How are SMEs driving economic growth in Saudi Arabia?

At the forefront of Vision 2030, SMEs are diversifying the economy as the kingdom competes in a global arena

Sheikh Mohammed approves new board of Dubai Chambers

The board will work to create a comprehensive unified strategy for Dubai Chambers

What should come next for debutant board members

The first board meeting is obviously when the learning curve is steepest

Can consumers drive the post-Covid recovery?

There are increasing hopes that the reopening of economies will generate a powerful consumer-led recovery

Sheikh Mohammed announces countdown for Expo 2020 Dubai

Countries will not be clustered by their geography, but under Expo 2020’s three subthemes of Opportunity, Mobility and Sustainability

Kuwait’s $134bn pension fund has record gain in turnaround

The $134bn pension fund recorded 20.9 per cent growth in assets in the year ended March 31

Oman

Oman to introduce new long-term residency programme for foreign investors

Starting September 2021, the Investment Residency Programme will offer renewable five and ten-year visas subject to applicants meeting specific criteria

E-commerce

UAE retail e-commerce market reaches $3.9bn in 2020

In 2020, the apparel and footwear category had the highest share of 33 per cent ($1.3bn) in the UAE retail e-commerce market

Dubai UAE

Dubai repays 10-year $500m bond certificates

The 10-year note, under the Euro Medium Term Note Programme, reached maturity on June 22, 2021

UAE Central Bank sees inflation picking up in second half

Gross domestic product is seen rising 2.4 per cent this year

Nasdaq Dubai Indonesia Government

Indonesian government lists three sukuk valued at $3bn on Nasdaq Dubai

The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn

Saudi non-oil economy rebounded to 2.9% growth in first quarter

In the first quarter, Saudi Arabia’s non-oil economy grew at its fastest pace since 2019

Netanyahu’s reign over as Israel ushers in fragile government

The new coalition will govern with the slimmest majorities – commanding 61 of parliament’s 120 seats

Google startup accelerator

How Dubai Next can be a gamechanger for the startup ecosystem

Here’s how the platform can help champion innovation and reduce the failure rate among startups within the region

Dubai external trade

Dubai’s non-oil external trade grows to Dhs354bn in Q1 2021

China remained Dubai’s largest trading partner in Q1 2021, with Dhs44bn worth of trade

Emirates Development Bank

Abu Dhabi’s Emirates Development Bank closes $750m five-year bond

This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme

Emirates-NBD

Emirates NBD lists $750m bond on Nasdaq Dubai

Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn

Saudi business activity expands at fastest pace since 2017

The kingdom’s Purchasing Managers’ Index survey compiled by IHS Markit rose to the highest since January

Abu Dhabi Ports

ADX lists $1bn bonds issued by Abu Dhabi Ports

The exchange’s market capitalisation increased 27 per cent during the first quarter of 2021 to Dhs940bn

Alliance forms Israeli government to unseat Netanyahu

In a historic first, an Arab faction is to become part of an Israeli governing alliance

Emirates Development Bank, Commercial Bank of Dubai

Emirates Development Bank, Commercial Bank of Dubai sign MoU for SME lending programme

CBD can offer up to Dhs10m financing to an SME, and 50 per cent of the facility amount will be either guaranteed or co-lent by EDB

UAE-Japan

UAE, Japan to launch business council

Japan is ranked tenth globally among the list of countries investing in the UAE

Oman

Oman: Sweeping relaxation of internal Covid-19 restrictions; entry ban extended for UK, India, Pakistan

Oman’s land borders will be reopened with permission granted to Omanis and GCC citizens residing in the sultanate to cross them

Israel and UAE sign tax treaty in latest normalisation step

The treaty is subject to approval by Israel’s parliament and cabinet

Philippines resumes sending migrant workers to Saudi Arabia

Saudi Arabia is the Philippines’ top destination for migrant labour

UAE Central Bank

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The central bank’s foreign assets increased 0.4 per cent year-on-year

Abu Dhabi increases workplace attendance in government offices to 60%

The directive is effective from May 30, 2021

Sheikh Mohammed reveals UAE created 248,000 jobs last year

Despite a global economic slowdown, the UAE has remained economically resilient, he said

How developing a circular economy requires concerted efforts

Investing in a circular economy isn’t just about protecting the environment, it’s also good business

GCC countries should prioritise economies, citizens and innovation in a post-Covid world

GCC governments need to pursue an aspirational future and bring it to life in a holistic and integrated way