Saudi sovereign wealth fund acquires 25% stake in Emaar the Economic City

The transaction is in line with Public Investment Fund’s Strategy 2021-2025, which focuses on building strategic economic partnerships

Dubai non-oil trade

Dubai’s non-oil external trade grew 31% y-on-y to Dhs722bn in H1 2021

China remained Dubai’s biggest trading partner with Dhs86.7bn worth of trade, up 30.7 per cent over H1 2020

UAE says it is winding down pandemic stimulus as economy recovers

The loan deferral component of the Targeted Economic Support Scheme will expire by the end of 2021

Dubai companies including Emaar, Emirates hiring again as Covid crisis eases

Businesses in Dubai’s travel and tourism industry in August saw the sharpest increases in activity and new work in over two years

Saudi Arabia: Paving the way for the future

With a young leadership at the helm, the GCC’s largest economy has embarked on a journey of growth, diversification and alliances

Covid-19: Oman waives several fines to support the private sector

The Supreme Committee has also warned that authorities will shut down any establishments found in breach of the precautionary measures

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum

Dubai forecasts 3.1% economic growth in 2021, 3.4% in 2022

The total cost of the five stimulus packages announced by the emirate’s government since the start of the pandemic amounted to Dhs7.1bn, or 1.6 per cent of Dubai’s GDP

KUWAIT-HEALTH-VIRUS

Majority of expats in Kuwait earn between $200- $400 per month – study

The Public Authority for Manpower urged for restricting work permit issuance for one year to ‘utilise skilled labour already in the country’

Emirates Development Bank

UAE’s Emirates Development Bank partners with YAP to launch business banking app for SMEs

The EDB Business Banking app is free to open and has no minimum balance criteria

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed creates new authority to oversee three Dubai freezones

The new entity will now oversee the operations of Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City

How Abu Dhabi is beckoning global talent for its long-term future

The emirate’s growing favourability among tourists, families and investors can be attributed to its focus on inclusion, innovation and diversity

Kuwait says foreigners on commercial visit visas can switch to work permits

Thousands of expats have left Kuwait this year and have been unable to return to the country due to the pandemic

National Bank of Fujairah

UAE’s National Bank of Fujairah launches electronic trading platform

The new platform is available for both conventional and Shariah-compliant banking customers

Covid-19: Sharjah updates guidelines for social and home gatherings, weddings

Attendance at all the events is limited to people who are fully vaccinated, and who can present the green pass status on the Alhosn app

UAE: Driving net-zero aspirations with public-private partnership support

Engaging the private sector, public sector, and all other stakeholders is imperative

UAE seeks $1 trillion in business with Israel over next decade

The UAE was looking at sectors including defense, energy and food security

UAE non-oil trade

UAE’s non-oil trade recorded at Dhs1.403 trillion in 2020

The UAE’s non-oil exports grew 10.1 per cent year-on-year in 2020 to Dhs254.6bn

Kuwait’s expat population down by 56,000 in the first half of 2021 – report

The total number of expats in Kuwait stood at 3.154 million at the end of June

Dubai Chamber

Dubai Chamber exports, re-exports grew 21.8% to Dhs147bn in January-August 2021

Chamber members’ exports and re-exports to the GCC countries during the first eight months of the year increased 16.4 per cent year-on-year to Dhs79.6bn

Projects of the 50: UAE aims to create 75,000 private sector jobs for Emiratis

Several incentives have been unveiled to encourage UAE nationals to join the private sector including salary top-ups and unemployment benefits

Why good governance makes sense for family businesses

Adopting a robust governance framework offers a roadmap for businesses to move forward

UAE to grow trade ties in Asia and Africa

The Gulf state will expand economic ties with countries including South Korea, Indonesia, Kenya, Ethiopia and Turkey

Cover story: Why Virtuzone’s executives believe startups must emulate UAE for long-term success

The UAE has meticulously crafted its position as a startup hub, and similar to any venture, the path to reach the top has not been easy. In an exclusive, business setup company Virtuzone’s leaders elaborate on why they are convinced by its proposition

UAE announces new initiatives, including visa changes and new data law

A new green visa has been launched to offer more flexibility to expats in the UAE

UAE to announce 50 new national projects in September

The project announcements will commence on September 5

UAE and Uzbekistan: Heralding a new era

As Uzbekistan hosts its first-ever independent pavilion at Expo 2020 Dubai, the country’s ambassador to the UAE Bakhtiyor Ibragimov reveals why he is confident about stronger ties with the UAE

china-arab states expo

China-Arab States Expo closes with $24bn worth of deals

The fifth edition of the biennial China-Arab States Expo was held in China’s Ningxia Hui Autonomous Region from August 19-22

Abu Dhabi’s Mubadala Capital closes private equity Fund III with commitments of $1.6bn

Fund III raised capital commitments from leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms

Saudi Arabia to extend residency permits for expats stranded outside the kingdom

It will be extended automatically and at no additional cost

Kuwait asks ministries to cut spending by 10% amid budget gap

The OPEC member posted record $36bn budget deficit in 2020