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Mubadala unit to reveal jet engine facility details 'soon'
(The National - 16/11/2017)

The Turbine Services & Solutions Group (TS&S), a wholly owned subsidiary of Abu Dhabi's Mubadala Investment Company, expects to unveil details of the facilities it will build for GE and Rolls-Royce engines, “before the end of the year”, as it ramps up

Kuwait non-oil growth set to rise to 4pc: IMF
(Trade Arabia - 16/11/2017)

Kuwait’s non-oil growth is projected to increase gradually to about 4 per cent driven by accelerated project implementation under the 5-year development plan and improved confidence, said the International Monetary Fund (IMF). Hydrocarbon output is

IT spending in EMEA to top $1trn in 2018: Gartner
(Trade Arabia - 16/11/2017)

IT spending in EMEA (Europe, Middle East and Africa) is projected to total $1trillion in 2018, an increase of 4.9 per cent from estimated spending of $974 billion in 2017, according to a new report from research and advisory firm Gartner. In 2017,

Dubai non-oil foreign trade up 13pc to top $93bn in Q3
(Trade Arabia - 16/11/2017)

Dubai’s non-oil foreign trade increased to Dh344 billion ($93.6 billion) in the third quarter of 2017, an increase of 13 per cent year-on-year from Dh305 billion in the corresponding quarter of last year, a report said. Re-exports were the key driver of

ADIPEC 2017 Awards recognise energy industry innovation
(Oil Review Middle East - 16/11/2017)

According to Saif Ahmed Alghfeli, CEO of Abu Dhabi National Oil Company (ADNOC) and chairman of the ADIPEC Awards, said that 2017 has attracted around 407 entries from more than 132 companies based in 34 countries, making it the most successful ever.

ADX Achieves 99% In Disclosure Compliance Of 3rd Q 2017 Financials
(Mondo Visione - 16/11/2017)

Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99% regarding the disclosure of the 3rd quarter financial statements of its listed public joint stock companies within the deadline of 45 days from the

Astad is supporting ‘Made in Qatar 2017’ as Silver Sponsor
(Gulf Times - 16/11/2017)

Astad is supporting the ‘Made in Qatar 2017’ exhibition as Silver Sponsor, private sector leader Qatar Chamber announced in a statement. Qatar Chamber director-general Saleh bin Hamad al-Sharqi and Astad CEO engineer Ali al-Khalifa signed the sponsorship

Saudi regulator to exempt firms from initial Q4 statements
(Gulfnews - 16/11/2017)

The Saudi Arabian Capital Market Authority (CMA) issued a statement before the market opened saying that listed companies would be exempt from publishing fourth-quarter financial statements because they are transitioning to the International Financial

Dubai sustains strong growth despite challenges
(Gulfnews - 16/11/2017)

The Dubai economy continued to see strong growth despite challenging regional and global economic conditions. Dubai’s non-oil foreign trade increased to Dh344 billion in the third quarter of 2017, an increase of 13 per cent year-on-year from Dh305

Bahrain to continue developing the Tourism and Hospitality sectors
(Biz Bahrain - 16/11/2017)

Industry, Commerce and Tourism Minister, Zayed bin Rashid Al-Zayani, has stressed that investments in the hospitality sector in the Kingdom of Bahrain will increase the capacity by about 4,000 rooms until 2020. The minister praised the hotel

Record $76.5 billion aircraft sold in a day
(The Gulf Today - 16/11/2017)

The penultimate day of the Dubai Airshow saw two enormous aircraft purchase orders worth $76.5b for both Airbus and Boeing, in one of the most exciting days in recent aviation business history. Airbus revealed its largest single announcement ever this

SoftBank plans invest $25 billion in Saudi Arabia
(Saudi Gazette - 16/11/2017)

SoftBank plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter, Bloomberg News reports.

More Saudis inspired to become entrepreneurs
(Saudi Gazette - 16/11/2017)

The Kingdom has been putting intense effort in supporting its backbone, the youth, in different ways, such as education, training and working closely with them along the way to discover their potential, supporting them to become entrepreneurs and spread

Misk Global Form prepares youth for Fourth Industrial Revolution
(Saudi Gazette - 16/11/2017)

The Misk Global Forum invited innovators and thought leaders to prepare youth for the fourth industrial revolution. Saudi Arabia showed it wants to embrace change on its way to transfer to a knowledge-based economy. 57% of young people around the world

VAT set to have major impact on cross border regional transactions
(Saudi Gazette - 16/11/2017)

Experts in the concluding session of the two-day Saudi Trade and Finance Summit (STFS) deliberated on a plethora of issues related to corporate houses and exports. But the highlight of the day was a presentation by Alhaitham Al-Ghothami, Economic Advisor

Italy, Saudi Arabia can boost economic cooperation: Finance minister
(Arab News - 16/11/2017)

Pier Carlo Padoan, the Italian economy and finance minister, believes Italy and Saudi Arabia have clear opportunities to increase cooperation in industry and manufacturing as the Kingdom seeks to implement the diversification away from oil dependency set

Flydubai places $27bn order for 225 Boeing 737 MAX aircraft
(Trade Arabia - 15/11/2017)

Dubai-based flydubai today announced a commitment to a $27 billion order for 225 Boeing 737 MAX aircraft to support the growth of its fleet. This is the third aircraft order placed by the airline with Boeing in its eight-year history and follows orders

Airbus, Boeing bag orders worth $77 billion on day 3 of air show
(Gulf News - 15/11/2017)

In its largest single order ever, European plane maker Airbus on Wednesday clinched the deal for 430 aircraft from US-based private equity fund, Indigo Partners, in a deal valued at $49.5 billion in list prices. With this, Airbus stole Boeing’s day-one

GCC’s corporate and infrastructure debt issuance double in 2017
(Gulf News - 15/11/2017)

Gulf Cooperation Council (GCC) corporate and infrastructure capital market issuance, 2017 is shaping up to be a bumper year. Volumes are already more than double those of last year — with almost two months still to go, according to data from rating

Qatar faces worst decline in GCC real estate sector
(Gulf News - 15/11/2017)

Difficult economic environment is expected to weigh on the prospects of the real estate sector across the GCC, especially Qatar as it faces continuing trade and economic sanctions. “We expect that difficult operating conditions in the region will

Mubadala to invest $22.5m in aerospace R&D
(Trade Arabia - 15/11/2017)

Abu Dhabi’s state fund Mubadala has announced plans for its Aerospace, Renewables & ICT platform to invest a further Dh82.5 million ($22.5 million) in research and development (R&D) over the next five years. The funding will be used to accelerate several

Abu Dhabi starts commercial operations at $1.5bn utility plant
(Trade Arabia - 15/11/2017)

Abu Dhabi Water and Electricity Authority (Adwea) has started the commercial operations at its Dh5.4 billion ($1.46 billion) Mirfa Independent Water and Power Plant located about 110km from the UAE capital in the Dhafra Region. The plant, which boasts a

Abu Dhabi approves corniche master development plan
(Trade Arabia - 15/11/2017)

Abu Dhabi's Department of Urban Planning and Municipalities has endorsed the Corniche master development plan aimed at enhancing the tourist attractions on the corniche and rendering it a superb recreational facility befitting the profile of Abu Dhabi,

Oman signs four concession agreements to develop oil blocks
(Times of Oman - 15/11/2017)

The Ministry of Oil and Gas has signed a total of four exploration and production sharing agreements (EPSA) with energy companies to develop oil blocks in various parts of the country. These agreements were for developing onshore blocks 49, 31 and 30, as

Oman Hotels signs agreement with AccorHotels for Novotel Hotel
(Times of Oman - 15/11/2017)

Oman Hotels and Tourism Company has signed the first agreement with renowned international hotel chain AccorHotels for the operation and management of a four-star hotel in Al Khuwair area, which follows the Sharia Law. The signing ceremony for the