CGI Gulf Insights of the week (copy 155) (586)

ByCGI Gulf Insights of the week
Monday, 17 July 2023
Published inJuly 2023

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July 2023

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Issue No:374

Country Risk Update - Bahrain

Risk Indicator - DB4c
Risk Level - Slight
Ratings Trend - Improving

Bahrain plans to streamline commercial procedures to improve their efficiency and to reduce the bureaucratic steps required to establish a business to improve its attractiveness to foreign investment in 2023. The four-year Government Action Plan intends to review social welfare benefits and subsidies, support higher education, and increase wages in public and private sectors, as well as subsidising electricity and water for expatriates and companies. The CBB aimed to complete the onboarding of the entire Bahrain banking sector onto the Arabian Gulf System for financial Automated Quick Payment Transfer (AFAQ) - a real-time service for cross-currency, cross-border payments between GCC countries, by the end of 2022. The banking sector is well-capitalised and has recorded robust increases in both non-bank deposits and lending in 2022.

MARKET OVERVIEW

Sheikh Mohammed orders promotion of 8,385 high-ranking, non-commissioned and other officials

(Source: Khaleej Times)

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued directives to promote 8,385 high-ranking officers, non-commissioned officers and other officials from Dubai Police, the State Security Department in Dubai, the General Directorate of Residency and Foreigners Affairs in Dubai, and the General Directorate of Civil Defense in Dubai. The promotions were granted in recognition of their significant contributions to enhancing the performance of the security system in the emirate and fostering the highest levels of security and safety for all members of society, including citizens, residents and visitors.......

UAE leads Arab region and ranks among global top 30 in UN industrial performance index

(Source: The National News)

The UAE has been ranked first in the Arab region and 29th globally in the Competitive Industrial Performance Index released by the UN Industrial Development Organisation, as the country continues to boost its status as an industrial and manufacturing hub. The Emirates has climbed up two spots from last year’s index. The CIP, which ranks 153 countries, assesses national industrial performance in the global economy, benchmarking the ability of nations to produce and export competitively. It is based on indicators including technological capabilities, innovation, productivity and trade performance.......

Global investment perspective 2023: The way ahead

(Source: Gulf Business)

As the year unfolds, emerging economies led by India are expected to grow at 3.9 per cent, with the Middle East, Central Asia and Sub Saharan Africa expected to grow at an average of 3.3 per cent. The year 2023 has brought in a whole lot of surprises for the markets. It started with heightened anxiety about further market price action and the inflation trajectory. As the year has progressed, we’ve seen market complacency dominate the overall high inflation rhetoric. The recent softening in US inflation numbers has supported the expectations of the peak in inflation and the corresponding prime lending rates. Although some might still argue about.......

UAE President and Indian PM witness exchange of MoUs heralding further collaboration

(source: Emirates247)

President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi today witnessed the exchange of three Memoranda of Understanding (MoUs) aimed at catalysing further collaboration and partnerships between the two countries. The exchange of MoUs came during Prime Minister Modi’s official visit to the UAE, during which the two leaders discussed ways to continue the momentum of growing UAE-India ties following the signing last year of their Comprehensive Economic Partnership Agreement (CEPA). Key among the MoUs exchanged today is an agreement on commercial exchange in local currencies......

COMMODITY & STOCK MARKET UPDATE

Commodity Update

(source: Nasdaq)

The weekly commodity update from Nasdaq

Stock Market Update

(source: Mubasher)

CRIF D&B WORLD

D&B Hoovers powered by the Dun & Bradstreet Data Cloud

(Source: CRIF - Dun & Bradstreet)

The key to smarter prospecting is having the right data about your target account. With D&B #Hoovers you can save time and get the information you need in one easy-to-use, self-service platform.......

Most trustworthy companies in America 2023

(source: CRIF - Dun & Bradstreet)

Dun & Bradstreet is proud and honored to be named to Newsweek's 2023 list of Most Trustworthy Companies in America, ranking #12 in the Consulting & Professional Services category for customer trust, investor trust and employee trust........