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Turkey and Qatar have agreed to extend for three years a currency swap agreement between their central banks, Daily Sabah reports, citing a joint statement by the two countries. Qatar and Turkey “welcomed the signing of the agreement on the Read more
Bahrain’s state legislature on Wednesday approved a bill to double the country’s Value Added Tax (VAT) from the existing 5 per cent to 10 per cent, Gulf Business reports. The Shura Council; the upper house of the legislature, is expected Read more
UAE and Abu Dhabi investment fund, Mubadala Investment Company has acquired 1.9 per cent of Sibur; Russia’s largest integrated petrochemicals company, Zawya reports. The fund did not provide details on the operation, but the investment is the fund’s largest in Read more
Munich-headquartered Kempinski Hotels will open in Dubai in 2023, the world’s first floating hotel complex with 12 luxury villas grouped with the possibility to sail to other anchorages at times, Trade Arabia reports. Dubbed Kempinski Floating Palace will be established Read more
UAE Tuesday conferred the Order of Zayed, the country’s highest civilian award on Saudi Crown Prince Mohammed bin Salman (MbS) in recognition of strong historical ties and bilateral relations between the two countries, reports say. The facto Saudi ruler arrived Read more
UAE sliced down to four and half day the working days in the Arab country which also has moved weekend to Saturday and Sunday as part of reforms to make the country more attractive to foreign investment and human capital. Read more
UAE Monday decided to raise investments in pharmaceutical industry by 20% as the Gulf country aims at producing more good quality medicines locally and draw more investments into the sector, reports say. “Today, I chaired a cabinet meeting at Expo Read more
King Hamad of Bahrain has handed an invitation letter to Pope Francis to visit the Gulf country, Arab News reports citing the State news agency of kingdom, BNA. The invitation, Saudi media notes, was delivered by Sheikh Khalid bin Ahmed Read more
The Central Bank of the Republic of Turkey (CBRT) and the Central Bank of the United Arab Emirates (UAE) signed cooperation agreement between the two institutions on the sidelines of Abu Dhabi Crown Prince Mohammed bin Zayed’s visit to Ankara Read more
Saudi Arabia will initiate discussions with China for the development of the hydrogen as the Gulf country envisagesto reach net zero by 2060. The cabinet, Arab New notes citing state-run news agency SPA, has delegated the Kingdom’s Energy minister to Read more