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UAE petrol prices for January 2017 to rise
(The National - 29/12/2016)

Petrol and diesel prices will rise in January by 6.1 to 7.1 per cent for all grades of the fuel. The Ministry of Energy announced on Wednesday that motorists will pay Dh1.91 a litre for Super 98, up by 6.1 per cent from December; Special 95 will cost

Saudis support investment in renewable energy
(The Gulf Today - 29/12/2016)

Ambitious plans set out by the Kingdom of Saudi Arabia for the deployment of renewable energy are strongly aligned with the hopes and ambitions of the country’s young people, according to global research commissioned by Masdar, Abu Dhabi’s renewable

UAE, Kazakhstan discuss trade ties
(The Gulf Today - 29/12/2016)

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF) received Yerlan Khairov, Kazakhstan’s Vice Minister for Investment and Development and Kairat Lama Sharif, Ambassador of Kazakhstan to the UAE at MoF’s premises in Abu Dhabi. During

Saudi aero, auto & transport, engineering sectors booming
(Saudi Gazette - 29/12/2016)

Businesses in Saudi Arabia are responding positively to Saudi Vision 2030 that aims to diversify the economy and boost sectors not related to oil and gas, according to research carried out in Saudi Arabia by LinkedIn, the world’s largest professional

EY workshop focuses on sustainable growth
(Saudi Gazette - 29/12/2016)

EY Jeddah held a first of its kind workshop, discussing customer-focused EY Growth Solutions with 13 local mid-sized enterprises, encouraging their common ambition to grow during this challenging period, in line with the country’s Vision 2030 and the

Women leaders in Islamic finance
(Arab News - 29/12/2016)

A recent report by Simply Shariah Human Capital, a UK-based first recruitment company dedicated to Islamic finance, showed that the number of women in the workplace across the Middle East and North Africa (MENA) is still low. The report, entitled “Women

GCC sovereign issuances are seen maintaining momentum
(Gulf Times - 28/12/2016)

GCC sovereign issuance has been particularly strong this year, with Qatar, Abu Dhabi and Oman all issuing in May, while Saudi Arabia’s debut bond raised a record $17.5bn in October, a recent report by Samba Financial Group shows. “Further issues are

Abu Dhabi landlords weigh options of reintroduced rent cap
(The National - 28/12/2016)

Two weeks after the Abu Dhabi Government reintroduced a rent cap in the capital, landlords and tenants are still weighing what this will mean for the rental market next year. On December 13, the Department for Municipal Affairs and Transport announced

Sharjah Tourism aims to boost public-private cooperation
(Gulfnews - 28/12/2016)

Sharjah Commerce and Tourism Development Authority (SCTDA) signed an MoU with the emirate’s Directorate of Town Planning and Survey in an effort to help boost its cooperation with other public and private organisations. SCDTA chairman Khalid Jasem Al

Omani retail space set for rapid expansion
(Oman Daily Observer - 28/12/2016)

Retail investors and mall developers are flocking to Oman in increasing numbers on the back of rising demand from consumers and the market’s potential for growth. Developments in the pipeline include both large-scale malls and smaller neighbourhood

Tejar Dubai scales up support for entrepreneurs
(The Gulf Today - 28/12/2016)

The Dubai Chamber of Commerce and Industry stepped up its efforts to support the growth of startups and entrepreneurs in 2016 through a number of successful initiatives under the Tejar Dubai entrepreneurship development programme, as well as the

Saudi balanced budget seen by 2020
(Saudi Gazette - 28/12/2016)

The Saudi Budget 2017 sees “progressively lower budget deficit achieving breakeven by 2020, a debt ceiling of 30% of GDP, continuing energy price reforms, enhanced disclosures and transparency, likely labor market reforms and other new initiatives,” Al

Qatar's trade surplus in November touched QR9.6bn
(The Peninsula - 27/12/2016)

Qatar’s foreign merchandise trade surplus in November 2016, which represents the difference between total exports and imports of goods, stood at QR9.6bn, showing a year-on-year decrease of about QR800m, or 8 percent, compared to the corresponding month

Dubai Municipality working on $680m development projects
(Trade Arabia - 27/12/2016)

Dubai Municipality is working on Dh2.5 billion ($680 million) development projects including construction of new markets and commercial complexes besides expansion and maintenance of the existing facilities, said a report. It is also developing the

Impact of VAT on businesses discussed
(The Gulf Today - 27/12/2016)

Engineer Sultan Bin Saeed Al Mansouri, Minister of Economy, headed the 4th Meeting of the Higher Committee for Consumer Protection (HCCP) for 2016 in Dubai. The session was attended by Engineer Mohammed Ahmed Bin Abdulaziz Al-Shehhi, Undersecretary for

Kuwait’s November inflation slows further to 3.4 percent
(Arab Times - 27/12/2016)

Domestic Consumer Prices Index (CPI) rose 3.4 percent in November compared to the same month of 2015, the Central Statistical Bureau said in a report released on Sunday. The general index figure dropped by 0.14 percent in November, on monthly basis, as

Indonesia and Egypt attract Saudi investors
(Saudi Gazette - 27/12/2016)

Governor Sunjaya Purwadi Sastra of Cirebon, a port city in northern West Java, Indonesia said bilateral trade between Indonesia and Saudi Arabia is expected to increase to SR17 billion by 2020 under the new Saudi plans to diversify the economy. An

Kuwait diesel gensets market likely to grow
(Saudi Gazette - 27/12/2016)

The construction industry in Kuwait is booming with a series of new projects to be completed during the forecast period. As a result, demand for diesel gensets is likely to rise in the near future. Apart from being a reliable source for standby power,

GCC industrial gases market to rise 7.3% till 2022
(Saudi Gazette - 27/12/2016)

The GCC industrial gases market is forecast to increase at 7.3% CAGR during the forecast period 2016-2022, and reach $1,270.1 million in revenues, Persistence Market Research said in its Long-term Outlook report. Consumption of industrial gases in GCC

Saudi post-budget rally stalls, UAE bourses firm
(Arab News - 27/12/2016)

The Saudi Arabia’s stock market’s post-budget rally ran out of steam on Monday as the index neared technical resistance, while United Arab Emirates bourses outperformed the region. The Tadawul All-Share Index (TASI) added 1.5 percent on Sunday in

UAE’s investment in education sector tops $2.7bn
(Trade Arabia - 26/12/2016)

The UAE has invested Dh10 billion ($2.72 billion) into the education sector– equivalent to a 22 per cent increase in governmental spending on education, both general and higher, experts heard at a recent summit in Oxford, UK. Emirates College for

Kuwait to sell 50pc stake in major utility project
(Trade Arabia - 26/12/2016)

Kuwait's government plans to sell 50 per cent shares in its Az-Zour North One Independent Water & Power Project (IWPP) to the public by the middle of next year, reported the state news agency Kuna. The $1.7-billion Az-Zour North One project located about

UAE better positioned for structural reforms among GCC countries
(Gulfnews - 26/12/2016)

The UAE is making serious attempts to reform its economy and public finances to adjust to the new reality of lower oil prices, and the country has a head start in reforms in terms of economic diversification and larger role for private sector in the

KSA boosts spending, but cuts deficit – Break-even price for FY17
(Arab Times - 26/12/2016)

The Kingdom of Saudi Arabia (KSA) forecasted a deficit of SAR198bn (7.7% of GDP), with a projected revenue of SAR692bn (higher by 31% than actual and +35% compared to the budget in 2016). For 2017, total expenditure is projected at SAR890bn (+8% actual

Dubai Trade notes public, private sector collaboration
(Saudi Gazette - 26/12/2016)

Dubai Trade, the single window for cross-border trade and smart trading solutions and a DP World company, recently recognized strategic and media partners during its first appreciation ceremony. The ceremony was part of Dubai Trade’s strategy to support

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