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).

Forts de leurs précédents succès, les Trophées du salon international des inventions de Genève reviennent cette année. Une occasion unique pour les innovateurs de faire valoir leur audace, leur inventivité, et leurs avancées technologiques. Les Trophées de l’Innovation visent à récompenser les produits, services et/ou concepts innovants dans tous les secteurs et à valoriser, les exposants aux performances et atouts remarquables.

Pour la 44e édition, les pays Arabes étaient au rendez-vous. Des inventeurs y ont assisté notamment des pays arabes de Golfe comme l'Arabie Saoudite, le Koweït, les EAU, Oman, mais aussi l'Egypte et l'Algérie. En effet, les Etats arabes du Golfe et l'Egypte participent régulièrement à travers des institutions nationales pour la recherche. Ils reflètent ainsi le visage peu connu du monde arabe.

Cette année a été marquée par la contribution de plusieurs inventeurs venant de plusieurs pays Arabes tel que l'Arabie Saoudite, les Emirats Arabes Unis, le Qatar, l’Egypte, l’Oman et l’Algérie.

Inventions (para-)médicales

A titre d’exemple nous trouvons dans ce salon deux inventions remarquables du Dr. Amani Shafik Awad de la Faculté de pharmacie et de Sattam lbin Abdul Aziz University (Arabie Saoudite). Le premier a présenté son innovation pour traiter le leishmaniose, une maladie répandue au Proche-Orient, connue sous le nom de « boutons de Jéricho » à travers un champignon, la seconde invention consiste à utiliser les feuilles de basilic dans le traitement de la colite ulcéreuse.

L’inventrice Amina Meaad de l’Egypte, a pu attirer le coup de foudre avec des nombreuses inventions. Meaad marque une présence pour la deuxième fois consécutive, avec deux inventions. La première constitue une solution pour un problème environnemental, car elle utilise le son de riz, brulé auparavant dans la nature, pour fabriquer du savon contenant des antibiotiques pour combattre les champignons dans les cheveux, en plus de sa qualité pour nettoyer la peau. Cette invention a remporté la médaille d'or du salon de Genève. La deuxième invention est le shampooing avec des ingrédients naturels pour lutter contre la perte de cheveux, cette invention a gagné la médaille de bronze.

Par ailleurs, l'inventeur Saoudien Mohab Mohammed Hindi, un étudiant de la Faculté de médecine de l'Université King Abdul Aziz (Arabie Saoudite), a inventé un réveil pour les patients atteints de diabète, qui mesurent la proportion de sucre sans devoir recourir à la piqûre de la peau ou de prélever un échantillon de sang.

En faveur de la protection de l’environnement

Les inventions au rapport avec la protection de l’environnement ont été nombreuses. L’invention de Mustafa Sawi, de la fondation « les jeunes de Sharjah (Sharjah Youth) » (Emirats Arabes Unis), a été très remarquable puisqu’elle concerne la réduction des émissions de gaz polluants dans les centrales électriques. Cette invention a remporté la médaille d’or du salon. Tandis qu’un groupe d'étudiants de la Faculté de génie (de l'Université King Abdul Aziz, Arabie Saoudite), a présenté une invention qui rend l'ascenseur plus intelligent, ce qui permet d'économiser du temps et de l'énergie par l’inclusion d’un système de reconnaissance de la place vide disponible dans l'ascenseur pour l’entrée des personnes supplémentaires. L’ascenseur ne s’arrête donc que lorsqu’il y a de la place pour faire entrer les gens.

Par ailleurs, l'inventeur Mohamed Abdel Fattah, un inventeur égyptien, a présenté une invention d’une grande envergure, car c’est un réservoir énorme de carburant qui offre une solution aux problèmes environnementaux car en plus du système qui lui permet de stocker et déplacer d’énormes quantités de pétrole brut (stockage et mouvement), il est très résistant au feu.

L'étudiant égyptien Ahmad Ayyash Muhammad (18 ans) fait partie des jeunes inventeurs pour ce salon. Sa contribution très brillante, qui fait réfléchir, permet de produire cinq fois l’électricité nécessaire pour faire fonctionner les locomotives ! Comment-il est possible ? Cette invention nous donne l’impression qu’elle viole le principe de la conservation de l'énergie, et c’est bien possible, en créant des champs magnétiques sur la voie ferrée lors de passages de trains composés de plusieurs wagons. L’enjeu de cette invention est national pour l’Egypte car elle exige une infrastructure à l’échelle nationale. Cette invention a remporté la médaille d'or.

Prévention des fraudes et accidents

De l’environnement à la prévention de risque d’accident ou d’incendie. Plusieurs inventions qatariennes étaient au rendez-vous, parmi lesquels l'inventeur Khalifa Hitmi qui a contribué par son invention à réduire la congestion et le temps d'attente aux feux de circulation, elle possède également une application importante pour la sécurité, un système d'alerte est immédiatement déclenché en cas du non-respect de feu rouge de la part de l'un des utilisateurs, de sorte à prévenir des accidents dans de tels cas.

Cette année n’a pas seulement montré le poids des femmes, mais aussi les jeunes. Deux inventeurs égyptiens, Mohammed Jamal Shauman (19 ans) et Ahmed Mohammed Abdel Tawab (18 ans) ont pu démontrer qu’il est possible de réduire les accidents de la circulation et les dommages provoqués par ceci à travers une structure externe de la voiture très résistante aux chocs, à l'électricité et à la chaleur, alors que jusqu’à présent les solutions proposées par les ingénieurs réagissent depuis l’intérieur des véhicules. Cette invention a remporté la médaille d'argent et un prix du président de département de l'énergie nucléaire en Malaisie.

Une autre invention féminine a été sur le stand Saoudien pour une inventrice, Nora Ali, qui lui a vallu le prix des sapeurs-pompiers de Genève, car cette invention est au cœur de la prévention de risque d’incendie, la poudre intégrée dans les tuyaux en plastique enveloppant les fils électriques des bâtiments, se libère lors d’un court-circuit déclenchant un incendie à l'intérieur du tube, ce qui permet d’éteindre le feu avant qu’il ne se propage dans le bâtiment.

Pour prévenir la fraude dans le secteur bancaire, l'inventeur Mohsen Hosein Al Sheikh, peut faire des échos, puisqu’il s’est attaqué à la problématique de falsification des chèques bancaires par son imprimante intelligente et transportable, qui se connecte facilement sur un Smartphone ou une tablette, qui a la capacité de reconvertir les chiffres numérique en texte. Cette invention est prévue d’être disponible sur le marché au cours des trois prochains mois.

La participation féminine pour cette année était au rendez-vous, toujours à la Faculté de génie, de l'Université King Abdul Aziz (Arabie Saoudite), des étudiantes ont réussi une solution géniale pour alimenter les feux de circulation dans les endroits éloignés, une spécificité saoudienne, où c’est difficile d’établir des réseaux électriques, l’énergie est produite par l’utilisateur même lorsque sa voiture approche un point d’intersection afin d’éviter d’entrer en collision avec les autres utilisateurs. Les feux ne fonctionnent que pour quelques secondes !

Enfin une solution économe pour mieux construire grâce à l'invention de Tarek Salah Al-Din Mustafa de l’Egypte, qui a pu jouer sur la forme géométrique des briques. Avec sa forme courbée il est donc possible de construire des plafonds sans la nécessité d’utiliser du béton armé, réduisant ainsi le poids sur les bases, cette invention a reçu la médaille d'or du salon.

La Suisse au Salon

La Suisse était aussi au rendez-vous pour ce salon. Pas seulement par ses inventeurs, mais aussi par la présence d’un stand de l’institut fédéral de la propriété, bien placé à côté de celui de l’organisation mondiale de la propriété intellectuelle. Ces sont des interlocuteurs incontournables pour les inventeurs en Suisse. Sur le plan scientifique la Suisse a été bien représentée au salon avec plusieurs inventions tel que le concept d’une télévision 3D basé seulement sur l’emplacement de la télévision. Car en intégrant la télé derrière un cadre donne l’impression de regarder à travers la fenêtre. Puis il était très facile de remarquer l’innovation «Diesoil» de recyclage de plastique qui inverse le processus de fabrication produisant ainsi des dérivés de pétrole. On découvre donc sur le stand volontairement jonché d’objets en plastique, et également des flacons remplis des dérivés de pétrole, une preuve qu’il est possible de recycler les déchets plastiques. Comment? Par un système calqué sur le principe de la distillation, une machine retransforme le plastique en produits pétroliers (kérosène, diesel, paraffine, etc.). Selon Laurent Helfrich, responsable commercial, leur objectif est d’éliminer toutes les décharges sauvages.

De l'invention à l'industrialisation

Il n’y a aucun doute que la jeunesse arabe a montré qu'elle est en mesure de surprendre avec des idées innovatrices, et que les jeunes ne sont pas seulement un élément de la révolution politique et sociale, mais aussi scientifique. Il est évident que le monde Arabe a besoin de marquer une présence dans des plateformes dédiées à l’innovation, une étape essentielle pour ouvrir la porte à la créativité constructive de la jeunesse dans un environnement de plus en plus concurrentiel. Mais il faut se rappeler également que les contributions à l’innovation ne devraient pas se limiter à des activités festives et la délivrance des prix, car le monde Arabe devrait passer à la prochaine étape et favoriser l’entreprenariat, afin de traduire ces inventions à des projets industriels et commerciaux, pour répondre aux besoins réels de la société et construire une base technologique et industrielle. Les jeunes sont invités à prendre part aux responsabilités et oser à devenir des entrepreneurs.

Like its neighbours, Qatar’s economy is feeling the pinch of lower oil prices. Known as the richest country in the world per capita, the small Arab state is set to post its first fiscal deficit in 15 years. But Qatar is much better off to weather the tough times. Its non-oil sector is growing at a rapid pace and so is its high-income population. Qatari nationals as well as the majority of expats living in the country continue to enjoy gigantic spending power, giving the service sector a bigger market to invest in and a much needed demand boost.

Qatar outlook at a glance, 2015-2017

Note: Real GDP in constant 2004 prices.

Source: Qatar Economic Outlook 2015-2017, Ministry of Planning, June, 2015.

The Ministry of Development Planning and Statistics said in its 2015 annual report that “real economic growth, despite lower oil prices, is expected to remain strong on the back of vigour in the non-hydrocarbon economy that is set to carry through to 2016 and 2017.” The ministry also estimated a deficit of 4.9% of GDP and said government spending “continues to move on a lower trajectory than in the recent past”. However, it expects Qatar’s current account to remain in surplus throughout 2017. The good news is that the economy is likely to remain healthy for the short term at least. The International Monetary Fund estimates Qatar’s GDP to grow by 6.4% in 2016, and though this was taken down to around 4% between now and 2019 by Standard & Poor’s (S&P) Rating Services, experts say it should provide plenty of scope for the banking sector to grow

Despite lower hydrocarbon revenues, the government continues to invest heavily in a number of service-oriented industries, and remains committed to providing financial and logistical support to both local and foreign investors.

A variety of institutions heavily involved in Qatar’s diversification drive include Enterprise Qatar, the Qatar Foundation, the Supreme Council of Information and Communication Technology, Qatar Financial Centre and Qatar Development Bank.

Education, healthcare, the insurance and financial sectors as well as hospitality, property and construction are all bringing billions of dollars to the economy, with the World Cup acting as a magnet for investors from all corners of the globe. Switzerland, for example, which recently established a trade and investment promotion agency in Doha, has shown much eagerness to capitalise on an array of business opportunities Qatar has to offer. The Swiss agency known as OSEC, which changed its name to Switzerland Global Enterprise, signed a strategic deal with the Qatari Businessmen’s Association, an entity that enjoys great influence in the country’s business circles.

The Peninsula, a Qatari daily newspaper, reported recently that a free trade agreement to further boost trade and investment is expected in the near future, as the volume of trade between the two countries almost doubled for the period between 2010 and 2014 (from 558 Million SFr to 872 Million SFr).

On top of the government’s agenda for now is to make it this growth sustainable and available for future generations, while optimising the efficiency of its markets and diversifying the economy.

Swiss main exports/imports with Qatar 1985-2014 (Million CHF)

(In order to see the detailed data on exports and imports by commodity please click here)

“Mobilising and using the Qatari resources and abilities together with the Swiss know-how, experience and technology will, without doubt, boost the socio-economic development of the country,” said H.E. Sultan Rashid Al Khater, Under Secretary at the Ministry of Business and Trade. Growing tourist numbers as the wealthy Arab state becomes a much desired travel destination and plans to host the World Cup in 2022 as well as the less known World Athletic Championship in 2019 will require Qatar to provide some 60,000 hotel rooms. Currently, it only has around one fifth of that.

Education

To sustain and continue this growth, Qatar will need to develop a well-educated and highly-skilled workforce and to do that it needs a world class education. According to a recent report, the education sector in the country is set for rapid transformation in the coming years, with between eight to 12 new schools expected to be required every year in the run up to 2022. Demand for schools has increased at a compound growth rate of 6% primarily on the basis of population growth. Government schools comprise 48% of all schools in the country. However, the fastest growing segment is international schools, which as of the academic year 2013 made up 35% of the total number of schools. A persistent school shortage in Doha makes it among the most attractive markets for school developers globally. World renowned education provider, GEMS, which owns and operates over 70 schools in 12 countries, including Switzerland, is set to open a base in a new purpose-built campus in Doha. GEMS is one among many private English curriculum education companies operating in the region.

Finance

Data from Qatar National Bank shows that financial services are making the greatest contribution to the country’s non-hydrocarbon growth, accounting for almost a third of the total of 10.6 percent in 2014. It achieved similar growth in 2015, well ahead of other sectors such as construction, hospitality and manufacturing. From 2010 to 2014, banks in Qatar saw their assets surge by an average annual growth rate of 15.3%, according to Qatar National Bank, the country’s biggest lender. The government, however, will need to continue to invest across the board, from construction and property, to healthcare, education and tourism, to sustain economic growth and encourage foreign investment. Another important avenue for diversifying its income, is investing petrodollars in foreign assets, a strategy that has worked well in the past.

Construction

Qatar’s construction industry is faring much better than its neighbours’ like Saudi Arabia and the UAE, who have suffered from severe project delays, massive job cuts and project cancelations. A recent report found that confidence in the Qatari market among leading construction companies at the end of last year was 19 percentage points higher than the year before. One of its famous construction projects is the $45 billion Lusail City, which has attracted volumes of sizeable investments from all over the world. Once completed in 2017, it is expected to house 200,000 residents as well as scores of hospitality, entertainment and retail developments. Perhaps another reason why construction activities in Qatar maintain healthy growth levels is well-performing property market. In contrast to Dubai, where buying a property would probably cost you half the price of what you’d pay a year ago, prices in Qatar have stayed steady, while demand has held up and in some cases increased.

Meanwhile, developers have been quick to respond to a market hungry for more retail options. A spike in demand has been largely spurred by a fast expanding population, which hit 2.46 million in November last year, and the consistent development of Doha’s residential and transportation infrastructure. The country’s population centre has 13 malls currently in operation and it is looking to more than double that by 2019, according to a recent report by the Oxford business Group. Mall of Qatar, one of the largest retail centres currently under construction, accounts for a $5.4 billion, the size of investment that would be needed to build a small industrial plant. But this is understandable given Qataris’ famous shopaholic inclinations. People’s love for brands have led luxury retailers to give the market a vote of full confidence when it comes to investing in an outlet or setting up local presence. “Qatar is the kind of market that can sustain the high-end segments,” says Sean Kelly, project developer at United Developers, which has a significant portfolio of investments in the country.

Qatar took the world by storm in 2010 as it became the wealthiest nation per capita, while its economy grew by an unprecedented 19.4%. Although its economy remains largely dominated by the public sector, the small Gulf Arab state is embracing more privatisation of state-controlled enterprises. It also provides significant support to more locally owned Small and Medium Enterprises (SMEs) and encourages them to get involved in heavy and light industries, international partnerships and trade.

As one investment expert in the US said, “Qatar is clearly geared more to the institutional investor” or groups that pull their money like retirement or hedge funds. The country has made significant strides in easing its laws on foreign investment and simplifying business ownership in order to incentivise and attract foreign capital. For example, the number of restrictions in non-citizens owning land was taken down significantly with the view to spur real estate investment. Qatar also allows up to 100% of foreign ownership in health and power projects — with approval from the government, as well as agriculture and manufacturing.

Healthcare

Timely diagnosing and treatment of diseases across the MENA region is extremely problematic, with one mind bogging statistics pointing to as much as 40% of people aged between 21 and 79 who suffer from diabetes not being diagnosed on time and in some cases not being diagnosed at all. Many would agree that this is mainly due to a lack of expertise from across the countries, which is increasingly leading governments to seek qualified experts from abroad.

Qatar’s healthcare and insurance sectors would also require significant foreign expertise to keep up with the country’s rapid population growth, which according to the Ministry of Development Planning and Statistics, has more than tripled since 2004. Meanwhile, the rising incidence of lifestyle-related diseases means the state represents the fastest-growing health care market in the GCC. The Oxford Business Group estimates the sector to be worth some $9 billion by 2018, about double the $4.6 billion seen in 2013, with the inpatient market pegged to hit $2.5 billion and the outpatient market expected to reach $6.6 billion. As the government looks to build one of the world’s best healthcare systems, scores of new state of the art hospitals will be required and more robust and efficient healthcare infrastructure will need to be built. In the 2014/15 budget, allocations to the sector increased by 12% year-on-year to 15.7 billion Qatari riyals ($4.3 billion), with the number of health care facilities set to more than double by 2022. Pharmaceutical giants have seen an increased amount of sales off the back of a regional healthcare market that is projected to grow to almost $70 billion in 2018, according to estimates from Alpen Capital. A significant contributor to this health expansion has been the introduction of mandatory health insurance in some of the region’s largest markets. Along with Saudi Arabia and the UAE, Qatar has also made health insurance compulsory for expats, with the rest of the GCC expected to follow suit and thus give rise to a fast expanding insurance market.

Qatar is aspiring to “sustainable economic prosperity” but the truth is it continues to grapple with setbacks ranging from a lack of entrepreneurial spirit among its own people and falling productivity levels across the private and public sectors alike to limitations due to the size of its own economy and damaging external forces like exchange rate appreciation, which makes its exports more costly and less competitive. Qatar’s domestic economy is too small to attract significant foreign investment focused on internal markets, proving futile as a training ground for local companies hoping to expand regionally or globally. In addition, due to its geographic location, Qatar is one of the most isolated states in the GCC which some believe is significantly hampering intra-regional trade and limiting investment.

For now, diversifying its economy and exploring new channels to bring in money to the country remains its most viable option.

Investing in downstream industries such as petrochemicals and metallurgy and developing their subsectors like fertilizers and even chemicals will play a crucial role in decarbonizing Qatar’s economy. On top of that, it would create more jobs for the youth and take advantage of cheap feedstock. But this is easier said than done. In order to fully realise its future ambitions, Qatar will first have to make up for the shortages of local labour. Historically, Western expats have been filling the gap. A more long-term solution would be to better engage its own people and encourage home-grown entrepreneurship. The government is warming up to the idea and as part of Qatar’s National Vision it pledges to provide support and training to the private sector which it sees playing “an essential role in achieving sustainable development”, and raise productivity levels across the entire economy. At the same time, it admits that more needs to be done to improve competitiveness and attract investment in what it calls “a dynamic and increasingly borderless international economy.”

But Qatar is not alone in its push for economic diversification. Many of the Gulf Arab states have the exact same objectives and have for years been pumping huge amounts of money into petrochemicals, air transport, logistics, real estate, knowledge services and finance, among other sectors. If Qatar wants to relive the glory of enviable growth and economic momentum, it needs to address head on the challenges at stake. From low demand for skills amid rising labour surplus and limited capabilities of discovery and innovation, to a weak private sector and low levels of entrepreneurship, the obstacles for growth – at least for now – continue to abound.

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.  

Since the beginning of the year, travelling with Qatar Airways from Genève Aéroport is even easier and more practical: in combination with the online registration, passengers can now print their baggage tag at home, at the same time as their boarding pass.

This service was already available for SWISS, Brussels Airlines and Iberia airlines. It complements the offer of services and comfort departing from Geneva.

Passengers have several possibilities to check their baggage at Genève Aéroport, allowing them to organise their departure depending on their preferences and needs.

Source: Genève Aireport

Starting on July 1st, 2016, Qatar Airways will deploy a Boeing 787-8 «Dreamliner» between Doha and Geneva.

This aircraft will replace the previously operated Airbus A320 on the daily rotation between its base at Hamad International Airport and Geneva Airport.
The 787-8 has a total capacity of 254 seats, in 2-class configuration: 22 passengers in Business class and 232 in Economy.

For Geneva Airport, this route is first regular one with the long-awaited B787, the new benchmark in aeronautical technology.

The timetable remains almost unchanged with respect to the current situation, offering an evening flight eastbound and a morning service westbound. The Geneva departure takes place at 18:00 with a night landing in Doha at 1:10. On the way back, the plane leaves Qatar at 7:25 to reach Switzerland at 13:30 local time, on a daily basis.

The national carrier of Qatar operates to Geneva since 2007. Qatar Airways is member of the Oneworld alliance, already represented in Genva by such airlines as BA, Iberia, Finnair, etc. Doha, the capital of Qatar, is also a major hub for connections to Asia and Australia (new flights to Sydney since March 1st, 2016).

Source: Genève Aireport

(Arabianbusiness) Qatar’s government has allocated more than QR 3 billion ($825m) for small and medium size enterprises, according to arabianbusiness web site.

Prime Minister and Interior Minister HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani said that the SME sector in Qatar enjoyed the support of Emir HH Sheikh Tamim bin Hamad Al Thani, adding that various governmental institutions worked on amending the necessary legislation, enacting supporting laws and providing necessary information and services, or establishing economic zones and finding financing solutions.

HH Prime Minister was speaking at the first Government Procurement and Contracting Conference & Exhibition (Moushtarayat), a three-day conference and exhibition organised by the Ministry of Finance and Qatar Development Bank (QDB) at Qatar National Convention Centre, 8^th of March.

HE Sheikh Abdullah bin Saud Al Thani, who is also the chairman of the Board of Directors of QDB, also said that around 25 governmental and quasi-governmental entities were participating in the exhibition that should provide more than 450 real opportunities for the SME sector with a total value exceeding QR3 billion.

QDB launched the single window to make all information available to SMEs under one roof, in addition to providing direct financing to SMEs in excess of  QR4.3 billion – its ‘Al Dhameen’ programme invested more than QR800 million and ‘Tasdeer’ program more than QR600m.