New platform to revolutionize global sustainability
World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...Economy Climate Change
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...Economy
Dubai increases ease of doing business by more than half
This was more than double the target of 30 percent reduction in business setup procedures that the emirate had set...The move is said to be part of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s vision to make the emirate economically attractive
The vision looks to achieve this by helping entrepreneurs set up and run businesses much more easily
Maersk lands Saudi deal
Maersk will set up a Logistics Park at Jeddah Islamic Port.Maersk will set up an Integrated Logistics Park at Jeddah Islamic Port, investing more than SAR500m
The agreement is a step to make Jeddah Islamic Port among the top ten ports in the world by 2030
Israel eyes influx of tourists from UAE, Bahrain
Israel is anticipating a significant influx of Emirati and Bahraini tourists as the global tourism industry starts recovering from the...Israel expects 100,000 tourists a year from the UAE and Bahrain, with each tourist spending $1,500 per vacation
The Jewish state is expected to make $150 million annually in revenues from the Gulf tourists
Bahrain launches five-point plan to boost economy
The new five-pillar plan apparently aligns with Bahrain’s Economic Vision 2030 and its intention to achieve net-zero carbon emissions by...The multi-year plan is said to represent one of Bahrain’s largest economic reform programs
It apparently aims to enhance the economy’s long-term competitiveness and support the post-Covid-19 recovery
Masdar City and ADRO facilitating Golden Visas for eligible persons
Masdar City Free Zone has been facilitating the processing and submission of Golden Visas for eligible persons and their families...The Golden Visa is a 10-year residency for certain professions including specialized degree-holders and others.
Golden Visa is of particular relevance to Masdar City as it hosts more than 900 companies, says Executive Director Abdulla Balalaa.
UAE payments industry expected to reach $14 billion by 2030
The UAE's payments industry, like several other countries in the world, suffered an impact far less severe than initially anticipated...Like other countries, the industry in UAE suffered the Covid-19 impact less severe than anticipated, according to Boston Consulting Group.
The national payment revenues in the UAE expected to grow by 67 percent between 2020 to 2030.
Bahrain to deport a number of illegal expatriate workers
The violators were arrested during a clampdown conducted in the Muharraq governorate by the LMRA Labor Inspection Directorate.They are to be deported in compliance with the law, Bahrain’s Labor Market Regulatory Authority or LMRA has said
It has also said it would step up such inspections in cooperation with competent authorities within the joint efforts with the Ministry of Interior
UAE fines, imprisons several for financial crimes
A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for...In one case, the former employee of a Dubai bank was convicted of embezzling more than AED5.23 million (around $1.42 million)
The money belonged to real-estate development companies and was deposited with the bank
Egypt sees Red Sea tourism rush from Russia
Russian tourists are finally returning to the Red Sea resort of Sharm el-Sheikh six years after a terrorist strike.Russian tourists are beginning to return to Sharm el-Sheikh six years after a terror attack
The 2015 attack had seen the downing of a Metrojet plane that killed 224 mostly Russian passengers
Roundup: Four Gulf states pull diplomats from Beirut
This is bad news for Lebanon, which had been counting on financial assistance from the Gulf to rescue its economy....The row has already seen Saudi Arabia ban the imports of Lebanese goods and Kuwait and Bahrain expel Lebanese envoys
It is a blow to a country already in the grip of crippling political and economic crises
