UAE Israel

The UAE reaches trade agreement with Israel

The official signing of agreement is expected to follow in the coming weeks

Emirates Development Bank

Emirates Development Bank contributes Dhs1.91bn to UAE’s GDP

The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors

Saudi Investment

Saudi Arabia makes $5bn deposit in Egypt Central Bank

It is part of the kingdom’s efforts to support Egypt’s economy

First Abu Dhabi Bank to open representative office in Iraq

The UAE is one of Iraq’s most important trading partners, with the value of exported goods totalling over $13.11bn in 2020

Dubai Chamber of Commerce

Over 27,800 companies joined Dubai Chamber of Commerce in 2021

There are now more than 287,000 member companies of the organisation

UAE’s First Abu Dhabi Bank and ADCB deny report of potential merger

The banks issued separate filings to the Abu Dhabi Securities Exchange (ADX) denying the report

Saudi Arabia’s first movie chain plans landmark IPO

Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand

Nasdaq Dubai

Jordan’s Capital Bank lists $100m bond on Nasdaq Dubai

The bond is the first issuance of its kind for a Jordanian bank on the exchange

Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs

UAE Central Bank approves creation of 5,000 jobs for Emiratis by 2026

The Emiratisation plan will apply to managerial positions across the country’s banking and insurance sectors

NAsdaq New York

Dubai’s Shuaa Capital lists $100m SPAC on Nasdaq New York

It has priced its initial public offering of 10,000,000 units of Shuaa Partners Acquisition Corp I at $10 per unit

Gold climbs to highest in more than a year on Ukraine tensions

Spot gold rose as much as 1 per cent to $1,928.80 an ounce, the highest level since January 2021


Bahrain begins construction on United States Trade Zone

The USTZ will be initially spread across approximately 1.11 million sq m and built at a cost of around BHD75m

Dubai International Financial Centre achieves record company registrations in 2021

Last year, the financial centre also recorded its highest ever annual revenue and operating profit


UAE’s Mubadala Capital raises $322m in first investment fund in Brazil

Mubadala Capital manages over $10bn of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses

Gold holds biggest gain since October as investors seek haven

Bullion’s appeal as a store of value is being burnished by risk aversion in markets and a surge in inflation worldwide


Saudi Arabia’s economic growth stays near decade-high as oil powers rebound

The kingdom’s economy expanded 6.8 per cent in the fourth quarter of 2021

Dubai International Chamber to attract 50 multinational companies over three years

It also aims to support the international expansion of 100 Dubai-based companies

UAE corporate tax

UAE to introduce federal corporate tax on business profits from 2023

The Ministry of Finance has set a rate of 9 per cent for taxable income exceeding Dhs375,000

Dubai FDI

Dubai reports Dhs15.9bn of FDI in the first nine months of 2021

It ranked third globally in attracting greenfield foreign direct investments

Sharjah Islamic Bank

Sharjah Islamic Bank’s 2021 net profit up 27% to Dhs514.1m

Its general and administrative expenses at the end of last year stood at Dhs576.8m, compared to Dhs561.5m in 2020

Nasdaq Dubai

Nasdaq Dubai records $23.1bn sukuk and bond listings in 2021

The 30 listings undertaken in 2021 were 15.5 per cent higher than the number of listings the previous year

UAE economy forecasted to grow 4.2% in 2022

The growth in the oil sector’s gross domestic product is set to be at 5 per cent this year

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

Sheikh Mohammed approves Dubai budget of Dhs181bn for 2022-2024

It includes an expenditure of nearly Dhs60bn in 2022

Qatar capital Doha

Qatar pushes Gulf Arab energy company borrowing to record high

Gulf Arab energy firms borrowed $30.5bn in 2021, the highest level in at least 25 years

Warba Bank nasdaq dubai

Warba Bank lists $250m sukuk on Nasdaq Dubai

The total value of the Kuwaiti bank’s sukuk on the exchange stands at $898m

GCC-UK strategic partnership to create jobs and drive economic growth in the Middle East

The GCC and UK already cooperate in many areas including security, foreign policy, trade and investment

Saudi Crown Prince launches masterplan for SAR75bn Jeddah Central project

The project will include four landmarks – an opera House, museum, sports stadium and oceanarium, as well as 17,000 residential units


UAE Central Bank extends economic support measures until June 30

Prudential relief measures regarding banks’ capital buffers and liquidity and stable funding requirements will be extended by six months

Covid-19: Bahrain to move to ‘yellow alert level’ over omicron concerns

The new alert level will be in place from Sunday, December 19, 2021, until Monday, January 31, 2022

UAE salaries to increase by an average of 3% in 2022-report

Up to 74 per cent of the respondents also confirmed that they intend to pay out bonuses in 2022, with 46 per cent looking at offering one- two months’ gross salary