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Saudi start-ups raise $3.110 million funding in 2nd quarter of 2018
(Saudi Gazette - 31/07/2018)

The technology start-ups incubated by the Badir Program, one of the King Abdul Aziz City for Science and Technology initiatives, has successfully raised around SR11.660 million($3.110 million) in the second quarter of 2018, up by 7.66% from the previous

VAT refund for tourist to open UAE doors for further growth
(Saudi Gazette - 31/07/2018)

United Arab Emirates is the most preferred tourist destination in the Middle East and to continue its positive momentum, tourists visiting the country will be entitled to claim back any Value Added Tax (VAT) payments they are charged.<br/><br/> “The UAE

Dubai’s hospitality projects hit $43bn in Q1, up 6.1pc
(Trade Arabia - 31/07/2018)

Dubai’s hospitality industry is poised for solid growth this year with the value of its major projects, including new hotels, resorts and hotel apartments, surging to $43 billion for the first quarter, up 6.1 per cent over last year, according to a

Qatar’s industrial sector PPI jumps in June 2018
(Gulf Times - 31/07/2018)

The Ministry of Development Planning and Statistics (MDPS) has released the monthly Producer Price Index (PPI) of the industrial sector for June 2018, with the base year 2013.<br/><br/> Producer Price Index covers goods relating to mining (weight:

UAE, Indonesia sign MoU to boost halal industry, promote trade exchange
(Gulf News - 31/07/2018)

The Emirates Authority for Standardisation and Metrology (ESMA) has signed a Memorandum of Understanding (MoU) with Indonesia’s National Standardisation Agency (BSN) and National Accreditation Committee (KAN) to officially recognise halal certificates

UAE, Middle East business confidence rebounds
(Gulf News - 31/07/2018)

The UAE and the Middle East as a whole are bucking global trends, with business confidence surging to its highest level since the second quarter of 2015.<br/><br/> That’s the finding of the latest Global Economic Conditions survey by the Association of

Arab League signs participation contract at EXPO 2020 Dubai
(Media Office Dubai - 31/07/2018)

The Arab League signed on Sunday a contract for the participation of the Cairo-based pan-Arab organisation in the EXPO 2020 Dubai, the first world Expo to take place in the Middle East, Africa and South Asia (MEASA) region, from 20th October, 2020 to

Gulf region’s e-commerce market to hit $20b
(The Gulf Today - 31/07/2018)

Based on industry reports, the Gulf region’s e-commerce market is expected to expand to $20 billion by the end of 2020, while the projected growth for the conventional retail market size is US$ 206 billion for the same period. <br/><br/> Jayaraman Nair,

Expo 2020 Dubai to boost China ties
(The Gulf Today - 31/07/2018)

Expo 2020 Dubai is expecting a significant boost in Chinese visitor and business presence after signing an agreement with the China-Arab International Cooperation Committee (CAICC) to promote the global destination in the most populous country.<br/><br/>

Wockhardt opens $40m manufacturing unit in Dubai
(Trade Arabia - 31/07/2018)

Wockhardt, a global pharmaceutical company, has expanded into the Middle East with the opening of a $40 million state-of-the-art facility for manufacturing new chemical entities (NCEs) in Jebel Ali Free Zone (Jafza) in Dubai, UAE.<br/><br/> Speaking at

Finance places revival of budget transformation as its ‘top priority’
(Arab Times - 31/07/2018)

Minister of Finance Nayef Al-Hajraf disclosed that the ministry has placed on top of its priorities the revival of budget transformation from bonds and clauses to programs and performance, especially as the current method of preparing budget constitutes

Saudi Real Estate Price Index plunges by 6.83% in 2Q 2018
(Saudi Gazette - 30/07/2018)

The General Authority for Statistics revealed yesterday the Real Estate Price Index data for the second quarter of the year 2018. The general index dropped by 6.83 percent in the second quarter of 2018 compared to 2.84 percent in the first quarter of

Dubai SME welcomes incubator designed to support entrepreneurs
(Saudi Gazette - 30/07/2018)

Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, marked the opening of ‘The Co-working Popup,’ the latest business incubator to come on stream in the emirate

Abu Dhabi expands company licence package to boost growth
(Gulf News - 30/07/2018)

The Abu Dhabi Department of Economic Development announced on Sunday that it has expanded Tajer Abu Dhabi licence package scheme by opening it up to all GCC nationals and UAE residents, in addition to increasing the number of commercial activities to

Qatar big banks’ combined net profit grows by 10.6% in H1
(The Peninsula - 30/07/2018)

Qatar’s top banks delivered a combined net profit of a solid QR12bn for the first half of 2018, up 10.6 percent compared to QR10.85bn reported during the same period a year ago. Among the largest eight banks, QNB led the pack by recording QR6.65bn net

Duqm Drydock plans to expand activities to contribute to national economy
(Oman Daily Observer - 30/07/2018)

Eng Said bin Hamoud al Maawali, CEO of Oman Drydock Company, said: “We are planning to increase the number of drydock activities in Duqm, one of the best drydocks in the region”.<br/><br/> Eng al Maawali said in an interview published today in Duqm

Suhar to host Oman’s first hazardous waste project
(Oman Daily Observer - 30/07/2018)

Be’ah, the Sultanate’s solid waste management authority, has selected Suez, the French-based international water and wastewater utility giant, to operate a hazardous waste treatment and disposal complex in Suhar — the first of its kind of Oman.<br/><br/>

DAFZA reduces free zone business set up fees by up to 65%
(Media Office Dubai - 30/07/2018)

Dubai Airport Freezone Authority (DAFZA) has reduced business setup cost by up to 65%, as part of its aim to increase DAFZA’s regional competitiveness and activate a number of key sectors by attracting foreign direct investment (FDI). Supporting Dubai’s

Dubai registers 29% rise in winning event bids
(The Gulf Today - 30/07/2018)

Dubai Business Events, DBE, the city’s official convention bureau, has reported strong results for the first half of 2018, with 125 successful bids to host business events, reflecting a 29 per cent increase OVER the same period last year.<br/><br/>

S&P affirms positive credit rating, outlook for Sharjah
(Trade Arabia - 30/07/2018)

The global credit ratings agency Standard & Poor’s (S&P) has recently reaffirmed the positive outlook of Sharjah’s economy, granting it ‘stable’ sovereign credit rating of BBB + / A-2in terms of local and foreign currencies respectively. <br/><br/> The

Saudi Arabia set to launch Makkah light rail network
(Trade Arabia - 30/07/2018)

Saudi railway authorities are all set to kick off the Makkah Light Rail Project operations next month following the successful testing of the system by the contractor China Railway Construction Corporation in June, said a report.<br/><br/> In 2009, CRCC

Work starts on MBR City waterfront residential units
(Trade Arabia - 30/07/2018)

Leading master-developer Meydan Group said work has started on the waterfront residences being developed under Phase Three of its 45-million-sq-ft flagship project, Mohammed Bin Rashid Al Maktoum City, District One, in Dubai.<br/><br/> Located in

Dubai: Preferred health destination in the GCC
(Saudi Gazette - 29/07/2018)

The strategically located Dubai offers a range of health solutions that meet the highest global standards and are supported by state-of-the-art technologies, Dr Layla Al Marzouqi, Director of Health Tourism Department at Dubai Health Authority (DHA) said

S&P DJI upgrades Saudi Arabia to ‘Emerging Market’
(Saudi Gazette - 29/07/2018)

The Saudi Stock Exchange (Tadawul) disclosed over the weekend that S&P Dow Jones Indices (S&P DJI), a leading provider of global equity indexes, upgraded the Kingdom of Saudi Arabia to “Emerging Market” from its previous “Standalone Market” country

DIFC boss in drive toward China’s ‘belt and road’
(Arab News - 29/07/2018)

As the world’s tallest building, the Burj Khalifa in Dubai, slowly took on the colors and symbols of the flag of the People’s Republic of China earlier this month in honor of the visit of President Xi Jinping to the UAE, there was some real business

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