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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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      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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        Investments in renewables in Egypt reach LE6 bn: Official

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

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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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          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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            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

              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

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                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

                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’s economy expected to be best performing in GCC            

              The Peninsula

              April 30, 2015
              in Economy
              0

              Qatar is expected to be by far the best-performing of the six Gulf Cooperation Council economies, as the world’s top natural gas exporter steps up a vast infrastructure building program, said a Reuters poll.

              Qatari GDP is projected to grow 6.7 percent this year and 6.4 percent next year. According to a Reuters poll, the outlook for most of the rich Gulf Arab economies has dimmed for this year and next as oil prices have remained relatively low, according to a Reuters poll published yesterday that showed economists cutting their forecasts.

              Heavy state spending and strong private consumption are cushioning the impact of a plunge in oil export revenues. Nevertheless, some construction and economic development projects are being suspended, cooling economic growth.

              Saudi Arabia’s gross domestic product is now projected to expand 2.6 percent in 2015, according to the median forecast in the poll of 18 analysts, instead of the 3.2 percent foreseen by the previous poll in January. Last year, GDP grew 3.6 percent.

              In 2016, Saudi GDP is expected to grow 3.0 percent instead of the previous forecast of 3.2 percent.

              A rebound in the past few weeks has taken Brent crude oil to four-month highs around $65 per barrel — still far below last June’s level of $115, but significantly above late March prices of about $55. This improvement may not yet be fully reflected in economic forecasts. But Monica Malik, chief economist at Abu Dhabi Commercial Bank, said growth forecasts for the region might still be lowered again later this year as cheap oil slowed more development projects. “If there is no greater recovery of the oil price, there may be more downside risk in the medium term,” she said.

              Although the Gulf economies are managing to continue growing in an era of cheap oil, it is at a heavy cost to their state finances. Five of the six GCC states are projected to record budget deficits this year and next.

              The forecast for Saudi Arabia’s fiscal deficit this year has been raised to a massive 14.8 percent of GDP from 11.1 percent predicted in the last poll, while next year’s deficit is expected to be 10.6 percent of GDP. The UAE is forecast to run a deficit of 4.1 percent this year and Kuwait of 5.0 percent. Only Qatar is seen staying in the black, with a surplus of 1.8 percent.

              Saudi Arabia has already started running down its financial reserves stored abroad to cover its budget deficit. Its reserves are so huge that it could continue to do this for years; the UAE and Kuwait are in similarly fortunate positions. But the financial reserves of Oman, projected to run a fiscal deficit of 11.7 percent of GDP this year, and Bahrain, with a forecast deficit of 12.0 percent, are much smaller. They may be forced into painful spending cuts in coming years if oil prices stay below $70 a barrel. Reuters
              The Peninsula
              30 April

               
               
               
               
               
               
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