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SMEs to drive economic growth in GCC
(Saudi Gazette - 31/10/2018)

The second India-UAE Partnership Summit (IUPS) on Tuesday said that the market potential for Small and Medium Enterprises (SMEs) in the GCC is poised to touch $920 billion in the next five years compared to the current $360 billion, a growth of 156 per

UAE unit to lure foreign investors
(Arab News - 31/10/2018)

The UAE announced on Tuesday the establishment of a special unit at the Economy Ministry to help lure foreign investors. The establishment of the foreign direct investment unit was ordered by President Sheikh Khalifa bin Zayed Al-Nahyan in a

Quality of education in Mideast low despite high investment: QCB
(Gulf Times - 31/10/2018)

The Qatar Central Bank (QCB) yesterday said the expenditure on education in the Middle East region is high but the quality and effectiveness associated with it has not kept the required pace.<br/><br/> “Expenditure on education is high in this region but

CBO issues treasury bills worth OMR76.50mn
(Times of Oman - 31/10/2018)

Oman’s central bank raised OMR76.50 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from October 30 until November 28, 2018.<br/><br/> The average accepted price reached 99.830 for every

UAE to amend retail-banking rules
(Gulf News - 31/10/2018)

The UAE Central Bank has decided to amend retail-banking rules related to personal loan and other services provided to individuals. Under the new rule, the bank set new terms and conditions for the transfer of personal loans or personal finance from one

UAE-India conference kicks off with focus on SMEs
(The Gulf Today - 31/10/2018)

The market potential for Small and Medium Enterprises (SMEs) in the GCC is poised to touch $920 billion in the next five years compared to the current $360 billion, a growth of 156 per cent, significantly enhancing investment prospects in this sector, it

Hamdan opens Islamic Economy Summit
(The Gulf Today - 31/10/2018)

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, officially inaugurated the Global Islamic Economy Summit 2018, GIES, the world’s largest forum dedicated to all aspects of the Islamic

Musanada working on $119m traffic projects in Al Ain
(Trade Arabia - 31/10/2018)

Abu Dhabi General Services Company (Musanada) said that it is currently working on four projects worth Dh438 million ($119 million) to convert roundabouts to signallised intersections, construct underpasses, and ease traffic flow in Al Ain

Dubai home prices, rents continue decline in Q3
(Trade Arabia - 31/10/2018)

Sales prices across Dubai’s residential market registered declines of 1.4 per cent and 1.3 per cent for villas/townhouses and apartments respectively during the third quarter (Q3) of the year, a report said.<br/><br/> Meanwhile, rental declines have

Abu Dhabi’s economic plans to boost $29bn FDI stock
(Trade Arabia - 31/10/2018)

Abu Dhabi Government’s economic diversification plan will boost the stock of Dh108 billion ($29.4 billion) foreign direct investment (FDI) inflow into Abu Dhabi and the emirate’s Dh331.13 billion ($90 billion) foreign trade, according to the Statistics

UAE issues tough anti-money laundering law
(Trade Arabia - 31/10/2018)

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree on anti-money laundering and countering the financing of terrorism.<br/><br/> Commenting on the issuing of the decree, Sheikh Hamdan bin Rashid Al Maktoum, Deputy

EU imports from Kuwait slightly up in August 2018
(Arab Times - 31/10/2018)

The 28-member European Union’s imports from Kuwait, as well as imports of the 19-member Euro area from Kuwait in August 2018 were slightly up compared to August 2017, according to the latest figures released by Eurostat, the EU’s statistical agency. EU

Inflation to ease in Saudi Arabia in 2019 as VAT impact wears off
(The National - 30/10/2018)

Inflation in Saudi Arabia will ease next year, as the effects of fuel subsidy cuts and VAT implementation in Middle East's biggest economy wears off. Inflation in the kingdom is forecast to average 2.6 per cent in 2018, falling to 2.2 per cent in 2019,

Saudi Arabia’s recovery gains pace with higher consumer spending
(Gulf News - 30/10/2018)

Latest macroeconomic indicators from Saudi Arabia points to a sustained recovery in the economy supported by improving consumer spending, corporate and banking sector earnings and gains in government revenues, according to analysts.<br/><br/> A recent

QFC partners with B-Hive to develop FinTech industry
(The Peninsula - 30/10/2018)

The Qatar Financial Centre (QFC) has partnered with B-Hive to develop the financial technology industry (FinTech) in Qatar. A memorandum of understanding (MoU) was signed by Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC and Wim De Waele, CEO and

Japanese-Omani consortium wins contract for PDO’s solar project
(Oman Daily Observer - 30/10/2018)

Petroleum Development Oman (PDO) announced yesterday it has awarded a contract to build a landmark 100 megawatt solar photo voltaic Independent Power Producer (IPP) project to a joint Japanese-Omani consortium.<br/><br/> The Marubeni-led consortium,

France renews commitment to UAE’s industrial F&B sector
(The Gulf Today - 30/10/2018)

Business France, the national agency supporting the international development of the French economy, will be taking centre stage at Gulfhost and the Specialty Food Festival with 2 large pavilions exhibiting products of over 40 companies. Top industrial

UAE, US discuss financial and banking relations
(The Gulf Today - 30/10/2018)

AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, has received a high-level delegation led by Steven T. Mnuchin, US Secretary of the Treasury, at a dinner meeting held in Abu Dhabi. Both parties discussed key banking and financial issues of US and

Fewa, Honeywell enter advanced energy management deal
(Trade Arabia - 30/10/2018)

The UAE’s Federal Electricity & Water Authority (Fewa) signed a memorandum of understanding (MoU) with Honeywell, a global leader in Industrial Internet of Things (IIoT) technologies for buildings, to drive sustainable development and green economy

UAE a top hub for Islamic fintech start-ups
(The Gulf Today - 30/10/2018)

The UAE has been ranked as one of the world’s top Islamic fintech hubs with the country home to 12 start-ups specialising in this field, a new analysis from the Dubai Chamber of Commerce and Industry has revealed.<br/><br/> The analysis, based on recent

FTA’s budget proposal approved
(The Gulf Today - 30/10/2018)

The Federal Tax Authority (FTA)’s Board of Directors on Monday held its sixth meeting, chaired by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, held at the Ministry of Finance premises.<br/><br/> During the

Dubai-S Korea trade surges to $2.3bn in H1
(Trade Arabia - 30/10/2018)

Dubai trade with South Korea grew eight per cent from Dh25.3 billion ($6.8 billion) in 2016 to Dh27.4 billion ($7.4 billion) in 2017, standing at Dh8.7 billion ($2.37 billion) during the first six months of 2018, a media report said.<br/><br/> The

Technology is on top of the agenda for tax practitioners in the Middle East
(Press Release - 29/10/2018)

Deloitte continues to invest in its Tax Technology service line in the Middle East with the appointment of a new Partner and Director. <br/><br/> In an increasingly demanding global environment and with the introduction of Value Added Tax (VAT) in the

Islamic banking on the rise, according to the 2018 ISLAMIC BANKING INDEX by EMIRATES ISLAMIC
(Press Release - 29/10/2018)

The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to the findings of the 2018 ISLAMIC BANKING INDEX by EMIRATES ISLAMIC™ <br/><br/> The index is a benchmark survey revealing the

MENA Cinema Forum opens as global cinema market hits $40b in 2018
(Saudi Gazette - 29/10/2018)

The cinema and movie is playing a pivotal role in cultural unity while MENA Cinema Forum that kicked off at the Grand Hyatt Hotel on Sunday morning, brings over 45 top-notch international speakers, 500 plus delegates from 45 countries in Dubai to dissect

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