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Mubadala swings to Dh4.2bn profit in the first half of 2017
(The National - 29/09/2017)

Mubadala Investment Company, Abu Dhabi’s strategic investment company with Dh465.5 billion in assets, swung to a profit in the first half of this year on the back of strong operating income, gains from financial investments and favourable currency

Remittances by foreign workers in UAE reaches Dh78 billion
(WAM - 29/09/2017)

The total value of remittances by foreign workers in the UAE reached Dh78 billion during the first half of 2017, representing 48.5 per cent of the total balance of payments in the country in 2016 amounting to Dh160.8 billion. The UAE Central Bank

More efforts required to complete solar energy program in Saudi Arabia
(Arab News - 29/09/2017)

Saleh Al-Awaji, deputy minister for electricity affairs, said that the ministerial committee to regulate the household solar energy requires more efforts to complete the solar energy program, following the regulation sheet put forward by the Electricity

Saudi Arabia Return to Dollar-Bond Market
(Bloomberg - 28/09/2017)

Saudi Arabia raised $12.5 billion from its second dollar bond sale this year as the kingdom bolsters its finances amid an economic overhaul. Emirates NBD Head of Fixed Income Anita Yadav weighs in on "Bloomberg Markets: Middle East."

Saudi Arabia pays 525 billion riyals of private sector bills
(The National - 28/09/2017)

Saudi Arabia, the world's biggest oil exporter, has paid the majority of 525 billion riyals worth of invoices from the private sector received within 60 days of receipt, as the kingdom seeks to settle its dues that have caused mayhem for contractors. The

BNP Is Said Hired to Advise on $7 Billion Saudi Power Plant Sale
(Bloomberg - 28/09/2017)

Saudi Arabia hired BNP Paribas SA to advise on the sale of a $7.2 billion power plant, according to people familiar with the matter. Saline Water Conversion Co., or SWCC, is working with the French lender to find a buyer for the plant, the biggest of its

Windfall to cascade through insurance, retail and auto sectors in KSA
(Arab News - 28/09/2017)

Saudi Arabia is set to reap an economic windfall as millions of women are allowed to drive in the Kingdom for the first time, in a move that is expected to spur spending across a range of sectors. Retailers, insurers and car hire companies are among the

Arab Trade Financing agrees deals worth $387 million
(Trade Arabia - 28/09/2017)

The directors of the Arab Trade Financing Programme (ATFP) have reviewed the funding activity during the second quarter of 2017 and approved 118 requests for the funding of trade deals valued at $387 million, a report said. ATFP held its 111th meeting at

Saudi retail market ‘to top $142bn in 2021’
(Trade Arabia - 28/09/2017)

Saudi Vision 2030 will drive the Kingdom’s retail market to a record-high of $142 billion by 2021, industry experts announced today (September 27) at the Saudi Consumer Forum by digital transformation enabler SAP. Thanks to an increasingly

Saudi PIF to spearhead 'New Jeddah Downtown' project
(Trade Arabia - 28/09/2017)

The Saudi Public Investment Fund (PIF) has announced it will lead the redevelopment of Jeddah’s waterfront corniche, creating a unique tourist, residential and commercial destination, to become the “New Jeddah Downtown”. The project, which has been

Saudi to reap economic windfall from women drivers
(The National - 28/09/2017)

Saudi Arabia will reap an economic windfall following the lifting of restrictions on women drivers next year, according to economists, with the resultant increase in female participation in the country’s workforce set to significantly boost consumer

Qatar's trade surplus registers record growth in August
(Gulf Times - 28/09/2017)

Qatar's trade surplus stood at QR12.62bn this August, showing a healthy more than 45% growth year-on-year (y-o-y), indicating the futile trade and economic blockade, led by Saudi Arabia and the UAE. A double-digit expansion in exports helped Qatar post a

Indonesia to open new investment doors to Qatar and Middle East
(Gulf Times - 28/09/2017)

Qatar stands to gain from its participation in an upcoming economic forum hosted by Indonesia, which is opening investment opportunities to 19 countries in the Middle East, a Qatari businessman has said. “This is a good opportunity for Qatar because the

Oman Shipping plans to acquire two container vessels
(Times of Oman - 28/09/2017)

Oman’s state-owned shipping company plans to acquire two container vessels to replace its current chartered ships. Oman Shipping Company (OSC) is looking for second-hand vessels, each with a capacity of 3,000 twenty-foot equivalent units (TEUs), Tarik

Omani firms to set up production units in Qatar
(The Peninsula - 28/09/2017)

Large number of Omani companies, including several small and mid-sized enterprises (SMEs), are negotiating with local businesses and investors to establish partnerships aiming to set up factories and production units in Qatar, said a senior official of

UAE consumer electronics sales to fall marginally this year
(Gulfnews - 28/09/2017)

The consumer electronics industry in the UAE is expected to fall by 0.23 per cent to Dh11.95 billion, compared to Dh11.97 billion last year, an industry expert told Gulf News. Ahmad Bakr, research analyst at Euromonitor International Middle East, said

Dubai’s office skyscrapers still command sky-high rents
(Gulfnews - 28/09/2017)

Don’t go looking for a cheap rental option in Dubai’s office skyscrapers — there aren’t any available. In fact, the city’s premium high-rise addresses command the 18th most expensive rents in the world, according to latest Knight Frank skyscraper index.

Bahrain hosts 8th Fertilizers Conference of the Gulf Petrochemicals
(Biz Bahrain - 28/09/2017)

Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa today opened the 8th Fertilizers Conference of the Gulf Petrochemicals and Chemicals Union (GPCA). The conference is hosted by the Kingdom of Bahrain for the first time on September 26-28, titled “New

Health insurance vital for Oman’s 1.85m expats: MoH
(Oman Daily Observer - 28/09/2017)

Dr Ahmed bin Mohammed al Saeedi, Minister of Health, has urged insurance industry stakeholders to make common cause in the development of a robust healthcare insurance system that would provide effective coverage to the estimated 1.85 million expatriates

Stage set to implement tax system: FTA
(The Gulf Today - 28/09/2017)

All is set for the planned Excise Tax which goes into effect at the beginning of October 2017. This was announced in Dubai on Wednesday by the Federal Tax Authority (FTA). The new tax will be imposed on carbonated drinks by 50 per cent, and tobacco

UAE tops Government Spending index
(The Gulf Today - 28/09/2017)

The Ministry of Finance announced that the UAE was ranked first in the ‘Efficiency of Government Spending’ index, a sub-criteria of the World Competitiveness Report 2017- issued by the World Economic Forum (Davos) in Switzerland, having ranked second for

Dubai Chamber wins prestigious award at World Chambers Congress in Syd
(Media Office Dubai - 28/09/2017)

The Dubai Chamber of Commerce and Industry has announced that it won the Best Unconventional Project Award at the 10th World Chambers Congress which took place last week in Sydney. The prestigious award, part of the World Chambers Competition 2017,

Dubai summit underscores opportunities for business leadership thru
(Saudi Gazette - 28/09/2017)

The 5th edition of the Global Innovation Summit, organized by SPI GreatSands Group in partnership with Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, was held today at the Jumeirah Beach Hotel,

MENA Competitiveness Index improves
(Saudi Gazette - 28/09/2017)

The MENA region improves its average performance this year – suggesting that measures to diversify economies away from gas and oil are starting to bear fruit, although much needs to be done to lift the region’s overall competitiveness, the latest “Global

Glowork exhibition in Riyadh sharpens careers for women
(Saudi Gazette - 28/09/2017)

Glowork company is holding its fifth annual event on job creation for women under the patronage of Prince Reema bint Bandar Al Saud who is the Vice President of the General Sports Authority. The three-day event at AlFaisaliah Hotel in Riyadh will end on