Emirates Development Bank

UAE’s Emirates Development Bank partners with YAP to launch business banking app for SMEs

The EDB Business Banking app is free to open and has no minimum balance criteria

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed creates new authority to oversee three Dubai freezones

The new entity will now oversee the operations of Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City

How Abu Dhabi is beckoning global talent for its long-term future

The emirate’s growing favourability among tourists, families and investors can be attributed to its focus on inclusion, innovation and diversity

Kuwait says foreigners on commercial visit visas can switch to work permits

Thousands of expats have left Kuwait this year and have been unable to return to the country due to the pandemic

National Bank of Fujairah

UAE’s National Bank of Fujairah launches electronic trading platform

The new platform is available for both conventional and Shariah-compliant banking customers

Covid-19: Sharjah updates guidelines for social and home gatherings, weddings

Attendance at all the events is limited to people who are fully vaccinated, and who can present the green pass status on the Alhosn app

UAE: Driving net-zero aspirations with public-private partnership support

Engaging the private sector, public sector, and all other stakeholders is imperative

UAE seeks $1 trillion in business with Israel over next decade

The UAE was looking at sectors including defense, energy and food security

UAE non-oil trade

UAE’s non-oil trade recorded at Dhs1.403 trillion in 2020

The UAE’s non-oil exports grew 10.1 per cent year-on-year in 2020 to Dhs254.6bn

Kuwait’s expat population down by 56,000 in the first half of 2021 – report

The total number of expats in Kuwait stood at 3.154 million at the end of June

Dubai Chamber

Dubai Chamber exports, re-exports grew 21.8% to Dhs147bn in January-August 2021

Chamber members’ exports and re-exports to the GCC countries during the first eight months of the year increased 16.4 per cent year-on-year to Dhs79.6bn

Projects of the 50: UAE aims to create 75,000 private sector jobs for Emiratis

Several incentives have been unveiled to encourage UAE nationals to join the private sector including salary top-ups and unemployment benefits

Why good governance makes sense for family businesses

Adopting a robust governance framework offers a roadmap for businesses to move forward

UAE to grow trade ties in Asia and Africa

The Gulf state will expand economic ties with countries including South Korea, Indonesia, Kenya, Ethiopia and Turkey

Cover story: Why Virtuzone’s executives believe startups must emulate UAE for long-term success

The UAE has meticulously crafted its position as a startup hub, and similar to any venture, the path to reach the top has not been easy. In an exclusive, business setup company Virtuzone’s leaders elaborate on why they are convinced by its proposition

UAE announces new initiatives, including visa changes and new data law

A new green visa has been launched to offer more flexibility to expats in the UAE

UAE to announce 50 new national projects in September

The project announcements will commence on September 5

UAE and Uzbekistan: Heralding a new era

As Uzbekistan hosts its first-ever independent pavilion at Expo 2020 Dubai, the country’s ambassador to the UAE Bakhtiyor Ibragimov reveals why he is confident about stronger ties with the UAE

china-arab states expo

China-Arab States Expo closes with $24bn worth of deals

The fifth edition of the biennial China-Arab States Expo was held in China’s Ningxia Hui Autonomous Region from August 19-22

Abu Dhabi’s Mubadala Capital closes private equity Fund III with commitments of $1.6bn

Fund III raised capital commitments from leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms

Saudi Arabia to extend residency permits for expats stranded outside the kingdom

It will be extended automatically and at no additional cost

Kuwait asks ministries to cut spending by 10% amid budget gap

The OPEC member posted record $36bn budget deficit in 2020

Kuwait masks

Kuwait considers reducing visa fee for residents aged over 60

The country had earlier banned the issuance of work permit renewals for expatriates aged 60 who do not hold university degrees

Taliban set to retake Afghanistan after two decades

The Taliban swept through Afghanistan in a matter of weeks, taking world leaders by surprise as they entered a vacuum created by departing US and NATO forces

Abraham Accords: What has been the biggest impact so far?

Prominent Israeli leaders voice their thoughts on the major changes they have seen in the last year

Explainer: Are physical events making a comeback in the GCC?

Events that are the leaders in their sector will probably recover quicker as customers will reduce the number of exhibitions they attend, opines Andy White, senior vice president, dmg events

Saudi Arabia Riyadh

Saudi Arabia issues highest-ever number of foreign investor licences in a single quarter

It issued 478 licenses in Q1 2021, a 36 per cent increase over the corresponding period last year

Saudi Arabia’s budget deficit narrows in second quarter on oil, taxes

Spending on health and social development rose 20 per cent

Abu Dhabi

Abu Dhabi to allow 100% foreign ownership of professional companies

The new licences will cover 604 activities across many fields including accounting, training and consultancy

UAE business conditions at two-year high as virus woes ease

A Purchasing Managers’ Index compiled by IHS Markit rose to 54 in July from 52.2 in the previous month