Saudi Arabia is preparing to implement significant reforms to its business registration system with the new Law of Commercial Register and Law of Trade Names taking effect on April 3. These changes aim to streamline processes for businesses and enhance the overall business environment in the Kingdom. Abdulrahman Al-Hussein, the official spokesperson for the Ministry...
Saudi Arabia has introduced a new incentive package aimed at attracting foreign direct investments (FDI) into its mining sector, which is part of the Kingdom’s ongoing efforts to diversify its economy. This initiative reflects the nation’s commitment to enhance its investment environment and foster growth within the mineral exploration industry. The Ministry of Investment is...
Moody’s Ratings has affirmed the United Arab Emirates’ Aa2 long-term local and foreign currency issuer ratings, indicating that the country’s economic outlook remains stable. The agency also confirmed the foreign currency senior unsecured debt and medium-term note program ratings at Aa2 and (P)Aa2, respectively. According to Moody’s, this affirmation reflects the expectation that the debt...
The UAE Ministry of Economy, in collaboration with Integra Seven, a notable public policy research and consulting firm, hosted the ‘Future of Jobs’ workshop in Dubai. This event gathered senior representatives from 14 significant economic entities and companies across the nation, focusing on strategies aimed at empowering, attracting, and retaining talented individuals to align with...
The United Arab Emirates (UAE) reported a significant economic expansion of 3.8 percent during the first nine months of 2023. This growth was largely driven by a vibrant non-oil sector, which now constitutes nearly 75 percent of the nation’s GDP, as announced by officials this week. This robust growth highlights the UAE’s ongoing efforts to...
The UAE is stepping up its efforts to attract investments in a number of important areas, such as industry, technology, financial services, and pharmaceuticals. At the Investopia conference in Abu Dhabi, the Minister of Investment, Mohamed Alsuwaidi, stressed the need to make things easier for businesses that want to set up shop in the Emirates....
The Abu Dhabi Department of Economic Development (ADDED) has announced new measures designed to facilitate business expansion in the emirate. These changes allow companies registered in other UAE emirates and their free zones to establish branches in Abu Dhabi without needing to secure physical premises for the first year. This initiative applies to 1,200 economic...
Artificial Intelligence (AI) is central to the transformation of the UAE, fueling innovation in both government and business sectors. This shift towards a digital-first economy is being significantly advanced by e& enterprise, the digital transformation division of the global technology group e&. Khalid Murshed, the CEO of e& enterprise, spearheads the provision of advanced solutions...
Abdullah bin Touq Al Marri, the Minister of Economy, participated in a session titled ‘Global Competitive Edge in an Ever-changing World’ at the 55th World Economic Forum’s annual meeting in Davos . The event, themed ‘Collaboration for the Intelligent Age,’ features a UAE delegation led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum,...
Oman has resumed exporting copper after a 30-year pause, a move seen as a significant step in its broader economic diversification strategy. This week, Minerals Development Oman (MDO) announced the first shipment of copper concentrates from the Lasail Mine in the Wilayat of Sohar. Once a dormant industry, copper mining is now part of the...