Dubai to encourage IPOs from private firms to revive market

The city merged its economic and tourism departments on Saturday

Abu Dhabi UAE government

Indonesia fund lets UAE invest in its high-yield instruments

The investment framework deal was signed with the Abu Dhabi Growth Fund

Saudi bourse Tadawul ends IPO wait, plans to list 30% stake

The offering could value it at between $3bn and $4bn

Dubai’s Expo spurs tourism, boosting UAE business activity

A Purchasing Managers’ Index compiled by IHS Markit rose to 55.7 in October from 53.3 in September

Over half of Arab youth say they will boycott brands that damage the environment

The region’s youth is keen to ensure governments and businesses act responsibly when it comes to climate action

How should GCC economies manage public finances

Governments can use sovereign asset liability management as a financial tool to manage public sector balance sheet risks

Saudi budget sees first quarterly surplus since 2019 on high oil

Oil revenue was about SAR148bn, an increase of 60 per cent from the same period last year

Covid-19: Bahrain updates alert system, temperature checks to be stopped for unvaccinated

Obligatory registration of information will no longer be required for non-vaccinated individuals when entering a facility, with waiting areas to be re-opened

Six areas to cover in your startup’s first 100 days

The first few months for any startup are critical

Saudi Arabia announces Riyadh’s bid to host World Expo in 2030

The UAE this year became the first Middle Eastern nation to host the World Expo event

Saudi Arabia

Saudi: 44 global companies shift regional HQ to Riyadh ahead of 2024 deadline

The licenses were issued at the 5th edition of the Future Investment Initiative

Kuwait eases all Covid-19 restrictions with airports at full capacity, no mask mandate for outdoor activity

Worshippers in mosques can also now pray in “stacked rows” without distancing

Emirates NBD

Dubai’s Emirates NBD nine-month profit rose an annual 29% to Dhs7.3bn

The bank reported a nine-month total income of Dhs17.3bn as compared to Dhs18.3bn in the previous year

Saudi ARabia

Saudi hoard of US Treasuries shrinks most since oil-price rout

The kingdom sold $4bn in US government debt, the most in over a year

IMF upbeat about MENA growth, warns about uneven recovery

The fund raised its economic growth projection for MENA to 4.1 per cent this year from an earlier estimate of 4 per cent

in5 dubai

Startups at Dubai’s in5 secure investments worth Dhs1.4bn

More than 150 new companies joined in5 since 2020, bringing the total number of startups supported by the incubator to 500

Uber, Careem said to face $100m tax bill in Saudi

The claims are reportedly related to a dispute over how to calculate value-added tax

Tunisia in talks with UAE, Saudi Arabia for funds, official says

Tunisia is battling long-running economic troubles and has been mired in fresh political upheaval since late-July

UAE foreign trade

UAE’s non-oil foreign trade up 27% to Dhs900bn in H1 2021

The value of non-oil exports alone amounted to Dhs170bn during this period

Saudi Arabia considers freezones for cloud computing and manufacturing

At the outset Saudi Arabia plans to build four or five zones

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed approves Dhs290bn UAE general budget for 2022-2026

It includes a budget of Dhs58.931bn for 2022, of which 41.2 per cent will be allocated for the development and social benefits sector

UAE chosen as the ‘top country to live in’ by Arab youth for 10th consecutive year

Nearly half of the young Arabs said they wanted to live in the UAE

Saudi Crown Prince launches National Investment Strategy

The strategy will contribute to the growth and diversification of the kingdom’s economy

Gold steadies as traders weigh elevated inflation, growth risks

Spot gold steadied at $1,755.18 an ounce at 9.40am in Singapore, after retreating 0.2 per cent on Monday

Dubai’s DWTC Authority announces regulations to license setup of family offices

The regulations address the needs of family-run entities

Saudi non-oil private sector growth quickens to 7-year high

A Purchasing Managers’ Index compiled by IHS Markit rose to 58.6 in September

Sheikh Mohamed bin Zayed 2

Sheikh Mohamed bin Zayed: The UAE has overcome the Covid crisis, life returning to normal

The UAE has seen a steady decline in the number of Covid-19 cases in recent weeks

DAFZA accounted for 11% of Dubai’s non-oil foreign trade in H1 2021

H1 trade in the freezone grew 34 per cent over the corresponding period last year to reach Dhs77bn

Qatar to hold its first elections on October 2

The Shura Council comprises a total of 45 members

Kuwaiti ruler makes unprecedented call for dialogue amid impasse

The initiative follows years of political tensions that have stymied efforts to diversify the country’s economy and promote foreign investment