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Small industries get a boost from Sharakah
(Times of Oman - 30/03/2017)

Sharakah’s total investment in Small and Medium Enterprises (SMEs) rose by OMR27,000 to OMR807,000, despite the challenges the economy is facing due to the financial crisis, the chairman of the board said. Sharakah held its annual general meeting (AGM)

UAE healthcare market on track to top $28bn
(Trade Arabia - 30/03/2017)

A shift in demand for preventive care, a rise in specialist services and digital health will drive the UAE healthcare market to surge from the current Dh64 billion ($17 billion) to over Dh103 billion ($28 billion) by 2021, a report said. More efficiently

Abu Dhabi fund loses crisis-related arbitration against Citigroup
(Gulfnews - 30/03/2017)

Citigroup Inc has prevailed in the latest arbitration pursued by Abu Dhabi Investment Authority over the sovereign wealth fund’s $7.5 billion (Dh27.5 billion) investment in 2007 to shore up the then-struggling bank during the sub-prime mortgage

Dubai Entrepreneurship Academy supports growth
(The Gulf Today - 30/03/2017)

The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, Dubai SME, a part of Dubai’s Department of Economic Development, plays a vital role in promoting entrepreneurship in Dubai, according to Dubai Crown Prince and Chairman

Saudi top 20 brands valued at $37 billion
(Saudi Gazette - 30/03/2017)

The first BrandZ brand valuation ranking of Saudi Arabian brands by WPP and global research specialists Kantar Millward Brown, in partnership with Prince Mohammad bin Salman College of Business and Entrepreneurship (MBSC), showed that Saudi Telecom

Omani companies can register online from August
(Times of Oman - 29/03/2017)

Omani companies can register themselves online from August, officials announced after an agreement was signed between Data Park and the Oman Chamber of Commerce and Industry (OCCI), which took place at COMEX on Tuesday. Companies will be able to register

QTA & QFC to boost business event firms
(The Peninsula - 29/03/2017)

Qatar Tourism Authority (QTA) and the Qatar Financial Centre (QFC) have signed a memorandum of understanding aimed at facilitating the establishment of business events companies in Qatar. Through the agreement, QFC has added business events companies to

Post-Brexit trade: Qatar & UK plan joint committee
(The Peninsula - 29/03/2017)

British Prime Minister Theresa May has said the UK will set up a joint economic and trade committee to pave the way for a post-Brexit trade agreement with Qatar and other GCC countries. Addressing the Birmingham session of the two-day Qatar-UK Trade and

Bahrain’s business climate 'to woo more foreign investors'
(Trade Arabia - 29/03/2017)

Bahrain’s burgeoning business environment continues to create foreign investment opportunities, despite the knock-on effect of an uncertain globally economy, said Servcorp, a leading provider of serviced offices and business package solutions in the

VAT registration required for firms with annual revenues of $100,000+
(Oman Daily Observer - 29/03/2017)

More details have emerged about the scope and specifics of the proposed value added tax (VAT) regime due to be rolled out in Oman, and the wider Gulf Cooperation Council (GCC) region, effective from January 1, 2018. According to leading global

Abu Dhabi Ports announces expansion of free trade zone
(Gulfnews - 29/03/2017)

Abu Dhabi Ports on Tuesday announced the expansion of free trade zone to accommodate more industries. Khalifa Port Free Trade Zone (KPFTZ) is a 100 square kilometre free zone area located adjacent to Khalifa Port. “KPFTZ provides numerous advantages to

Trade surplus narrows to 11-year low in 2016 – Imports flat
(Arab Times - 29/03/2017)

Kuwait’s trade surplus retreated to an 11-year low of KD 4.7 billion in 2016 or 14 percent of GDP, as oil export earnings remained weak against a backdrop of limited import growth. Oil export revenues continued to be weighed down by lower oil prices,

$3b Saudi-Jordanian joint fund an investment milestone
(Saudi Gazette - 29/03/2017)

The establishment of a joint fund to launch an estimated $3 billion worth of investments was a milestone in the implementation of a project that would serve the interests of both the kingdoms, a senior Saudi official said. Chief Executive, Managing

Saudi oil tax reduction positive step to increase income sources diver
(Arab News - 29/03/2017)

Saudi Aramco has welcomed the introduction of the new tax regime for all hydrocarbon producers operating in the Kingdom as another positive step in the diversification of the Kingdom’s economy. Reacting to the Royal Order, Saudi Aramco President and CEO

Qatar wealth fund CEO sees Brexit investment opportunities
(Gulf Times - 28/03/2017)

Qatar’s $335bn sovereign wealth fund sees opportunities to invest in Britain after Brexit and is looking at infrastructure, healthcare and technology, the fund’s head told a London conference yesterday. The Qatar Investment Authority (QIA) has in recent

Bank interest rates in Oman rise on tight liquidity
(Times of Oman - 28/03/2017)

Oman's bank interest rates have shown a substantial year-on-year increase due to the tight liquidity situation in the financial system. According to the latest monthly statistics released by the Central Bank of Oman, the weighted average interest rate of

Saudi insurance firms to provide no-claim discounts
(Trade Arabia - 28/03/2017)

Insurance companies in Saudi Arabia are required to provide no-claim policyholders with a discount when pricing individual mandatory motor insurance policies as per Saudi Arabian Monetary Authority (Sama) instructions, a statement said. Such a discount

UAE aims to attract $75b in manufacturing sector by 2025, economy mi
(Gulfnews - 28/03/2017)

The UAE is aiming to attract $75 billion by 2025 into the country’s new industrial manufacturing sector, the UAE economy minister said in Abu Dhabi on Monday. In his inaugural address at the world’s first Global Manufacturing and Industrialisation

Saudi healthcare sector gathers to achieve ‘Vision 2030’ targets
(Saudi Gazette - 28/03/2017)

The Kingdom’s SR270 billion healthcare plan under Vision 2030 will set Saudi Arabia on a fast trajectory to growth in the sector, projected to be a SR92.6 billion market by 2020. Partial growth will be technology and informatics driven. Dr. Yacoub bin

Kingdom cuts taxes on oil companies
(Saudi Gazette - 28/03/2017)

Saudi Arabia on Monday cut taxes on oil companies in a major move that could attract investments in its energy giant Aramco. Custodian of the Two Holy Mosques King Salman issued a Royal decree announcing new set of income tax rates on oil companies

UAE industrial investments reach Dhs112b
(The Gulf Today - 28/03/2017)

Emirati investments in the industrial sector amounted to Dhs112 billion in 2016, accounting for 86 per cent of the total investments in this vital sector to the national economy, UAE Minister of Economy Sultan Bin Saeed Al Mansouri has said. Ahead of the

Kuwaiti-Malaysian trade hits $620 mln in 2016
(Arab Times - 28/03/2017)

Trade exchange between Kuwait and Malaysia reached $620 million in 2016, Malaysia’s External Trade Development Corporation (MATRADE) revealed on Monday. Speaking to KUNA on the sidelines of a press conference on the Malaysia International Halal Showcase

Qatar to invest $6.3bn in UK in 3-5 years
(Arab News - 28/03/2017)

Qatar will invest £5 billion ($6.3 billion) in Britain over the next few years, the country’s minister of finance said during a visit to London on Monday. Earlier, the head of the Gulf Arab state’s sovereign wealth fund said he still saw opportunities to

Foreign direct investment in Oman touches OMR7b
(Times of Oman - 27/03/2017)

Foreign direct investment (FDI) in the Sultanate at the end of third quarter of 2016 exceeded OMR7.02 billion, according to the National Centre for Statistics and Information (NCSI). Sector wise, the oil and gas exploration attracted foreign investment

Qatar's trade surplus at QR12.3bn in Feb
(The Peninsula - 27/03/2017)

Qatar’s foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR12.3bn in February, a increase of about QR5.2bn or 74 percent compared to February 2016. The trade balance has risen by