Briefings by Thinking Arabian | 56

Contents

• In a nutshell
• Briefings on?Egypt, Jordan, Morocco, MENA & GCC, the United Arab Emirates, Oman, Saudi Arabia and Qatar

In a Nutshell

Foreign remittances to Morocco reach 910 million dollars in January 2024

• In 2023, remittance flows from Moroccans abroad remained remarkably strong, gaining momentum after the devastating earthquake on September 8.

Qatar's 2023 budget records surplus of QAR 43.1 billion

• Qatar's 2023 budget shows a surplus of QAR 43.1 billion (over $11.8 billion), which will be used to reduce government debt, the Gulf state's Ministry of Finance announced on Monday.

Qatar-Oman business meeting looks at promoting investment

• Qatar Chamber hosted the Qatar-Oman Business Meeting on Wednesday, February 28, at the Chamber's headquarters.

Saudi non-oil exports to GCC countries rise 42% to $5.55 billion

• According to official figures, Saudi Arabian non-oil exports to the Gulf Cooperation Council countries increased by 42 percent in the last three months of 2023.

Corporate tax in the United Arab Emirates: Why it's important to pay attention to the new deadlines

• The Federal Tax Authority has just published new corporate tax registration deadlines for eligible companies in 2024. This has changed the understanding of the timing requirements for corporate tax registration.

CEPA with the UAE helps Costa Rica expand its presence in the Middle East

• According to Costa Rican Foreign Trade Minister Manuel Tovar, the Comprehensive Economic Partnership Agreement (CEPA) with the UAE is a milestone for Costa Rica as it offers the opportunity to expand its presence in the Middle East.

Briefings

Egypt

Egypt devalues its currency and introduces a flexible exchange rate ?

The Central Bank of Egypt (CBE) devalued the Egyptian pound. It introduced a flexible exchange rate system determined by market forces following an unscheduled meeting of the Monetary Policy Committee on March 6. (06.03.2024, Egyptian Streets)

Egypt signs $40 billion deals with global renewable energy investors

Egypt signed contracts with seven global developers on February 28 for green hydrogen and renewable energy projects expected to attract investments of $40 billion (EGP 1.2 trillion). (03.03.2024, Egyptian Streets)

BP to invest $1.5 billion in Egyptian gas projects ?

BP is preparing to invest around $1.5 billion in the development of gas projects and drilling in Egypt over the next three to four years, the company has announced. (29.02.2024, Arab News)

Jordan

Jordan to receive up to $100 million annually from EBRD ?

According to a senior official, Jordan will receive over $100 million annually in investments in the energy and green economy sectors. (29.02.2024, Arab News)

Morocco

Morocco is a leader in the field of intellectual property in Africa and the Arab world

This achievement underscores Morocco's unwavering commitment to strengthening its regulatory and legal framework and aligning with international standards. (02.03.2024, Morocco World News)

Morocco's aviation exports increase by 23% in January 2024 ?

Experts emphasize that Morocco is becoming a "one-stop store" for aerospace parts. (02.03.2023, Morocco World News)

MENA & GCC

How the countries of the Middle East and North Africa can overcome climate challenges

The Middle East and North Africa region is at a crossroads. As temperatures rise, water scarcity increases, and desertification spreads, the region's immense economic potential is at risk unless bold action is taken. (02.03.2024, Arab News)

Reading marathon promotes library culture and a greener future ?

A reading marathon to promote library culture and environmental awareness was recently held in Saudi Arabia, Egypt, and Morocco, with over a quarter of a million pages read. (04.03.2023, Arab News)

According to the Union of Arab Chambers, inter-Arab trade amounts to $700 billion ?

Inter-Arab trade amounts to $700 billion and accounts for 10-11 percent of world trade, the secretary general of the Union of Arab Chambers said during the World Trade Organization ministerial conference in Abu Dhabi. (29.02.2024, Arab News)

The United Arab Emirates

UAE announces new 'Trade for Development' platform to help developing countries make trade more inclusive ?

The UAE, host of the 13th Ministerial Conference of the World Trade Organization (WTO MC13), has announced plans to develop the "Trade for Development" platform. (29.02.2024, WAM)

Adnoc generated 500 million dollars last year with the help of artificial intelligence tools ?

The company says it is at the beginning of a multi-year program to accelerate the use of the technology. (05.03.2024, The National)

UAE President launches initiative to combat global water shortage ?

On the instruction of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, the Mohamed bin Zayed Water Initiative was launched today to address the urgent challenge of water scarcity in the world. (29.02.2024, WAM)

UAE's Masdar acquires 49% stake in UK offshore wind farm ?

Construction of the mega plant could begin by the end of 2025, and the first 800 megawatts (MW) of electricity is expected to be connected to the grid in 2029. (01.03.2024, Gulf Business)

Mohammed bin Rashid gives an overview of the UAE government's financial achievements and initiatives for 2023 ?

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Head of Dubai, has given an overview of the UAE government's financial achievements and initiatives for 2023. (03.03.2024, WAM)

Dubai Mall became the most visited place in 2023, with 105 million visitors

The latest figures from Emaar Malls show that a record 20 million people visited the mall in the first two months of this year alone. (05.03.2024, Gulf Business)

Oman

Oman plans to invest 31 billion dollars in tourism by 2040 ?

Oman's tourism authorities will unveil major investment plans at ITB Berlin. (05.03.2024, Arabian Business)

Saudi Arabia

Siemens opens electrical equipment plant in Jeddah ?

The multinational technology company Siemens has inaugurated its new electrical equipment plant in Jeddah in the presence of the Kingdom's Minister of Industry and Mineral Resources, Bandar Alkhorayef. (29.02.2024, Arab News)

Saudi Arabia takes bold steps towards a greener future and carbon neutrality ?

Saudi Arabia has emerged as a major player in environmental responsibility, setting ambitious targets to reduce greenhouse gas emissions by issuing carbon credits. (02.03.2024, Arab News)

The German company WIKA opens a new factory in Dammam ?

The giant industrial city of MODON, located in an industrial zone lined with warehouses and factories in Dammam, has a new factory. (01.03.2024, Arab News)

Private investment in emerging sectors will create 'huge opportunities,' says Saudi minister ?

According to a senior minister, private sector investment in Saudi Arabia will create "huge opportunities" in the digital economy, tourism, financial services, and biotechnology. (29.02.2024, Arab News)

Innovative minds come to Riyadh to explore opportunities in the tech sector ?

Saudi Arabia is gearing up for LEAP 2024, the world's most visited technology event, which will take place from March 4-7 at the Riyadh Exhibition and Convention Center in Malham. (04.03.2024, Arab News)

Saudi Arabia's small and medium-sized enterprises grow by 3.1% to 1.3 million

The number of small and medium-sized enterprises in Saudi Arabia totaled 1.3 million in the fourth quarter of 2023, an increase of 3.1 percent compared to the previous three months, official data shows. (29.02.2024, Arab News)

Saudi Arabia announces $11.2 billion tourism investment and plans to create 120,000 new jobs ?

Saudi Arabia has announced details of a tourism plan to attract investors to the kingdom. (04.03.2024, Arabian Business)

Qatar

German delegation explores investment opportunities in various sectors

The German SME Association, BVMW GCC Office in Doha, has taken an important step towards improving trade cooperation between Germany and Qatar by organizing a high-level delegation visit to Doha. (29.02.2024, The Peninsula)

The talent economy is crucial for a sustainable future ?

Qatar has a high capacity for innovation and is a destination for the world's best talent. Its education infrastructure, research programs, and corporate excellence transform the country into a knowledge economy. (01.03.2024, The Peninsula)

Qatar strengthens its position in the global gas industry, supported by flexible and interconnected markets

In recent years, the State of Qatar has made important decisions and taken significant steps to strengthen its position among the key influencers in the global gas industry. (01.03.2024, The Peninsula)