Asia Briefing’s Middle East Focused Regulatory and Operational Business Updates

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August 08, 2024

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Weekly business and foreign investment news roundup in Asia

by Asia Briefing and Dezan Shira & Associates.

MIDDLE EAST EDITION

Revolutionizing GCC Logistics: Impact of the Proposed Kuwait-Saudi Railway

As the GCC continues to invest in infrastructure and modernize its logistics networks, the Kuwait-Saudi Railway will play a central role in shaping the future of freight transport in the region.

Gulf Nations Continue to Push for Investments in AI Capabilities

Qatar has earmarked an extraordinary US$2.4 billion (QR8.75 billion) to enhance its AI capabilities and attract global tech talent. This initiative is a crucial component of Qatar’s broader strategy to establish a smart economy.

UAE FTA Network: Key Agreements in Place, Under Negotiation

The UAE is developing a comprehensive free trade agreement (FTA) framework that includes both bilateral and multilateral agreements and is partaking in negotiations to trade treaties as a member of the Gulf Cooperation Council (GCC).

Egypt’s Fiscal Performance in the 2023-24 Financial Year

In February 2024, the UAE, led by Abu Dhabi's sovereign wealth fund ADQ, committed US$35 billion in a historic FDI deal to invest in Ras El-Hekma, northwest of Cairo, marking the largest FDI in Egypt's history and signaling strong international confidence in its economic potential.

Accepted Transfer Pricing Methods in the UAE: Guidelines from the Federal Tax Authority

We discuss the main transfer pricing methods accepted by the UAE government under the Corporate Tax Law and aligned with OECD guidance.

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