Abu Dhabi

Abu Dhabi announces Dhs6bn boost for SMEs

The programme is funded by Ghadan 21’s SME credit guarantee scheme

Oman prices third bond sale since October to plug deficit

The largest oil exporter outside of OPEC sold $3.25bn in a three-part debt offering

Abu Dhabi Investment Office establishes international presence in US, Asia and Europe

The network of new locations will offer unprecedented access to the emirate’s offerings

Khalifa Port UAE

UAE’s non-oil trade reaches Dhs1.033 trillion for January-September 2020

China was the UAE’s leading trading partner with a total trade of Dhs124.45bn

Kuwait parliament assembly

Kuwaiti cabinet resigns after a month, fueling political turmoil

Kuwait has had 17 governments and eight elections since 2006

Dubai UAE

Dubai Economy issues 42,640 new licences in 2020

It represented a 4 per cent increase over the number of new licences issued in 2019

How NAMA is advancing gender equity and inclusive socioeconomic growth

Reem BinKaram, Director of NAMA Women Advancement Establishment, outlines the role of the entity and its affiliates

SAUDI-ECONOMY-TRANSPORT-METRO

Outsourcing firm Proven to enable clients meet Saudisation goals

Saudi Arabia wants localisation of 20 per cent of 117 engineering fields by beginning of 2021

Kuwait MPs submit proposal to impose fee on money transfers out of country

Lawmakers have called for a 2.5 per cent fee on all money transfers out of the country

FIrst-abu-dhabi-bank-atms

UAE’s First Abu Dhabi Bank issues five-year $500m sukuk

It attracted a total orderbook of around $1.5bn which represents a three times over-subscription rate

Video: Saudi Crown Prince announces car-free, zero-carbon city, ‘The Line’

Located within NEOM, the city is expected to house one million residents and create 380,000 jobs by 2030

Dubai

Dubai Economy receives 59,130 consumer complaints in 2020

The complaints marked a 51 per cent increase compared to 39,113 received in 2019

Outlook 2021: UAE’s economic recovery in 2021

The economic consequences of the Covid-19 pandemic have been severe for all countries around the world

UAE reopens air, land and sea borders with Qatar

Scheduled and unscheduled flights between the two countries will resume operations from Saturday

Trade, transport between GCC, Qatar could resume within a week – official

Legal cases Qatar filed against the UAE will also be suspended

Sheikh-Hamdan-Dubai

Sheikh Hamdan announces Dhs315m economic stimulus package for Dubai

The total stimulus provided to the emirate’s economy since the start of the pandemic has risen to Dhs7.1bn

oil-pumps

Kuwait makes three oil and gas discoveries

The discoveries were made in the largely unexplored western and northwestern areas of the country

Gold near eight-week high as Covid angst fires up haven demand

Spot gold added as much as 0.1 per cent to $1,945.67 an ounce, the highest since November 9

Sheikh Mohammed completes 15 years as head of UAE government

‘We did our best,’ says the UAE Prime Minister and Ruler of Dubai

Bahrain-Manama

Bahrain central bank extends loan repayment deferrals on Covid crisis

The option to postpone installments is to be offered to all customers residing in the kingdom, whether individuals or companies

Bollywood park, Dubai parks and resorts

Dubai’s DXB Entertainments to hire advisers to evaluate Meraas’ offer

The board approved appointing KPMG and Shuaa Capital as financial advisers and Allen & Overy as legal adviser

Saudi wealth fund PIF starts private security firm

The National Security Services Company, also known as SAFE, will focus on providing a range of specialised services

Oman’s expat workforce down by 16% amid pandemic – report

Up to 272,126 foreign workers, mostly from Nepal, Uganda, India, Pakistan, Bangladesh and Egypt, have left Oman

UAE President Sheikh Khalifa

Abu Dhabi to establish a new Supreme Council for Financial and Economic Affairs

The Ruler of Abu Dhabi will be the Chairman of the council with the Crown Prince serving as Vice-Chairman

Sheikh Mohammed

Sheikh Mohammed approves Dhs57.1bn spend in 2021 Dubai budget

The programme takes into account “the exceptional economic conditions of the fiscal year 2020″

Saudi firms replace CEOs at rapid pace in fourth quarter

Key leadership positions have been reshuffled

Business leaders rank UAE as global leader in innovation

Business executives in the UAE rank the country as a global leader in creating an ‘innovation-conductive’ environment

Oman to start removing utility subsidies from January 2021

The subsidies for the electricity and water sector are about $1.95bn

Abu Dhabi City United Arab Emirates

Abu Dhabi to start specialised courts as part of legal overhaul

The specialised courts will review family lawsuits and other civil cases including rental disputes

Sustainability reporting increases in top UAE companies amid new mandates

Increase attributed to greater commitment to national green initiatives