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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Africa: From Food Importer to Global Powerhouse

    Africa: From Food Importer to Global Powerhouse

    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

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

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

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

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

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      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

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

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

      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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

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

      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

        Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

        Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

        Oman Awards Over $600 Million in Contracts for Tourism Expansion

        Oman Awards Over $600 Million in Contracts for Tourism Expansion

        Baghdad Metro Project Moves Forward Under New Implementation Strategy

        Baghdad Metro Project Moves Forward Under New Implementation Strategy

        Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

        Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

        Deal Signed to Build Bahla Cultural Center Facility in Oman

        Deal Signed to Build Bahla Cultural Center Facility in Oman

        Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

        Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

        Iraq Approves 5,000-Unit Housing Project in Basra

        Iraq Approves 5,000-Unit Housing Project in Basra

        AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

        AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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          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

          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

          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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

            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

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

            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

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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              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’

              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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

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

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

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

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

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

                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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

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

                Packaging Becomes Lifeline for Struggling Print Industry

                Packaging Becomes Lifeline for Struggling Print Industry

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                Printed Packaging Labels & Release Liners Set for Strong Global Growth

                Printed Packaging Labels & Release Liners Set for Strong Global Growth

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

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

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

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

                  Consumer Electronics Boom Continues Across GCC, Middle East

                  Consumer Electronics Boom Continues Across GCC, Middle East

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

                  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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                  Empowering Oman’s Future: Turning AI Vision into Practical Impact

                  Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                  Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

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                    Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                    Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                    Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                    Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                    Baghdad Metro Project Moves Forward Under New Implementation Strategy

                    Baghdad Metro Project Moves Forward Under New Implementation Strategy

                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                    Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                    Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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

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

                    Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                    Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                    Riyadh Unveils Final Master Plan for Expo 2030

                    Riyadh Unveils Final Master Plan for Expo 2030

                    Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                    Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Africa: From Food Importer to Global Powerhouse

                      Africa: From Food Importer to Global Powerhouse

                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

                      Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

                      Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

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

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

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

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

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                        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

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

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

                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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

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

                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                          Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                          Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                          Oman Awards Over $600 Million in Contracts for Tourism Expansion

                          Oman Awards Over $600 Million in Contracts for Tourism Expansion

                          Baghdad Metro Project Moves Forward Under New Implementation Strategy

                          Baghdad Metro Project Moves Forward Under New Implementation Strategy

                          Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

                          Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

                          Deal Signed to Build Bahla Cultural Center Facility in Oman

                          Deal Signed to Build Bahla Cultural Center Facility in Oman

                          Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

                          Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

                          Iraq Approves 5,000-Unit Housing Project in Basra

                          Iraq Approves 5,000-Unit Housing Project in Basra

                          AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

                          AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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                            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

                            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

                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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

                              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

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

                              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

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                                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’

                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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

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

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

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

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

                                  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

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

                                  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

                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

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

                                    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

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

                                    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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                                    Empowering Oman’s Future: Turning AI Vision into Practical Impact

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                                    Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

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                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                                      Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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

                                      Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                                      Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                                      Riyadh Unveils Final Master Plan for Expo 2030

                                      Riyadh Unveils Final Master Plan for Expo 2030

                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                                      Home Business & Economy Economy

                                      S&P: Majority of the $220 billion projects in Qatar to be completed ahead of the World Cup

                                      PR

                                      September 20, 2015
                                      in Economy, Infrastructure
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                                      Qatar continues to implement its large public infrastructure investment program. We view this as supportive of medium-term real economic growth, although it will contribute to a deterioration in fiscal and external balances, exacerbated by the large fall in oil prices.
                                           — Nevertheless, we expect Qatar's fiscal and external buffers to remain strong.
                                           — We are therefore affirming our 'AA/A-1+' ratings on Qatar.
                                           — The stable outlook reflects our view that Qatar's economy will remain resilient, supported by strong macroeconomic fundamentals, although we anticipate continued institutional weaknesses and limited monetary flexibility over the next two years.
                                       
                                      RATING ACTION
                                       
                                      On Sept. 18, 2015, Standard & Poor's Ratings Services affirmed its 'AA' long-term and 'A-1+' short-term foreign and local currency sovereign credit ratings on the State of Qatar. The outlook is stable.
                                       
                                      We also affirmed the 'AA' long-term issue ratings on the bonds issued by Qatari Diar Finance Q.S.C. and SoQ Sukuk A Q.S.C.
                                       
                                      RATIONALE
                                       
                                      Qatar is a wealthy economy; we estimate its GDP per capita at $81,000 in 2015.
                                      The hydrocarbons sector creates about 55% of Qatar's GDP, 90% of government revenues (oil and gas taxes and royalties, plus dividends from Qatar Petroleum), and 85% of exports. We view Qatar's economy as undiversified.
                                       
                                      Qatar's economy grew by about 6% over the last three years, but we expect growth to slow to about 4% during 2015-2018. The hydrocarbon sector will likely continue to stagnate. The non-oil sector, on the other hand, should remain buoyant, thanks to public investment and supported by the growing population.
                                      We understand that the government is committed to the large public infrastructure program and its efforts to diversify the economy, while maintaining its strategic position in the global natural gas market.
                                       
                                      In our view, medium- to long-term challenges to Qatar's competitive position in the liquefied natural gas (LNG) market are likely to come from new shale production, Russia's gas pipeline to China, and increased pressure to delink LNG contracts from the price of oil (see "https://www.globalcreditportal.com/ratingsdirect/showArticlePage.do?object_id=8313294&rev_id=4Articlehtmlxt_artcl-mark-hyperlnkCredit FAQ: What Is The Significance Of The Shale Phenomenon For Gulf Oil And Gas Producers?," published Nov. 18, 2013, on RatingsDirect).

                                      Nevertheless, Qatar's strategy has been to diversify into all major markets, adjusting the mix of destinations and contract types according to market needs. Moreover, the majority of its gas exports are under long-term contracts, which provides some certainty regarding the volumes sold. We also expect that Qatar will maintain its cost advantage over many new projects in other countries. Since Qatar produces and exports significant quantities of condensate and natural gas liquids associated with natural gas, its effective average cost of producing LNG is much lower.
                                       
                                      We assume that Qatar's oil production will decline as output from maturing fields contracts. We expect an average annual decline in crude oil production of about 5% over 2015-2018. We project largely flat gas output (LNG and natural gas), given Qatar's moratorium on new investments in the sector, while condensate volumes will likely increase by about 5% per year over the same period.
                                       
                                      The large drop in oil and natural gas prices and the government's public investment program have led to a deterioration of the fiscal balance beginning in 2014. We expect the general government balance to fall into a deficit of 4.5% of GDP in 2016, from a modest fiscal surplus in 2015. Our outlook assumes that public spending will continue as the investment program advances. We also project a decline in hydrocarbon income, namely the financial transfers from
                                      Qatar Petroleum to the budget, which come to the government budget with a lag. The government intends to rationalize and outsource part of its operations and to award more projects to the private sector, though whether the desired level of private sector participation can be achieved remains to be seen, in our view.
                                       
                                      In the context of lower hydrocarbon revenues and increasing capital spending, the government is prioritizing existing projects, focusing funding on the highest-priority and strategic investments. We expect national development strategy projects to improve the economy's productive capacity and strengthen Qatar's competitive position. We understand that the government plans to award about $220 billion of large-scale investment projects over the next 10 years.
                                      The program will focus on infrastructure, education, and health, and we expect the majority of these projects to be completed ahead of the football World Cup in 2022, which Qatar is hosting.
                                       
                                      Alongside government investments funded through the budget, public-enterprise and private-sector spending on the national development strategy is likely to be largely funded by borrowing from domestic financial institutions. This may cause banks' net external liability positions to widen and their loan-to-deposit ratios to rise, as we expect deposit growth in the Qatari banking system to gradually decelerate due to low oil prices. The ratio of domestic credit to total deposits in the Qatari banking system was 107% as of June 2015, slightly up from 106% at end-2014. Public sector deposits represented about 37% of the resident deposit base in June 2015, down from 39% at year-end 2014.
                                       
                                      We project Qatar's external surpluses to narrow substantially in the medium term as export receipts fall sharply between now and the end of 2016, while import demand remains strong. The transfers and income accounts of the current account will remain in deficit, the former due to remittance outflows as a result of the expatriate population and the latter due to payments to the foreign firms that partner with Qatari companies in the oil and gas industry.
                                      Qatar's net external asset position will remain strong at about 250% of current account receipts in 2015-2018. Qatar has accumulated considerable foreign assets over the past decade, as a result of its development of its natural resources. We forecast that the general government net asset position will also stay robust, estimated at about 100% of GDP in 2015. Qatar has the third-largest proved reserves of natural gas in the world. We expect Qatar's reserves to provide many decades of production at the current levels.
                                       
                                      Domestic political and social stability prevails, despite what we view as only gradual political modernization and a highly centralized decision-making process. In our view, the country's public institutions are still relatively undeveloped compared with those of most 'AA' rated sovereigns. Executive power remains in the hands of the emir. In our view, the predictability of future policy responses is tempered by weak political institutions, although in our base case we assume that policy will continue to focus on prudent development of the hydrocarbon sector, alongside further economic diversification. In addition, material data gaps exist and transparency is limited, by international standards. In particular, the government neither discloses nor reports earnings on its fiscal assets. In our view, monetary policy flexibility is limited because the exchange rate is fixed to the U.S. dollar.
                                       
                                      OUTLOOK
                                       
                                      The stable outlook reflects our view of balanced risks to the ratings over the next two years. We believe that Qatar's economy will remain resilient, supported by strong macroeconomic fundamentals, but we also anticipate continued institutional weaknesses and limited monetary flexibility over the next two years.
                                       
                                      We could lower the ratings on Qatar if developments in hydrocarbon production and prices, or in the banking sector, were to significantly weaken the country's external or fiscal positions; for example, if the government's gross liquid assets fall significantly below 100% of GDP by our estimates.
                                       
                                      We could raise the ratings on Qatar if we saw domestic institutions mature faster than expected, alongside significant improvements in transparency regarding government assets and external data quality.
                                      PR
                                      20 September

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