Philippines to resume deployment of domestic workers to the UAE from March 31

The deployment of Filipino workers to the UAE has been suspended since 2014

Wealth fund newbie comes into focus in Abu Dhabi’s $1 trillion sovereign hub

ADQ has over 100 employees and its combined portfolio of 90 companies have more than 70,000 people working for them

First Abu Dhabi Bank

First Abu Dhabi Bank approves Dhs8.08bn cash dividends for 2020

The bank recorded a a full year 2020 net profit of Dhs10.6bn

Kuwait Dubai Trade

Dubai’s trade with Kuwait reached Dhs8.52bn in H1 2020

Dubai Customs revealed the figures ahead of Kuwait’s 60th National Day which falls on February 25

UAE Govt retreat

UAE leaders discuss agenda for the next 50 years at government retreat

Leaders also personally honoured the UAE’s Hope Probe team at the retreat

UAE, Qatari delegations meet in Kuwait to follow up on Al-Ula agreement

Saudi Arabia and three other Arab states agreed to fully restore ties with neighbouring Qatar during the 41st GCC Summit

Kuwait seeks approval to use wealth fund to finance deficit

The government’s also attempting to push through parliament legislation allowing it to tap international bond markets

Online F&B sales in UAE rise 255% in 2020 – Dubai Chamber

The value of online food and beverage sales in the UAE is projected to reach $619m by 2025

Aramex

Dubai Economy partners with Aramex to offer customised solutions for startups, freelancers

Aramex will provide DED Trader licence holders with Domestic and International Express delivery solutions, and comprehensive freight services and logistics assistance

Sharjah’s Sheraa sets up new startup studio to support entrepreneurs

The studio, which will work on a revenue sharing model, will support founders in the early stages of setting up their businesses

Kuwait health minister

Kuwait warns of tougher restrictions if Covid-19 precautionary measures are not followed

Health clubs, salons, barbershops, celebration halls and tents are already closed in the country

UAE’s Ministry of Energy and Infrastructure

UAE Ministry of Energy and Infrastructure implements projects worth Dhs11.8bn

The ministry said that it is implementing 129 development projects as part of a five-year plan

Abu Dhabi Chamber inks cooperation agreement with Tel Aviv counterpart

Both sides will jointly work to extend cooperation in a number of investment sectors

Saudi to only award government contracts to firms that have an HQ in the kingdom

The new decision, which does not apply to private sector firms, will take effect from January 1, 2024

SAUDI-HEALTH-VIRUS

Saudi extends Covid-19 restrictions; gyms, cinemas to remain closed for another 20 days

The restrictions were initially put in place on February 4 for a period of 10 days

Abu Dhabi launches programme to attract expatriates

The ‘Thrive in Abu Dhabi’ initiative invites foreigners and their families to settle down in the capital emirate

AlUla agreement: What does resetting ties with Qatar mean for the GCC region?

The resumption of ties with Qatar by Saudi Arabia, the UAE, Bahrain and Egypt will boost the regional economy with certain sectors set to witness a significant impact

Brexit and the GCC – What lies ahead?

With Brexit having come into full effect on January 1, how will the UK’s ties with the GCC evolve?

Exchange house in UAE fined Dhs504,000 by Central Bank

The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework

Covid-19: Sharjah announces remote working for federal employees

The direction comes into effect February 14 onwards

Saudi economy grew 2.8% in fourth quarter as Covid impact eased

Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity

UAE-HEALTH-VIRUS Sharjah

Covid-19: Sharjah announces restrictions, cuts capacity at malls, gyms and cinemas

Cinemas and entertainment centres as well as gyms and fitness centres are permitted to operate at 50 per cent of their total capacity

First female Emirati common law judge appointed in Dubai’s DIFC Courts

Four new judges have been sworn in at the Dubai International Financial Centre (DIFC) Courts

UBS study: 51% of UAE investors expect economy recovery in H1 2021

Covid-19 remains the top concern for UAE investors, followed by climate change

Kuwaiti MPs urge the government to relax Covid-19 restrictions or compensate businesses

Health clubs, salons and barbershops have been closed for a month, while malls and shops need to stay shut from 8pm until 5am

Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange slashes trading fees by 22%

The value of securities traded on the exchange increased 28 per cent to Dhs72.8bn in 2020 from Dhs56.8bn in 2019

One of world’s richest nations taps wealth fund as cash dries up

To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund

Dubai Customs

Dubai trade with Indonesia reaches Dhs5.4bn in 2020

It included Dhs4.42bn of imports, Dhs600m of exports, and Dhs380m of re-exports

Sheikh Mohammed bin Rashid Al Maktoum Invest in Dubai

Sheikh Mohammed launches ‘Invest in Dubai’ platform to ease process of establishing businesses

The centralised portal offers services such as commercial licensing in which government permits and approvals can be obtained without the need to physically visit any service centre