Saudi unemployment falls in fourth quarter as virus slows

Unemployment among Saudi nationals hit a record high of 15.4 per cent last year

Kuwait masks

Kuwait might continue curfew during Ramadan, Eid

The nightly curfew currently in place from 6pm to 5am is currently expected to end on April 8

Saudi firms will cut dividends to fund $1.3 trillion investments

The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia

How the Gulf region will witness a vigorous recovery in 2021/22

The recent recovery of the crude oil price to the pre-pandemic level of $60-65 per barrel is a huge relief for all the Gulf states

UAE: All passengers must declare currencies, negotiable instruments valued over Dhs60,000

The value of gifts brought in with travellers should not exceed Dhs3,000

Outlook for the year 2021 is ‘positive’, despite Covid-19 fallout, says Al Habtoor chairman

The real estate sector in Dubai recorded a strong sales growth of 17 per cent in January 2021

Saudi crown prince Mohammed bin Salman

Saudi Crown Prince announces two massive green initiatives to combat climate change

The overall regional tree planting programme (with 50 billion trees) is claimed to be the largest reforestation programme in the world

Changes in UAE citizenship law beckon hope and inclusion

Amendments to the UAE’s citizenship law heralds the making of a diverse, talent-based society

Dubai declares 10-day mourning, suspends government work for 3 days over Sheikh Hamdan’s demise

Flags will be flown at half-mast during the mourning period

Sheikh Hamdan bin Rashid Al Maktoum

Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, passes away

Sheikh Hamdan held the position of ‎Minister of Finance since the first formation of the Cabinet on December 9, 1971

UAE Indonesia

UAE to invest $10bn in Indonesia’s sovereign wealth fund

The investments will focus on strategic sectors in Indonesia, including infrastructure, roads, ports, tourism and agriculture, among others

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed restructures Dubai government; approves five-year foreign trade plan

Three new chambers of commerce will be created and the five-year plan seeks to increase Dubai’s foreign trade from Dhs1.4 trillion to Dhs2 trillion

Kuwait city

Kuwait eases Covid-19 restrictions, exempts vaccinated arrivals from institutional quarantine

The nightly curfew timing has been reduced by one hour

Saudi’s Nazaha arrests several people on corruption, embezzlement charges

Legal procedures against the accused are currently underway

Qatar, Saudi deny immediate Israel normalisation plans

The UAE became the first Gulf Arab nation to agree to normalise ties with Israel

Saudi-led jets strike Houthi targets in Yemen after Aramco hit

These strikes came after Iran-backed Houthi rebels attacked an Aramco refinery in the Saudi capital on Friday

Cryptocurrency Dubai DMCC

Cryptocurrency businesses can now open offices within DMCC freezone in Dubai

Cryptocurrency businesses will be offered bespoke licences by the DMCC Crypto Centre in Dubai

Scoring a goal: Following the AlUla Declaration, how will Qatar’s growth plans fare?

Normalisation of ties with the GCC, the upcoming FIFA World Cup and economic reforms are painting a positive picture for the gas-rich nation

Bahrain awarded $4.1bn worth of contracts in 2020

Covid-19 response sees Ministry of Health spending almost tripled compared to 2019

UAE money laundering prosecution office

UAE gross bank assets at Dhs3.172 trillion at the end of January

Gross credit in the banking system grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021

Saudi economy contracted 3.9% in fourth quarter as oil drags

The non-oil economy shrank an annual 0.8 per cent in the fourth quarter

Abu Dhabi court fines four people, jewellery firm Dhs90m for money laundering, fraud

Each of the four defendants has been handed a five-year imprisonment term followed by deportation and a fine of Dhs10m

ADNOC Distribution

UAE’s ADNOC Distribution changes share dividend policy

It confirmed a minimum Dhs2.57bn dividend for 2022

Sheikh Khalifa announces 2021 as Year of the 50th

The ‘Year of the 50th’ officially starts on April 6, 2021 and lasts until March 31, 2022

Biggest aluminum maker in Middle East sees prices staying high

Emirates Global Aluminium said earnings before interest, tax, depreciation and amortization were Dhs4.1bn in 2020

Kuwait masks

Kuwait: Schools to reopen in Sept, cinema entry only for vaccinated people post Ramadan

Some two million people in Kuwait are expected to receive Covid-19 vaccination by September

UAE Central Bank

Overall liquidity in UAE banking system back to pre-Covid levels – Central Bank

The Central Bank of the UAE projects the country’s real GDP to increase by 2.5 per cent in 2021

UAE to require listed firms to have at least one woman on board

The requirement came into force after the Securities and Commodities Authority’s meeting on Sunday

Ras Al Khaimah: Violation, late payment fees scrapped for companies in events sector

The new exemptions follow an earlier set of measures that were approved last year

Saudi’s labour reforms take effect with expats now having greater rights

The new initiative offers expatriate workers labour mobility and amends existing exit procedures