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Bahrain’s value of imports reach $1.14bn in July
(Trade Arabia - 31/08/2017)

Bahrain’s value of imports reached about BD433 million ($1.14 billion) in July this year, according to the foreign trade report for the month issued by the kingdom’s Information & eGovernment Authority (iGA). The report also noted that the top 10

UAE law firm out to disrupt status quo
(The National - 31/08/2017)

The picture in my mind of the archetypal corporate lawyer is of the formidable and besuited Harvey Specter of the faintly ridiculous American TV show Suits, all perfectly whitened gnashing teeth and razor sharp put downs. Basically, the last person in

UAE hotels look to Eid business boon
(The National - 31/08/2017)

Hotels in the UAE, the second-biggest economy in the Arabian Gulf region and the top business and commercial hub of the wider Middle East, are gearing up for a four-day revenue bonanza as the country prepares to welcome flocks of tourists from the GCC

Qatar Foreign Minister, Russian counterpart discuss bilateral ties
(Gulf Times - 31/08/2017)

HE the Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman al-Thani met yesterday with Foreign Minister of the Russian Federation Sergey Lavrov, currently visiting the country. During the meeting, the ministers discussed bilateral relations

Oman’s central bank raises OMR32m from treasury bills
(Times of Oman - 31/08/2017)

Oman’s central bank raised OMR32.27 million by way of treasury bills this week. The treasury bills have a maturity period of 91 days, from August 30 until November 29, 2017. The average accepted price reached 99.705 for every OMR100 and the minimum

Duqm authority signs OMR199m contract to build liquid berth
(Times of Oman - 31/08/2017)

Duqm special economic zone authority on Wednesday signed an engineering, procurement and construction (EPC) contract valued at OMR199.1 million with Boskalis Westminster (Oman) for building a liquid berth at Duqm. The planned liquid berth will enable

UAE’s credit growth turns positive, but credit demand remains weak
(Gulfnews - 31/08/2017)

The UAE’s total banking sector credit returned to positive monthly growth in July, reaching 0.2 per cent month on month after a contraction of 0.5 per cent in the previous month, according to UAE Central Bank data. Modest monthly improvement credit

Abu Dhabi receives 2.6m hotel guests in 7 months
(The Gulf Today - 31/08/2017)

Up to 2.6 million guests were welcomed by Abu Dhabi hotels during the first seven months of 2017, with a 4 percent uplift recorded last month, compared to July 2016, according to figures released by Abu Dhabi Tourism and Culture Authority, TCA. Around

IMF: Rift boosts transport, food costs in Qatar
(Saudi Gazette - 31/08/2017)

The International Monetary Fund said Wednesday that transportation and food costs in Qatar have “edged up” due to a diplomatic rift that led four Arab countries to cut ties with the small Gulf state. An IMF team visited the capital, Doha, this week,

Electric cars shift into new gear in Gulf
(Arab News - 31/08/2017)

Gas-guzzling motors may be commonplace in the Gulf, but an era of electric cars whizzing along the region’s superhighways is just around the corner. Cheap fuel and the love of fast, luxurious automobiles in the region has meant that drivers have been

Saudi-backed Uber officially welcomes new CEO
(Arab News - 31/08/2017)

Uber officially welcomed its new Chief Executive Dara Khosrowshahi, who has led online travel business Expedia Inc. for 12 years, in a note sent to employees of the world’s biggest ride-services company late on Tuesday. The board had already selected

Sharjah hospitality revenues hit $101.2m in H1
(Trade Arabia - 30/08/2017)

Sharjah’s hospitality sector revenues witnessed a remarkable 7.8 per cent increase during the first half of 2017 compared with the previous year, with its value reaching Dh372 million ($101.2 million), the Sharjah Commerce and Tourism Development

Dubai real estate draws $41bn investment in 18 months
(Trade Arabia - 30/08/2017)

A total of Dh151 billion ($41.1 billion) was invested in Dubai property market by 217 nationalities during the last 18 months, according to latest figures released by the Dubai Land Department. The DLD revealed the figure while announcing a list of the

Profitability to remain resilient for top UAE lenders
(The National - 30/08/2017)

The top four banks in the UAE, with a combined deposit base of Dh1 trillion, will post sturdy profits in the next 12 to 18 months on the back of higher returns on loans and stable funding cost, despite sluggish economic growth and weaker fee and

Qatar Financial Centre registers record number of businesses
(The Peninsula - 30/08/2017)

The Qatar Financial Centre (QFC), Qatar’s onshore business and financial centre, announced an enhanced registration process for local and international firms. Once firms have completed their incorporation documents and submitted them to the QFC, the new

Oman’s central bank to raise OMR150m from development bond issue
(Times of Oman - 30/08/2017)

Oman’s central bank plans to raise OMR150 million from a development bond issue. The bonds will have a maturity period of 10 years and will carry a coupon rate of 5.75 per cent per annum. The issue will open for subscription between September 10 and 14,

UAE ad sector builds on real estate upturn
(Gulfnews - 30/08/2017)

The benefits from all the recent property launches and off-plan sales in Dubai have not been confined to the real estate sector. The spike in activity has rubbed off on the fortunes of the local ad industry. Real estate specific advertising was up 42 per

UAE to participate in China-Arab States Expo
(The Gulf Today - 30/08/2017)

The UAE, represented by a senior delegation, will participate in the China-Arab States Expo 2017 that will take place from 6th to 8th September in Yinchuan, the capital city of Ningxia Province in northwest China. The Ministry of Economy held a

All eyes on Sharjah FDI Forum 2017
(The Gulf Today - 30/08/2017)

The Sharjah FDI Forum 2017 will address a range of key topics on the economy and investment and the direct impact of the Fourth Industrial Revolution (4IR), which is the theme of the forum, on enhancing international competitiveness through adopting the

185,000 hotel rooms to welcome pilgrims
(Saudi Gazette - 30/08/2017)

Religious tourism is a cornerstone of the tourism industry in the Saudi Arabia. The country hosts up to 8 million pilgrims annually, and is expected to host 30 million by 2030. An increase rate of 275% coincides with the Kingdom’s intensified efforts in

Kingdom shortlists 25 bidders for major wind plant
(Saudi Gazette - 30/08/2017)

Saudi Arabia invited bids Tuesday from 25 shortlisted companies to build a 400 megawatt wind power project, as the world's top oil exporter pushes for renewable sources to diversify its energy mix. The plant in northern Al-Jouf province is the first

69% of UAE employers plan to hire within next year
(Gulfnews - 29/08/2017)

Seven in ten companies in the UAE plan to hire new employees in the next 12 months, according to the latest research. A survey among nearly 1,500 respondents conducted between May 19 and July 19 found that 69 per cent of UAE employers plan to recruit new

Qatar faces further pressure as Fitch downgrades sovereign rating
(Gulfnews - 29/08/2017)

Fitch Ratings downgraded Qatar’s sovereign ratings on Monday, citing concerns of adverse impact on the economy from the economic sanctions imposed by Arab nations led by Saudi Arabia, the UAE and Bahrain. The rating agency lowered Qatar’s sovereign

Qatar banks capable to face any siege impact
(The Peninsula - 29/08/2017)

Qatar Central Bank Governor H E Sheikh Abdullah bin Saoud Al Thani, has stated that the local banks are capable of facing any possible ‘abnormal conditions’ resulting from the siege imposed on the country. The Qatari banking system is strong and

UAE, Chad to further boost financial ties
(The Gulf Today - 29/08/2017)

Sultan Bin Saeed Al Mansoori, Minister of Economy, recently received Mohamed Hamed Kawa, Minister of Commerce and Industry of the Republic of Chad, and his delegation at the headquarters of the General Civil Aviation Authority, GCAA, in Dubai. The two