Press Dossier   By Date  09/01/2021
UAE-Qatar ties: All land, sea and air ports to reopen today
The UAE will reopen air, land and sea borders with Qatar starting Saturday, state news agency, Wam announced.
Expats welcome end of ban on running Saudi firms
Expat workers and business people have welcomed a Saudi government decision allowing foreign nationals to run Saudi-owned firms, saying the move will strengthen and broaden economic activity in the Kingdom.
'Best stimulus': UAE-Qatar trade restart to boost regional investments
The UAE’s decision to resume trade relations with Qatar has been received with great optimism among the business community here, as the historic deal is poised to see resumption of previous investment and trade opportunities between nations.
World Bank revises UAE GDP growth to 2.4% in 2022
The World Bank has revised slightly downward its economic growth forecast for the UAE to 2.4 per cent in 2022, hinting the recovery would be subdued after a contraction of 6.3 per cent in 2020 and a 1.0 per cent surge projected for this year.
Oil hits 11-month highs on Saudi cuts, shrugs off US turmoil
Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia’s unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States.
ENGIE’s Saudi expansion ‘firmly on track’
ENGIE, the France-headquartered energy and services conglomerate, said this week that its expansion in Saudi Arabia is firmly on track, with its asset and project value in the Kingdom valued at over $8 billion, and plans to invest in assets worth an additional $6.34 billion by 2025.
Saudi Arabia cracks down on off-plan sales violations
Saudi Arabia has clamped down on 61 projects that failed to observe off-plan sales regulations, the Ministry of Housing revealed.
Oman begins implementing value-added tax in April, excluding 94 food items
The Tax Authority today issued three executive decisions pertaining to the implementation of the Value Added Tax (VAT), which will enter enforcement stage by April 16, 2021, according to the Oman News Agency, which has revealed that 94 mostly food items have been exempted from tax.
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