Monday 4 May 2015
 
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GCC

Hyatt to open 9 new hotels across GCC

Leading hospitality company Hyatt said its continues to spotlight the burgeoning Gulf Cooperative Council (GCC) market with new hotels across several of its brands, with atleast nine new hotels expected open across the region by 2017.

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Elegant Resorts to launch into GCC market

Elegant Resorts, a specialist luxury tour operator from Chester, UK, is set to launch in the GCC market later this month. It also plans to open an office in Dubai later this year, said a statement. Al Tayyar Travel

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Lower oil prices may spur the Gulf to diversify

Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said. Because of the region’s accumula

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GCC economic diversification to drive growth

Economic diversification is a crucial growth driver for the GCC countries. The GCC could see additional gains of up to $17.7 billion if the region were to catch up to the average OECD level of diversification, said a report in the

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Gulf economies' growth forecasts cut as oil stays low

The outlook for most of the rich Gulf Arab economies has dimmed for this year and next as oil prices have remained relatively low, according to a Reuters poll published on Wednesday that showed economists cutting their forecasts.

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Bahrain to invest $10bn on rail link, new causeway

Bahrain plans to invest a total of $10 billion on a railway line connecting to the GCC rail network and a second causeway linking the country with Saudi Arabia, it has emerged. A feasibility study being conducted by Canadian engin

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GCC food consumption on track to top 50m tonnes

Food consumption in the GCC, backed by encouraging macroeconomic drivers, is expected to grow at a 3.5 per cent CAGR between 2014 and 2019 to reach 51.9 million metric tonnes (MT), a report said. Cereals are likely to remain the m

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GCC investors buy giant Libyan cement company

A group of Gulf investors have joined hands with local firms to buy the largest cement maker in eastern Libya, betting on a construction boom once fighting abates in the North African country, one of the investors said. Libya rare

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GCC consulting market expands by $1bn in 3 years

The GCC consulting market grew by more than 15 per cent to $2.5 billion in 2014. This means the market has expanded by more than $1 billion in just three years, an amount that is roughly equivalent to that of the entire consulting markets of mat

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Green building projects driving GCC stone market

The GCC countries are increasingly using stone and other environment-friendly raw materials to comply with green building codes and sustainable development plans, helping to drive the market for marble, stone and ceramics up from $5.1 billion in

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