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UAE VAT boosts revenue base and could raise 1.7% of GDP:Moody’s
(The National - 20/09/2018)

The introduction of VAT in the UAE may raise up to 1.7 per cent of the country’s gross domestic product, the rating agency Moody’s said. “The implementation of VAT in the UAE marks a positive step towards revenue diversification,” said Thaddeus Best, a

Exports to drive Qatar current account surplus to 9% of GDP in ’18
(Gulf Times - 20/09/2018)

Buoyant exports will drive Qatar’s current account surplus to nearly 9% of the country’s GDP in 2018; an increase of around 5%, a new QNB report has shown.<br/><br/> With oil prices expected to average $72 for a barrel and LNG demand growth in Asia

Sharjah Investors Services Centre established
(Gulf News - 20/09/2018)

The Sharjah Investment and Development Authority (Shurooq) and Injazat Services announced the establishment of the Sharjah Investors Services Centre.<br/><br/> The centre will provide services to investors looking to set up businesses in Sharjah, and

GCC economies begin recovery after a slow start
(Gulf News - 20/09/2018)

Higher crude production and recovering oil prices will aid growth in an otherwise sluggish oil sector and strengthen fiscal and external balances for the GCC economies, according to ICAEW’s latest Economic Insight report for the third quarter, produced

Industrial Production Index rises in July
(The Peninsula - 20/09/2018)

Qatar’s Industrial Production index (IPI) rose to 107.7 points for the month of July, up by 2.2 percent compared to the previous month , and increased by 1.4 percent from a year ago.<br/><br/> The index of Mining sector showed an increase by 2.4 percent

Mobile feed project to boost job openings
(Oman Daily Observer - 20/09/2018)

Driven by the idea of creating new jobs and develop entrepreneurial skills among the youths, the animal feed product major National Feed joined hands with the Al Rafd and Riyada and came out with the idea of mobile feed project. Al Rafd Fund and Riyadah

Fertiliser industry key to addressing food security
(Oman Daily Observer - 20/09/2018)

The fertiliser industry has a crucial role to play in addressing global food security challenges, as the world’s population continues to expand rapidly, driving demand for nutrition and resource availability, said speakers during the opening of the 9th

Expo 2020 Dubai team reviews plans
(The Gulf Today - 20/09/2018)

Members of the Expo 2020 Dubai Higher Committee, under the chairmanship of Sheikh Ahmed bin Saeed Al Maktoum, Expo 2020 Higher Committee Chairman, President of the Department of Civil Aviation and Chairman and Chief Executive of Emirates Airline and

Top Japanese industrial group opens office in Dubai
(Trade Arabia - 20/09/2018)

Leading Japanese industrial company Asahi Yukizai Corporation has set up its regional base in Dubai Airport Freezone (Dafza).<br/><br/> A major player in the manufacture of industrial resins and plastic valves, Asahi Yukizai Corporation said the new

Gulftainer inks 50-year US port concession agreement
(Trade Arabia - 20/09/2018)

Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the UAE, finalised a 50-year concession with the State of Delaware in the US to operate and develop the Port of Wilmington, significantly expanding

Expat remittances from UAE hit $24bn in H1
(Trade Arabia - 20/09/2018)

Expats remittances from the UAE amounted to Dh88 billion ($24 billion) during the first half (H1) of 2018, a growth of 13.1 per cent from Dh77.8 billion ($24 billion) during the same period last year, a media report said.<br/><br/> Money sent by expats

New fuel oil regulations for shipping industry to create winners and losers
(Saudi Gazette - 19/09/2018)

The decision this year of the International Maritime Organization (IMO), a specialized agency of the United Nations, to introduce new rules aimed at reducing the cap on the sulfur content of marine fuel has an impact on the Gulf’s oil dynamics, the Arab

Pakistan PM Khan expected to boost aid and trade from visit to Kingdom
(Arab News - 19/09/2018)

Faced with a financial crisis at home, Pakistan Prime Minister Imran Khan’s first visit to Saudi Arabia could provide a much needed boost to the country’s political and economic confidence, experts said on Tuesday.<br/><br/> The trip, which began on

CBO issues treasury bills worth OMR30.40mn
(Times of Oman - 19/09/2018)

Oman’s central bank raised OMR30.40 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from Wednesday until October 17, 2018.<br/><br/> The average accepted price reached 99.836 for every

Abu Dhabi details Dh50b business programme
(Gulf News - 19/09/2018)

The Abu Dhabi Executive Council’s Executive Committee has revealed the details of the business and investment encouragement tenet as part of the Abu Dhabi Government Accelerators Programme “Ghadan 21”.<br/><br/> The Dh50 billion three-year development

UAE leads in ICT Global Competitiveness Index
(The Gulf Today - 19/09/2018)

The United Arab Emirates has achieved a new accomplishment in ICT global competitiveness by achieving advanced ranks in the Global Competitiveness Index, according to the results published recently by the International Telecommunication Union

Government spending reaches Dhs10.44b in Q1
(The Gulf Today - 19/09/2018)

The value of spending of federal authorities increased to around Dhs10.44 billion during the first quarter of 2018, an increase of 17 per cent compared to Dhs8.92 billion during the same period in 2017, highlighting the country’s continuing overall

UAE, Algeria discuss cooperation
(The Gulf Today - 19/09/2018)

The Ministerial Meeting of the 14th session of the Joint Committee between the UAE and Algeria took place in the Algerian capital, Algiers. The meeting was chaired by Sultan Bin Saeed Al Mansouri, Minister of Economy, and Abdulqader Al Mussahel, Minister

Over $3.5bn spend to boost Mena film sector
(Trade Arabia - 19/09/2018)

More than $3.54 billion investment in cinema screens across the Gulf is expected to help the region’s cinema industry expand manifold, said organisers of the upcoming inaugural Mena Cinema Forum in Dubai, UAE.<br/><br/> As many as 45 specialists will

Dubai non-oil foreign trade tops $175bn in H1
(Trade Arabia - 19/09/2018)

Dubai’s non-oil foreign trade recorded Dh645 billion ($175.5 billion) in the first half of 2018, an increase of Dh5 billion from 2017 figures, a media report said.<br/><br/> Dubai’s re-exports registered a Dh24 billion increase and grew 14 per cent to

Alstom wins $848m Riyadh Metro network contract
(Trade Arabia - 19/09/2018)

Alstom, as a part of Flow consortium, has been awarded a contract worth more than €730 million ($848 million) from Arriyadh Development Authority (ADA) to provide operation and maintenance (O&M) services for lines 3, 4, 5 and 6 of the Riyadh Metro

Kuwaiti, Tunisian officials discuss development of trade exchanges
(Arab Times - 19/09/2018)

Kuwaiti and Tunisian officials discussed in Tunis Tuesday means of developing trade exchanges and economic relations, in addition to facilitating movement of goods between the two countries.<br/><br/> The two sides were meeting within the trade technical

Saudi banks step up drive against fraud
(Saudi Gazette - 18/09/2018)

Saudi banks launched the 10th edition of the anti-fraud awareness campaign tilted “Do not disclose it”. This season’s campaign slogan is # Drag them before they pull you.<br/><br/> The media and banking awareness committee revealed that the first phase

Saudi Arabia’s central bank governor expects SR71bn Q2 surplus
(Arab News - 18/09/2018)

Saudi Arabia’s central bank governor said on Monday that the Kingdom’s current account is expected to record a surplus in the second quarter of this year worth SR71 billion ($19billion).<br/><br/> Dr. Ahmed Al-Kholifey, who heads the Saudi Arabian

Abu Dhabi courts fintech firms and investors to grow digital economy
(The National - 18/09/2018)

Abu Dhabi is luring a rising number of financial technology firms from the Middle East and beyond to its shores through new funding, mentorship and regulatory schemes, as part of its strategy to grow the UAE's digital economy.<br/><br/> On Monday, the

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