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

Dubai's virtual asset

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

Bahrain-Manama

Bahrain, UAE and Saudi ranked among world’s top five Islamic finance economies

Islamic Development Bank report places Bahrain in third place globally

Truck

Dubai trade with Bahrain increases 170% in 10 years

In the first half of 2020, trade between Dubai and Bahrain amounted to Dhs5.37bn

Saudi Arabia plans spending cuts in 2021 as economy recovers

The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021

KUWAIT-EGYPT-HEALTH-VIRUS

Kuwait to offer only one-year residency for expats – report

The new decision will apply to all expats entering the country

Kuwait parliament assembly

Kuwait post-election cabinet has new finance, oil ministers

Kuwait elected a new National Assembly on December 5

Global Islamic finance assets expected to reach $3.69 trillion in 2024

The Islamic banking sector grew 14 per cent in 2019, equating to $1.99 trillion in global assets

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

Sheikh Mohammed issues new laws to ramp up efficiency of Dubai government entities

Dubai Nuclear Energy Committee, Awqaf and Minors Affairs Foundation, Dubai Real Estate Institute and Dubai Institute for Human Resource Development fall under the ambit of the new laws

British investments in UAE valued at $20.5bn

The UAE is also one of the 27 top investors in the UK

Abu Dhabi

Abu Dhabi’s toll gate system to go live on January 2, 2021

Motorists need to register and activate their toll accounts

Abu Dhabi wealth fund targets Africa, renewables to lift returns

ADIA started a climate-change equity portfolio this year, aimed at boosting its green-economy exposure

Oman foreign minister

Oman plans more labour reforms and new taxes – foreign minister

The country also has plans to extend visa-free arrival for up to 30 days for citizens of more than 100 countries

Kuwait parliament national assembly

Kuwaiti voters replace more than half of sitting parliament

The incoming legislature will have 31 new members

UAE airport

UAE authorities issue guidelines on applying for amnesty as Dec deadline looms

Following the amnesty period, those found with expired visas face fines of up to Dhs315 per week