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With the fall in oil prices underlining the dangers of an over reliance on hydrocarbons revenues, Qatar has continued to forge ahead with its economic diversification drive in 2016. Non-hydrocarbons growth now outstrips hydrocarbons growth, with several big-ticket construction projects, an increasingly dynamic financial services sector and a growing reputation as a tourist destination all fuelling non-oil expansion.

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The Jordanian authorities have launched a new over-the-counter (OTC) exchange as part of a series of initiatives to boost the competitiveness of the kingdom’s capital markets.

Increased investment – from sharia-compliant accommodation to consumer goods – is helping Dubai position itself as a key player in the rapidly expanding global halal travel industry.

RAVI SHANKAR: Indonesia's upstream segment manufactures significant quantities of two raw materials: polyester and rayon. The two major fibres consumed in the textile industry are polyester and cotton, the latter of which is not currently being produced in Indonesia. Polyester production began in 1980, so we have a sizeable industry in Indonesia, but in the last 20 years capacity has mostly been developed in larger countries such as India and China. 

Weaker commodity prices and lower government revenues have prompted Papua New Guinea’s current administration to revise its growth forecast and release a supplementary budget in late August.

While falling property prices in Dubai have reduced Sharjah’s real estate competitiveness over the last year, a spate of large-scale, mixed-use developments and improvements to transport infrastructure are spurring a more positive market outlook.