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Abu Dhabi Ports in Talks for Africa Deal to Feed Trade With Asia
(Bloomberg - 31/07/2017)

Abu Dhabi Ports, the government-run terminal operator, is discussing a possible deal in Africa to take advantage of the continent’s growing trade with Asia, Chief Executive Officer Mohamed Juma Al Shamisi said. Shipping between Africa and Asia is

Dubai real estate transactions value hits $36bn in H1
(Trade Arabia - 31/07/2017)

Real estate transactions in Dubai, UAE during the first half (H1) the year reached a value of Dh132 billion ($36 billion), achieved through 35,571 sales, mortgages and other transactions, according to figures released by Dubai Land Department (DLD).

Saudi central bank reserves up for first time in a year
(The National - 31/07/2017)

Net foreign assets at the Saudi Arabian Monetary Agency increased to US$493.2 billion in June from $491.7bn in the previous month, according to a monthly report published on its website. It was the first increase since May 2016, according to data

Qatar’s foreign trade surplus expands 63.6% to QR12.51bn in June despi
(Gulf Times - 31/07/2017)

Notwithstanding the economic embargo, Qatar’s foreign trade surplus expanded 63.6% year-on-year to QR12.51bn in June, mainly on higher exports of petroleum gases, according to official figures. The country’s foreign merchandise trade surplus expanded

Oman-India JV to map land-use plan for Muscat, South Batinah
(Oman Daily Observer - 31/07/2017)

The partnership of the National Engineering Office (NEO), a well-known engineering consultancy firm of the Sultanate, and LEA Associates South Asia Private Limited (LASA) of India, has been selected by Oman’s Supreme Council for Planning to develop

Islamic Development Bank seeks proposals for dollar sukuk
(Gulfnews - 31/07/2017)

Saudi Arabia’s Islamic Development Bank (IDB) has asked banks for proposals to arrange a US dollar-denominated sukuk, banking sources said on Sunday. The Jeddah-based multilateral development bank is a regular issuer of international Islamic bonds, which

Sanctions slashed Qatar imports in June, non-gas exports affected -d
(Gulfnews - 31/07/2017)

Sanctions imposed by three other Gulf states and Egypt slashed Qatar’s imports by more than a third in June while exports excluding its vital shipments of liquefied natural gas (LNG) were also disrupted, official data showed on Sunday. Imports shrank

Dubai’s real estate records a robust Dh132b in first half deals
(Gulfnews - 31/07/2017)

Dubai Marina and Business Bay retained their status as investor hotspots as overall property transactions in Dubai totalled Dh132 billion in the first half of 2017. This was done through 35,571 deals, and the amount represents a significant gain from the

ADFD finances Dhs9b projects in Morocco
(The Gulf Today - 31/07/2017)

The Abu Dhabi Fund for Development (ADFD), has supported Morocco with grants and concessionary loans worth Dhs9 billion across 76 development projects. The projects spanned diverse sectors, most notably transport, housing, water and agriculture,

UAE transport projects’ value at $87b in 1H ’17
(Saudi Gazette - 31/07/2017)

The total value of 481 active transport projects exceeded AED 321.49 billion ($87.6 billion) in the first half of 2017, according to BNC Network, – the largest and most comprehensive construction intelligence service in the Middle East and North Africa

3 credit rating agencies see Saudi Arabia as stable
(Saudi Gazette - 31/07/2017)

Fresh cuts in the debt ratings of Bahrain and Oman underline a growing gap between the weakest Gulf Arab economies and the others - a gap which may not yet be fully reflected in market prices. Moody's downgraded Bahrain by two notches on Friday to B1,

SOHAR Port, Freezone turning into regional hub
(Saudi Gazette - 31/07/2017)

SOHAR has released new figures showing a solid first-half of 2017, as both the Port and Freezone continue to play a crucial role in the diversification and globalization of Oman’s economy. Despite on-going issues in the maritime industry and the

UAE petrol and diesel prices to go up in August
(Arab News - 31/07/2017)

UAE petrol and diesel prices will go up next month, the Ministry of Energy announced on Sunday, the first time pump prices will go up after three months of decline. Starting Tuesday, motorists will have to pay Dh1.89 for each liter of Super 98, up 1.6

Saudi investor buys significant stake in the Independent
(The Guardian - 30/07/2017)

Sultan Muhammad Abuljadayel’s deal, which sees him take a stake of between 25% and 50%, values the holding company at more than £100m. A Saudi investor has taken a significant stake in the Independent, potentially pumping millions of pounds into the

Moody's downgrades Bahrain, Oman ratings
(Trade Arabia - 30/07/2017)

Moody's Investors Service has downgraded Bahrain's long-term issuer rating to B1 from Ba2 and maintained the negative outlook and Oman's long-term issuer and senior unsecured bond ratings to Baa2 from Baa1 and changed the outlook to negative from stable.

Bahrain’s value of imports up 8pc in Q2
(Trade Arabia - 30/07/2017)

Bahrain’s value of imports increased by 8 per cent to BD1.275 billion ($3.38 billion) during the second quarter of 2017, compared to BD1.176 billion ($3.11 billion) for the same quarter in 2016, said a report. The top 10 countries exporting to Bahrain

UAE to benefit from China’s One Belt, One Road programme
(The National - 30/07/2017)

The UAE has come a long way from its origins as a pearling industry centre in the 19th and early 20th centuries. In just over four decades, our nation has taken a giant leap forward to become what it is today: an entrepreneurial success story with

Central bank circular provides direction on IFRS 9
(Times of Oman - 30/07/2017)

Most Omani banks have completed their half-yearly reporting obligations. It is now advised that banks should focus on the looming deadline of January 1, 2018 for adoption of IFRS 9 Financial Instruments. Earlier this year, Central Bank of Oman (CBO)

Qatar Chamber looking to boost investment in Iraqi Kurdistan
(The Peninsula - 30/07/2017)

Qatar Chamber of Commerce and Industry discussed mechanisms to enhance trade and investment cooperation between the Qatari private sector and its Iraqi counterpart. This came during a series of meetings held by the Vice-President of Qatar Chamber Mohamed

GCC’s LED lighting market to grow 16%
(Saudi Gazette - 30/07/2017)

The increase in global demand for lighting solutions, with an emphasis on energy efficient sources, is reshaping the lighting industry, while the continued market expansion in the region puts the Middle East in the spotlight as global majors target Light

Ras Al Khaimah property market gets boost from tourism,hospitality sec
(Arab News - 30/07/2017)

Ras Al Khaimah’s tourism and hospitality sectors buoyed the emirate’s property market during the first half, thanks to continuing government efforts promote it as a visitor destination. The residential market meanwhile continued to suffer from weaker

Moody’s downgrades Bahrain rating to B1
(Arab News - 30/07/2017)

Moody’s Investors Service downgraded the Bahrain’s long-term issuer rating to B1 from Ba2, and maintained its negative outlook for the country. “The credit profile of the Bahraini government will continue to weaken materially in the coming years,

Abu Dhabi group to set up $150m Vietnam petchem JV
(Trade Arabia - 27/07/2017)

Abu Dhabi-based Baron Point Petroleum Services Company (Baron Point Petroleum) has reached an agreement with national oil and gas company PetroVietnam Oil Corporation (PV Oil) to set up a joint venture that will finance, build and operate petroleum

Bank interest rates in Oman increase amid tight liquidity situation
(Times of Oman - 27/07/2017)

Bank interest rates in Oman have increased in view of the tight liquidity situation and increased competition among banks for deposit mobilisation. The weighted average interest rate on total deposits—both rial Omani and foreign currency deposits—rose to

Kuwait seeks energy venture with traders from Glencore to Vitol
(Gulf Times - 27/07/2017)

Opec member Kuwait plans to start trading energy and not just producing it, joining other Middle Eastern producers eager to claw back some of the profit traders like Vitol Group and Glencore earn by buying and selling the region’s oil. State-run Kuwait

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