Jebel Ali Port Dubai

Dubai-Israel: Trade hits Dhs1bn in five months

Trade between Israel and Dubai is estimated to grow to Dhs15bn in the next few years and generate over 15,000 jobs

SAUDI-HEALTH-VIRUS-TRAVEL

Saudi extends border closures, travel ban for citizens until May

The extension from the scheduled date of March 31 is due to vaccine delivery delays, officials said

UAE trade volume up more than 13% in Q4 2020: report

Global trade trend activity rises sharply as recovery builds momentum

Saudi arrests businessmen, bank employees in $3.1bn corruption scheme

Those arrested were allegedly involved in a scheme that transferred more than SAR11.5bn outside the country

Oman to impose higher visa fees for employing foreign nationals

The most significant increases will apply to top/senior level, middle level and technical and specialised roles

UAE updates quarantine rules for federal government employees

All federal bodies are to submit a weekly report on the status of their employees

Abraham Accords: Impact on talent synergies between the UAE and Israel

The relations between Israel and the UAE will have omnipresent long-term benefits through their similarities

Kuwait projects $40bn deficit as infighting delays reform

Budgeted capital expenditure is up 20 per cent on the current year’s estimate

Saudi’s Public Investment Fund launches 5-year strategy; assets treble to $400bn

PIF aims to grow its assets under management to over $1.07 trillion by the end of 2025

cryptocurrency

Central Bank of Bahrain licences Sharia-compliant cryptocurrency exchange CoinMENA

At launch, CoinMENA’s platform will be available to residents of Bahrain, the UAE, Saudi Arabia, Kuwait and Oman

Bahrain-GCC trade hits $5.7bn in 2020 despite Covid-19 challenges

Bahrain exports surge 12 per cent in Q4 of 2020 buoyed by manufacturing sector

Sharjah

Sharjah attracted $220m FDI in 2020

There was a 60 per cent increase in the number of FDI projects between Q3 and Q4 in 2020

Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank launches one-year healthcare equities note for investors

The structured note which matures in 12 months provides 95 per cent capital protection

Dubai UAE

Dubai responds to “party haven amid pandemic” media report

The state-run Dubai Media Office issued a clarification on Tuesday, January 19

Oman extends visa-free period for citizens of 103 countries for upto 14 days

The step is part of efforts to bolster the tourism sector of the sultanate

Kuwait expats

More than 83,500 expats left Kuwait in Q4 2020 – report

The number of expats in the country’s workforce has now dropped to 1.5 million

Bahrain

Bahrain attracts $885m investment in 2020 despite Covid-19

Accumulated direct investments reaches 78 per cent of Bahrain’s GDP

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