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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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        Investments in renewables in Egypt reach LE6 bn: Official

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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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          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

            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

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                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

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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

                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 GDP growth rate seen at 5% this year, 4.9% in 2014

              Gulf Times

              June 24, 2013
              in Economy
              0

              Bank of America Merrill Lynch has maintained Qatar’s GDP growth rate at 5% this year and 4.9% in 2014 even as BOAML forecasts a rise in CPI inflation to 2% this year and 2.5% in 2014.

              BOAML’s forecast is in line with an earlier International Monetary Fund (IMF) projection of 5.2% growth in Qatar’s economy this year mainly on the back of robust non-hydrocarbon growth.

              The IMF had also seen a “strong economic outlook” for Qatar in the medium term and the report indicated the country’s nominal GDP would exceed $191bn this year compared with $184.7bn in 2012.

              But QNB has said Qatar’s real GDP growth was expected to reach 6.5% this year and 6.8% in 2014 on the back of continued economic diversification and non-oil sector performance.

              The share of the non-oil and gas sector in the overall economy increased to 42.2% in 2012 from 40.7% in 2011.
              In what is seen as an indication of “higher growth contribution” from the non-oil sector, Qatar’s money supply surged to QR419bn in March this year.

              This was driven by private sector deposits, a QNB study shows. In the first quarter of this year, Qatar recorded the highest money supply growth rate (37.4%) in the region, QNB said.

              An ongoing focus on the roll out of projects in the run-up to the 2022 World Cup and growing momentum in the manufacturing sector will continue to drive diversification and growth of the non-oil sector.

              Indications of rising inflation in Qatar have been confirmed by Bank of America Merrill Lynch in its report yesterday. BOAML sees inflation that is determined by the consumer price index (CPI), averaging 2% this year and 2.5% in 2014.

              BOAML, however, did not cite the reasons for the projected CPI inflation spike in Qatar. Historically, rising rents, associated with population growth, were the main driver for inflation in Qatar.

              QNB said overall inflation increased 3.6% year-on-year and 0.4% month-on-month to 2.4% in March this year.
              Qatar’s inflation rate hit a record 15.2% in 2008, partly because of a building boom for the 2006 Doha Asian Games, logistical problems and bottlenecks, including difficulties in bringing enough building materials into the country.

              With Qatar planning to spend about $140bn to build stadiums, roads, railways, airport, seaport and other infrastructure before it hosts the 2022 soccer World Cup, another phase of building boom is on the anvil.

              Since the housing component has the largest weighting in the inflation basket (32.2%), escalating rents are sure to drive inflation in Qatar. In the past, when inflation surged and touched double digits, the government took very strong measures to contain it.

              They included putting a ceiling on the annual rental increases and starting new low-cost residential projects.
              Another effective tool against inflation is price regulation. Last year, the government said it would use regulatory powers to prevent traders from imposing “unjustified” price hikes on consumers.

              The headline inflation remained low in Qatar in 2010 and 2011 mainly because of depressed rents.

              With infrastructure-related construction activities picking up and as the demand-supply situation in the real estate market converges in view of the expatriate population increase, inflation will gradually increase from 3% in 2013 to 5% by 2016, the IMF had said.
              Gulf Times
              24 June

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