UAE Weekly Business News 18/10/20

UAE Weekly Business News. Abu Dhabi and Dubai trade and economy headlines.

Welcome to Gateway Group's weekly collection of business highlights from Abu Dhabi and Dubai. It's the ideal way of staying informed about crucial UAE business news, conveniently in one place.

Simply scan through the headlines and choose the ones relevant to you. To read the full article, click the headline. The source is in purple for reference.

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UAE Weekly Business News, Issue 06. 18th October 2020.

UAE bilateral trade relationship headlines

• Ministry of Finance heads first round of negotiations on agreement to protect and encourage investments with Israel (WAM 15/10/2020)

UAE economy-related headlines

• Dubai's non-oil external trade reaches AED551 billion in H1 2020 (WAM 12/10/2020)

• Mansour bin Zayed approves guidelines for payment orders in commercial matters (WAM 12/10/2020)

• How has the additive manufacturing industry responded to COVID-19? (Construction Week 12/10/2020) Podcast featuring one of Gateway's Dubai clients, Kingsbury.

• GCC cloud market expected to hit $2.3bn by 2024, Dubai Outsource City reveals (WAM 13/10/2020)

• DIFC becomes region’s first fully accredited member of Global Privacy Assembly (WAM 13/10/2020)

• ADX launches 'Covered Short Selling', amends securities lending and borrowing guidelines (WAM13/10/2020)

• UAE Ministers of Economy involves export sector in ‘Designing the Next 50’ (WAM13/10/2020)

• UAE Space Agency signs Artemis Accords for international space cooperation (Gulf News 13/10/2020)

• UAE economy set for 3.1% growth in 2021 (Khaleej Times 13/10/2020)

• UAE Banks Federation’s General Assembly approves budget, action plan for 2020 (WAM 14/10/2020)

• UAE, IMF develop frameworks for partnership in development of economic policies (WAM 14/10/2020)

• ADNOC continues to focus on costs, optimise performance, maximise smart growth through strategic partnerships (WAM 14/10/2020)

• FAB launches Digital Marketplace to support retailers, SMEs and local businesses in moving online (WAM 14/10/2020)

• Abu Dhabi banks’ net income amounts to AED9.55 in Q2-2020 (WAM 15/10/2020)

• Abu Dhabi Pension Fund, ADQ invest AED7.7 billion in ADNOC energy infrastructure deal (WAM 15/10/2020)

• UAE universities see huge boost as students shun foreign travel (WAM 15/10/2020)

• UAE brokers face drastic drop in commissions after new rules on life insurance policy sales (Gulf News 15/10/2020)

• New rules for visitors to Dubai from India, Pakistan, Afghanistan, Bangladesh and Nepal (Gulf News 15/10/2020)

• Dubai agreement to implement cultural visa initiative (Khaleej Times 15/10/2020)

• Dubai's restaurants bring back buffets and brunches, but with strings attached (Gulf News 16/10/2020)

• Dubai's virtual work visa initiative is just right for today's digital workplaces (Gulf News 16/10/2020)

• Wizz Air Abu Dhabi receives its Air Operator Certificate (WAM 17/10/2020)

• FCA, Dubai Exports partner to facilitate business, trade (WAM 17/10/2020)

• UAE consumers sold on recovery (Khaleej Times 17/10/2020)

• Mena gas investments surge to $126b (Khaleej Times 17/10/2020)

• Oil market to rebalance by end-'21 (Khaleej Times 17/10/2020)

• Abu Dhabi residents need ICA approval to land in Sharjah (Khaleej Times 17/10/2020)

• Confirmed return tickets must for visitors to the UAE (Khaleej Times 17/10/2020)

• UAE property market gets more tenant-friendly as rents soften in Q3 (WAM 18/10/2020)

• Six in 10 Middle East firms are committed innovators, BCG survey finds (WAM 18/10/2020)

• Abu Dhabi to host its flagship energy event Adipec on November 9-12 (WAM 18/10/2020)

• Gulf currency pegs offer silver lining in era of weaker dollar (Gulf News 18/10/2020)

• 'VAT-free offers' misleading: FTA (Khaleej Times 18/10/2020)

Covid-related headlines

• UAE leads Arab region in COVID Economic Recovery Index Ranking (WAM 11/10/2020)

• Dubai Economy fines 2 businesses, warns 8 for violating COVID-19 guidelines (WAM 14/10/2020)

• Two shops in Dubai warned for not placing social distancing posters (Gulf News 16/10/2020)

• Coronavirus: Dubai fines another business for flouting Covid-19 rules (WAM 17/10/2020)

• More than 21,000 breaches of safety rules at Sharjah worker accommodation (WAM 17/10/2020)

• Ongoing spot checks on Dubai sports venues result in nine more fines (Gulf News 18/10/2020)

Latest Covid-19 stats in the UAE as at 18th October 2020

• 1,215 New Cases

• 1,162 New Recoveries

• 4 Deaths

• 115,602 Total Cases

• 107,516 Total Recoveries

• 463 Total Deaths

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Written by Jenny Hunt

Founder, Gateway Group, Abu Dhabi & Dubai, United Arab Emirates

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