Bahrain emerges as a thriving hub for tech startups
Entrepreneurs equipped with the right skills, a robust business strategy, and the ability to forge meaningful collaborations are well-positioned to...Business Opinion
New UAE law allows employees merge work years for free
Abu, Dhabi, UAE -- A new UAE law contributes to enhancing insured Emiratis chance in obtaining a retirement pension by...Business
Saudi to punish expats who engage in jobs for personal benefit
The punishments could include monetary penalties, imprisonment, and then subsequent deportation.Any self-employed expatriate who engage in jobs for their own personal benefit could be fined SAR50,000 (around $13,300), jailed for six months
The self-employed expatriate would be deported after serving the jail term and the payment of fines
Pakistan invites auto-sector investment at Expo
The Federal Board of Investment of Pakistan has invited auto-sector investors to set up business within the country.The Pakistan government promises a safe and secure environment for foreign investors with legal protection under the Acts of Parliament
It also promises investment opportunities in all sectors of economy for foreign investors with 100 percent equity or joint ventures
Credit insurance firms of UAE and France sign reinsurance pact
DUBAI: Etihad Credit Insurance (ECI), a UAE Federal export credit company, and Bpifrance Assurance Export, a French export credit agency,...Etihad Credit Insurance and Bpifrance Assurance Export will push more Emirate and French projects globally.
The UAE is France’s second-largest trade partner in the region. Non-oil foreign trade between the countries was AED 19.7 billion in 2020.
Ducab unveils new brand identity
The UAE-based company will now focus on providing ‘Energy for change’.The UAE-based company will now focus on providing ‘Energy for change’
The company seeks to generate positive economic, social, and environmental impact
Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in...In the GCC, Saudi Arabia and the UAE were the first to introduce a VAT system in January 2018
Bahrain followed a year later, and Oman brought in the tax in April 2021
Amazon extends its cloud over Middle East
Nearly two years after it set up a base in Bahrain, Amazon Web Services (AWS) has widened its footprint beyond...The new AWS Middle East UAE Region will have three Availability Zones and will be AWS' second Middle East region
Customers with data residency requirements in the UAE can now store their data in the new AWS Region in UAE
Saudi Arabia’s Jabal Omar secures deal to restructure $1.25bn loan
Jabal Omar Development Company, one of Saudi Arabia's largest-listed property developers, has signed a deal to restructure a SAR 4.7-billion...The repayments will begin after a three-year grace period, Jabal Omar said in an exchange filing
As per  the new agreement, the loan’s final maturity has been extended by three years to 2030
Impossible Foods taps Bidfood UAE for local distribution
Bidfood UAE is part of the Bidcorp Group, and has officially been chosen to distribute the Impossible Burger across the...Bidfood will begin to distribute three of Impossible Foods’ plant-based items
These are the Impossible Burger in 1.2-kg and 1.13-kg patties, and the Impossible Burger in bulk format of 2.26 kg
Businesses in UAE will hire more staff in next 12 months: HSBC survey
Companies in the United Arab Emirates are looking to increase their revenues by as much as 50 percent and recruit...The research comes as business conditions in the country continue to improve on the back of easing COVID-19 restrictions and reopening of international travel
UAE businesses are also the most confident globally about driving innovation in product and customer service (67 percent) over the next 12 months
S&P says private sector lending in GCC to stay low, but Saudi Arabia to buck trend
S&P Global Ratings has forecast that private sector lending will remain muted for one to two years in GCC countries....It said that there had been only marginal improvement across GCC banks overall
However, it is also expected that GCC economies will expand at an unweighted average of 1.8 percent in 2021 and 4 percent in 2022
