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    Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

    Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

    How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

    How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

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    Egypt, Poland Explore Agri-Tech and Investment Opportunities

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    Egypt Enhances Water Management Using Satellite Technology

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    Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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    GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

    Green Certifications: A Strategic Imperative for GCC Food Producers

    Green Certifications: A Strategic Imperative for GCC Food Producers

    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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      • Economy
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      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

      Iraq’s Development Road: A New Contender in Global Trade Routes?

      Iraq’s Development Road: A New Contender in Global Trade Routes?

      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

      Consumer Electronics Boom Continues Across GCC, Middle East

      Consumer Electronics Boom Continues Across GCC, Middle East

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        Oman Launches $103 Million Tender for Salalah’s Spray Boulevard Project

        Oman Launches $103 Million Tender for Salalah’s Spray Boulevard Project

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        Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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        Iraq Launches $400–600M Tender for Baghdad Airport Development

        Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

        Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

        Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

        Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

        Qatar’s Construction Sector Poised for Transformation, Says New Report

        Qatar’s Construction Sector Poised for Transformation, Says New Report

        Jeddah Tower Set to Claim Title of World’s Tallest Building

        Jeddah Tower Set to Claim Title of World’s Tallest Building

        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

        Iraq to Establish Four New Desalination Plants in Basra

        Iraq to Establish Four New Desalination Plants in Basra

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          Iraq Accelerates Solar Energy Expansion in Public Sector

          Iraq Accelerates Solar Energy Expansion in Public Sector

          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

          Oman Seeks Bids for Two Major Substation Projects

          Oman Seeks Bids for Two Major Substation Projects

          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Qatar 2025: From Energy Powerhouse to Innovation Leader

          Iraq Aims for 12 GW of Renewable Energy by 2030

          Iraq Aims for 12 GW of Renewable Energy by 2030

          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

          Iraq and Power China International Sign Deal to Strengthen National Power Grid

          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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            Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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            Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

            Qatar and the UK Explore Deeper Cooperation in Healthcare

            Qatar and the UK Explore Deeper Cooperation in Healthcare

            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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              Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

              Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

              Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

              Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

              Oman Awards Over $600 Million in Contracts for Tourism Expansion

              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Qatar Expands Role as a Leading Global Tourism Destination

              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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              Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                Africa’s Coated Printing and Writing Paper Market Set for Steady Expansion

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                Middle East Printing Inks Market Outlook 2025–2033

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                Technological and Sustainable Innovation Drives Growth in Digital Printing

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                Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                Packaging Becomes Lifeline for Struggling Print Industry

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                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                  UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                  Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                  Consumer Electronics Boom Continues Across GCC, Middle East

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                  Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                  The Top 10 Emerging Technologies for 2025

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                  Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                  GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                    GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

                    GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

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                    Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                    Iraq’s Development Road: A New Contender in Global Trade Routes?

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                    Iraq Launches $400–600M Tender for Baghdad Airport Development

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                    Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                    Iraq to Establish Four New Desalination Plants in Basra

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                    Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                    Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                    Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

                      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

                      How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

                      How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

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                      Egypt, Poland Explore Agri-Tech and Investment Opportunities

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                      Egypt Enhances Water Management Using Satellite Technology

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                      Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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                      GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

                      Green Certifications: A Strategic Imperative for GCC Food Producers

                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                        Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

                        Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

                        Iraq’s Development Road: A New Contender in Global Trade Routes?

                        Iraq’s Development Road: A New Contender in Global Trade Routes?

                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

                        Consumer Electronics Boom Continues Across GCC, Middle East

                        Consumer Electronics Boom Continues Across GCC, Middle East

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                          Oman Launches $103 Million Tender for Salalah’s Spray Boulevard Project

                          Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

                          Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

                          Iraq Launches $400–600M Tender for Baghdad Airport Development

                          Iraq Launches $400–600M Tender for Baghdad Airport Development

                          Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

                          Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

                          Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

                          Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

                          Qatar’s Construction Sector Poised for Transformation, Says New Report

                          Qatar’s Construction Sector Poised for Transformation, Says New Report

                          Jeddah Tower Set to Claim Title of World’s Tallest Building

                          Jeddah Tower Set to Claim Title of World’s Tallest Building

                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

                          Iraq to Establish Four New Desalination Plants in Basra

                          Iraq to Establish Four New Desalination Plants in Basra

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                            Iraq Accelerates Solar Energy Expansion in Public Sector

                            Iraq Accelerates Solar Energy Expansion in Public Sector

                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

                            Oman Seeks Bids for Two Major Substation Projects

                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Iraq Aims for 12 GW of Renewable Energy by 2030

                            Iraq Aims for 12 GW of Renewable Energy by 2030

                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                              Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                                Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

                                Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

                                Qatar Expands Role as a Leading Global Tourism Destination

                                Qatar Expands Role as a Leading Global Tourism Destination

                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Africa’s Coated Printing and Writing Paper Market Set for Steady Expansion

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                                  Middle East Printing Inks Market Outlook 2025–2033

                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                    Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                    UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

                                      GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

                                      Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

                                      Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                                      Iraq’s Development Road: A New Contender in Global Trade Routes?

                                      Iraq Launches $400–600M Tender for Baghdad Airport Development

                                      Iraq Launches $400–600M Tender for Baghdad Airport Development

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                                      Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                                      Iraq to Establish Four New Desalination Plants in Basra

                                      Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

                                      Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

                                      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

                                      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                                      Home Transport & Logistics Infrastructure

                                      North African construction equipment market on the rise

                                      Meconstructionnews

                                      December 23, 2015
                                      in Infrastructure
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                                      The effect of geopolitical events on the construction machinery market in North Africa should not be underestimated, says David Semple, VP of sales for the Middle East and English- speaking Africa at Manitowoc. “Recent regional events have significantly impacted our sales, and we are coming out of three to four years of low sales volumes in this region.”

                                      The infrastructure story in North Africa remains a world apart from the dynamics of other African regions, according to Deloitte’s ‘African Construction Trends Report 2014’. Attributable to the recent, and in some cases ongoing political challenges in the region, investor confidence varies, the report claims. However, North Africa is rebounding, EY claims, noting that political uncertainty is fading, and North Africa is becoming increasingly attractive as an investment destination. On the whole, the African economy is expected to grow by 5.7% in 2015, yet North Africa currently accounts for only 3% of total infrastructure projects on the continent by number of projects, as per Deloitte’s research.

                                      “The period between 2011 and 2014 has been highly unstable and not conducive to any private or public investments,” Semple says. He added that Manitowoc did fulfil a small number of orders for cranes to Egyptian state companies – mainly in the oil and gas sector – during that time period, but not the volume that a market like Egypt is capable of absorbing.

                                      Despite the low percentage of total infrastructure projects in North Africa, the project value totals $9 billion, showing an increase from $7 billion in 2013, indicating that demand is returning to the region.

                                      Speaking on the level of demand in the North Africa region, specifically for construction machinery, Dawei He, director of the sales division (in the Middle East, Africa and Asia Pacific) at Dressta, comments: “The demand in this region remains comparably higher, supported by rich local resources and energy, and less-modernized civil structures.” Dawei also says Dressta is suffering a drop at the moment due to sharply decreasing oil and gas prices, but the company is seeing some positive trends, including reforming and opening policies, appropriate policies adopted for foreign investment and international cooperation, and growing demand for facility improvement. He adds that the leading markets at present for Dressta’s construction equipment are Algeria, Libya and Ethiopia.

                                      Discussing the growth in the Egyptian construction market, Semple, says: “Construction activity and infrastructure development is growing, and there is a strong political desire to support the economy by the current president, Abdel Fattah el-Sisi.”

                                      Speaking specifically of the construction of the New Suez Canal project, he says: “El-Sisi has set the stage with the expansion of the Suez Canal project, which was carried out by dozens of companies working in parallel, allowing this project to progress at a record pace.

                                      “The extravagant grand opening of this new waterway… demonstrates how El-Sisi intends to rescue the economy by putting Egypt back on the geopolitical and economic Middle Eastern map. While the other projects under discussion [Cairo, metro, desalination plant] might seem less iconic or symbolic… they will for sure be generating significant new construction machinery and equipment enquiries.”

                                      On geopolitical tensions and the potential for a healthy construction sector in the future, Dawei says: “Only a stable social and reforming environment can guarantee the market growth and sales consistency, unrest will continue to block the projects and sales leads.”

                                      EY’s research into the African economy discovered that an unstable political environment is most commonly cited of as the top perceived barrier to investment in Africa. In light of the easing political tension in the region, the geopolitical trends influencing sales are a key topic in the market. This view point is developed in research conducted by KPMG in the construction sector in Africa, which identifies that from a political perspective, infrastructure and construction investors require a stable political environment, given the long-term nature of such investments.

                                      Yong Yue, sales director at LiuGong Middle East, says: “The level of demand in this market for construction machinery is quite strong in this area, however the demand has dropped due to the unstable political issues in last couple of years.” He also adds that in his opinion, future health and prosperity in the sector will require “years to make a full recovery”.

                                      While geopolitical tensions and weak economic growth led to a 3.1% decline in FDI projects worldwide in 2014, and 8.4% in Africa in 2014, African investments still remained well above pre-2008 levels, according to EY’s analysts.

                                      In terms of future major announcements in North African construction projects, Dawei says that some projects remained “pending or delayed due to lack further financing”, citing uncertainty as having caused additional setbacks.

                                      Deloitte agreed that there was a marked withdrawal by Foreign Institutions and African DFIs in project funding, possibly due to the volatile security and political situation in parts of the region.

                                      Enrico Angiolini, sales director for South Europe at Manitowoc, discusses the impact this has had on sales. Commenting specifically on the current state of the Libyan crane market, Angiolini says: “The civil war has had a detrimental impact on sales, which came to a virtual standstill during the war, and we do not foresee activity levels resuming until the country reaches a certain level of political stability.”

                                      Concentrating on the future of the construction industry, Angiolini says, “We have not seen any sign of a construction industry pick-up. Foreign contractors from Europe, Turkey, the Middle East and China have been managing most of the major projects in Libya in recent years, and they have mostly now left the country. There is little hope of them returning any time soon.”

                                      However, in addressing the positive growth and demand in the Algerian market, Orlando Mota, sales director for the Mediterranean, Iberia, Israel, Angola & French-speaking Africa at Manitowoc, says: “Algeria is one of the most active markets in Africa today, with several new projects planned as the Algerian government undertakes massive investment plans for oil and gas infrastructures.”

                                      Due to current oil prices, spending has slowed down, he says. “Considering that oil and gas accounts for nearly all of Algeria’s export value, spending is slower at the moment. On the other hand, China is continuing to expand its influence in the region, especially in Algeria. A number of projects have been given to Chinese contractors and these are helping Algeria continue its momentum of growth."

                                      “As we continue to see a slowdown in oil prices, and with China’s increasing market presence, we trust that Algeria will remain an active market but at levels that are a bit below previous levels.”

                                      Commenting on the situation in Morocco, he said: “Morocco is slightly different, as the economy was deeply affected by the European recession in 2009, and has failed to recover properly.”

                                      But on a more positive note, Mota explained how that Mohammed VI, King of Morocco, announced several new infrastructure projects at the end of last year.  “Over the last few months, we have seen a gradual increase in residential construction, which has revitalized the market,” Mota says.

                                      “As far as Tunisia is concerned, the construction market remains stagnant, with the economy relying heavily on the tourism industry, which dropped in recent years. The construction industry has suffered a slowdown. Tunisia and Morocco are the two countries that have been most affected by the recent geopolitical trends. However, we do predict that Algeria may also encounter problems in the future.”

                                      Foreign investment in Africa
                                      The economic boom in the Middle East region has resulted in Arab investors spreading their investments to north and sub-Saharan Africa in search of the returns that are becoming increasingly difficult to find in saturated Western markets, according to Business Guide Africa. Consequently, there have been many joint ventures, mergers, acquisitions and reverse takeovers in African nations, backed by capital surpluses in the Gulf.

                                      According to the White House website, the US government has launched programs to facilitate trade and investment in Africa, most notably President Barack Obama’s 2013 Trade Africa initiative, aimed at expanding US-Africa trade and investment. The US’ American Doing Business in Africa campaign is backed by $7 billion of funding.

                                      However, European investors continue to launch the largest number of direct investment projects in Africa. European nations, led by the UK, remain keen investors overall, though British companies eased back last year, Deloitte research claims. The European Union (EU) is currently looking to promote growth in Africa by negotiating economic partnership agreements (EPAs) with regional blocs in the continent. Three of these EPAs are intended to create duty-free and quota-free access for African goods to the EU market.

                                      African megaprojects
                                      Investment in African megaprojects jumped 46% to $326 billion in 2014. This growth was led by heavy investment in transport, energy and power, according to the third annual Deloitte African Construction Trends Report. The report identifies Africa's rapidly growing middle class as driving demand for sustainable social infrastructure, claiming that Africa is en route to a brighter future and overall will see the opportunities surpassing the challenges facing the continent. Of the construction projects mentioned, 143 were led by the public sector; a further 88 were private-sector initiatives and 26 were classified as public private partnerships (PPPs). Energy and power accounted for 37% of the mega projects undertaken during 2014, followed by transport (34%), mining (9%), property (6%), water (5%), oil and gas (4%), mixed- use facilities (2%) and health care (1%).

                                      Africa's infrastructural development is being propelled by increased output in the natural resources sector, which in turn underpins rising fiscal expenditure on infrastructure projects, the report claims. This has facilitated rising international trade with the continent. Rapidly growing urbanization and rising domestic demand in Africa has simultaneously ushered in a new wave of foreign direct investment in the continent's biggest and most dynamic economies. The report concludes by confirming continued, intensive construction activity across the continent.
                                      Meconstructionnews
                                      23 December

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