SME News Dubai plans to offer a new long-term “Cultural Visa” … UAE PMI slowed to a 9-year low but Dubai recorded a 135% yoy increase in FDI to AED 46.6bn in H1 this year.
SME News Banks in Egypt have lent EGP 146bn (USD 8.93bn) to SMEs … The logistics sector in UAE is expected to contribute 8% of GDP by 2021; last year, the sector’s gross output touched AED 219bn (USD 59.67bn).
SME News UFC 242 boosts Businesses as Sales increase in Abu Dhabi ... UAE’s non-oil private sector growth falls: PMI fell to an 8-year low of 51.6 in August (July: 55.1). The output growth rate was at its weakest in just over six years, while employment slipped to 49.9 in August (July: 50.5).
SME News Egypt’s RiseUp acquires Saudi’s MENAbytes for an undisclosed sum … UAE PMI fell to 55.1 in July, from June’s 57.7 and lower than Q2’s average of 58.2. Output prices were reduced for the tenth successive month. Consumer prices in Abu Dhabi fell by 1.1% mom and 1.4% yoy in July – the biggest drop since at least 2015 – after the housing and utilities sub-ind
SME News Since 2014, China Continues to be Dubai’s Top Trade Partner … Private sector employment in the UAE rebounded, rising by 1.2% in Q1vs a 0.6% drop in the previous quarter, supported by an acceleration in real estate sector jobs (+4.4% yoy), according to the UAE central bank.
SME News Over 2,055 SMEs received support from the Government Agency Dubai SME in H1 … UAE changes sponsorship rules: the new resolution allows expats to bring family members into the country.
SME News Saudi's Misk to offer 15 MENA start-ups up to $1m … The Dubai Economy Tracker index edged down to 58.4 in June (May: 58.5), with the employment sub-index remaining flat at 49.4.
SME News UAE announced 100% foreign ownership in 122 economic activities … UAE announced 100% foreign ownership in 122 economic activities across 13 sectors
SME News UAE approves sectors eligible for 100% foreign ownership… The UAE Cabinet has approved the sectors and economic activities eligible for up to 100 percent foreign ownership.
SME News The second phase of VAT rollout in Bahrain… More than 3,000 start-ups have joined Dubai Startup Hub since its inception in 2016
SME News Geopolitical worries with rising fears of a US-Iran confrontation… New business licenses issued in Dubai increased by 35% YoY to 9489 in January-April 2019.
SME News $145m fund opens to boost Abu Dhabi's start-up, VC ecosystem… UAE’s inflation touched a 4-month low of 2.1% YoY in April
SME News Sheikh Mohammed unveils UAE Permanent Residence scheme… His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the 'Golden Card' scheme to grant permanent residency benefits...
SME News Saudi Arabia approves Landmark Residency Programme… UAE’s PMI increased at the fastest pace since December 2017, to post 57.6 in April.
SME News UAE implements plan to offer five-year visas to entrepreneurs… The Federal Authority for Identity and Citizenship has announced the implementation of the UAE Cabinet’s decision to issue five-year residency visas for entrepreneurs
SME News Fintech startups in the Middle East region are expected to expand … UAE GDP growth touched 1.7% in 2018, much slower than the previously predicted 2.5-3% growth.
SME News Dubai launches a second package of economic growth initiatives to support SMEs … UAE’s PMI dipped to a 28-month low of 53.4 in February
SME News Saudi Arabia announced the issuance of "On Arrival Tourist Visas" … Total credit disbursed to micro, small and medium enterprises in the UAE amounted to AED 88.7bn by end-Q1 this year. This accounts for 11% of loans to the corporate sector and 5.8% of total bank credit during the period.
SME News Talks between Washington and Beijing continue, Markets anxious… Equity markets edged higher across the globe including the Asia-Pacific (driven by China)
SME News Dubai’s Mall of the Emirates has introduced WeChat Pay… The US-China trade negotiations drag on with no concrete results
SME News US Dollar rises, reporting strongest week in 6 months… The Brexit saga continues with S&P warning about downgrades for some British companies in a no-deal Brexit – and possibly even lowering the UK’s credit rating.
SME News The First Abu Dhabi Bank has proposed raising its foreign ownership limit… US-China trade negotiations dragged on, with no clear-cut outcomes though officials said progress had been made
SME News The US shutdown temporarily ended after 35 days. The shutdown cost at least USD 6bn to the economy… Most global equity markets closed slightly higher on strong earnings reports
SME News Expansion plan for the Dubai International Financial Centre announced… The recent partial recovery in the FTSE All-World index and the S&P 500 led to a broadly upbeat mood across markets
SME News Sheikh Mohammed unveils the eight principles of Dubai… Whether in the public or private sector, it is our collective responsibility to ensure these guidelines are never compromised.
