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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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      Turkey eyes $5bn bilateral trade with Qatar

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

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

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

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      Iraq set to award new Faw Port deals

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

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      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

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        Acwa Power inks finance deals for 900MW Dubai solar park

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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

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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

            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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              Qatar eyes $50 billion yearly savings to boost reserves

              Gulf Times

              January 24, 2013
              in Economy
              0

              Qatar expects to save about $50bn each year until 2017 to take its international reserves — including sovereign wealth assets — to $485bn from the present estimated $215bn, according to International Monetary Fund estimates.

              The Qatari authorities indicated that they would continue to formulate budgets based on conservative oil prices, which, given the baseline assumptions for oil prices in the medium-term, would in IMF staff's estimation enable continued large savings of about $50bn each year until 2017 through the Qatar Investment Authority, the Breton Woods institution said in its Article IV consultation report.

              Surpluses are not excessive, and given the authorities' objectives of fully financing the budget from 2020 onwards, from non-hydrocarbon revenues, and building buffers against shocks, more saving in the medium-to-long term is warranted, mainly through a combination of containing current expenditures and prioritizing capital expenditure, the IMF said.

              Fiscal space is "contracting" but still consistent with inter-generational equity, according to IMF medium-term fiscal sustainability exercise, it said, suggesting that the government should continue to build robust buffers in the medium term.

              The government's fiscal stance is measured by the non-hydrocarbon deficit (excluding investment income) as a proportion of non-hydrocarbon gross domestic product (GDP). The stance is contractionary since the large increase in expenditures is more than compensated by increase in non-hydrocarbon revenues.

              However, the overall fiscal surplus is projected to remain high at about 8% of GDP. This is due to a "marked" increase in corporate taxes — as new companies start paying the taxes — high investment income, and hydrocarbon revenue, according to Qatar.

              "The projected non hydrocarbon revenues would finance 75% of projected expenditure in 2017-18," the IMF said, adding Qatar is confident of achieving its self imposed target by 2020.

              Finding that the government has now shifted its focus to economic diversification and growth in non-oil sectors through targeted infrastructure investments; the report said increased government capital expenditure for infrastructure investments and accommodative monetary conditions are expected to sustain non-hydrocarbon growth of 9% to 10% in the medium term.

              Any signs of "overheating" in the economy need to be managed through fiscal policy, in particular through restraining further increases in current expenditures to control aggregate demand, combined with liquidity management by the Qatar Central Bank (QCB) to absorb the structural liquidity surplus, and through macro-prudential measures to help smooth excessive credit growth and mitigate pressures from excessive leverage or risk-taking in specific sectors, it said.

              Qatar's adoption of a three-year budget framework in the 2012/13 budget is a key transformation enabling more efficient sectoral planning and better utilization of resources by ministries and government agencies, it said.

              The adoption of a medium-term budget framework (MTBF) would help to ensure that government spending is smooth and shielded from revenue volatility, according to IMF.
              Gulf Times
              23 January

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