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Qatar’s fiscal and external balances will remain surplus: IMF
(The Peninsula - 15/11/2018)

Significant fiscal and external buffers have enabled Qatar to successfully absorb the adverse shocks from the 2014-16 decline in oil prices and the diplomatic rift. The country’s near- to medium-term outlook remains favorable in the context of relatively

Ukraine invites Qatari investors to explore its investment potential
(The Peninsula - 15/11/2018)

The Ukrainian Deputy Prime Minister & Minister of Economic Development and Trade, Stepan Kubiv? said that Qatar is one of his country’s important partners in the Arab world. He said the countries relations are firm and promising and there is a joint

CMA suspends KPMG from auditing regulated firms
(Oman Daily Observer - 15/11/2018)

Wielding the whip against dubious practices by audit firms, the Capital Market Authority (CMA) yesterday announced the suspension of well-known audit firm KPMG from auditing entities regulated by the Authority for a period of one year. It marks the first

UK sees stronger relations with UAE after Brexit
(The Gulf Today - 15/11/2018)

The UK pavilion reflects so much energy; “you can see it from the sky. Someone told me so. It’s so big. It shows how important our presence in the UAE is for us,” Baroness Rona Fairhead CBE, UK Minister of State for Trade and Export Promotion at the

VP enacts changes to DIFC’s legal framework
(The Gulf Today - 15/11/2018)

In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted changes to the Dubai International Financial Centre (DIFC) Authority’s legal and regulatory

GCC undersecretaries agree for unified trade law
(Arab Times - 15/11/2018)

GCC undersecretaries have agreed on a unified trade law, said Khaled Al-Fadhel, Kuwait’s commerce and industry ministry undersecretary said Wednesday.<br/><br/> The 898-article law would be divided into four sub-laws and then forwarded to GCC trade

Bahrain signs deal for new private aviation terminal
(Trade Arabia - 15/11/2018)

An agreement to transform Bahrain's Civil Aviation Affairs (CAA) building into a private aviation terminal to cater to VIPs and business leaders was signed today at the Bahrain International Airshow.<br/><br/> Bahrain Airport Company (BAC) signed the

UAE tax refunds for tourists begins Sunday
(Trade Arabia - 15/11/2018)

The UAE’s Federal Tax Authority said that the digital system for the Tax Refunds for Tourists Scheme will be ready to issue and process VAT refund claims for eligible tourists to recover tax incurred on their purchases as of November 18.<br/><br/> The

Gulf Air, Etihad sign MoU to explore alliance opportunities
(Trade Arabia - 15/11/2018)

Gulf Air, the national carrier of Bahrain, and UAE's Etihad Airways are set to explore deeper cooperation following the signing of a Memorandum of Understanding (MoU) at the Bahrain International Airshow.<br/><br/> The wide-ranging MoU covers scope to

Saudi Arabia plans $400bn spend on IKTVA programme
(Trade Arabia - 15/11/2018)

Saudi Arabia plans to spend more than SR1.5 trillion ($400 billion) on its In Kingdom Total Value Add (IKTVA) programme in the next 10 years with plans to prepare 360,000 trainees for the labour market by 2030.<br/><br/> IKTVA was designed and launched

GCC’s economy continues recovery, seen at 3% in ’19
(Saudi Gazette - 14/11/2018)

Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF said on Tuesday.<br/><br/> The global lender predicted that an overall energy price recovery from

IMF: KSA reform program in right direction but needs to ‘scale up’
(Arab News - 14/11/2018)

Saudi Arabia’s reform process is heading in the right direction, but the Kingdom needs to “scale up” in certain areas of the economy, according to the International Monetary Fund (IMF).<br/><br/> The IMF’s director for the Middle East and Central Asia,

Qatar, Kuwait to drive GCC growth in 2018 and ’19: IMF
(The Peninsula - 14/11/2018)

Qatar’s FIFA 2022--linked infrastructure investments and Kuwait’s implementation of five-year development plans will be the GCC growth triggers in 2018 and 2019. The ongoing preparations for Expo 2020 in the UAE will be another catalyst, IMF said

IMF projects UAE’s economic growth at 3.7 per cent in 2019
(Gulf News - 14/11/2018)

The UAE economy is projected to grow at 2.9 per cent in 2018 and 3.7 per cent in 2019 against an estimated growth of 0.8 per cent, according to the latest regional economic outlook report from the International Monetary Fund (IMF).<br/><br/> “Growth

Japanese investments in Abu Dhabi hit Dhs6.1b by 2017
(The Gulf Today - 14/11/2018)

The size of Japanese investments in Abu Dhabi reached approximately Dhs6.1 billion by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32.<br/><br/> Similarly, the value of non-oil trade between Japan and

Dubai realty sector gains momentum
(The Gulf Today - 14/11/2018)

Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, recorded a growth in net profit of 19 per cent during the first nine months (January to September) of 2018 to Dhs2.498 billion (US$ 680 million),

RAK Chamber in tie-up talks with Swedish team
(Trade Arabia - 14/11/2018)

Ras Al Khaimah Chamber recently hosted a high-level delegation from Sweden to discuss economic and investment opportunities in the sectors of life sciences, manufacturing, clean technologies, smart cities, future transportation and tourism.<br/><br/> The

Bahrain seeks consultancy bids for $4bn Saudi causeway
(Trade Arabia - 14/11/2018)

Bahrain's King Fahd Causeway Authority (KFCA) said it has invited bids from qualified transaction advisory services consultancies for implementing the transitional phase of King Hamad Causeway, a 25-km-long strategic artery linking the kingdom with Saudi

Dubai foreign trade in foodstuff tops $12bn in H1
(Trade Arabia - 14/11/2018)

Dubai’s external trade in foodstuff recorded Dh44.24 billion ($12 billion) in the first half of 2018, according to recent figures released by Dubai Customs in conjunction with the launch of Gulfood Manufacturing Exhibition 2018 in Dubai. Imports made

KCCI ‘hosts’ Turkish economic delegation
(Arab Times - 14/11/2018)

Kuwait Chamber of Commerce and Industry (KCCI) Tuesday morning hosted the Governor of the Province of Urfa in Turkey Abdullah Erin and his accompanying economic delegation. <br/><br/> According to a press release, a board member of KCCI Ahmad Sulaiman

Oil & gas industry a critical enabler of economic growth
(Saudi Gazette - 13/11/2018)

The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC). <br/><br/> Delivering the opening

Energy shocks ‘biggest risk for Middle East business’
(Arab News - 13/11/2018)

Potential energy price shocks are the biggest worry facing business leaders in the Middle East and North Africa, according to a report on global risk by the World Economic Forum (WEF).<br/><br/> The prospect of sharp volatility in energy prices — the

A glimpse into Oman's evolving tax systems
(Times of Oman - 13/11/2018)

Tax reforms have played a pivotal role in supplementing non-oil revenues of Gulf Cooperation Council (GCC) economies as GCC policy makers are compelled to take a fresh look at longer-term structural reforms. Today, the tax landscape in the Sultanate

UAE to implement three initiatives from WEF’s GFC
(Gulf News - 13/11/2018)

The UAE will implement three initiatives to prepare for the future over the next year, which were discussed at the World Economic Forum’s global future council, a senior government official said on Monday at close of the two-day forum.<br/><br/> “These

Over 240 Qatari firms to participate in ‘Made in Qatar’ expo in Muscat
(The Peninsula - 13/11/2018)

Over 240 Qatari manufacturing companies are to participate in the upcoming ‘Made in Qatar 2018’ exhibition to be held under the patronage of the Prime Minister and Minister of Interior H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, from December 3

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