.
The two ... |
| | May 19 2013 | Al Maktoum Airport to boost Dubai's private jet movements to 20k by 2020 ,MENAFN | | (MENAFN) Dubai Aviation City Corporation's COO, Rashed Bu Qara'a, stated that once opened for passenger services, Al Maktoum International Airport would increase private business jet traffic in Dubai ... |
| | May 19 2013 | Syria state TV: Powerful blast rattles Damascus ,Saudi Press Agency | | (MENAFN - Saudi Press Agency) Syrian TV said a powerful explosion has hit the nation's capital, causing an unknown number of casualties, AP reported.
State TV says the blast rattled the Damascus ... |
| | May 19 2013 | Bahrain Slams Irresponsible Iranian Statements ,Saudi Press Agency | | (MENAFN - Saudi Press Agency) The Kingdom of Bahrain today strongly condemned the statements made by Iranian Assistant Foreign Minister for Arab and African Affairs Hussain Amir Abdullahyan.
In a ... |
|  more... |
|
|
|
|
 |
|
|
|
