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    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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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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    MAFWR, Port of Duqm sign MoU

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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      Iraq set to award new Faw Port deals

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      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

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

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      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

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      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

        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

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          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

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          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

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          Staycations to stimulate Qatar’s hospitality sector

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

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          Ministry signs agreement to support Oman’s honey industry

          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

          MAFWR, Port of Duqm sign MoU

          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

            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

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              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

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

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

                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

                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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              Domestic liquidity in GCC grows 5.2% to $778 billion

              Arab News

              October 21, 2012
              in Finance
              0

              GCC countries continue to have ample domestic liquidity, according to QNB Group analysis. Higher energy prices and increased hydrocarbons production have driven growth in credit, resulting in an expansion of the money supply. The main driver of money supply growth is credit expansion. However, there is considerable variation in liquidity growth across the GCC.

              Quasi money including foreign currency accounts and longer term deposits, increased by 2.0 percent to $ 413 billion

              The overall domestic liquidity in the GCC region, as measured through the broad money supply (M2), grew by 5.2 percent in the year up to August 2012 to reach $ 778 billion. The components of broad money supply are M1 and quasi-money. M1, which includes physical currency in circulation and current accounts, rose by 8.8 percent to $ 364 billion. Quasi money, which includes foreign currency accounts and longer term deposits, increased by 2.0 percent to $ 413 billion.

              Qatar recorded the highest broad money supply growth in the region in 2011 and during the first eight months of 2012. Qatar's M2 grew by 17.1 percent in 2011 and 19.1 percent in the year until August 2012, to reach $ 101 billion. This is because the trends in hydrocarbon wealth creation and government spending were particularly strong in Qatar, driving rapid credit growth. As a result, quasi-money went up substantially.

              In response to this strong growth in money supply, Qatar Central Bank started issuing treasury bills in May 2011 to lap up the excess domestic liquidity and also to help build a Qatari riyal yield curve

              Money supply in Saudi Arabia, which is the largest in the GCC region, showed a more mild growth of 4.7 percent in the year up to August 2012. The gains came mainly from an increase in the currency in circulation and demand deposits. Saudi Arabia has a different money supply make up to other GCC countries, with a predominance of shorter-term deposits. As a result, M1 took a 78 percent share of the broad money supply in Saudi Arabia as at August 2012.

              Money supply growth in the UAE has recovered; however, it is affected by the significant investments in the real estate sector and the pick-up in real estate activity in recent months, which has led to increased credit to the sector.

              Driving the overall money supply growth in the GCC has been the expansion in credit, which increased for the GCC region by 7.8 percent

              Driving the overall money supply growth in the GCC has been the expansion in credit, which increased for the GCC region by 7.8 percent for the year up to August 2012 to reach $ 833 billion. Qatar had the most rapid credit growth in the region, with loans extended by banks going up by 18.5 percent in the year up to August 2012 to $ 131.4 billion. The loans disbursed by banks in Saudi Arabia went up by 12.2 percent to reach $ 256.2 billion as at August 2012. In the UAE, which has the largest loan book in the region, overall lending moved up by 1.8 percent to $ 296.9 billion as at August 2012.

              GCC countries have been successful in obtaining credit lines though international project financing syndications

              With huge project financing needs coming up over the next decade, GCC countries have been successful in obtaining credit lines though international project financing syndications. The corporate debt capital markets have also emerged as a good funding option. During the year up to August 2012, debt issuance in the MENA region reached a record level of $ 28.2 billion, according to data from Dealogic. The GCC countries are considering further developing their own domestic debt capital markets and there is also potential for local banks to collaborate to a greater extent by offering more syndicated loans, according to QNB Group.
              Arab News
              21 October

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