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ECA, SCCA sign MoU in support of institutional arbitration
(Saudi Gazette - 28/06/2018)

The Economic Cities Authority (ECA) and the Saudi Center for Commercial Arbitration (SCCA) have signed a memorandum of understanding (MoU) in support of institutional arbitration in the economic cities and the Kingdom in general. The signing comes as

Naif Alrajhi Investment, NOREBA enter into partnership agreement
(Saudi Gazette - 28/06/2018)

NOREBA, Morocco and Naif Alrajhi Investment have signed a partnership agreement that aims to develop projects worth over a billion Moroccan dirhams.<br/><br/> The contract was signed by both Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s Managing

Abu Dhabi’s Masdar in Scottish wind farm world first
(Arab News - 28/06/2018)

The two large white boxes hardly look like the height of ground-breaking innovation. But they represent a first for the renewable energy industry in how to deliver clean energy steadily and profitably.<br/><br/> They are also the result of a remarkable

Qatar’s trade surplus surges 39.5% in May
(The Peninsula - 28/06/2018)

Qatar’s foreign merchandise trade balance, which is the difference between total exports and imports, in May 2018 showed a surplus of QR14.9bn that was QR4.2bn or 39.5 percent higher thab same month previous year.<br/><br/> The surplus has increased by

Bahrain says Gulf allies to boost financial support
(Gulf News - 28/06/2018)

Bahrain said Wednesday that its Gulf allies are to unveil a new support package to shore up its finances, which have been strained by seven years of persistent civil unrest.<br/><br/> The kingdom’s central bank intervened on Tuesday to defend the value

Oman to procure new solar, wind projects at yearly intervals
(Oman Daily Observer - 28/06/2018)

Driven by a commitment to ensuring a minimum 10 per cent share of power generation capacity from renewable energy (RE) resources, Oman Power and Water Procurement Company (OPWP) — the sole offtaker of electricity and water output — says it will procure

Economic licences to be issued through Tamm system
(The Gulf Today - 28/06/2018)

Abu Dhabi’s Department of Economic Development (ADDED), and Abu Dhabi’s Smart Solutions and Services Authority (ADSSSA), have implemented the “Tamm” system, which will shorten the process of obtaining an economic licence from eight steps to only one

UAE-Hong Kong trade surges to $10.87b
(The Gulf Today - 28/06/2018)

The total trade between the United Arab Emirates and Hong Kong increased to $10.87 billion in 2017 from $10.59 billion in 2016, according to Hong Kong government statistics.<br/><br/> The UAE is participating in the third Belt and Road (BnR) Summit,

Bahrain set for new economic stability programme
(Trade Arabia - 28/06/2018)

Bahrain, in collaboration with neighbours Saudi Arabia, the UAE, and Kuwait, is set to announce a new programme designed to strengthen Bahrain's fiscal stability, it was revealed yesterday. <br/><br/> Announcing this, Bahrain's Minister of Finance Shaikh

Omran, Majid Al Futtaim to develop $13bn Muscat project
(Trade Arabia - 28/06/2018)

Oman Tourism Development Company (Omran) and Majid Al Futtaim have entered a partnership to develop an OR5-billion ($13 billion) mixed-use community, the sultanate’s largest urban development project that will create a new downtown area for the Muscat

Saudi PPP law to spur investment surge
(Arab News - 27/06/2018)

Saudi Arabia’s much-anticipated plans to bring in a private-public partnership (PPP) law will “make a difference” to the investor appeal of the Kingdom, say lawyers in the country.<br/><br/> While Saudi Arabia has completed a number of infrastructure

Dubai World Trade Centre slashes licensing and incorporation fees by up to 70%
(The National - 27/06/2018)

Dubai World Trade Centre (DWTC), a commercial free zone in the emirate, is slashing licensing and incorporation fees for businesses by up to 70 per cent, joining the other commercial hubs in efforts to boost foreign investments inflows into

Commercial activities registered soar 369%
(Times of Oman - 27/06/2018)

The number of commercial activities registered in the various governorates of the Sultanate during the fourth quarter of 2017 exceeded 153,000, an increase of 369 per cent compared to 32,716 activities during the same period in 2016.<br/><br/> "This is

UAE and Hong Kong see $8.9 billion non-oil trade in 2017
(Gulf News - 27/06/2018)

The UAE and Hong Kong are enjoying burgeoning trade ties, as the value of the non-oil trade between the two countries accounted for $8.9 billion in 2017, according to Juma Al Keet, assistant undersecretary for foreign trade affairs at the UAE Ministry of

Innovation Factory initiative targets young Omani inventors
(Oman Daily Observer - 27/06/2018)

Innovation Factory (IF) recently concluded its skills development programme ‘The Core’ and ‘The Exploration’ that targeted young Omani inventors. The closing ceremony was held under the auspices of Dr Salim Sultan al Ruzaiqi, the Chief Executive Officer

SCCI discusses cooperation with South Korea delegation
(The Gulf Today - 27/06/2018)

The Sharjah Chamber of Commerce and Industry (SCCI), and a business delegation from South Korea representing the REI Holding Group discussed the means of cooperation and coordination and the investment opportunities available in Sharjah in vital economic

SMEs contribute 40% to Dubai’s GDP
(The Gulf Today - 27/06/2018)

It is estimated that Small and Medium Enterprises (SMEs) contribute 40 per cent to Dubai’s GDP and employ 42 per cent of the total workforce, said Fahad Al Gergawi, CEO of Dubai Investment Development Agency (Dubai FDI).<br/><br/> In a statement released

UAE cbank foreign assets hit $89bn in May
(Trade Arabia - 27/06/2018)

Foreign assets of the UAE Central Bank (CBUAE) rose to Dh326.6 billion ($88.9 billion) in May 2018 from Dh326.4 billion in April, according to latest statistics issued by the apex bank.<br/><br/> "Balances and deposits with banks abroad also surged from

Carrefour most intimate retail brand in UAE: study
(Trade Arabia - 27/06/2018)

Top intimate brands deliver superior results related to revenue and profit growth by creating deeper relationships with their consumers, said a new report from MBLM, a global provider of optimized marketing solutions.<br/><br/> The UAE’s retail industry

Emirates unit inks $40m deal for world’s largest vertical farm
(Trade Arabia - 27/06/2018)

Emirates Flight Catering (EKFC) and Crop One will co-invest $40 million to build the world’s largest vertical farming facility near Al Maktoum International Airport at Dubai World Central.<br/><br/> The project is a joint venture with US-based Crop One

Saudi cybersecurity landscape improving
(Saudi Gazette - 26/06/2018)

If reports of an improving cybersecurity landscape are any indication, it appears that Saudi Arabia’s digital transformation strategy is well on track. Newly released statistics from Trend Micro Incorporated, a global leader in cybersecurity solutions,

Middle East corporate spending set to rise in 2018, says Amex
(The National - 26/06/2018)

Corporate spending in the Middle East and North Africa (Mena) is expected to rise this year, with almost three quarters (74 per cent) of the region’s finance executives planning to “moderately” ramp up investment by at least 6 per cent, according to a

Qatar Chamber to hold seminars on ATA Carnet in July
(Gulf Times - 26/06/2018)

The Qatar Chamber has announced that it will organise next month a series of introductory seminars and workshops on how to use the ATA Carnet to raise awareness on the system, which will be implemented in the country from August 1.<br/><br/> The ATA

Oman share index ends lower
(Times of Oman - 26/06/2018)

The MSM30 index ended lower on Monday and closed at 4583.27 points, down by 0.22 per cent. MSM Sharia Index closed at 658.93 points, up 0.01 per cent. Bank Nizwa was the most active in terms of volume while Bank Muscat was the most active in terms of

Qatar banks top in GCC real estate lending
(The Peninsula - 26/06/2018)

Aggregate credit to the real estate sector disbursed by GCC banks in first quarter of 2018 grew by 3.2 percent on quarter-on-quarter (Q-o-Q) to reach $193.2bn. Qatari banks were the largest contributors in Q1-18, as $3.36bn of incremental credit was

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