Oman Mobilized Foreign Direct Investment Exceeding OMR 15 Billion
Foreign direct investment in Oman for the first quarter of 2020 crossed OMR 15 billion, an increase of 5.9 per cent compared to the same quarter in 2019.
ADGM Ends 2020 with Significant Growth and Partnerships Amidst Covid Pandemic Challenges
Abu Dhabi Global Market (ADGM) ends 2020 on a strong note despite all-round disaster caused by Covid-19 pandemic. 2020 is marked as the record year of achievement for ADGM with remarkable growth in key areas of fintech, regulation, sustainable finance and arbitration.
Kingdom of Saudi Arabia Reaffirms Its Plan to Invest Over 100 Billion USD in India
Saudi Arabia has made it clear on Sunday,13th December 2020 that its investment plans in India have not gone out of track and expressed confidence saying Indian economy has all the potential to bounce back from the adverse effects of the deadly coronavirus pandemic and will attract increased FDI inflow and new company-registration-in-India.
UAE Aims for One Million Companies over Next Ten Years through Landmark Economic Policy Reforms
The recent ground-breaking policy reforms allowing full ownership rights to the foreign companies are primarily designed to enhance the openness of UAE’s business climate and increase the number of businesses operating in the UAE to one million within the next decade jumping three-fold from 300,000 currently, the Minister of Economy added.
Extension of Economic Substance Regulations (ESR) Notification and Filing Deadline as Per Recent Announcement of The Ministry of Finance, MOF UAE
The Ministry of Finance, MOF UAE has announced on 31st December 2020 EXTENDING DEADLINE for submission of ESR Notification and report through a circular in the Ministry’s official website.
UAE Introduces New Regulation on Loan Based Onshore Crowdfunding
First time in history, the UAE Central Bank (CBUAE) has launched a new Regulation of new activity on “Loan Based Crowdfunding” in mainland UAE that spells out the rules for issuing Crowdfunding Licenses under the CBUAE.
The New Saudi Arabia Professional Companies Law
Saudi Arabia has enacted a new Professional Companies Law (PCL) that will have a direct effect on professional partnerships existing in the Saudi Arabian market including those providing engineering consultancy, legal and accounting services to name a few as well as the new entrants in the market
JAFZA and ECI Collaborate to Offer Credit and Export Financing Solutions
Jebel Ali Free Zone, Jafza, flagship free zone of DP World, UAE Region’s leading business and logistics hub showcased its customers the trade payments protection solutions it has initiated in partnership with Etihad Credit Insurance, ECI, the UAE Federal export credit company on 19th November 2020.
DIFC ADGM Sign Memorandum of Understanding with Israel’s Largest Bank Hapoalim
Dubai International Financial Centre (DIFC), a top ten global financial centre, and the leading financial hub for the Middle East, Africa and South Asia (MEASA) region and home to the largest most developed financial and FinTech ecosystems in the region with a presence of 72 countries, has signed a memorandum of understanding with Hapoalim Bank of Israel, one of the largest bank and financial services company in Israel.
Dubai Chamber Hosts Israeli Business Delegation to Pave the Way for Investments and Trade Ties
A high-level Israeli delegation led by the Federation of Israeli Chamber of Commerce (FICC) and consisting of representatives of the FICC, Israeli Manufacturers Association and the Israel Export Institute visited Dubai Chamber of Commerce and Industry headquarters on Monday, 9th November 2020 to discuss and lay out the groundwork for exploring prospects of trade and cooperation between Dubai and Israel and to facilitate business set up in Dubai