News article in McDonald’s website confirms that after more than 30 years of operations in the country, McDonald’s Corporation...


McDonald’s To Exit from Russia after 30 Years of Service in the Country

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S...

Stock Markets

Dollar Slipped against other Major Currencies as Focus turns to Growth

Asian shares rise on Tuesday, boosted by technology majors, as hopes expectation grow for an easing of China's regulatory crackdown on...

Stock Markets

Asian Shares Rise on High Expectation of Easing China Tech Crackdown

On Friday, Elon Musk revealed that his $44 billion takeover deal for Twitter Inc. has been put “temporarily on hold”, triggering a share plunge...

Stock Markets

Musk’s $44 Billion Twitter Acquisition Deal ‘on Hold’ Causing Shares to Plunge

His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and Ruler of Abu Dhabi, has passed away on Friday, May 13, aged 73...


RIP: UAE’s Sheikh Khalifa Bin Zayed Al Nahyan Passes Away

Stock Market

8 Dec 2021

UAE Stock Markets to Follow Government Shift to Mon-Fri Week

UAE Stock Markets to Follow Government Shift to Mon-Fri Week

The Index Today

UAE government official said that the stock exchanges in the United Arab Emirates will start operating Monday-to-Friday following the Gulf country’s decision to switch its working week.

The UAE announced to replace its working week for government employees to accelerate a push to draw in international investment and business by aligning with global markets. Instead of the current work schedule of Sunday-to-Thursday working week, it will adopt a 4 1/2-day working week, with Friday (a holy day in Islam) being a half day, which will be effective on January 1st 2022.

Abdulrahman Al Awar, director general of the Federal Authority for Government Human Resources said that the exchanges “will operate Monday-Friday and Friday will be a full business day for the stock markets,” in a Bloomberg TV interview Wednesday. “The decision is made to invest in the competitiveness of the UAE economy and to enhance productivity.”

A recently passed UAE labor law that allows flexible and part-time work means the private sector has the choice about how to structure the working week, Al Awar said.

The law “enhances the flexibility for the private sector and the economy to allow them to decide the value added to their business,” he added.