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

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

Kuwait masks

Kuwait considers reducing visa fee for residents aged over 60

The country had earlier banned the issuance of work permit renewals for expatriates aged 60 who do not hold university degrees

Taliban set to retake Afghanistan after two decades

The Taliban swept through Afghanistan in a matter of weeks, taking world leaders by surprise as they entered a vacuum created by departing US and NATO forces

Abraham Accords: What has been the biggest impact so far?

Prominent Israeli leaders voice their thoughts on the major changes they have seen in the last year

Explainer: Are physical events making a comeback in the GCC?

Events that are the leaders in their sector will probably recover quicker as customers will reduce the number of exhibitions they attend, opines Andy White, senior vice president, dmg events

Saudi Arabia Riyadh

Saudi Arabia issues highest-ever number of foreign investor licences in a single quarter

It issued 478 licenses in Q1 2021, a 36 per cent increase over the corresponding period last year

Saudi Arabia’s budget deficit narrows in second quarter on oil, taxes

Spending on health and social development rose 20 per cent

Abu Dhabi

Abu Dhabi to allow 100% foreign ownership of professional companies

The new licences will cover 604 activities across many fields including accounting, training and consultancy

UAE business conditions at two-year high as virus woes ease

A Purchasing Managers’ Index compiled by IHS Markit rose to 54 in July from 52.2 in the previous month

Abu Dhabi

Abu Dhabi reduces requirements for starting new commercial businesses

It follows the establishment of a task force led by the Abu Dhabi Department of Economic Development which coordinated its efforts with over 20 government entities

https://gulfbusiness.com/freeze-on-dubai-government-fees-extended-until-early-2023/

Sheikh Hamdan issues resolution to waive and reduce fees for 88 government services in Dubai

The resolution is intended to stimulate economic growth, promote competitiveness, lower living costs, and support investors

Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank net profit at Dhs1.1bn in H1 2021, up 89% y-on-y

Its total revenue grew 3.4 per cent to Dhs2.644bn compared to Dhs2.557bn in H1 2020

Kuwait: Fully vaccinated expats can return from Aug 1, need to undergo home quarantine

Kuwait residents with valid iqamas can return to the country provided they have received one of four approved vaccines

Kuwait removes most Covid-19 restrictions, resumes all commercial activities

Large gatherings continue to be banned, and those not vaccinated will have restricted entry in certain areas

Abu Dhabi

Abu Dhabi slashes private sector business setup fees by over 90%

Business setup and licence renewal fees have been reduced to Dhs1,000

How businesses should implement employee engagement programmes to boost well-being

Physical and mental well-being has declined for many since the onset of the global pandemic

Covid-19: Oman goes into complete lockdown, Sur exempt due to heavy rains

All commercial activities and the movement of individuals and vehicles are banned during the Eid Al Adha holidays

Kuwait credit rating cut for second time in two years by S&P

The sovereign credit rating was cut one level to A+ from AA-

Covid-19: All the new Abu Dhabi guidelines that will take effect from July 19

The emirate has restricted movement between midnight and 5am daily and reduced operating capacity at malls, gyms and restaurants

Here’s why economic growth must be consistent with sustainable investing

For the private or state investor, there are three ways to make a deeper ESG impact

Fitch lifts Saudi Arabia’s outlook to stable as oil gives boost

The ratings agency expects the Saudi budget deficit to narrow to 3.3 per cent of GDP this year

Qatar wealth fund builds regional hub in Singapore to diversify

The fund has vowed to invest more in Asia and the US as it pursues growth and diversification after years of substantial investment in Europe

Bahrain announces ‘orange alert level’ during Eid holidays to enforce restrictions

The kingdom will adopt the green alert level from July 16 to July 18

Covid-19: UAE issues Eid Al Adha protocols to avoid hike in cases during the holidays

Studies conducted by the health sector found a “significant” increase in the number of infections and deaths following the last three holidays

Abu Dhabi’s Sharaka initiative settles all private sector dues from the government in Q1    

The platform enables private companies based in Abu Dhabi to file complaints and address grievances regarding outstanding dues

Kuwait to shut all clubs offering activities for children from July 25

The clubs have been closed as a precautionary measure to curb the spread of Covid-19

Video: Sheikh Mohammed inaugurates new roads connecting various emirates

New infrastructure projects worth Dhs1.95bn have been launched in the UAE

Coders from across the world can now apply for UAE golden visas

The UAE has announced plans to offer 100,000 golden visas to coders – based both locally and internationally

Oman’s ruler Sultan Haitham to visit Saudi in first official foreign trip

Sultan Haitham will meet with King Salman during his two-day visit on Sunday and Monday

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai

Sheikh Mohammed launches new programme for coders in partnership with top tech giants

Sheikh Mohammed said the programme aims to train and attract 100,000 coders and establish 1,000 digital companies within five years