The combined conglomerate will operate across real estate, tourism, hospitality, leisure and entertainment and investments
All government companies, except Petroleum Development Oman and the nation’s international investments, will fall under the new entity
Following a pandemic-driven plunge, non-oil private sector activity improved in Saudi Arabia, Egypt and the United Arab Emirates
Foreigners account for nearly 3.4 million of Kuwait’s 4.8 million people
Regional governments must undertake key measures to ensure a renewed and sustained approach to economic recovery
Any establishment that does not comply with the midday work ban will face a fine of Dhs5,000 per worker
The measures are aligned with precautions undertaken to ensure the health and safety of customers while ensuring business continuity
The plaza, which will offer refueling and recreational facilities, will cover an area of more than 87,000 square metres
The law will come into effect from July 1, 2020
Mosques across the country are expected to reopen later this week
Women’s wealth in the UAE and Saudi Arabia amounts to $103bn and $224bn respectively
The government is looking to its largest-ever debt programme to keep the depletion of reserves limited to SAR120bn
The government will suspend administrative fines related to bank guarantees provided by media sector owners
A sale could happen as soon as this week and proceeds will be used for general budgetary needs, sources said
Domestic flights are also allowed to resume in the kingdom
The measures include a 50 per cent reduction in the fees to register suppliers
The decision to increase the number of employees will be reviewed weekly based on the prevailing health conditions
Fifty per cent of these government employees will resume working from the office starting Sunday, May 31
Earlier, offices were permitted to reopen with only 30 per cent of their staff in attendance
The ban will now go into effect from January 1, 2021
Producers have lowered global oil supply by around 14-15 million barrels a day
There will be no restrictions on movement between 6am and 11pm
Employment across the GCC could fall by around 13 per cent due to the impact of the coronavirus
These roles have seen the highest percentage increase in job applications between March and April 2020
As the pandemic forced factories all over the world to shutter and people to stay home, the global economy has plummeted and oil prices have dropped by almost half since the start of the year
Its 2019 revenues dipped 1.9 per cent to Dhs228bn
High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic
Oman has resorted to spending cuts to stabilise public finances
The Business Registration & Licencing (BRL) sector also recorded a 62 per cent increase in auto renewal transactions during the first four months of 2020, compared to the same period in 2019
Bullion has surged 16 per cent this year as the spread of the virus curbed economic growth