Uae Predicts Zero Contribution from Oil to Gdp 9 772462 249006 Issn Issue 89 Rm 6 2462-2494 Pp 16000/07/2013(032927) 89

BRIDGING YOU TO THE ARAB WORLD

Malaysia and the Arab World Arabic English Monthly Magazine (15thth ofof EveryEvery Month),Month), IssueIssue 86,89, FebruaryMay 2016 2016 / PP 16000/07/2013(032927)/ PP 16000/07/2013(032927)

DUBAI TOURISTS INCREASED 5% IN Q1, GCC TO 2016 CONSOLIDATE SPENDING IN LIGHT OF LOW OIL PRICES UAE PREDICTS ZERO CONTRIBUTION FROM OIL TO GDP 9 772462 249006 ISSN ISSUE 89 RM 6 2462-2494 PP 16000/07/2013(032927) 89

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MALAYSIA… PIONEERING EDUCATION digital issue After winning the best global Islamic tourist destination last month, Malaysia is nowadays harvesting the fruit of the efforts by acquiring leading position in the educational sector, as Malaysia was selected alongside Germany among the top 26 countries in the world in terms of openness policy to international higher education by the British Council, which conducted studies that showed that Malaysia scored very high in three categories: CHAIRMAN EDITORIAL QATAR OFFICE: openness, quality assurance and accreditation, and sustainability. This Dato Noor Mohamad Mohamed Al Soofi Tel: +974 6668 2824 achievement vehemently accompanied by numerous signs proves Mohamed Hassan Mob.: +974 33115135 the effectiveness and efficiency of the educational policies of higher EXECUTIVE EDITOR-IN-CHIEF Maher Ibrahim Director & DG Yusuf Waswas Mohamad Al Boutary education implemented by Malaysia. Dr. Abdulrahim Abdulwahid Eiad Mahmoud Yousuf These efforts and policies paid off as certain Malay universities were ranked Abdul Karem Al Jamal OMAN OFFICE: CONSULTANT BOARD Heba Mostafa Hashem Mob.:+968 92925677 high globally, including but not limited to: University of Malaya (UM), which Datuk Seri Azman Ujang Zanib Abdulrahim Director is considered the best university in Malaysia and is ranked globally at No. Dato Tuan Ibrahim Mohamad Saad ART DIRECTOR 207, as well as the Malaysian National University (UKM) taking the second EXECUTIVE MANAGER Manal Basalamah PRINTING place in Malaysia, and ranked globally on 263rd position, into addition Alaa Abdulwahid Superior Press Sdn Bhd to other universities that were ranked high on the global education index. MARKETING PP13331/08/2013(032685) PR AND PUBLISHING Mohammed AbdulRaheem Lot2063A, Jalan Kusta, Dr. Abdulrahim Abdulwahid Malaysian universities according to the Asian ranking of universities are www.aswaqpress.com MANAGER Amal Mahfoudh Sungai Buloh Executive Editor-in-Chief & DG in top positions, where the Foundation (QS University Ranking) Global Kawasan Industri Taman [email protected] [email protected] Giath Fowze DISTRIBUTION Jaya, Assessment universities issued a report of the top 300 Asian universities 47000 Selangor Darul FINANCIAL MANAGER Waleed Salama for the year 2015 (Asia 2015), where Malaysian universities bolstered its aswaqpress Ehsan Sara Yasmin DISTRIBUTION CENTERS position in the Asian ranking showing much improvement in comparison Malaysia, UAE, Saudi with 2014’s ranking, especially in the top 100 universities in Asia category, EDITING MANAGER Arabia, Anas Salman where five government-run Malaysian universities have already made an Qatar, Kuwait and Oman impressive mark on higher education in Asia in general, and the ASEAN PUBLIC RELATIONS E-MEDIA Basem Ayad region in particular. Mohamed Al Soofi On the basis of a personal and professional experience with Malaysian educational, trade and tourism, choosing Malaysia to pursue higher studies and education was justified for many reasons such as: quality of higher education in accords with international standards, which are supervised by the Ministry of Higher Education in Malaysia and relevant governmental bodies, as the use of English in the studying process, the MALAYSIA UNITED ARAB EMIRATES No.343 )3-rd Floor) , Jalan 2570/A, Desa Sri Dubai, Deira, Abu Hail, New Safia Building, competitive cost of studying, accommodation and everything in general Hartamas, 50480 Kuala Lumpur. M. Floor, Office 53A ،Tel: +603 6201 8841 / 8842 Tel: +971 4 2972740, 2971577 [email protected] Mob.: +971 50 646 97 51 is lucrative compared to other countries that have the same academic www.aswaqpress.com E-mail: [email protected] Facebook.com/aswaqpress www.mediahubintl.com and educational level, as well as the availability of a wide range of choices and alternatives due to existence of numerous universities and colleges which will definitely be of the likening of any person, and finally the ease of the procedures for obtaining admission to various universities. DISTRIBUTION LOCATIONS EMIRATES AIRLINES BUSINESS LOUNGE  PAVILION MALL KUALA LUMPUR  SUNWAY LAGOON PARK ROYAL HOTEL KL  MALAYSIAN AIRLINES (IN-FLIGHT)  POPULAR BOOKSTORE TIMES BOOKSTORE  TIMES THE BOOKSHOP  BERJAYA BOOKS WH SMITH (KLIA, LANGKAWI AIRPORT, PENANG AIRPORT)  COLD STORAGE MY HERO  MERCATO  AEON BIG

ASWAQ Magazine | May 2016 7 ASWAQ Info ASWAQ Info

VAT COULD HIKE INFLATION AND COST OF DOING 14 BUSINESS

GCC TO CONSOLIDATE SPENDING IN INDEX LIGHT OF LOW OIL PRICES 18 UAE PREDICTS ZERO DUBAI CONTRIBUTION FROM OIL TO GDP 16 TOURISTS 20 INCREASED 5% IN Q1, 2016 MIDDLE EAST REMITTANCES 10 REACHED US$120 BILLION IN 2015 12

NEW LAW TO PROTECT DUBAI ECONOMY 23

SUKUK ISSUES MAY HIT US$55B THIS YEAR

8 ASWAQ Magazine | May 2016 ASWAQ Magazine | May 2016 9 Report Report

visitors, followed by Pakistan within the same region which rose by 18 percent over the same period. Western European visitors were the second largest source region with a 23 percent visitor share in Q1 2016, despite challenging global market conditions and a strong US dollar. This was led by United Kingdom which saw a 10 percent year-on-year quarter growth with 334,000 visitors, hence remained as Dubai's third largest country contributor. Dubai Tourism’s director general, Helal Saeed Almarri was quoted as saying that the global travel in the first three months of this year has been impacted by geo- political, social and economic

Helal Saeed Almarri, uncertainties, with most markets Dubai Tourism’s experiencing flat to negative Director General growth. He commented that Dubai's highly agile, fragmented source market approach, the strength of its government, public and private sector partnerships, as well as the effective promotional and marketing outreach, as having been fundamental to fuelling the overall growth. Almarri added, "Markets within the four hour flight path, specifically the GCC and India, remain a critical focus for our on-going visitation attraction efforts as build towards our growth targets." Accommodations across all hotels and hotel apartment categories in Dubai also saw growth in the same period with 676 establishments in full operation, representing 98,949 rooms. Almarri further said, "Tourism-related infrastructure and capacity enhancement investment is expected to accelerate during 2016 through more segment- specific offerings such as culture and heritage The GCC continued to lead in the region delivering attractions and family-oriented theme parks, in 25 percent of all overnight visitation to Dubai in Q1 addition to continued focus on enhancing the DUBAI TOURISTS INCREASED 2016, while vis