Zawya Express

Cheaper medicine?: New generic drug rules in Abu Dhabi will boost market, but wider integration requires public awareness - analyst

A recent decision in Abu Dhabi aimed at increasing demand for generic medicine - drugs that use formulas similar to branded drugs, but sold at cheaper prices - needs time to gain public acceptance to achieve the positive impact it is expected to have on users and insurance companies, an analyst has said.

The Abu Dhabi-based Department of Health announced on July 31 that “a new mechanism to mandate dispensing of generic medicines… for patients as prescribed by their doctors and are covered by Health Insurance” would be introduced in a post on its website.

Lack of confidence: Declining value of Turkish lira presents challenges for country's banks

Turkey’s precarious economic position is putting significant strain on its banking sector, which is facing a negative outlook for the second half of 2018 and early 2019, despite an improvement in performance in recent years, analysts say.

Running at different speeds: UAE and Saudi witness non-oil growth slowdown in July, Egypt witnesses pickup

The UAE's non-oil economy witnessed slowing growth in July, according to new data.

The Emirates NBD UAE Purchasing Managers' index dropped to 55.8 in July, down from 57.1 in June, which was the slowest rate of growth for three months.

Non-oil growth also slowed in Saudi Arabia, but improved in Egypt.

Opinion: Bitcoin slump, Islamic finance, Trump's tariffs war, Bahrain outlook and China's steel

A roundup of some of the commentary from this week's Zawya Opinion section.

"Is Trump truly winning the trade war? In my opinion, a large portion of the tariffs will be paid by U.S. consumers."

MENA investment banking fees down for the third year in a row

The total value of investment banking fees earned in the Middle East and North Africa (MENA) so far this year has decreased by 17% year-on-year, according to data from Thomson Reuters Deals Intelligence.

When it comes to individual banks, Standard Chartered plc topped the MENA rankings so far this year.

Jobs & salaries: VAT, disputes and oil prices among the big factors in Q2 - report

While the number of job vacancies advertised for professionals in the Middle East increased by 27% in Q2 this year, a new industry report released this week found that the introduction of value-added tax has not resulted in the huge job creation surge many predicted.

The latest Middle East Jobs Index has seen a rise in demand for treasury experts, sales and marketing candidates in Saudi Arabia, dispute lawyers, energy experts, candidates with experience in treasury, and Gulf nationals in general.

Canada spat: As Saudi Arabia cuts diplomatic, trade and investment ties, what is at stake?

• Canadian imports to Saudi Arabia amounted to $969 million last year, while Saudi Arabian companies sent just $90 million worth of goods to Canada

• There is concern over the future of a $15 billion arms deal for Canada to supply Saudi Arabia with light armoured vehicles

• Saudi Arabia announced that around 16,000 Saudi students studying in Canada would be recalled

• Saudi Arabian Airlines has suspended flights to and from Toronto

• The UAE said it "stands in solidarity with Riyadh in the confrontation of any foreign interference"

Health check: Oman's insurance sector set for a boost when compulsory health insurance for all is finally rolled out - analyst

Oman’s decision last month to implement a compulsory health insurance scheme for private sector employees is a positive move aimed at boosting the non-life insurance sector, which has a relatively low penetration rate in the Gulf Cooperation Council (GCC) region, according to a Dubai-based financial analyst.

A flying start: The UAE received the lion's share of regional start-up funding, but Saudi Arabia and Egypt show growth

Start-ups that have potential to expand to multiple countries in the region and that solve challenges connected with logistics are showing, and will continue to show, strong performances, said Magnitt CEO Phillip Bahoshy.

Opinion: Trump v China, Nigerian potential, bitcoin energy drain, gold's struggle and Q2 results

A roundup of some of the commentary from this week's Zawya Opinion section

“It will be interesting to see whether China will start using a more dangerous weapon against the U.S. and selling large portions of the $1.2 trillion of Treasury Bonds it currently holds”.