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United Arab Emirates

Population 9.1 million – 2015

GDP 2015 – USD370 billion (up 3.2% on previous year)

Projected 2016 GDP growth – 2%

Size of non-oil economy 2015 – 66% (IMF)

Proportion of local nationals in private sector – 1% (LSE estimates 2014)

Saudi Arabia

Population 31.5 million – 2015

GDP 2015 – USD646 billion (up 3.5% on previous year)

Projected 2016 GDP growth – 1.86%

Size of non-oil economy 2014 – 57% (IMF )

Proportion of local nationals in private sector 2016 – 16% (Oxford Strategic Consulting)

Qatar

Population 2.2 million – 2015

GDP 2015 – USD166 billion (up 2.9% on previous year)

Projected 2016 GDP growth – 3.3%

Size of non-oil economy 2015 – 49% (IMF)

Proportion of local nationals in private sector 2014 – 5% – (Qatar Statistics Authority)

Bahrain

Population 1.3 million – 2015

GDP 2015 – USD32 billion (up 2.9% on previous year)

Projected 2016 GDP growth – 2.2%

Size of non-oil economy 2015 – 76% (IMF)

Proportion of local nationals in private sector 2013 – 18% (Bahrain’s Labour Market Regulatory Authority).…

International investment bank JPMorgan Chase & Co faces a mammoth USD264 million in fines in the United States for operating an illegal Asian jobs-for-business referral hiring scheme.

The bank will pay the US Securities & Exchange Commission (SEC) more than USD130 million for violation of the Foreign Corrupt Practices Act (FCPA) over charges that staff secured business from clients and bribed government officials in the Asia-Pacific region by giving jobs and internships to their relatives and friends.…

Central Bank theft – casino repercussions: the Philippines

The theft in February of $101m from the Bangladesh Bank account at the Federal Reserve Bank New York in an audacious hack of SWIFT codes saw funds flow to casino accounts at Rizal Commercial Banking Corporation in the Philippines.…

A senior Canada metal industry association has called on its government to continue ratifying the Trans-Pacific Partnership (TPP), despite US President-elect Donald Trump’s commitment to withdraw the US from the trade deal on his first day of office.

“We definitely still support Canada moving forward with the TPP, even without the US.…

THE EUROPEAN Commission’s pledge to put meat and livestock produce second in its 2017 European Union (EU) agri-food promotion campaign (making up 15% of the programmes) has been welcomed by the industry. The announcement came during the release of a EUR133 million marketing budget for EU agri-food producers for 2017, up from EUR111 million in 2016.…

Voters in the US state of Massachusetts have given their overwhelming approval to a statewide ban on the sale of pork products or veal from animals that cannot turn around or stretch their limbs within their cages.

The new rules, which passed muster by 78% to 22%, are set to be phased in, before going into full effect in 2022.…

SINGAPORE, Japan and South Korea have stopped poultry imports from Denmark after an Avian Influenza virus (H5N8) outbreak affected the country’s entire poultry sector. This is the first outbreak of the virus in Denmark since 2006, the Danish Veterinary and Food Administration, (Fødevarestyrelsen – FVST) told GlobalMeatNews.…

Vietnam’ clothing and textile industry has been assessing the impact of losing an anticipated huge garment export boost under the Trans-Pacific Partnership (TPP) now that US president-elect Donald Trump has promised to sign an executive order pulling out of the 12-nation trade deal.…

THE EUROPEAN Chemicals Agency (ECHA) is investigating if European Union (EU)-wide controls are needed to protect consumers against substances used in tattoo inks and permanent make-up (PMU) – with one solution expanding the scope of the EU cosmetics directive.

While the printing ink industry has suffered a recession, the tattoo and PMU ink sectors are booming in the wake of a huge increase in purchases of tattoos EU-wide.…

IRAN’S rose water export sector is facing the potential for rapid expansion now that the country can trade freely globally after the bulk of international banking and economic sanctions imposed over the Iranian nuclear programme were lifted this January (2016).…