Complex Made Simple

Daily brief: US moves to remove travel ban, Abu Dhabi to ease spending cuts

The US State Department moved to begin admitting refugees after a federal judge blocked President Trump’s temporary ban. Here are the top seven business stories you need to know today.

Emirates, Etihad, Qatar to let barred passengers on US flights

Emirates, Etihad Airways and Qatar Airways said on Saturday they will allow passengers barred by President Donald Trump’s executive order to board US-bound flights after a federal judge blocked the move.


Iran to hold tender for oil, natural gas fields in mid-February

Iran will launch new contracts to develop oil and natural gas fields in mid-February in the country’s first such tender since the lifting of international sanctions a year ago, an oil official said on Saturday.


US moves to resume admitting refugees, including Syrians

The US State Department on Saturday moved to begin admitting refugees, including Syrians, as soon as Monday after a federal judge on Friday blocked a Trump administration temporary ban on refugee admissions.


(President Trump’s first 10 days: 5 shocking decisions that rocked the world)


543 million passengers used Dubai public transport in 2016

Passengers using the Dubai’s public transport system rose in 2016 to nearly 543.6 million as compared to 539.5 million in 2015, according to figures released by the RTA’s Statistics Section, Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has revealed.


Abu Dhabi set to ease spending cuts in 2017L Fitch

The pace of fiscal adjustment in Abu Dhabi is expected to ease in 2017, after large spending cuts in 2015-2016, according to Fitch Ratings.

The agency said it expects a government deficit of 5.9 per cent in 2017, based on a Brent crude average of $45 per barrel; nearly unchanged from 2016.


(Hyperloop: After Abu Dhabi, which MENA country is next?)


Dubai launches new drive to become capital of Islamic economy

The Dubai Islamic Economy Development Centre (DIEDC) said the refreshed strategy focuses on ensuring long-term impact, with its main objective to lead the growth of the Islamic economy sectors on a local, regional and international scale, and to set a benchmark for the Islamic ecosystem worldwide.


(Fintech platforms add Islamic finance capabilities)


Egypt PMI remains in contraction territory during January

Egypt’s non-oil private sector began 2017 in the same way that it ended 2016, with economic conditions worsening again. Underpinning the downturn were ongoing reductions in output and new orders, a survey by Emirates NBD revealed.