Daily brief: Oil prices edge up, UAE adopts new entry visa system
Oil prices edged up on Monday over fears that new set US sanctions against Iran could extend to affect crude supplier. Here are the top seven business stories you need to know today.
Chief Happiness and Positivity Officers ready to work in UAE
Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, attended the graduation ceremony for the first class of Chief Happiness and Positivity Officers (CHPOs), for federal and local governmental authorities.
New entry visa system in the UAE
A new and advanced entry system for tourism, medical, educational and talented workers’ visas, has been adopted in the United Arab Emirates.
The new system categorises travellers into various groups, with specific limits. The system also keeps record of legal violations and breaches to entry regulations and national residence.
Over third of Arab youth population use social media: Report
Facebook, the most popular social media platform in the region, has around 156 million users this year in the Arab World, as compared to 115 million in 2016 with Qatar and the UAE have by far the highest penetration rates of Facebook accounts with almost 95 per cent in each country, according to the 7th Arab Social Media Report released on Sunday by Mohammed Bin Rashid School of Government (MBRSG).
Turkey transfers its Ziraat Bank, Istanbul bourse, Botas stakes to wealth fund
Turkey has transferred its stakes in Ziraat Bank, the Borsa Istanbul stock exchange and state-owned pipeline operator Botas, among others, to a new sovereign wealth fund, the official gazette said on Sunday.
GCC rail projects in pipeline stand at over $240bn: Report
Asia and the Middle East have the largest selection of freight and urban transport projects in the world with more than $642bn worth of planned railway investments, according to a report released by Terrapinn Middle East in collaboration Ventures ONSITE.
It notes that the value of total GCC rail projects in pipeline stands at over $240bn, with $69bn worth of projects currently under construction.
Oil prices edge up on Iran tensions, but rising US drilling caps gains
Oil prices edged up on Monday on fears that new US sanctions against Iran could be extended to affect crude supplies, but markets were capped by further signs of growing US production.
Credit insurer Coface expects easing in payment delays in Saudi Arabia
Payment delays in Saudi Arabia should ease gradually in 2017 after recent payouts by the government to companies, particularly builders, the regional CEO at credit insurer Coface said on Sunday.