The UAE recently declared a cancellation of all business license fines where such licenses have been delayed or terminated. Small and Middle Enterprises can now rest assured that upon late renewal or expiration of their business licenses, they will not have to pay a fee for their oversight. The
Middle East
The United Arab Emirates has expressed complete displeasure about the acting head of mission of the European Union, Joseph Borrell, statements. The country considered the message to be racist, discriminatory, and inappropriate. The UAE has summoned Joseph Borrell for an explanation of his comments. What are the Details of Joseph Borrell’s Remarks The European Union
The United Arab Emirates has declared its full support for Saudi Arabia in its quest for global energy stability, security, and world peace. This news follows the bitter lash back by some countries about OPEC+’s decision to cut oil production to two million barrels daily. Why has the UAE Chosen to Stand by Saudi Arabia […]
In a bid to advance respective national development, the UAE and Russia have initiated bilateral cooperation to boost the tourism sector, trade volume, and economic development. This move comes at a time when both countries are working eagerly to ensure regional security and stability. All You Need To Know About The Bilateral Development Sheikh Mohammed […]
Following the OPEC+Â announcement for countries to reduce oil production to two million barrels daily, Saudi Arabia has moved to cut down its oil production. This move comes a little after the President of America, Joe Biden, visited the country to request for oil production increase. What are the Specifics of the Oil Cut In a […]
A physical Bitcoin (BTC) ETP is set for debut in Dubai. This unprecedented move aims to attract investors and further boost the Middle East’s keenness and receptiveness of cryptocurrency and other related products. What are the Details of the Listing? Cryptocurrencies are traditionally known for their digitalized and intangible nature, hence their widespread appeal.
Dubai recently announced that the General Directorate of Residency and Foreigners Affairs (GDRFA) would provide all its services through online platforms, specifically biometric authentication. As soon as all things necessary are put in place, residents can steer clear of physical verification processes when going in and out of the country. Why has Dubai Implemented a
Why Tech Companies in the Middle East Are Making Esgs a Priority Today : Environmental, Social and Governance (ESG) investments have gained momentum across companies. The principles offered by ESGs have helped investors and CEOs maintain a conscientious approach to running their companies. These principles are achieved by presenting a form of investment that prioritizes
The Public Investment Fund (PIF) of Saudi Arabia has officially executed its first green bond issuance. The sovereign wealth fund announced that it raised about $3 billion from the issuance, and the proceeds will be used to fund sustainable projects. The PIF sold 100-year green bonds at a yield of about 6.7%. However, two other […]
Days ago, the Saudi Arabian and Qatari governments reviewed a joint business strategy targeted at the private sector. Khalid Al-Falih, Saudi Arabia’s Minister of Investment, engaged members of the Saudi-Qatari Business Council on the progress made regarding establishing strong private-sector ties in both countries. The meeting was held in the headquarters of the
Remittance is the sending of money by a migrant to his home country via electronic transfer, cheques, or drafts. In 2019, about 800 million people in the world received remittances. However, even though many people are recipients of international remittances, the industry is still fraught with issues that do not make international remittances as beneficial as […]
Bahrain Attracts $921 Million FDI in the First Nine Months of 2022 : Bahrain recently announced that it attracted $921 million in Foreign Direct Investment over the first nine months of this year. The Bahraini Economic Development Board (EDB) made a detailed announcement last week. This development comes after Bahrain recorded an $88 million revenue surplus in the […]
Bahrain and Israel recently announced that they are in talks to establish a free trade agreement. Israel’s Ministry of Economy disclosed the news. The Israeli Economy Minister, Orna Barbivai, stated that the free trade agreement would help strengthen commercial ties and diplomatic relations between Israel and Bahrain. It is equally expected to eliminate trade
UAE Signs Energy Security Agreement with Germany : The UAE president Sheikh Mohammed bin Zayed al Nahyan has signed an energy agreement with Olaf Scholz, the chancellor of Germany. The agreement is expected to accelerate industrial growth, enhance decarbonisation, and promote energy security. Under the agreement, the Abu Dhabi National Oil Company (ADNOC) will supply
Poly – the global outfitter of pro-grade audio and video devices for anywhere, anytime meetings – is equipping the Middle East region with cutting-edge technology to facilitate the new hybrid work environment that businesses across the region are increasingly embracing; following the pandemic and as the transition to digital transformation intensifies. The leading global
The UAE has initiated a paperless tax refund scheme for tourists. This move is strategically implemented to eliminate the need to retain receipts. It also contributes its own quota to reducing environmental degradation brought on by the manufacturing and disposal of paper. Specifics of the Paperless Tax System The UAE paperless tax system is a […]
The Taliban administration in Afghanistan recently announced its intention to give force to the final contract to award the running and control of its airport to the state-owned GACC holdings in the UAE. This contract is primarily influenced by the Afghanistan government’s need to boost the country’s economic activities. Why UAE wants to enter the Agreement
The US has recently begun developing a military testing facility in Saudi Arabia to safely experiment with military-related inventions in open spaces within the country’s territory. The development of this facility is said to be the starting point of a deeper military relationship between both countries. Red Sands Integrated Experimentation Center _ What Is this?
Saudi Arabia makes a surprising move to slash crude oil prices for Asia and Europe by nearly $4 per barrel, the first tangible oil price slash in four months. This news comes when the country’s oil prices are at an all-time high. What are the Details of the Oil Price Reduction On September 6th, Saudi […]
Bayan Tree Spa, a multinational luxury company, has designed itself to spread its tentacles to the Middle East by establishing a branch in Doha. The spa aims to bring satisfaction to travelers and guests seeking comfort. This move by Bayan Tree seems wise, given that the Middle East is often a tourist attraction center. What […]
