Bahrain, Manama, Cityscape view of Bahrain World Trade Center and Bahrain Financial Harbor

Bahrain got first funds from GCC aid last year

Saudi, Kuwait and the UAE pledged to give $10bn to Bahrain to avoid the risk of a debt crisis

Kuwait to boost spending, eyes oil price at $55-$65 per barrel

Kuwait said the new plan aims to drive economic growth by maintaining a capital expenditure ratio of 17 per cent of the budget

Saudi government says 99% of private sector contractors paid within 60 days

The kingdom’s finance ministry says it remains committed to making payments on time

Cryptocurrency, SME platform among initiatives launched by Saudi-UAE alliance

The seven new measures cover integration in the fields of financial markets, tourism, aviation, entrepreneurship, customs and security

Here’s why the global economy is headed for a recession in 2019

A hard landing is likely unless something happens to kickstart global growth, writes Reuters columnist John Kemp

Saudi to begin construction at $500bn NEOM development in 2019

The work on the first phase of NEOM Bay, an urban project, will be completed in 2020

Dubai skyline

Dubai’s non-oil sector growth eases, with job cuts in construction, travel and tourism

The Emirates NBD Dubai economy tracker index fell to its second-lowest reading in over two years in December

UAE and Oman to be ‘fastest growing economies in GCC’ – report

A report by the IIF predicts real GDP growth of 3.1 per cent for both countries in 2019

Different Arab money

Startup funding up by 31% in MENA region to reach $893m in 2018

A total of 366 investments were made in regional startups by 156 institutions last year

Pakistan says UAE’s financial assistance to shore up economy

Abu Dhabi’s Crown Prince Sheikh Mohammed visited Islamabad on Sunday and confirmed a $3bn loan package

UAE’s real GDP ‘to grow 3.7%’ in 2019

The IMF’s latest outlook figures predict growth in the UAE but decline in the US and China

Sheikh Mohammed issues eight principles of governance in Dubai

Dubai is a business capital that will continue to attract new talent and focus on economic diversification, says ruler

Five industries to watch for future investments

Are these industries on the cusp of a boom?

Dubai issues 1,882 ‘instant’ business licences in 18 months

The instant licences are issued within five minutes

Saudi cabinet approves space agency, new entities for military industries and trade

Plans for the Saudi Space Agency were first announced last week as part of a cabinet reshuffle

Dubai reveals 2019 budget with marginal rise in spending, support for SMEs

The government expects to generate Dhs51bn in public revenues, an increase of 1.2 per cent

Oman to boost spending modestly in 2019 budget

Spending is projected at OMR12.9bn, up from OMR12.5bn in the original budget for 2018

Saudi’s economy grows at its fastest rate since early 2016 in Q3

Gross domestic product grew 2.5 per cent from a year earlier

Pakistan to get $3bn loan from UAE, eyes deferred oil payments

The UAE deposit is aimed at supporting Pakistan’s monetary policy

Saudi says ‘comfortable’ with oil prices as it reveals its largest ever budget

The kingdom expects cash settlements from its anti-corruption purge to generate roughly SAR50bn in 2019

Foreign investment in Saudi more than doubled in 2018

Five sectors of the Saudi economy are prepared for privatisation in the first quarter of 2019

Saudi minister: No plan to change expat fee policy

The private sector has lobbied for the fee rises to be delayed

Saudi boosts spending in 2019 budget to spur sluggish economy

Spending is projected to rise to SAR1.106 trillion ($295bn) next year

Saudi King orders extension of ‘cost of living allowance’ for another year

The allowance is given to state employees, military personnel, retirees and students to offset rising costs

UAE sets up new fund accelerator for start-ups

A total of 25 local and international companies will be selected by the fund

UAE tops MENA for wage equality, Arab region remains world’s least gender-equal

It will take the MENA economies “153 years to close the gender gap at the current rate of change”

Dubai issues 1,748 new business licences in November

The DED has issued a total of 27,609 new licences between January and November this year

New SME district launched in Dubai’s Al Seef

The hub will focus on SMEs in sectors including design, fashion, F&B and information technology

Bahrain’s new parliament readies austerity push

The country plans to implements reforms to subsidies and pensions to avert a debt crisis

Abu Dhabi to exempt all new economic licences from local fees for two years

Municipality fees for 98 services will also be cancelled or reduced