Covid-19: Kuwait ends quarantine for vaccinated travellers, eases some restrictions

Restaurants and cafes can offer dine-in services starting from Sunday, May 23

Oman’s National Gas Company terminates CEO

Covid-19: Oman lifts movement ban, commercial activities resume with some restrictions

The number of visitors to commercial complexes and restaurants will be capped at 50 per cent of capacity

FDI UAE

UAE FDI inflow climbs over 44% to $19.88bn in 2020

FDI outflows meanwhile amounted to $9.2bn and covered various vital economic sectors

Dubai Economy

Dubai business growth back to pre-covid path – report

The private sector, excluding oil, grew for a fifth-straight month in April, according to IHS Markit

UAE: All federal government employees to return to work

Female employees with children enrolled in distance learning will be exempted until the end of the current school year

Dubai shares gain amid property recovery optimism

The Dubai Financial Market General Index jumped 0.8 per cent as Emaar advanced as much as 2.8 per cent

RTA

Free parking in Dubai, Abu Dhabi during Eid holidays

Parking tariffs across Dubai and Abu Dhabi will resume on Shawwal 4

Abu Dhabi IHC

Abu Dhabi’s International Holding Company to list three subsidiaries on ADX Second Market

They will be listed on the exchange’s Second Market in Q2 2021

Dubai Airport Freezone Authority

Dubai Airport Freezone Authority’s non-oil foreign trade crossed Dhs119bn in 2020

China was DAFZA’s biggest trading partner accounting for 27 per cent of all trade valued at Dhs32.3bn

The impact of VAT on the Omani economy

GCC states have the discretion to zero rate and exempt certain categories of supplies and Oman has used this discretion

Saudi private-sector employment rises for first time this year

PMI in the United Arab Emirates rose to 52.7 from 52.6 in March, the highest since July 2019

Abu Dhabi Ports

Abu Dhabi Ports issues $1bn 10-year bond

The issuance was more than 4.5 times oversubscribed

GCC: How sustainable urban development can lead to smart city environments

Cities represent 54 per cent of the world’s population today, a figure which will grow to 70 per cent by 2050

Why setting net-zero carbon standards is imperative for mitigating climate change

Adopting smart energy and building management systems can not only reduce carbon emissions, but also reduce electricity bills significantly

UAE’s Environment Ministry to reduce or waive fees for 50 services from May 1

The fee for the permit to use the ‘Organic’ logo for organic products (previously Dhs5,000) will be waived

Saudi Arabia Alula

Saudi Arabia: How AlUla’s development reverberates a message of inclusion, sustainability and culture

The ‘Journey Through Time’ Masterplan is an enormous opportunity for the local residents

Saudi Crown Prince discusses Vision 2030, reveals plan to sell Aramco stake to energy firm

The kingdom has no plans to introduce an income tax, Prince Mohammed confirmed

Ajman Free Zone

Ajman Free Zone registered 1,717 new companies in 2020

Offshore companies comprised 11 per cent of the total number of new companies

Emirates NBD

Emirates NBD Capital records strongest ever quarter in debt capital market

Emirates NBD Capital led 24 transactions in Q1 2021 raising over $18bn

ADCB

Abu Dhabi Commercial Bank reports Dhs1.121bn in Q1 net profit, up 436 per cent y-on-y

Operating expenses of Dhs1.061bn decreased 20 per cent year-on-year and 1 per cent sequentially

UAE plans to include 10 new sectors to the companies law, allowing for 100% foreign ownership

The list of sectors and the regulations associated with their entry into the local market will be announced by the UAE Cabinet ‘soon’

Saudi Arabia seeks to speed privatisations to help ease deficit

Saudi Arabia raised $800m from the recent sale of two flour mills, which followed two other mill sales of $740m last year

Hana Al Rostamani FAB

FAB Q1 group net profit at Dhs2.5bn; initiates share transfer to acquire Bank Audi sae Egypt

The acquisition will make FAB one of Egypt’s largest foreign banks by assets with pro-forma total assets of over $8.5bn

Dubai Islamic Bank Nasdaq Dubai sukuk

Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

DIB is the leading UAE-based sukuk issuer by value on Nasdaq Dubai with a total value of $6.3bn listed on the exchange

KUWAIT-HEALTH-VIRUS

Kuwait curfew extended until end of Ramadan, cinemas prepare to open for Eid

The partial curfew will continue to be in place from 7pm until 5am

Several Israelis could move to the UAE to work – senior official

A quarantine-free travel corridor between the two countries will be set up very soon, says Fleur Hassan Nahoum, deputy mayor of Jerusalem

Sharjah Islamic Bank

Sharjah Islamic Bank operating profits up 27% in Q1 2021

Net profit for the three months ended March 31, 2021, amounted to Dhs164.2m, compared to Dhs153.7m for the corresponding period last year

Qatar stocks surge on plans to allow full foreign ownership

The cabinet approved a draft law that will allow overseas investors to own up to 100 per cent of listed companies

Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed launches National Behavioural Reward Programme

It aims to incentivise positive behaviour through a point-based system that can be used in payments for government services

Alan’s corner: Here’s how regional companies must shape their vision and mission

An organisation’s vision and mission statements must provide context for all its decisions and action