Saudi Arabia’s PIF plans overseas expansion

Abu Dhabi: Saudi Arabia’s Public Investment Fund (PIF) plans expansion overseas as well as invest within the country to diversify its economy, a top executive of the country’s sovereign wealth fund said in Abu Dhabi. PIF formed in 1971 has 200 investments with 90 per cent of it being within the country. The fund has […]

Gulf economies’ GDP to moderate this year, while private consumption to remain weak

Dubai: Real gross domestic product (GDP) growth in the Gulf Cooperation Council (GCC) is expected to moderate in 2019, with production cuts impacting the oil sector and only a limited strengthening in the region’s non-oil economic activity, according to economists. “We see aggregate GCC government spending growth decelerating in 2019 versus 2018, resulting in non-oil […]

Why Gulf NRIs are investing less in Kerala property

Dubai: South Indian state of Kerala’s property market is feeling a bit under water… and it has nothing to do with the floods that devastated the state in August last year. Instead, it has everything to do with the tough job market in the Gulf, with the Kerala economy being the most reliant on foreign […]