Economic News

UAE's non-oil sector achieves positive growth

The United Arab Emirates, which is the world's sixth-largest producer of crude oil, expects strong growth this year after its oil-rich economy expanded by 4.6 percent in 2014.

Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum pointed out that the UAE would "adhere to its long-term strategy to diversify its national economy" and noted that the non-oil sector grew 8.1 percent in 2014 – contributing to 68.8 per cent of the economy. "We have put in place all the necessary plans to take that contribution to as high as 80 percent in 2021," he said.

This would be done "through intensive investment in the industrial and tourism sectors, air and maritime transport, import and re-export, as well as supporting a range of projects and initiatives based on the knowledge economy," he added.

Source: www.arabnews.com

Morocco to invest $4.6 billion on gas infrastructure

Morocco announced plans to continue its push for energy diversification with an effort to increase liquefied natural gas imports over the next five years, including a new terminal in the town of Jorf Lasfar worth $4.6 billion. As expressed by Energy Minister Abdelkader Amara, the project is now attracting viable attention from foreign investors.

Morocco’s LNG plans would help reach its diversification goals by 2020. According to The National, the country hopes to provide 42 percent of its energy needs with renewable energy options by 2020, with the remaining coming from fewer imports and a burgeoning domestic production sector.

Source: www.forbes.com

Artisan Crafted Spanish Sandals by KINAMANIA selling in Dubai Mall at Boutique Level One

Following the Belgian economic Mission in Dubai last April, KARSAM’S latest division, KINAMANIA is now selling in Dubai Mall at Level Shoe District store.

The store, owned and operated by luxury retail firm Chalhoub Group is the largest shoe store in the world; and was awarded Retailer of the Year 2014 by Footwear News in New York.

KINAMANIA rooted in craftsmanship and cultural heritage that designs and manufactures select artisan-made sandals.

Website: www.kinasandals.com

AWEX: Saudi Build 2015

In the framework of its programme of action, AWEX (Agence Wallonne à l’Exportation et aux Investissements Etrangers) announces the Saudi Build 2015 Exhibition, which is the largest business to business construction fair organized in the Kingdom of Saudi Arabia from 26 to 29 October 2015.

Saudi Build 2015, the 27th International Construction Technology and Building Materials Exhibition, provides contractors, real estate developers and building owners with a full range of building solutions.

Trade visitors to Saudi Build 2015 will be able to evaluate the latest offerings in Building Materials & Equipment, Architectural Finishing Products, Stone, Marble and Granite Products, Construction Tools and Technology, Engineering Services, Infrastructure Materials, Security & Safety Systems, among others. They will also establish new representation agreements, expand their existing business and source their project needs, all under one prime location. Find out more.

Contact person : Mr. Roland VAN DRIESSCHE (This email address is being protected from spambots. You need JavaScript enabled to view it.)