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Middle Eastern carriers post fastest freight growth in July
(Saudi Gazette - 30/08/2018)

The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight ton kilometers (FTKs), rose 2.1% in July 2018, compared to the same period the year before. This was the slowest pace

Saudi Arabia’s PIF names top business chiefs for Future Investment Initiative
(Arab News - 30/08/2018)

Saudi Arabia’s Public Investment Fund (PIF) has named a top team of global business chiefs that will help steer the agenda of the Kingdom’s Future Investment Initiative (FII).<br/><br/> The event debuted in the Kingdom last year and reflected the

UAE banking association says industry is robust and resilient
(Gulf News - 30/08/2018)

The UAE’s banking sector remained strong and robust in 2017 with an uptick in growth on the back of strong economic momentum in the country, according to the 2017 annual report of the UAE Banks Federation (UBF), a professional representative body made up

Qatari Islamic banks grow despite Gulf crisis: IFSB data
(The Peninsula - 30/08/2018)

Assets and revenues at Qatar's Islamic banks have grown over the past year despite the Gulf crisis, data showed. Qatar has been under blockade since June last year, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with the world's

Qatar banks’ private sector deposits rise to QR350.8bn
(The Peninsula - 30/08/2018)

The total domestic private sector deposit at Qatar banks has increased by about QR7.9bn to QR350.8bn by the end of July 2018. The combined domestic loans and credit facilities provided by banks to the local private sector rose by QR4bn to QR503.4bn. Of

CBB Monthly Issue of Treasury Bills fully subscribed by 100%
(Biz Bahrain - 30/08/2018)

Central Bank of Bahrain (CBB) announces that the BD 35 million monthly issue of Government Treasury Bills has been fully subscribed by 100%. The bills, carrying a maturity of 182 days, are issued by the CBB, on behalf of the Kingdom of Bahrain.<br/><br/>

NBC event highlights success journey of two Omani entrepreneurs
(Oman Daily Observer - 30/08/2018)

The National Business Centre (NBC), which pertains to the Public Establishment for Industrial Estates (PEIE), organised yesterday (Wednesday) Reyooq event entitled ‘Successes and Obstacles’ at Basta Majan Café. The event featured the entrepreneurship

Measures to ease banking liquidity pay off: CBO
(Oman Daily Observer - 30/08/2018)

A series of steps initiated by the Central Bank of Oman (CBO) over the past year have helped give more room to commercial banks and financial institutions to extend credit to Omani businesses and organisations — measures deemed essential to stimulating

UAE banking sector records robust growth
(The Gulf Today - 30/08/2018)

The UAE Banks Federation, UBF, has officially released its annual report for the year 2017, shedding light on major developments, and trends in the UAE banking sector as well as local and regional economies.<br/><br/> The report also highlights the UBF’s

Emirati women ‘hold shares worth over $5.4bn’
(Trade Arabia - 30/08/2018)

The number of Emirati female investors reached 220,000 by the end of the first half of 2018 and the number of shares they hold is about 3.5 billion with a market value of about Dh20 billion ($5.44 billion), a media report said.<br/><br/> Whereas their

UAE launches $100m power station in Aden
(Trade Arabia - 30/08/2018)

The United Arab Emirates has established a 120-megawatt power station in Aden at a total cost of $100 million to meet locals' energy needs, a media report said.<br/><br/> The station, powered by one of the world's largest engine, is located in Al Haswa

Kuwait Banking Association’ instructs local banks to stop collecting SMS fees
(Arab Times - 30/08/2018)

According to verbal instructions from the Central Bank of Kuwait (CBK), Kuwait Banking Association has informed all local banks and branches of foreign banks to stop collecting fees for SMS service even before Sept 16, 2018 – the date specified for

KSA’s $5.7bn beauty market a major draw card for global brands
(Saudi Gazette - 29/08/2018)

The inaugural edition of Beautyworld Saudi Arabia is approaching full capacity, with global suppliers of beauty products and wellbeing eagerly snapping up the exhibition’s last available slots ahead of its October 2018 debut in Jeddah.<br/><br/> More

Saudi Arabia’s inflation quickens on rising food costs
(Arab News - 29/08/2018)

The rising cost of food and drink in Saudi Arabia helped push up the Kingdom’s inflation rate last month, though it still remained below its recent peak of 3 percent in January.<br/><br/> Consumer prices rose by 2.2 percent year-on-year in July compared

Oman's ITA provides specialised consultancy for start-ups
(Times of Oman - 29/08/2018)

The Information Technology Authority (ITA) represented by Sas Center for Entrepreneurship is providing free consultancy services on September 5. Specialised consultancy in the financial and business model canvas will be provided for the start-ups

CBO issues treasury bills worth OMR41 milliom
(Times of Oman - 29/08/2018)

Oman’s central bank raised OMR41 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 91 days, from August 29, 2018 until November 28, 2018.<br/><br/> The average accepted price reached 99.477 for every

Qatar, South Africa trade rises by 70% post-siege: Envoy
(The Peninsula - 29/08/2018)

The trade volume between Qatar and South Africa has increased by 70 percent during the post-blockade period as a result of emerging market opportunities and strong bilateral relations, said Ambassador of South Africa to Qatar, Faizel Moosa.<br/><br/> “A

Regulations for Oman’s postal sector being readied
(Oman Daily Observer - 29/08/2018)

The Sultanate’s Telecommunications Regulatory Authority (TRA) says it is finalising regulatory guidelines for the postal services sector, which has been witnessing strong growth in recent years, fuelled by, among other factors, an upsurge in ecommerce

Emirati women account for 39% of ADFD workforce
(The Gulf Today - 29/08/2018)

To mark the fourth annual Emirati Women’s Day on Tuesday, Abu Dhabi Fund for Development, ADFD, the leading national entity for development aid, reported that Emirati women comprise 39 per cent of its current workforce.<br/><br/> Mohammed Saif Al

$5.3bn projects showcased at Bahrain real estate expo
(Trade Arabia - 29/08/2018)

Real estate projects worth more than BD2 billion ($5.3 billion) are being showcased by leading Bahraini and Gulf real estate development companies at the Bahrain Property Development Exhibition (BaPDEX 2018), which opened yesterday (August 27).<br/><br/>

IKEA Bahrain 'will have products to meet needs of market'
(Trade Arabia - 29/08/2018)

IKEA Bahrain store, which is getting ready to open soon in Salmabad, will have products to match the needs of the local market, says a senior official. “As people move through our ‘Inspiration rooms’ they will be able to touch and feel products that were

Dafza achieves 8pc growth in revenues
(Trade Arabia - 29/08/2018)

Dubai Airport Freezone Authority (Dafza) has announced strong business results for the first half of 2018, showing an 11 per cent growth in the EBID in comparison with the same period of 2017, and a growth of new rental revenues by 27 per cent.<br/><br/>

Kuwait consumer spending eases to 6.5pc in July
(Trade Arabia - 29/08/2018)

Softer demand for durable goods and services caused Kuwait’s consumer spending index to ease to 6.5 per cent year-on-year (y/y) in July, despite recording a strong rise in month-on-month terms, said the National Bank of Kuwait (NBK) in its latest

GCC prominent among 22 sovereigns with liquid assets over 25% of GDP
(Saudi Gazette - 28/08/2018)

The Gulf Cooperation Council (GCC) countries are among the 22 sovereigns with liquid assets exceeding 25% of GDP, and three of them have liquid assets worth more than 100% of GDP, S&P Global Ratings said in its report titled “Government Liquid Assets And

Qatar’s trade surplus jumps 43% year-on-year in July: MDPS
(Gulf News - 28/08/2018)

Qatar has recorded a trade surplus of nearly 43% year-on-year in July, figures released by the Ministry of Development Planning and Statistics (MDPS) have shown. <br/><br/> The foreign merchandise trade balance, or trade surplus, which represents the

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