According to the web site of the Swiss Ministry of Foreign Affaires, OECD’s Development Assistance Committee invited Switzerland to host the Arab-DAC Dialogue on  development in 2017 in recognition of the Swiss Agency for Development’s engagement with Arab donors.

Arabianbusiness

The governments from the six-nation Gulf Cooperation Council (GCC) are likely to lead the debt issuance market in 2017, favouring conventional bonds over sukuk (Islamic bonds), it has been reported.

In 2016, governments scrambled to cover budget deficits due to low oil prices, turning to conventional debt - a shift from the traditional pattern in which sukuk and conventional bonds had roughly equal shares of the region's international bond issuance.

In October last year, Saudi Arabia raised $17.5 billion through the conventional bonds, overtaking Qatar’s $9bn sovereign bonds issued in May.

Saudi Arabia has already given hints on a new bond issuance this year, while Bahrain and Kuwait expected to hit the market as well.

Junaid Ansari, Assistant Vice President, Kamco reportedly said the prospects for region’s bond issuances in 2017 appeared bright based on further funding requirement in the region by sovereigns and corporates.

A recent report by Moody's put Gulf governments rising $1.1bn, or 5 percent of their total debt issuance through sukuk in the first six months of 2016.

Standard & Poor’s estimated GCC corporate and project-related sukuk issuance totaled $2.5bn in the first eight months 2016, up marginally from $2.3bn a year ago.

GCC states said to drive debt issuance market in 2017 2017, Arabian Business.
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ايمن ابو الخير

هل نحن في مرحلة اجتياز الاقتصادي المهيمن القائم على أساس المصانع الكبيرة والشركات متعددة الجنسيات إلى عالم يقوم على حرية الاختيار، الذي سيتمكن فيه الكيانات الصغيرة من المنافسة مع الشركات الكبيرة،وبالتالي ستساهم في تشكيل اقتصاد المستقبل؟ هل نحن فعلا بصدد عبور الاقتصاد "التناظري" الحقيقي الى الاقتصاد الافتراضي، ام ان الانتقال سيكون من الاقتصاد الافتراضي الى الاقتصاد الحقيقي؟

By Ayman Abualkhair

Are we in a stage of passing the dominant economic age, based on large factories and multinational companies, to a world predicated on freedom of choice, in which small entities would have the potential to compete with large companies, and hence shape the future economy? Are we crossing the age of a real economy to a virtual one, or is it moreover transitioning from a virtual economy to a real economy?

مجلة الشرق الاوسط للأعمال - ميدل ايست بزنس

هي ليست مجرد شجرة، يُستفاد من كل اجزاءها، تُغني زارعها، تشفي آكلها، وتحمي الأرض من تحتها وترفع اعمدة الحضارات فوقها... انها شجرة النخيل وثمارها من الرطب والتمر. جاء في القرآن الكريم: 

﴿وَهُوَ الَّذِي أَنشَأَ جَنَّاتٍ مَّعْرُوشَاتٍ وَغَيْرَ مَعْرُوشَاتٍ وَالنَّخْلَ وَالزَّرْعَ مُخْتَلِفًا أُكُلُهُ وَالزَّيْتُونَ وَالرُّمَّانَ مُتَشَابِهًا وَغَيْرَ مُتَشَابِهٍ كُلُوا مِن ثَمَرِهِ إِذَا أَثْمَرَ وَآتُوا حَقَّهُ يَوْمَ حَصَادِهِ وَلَا تُسْرِفُوا إِنَّهُ لَا يُحِبُّ الْمُسْرِفِينَ﴾(الأنعام141).

Interviewé par Swiss Arab Entrepreneurs (SAE), David Taji-Farouki, président du jury du Salon des Inventions de Genève, un amoureux des tableaux et objets artistiques, ce qui fait de son bureau un véritable mini musée, nous parle avec patience du Salon des inventions de Genève – dont la 44e édition a clos ses portes dimanche 17 avril 2016 sur un bilan de 66'000 visiteurs, et plus de 600 exposants présentant près de 1000 objets innovants – qui est le plus grand et le plus crédible selon Taji-Farouki. Chaque année il accueille plus de 50 pays, soit entre 700 et 800 inventions.

Selon Taji-Farouki, la participation au salon est ouverte à toute personne avec un brevet, elle ne peut présenter l’invention qu’une seule fois, à moins qu’il y ait un changement majeur. Le salon de Genève dispose des délégués dans les pays qui participent au salon. Quant à la présence des inventeurs en provenance des pays Arabes, selon Taji-Farouki cette année, il y a eu presque 30 participants, la majorité sont des Saoudiens, une participation plutôt maigre comparée aux années précédentes avec un nombre de participant qui frôlait un record entre 50 et 100 inventeurs rien que de l’Arabie Saoudite.

Sans doute, le premier obstacle pour participer au salon de Genève est le financement. Car réserver un stand au Salon des Inventions de Genève, engendre un coût entre 2000 et 2500 francs suisses, s’ajoutant à cela les frais du voyage et le séjour. D’ailleurs le Salon de Genève est un salon d’affaires qui favorise les rencontres entre les inventeurs et les investisseurs. La plus part des participants, en provenance des pays en développement, reçoivent le soutien logistique et financier des instituts scientifiques ou des ministères de l’éducation de leurs pays ou encore des organisations caritatives. Tandis qu’en Europe il n’est pas rare que les participants prennent en charge les frais de participation à ce genre d’évènements.

Taji-Farouki nous parle de son initiative de fonder en 2006 le Salon International de l’Inventions au Moyen-Orient (International Invention faire in the Middle East - IIFME) en collaboration avec M. Eyad Al Kharafi, Président d'honneur du «Kuwait Science Club» à l’époque.. Alors que pour le Salon de Genève la sélection des inventions se fait par un comité d’évaluation, « le juré », composé de 85 experts dans tous les domaines, sans plafonner le nombre des participants, la particularité du salon IIFME réside dans la participation quasiment gratuite, car il faut juste s’acquitter des frais d’inscription qui s’élèvent à 500 dollars. Mais le nombre des participants est limité à 150-180, et cela pour une bonne raison, car les participants font le concours pour accrocher des prix pour un budget total de 50 mille dollars, le premier prix s’élevant à 15 mille dollars. IIFME est ainsi le seul salon dans le monde à octroyer des prix monétaires aux inventeurs. Quant à la concurrence entre les deux salons ? pas de panique, car Genève tient le patronage du salon IIFME.

S’agissant du risque de l’espionnage industriel, pour y participer, il faut avoir un brevet pour éviter ce genre des problèmes. Mais attention au laps du temps car les brevets doivent être renouvelés, faute de quoi ils n’auront aucune validité.

Pour terminer, vis-à-vis de la commercialisation des inventions, qui est certes l’objectif final des exposants, Taji-Farouki nous donne un exemple d’un roumain qui est devenu riche suite à l’exposition de son invention au Salon de Genève, tout en rappelant qu’il y ait beaucoup d’exemples de produits dans notre vie quotidienne qui ne sont à la base qu’une invention présentée lors du Salon des Inventions de Genève, à titre d’exemple les brassards de sauvetage pour les enfants, le système de fermeture pour les chaussures. Le salon de Genève 2017 est encore friand de nombreuses inventions à venir. Mais pour les moins patients, la chance est toujours ouverte pour le Salon à Kuweit en novembre prochain.

By Soukaina Rachidi

According to recent forecasts from the International Monetary Fund, the GDP of the six oil-reliant members of the Gulf Cooperation Council (GCC), Qatar, Oman, Kuwait, U.A.E, Bahrain and Saudi Arabia are projected to slow to 2.7% in 2016, down from 3.2% in 2015.  The main cause for this slowed growth is the historically low oil prices, which have weakened the fiscal balances of Gulf’ oil-exporters and resulted in unprecedented budget deficits for the first time in 20 years.

With increased oil yields from Russia, Africa, the Caspian Sea and the re-introduction of Iran into the global oil market, the GCC has had to deal with an increasing number of competitors. However, this increase isn’t the only challenge facing the GCC. The growing interest in renewable energy has also resulted in a steady decline in the demand for oil. However, while oil prices are unlikely to rise anytime soon, The GCC’s substantial sovereign wealth funds and foreign reserves are sure to protect it from any economic shocks in the foreseeable future.

Marie Owens Thomsen, Chief Economist at Indosuez Wealth Management, believes that low oil prices are presenting the GCC with a unique opportunity to introduce structural reforms and fiscal policies that will diversify its economies, increase investment and create more sustainable business opportunities for the region. Here are three new emerging industries that investors should consider in the GCC.

1. Halal Lifestyle Industry

A recent report published by the Economist Intelligence Unit predicted that the Gulf’s Halal food imports are projected to increase to 53.1 billion dollars by 2020 and by the end of the decade, the UAE’s annual Halal food imports alone are expected to reach an estimated 8.4 billion dollars. While the GCC has lagged in developing the Islamic economy in the past, these projections are changing the landscape of the region’s economy. The UAE is currently leading the charge, as it primes Dubai to become the future hub of Islamic banking, Halal food and lifestyle industries.

By leading the world in the standardization of halal accreditation and certification, Dubai hopes to attract new industry-specific manufacturing and services to the region. In addition to that, the UAE is also targeting the halal tourism market, which represents 11.6% of global tourism expenditure and is projected to be worth 238 billion dollars by 2019. With the rapidly growing global Muslim population and an emerging middle class, the GCC has the potential to generate great revenue serving the needs of this growing market segment.

2. Aviation Industry

The lack of other efficient modes of transportation in the GCC has played a big role in fueling the demand for better airlines, airports and aviation services in the region. According to the International Air Transport Association (IATA), the Middle East is anticipated to be one of the fastest growing regions in the world in terms of passenger traffic until at least 2034, with an annual growth rate of 4.6% on average. Over the past couple of years, the GCC has implemented various progressive aviation policies to increase transparency and promote competitiveness in the sector to encourage further growth.

The fact that roughly 80% of the world's population lives within an eight-hour flight of the GCC has also presented a great advantage to the region’s aviation sector. While airlines like Qatar Airways, Etihad and Emirates lead the market in long-haul flights, smaller low-cost carriers like FlyDubai and Air Arabia are filling the gap in the short-haul market. The GCC’s clear geographic advantage, the rise in tourism, growing populations and the ready access to capital, fuel and space make the Gulf’s aviation industry a strong investment opportunity for investors seeking to capitalize on the privatization of airports and existing gaps in the domestic travel market.

3. Entrepreneurship Industry

While political turmoil and lower oil prices have adversely impacted many sectors in the region, the GCC’s start-up ecosystem continues to flourish. In fact, in 2015, the Dubai Department of Economic Development issued an estimated 22,025 trade licenses, which is almost double the number issued in 2009. Despite the additional regulatory challenges that entrepreneurs face in the GCC, such as restrictive visa regulations or the lack of bankruptcy laws, the region still remains an attractive hub for startups founders.  Dubai Department of Economic Development has risen steadily during the past eight years, after a dip in 2009, when the global financial crisis hit the region. Last year, Dubai DED issued 22,025 trade licences, up from 11,743 in 2009.business category.The number of trade licences issued by Dubai Department of Economic Development has risen steadily during the past eight years, after a dip in 2009, when the global financial crisis hit the region. Last year, Dubai DED issued 22,025 trade licences, up from 11,743 in 2009.

According to Dany Farha, the Chief Executive of Dubai-based Beco ­Capital, the GCC’s tech startup sector has grown ten-fold in the past four years. The growth of the regional venture capital ecosystem and the falling demand for office space and the willingness of suppliers to negotiate prices has created the “perfect storm” for small businesses to grow and reduce overhead costs. Furthermore, the privatization of various public services across the GCC, has created a unique opportunity for investors to diversify their portfolios and help entrepreneurs provide more efficient and cost-effective services for GCC governments’ and consumers.  

The CEO of the Kuwait National Petroleum, Mohammed Al-Mutairi, said in an interview with the Arabian TV "Al-Arabiya" that the company will go forward in its giant projects, mainly the project to construct Zour refinery at a cost of nearly 5 billion dinars, or about $ 16 billion, this project will be financed by the State of Kuwait only.