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GCC Islamic insurance sector to stay profitable in 2018: S&P
(Saudi Gazette - 23/07/2018)

In the Gulf Corporation Council (GCC), net income of listed companies in the Islamic (takaful and Islamic cooperative tawuni) insurance sector nearly halved in 2017 to $375 million, from $674 million in 2016, S&P Global Ratings said in its report titled

Abu Dhabi DED is implementing Dh50bn stimulus linked initiatives
(The National - 23/07/2018)

The Abu Dhabi Department of Economic Development is implementing seven of the 10 strategic initiatives linked to a three-year Dh50 billion stimulus package for the emirate unveiled in June, its head told The National on Sunday.<br/><br/> The package,

Islamic Insurance sector to stay profitable in ’18
(The Peninsula - 23/07/2018)

The net income of listed companies in the GCC Islamic insurance sector has nearly halved in 2017 to $375m, from $674m in 2016. The decline in 2017 net income was mainly driven by weaker results in the Saudi Arabian insurance sector and follows an

TRA to commission telecom market review
(Oman Daily Observer - 23/07/2018)

The Telecommunications Regulatory Authority (TRA) of the Sultanate is preparing a launch a key study aimed at, among other things, dampening the potential for market abuse by the sector’s dominant service providers. The study, in addition, will seek to

Dubai Summer Surprises gives fresh impetus to business
(Media Office Dubai - 23/07/2018)

Organised by the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (Dubai Tourism), this year’s DSS, running from 22 June to 4 August, features a packed line-up of sales and super deals from

Top UAE SMEs show resilience in growth
(The Gulf Today - 23/07/2018)

The finalists of the 2018 Gulf Capital SME Awards report a two-year compounded growth rate of 100%, underscoring the resilience of small businesses in the UAE amidst challenging economic times. <br/><br/> A total of 97 finalists have been shortlisted

Dubai eyes stronger ties with Egypt
(The Gulf Today - 23/07/2018)

Dubai FDI, the investment development agency of Dubai Economy Department (DED), has moved to further strengthen Dubai’s business and investment ties with Egypt, following its meeting with high-level Egyptian delegates from the General Authority for

RAK records double-digit visitor growth in H1
(Trade Arabia - 23/07/2018)

Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced a 14 per cent increase in international visitors during the first six months of the year.<br/><br/> This is ahead of the UNWTO forecast of 4 per cent tourism growth in the Middle East in

China fund acquires 24pc stake in Dubai solar plant
(Trade Arabia - 23/07/2018)

China's Silk Road Fund will acquire a 24.01 per cent equity interest in the 700MW Dewa Concentrated Solar Power (CSP) project in the UAE, Acwa Power, a leading developer and operator of power generation plants and an investor in the project,

Private sector’s CSR contribute to Kuwait’s overall development
(Arab Times - 23/07/2018)

Social responsibility projects (CSR) carried out by the private sector are contributing to the overall development of Kuwait and its governance system. By allocating a percentage of its profits to aid social campaigns, the private sector is not only

UAE’s $8b tech industry woos Chinese business
(Saudi Gazette - 22/07/2018)

With a thriving technology sector, deepening bilateral ties with China, and recent announcements by the UAE Cabinet to allow 100 percent foreign ownership in certain onshore industries, Dubai is an increasingly attractive trade and investment destination

Saudis reap benefit from US-China trade war
(The National - 22/07/2018)

Saudi Aramco is winning thanks to U.S. President Donald Trump’s trade war with China.<br/> Sales of liquefied petroleum gas by the state-run producer to China -- one of its biggest Asian customers -- this year have already reached 90 per cent of all

Deposits in Oman's banks down slightly
(Times of Oman - 22/07/2018)

Aggregate deposits held in conventional banks stood at OMR18.9 billion in April 2018, down by 0.8 per cent from OMR19.1 billion a year ago.<br/><br/> Government deposits in conventional banks declined by 1.8 per cent to OMR5.1 billion, while deposits

S&P confirms Sharjah ‘BBB+/A-2’ ratings
(Gulf News - 22/07/2018)

S&P Global Ratings affirmed its “BBB+/A-2” long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah on Friday. The outlook is stable.<br/><br/> S&P said the stable outlook reflects its expectation that Sharjah’s

Oman government revenue grows by 23.2%
(Gulf News - 22/07/2018)

The Oman government’s revenue rose by 23.2 per cent to 4,091.9 million riyals (Dh39.08 billion) for the first five months of 2018, over the same period of last year, thanks to a major recovery in oil prices.<br/><br/> As a result of a growth in oil

Oman’s first SAP Next Gen-Lab opens at GUtech
(Oman Daily Observer - 22/07/2018)

To foster links between academia and industry, the first of its kind SAP Next-Gen-Lab in Oman was inaugurated at the German University of Technology in Oman (GUtech) in cooperation with SAP, one of the leading enterprise software corporations. The

Roadmap for power trading with GCC states by Dec
(Oman Daily Observer - 22/07/2018)

An action plan for enabling electricity trading between Oman and fellow members of the Gulf Cooperation Council (GCC) — a first for the Sultanate’s power sector — is expected to be in place before the end of this year, according to the Oman Power and

UAE-China non-oil trade to hit $58b
(The Gulf Today - 22/07/2018)

UAE and China non-oil trade exchange is expected to rise to $58 billion by the end of 2018 from $53.3 billion in 2017, according to Sultan Bin Saeed Al Mansouri, Minister of Economy.<br/><br/> ‘’Figures on two way trade speak volumes and are promising.

Abu Dhabi Investment Office signs MoU
(The Gulf Today - 22/07/2018)

The Abu Dhabi Investment Office on Saturday announced the signing of a Memorandum of Understanding with the Office of the Chinese Business Council, at a meeting that was attended by Saif Mohamed Al Hajeri, Chairman of Abu Dhabi Department of Economic

Abu Dhabi signs pact to bolster China trade
(Trade Arabia - 22/07/2018)

The Abu Dhabi Investment Office has signed an agreement with the he Chinese Business Council to bolster inter-institutional cooperation and exchanges and provide for further trade and investment opportunities for businesses, a media report

UAE, China sign deal on Silk Road initiative
(Trade Arabia - 22/07/2018)

The UAE government has signed a memorandum of understanding (MoU) with China concerning joint co-operation on the Silk Road Initiative and the 21st Century Maritime Silk Road Initiative, said a report.<br/><br/> The deal was inked by Dr Sultan bin Ahmad

S&P affirms Kuwait sovereign rating
(Arab Times - 22/07/2018)

Standard and Poor’s affirmed Friday Kuwait’s (AA/A-1+) long and short-term foreign and local currency sovereign credit ratings, with stable economic outlook.<br/><br/> The credit rating agency, in a statement on its website, said it expected Kuwait to

Affordable housing stimulates Riyadh’s real estate market
(Saudi Gazette - 19/07/2018)

Although market conditions in Riyadh remain relatively unchanged this quarter, the governments’ continued focus on providing more affordable housing to drive home ownership amongst Saudi nationals will in turn boost the capital’s overall real estate

UAE clarifies rules on payment of VAT on commercial real estate
(The National - 19/07/2018)

The 5 per cent VAT on commercial real estate must be paid prior to the completion of an asset sale, not afterwards, the UAE’s Federal Tax Authority (FTA) said on Wednesday.<br/><br/> In a statement clarifying the rules around payment of the levy on

PEIE highlights investment opportunities
(Times of Oman - 19/07/2018)

A delegation of Indian businessmen visited the Public Establishment for Industrial Estates (PEIE) on Wednesday in a bid to familiarise themselves with the investment climate in the Sultanate.<br/><br/> A meeting with the delegation was organised in