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GCC
Bahrain
GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment
The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs
Banking & Finance
Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024
The surplus was directed towards reducing public debt, and therefore there is no cash surplus
Banking & Finance
MENA sees 321 M&A deals worth $49.2 billion in H1 2024, UAE and Saudi Arabia lead
The UAE and Saudi Arabia reported 94 deals, accounting for 61 percent of the overall domestic M&A deal volume
Bahrain
UAE faces 11.7 percent rise in malware detections as email attacks surge 293 percent globally: Report
Cybersecurity experts stressed the need for improved vigilance and protective measures against growing threats
Hospitality & Tourism
Qatar’s Hamad International Airport sees 25 percent surge in passenger numbers in H1 2024
Hamad International Airport welcomed 25.9 million passengers in H1 of 2024
Economy
Arab Monetary Fund optimistic about UAE’s economic outlook, forecasts 6.2 percent growth in 2025
The report noted strong performance in the fuel and tourism sectors
Kuwait
Kuwait’s real estate market reports $300.86 million in transactions, 14 percent rise week-over-week
The surge is equivalent to an additional KWD13 million compared to the previous week's trading value of KWD79 million
Oman
Oman bans plastic bag imports, new regulation effective this date
The prohibition covers both biodegradable and non-biodegradable plastics
Economy
Kuwait sees deficit of $5.23 billion in FY 2023/24 despite non-oil revenue growth
The country's total revenue in fiscal year 2023-2024 was KWD23.645 billion
Economy
Kuwait’s inflation slows to 2.8 percent in June, lowest since 2020, as food and rent costs cool
Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May
Banking & Finance
Indian travelers may soon make UPI payments in Qatar
New partnership will let Indian tourists use their preferred payment methods at retail, attractions, leisure, duty-free, and hotels
Economy
Oman’s GDP expands 1.7 percent in Q1 2024, reaching $24.77 billion
Crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion
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