UAE-Bahrain trade returning to pre-Covid levels, H1 figures show

Trade between two countries hits $139.6m in June, highest since pandemic struck

DGA

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT

Dubai fines 5 businesses, warns 3 for flouting Covid protocols

The violating establishments were from Nadd Al Hammar, Port Seed and Naif

Galerija-Belgrade-3-852x568

Eagle Hills’ $3bn Belgrade Waterfront project ‘not profit-driven’ – Alabbar

Alabbar, founder of UAE-based Eagle Hills, was speaking at the pre-opening of the mega Galerija mall

Saudi Arabia extends Covid salary aid programme in reduced form

The programme originally covered 70 per cent of Saudi employees in firms with over five workers

Israel seeks 100,000 UAE tourists a year after landmark pact

A record 4.5 million tourists visited Israel in 2019

Dubai Economy fines 10 businesses, warns 11 for flouting Covid-19 guidelines

The violating establishments included four gyms and six retail outlets

remittances

UAE expat remittances amounted to Dhs79.6bn in H1 2020

India was the biggest recipient country of these remittances followed by the Philippines, Pakistan, Bangladesh, Egypt, and the US

Ras AL Khaimah

Ras Al Khaimah’s manufacturing sector exports grew 58% in 2019

A total of 137 countries imported products from Ras Al Khaimah

G20 leaders’ summit, set for Riyadh, to now be held ‘virtually’

The agenda this year will focus on protecting lives and restoring growth

Dafza Israel

Dubai Airport Free Zone Authority signs agreement with Israeli Chamber of Commerce

DAFZA will provide incentives to Israeli companies wishing to establish their businesses within the emirate

Kuwaiti minister of Public Works and minister of State for Housing Affairs Rana al-Fares

Kuwait’s Public Works minister to terminate all expat employees – report

While 150 expats have been fired, another 400 are expected to receive termination letters, local media reported

Mustapha Adib Lebanon

Lebanon PM-designate steps down, unable to form government

Mustapha Adib quit on Saturday after a meeting with President Michel Aoun in Baabda near the capital, Beirut

Abu Dhabi Saudi Arabia

Non-oil trade between Abu Dhabi and Saudi Arabia amounted to Dhs493.8bn over last decade

Last year, the emirate’s exports to Saudi Arabia grew 156.7 per cent to Dhs25.76bn from Dhs10.03bn in 2010

Dubai

Non-oil trade between Dubai and Saudi Arabia amounted to Dhs500bn over last decade

In H1 2020 alone, Dubai’s external trade with Saudi reached Dh24bn

KUWAIT-INDIA-HEALTH-VIRUS amnesty

Kuwait’s National Assembly panel passes law to reduce expat numbers

The draft law gives the government six months to determine the number of expats needed by the country

ADNOC Mubadala ENEC

Abu Dhabi’s ADNOC signs agreement with Mubadala, ENEC to partner on In-Country Value programme

The ICV programme has already driven more than Dhs44bn ($12bn) back into the UAE’s economy and created over 1,500 private-sector jobs for Emiratis

UAE’s Al Habtoor Group chairman meets Israeli conglomerate CEO; reveals plans to open office in Israel

The chairman had previously disclosed that the group had launched talks with Israir Airlines to open direct commercial flights between the UAE and Israel

Dubai closes café; fines 7 businesses, warns 5 for flouting Covid-19 guidelines

As many as 660 businesses were found fully compliant with the precautionary guidelines

SMEs lead post-Covid recovery in Bahrain

Individual commercial registrations in Bahrain are up by 109 per cent in June

UAE-HEALTH-VIRUS Dubai

Dubai fines 12 businesses, warns 5 for flouting Covid-19 safety measures

These fines were levied on establishments in Wadi Al Safa 7, Al Hebiah Second, and Al Rashidiya

Abu-Dhabi

Abu Dhabi Investment Office to open first international branch in Tel Aviv

ADIO will subsequently open offices in Europe, North America and Asia

KUWAIT-PARLIAMENT-POLITICS

Covid-19 update: Kuwait postpones fifth phase of reopening, 8 MPs test positive

Activities that were scheduled to resume in the fifth phase included restoring family gatherings, exhibitions and the reopening of cinemas

Emirates NBD

Dubai’s Emirates NBD enters into MoU with Israel’s Bank Hapoalim

The agreement will allow Israeli clients to transact directly in the UAE

Closed Covid Dubai

Restaurant shut in Dubai’s Blue Waters for flouting Covid-19 regulations

Authorities are carrying out daily inspections to ensure adherence to Covid-19 precautionary measures

Abu Dhabi Ports

Abu Dhabi Ports announces expansion of Khalifa Port is on track

The expansion will substantially increase handling volumes by providing additional deep-water access and enhanced infrastructure

Dubai Mall

Covid-19: Police issue fines and warnings at Dubai Mall, Mall of the Emirates

The inspections were carried out over the weekend at four malls across Dubai

UAE-HEALTH-VIRUS Dubai

Dubai closes restaurant, fines gym for not adhering to Covid guidelines

Daily inspection visits are being carried out across the emirate, officials confirmed

Kuwait parliament approves state budget with $46bn deficit

Kuwait’s deficit last fiscal year widened to KD5.64bn, up almost 69 per cent from a year earlier

Oman to tap investors to plug budget deficit

Besides signing a bridge loan for OMR770m and issuing OMR550m in development bonds this year, Oman has also been tapping its reserves and privatising some assets