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UAE budget to boost real estate sector in medium term:JLL
(Saudi Gazette - 17/10/2018)

The UAE cabinet announced a new federal budget of AED 60.3 billion in September, paving the way for a significant increase in government spending that will in turn benefit the Dubai real estate market, revealed JLL’s latest Q3 report.<br/><br/> The

King Abdullah Port major participant in UAE Maritime Week
(Saudi Gazette - 17/10/2018)

King Abdullah Port has announced its participation as a sponsor and speaker at the UAE Maritime Week, the Middle East’s first comprehensive maritime event. The port’s participation comes in an effort to capitalize on the major opportunities offered by

Maalem Financing raises $26m in debut sukuk
(Arab News - 17/10/2018)

Saudi Arabia’s Maalem Financing has raised SR100 million ($26.6 million) from a debut sale of Islamic bonds, or sukuk, as the firm seeks to develop a crowdfunding product and expand its operations, a senior executive said on Tuesday.<br/><br/> The sukuk

CBO issues treasury bills worth OMR30mn
(Times of Oman - 17/10/2018)

Oman’s central bank raised OMR30 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from October 17, until November 14, 2018.<br/><br/> The average accepted price reached 99.830 for every

Middle East investment banking fees down 8% in first nine months
(Gulf News - 17/10/2018)

Middle Eastern & North African investment banking fees totalled an estimated $684 million (Dh2.5 billion) during the first nine months of 2018, 8 per cent less than the value of fees recorded during the same period in 2017, according to the latest data

UAE leads GCC in global competitiveness
(Gulf News - 17/10/2018)

The UAE has been ranked 27th in the World Economic Forum’s Global Competitiveness Report 2018. With a competitiveness index score of 73.4, the UAE leads the Gulf Cooperation Council (GCC) region in the global ranking of 140 countries.<br/><br/> Saudi

Qatar needs strategy shift to maintain global LNG title
(The Peninsula - 17/10/2018)

With major changes happening in the global LNG space, both on the supply and demand sides, Qatar needs to readjust its strategy in order to maintain its leading position as global LNG supplier.<br/><br/> Delivering Carnegie Mellon University-Qatar Dean’s

Sharjah Chamber, Etihad Credit Insurance to support exporters
(The Gulf Today - 17/10/2018)

The Sharjah Chamber of Commerce and Industry (SCCI) and the Etihad Credit Insurance (ECI) have held discussions on organising joint programmes to support local exporters in Sharjah, as well as encourage small and medium industrial enterprises to enhance

VAT refund procedures simplified for UAE home buyers
(Trade Arabia - 17/10/2018)

The UAE's Federal Tax Authority (FTA) has simplified the procedures to reclaim value added tax (VAT) for Emirati nationals who are building new residences, according to a report.<br/><br/> The FTA stressed the need for citizens who apply for VAT refunds

Oman to develop $1.6bn solar projects in 5 years
(Trade Arabia - 17/10/2018)

Oman is planning to develop four utility-scale solar-based projects worth RO616 million ($1.6 billion) at key locations across the sultanate over the next five years, said a report.<br/><br/> These renewable energy projects will boast a total capacity of

Saudi Arabia switches on power sector reforms
(Trade Arabia - 17/10/2018)

Saudi Arabia has started implementing a long awaited overhaul of its power sector to curb rising demand and promote more competition, according to Arab Petroleum Investments Corporation (Apicorp), the multilateral development bank focused on the energy

Kuwait keen on ‘executing’ economic deals with China
(Arab Times - 17/10/2018)

Kuwait government is keen on transforming recent economic agreements with China into reality, assigning relevant departments to implement them and remove all obstacles facing execution. The government, chaired by His Highness the Prime Minister Sheikh

MENA economic growth hinges on small and medium enterprises
(Saudi Gazette - 16/10/2018)

As efforts to stimulate economic growth in the Middle East and North Africa (MENA) territory remain on course, focus is now shifting to small and medium enterprise-driven strategies in a bid to accelerate growth, a report by Allied Investment Partners

Riyadh Future Investment Initiative summit on schedule for next week
(Arab News - 16/10/2018)

Officials and business leaders including US Treasury Secretary Steve Mnuchin, IMF Managing Director Christine Lagarde and JPMorgan Chase CEO Jamie Dimon are set to attend an investment summit in Saudi Arabia next week.<br/><br/> The Future Investment

Revenues of Omani hotels rise 8.7%
(Times of Oman - 16/10/2018)

The total revenue of Omani hotels in the three-to-five-star category rose by 8.7 per cent to OMR131.96 million in the first eight months of 2018 from OMR121.45 million for the same January-August period of last year.<br/><br/> Hotel occupancy rates also

Qatar’s trade volume with Germany and Italy at QR18.97bn
(The Peninsula - 16/10/2018)

Qatar’s economic and trade cooperation with Germany and Italy is expected to witness a major boost in the coming years. All the stakeholders, including top government officials and business leaders from all these countries are working aggressively to

Strategy to enhance gas allocation for industry
(Oman Daily Observer - 16/10/2018)

Oman’s authorities have pledged to increase the allocation of natural gas — as feedstock and fuel resource — for industrial and economic investments in line with the government’s vision to enhance non-oil activities in the Sultanate.<br/><br/> A

UAE digital health start-ups raise $11.5b in 2017
(The Gulf Today - 16/10/2018)

Arab Health, an exhibition for healthcare and trade professionals in the Mena region, has outlined the role of tech start-ups in playing a more vital role in the healthcare industry in areas such as personalised medicine and more efficient

Technology keystone of UAE vision: VP
(The Gulf Today - 16/10/2018)

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum said that technology is key to realising the UAE’s future vision to harness innovative solutions for the benefit of humanity. He said that

Dubai residential market 'under pressure' in Q3
(Trade Arabia - 16/10/2018)

Dubai’s property pipeline is expected to exert continued pressure on the residential market with an additional 10,000 units set to be delivered this year and a further 70,000 before Expo 2020 - according to leading international real estate services

Mena's M&A transaction value surges to $45bn in Q3
(Trade Arabia - 16/10/2018)

The value of the merger and acquisition (M&A) transactions with any Middle Eastern and North African involvement during the first nine months of the year has hit $45.1 billion, up 65 per cent over the same period last year, thus hitting an eight-year

Kuwaiti-Qatari trade volume touches $360 million in 2017
(Arab Times - 16/10/2018)

The volume of trade between Kuwait and Qatar has surged to $360 million in 2017, a significant growth by 100 percent, compared to $173 million in 2016, Kuwait Chamber of Commerce and Industry announced Monday.<br/><br/> Meanwhile, KCCI mentioned, in a

Oman holds roadshows in KSA to promote popular tourist attractions
(Saudi Gazette - 15/10/2018)

As part of its intensive tourism campaigns this year, Oman’s Ministry of Tourism hosted a two-city roadshow in the Kingdom of Saudi Arabia (KSA) as part of its series of tours of its neighboring GCC states to promote the Sultanate as an ultimate

Saudi Arabia’s investment conference set to attract
(The National - 15/10/2018)

Saudi Arabia’s sovereign wealth fund’s Future Investment Initiative conference is slated to attract movers and shakers from across the business world later this month.<br/><br/> Following the success of last year’s event where Crown Prince Mohammed bin

UAE, Saudi banks to benefit from rising interest rates
(Gulf News - 15/10/2018)

Banks in the UAE and Saudi Arabia are expected to benefit from the rising interest rates after the recent interest rate hike by the Federal Reserve, according to rating agency Moody’s and independent analysts.<br/><br/> Central banks of both countries

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