Daily brief: Tuesday’s top 7 business stories
Below are the top business stories you should not miss today.
Saudi Cabinet approves entertainment authority
The Saudi Cabinet approved the organisational arrangements for the General Commission for Entertainment, which was first announced in May as part of the Saudi Vision 2030.
18th WETEX Edition kicks off
The 18th edition of the Water, Energy, Technology, and Environment Exhibition (WETEX 2016), kicks off on Tuesday, under the theme “At the Forefront of Sustainability”. At the expo, the Dubai Electricity and Water Authority (DEWA) will disseminate its concepts and views on sustainability in energy, water and environment.
Future Accelerators unveils programme
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, unveiled the Future Accelerators programme, which provides a platform for private entities to collaborate with the government sector to innovate in eight strategic sectors.
It was immediately announced that Dubai Holding, a global investment holding company, said it would be a part of the Dubai Future Accelerators programme and has announced an investment of AED1 million over the next five years.
Qatar outperforms GCC in sustainable economic development
Qatar has outperformed other GCC countries as well as the rest of the world in most dimensions when it comes to Sustainable Economic Development Assessment (SEDA), a new Boston Consulting Group (BCG) report has unveiled.
However, the country lags behind its neighbours in terms of economic stability, education and environment.
Germany presses US to ease Iran sanctions to boost business
German Economy Minister Sigmar Gabriel promised to remind the US of its commitment to reduce sanctions on Iran as he courted business ties with the Islamic republic.
It has been reported that ten economic agreements are in the process of being signed between Iran and Germany, Reuters reported.
One of the latest business deals involved signing Germany’s Siemens to enhance and further develop Iran’s railway network.
Dubai International to become world’s busiest airport this decade
While Dubai International airport is already the world’s busiest for international passengers, it expects to be the busiest in the world by 2020.
“The growth rates that we are experiencing are more than double what is being experienced by both Beijing and Atlanta,” Dubai Airports CEO Paul Griffiths told Bloomberg TV in an interview.
Dubai airport announced that a record 7.7 million passengers passed through the airport in August.
Morocco GDP rises 1 per cent in Q3
Morocco’s economy grew by one per cent year-on-year in the third quarter of 2016, compared with 4.8 per cent during the same period of 2015. This is due to a severe drought that has hit the dominant farming sector, the country’s planning agency announced, adding that it expects GDP growth to further slow down.