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DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed a comprehensive assessment of more than 1,300 digital and smart services provided by ministries and government departments. “Today we directed a thorough evaluation of digital and smart services provided by federal government ministries and departments. ...

Sharjah / WAM The Sharjah Economic Development Department (SEDD) announced that it would be implementing the full foreign ownership policy, allowing investors of natural and legal persons to own 100 percent of commercial and industrial companies and practice activities in the Emirate of Sharjah. This decision includes no requirements such as a specific capital or any additional fees for foreign ...

Ajman / WAM The Department of Economic Development in Ajman (Ajman DED) opened 100% ownership of economic activities in the commercial and industrial sectors to foreign investors. In this regard, the department has approved over 1,000 economic activities for foreign investment, except those with a strategic impact, which were agreed upon during the meetings of the Strategic Impact Economic Activities ...

Dubai / WAM flydubai, the Dubai-based airline, has announced on Wednesday the resumption of its operations to Naples in Italy. The three weekly flights to Naples International Airport (NAP) will commence on July 1. From June 2, a quarantine-free travel corridor has been established between Italy and the UAE enabling passengers to travel between the two countries with less restrictions. ...

ABU DHABI / WAM The Emirates Development Bank (EDB), fully owned by the UAE Federal Government, has signed a Memorandum of Understanding (MoU) with the Commercial Bank of Dubai (CBD), to offer a credit guarantee and co-lending programmes for small and medium-sized enterprises (SMEs) in the UAE. The MoU is part of EDB’s commitment to supporting the goals of the ...

Human behaviour during Covid has upended one of the most fundamental assumptions of economics, even if economists haven’t yet come around to admitting it. In sum: People are worse at big, important decisions than previously thought, and better at small, trivial ones. Standard economics theory holds that people make relatively good decisions when there is a lot at stake. At ...

As Britain basked in a mini-heatwave over the long weekend, you could have almost forgotten there were any remaining Covid-19 restrictions on restaurants. But social distancing, mandatory table service and a ban on groups larger than six are still in place in England until June 21, limiting the amount of people venues can squeeze in and crimping their profits. Keeping ...

The US housing market is on fire, with the supply of available homes falling drastically short of pandemic-stoked demand. Worrywarts are calling it a “crisis” and circulating weird tales of buyer desperation — including one about a supplicant in Bethesda, Maryland who apparently offered to name her first-born child after a seller — and warnings of stunted recoveries. Or maybe ...

Treasury Secretary Janet Yellen’s “mystery” may be moving towards resolution. When she led the Federal Reserve, Yellen puzzled over inflation’s failure to fire despite low unemployment, years of shallow interest rates and several rounds of quantitative easing. Claudio Borio, a top official at the Bank for International Settlements, likened the situation to peering through a looking glass: Central banks that ...

Bloomberg Malaysia will summon China’s ambassador to protest flights by 16 air force planes over the South China Sea that Foreign Minister Hishammuddin Hussein says were a “breach of Malaysian airspace and sovereignty.” The “suspicious” Chinese aircraft were spotted near the East Malaysian state of Sarawak, the Royal Malaysian Air Force said in a statement. They entered the Malaysian maritime ...