CRIF – Dun & Bradstreet is pleased to bring to you the latest edition of our newsletter ‘CRIF Gulf Insights’ (CGI). CGI will keep you informed about the current trends in the GCC markets and highlight key events in the regional and global economy.
Best Regards, CRIF Dun & Bradstreet Communications Team
CGI | Issue 43 | October 2016
Country Risk Update – Qatar
Qatar’s GDP per capita has surged since the mid-1990s, although this has slowed in recent years. The government is starting to address the lack of innovation by encouraging R&D in the country. A dependence on hydrocarbon exports creates problems for the decision-making process, as it is at the mercy of fluctuating world prices and oil production quotas. Qatari banks are still showing profit growth, although it is slowing significantly. In the latest reporting round, the 13 QSE-listed financial services entities showed a 3.5% rise in net profits, albeit down from 8.2% over the same period the previous year.
Business, Finance and Commodity News
Kuwaiti property sales slip 27% in Q3
Real estate sales in Kuwait have dropped 27 percent in the third quarter of 2016 to $5.58 billion (KD1.7 billion) in line with slower activity in the sector caused by increased utility prices and pressure on the government budget.
The number of transactions also fell by 24 percent year on year.
Kuwait issues new copyright law
The new law prevents the unauthorised publication, reproduction, public broadcast or rebroadcast, public communication, translation, adaptation, rental, or the making available of the work to the public including via computer, the internet, information networks, communications networks or other means.
The new law, which applies to nationals and expat residents, also allows performance artists financial rights.
Oman Chamber says employee health insurance to become mandatory in 2018
According to Oman Chamber, ethical health insurance cover must be provided to all private sector workers by 2018. The chamber urged companies to abide with the plan in a notice issued this week.
This follows a trend this year of companies in the country removing or reducing their health cover for employees due to tougher economic conditions.
Saudi car insurance prices said to surge 400%
The cost of car insurance in Saudi Arabia has reportedly rocketed 400 percent as a result of an increase in traffic accidents.
Motorists have called on the authorities to intervene and bring down prices to affordable levels, while insurance providers say costs would rise further as reckless driving worsens in the kingdom.
Industry experts blamed concrete blocks along the roads for a reported 15 percent rise in accidents in recent months.
Officials draft pan-Arab customs law
Customs officials from Arab states including the UAE have reportedly drafted a unified customs law to help streamline rules around trade.
The law was announced at a meeting of a special commission of the League of Arab States.The 181-article pan-Arab draft law is to be reviewed by Arab states, which will send their feedback to the commission ahead of the next meeting of the Arab League’s Economic and Social Council.
D&B Article of the Week
Mission Possible: Personalized B2B Marketing in the Age of Colossal Data
Business-to-business (B2B) marketers who strive to “personalize” content today are doing more than dropping a prospect’s first name into a promotional email. They’re on a serious quest to deliver a relevant message, at an optimal time, through a preferred channel and device. It’s the mantra on the lips of nearly every marketer. But as we all know, it’s a Herculean feat to pull off – especially with a half-hidden customer calling the shots.
Anyone who attempts personalized B2B marketing is pestered by a niggling problem. It requires us to get everything “right,” but what’s “right” is relative to the individual business buyer in question. Read More..
CRIF and Bohai Credit enter into a strategic partnership to help solve the financing problems of Chinese enterprises On October 18, 2016 in Beijing, CRIF signed a collaboration agreement with Bohai Credit, a credit information company operating under HNA USOLV, a subsidiary of HNA Group, with the objective of building a supply chain finance platform to help micro, small and medium-sized enterprises in China to access credit, and manage the high costs of financing and the risk of over-indebtedness.
CRIF in the 2016 FinTech Forward Top 100 ranking American Banker BAI ranked CRIF in its prestigious FinTech Forward Top 100 ranking of solution providers that derive more than one-third of their revenue from financial institutions.
This Top 100 ranking, which is based on 2015 revenues of hardware, software and IT services to financial institutions at worldwide level, provide validation for vendors in a highly competitive and regulated marketplace as well as highlight influencers that are shaping the industry.
CRIF D&B is a proud partner to the 7th Annual ACAMS AML and Financial Crime Conference. Visit us at table no.16 to know more about compliance and D&B Onboard! Read more
Upcoming Events this Week
7th annual ACAMS AML and Financial Crime Conference Nov 13 – Nov 14
Gulf Traffic Exhibition Nov 13 – Nov 15
Dubai World Trade Centre
Social Media Week Independent Dubai Nov 15 – Nov 16
Al Serkal Avenue
Reading Recommendation of the Week
Lean In: Women, Work, and the Will to Lead
Thirty years after women became 50 percent of the college graduates in the United States, men still hold the vast majority of leadership positions in government and industry. This means that women’s voices are still not heard equally in the decisions that most affect our lives. In Lean In, Sheryl Sandberg examines why women’s progress in achieving leadership roles has stalled and offers solutions that can empower women to achieve their full potential.
Release Date: March 11, 2013
Did You Know?
You Could Protect Your Business from Credit Risk Using CRIF D&B’s Business Information Reports?