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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

UAE launches work permits for Golden Residency holders

    • Golden Residency visa was created last year for professionals, specialized degree holders

    • HR ministry lays down criteria for work permits

    The UAE government has said it will start issuing work permits for Golden Residency holders.

    Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum had in November 2020 announced that the UAE had approved a “Golden” visa grant allowing 10-year residency for professionals, specialized degree holders and others.

    Eligible for the Golden Residency were “all holders of doctorate degrees, all doctors, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, outperforming accredited universities in the country at a rate of 3.8 and more.

    The Ministry of Human Resources and Emiratisation said work permits are needed in three cases.

    First, those who were unemployed when they received their Golden Residency, and wish to start working for a certain employer. Second, those Golden Residency holders who plan to start working for a new employer, and the third is when a current employer wishes to renew the work permit and contract of a Golden Residency holder.

    The same rules apply to those persons who are registered as dependents of Golden Residency holders, are Golden Residency holders themselves as a result, and intend to apply for work.

    Work permits and contracts concluded between employers and workers who receive the Golden Residency will remain valid, and subject to all applicable UAE legislations.

    According to the ministry, fees prescribed and applicable fees for work permits for those outside the country, as well as fees for renewing and amending work permits and contracts, will also be applicable to Golden Residency holders.