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Jordan taps $5 billion Gulf fund to ease economic woes

By Suleiman Al-Khalidi / 28 Feb 2013

Jordan has begun to tap $5 billion in grants from oil-rich Gulf states, hoping infrastructure spending will help alleviate the economic impact of the wave of Arab political unrest.

Planning and International Cooperation Minister Jafar Hassansaid more than $100 million had so far been spent from the fund, whose creation was decided by a summit of the Gulf Co-operation Council (GCC) in December 2011 to help its regional ally.


Abu Dhabi sets aside US$90bn for major projects

By Edward Attwood / 26 Feb 2013 

Abu Dhabi has announced that it will spend US$90bn over the next five years on social infrastructure.

In a statement issued by the Executive Council, the emirate said that a total of 12,500 housing units are being built via nine major projects. In addition, 34 schools and 10 kindergartens will also be built.

Other infrastructure work currently being carried out in Abu Dhabi includes the Strategic Tunnel project and the 328-km Mafraq-Ghuweifat road connection. 


Saudi hospitality sector seen to reach $18.1 billion by 2016

Source : / 19 Feb 2013

A rise in the number of pilgrims visiting Saudi Arabia for Haj and Umrah, are boosting domestic tourism growth, with Saudi residents making 22.5 million overnight trips per annum. Tourism receipts for Hajj and Umrah currently account for around 3 percent of GDP and, according to tourism officials, the country gained a reported $16.5 billion from tourism in 2012, representing a 10 percent increase on the previous year.


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