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Qatar C. bank's international reserves, liquidity rise in November
(Reuters - 31/12/2017)

The Qatar central bank’s international reserves and foreign currency liquidity rose slightly in November, official data showed on Sunday, as capital outflows caused by sanctions imposed by other Arab states appeared to ease. The reserves and liquidity, a

Saudi, EU experts to mull cooperation on energy efficiency
(Saudi Gazette - 31/12/2017)

A high-level “EU-Saudi Arabia Energy Efficiency Meeting” is scheduled to take place in Jeddah on Jan. 14, 2018 as part of the initiative of the EU GCC Clean Energy Technology Network and the EU delegation to Saudi Arabia, with the participation of SASO

Banking sector continues to see robust growth
(Times of Oman - 31/12/2017)

The total outstanding credit extended to banks in Oman by other depository corporations stood at OMR23.3 billion at the end of October 2017, registering a growth of 6.2 per cent over the same period in 2016. The banking sector in Oman continued to

Total volume of trade stands at OMR15b
(Times of Oman - 31/12/2017)

The total volume of trade between Oman and its 10 main partners during 2016 amounted to OMR15.25 billion, representing 80.2 per cent of the total trade volume of Oman, with the surplus in trade balance for Oman reaching OMR466 million (not including

Oman’s public expenditure grows by 5.6%
(Times of Oman - 31/12/2017)

Oman's public finance expenditure grew by 5.6 per cent to reach OMR9.42 billion by the end of October 2017, compared to OMR8.92 billion during the corresponding period last year, according to data released by the National Centre for Statistics and

Mena needs to ramp up power generation capacity
(The Peninsula - 31/12/2017)

Primary energy demand in the Mena region is expected to continue to rise at an annual rate of 1.9 percent through 2035, requiring a significant increase in generating capacity. However, investments have not been rising fast enough to meet that

Qatari non-oil exports reach QR1.8bn in November
(The Peninsula - 31/12/2017)

Qatar Chamber's monthly report on foreign trade of the private sector has revealed that the total value of Qatari non-oil exports to all countries of the world during November 2017 amounted to QR 1.8 billion , compared with QR 1.7 billion during October,

Mina Rashid receive 4-giant cruise ships simultaneously for first time
(Gulf News - 31/12/2017)

The cruise quay at Mina Rashid received four cruise ships simultaneously on Friday — Aida Stilla, Main Chef 5, MSC Splendida and Coasta Mediterrania. This is the first time the port receives four cruise ships together on one day, which confirms its

VAT not an indirect factor in residential sales
(Gulf News - 31/12/2017)

Sure, all property assets deemed as residential come under the 0 per cent VAT regime in the UAE. But for property buyers wanting to get into the market now, there is not even an indirect VAT element they need to watch out for. Because mortgage

Oman’s trade with key partners reached RO 15 billion in 2016
(Oman Daily Observer - 31/12/2017)

The total non-oil bilateral trade between the Sultanate of Oman and its ten key partners reached to a whopping RO 15,253,115,278 during 2016, according to the Ministry of Commerce and Industry. The data has revealed that it was 80.2 per cent of the total

VAT in neighbouring countries can help boost trade in Oman
(Oman Daily Observer - 31/12/2017)

The proposed Value Added Tax (VAT) in the neighbouring UAE and Saudi Arabia will have a positive impact on Oman’s trade and commerce scenario, according to finance experts. However, there will be some price hike on branded products which are sold

Investments at R&D centre to hit Dhs500m
(The Gulf Today - 31/12/2017)

Investments at the R&D Centre in Mohammed Bin Rashid Al Maktoum Solar Park will hit Dhs500 million by 2020, according to a press statement by the Dubai Electricity and Water Authority (Dewa). Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai

Saudi HVAC-R market to hit $6.36bn in 2022
(Saudi Gazette - 28/12/2017)

The market for HVAC-R (heating, ventilation, air conditioning and refrigeration) systems in Saudi Arabia is estimated to reach $3.33 billion in 2017, and is expected to double to $6.36 by 2022 at a compound annual growth rate (CAGR) of around 13 percent,

Saudi Real Estate Refinance Company inks SR1bn deal
(Arab News - 28/12/2017)

The Saudi Real Estate Refinance Company (SRC) has signed an agreement with Bidaya Home Finance to purchase a portfolio and provide a mortgage refinancing facility totaling SR1 billion (£266 million). It marks the second refinancing deal that SRC, which

Oman offers growth potential for jewellery retailers
(Times of Oman - 28/12/2017)

Oman offers tremendous growth potential for jewelers as it has a matured retail market and sizeable affluence, said Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, who was in Muscat ahead of opening three showrooms. “We generally conduct

Oman unveils 500 megawatt solar project
(Times of Oman - 28/12/2017)

Oman Power and Water Procurement Company (OPWP), the Sultanate’s state-owned utility firm, on Wednesday unveiled plans to build the country’s first utility-scale solar independent power project (IPP) in Ibri with a capacity to generate 500 megawatt of

Qatar’s trade surplus surges by 54.8%
(The Peninsula - 28/12/2017)

Qatar’s trade surplus expanded to QR12.8bn in November, a 32 percent jump from a year ago and 54.8 percent surge from the previous month, a preliminary data released by the Ministry of Development Planning and Statistics showed yesterday. In November

Saudi Arabia, UAE to roll out VAT in 2018
(The Peninsula - 28/12/2017)

Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago.

Sharjah Chamber meets with South African consul-general
(Gulf News - 28/12/2017)

Executives from the Sharjah Chamber of Commerce and Industry met with the consul-general of South Africa to discuss ways of developing joint relations between the Chamber and the consulate. In a statement, the Chamber said the two parties discussed ways

UAE inflation rate at 1.7% in November
(Gulf News - 28/12/2017)

Consumer prices in the UAE rose 1.73 per cent in November 2017 compared to the same month last year, as the prices of food and beverages and tobacco went up. According to figures released by the UAE’s National Bureau of Statistics, prices of

Consumers rush to buy electronics ahead of VAT roll-out
(Gulf News - 28/12/2017)

Retailers are in a buoyant mood in the final week before the implementation of VAT (value-added tax) on January 1. They say December has seen higher sales than the last few months. Stanly Joseph, group area manager at Al Rais Group, said that many people

Ibri to host Oman’s first solar power project
(Oman Daily Observer - 28/12/2017)

A Request for Qualifications (RfQ) for Oman’s first utility scale solar Independent Power Project (IPP) will be issued here today, paving the way for the aggressive and accelerated adoption of renewables as a source of power generation in the Sultanate.

DEWA strengthens cooperation with high-level delegation from Philips
(Media Office Dubai - 28/12/2017)

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received Goktug Gur, President & CEO of Philips Lighting in the Middle East and Turkey; and Samir Al Aref, Commercial Director. This is one of many visits made by

VAT criteria in education sector
(The Gulf Today - 28/12/2017)

The supply of educational services shall be subject to the zero rate if the supply of educational services is provided in accordance with the curriculum recognized by the federal or local competent government entity regulating the education sector where

Saudi Arabia to spend $346m on new educational projects
(Trade Arabia - 28/12/2017)

Saudi government plans to build 31 new technical education institutions in Makkah province at an investment of SR1.3 billion ($346 million) through its Technical and Vocational Training Corporation (TVTC), said a report. The TVTC in co-operation with the

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