Abu Dhabi Fund for Development allocates Dh735m to Abu Dhabi Exports Office in 2021

Abu Dhabi: The Abu Dhabi Fund for Development (ADFD) Board of Directors approved the allocation of Dh735 million ($200 million) for Abu Dhabi Exports Office (ADEX) to accommodate export financing that will help spur the growth of exports of UAE national companies. The 2021 budget allocation increased by 33.3 per cent, with Dh184 million ($50 […]

Bahrain introduces wage protection system for private sector employees

Cairo: Bahrain has unveiled a phased system aimed to protect wages of private sector employees and limit labour disputes. The kingdom’s Minister of Labour and Social Development Jamil Bin Mohammed had issued a decree specifying dates of the phased system, local media reported. According to the decree, the employer is committed to regularly paying the […]

Companies from IKEA to Caterpillar hit by Suez blockage in growing trade crisis

Cairo: Swedish furniture giant Ikea and yellow bulldozer-maker Caterpillar Inc. typify the supply-chain headaches facing international companies due to the massive container ship blocking the Suez Canal. Ikea said it’s considering all options to ensure availability of products such as flatpack beds and couches, while Caterpillar is said to be considering airlifting products if necessary. […]