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January February March
Saudi tourism outstrips overall economic growth in Kingdom
(Arab News - 23/03/2018)

The KSA travel and tourism sector grew four times faster than the wider economy in 2017, according to a report released by the World Travel and Tourism Council (WTTC), on Thursday.<br/><br/> The total contribution of travel and tourism to GDP was SR240.9

Oman's economy to accelerate in 2018-19 on energy exports, BMI says
(The National - 23/03/2018)

Economic growth in Oman is expected to accelerate this year and next, as the biggest Middle Eastern oil producer outside Opec boosts oil and gas exports, BMI Research said.<br/><br/> Real gross domestic product - GDP adjusted for inflation - is projected

UAE, Saudi Arabia discuss civil aviation cooperation
(Gulf News - 23/03/2018)

The General Civil Aviation Authority (GCAA) and a high-level delegation from the Saudi Arabia headed by Saad Bin Abdul Aziz Al Khaleb, Deputy Minister of Transport, have discussed ways of strengthening cooperation between the UAE and Saudi Arabia in the

Saudis hunting for deals plan to meet Amazon, Apple, Google
(Gulf News - 23/03/2018)

The delegation of hundreds of Saudis that’s descended on the US for three weeks will meet executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for foreign investment.<br/><br/> Crown Prince Mohammad Bin Salman, 32, and his team

GCC e-commerce market set to hit $23.7b by 2022
(The Gulf Today - 23/03/2018)

The Gulf Cooperation Council (GCC) e-commerce market is growing rapidly and is expected to reach $23.7 billion by 2022 rising at a rate of 7.2% per annum, according to the findings of the latest study commissioned by Gulf Pinnacle Logistics and conducted

Non-oil growth drives UAE GDP up 1.5pc
(Trade Arabia - 23/03/2018)

The UAE’s economy expanded by 1.5 per cent in 2017, driven by a 2.9 per cent growth in the non-oil sector, according to the UAE Central Bank annual report released yesterday (March 21).<br/><br/> The non-hydrocarbon sector’s resiliency was supported by

$2.45bn financing for Dubai Metro Route 2020 complete
(Trade Arabia - 23/03/2018)

The Government of Dubai's Department of Finance (DoF) has announced the successful completion of a 17-year financing of Dh9 billion ($2.45 billion), to complete the construction of Dubai Metro's Route 2020 extension project.<br/><br/> The project will

Kuwait hikes discount rates – UAE raises rates
(Arab Times - 23/03/2018)

Kuwait’s central bank said on Wednesday it was raising its discount rate by 25 basis points to 3 percent. Its move followed the US Federal Reserve’s decision to hike rates by 25 bps. The United Arab Emirates central bank said on Wednesday that it was

SR207bn US investments in Saudi Arabia
(Saudi Gazette - 22/03/2018)

The volume of US investments in the Saudi market until Feb. 2018 reached over SR207 billion, according to a report of the Saudi Arabian General Investment Authority (SAGIA). Some 373 American companies made investments in a wide range of areas such as

Saudi Arabia tops Arab World University rankings
(Saudi Gazette - 22/03/2018)

Saudi Arabia’s King Abdulaziz University has topped a new Times Higher Education ranking of the best institutions in the Arab region. The Jeddah-based university takes the No. 1 spot in the THE Arab World University Rankings 2018 thanks to its very

Construction sector to remain positive in Dubai, executives say
(Gulf News - 22/03/2018)

MAPEI, the privately owned Italian construction chemicals, yesterday inaugurated its expanded facilities in Dubai. The company is hoping to increase its market share with an additional 5,200 square metres to its facility, through producing new lines and

Saudi Arabia Feb inflation edges down slightly after jump on new tax
(Gulf News - 22/03/2018)

Saudi Arabia’s annual inflation rate fell back marginally in February after jumping in January, when the government introduced a 5 per cent value-added tax (VAT) and hiked domestic gasoline prices, official data showed on Wednesday. Consumer prices rose

UAE economy to benefit from trade growth in 2018
(Gulf News - 22/03/2018)

The UAE’s trade will benefit this year from rising oil prices, improved macroeconomic outlook for country’s key trading partners, and increased government spending, according to an HSBC research.<br/><br/> The HSBC survey, released on Wednesday, shows

Finance professionals imperative for economic diversification
(Oman Daily Observer - 22/03/2018)

ACCA (Association for Chartered Certified Accountants) recognised over 40 members in Oman who achieved a significant professional milestone by becoming ACCA members. They were honoured at an event held at the Crowne Plaza, Muscat earlier this week, which

UAE Central Bank decides to raise interest rates
(The Gulf Today - 22/03/2018)

The Central Bank of the UAE (CBUAE) has announced that, effective from today (Thursday), it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal

Gulf economies set to improve this year: World Bank
(Trade Arabia - 22/03/2018)

The Gulf Cooperation Council (GCC) region witnessed another year of disappointing economic performance in 2017 but growth should improve in 2018 and 2019, according to the World Bank’s biannual Gulf Economic Monitor.<br/><br/> The region eked out growth

$1 trillion energy investment likely in Mena: Apicorp
(Trade Arabia - 22/03/2018)

Almost $1 trillion for energy investment is likely in the Middle East and North Africa (Mena) region over next five years, a research report said.<br/><br/> The annual Mena Energy Investment outlook report by Arab Petroleum Investments Corporation

Kuwait mulls new $12bn mega airport
(Trade Arabia - 22/03/2018)

Kuwait is considering building a new $12-billion world-class mega airport to meet the rapid growth in air traffic, a senior official said.<br/><br/> Directorate general of civil aviation Sheikh Salman Sabah Salem Al-Humoud Al-Sabah was quoted by state

Kuwait plans mega Northern Gulf Gateway project
(Trade Arabia - 22/03/2018)

Kuwait has announced plans to build a mega-project that will attract up to $200 billion in foreign direct investment (FDI) and contribute $220 billion to the country’s GDP.<br/><br/> The ambitious Northern Gulf Gateway, an integrated flagship project for

KFAED signs $15 million loan deal with Republic of Burundi
(Arab Times - 22/03/2018)

A loan agreement between Kuwait Fund for Arab Economic Development and the Republic of Burundi has been signed in Bujumbura whereby Kuwait Fund extends a loan in an amount of KD 4.411 million equivalent to about $15 million to participate in the

Dubai’s Future Blockchain Summit to unlock multibillion dollar opportunities
(Saudi Gazette - 21/03/2018)

In line with the Dubai Blockchain Strategy, announced by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, crown prince of Dubai and chairman of The Executive Council, which mandates that Dubai becomes the world’s first-ever government to execute all

Nearly 85% of Dubai's property market components are tax free
(The National - 21/03/2018)

Dubai's real estate will feel little impact from the UAE's recent introduction of VAT, with nearly 85 per cent of the industry’s components tax free, officials said on Tuesday.<br/><br/> The UAE has exempted residential properties and bare land from the

Qatar Chamber discusses challenges facing private sector
(The Peninsula - 21/03/2018)

Qatar Chamber board member Ali Abdul Latif Al Misnad has said that the chamber is committed to providing all possible support for the private sector in order to do its expected role in the economic boom to achieve the National Vision 2030.<br/><br/> He

Risk and funding costs weigh on UAE banks
(Gulf News - 21/03/2018)

UAE banks continue to perform well, albeit at lower levels of profitability caused by costs growing at a faster pace than operating income, according to the latest UAE Banking Pulse report from Alvarez & Marsal (A&M), a global professional services

Sharjah established women-only business portal
(Gulf News - 21/03/2018)

The Sharjah Business Women Council (SBWC) and the Sharjah Economic Development Department (SEDD) have launched a platform available to women entrepreneurs, aimed at accelerating processes such as applications, permits, visas and licences.<br/><br/> This