CGI Gulf Insights of the week (copy 164)

  • ByCGI Gulf Insights of the week
  • Monday, 14 August 2023
  • Published inAugust 2023
Newsletter Template - DnB
View this email in your browser
dun & bradstreet UAE
August 2023 [email protected] Issue No:378
dun & bradstreet UAE
Country Risk Update -  Kuwait

Risk Indicator - DB4b
Risk Level       - Slight
Ratings Trend - Stable
The recovering outlook for international oil prices over the course of 2023 supports a stronger-than-expected outturn for the state's economic outlook. Higher oil prices have eased Kuwait's fiscal crunch, cutting external financing needs; however, the outlook for crucial fiscal reforms remains weak. The government's latest budget will not increase capital expenditure and infrastructure investment but will prioritise 'one-off' increases in social transfers. The central bank is tightening requirements for banks to notify them about remittances of above KWD3,000 within one working day.
dun & bradstreet UAE
Dubai International Chamber helps drive UAE-based sustainable electric vehicle startup ONE MOTO’s expansion into Latin America
(Source: Emirates247)
“Dubai International Chamber remains committed to identifying new opportunities in priority markets worldwide that hold strong potential for businesses in Dubai. Our work in Latin America underlines the importance of this dynamic region, and we look forward to continuing to leverage the exciting opportunities available for the mutual benefit of all stakeholders.” Launched in Dubai in 2019, ONE MOTO is growing globally with expert assistance from Dubai Chambers. The company is bringing its affordable, sustainable.......
Read more>
dun & bradstreet UAE
UAE Central Bank fines money exchange house Dh4.8 million for violating laws
(Source: Khaleej Times)
A money exchange operating in the UAE has been fined Dh4.8 million over its "weak compliance framework" to prevent money laundering and the financing of terrorism. The exchange did not have in place the "required risk analysis" and due diligence policies and procedures. The Central Bank of the UAE (CBUAE) imposed the financial sanction as per a federal law on anti-money laundering and combating the financing of terrorism and Illegal organisations. The CBUAE did not identify the exchange house. It said it works to "ensure that all exchange houses, their owners and staff"......
Read more>
dun & bradstreet UAE
Abu Dhabi announces breakthrough in tapping geothermal energy
(Source: Zawya)
Abu Dhabi National Oil Co. (ADNOC) and National Central Cooling Company (Tabreed), on Monday announced a breakthrough in the first project in the gulf region to harness geothermal energy following the conclusion of testing on two geothermal wells at Masdar City in Abu Dhabi. The state-backed oil producer, which is also driving the country's decarbonisation push, said the wells produced hot water at temperatures exceeding 90 degrees Celsius and flow rates of approximately 100 liters per second (l/s). The hot water generated by the heat from the wells will now pass through an absorption cooling system to produce chilled water.......
Read more>
dun & bradstreet UAE
Dubai-based Shuaa Capital’s top investors explore sale
(source: Gulf News)
Shuaa Capital PSC’s main shareholders are in early-stage talks to sell down their stakes in the Dubai-based investment bank, offering potential buyers access to one of the Gulf region’s oldest financial institutions. As part of the plans, the bank’s Managing Director Jassim Alseddiqi - one of the top shareholders with about a 25 per cent stake - plans to pare down his holdings and step down to focus on a career in technology, research and academia. Other major holders are also in talks to sell down their stakes, according to people familiar with the matter. Shareholders including Alseddiqi, who collectively own more than 50 per cent......
Read more>
dun & bradstreet UAE
Commodity Update
(source: Nasdaq)
The weekly commodity update from Nasdaq
Read more>
dun & bradstreet UAE
Stock Market Update
(source: Mubasher)
Read more>
dun & bradstreet UAE
Do you want to grow your business faster?
(Source: CRIF - Dun & Bradstreet)
Unlock data & analytics with Hoovers! Boost sales & business growth with leading intelligence. Engage prospects, forge profitable relationships. Let Hoovers be your secret weapon!.......
Read more>
dun & bradstreet UAE
Unleash D&B Finance Analytics
(source: CRIF - Dun & Bradstreet)
Unleashing D&B Finance Analytics: Opportunities for Cost Reduction & Efficiency Improvement........
Read more>
Let us know what you think by writing to [email protected]
@Copyright 2020 - CRIF
This email was sent to *|EMAIL|*
why did I get this?    unsubscribe from this list    update subscription preferences
crif GULF DWC LLC operates snb logo in the U.A.E territory.