It has also levied restrictions on the transfer of dependent to work visas in the private sector
The decision applies to all private sector establishments that employ five or more engineering professionals
Nurseries have been granted 50 per cent exemption on trade licence renewal
Recovering from the ‘great compression’ caused by Covid-19 is going to be a slow and uncertain process, led by epidemiological factors
Transworld Feeders and Avana Global are independent feeder and Non-Vessel Operating Common Carriers (NVOCC) operators
The sultanate’s dollar-denominated bonds have lost 1.6 per cent this year, the worst performer in the region
The validity of a family ownership contract can extend up to 15 years, after which it must be renewed
The government estimates a budget deficit of KD14bn in the current fiscal year
Fitch’s latest downgrade brings its ranking of Oman to the same level as that of Moody’s Investors Service and S&P Global Ratings.
Saudi Arabia’s media has been more unfettered in its praise of the UAE’s decision
The construction and engineering sector accounted for the biggest share of contracts in the first six months of the year
Businesses can secure up to four visas when renting a desk space within the freezone
Lower oil prices and the global coronavirus pandemic have combined to stretch its finances
Expatriates whose visas expired by the end of May were given a three-month free grace period to renew their documents
The digital economy’s contribution to the UAE’s local GDP in 2019 reached 4.3 per cent
Saudi Arabia increased its value-added tax from 5 per cent to 15 per cent on July 1
The bill was designed to raise as much as $65bn
Exports rose by 20 per cent year-on-year to Dhs31m from Dhs25.7m, while re-exports stood at Dhs6.5m
Salons, gyms, barbershops, tailors, and spas are set to reopen from August 18
Its net revenue also declined nearly 11.5 per cent year-on-year to Dhs2.5bn
The new route will be served by a fleet of eight vessels ranging in capacity from 10,000-13,000 TEU
Construction as well as the wholesale and retail industry are leading the upswing
The Gulf state is aggressively looking to reduce its expat population
Nearly half of all Saudi employees are below the age of 35
Kuwaiti lawmakers have approved amendments to the rent law, allowing tenants to delay their rent payments
The UAE’s central bank had provided more than $70bn of stimulus by March to aid businesses
Measures to be followed include social distancing and limited capacity
Re-exports fell 24.6 per cent year-on-year to Dhs13bn and non-oil exports by 8.5 per cent to Dhs18.3bn
Employment continued to fall in Saudi Arabia, the UAE and Egypt despite a stronger pickup in non-oil private sector activity in July
China accounted for the highest percentage of DAFZA’s trade, with 21 per cent valued at Dhs7.7bn