BXB Blog: SME Insights and Trends

SME News

Our Weekly Markets Summary...

Economic growth in the UAE is forecast to contract by 5.2% this year, revealed the Central Bank’s latest quarterly review.

SME News

Normalization of UAE-Israel Ties is estimated to bring Business Deals worth USD 300-550mn...

ENBD signed agreements with Israel’s biggest lenders and DP World and Dubai Customs agreed to form trade links with Israel.

SME News

Weekly Markets Summary - 17/09/2020

Abu Dhabi launched a new platform “Abu Dhabi Open Data” that offers more than 550 data sets on various sectors including tourism, education, energy and technology.

SME News

Dubai announces a Retirement Visa Programme...

To qualify, the person needs to have a monthly income of AED 20k (USD 5446) or should have a savings of AED 1mn or a real estate asset worth AED 2mn.

SME News

The UAE abolished the 1972 Israel Boycott Law…

The UAE abolished Israel Boycott Law, allowing individuals and companies in the country to enter into agreements, also enabling trade, tourism and investment.

SME News

The UAE plans to make Digital Economy a Priority for the Country...

The contribution of the Digital Economy to GDP was 4.3% in 2019.

SME News

The UAE agrees to Establish and Pursue Diplomatic Relations with Israel...

In exchange Israel will suspend “temporarily” its plan to annex parts of occupied Palestinian territory in the West Bank.

SME News

The Beirut Blast and its Recovery & Reconstruction dominate news in the Middle East…

Beirut’s Governor stated that the repair bill for the capital will cost up to USD 5bn while the overall cost of damages is estimated at around USD 15bn.

SME News

Abu Dhabi could become 'The Fight Capital of the World’ - UFC President, Dana White | BXB

Dana White hails a ‘perfect’ series of events and claims that Abu Dhabi could become the Fight Capital of the World.

SME News

BXB Proudly Sponsors Amir Albazi as he makes his UFC Debut on Fight Island, Abu Dhabi | BXB

Amir’s story is remarkable. His family escaped war-torn Iraq and sought refuge in Syria, Kurdistan, and then Sweden.

SME News

Dubai opens the City to International Tourists from 7th July...

Abu Dhabi Department of Economic Development announced a new project to support enterprises operating in highly-skilled fields.

Dubai

Dubai prepares to Welcome back Tourists from 7th July...

Dubai allowed the resumption of more activities as well as allowing children under the age of 12 and those above 60 to visit malls and other public areas.

SME News

Abu Dhabi Introduces a New Initiative to allow for faster issuance of Business Licenses...

The new E-contract and E-signature System will ease the process of obtaining a license for one-person and limited liability companies.

SME News

As Private Sector and Malls in UAE now operate at 100% capacity, please take precautions...

Private Sector and Malls in Dubai are now permitted to operate at 100% capacity from 3rd June. Working hours should fall between 6 am and 11 pm.

SME News

UAE resumes "Normal" Activities...

The curfew timing has been reduced. Beaches, parks, cinemas, museums and tourist attractions have reopened with social distancing rules in place.

SME News

The UAE does not plan to raise VAT from the Current Rate of 5%...

Banks and Financial Institutions have drawn down 77% of the funds provided by the UAE Central Bank under the Targeted Economic Support Scheme.

SME News

Postponement of Dubai Expo to 1st October 2021 has been Approved...

The Federal Authority for Government Human Resources disclosed that remote work systems could be in place post-pandemic as well.

SME News

Abu Dhabi plans to allocate 15% of Government Procurement Spending and Contracts to SME's...

A joint statement by Emirates President and the CEO of Etihad Airways warns that passenger demand is unlikely to return to pre-crisis levels until 2023.

SME News

The UAE partially lifts some lockdown measures across the Emirates...

Entertainment venues and tourist attractions will remain closed, offices have to limit employees on its premises to 30% of the workforce.

SME News

Battling Covid-19’s Impact: the Ministry of Economy reduced Fees of 94 Services...

Government of Dubai extended closure of all inbound tour operators, hotels, restaurants, venues and event organisers until further notice.

SME News

How are GCC Nations financing the Stimulus Packages?

Overall stimulus measures in the GCC have crossed over 10% of 2019 GDP - Governments are taking actions to finance this spending.

SME News

Dubai Expo Organisers have officially proposed 1st October 2021 as the new Starting Date...

Bureau International des Expositions is set to decide on the date of this 6-month long event at the next meeting to be held on 21st April 2020.

SME News

UAE and MENA announce a range of Stimulus Packages to combat Covid-19...

UAE Government announced additional stimulus of AED 16bn to support the economy, thereby bringing the total amount to AED 126bn so far.

SME News

Global Financial Markets suffer their worst day since 1987’s Black Monday...

Oil prices continued to decline on news of higher production plans from UAE and Saudi Arabia while the gold price ended the week with a loss of 8.6%.

SME News

Saudi Arabia temporarily halts all entry by land from the UAE, Bahrain and Kuwait…

Entry is permitted only via the three international airports in Riyadh, Jeddah and Dammam. Furthermore, the Umrah pilgrimage is suspended temporarily.