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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Coronavirus: IMF urges Mideast sovereign funds to boost local economies

              April 28, 2020
              in Economy, Finance
              0
              Coronavirus: IMF urges Mideast sovereign funds to boost local economies

              Sovereign wealth funds in the Middle East should be used to boost growth, an International Monetary Fund (IMF) official said on Monday, as regional economies struggle with the coronavirus pandemic and the crippling impact of lower oil prices.

              Oil exporters in the Middle East and North Africa (MENA) region are expected to see a yearly decline in oil export receipts this year of $226 billion, according to the IMF.

              This is likely to weigh on their budgets, widening fiscal deficits and potentially limiting governments’ firepower to boost economic growth.

              For Gulf oil exporters this is problematic as government spending has been a key engine of economic transformation plans launched over the past few years to diversify their economies away from oil revenues.

              Jihad Azour, director of the IMF’s Middle East and Central Asia Department, said oil exporters needed to find new areas of growth amid the current downturn caused by plunging oil prices and the new coronavirus outbreak.

              “Sovereign wealth funds can play a role, regional institutions can play a role,” he said during an online conference.

              Oil prices have slumped this year as lockdowns across the world aimed at containing the pandemic have hammered demand.

              The sovereign wealth funds of oil-rich governments such as Abu Dhabi, Kuwait, Saudi Arabia, and Qatar are among the world’s largest, but they could see their assets decline by $296 billion by the end of this year, the Institute of International Finance has estimated.

              MENA oil exporters are likely to see a 4.2 percent real GDP contraction this year, Azour said, down from a previous projection of 2.1 percent growth.

              Twelve countries in the region – Bahrain, Iran, Morocco, Saudi Arabia, the United Arab Emirates, Egypt, Tunisia, Kuwait, Libya, Mauritania, Sudan, and Iraq – have provided $64 billion in combined fiscal support in response to the pandemic, corresponding to an average of 2.7 percent of GDP, the IMF said.

              Central banks in Bahrain, Qatar, the UAE, Morocco, Jordan, Saudi Arabia, and Tunisia, have provided $47 billion in combined additional liquidity support.

              Al Arabiya
              28/04/2020

              Tags: CoronavirusCovid-19economyfinanceIMF
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