Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince, Pakistan Army Chief discuss ways to enhance military cooperation    Crown Prince aspires to strengthen strategic US-Saudi ties in call with Trump    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Prince Badr signs MoUs with Al-Qasabi and Al-Falih to empower entrepreneurs and boost investments in cultural sector    Quality of life of Madinah residents and enriching visitor experience highlighted in Cairo event    Trump sweeps to historic victory as swing states turn red    Heavy Equipment and Truck Show to spotlight Tata Motors' cutting-edge mobility solutions    IKEA Alsulaiman opens Madinah store as part of an ambitious expansion plan in the Kingdom    Trump's claim of 'massive cheating' in Philadelphia rejected by officials    China is building new villages on its remote Himalayan border    Netanyahu fires Israeli Defense Minister after months of clashes over war and politics    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Top climber falls to death after rare Himalayan feat    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Quincy Jones, titan of US music, dies aged 91    Hidden sugars in Asia's baby food spark concerns    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Gulf attracts businesses in spite of high inflation: poll
Published in The Saudi Gazette on 10 - 10 - 2008

The Gulf countries continue to attract businesses and jobs despite soaring inflation across the region, according to a new poll.
The poll, conducted by Leaders Presents, organizers of the Leaders in Dubai Business Forum, found that 83 percent of regional business leaders expected to increase their business in the Gulf Cooperation Council (GCC) countries over the next one year.
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) comprise the GCC.
Almost 80 percent of the respondents said they expected the profits from their GCC businesses in the next five years to increase, compared to other parts of the world, Leaders Presents said in a statement on Thursday.
“The GCC countries in general are experiencing a rapid growth fuelled by rising population numbers and an increase in national income,” Lucy Mountain, conference director of the Leaders in Dubai Business Forum, said. “The high rate of per capita affluence along with the modernization in legislations and laws are big contributing factors towards attracting more businesses, which also facilitate further investments into those markets,” she added.
While almost 76 percent of the business leaders surveyed said they intended to increase the number of staff in the GCC, less than four percent plan to reduce their employee numbers.
The UAE turned out to be the most attractive business destination with 51 percent of the respondents voting it as the country most favored in the region to do more business in.
The UAE was followed by Saudi Arabia, Qatar, Oman, Bahrain and Kuwait.
“The UAE government's efforts towards easing the process for establishing companies here are some of the noteworthy factors that have made the UAE one of the most attractive options for investors willing to venture into the region's emerging markets,” Mountain said.
Of the seven emirates of the UAE, Dubai emerged as the most favored to do business in followed by Abu Dhabi.
Only seven percent of the respondent companies said they were doing most of their GCC business in emirates in the UAE other than Dubai or Abu Dhabi.
Results of the poll, which covered around 400 business leaders and key decision makers, were released at a time when the region's bourses were going through a bloodbath in the wake of the global financial crisis.
In order to bring the situation under control, central banks of the UAE, Kuwait and Bahrain have announced interest rate cuts in keeping with the global trend.


Clic here to read the story from its source.