Other Briefings
Saudi Arabia To Allow Foreign Property Ownership
Saudi Arabia is planning to pass a new law that allows non-Saudi residents to own property in the Kingdom, Abdullah Alhammad, the CEO of Saudi’s Real Estate General Authority (REGA) stated on Sunday (March 26).
Why The UAE Joined The BRICS New Development Bank
UAE developing as a global financial hub for MENA investments The United Arab Emirates joined the (BRICS) New Development Bank (NDB) in September 2021. With the BRICS including Brazil, Russia, India, China and South Africa, with Mexico also poised to join, the bloc is poised for additional expansion during 2023. In fact, there are several […]
UAE Central Bank Issues Digital Dirham Strategy
The Central Bank of the UAE has launched the CBUAE Central Bank Digital Currency (CBDC) Strategy, one of the nine initiatives of the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, it said on Thursday (March 23). The CBUAE has engaged with G42 Cloud and R3 as the infrastructure and technology providers respectively for its CBDC implementation.
UAE-Israel Diamond Trade Increases 163% In 2022 To Reach US$1.75 Billion
The Diamond trade between the United Arab Emirates and Israel reached US$1.75 billion in 2022, representing a 163% increase over 2021, according to Dubai Multi Commodities Center (DMCC), the UAE’s global free zone and government authority for commodities.
China and The Developing Multipolar Order in the Middle East
Looking into the implications of the Saudi-Iran agreement By Emil Avdaliani On March 10th, two regional rivals, Iran and Saudi Arabia reached an agreement which lays out a step-by-step program on re-instating severed relations between the two nations. This was brokered by China, with a subsequent ceremony being held in Beijing. This rapprochement between Saudi […]
UAE Welcomes Syria ‘Back Into The Arabic Community”
Bashar Al Assad, the Syrian President, has arrived in the UAE on an official visit, and was received by UAE President Sheikh Mohamed bin Zayed Al Nahyan. Syria has endured a dreadful past decade, riven by civil war, and natural disasters as well as being subject to intense sanctions from the United States.
Notes On The Greater Arab Free Trade Agreement (GAFTA) As Apply To Regional Foreign Investors
The Greater Arab Free Trade Area (GAFTA) is a pan-Arab free trade zone that has been in place in 1997. It now includes 18 countries: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, the UAE and Yemen. Member states comprise a total area of 11.46 million […]
Saudi National Bank Partners With China Exim Bank In RMB Yuan Loans
The Export-Import Bank of China (China EximBank), its major trade policy bank, announced on Tuesday (March 14) that it had made the first loan cooperation with the Saudi National Bank, the largest bank in Saudi Arabia, in RMB Yuan, facilitating financial cooperation under the framework of the China-proposed Belt and Road Initiative (BRI). The funds […]
UAE Intends To Introduce ‘Flexi’ Work Permits By Q3 2023
Flexible employment visa will allow holders to be effectively self-employed and hold multiple jobs The UAE intends to introduce a new flexible work permit to allow freelance work by employees of all skills, the Emirates Minister of Human Resources and Emiratisation Abdul Rahman bin Abdulmanan Al Awar said on Wednesday (March 15).
UK Progresses With ‘Trade Wins’ As GCC Trade Deal Looks Promising
The UK has secured some trade concessions prior to the third round of negotiations with the Gulf Cooperation Council (GCC) as the British look towards securing a free trade or similar cooperation agreement. The GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
