CGI Gulf Insights of the Week 26 Mar 2017

  • ByCGI Gulf Insights of the Week
  • Sunday, 26 March 2017
  • Published inMarch 2017


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.

We look forward to your feedback at [email protected]

Happy Reading!

Best Regards,
CRIF Dun & Bradstreet Communications Team

CGI | Issue 62 | March 2017
Country Risk Update - Qatar
The fall in export earnings was primarily due to a slump in oil and gas export revenues, which dropped by 38.1% y/y to QAR79.6bn. Petrochemicals, which are Qatar’s second largest export item, also declined by more than a quarter as their prices are also linked to the oil price. Conversely, imports rose over the same period, albeit only marginally. Total imports rose by 2.2% y/y to QAR59.9bn, although in the second quarter, they contracted by 1.7%. The contraction in hydrocarbons revenues has also had a negative impact on overall growth. On a positive note, growth picked up considerably from the previous quarter, when overall real GDP growth registered just 1.1% y/y. Also, The government is starting to address the lack of innovation by encouraging R&D.
Business, Finance and Commodity News
Saudi, US announce $200bn joint investment programme 

Saudi Arabia and the US have announced plans to strength cooperation in a number of sectors with a new joint investment programme potentially worth more than $200bn over the next four years. This would involve unique initiatives in energy, industry, infrastructure, and technology. The plans could create as many as one million direct American jobs during the period and jobs in Saudi Arabia.

Dubai named top hub for global firms looking for regional HQ

Dubai is the most popular choice for top global companies who want to set up regional HQs in the Middle East and Africa (MEA) region. There was a 17 percent increase in the number of companies seeking a presence in the region in 2016 compared to 2015, with Dubai being the leading destination for regional HQ's. The research looked at the top companies, taken from the Fortune 500 ranking and their HQ's in MENA.

Kuwait's tourism industry to be worth $1 billion by 2027

Kuwait has said it will spend $1bn promoting tourism over the next seven years as it aims to increase visitor numbers to 440,000 a year by 2024. A Supreme Commission for Tourism is being established to initiate the country’s tourism strategy and oversee a number of mega-projects that will receive billions of dollars in investment. The World Travel and Tourism Council estimates that travel and tourism investment in Kuwait is set to rise 1.5 percent per annum.

GCC said to be planning $240bn of rail investments

A merger of Dubai's Shuaa Capital and Bahrain's GFH Financial would form a diverse conglomerate with a market capitalisation of about $2.5 billion and interests ranging from retail and investment banking to broking and property development. Shares in both companies have surged as some investors bet a string of deals involving Shuaa in recent months were preparations for an eventual merger with GFH,  listed in both Bahrain and Dubai.

Commodity Tracker
D&B Article of the Week
Human Trafficking: Cause and Cure
How Forced Labor Enters Your Supply Chain… And How to Keep It Out.
It’s hard to imagine a company actually condoning the use of human trafficking in its supply chain. No company would ask its suppliers to use forced labor. Yet more than 20 million men, women and children are still the victims of modern slavery. Read more
CRIF D&B Highlights
CRIF and HARMONYCREDIT established a strategic partnership for credit risk management solutions in Beijing
With CRIF's advanced credit scoring model and decision solutions, the new platform will help individuals as well as small and medium-sized and micro-companies improve credit management with effective and customized services.

Dun & Bradstreet acquires Avention
Dun & Bradstreet acquired Avention, which provides company, contact, and market data through its OneSource® solutions.This acquisition combines Dun & Bradstreet’s best-in-class content with Avention’s intuitive, user-friendly platform to provide sales and marketing professionals with actionable market and company information.

CRIF Gulf Introduces iPulse
iPulse is a new state of the art business application that supports end-to-end field due diligence process. For more information, send an email to [email protected]
Upcoming Events this Week
Gulf Print and Pack 2017
Mar 26 - Mar 29

Aviation and Law Dubai 2017
Mar 27 - Mar 28
Madinat Jumeirah
Reading Recommendation of the Week
In Originals Adam Grant addresses the challenge of improving the world, but now from the perspective of becoming original: choosing to champion novel ideas and values that go against the grain, battle conformity, and buck outdated traditions. 
Release Date:
February 2, 2016
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