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Bahrain wakes up to bond reality as secondary market hit
(Gulf Times - 30/03/2018)

Bahrain reined in its bond-sale plans as investors sought higher yields amid a surge in issuance from the Gulf. After indicating last week that the kingdom could sell as many as three different tenors in a mix of conventional and Islamic debt, it only

Qatar posts 2% real growth in Q4 on non-hydrocarbons
(Gulf Times - 30/03/2018)

Qatar First Bank (QFB), a leading Shari’ah compliant bank based in Qatar and listed on the Qatar Stock Exchange (QSE), has recorded a revenue of QR334.2m for the year ended 31 December 2017. QFB investment portfolio continued to generate healthy

UAE money exchange houses ordered to raise standards by regulator
(Gulf News - 30/03/2018)

The UAE’s huge expatriate workforce and growing business and tourism sectors have made it a global centre for exchanging foreign currencies and transferring money to and from the Middle East, Asia, Africa and parts of Europe.<br/><br/> But some of the

Share of non-oil sector in UAE’s GDP to rise to 80%
(The Gulf Today - 30/03/2018)

The Ministry of Economy is predicting a rise in the share of the non-oil sector in the UAE’s GDP to 80 per cent by 2021, compared to 70 per cent in 2017 while stating that the UAE has the most diverse economy in the Gulf Cooperation Council (GCC)

Dubai International gets 6.9m passengers
(The Gulf Today - 30/03/2018)

Dubai International (DXB), has welcomed nearly 7 million passengers in February, according to the monthly traffic report issued by operator Dubai Airports on Thursday.<br/><br/> The monthly traffic in February totalled 6,928,547 compared to 6,948,157

Bahrain issues $1bn sukuk offering
(Trade Arabia - 30/03/2018)

Bahrain has successfully priced a seven-year $1 billion 6.875 percent sukuk offering. The financing exercise forms part of the kingdom’s prudent approach in managing its funding requirements, said a statement.<br/><br/> The transaction received strong

Saudi Arabia ranks 7th globally in govt spending efficiency: WEF
(Saudi Gazette - 29/03/2018)

Saudi Arabia ranked 7th worldwide in the “efficiency of government spending” index, according to one of the sub-reports of the Global Competitiveness Report 2017-2018 issued by the World Economic Forum.<br/><br/> Saudi Arabia preceded countries such as

Saudi, US companies sign agreements worth $16 billion
(Gulf News - 29/03/2018)

Saudi Arabian and US companies have signed 36 memorandums of understanding worth $16 billion (Dh58.7 million), the official SPA news agency reported. The MoUs were signed in the framework of a business forum in New York and the CEOs of big companies from

SME financing emphasised at Arab trade conference
(Gulf News - 29/03/2018)

The importance of financing small and medium enterprises (SMEs) and facilitating their access to international markets was emphasised at the Arab Trade and Export Finance Conference held in Dubai.<br/><br/> The conference, attended by 130 delegates

UAE, UK, Australia sign aviation security deal
(Gulf News - 29/03/2018)

The governments of the UAE, the UK and Australia on Wednesday signed an agreement to increase cooperation and collaboration regarding airline security. The UK’s Foreign and Commonwealth Office said in a statement that the agreement, one of the first

Government-led initiatives to drive MENA hospitality market
(Oman Daily Observer - 29/03/2018)

The hospitality market across the MENA region witnessed marginal growth in 2017, according to the latest Middle East Hotel Benchmark Survey Report from EY. Except for Egypt and Kuwait, the region’s hospitality markets witnessed a decrease in RevPAR due

11 firms vie for Oman’s biggest water project
(Oman Daily Observer - 29/03/2018)

Leading international water utilities are among 11 firms that have signalled their interest to participate in a competitive tender for the development of Oman’s biggest desalination plant, which is proposed to be established at Al Ghubrah in Muscat

UAE CB announces M1 increase to Dhs509.7b
(The Gulf Today - 29/03/2018)

The Central Bank has announced that the Money Supply aggregate M1 increased by 2.3 per cent, from Dhs498 billion at the end of January 2018 to Dhs509.7 billion at the end of February 2018.<br/><br/> In a statement, the bank said, “The Money Supply

MoE, South Korea to boost trade ties
(The Gulf Today - 29/03/2018)

Sultan Bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of Dubai Islamic Economy Development Centre (DIEDC), has received a high-ranking delegation from South Korea, led by Kim Dong-yeon, Minister of Strategy and Finance and Deputy Prime

UAE best model for 4th industrial revolution, says tech prodigy
(Trade Arabia - 29/03/2018)

The UAE is a unique international model addressing the Fourth Industrial Revolution, through its establishment of the Ministry of Artificial Intelligence and adoption of a national innovation strategy, which aims to create a knowledge-based economy and

Kuwait plans to spend $26bn on new road projects
(Trade Arabia - 29/03/2018)

The Kuwaiti government is set to launch several development projects including building of new roads and related infrastructure at an investment of KD8 billion ($26.6 billion), said the state news agency Kuna citing a top official.<br/><br/> "The

Saudi Arabia, SoftBank to build $200bn solar project
(Trade Arabia - 29/03/2018)

Saudi Arabia and SoftBank Group have signed a memorandum of understanding to build the world's largest solar project in the kingdom at an investment of $200 billion, said a report.<br/><br/> SoftBank founder Masayoshi Son, known for backing ambitious

Arab Women Forum launches in Saudi Arabia
(Saudi Gazette - 28/03/2018)

For the first time ever, the Kingdom of Saudi Arabia will host the “Arab Women Forum” as part of the fourth edition of the “Top CEO Conference and Awards,” which is set to return to the country for the second time on April 10-11 at King Abdullah Economic

Saudi Arabia to sign memorandum with Boeing to support fleet
(Arab News - 28/03/2018)

Saudi Arabia will sign a memorandum of understanding (MoU) with US planemaker Boeing Co. to provide support and training to the kingdom’s fleet on an upcoming visit to Seattle, the chairman of the state-owned military industrial company said on

UAE entrepreneurs focused on saving money for new businesses: Report
(Arab News - 28/03/2018)

A report by global investment advisers organization CFA Institute says the number one goal for UAE savers and investors is putting money aside to start a new business. Globally, the primary investment objective for international savers is

Abu Dhabi records 15.2% growth in hotel guests in February
(Gulf News - 28/03/2018)

The number of hotel guests staying in Abu Dhabi during February rose by 15.2 per cent compared to the same month in the previous year, the Department of Culture and Tourism (DCT) in Abu Dhabi said on Tuesday.<br/><br/> In total, 405,849 people stayed in

Saudis to repay contractors on state projects for increased expat fees
(Gulf News - 28/03/2018)

The Saudi cabinet announced on Tuesday it plans to reimburse contractors on government projects agreed before December 2016 for increased expat fees, according to a statement by Saudi Press Agency. <br/><br/> The cabinet said the finance ministry plans

Emirati-owned SMEs bagged Dh1.5b in contracts in 2017
(Gulf News - 28/03/2018)

The total value of contracts awarded to Emirati-owned small-to-medium-sized enterprises (SMEs) within the emirate since the Government Procurement Programme was begun in 2002 is Dh5 billion, Dubai SME has said.<br/><br/> The total value of contracts

CBO issues treasury bills worth OMR11m
(Times of Oman - 28/03/2018)

Oman’s central bank raised OMR11 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from 28 March until September 26,2018.<br/><br/> The average accepted price reached 99.185 for every OMR100,

Qatar’s trade surplus at QR14.1bn
(The Peninsula - 28/03/2018)

Qatar’s trade balance showed a surplus of nearly QR 14.1bn, an increase of about QR 2.7bn or 23.7 percent in February 2018, on Year-on-Year.<br/><br/> In February the total exports of goods (including exports of goods of domestic origin and re-exports)

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