Middle East Business Review – 10 Apr

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A look at today’s important financial news and business updates from the Middle East region:

Dubai eGovernment launches Supply2Dubai official procurement portal

Dubai eGovernment, the Department in charge of supervising eTransformation in Dubai, has launched Supply2Dubai, the official Procurement Portal of Dubai Government. The website www.supply2dubai.gov.ae is powered by Tejari and acts as the single online destination for all suppliers engaged for business with the Government. Click here to read more…

Sheikh Mohammed announces $272m UAE ‘smart learning’ initiative

UAE’s Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum on Tuesday launched a AED1bn ($272m) initiative to improve technology in the country’s schools. Click here to read more…

UAE break-even oil price increase to dent budget surplus

According to a report released by Emirates NBD, the UAE’s break-even price for oil has risen the highest in the GCC to $107 per barrel. Click here to read in detail…

UAE to benefit from Saudi financial markets opening to foreign investors

The chief executive officer of the UAE’s Securities and Commodities Authority (SCA) said Saudi Arabia’s long awaited move to open up its financial markets to foreign investors will bring rewards to its Emirati counterparts. Click here to read more…

GCC Customs Union committee set up to spur regional trade

Dr Abdullatif Al Zayani, secretary general of the GCC, said the regional body has formed a committee that will manage the setting up of a customs union which could make the flow of goods easier between the six member states. The UAE’s official WAM news agency quoted him as saying that the final report on the establishing of a customs union would be submitted next month with the first meeting set to take place in June. Click here to read more…

Iran-Spain oil supply disrupted since end of Feb

Spanish foreign ministry announced on Tuesday Madrid has stopped importing Iranian oil “at the end of February” in lieu of the European Union embargo. Click here to read more…

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