Business Extra

The UAE government has made it easier for husbands, fathers and sons to secure employment without full company sponsorship. Previously, only women were eligible for work permits under family sponsorship.

This week we speak to Rory Reynolds, The National's News Editor, about the new work permit and what it means for workers and their families in the country. 

- Headlines (0 minutes 53 seconds)

- The new labour card (6m 50s)

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• UAE's new labour card rules a sign of a maturing market

• New UAE work permits will allow companies to hire sons and husbands

• Dubai Financial Services Authority fines two Abraaj companies Dh1.15 billion

• Singapore's GIC to invest in Adnoc pipeline deal alongside BlackRock and KKR

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Assistant Business Editors Chris Nelson and Kelsey Warner talk to Energy reporter Jennifer Gnana about why tanker operators choose to run ships under flags of convenience, following recent attacks and incidents involving such vessels in the Arabian Gulf.

Also discussed is how such incidents and wider trade tensions affect oil prices - or not - and they take a look at Saudi Arabia's blooming wind power sector, which alongside solar in the kingdom and elsewhere is set to transform the face of power generation in the Middle East.

In this episode:

- Headlines (0 minutes 29 seconds)

- Oil tankers flying flags  (5m 37s)

- Saudi renewable energy (13m 59s)

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• Oil prices rise following Iran's seizure of British-flagged tanker

• Quicktake: What are 'flags of convenience'?

• Syria looms large behind Iranian seizure of British tanker

• Islamic finance key to funding green energy projects

• Saudi Arabia's first wind project reaches financial close

Mustafa Alrawi, Assistant Editor in Chief and Assistant Business Editors, Chris Nelson and Kelsey Warner, explore what the consequences could be for the global technology sector after US regulators endorsed a $5 billion (Dh18.3bn) privacy settlement with Facebook to resolve the Cambridge Analytica data scandal.

Also, they discuss the latest economic data out of China which indicates growth has slowed to the weakest pace since 1992 amid the ongoing trade standoff with America.  

And what of investor confidence for frontier markets after the World Bank hit Pakistan, South Asia’s second largest economy, with $6 billion in damages for refusing to honour a mining lease to an international conglomerate.

- Headlines (0 minutes 40 seconds)

- Facebook (1m 30s)

- China's economy (17m 58s)

- Investors confidence in Pakistan (21m 48s)

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• Facebook's record $5bn privacy settlement a 'tap' on the wrist as politicians cry foul

•  China growth slows to weakest in almost 30 years

• World Bank $6bn fine on Pakistan will deter foreign investors, analysts say 

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Host Mustafa Alrawi, Assistant Editor in Chief and Chris Nelson, Assistant Business Editor, discuss Deutsche Bank's sweeping revamp. 

This week the German bank announced it will shrink its trading activities by 40 per cent through an unprecedented withdrawal from equities. About 18,000 jobs, almost 20 per cent of the workforce, will go around the world, including in London. The overhaul is forecast to cost €7.4 billion (Dh30.45bn). 

We break down India's budget and despite a lack of 'big bang' explain how it still puts the country on the path towards meeting its 2025 objective of doubling the size of its economy. Plus Sir Richard Branson's space tourism ambitions kick up a gear with IPO  plans for Virgin Galactic.  

We also speak to Alice Haine our personal finance editor about how to best manage your money during the summer holidays. We settle that age old debate about cash versus cards and which currency should you make credit card payments in - local or dirhams.  

In this episode:

- Headlines (0 minutes 53 seconds)

- Deutsche Bank discussion (1m 45s)

- India's budget (8m 0s)

- Virgin Galactic (12m 19s)

- Summer money tips with Alice Haine (14m 15s)

 Read more on our website:

• Mass layoffs at Deutsche Bank as huge overhaul kicks in

• Richard Branson's Virgin Galactic space tourism venture to go public

• Mixed reactions to new Indian finance minister's budget

• The real cost of not having travel insurance for your holiday

Mustafa Alrawi, Assistant Editor in Chief talks exclusively to BR Shetty

the founder of NMC Healthcare, Finablr and Neopharma, as well as the Founder and Chairman of BRS Ventures.

In the second part of the interview, Mr Shetty recounts how he managed to buy the global foreign exchange business Travelex thanks to his belief in keeping good personal relationships. He is also backing Assam tea to become a worldwide brand now that he owns the oldest producer in India. He explains what he learnt at Harvard University, how sustainable philanthropy makes solid commercial sense and why he wants to make a film of the Mahabharat. Mr Shetty says that being given permanent residency in the UAE was one of the best moments of his life and that the Golden Card visa programme will give lots of other Indian expats lots of confidence in what success can mean here.

Read more on our website:

• Exclusive: NMC Health eyes profit increase in 2018, fuelled by $2bn warchest

• 'This is an unbelievable dream': BR Shetty granted 10-year UAE visa

•My Ramadan: For Hindu billionaire BR Shetty, the holy month is about giving

• Finablr makes London stock market debut at reduced price

Mustafa Alrawi, Assistant Editor in Chief talks exclusively to BR Shetty

the founder of NMC Healthcare, Finablr and Neopharma, as well as the Founder and Chairman of BRS Ventures.

In the first part of the interview, Mr Shetty shares some anecdotes about building up a fledgling business in Abu Dhabi in the 1970s and 1980s including how one morning he had to get behind the wheel of an ambulance himself to get to the scene of a medical emergency.  He recounts his memories of the Founding Father Sheikh Zayed. And he also explains how everyone told him not to build a pharmaceutical factory in Abu Dhabi but he proved them wrong. Mr Shetty says he is sure that joining the Bill and Melinda Gates Giving Pledge was a good thing for him and his family. He also says Indian Prime Minister Narendra Modi is great for business but that he doesn’t miss his first career in local politics back home.

Read more on our website:

• Exclusive: NMC Health eyes profit increase in 2018, fuelled by $2bn warchest

• 'This is an unbelievable dream': BR Shetty granted 10-year UAE visa

•My Ramadan: For Hindu billionaire BR Shetty, the holy month is about giving

• Finablr makes London stock market debut at reduced price

Thousands of foreign investors and residents have been identified for a "golden card" permanent residency scheme, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai announced in May.

Top business leaders from across the Emirates said the move will give investors greater confidence to settle in the country. They also believe it will create greater demand for buying property, boosting a sluggish property market in Dubai and Abu Dhabi.

On Tuesday the General Directorate of Residency and Foreigners Affairs announced that 400 individuals had received the golden card so far and that executives with a salary of Dh30,000 or more could apply for the visa. 

Host Mustafa Alrawi, Assistant Editor in Chief, and Kelsey Warner, Assistant Business Editor, discuss the potential impact that the 'Golden Card' could bring.

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Mustafa Alrawi, Assistant Editor in Chief, hears from Rashed Al Bloushi, Under Secretary of the Department of Economic Development about what Ghadan 21 is all about on the day nine new initiatives were announced outlining R&D investment, electricity tariff discounts, business licensing for technology and state-backed bank loans for SMEs.

Kelsey Warner, Assistant Business Editor also joins the discussion about what the outlook for Abu Dhabi's economy will be going into 2020. 

Also, amid regional tensions and the US-Iran stand-off, The National’s energy columnist Robin Mills – CEO of Qamar Energy, and author of The Myth of the Oil Crisis – has five possible outcomes for oil markets.

In this episode:

- Headlines (48 seconds)

- Rashed Al Bloushi on Ghadan 21 (4 minutes 20 seconds) 

- Robin Mills on oil markets (21 minutes 28 seconds)

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Fertilisers play a critical role in ensuring the security of the global food supply. Overnight, the Abu Dhabi National Oil Company group has gone from the 12th-largest nitrogen-based fertiliser exporter in the world to the biggest, thanks to its tie up with Nassef Sawiris' OCI. The Abu Dhabi company will combine unit Adnoc Fertilisers with OCI’s regional nitrogen-based fertiliser platform, to create one of the largest exporters of the product globally. OCI has fertiliser production operations in Egypt and Algeria.

Host Mustafa Alrawi, Assistant Editor in Chief and Kelsey Warner, Assistant Business Editor, break down the significance of ADNOC's move. We also talk about Boeing's difficult week with Emirates in talks to renegotiate its 777X aircraft deal. There may also need to be a rebranding of the troubled 737 Max once it is fit to fly again. 

And, The National’s Head of Features, Nyree McFarlane, recently visited Facebook’s Menlo Park headquarters to get the inside track on the social media company. Kelsey spoke to her about it. 

In this episode:

- Headlines (48seconds)

- ADNOC and OCI fertiliser tie-up (2m3seconds)

- Boeing and Emirates (8m40seconds)

- Inside Facebook's campus (13m47seconds)

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Nearly Two years on from the acquisition of Souq.com, the US e-commerce company Amazon is front and centre in the UAE again with the launch of its paid subscription service, Prime.

Host Mustafa Alrawi, Assistant Editor in Chief, and Kelsey Warner, Assistant Business Editor, talk to Nada El Sawy, The National's Business Correspondent, about what this development means for consumers and retailers in the region.

Also there was the meeting in Japan of  G20 countries' central bank governors this week where IMF head Christine Lagarde sounded down a warning about properly harnessing FinTech. US-China trade tensions dominated the mood however with the full G20 leaders meeting still to come and a face-off between Washington and Beijing. Opec and its allies have extended their co-operation on oil production curbs, shoring up prices. But for how much longer?

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