01 | UAE ends preliminary approval for e-invoicing providers, making final accreditation the status to check

As of 2026-10-13, the UAE has replaced preliminary approval followed by testing with a process under which e-invoicing service providers receive accreditation only after completing the required assessments and testing. For businesses with annual revenue of AED 50 million or more, the immediate task is to confirm that a prospective provider holds final accreditation rather than preliminary approval under the previous framework.

Ministerial Decision No. 168 of 2026 took effect on 2026-10-01, replacing Ministerial Decision No. 64 of 2025 and its amendments. Providers that received preliminary approval under the former framework have 30 days from 2026-10-01 to complete the accreditation requirements. Their preliminary approval will be terminated if they do not meet those requirements within the deadline.

Businesses within scope with annual revenue of AED 50 million or more must appoint an accredited provider by 2026-10-30 and implement e-invoicing by 2027-01-01. For in-scope businesses below that threshold, the deadlines are 2027-03-31 for appointing a provider and 2027-07-01 for implementation. Revenue means gross income for the most recent accounting period, not profit.

An e-invoice is not a PDF, Word document, photograph or scanned invoice sent by email. The UAE framework requires structured invoice data to be exchanged between the supplier and buyer, with the relevant tax data reported to the Federal Tax Authority. When selecting a provider, businesses should check its accreditation status, integration capability and implementation timetable. Scope and implementation requirements remain subject to the latest publications from the UAE authorities.

Source: Gulf News, 2026-10-13

02 | Bahrain permits 90-day temporary work across employers, but this is not a new overseas recruitment route

Bahrain’s new rule gives companies a short-term option for deploying foreign workers who are already in the country. Its scope is narrow: the worker must already be authorised to work in Bahrain and be present there, and the temporary assignment may last no more than 90 days. The rule cannot be used to recruit a new worker from overseas.

The arrangement comes under Resolution No. 2 of 2026 and applies to foreign workers other than domestic workers. It requires the worker’s written consent, agreement from the original and receiving employers, and approval from the Labour Market Regulatory Authority. The worker must hold a valid work permit throughout the assignment. The receiving employer submits the application through the Expat Management System and pays an administrative fee of BHD 5.

The original and receiving employers share responsibility for the worker’s employment rights and obligations during the temporary assignment. Before using this arrangement, a company should review permit validity, the written documentation among all three parties and the allocation of responsibilities, rather than relying only on an agreement between the two employers. Implementation remains subject to the latest publication from the Bahraini authorities.

Source: The Economic Times, 2026-10-12

03 | Oman tightens recruitment rules for non-Omani workers, introducing standard contracts and a two-year service guarantee

Oman’s new framework brings recruitment-agency licensing, contracts, financial guarantees and dispute handling under one regulatory structure. For employers, choosing a licensed agency is only the starting point; the standard contract, recruitment period and service guarantee should also be written into the agreement.

Under the framework, only agencies licensed by the Ministry of Labour may recruit non-Omani workers, and a register of licensed agencies will be established. To obtain a licence, an agency’s owner, partners and authorised signatories must be Omani. The owner or one partner must manage the business full time, and the agency must lodge a financial guarantee of OMR 5,000. The licence fee has been reduced to OMR 300 for two years.

Employers will use standard recruitment contracts approved by the Ministry of Labour. The recruitment service carries a two-year guarantee, and the recruitment period should not exceed 45 days. Agencies may not charge workers recruitment fees. Before recruitment, they must provide a job offer specifying the wage and nature of the work, and they must provide accommodation and care while a worker remains with the agency. Parties to a dispute may refer the matter to the Ministry of Labour. The detailed requirements remain subject to the ministry’s latest publication.

Source: Oman Observer, 2026-10-11

04 | Attack on Saudi Aramco headquarters extends energy-sector risk to a core corporate site

Saudi Aramco’s headquarters in Dhahran, eastern Saudi Arabia, was affected during a Houthi missile attack and a fire broke out, showing that the current security risk has reached a core location in the Saudi energy system. The fire was extinguished, but the extent of the damage and the cause were not clear. It was also not established whether the impact came from a missile or debris from an intercepted projectile.

The Saudi-led coalition said the Houthis targeted several cities that day, including Riyadh and Dhahran, and that interception debris fell in part of a residential area in Dhahran. Recent attacks have also affected airports, a refinery, a Red Sea oil export port and a cross-country oil pipeline. Businesses assessing projects in Saudi Arabia should place personnel safety, logistics disruption and energy-infrastructure continuity within the same risk scenario rather than looking only at whether an individual facility has resumed operations.

Source: World Oil, 2026-10-13

05 | Prolonged restrictions in the Strait of Hormuz shift the Gulf outlook to contraction followed by a conditional rebound

The International Monetary Fund has lowered its 2026 growth forecasts for Gulf economies and pushed its assumption for a gradual reopening of the Strait of Hormuz to 2027-03, with pre-war conditions expected by 2027-10. Businesses operating in the Gulf should not treat the projected 2027 rebound as certain because it depends on the restoration of shipping routes.

The IMF expects the Middle East and North Africa economy to contract by 2% in 2026, a downward revision of 3.1 percentage points from its 2026-04 forecast. The UAE economy is projected to contract by 3.9% in 2026 and grow by 7.7% in 2027. Bahrain, Kuwait and Qatar are forecast to contract by 11.3%, 16.7% and 15.6%, respectively, in 2026. Oman is the only GCC member projected to maintain positive growth in 2026, at 4.1%.

Kpler data showed confirmed traffic through the Strait of Hormuz at about 11.9 million barrels per day, approximately 30% below the pre-war baseline, with substantial daily fluctuations. Shipping, insurance, inventory planning and alternative routes will continue to affect regional operating costs and delivery schedules directly.

Source: The National, 2026-10-13

06 | Kraken secures final Dubai approval and prepares to launch dirham trading

Kraken’s parent company, Payward, has received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority and plans to begin serving clients in the UAE within the coming weeks. The licence covers retail, professional and institutional investors, although retail clients may use only services expressly permitted by the regulator.

The platform plans to offer dirham-quoted spot and margin pairs, together with direct deposits and withdrawals in the local currency. Its initial offering also includes on-chain staking, transfers through the Krak app and the xStocks tokenised-equities product. Crypto derivatives and additional yield products are planned for later in 2026 and into 2027, subject to further regulatory approval.

The final licence allows the platform to begin client-facing operations. It differs from the preliminary authorisation obtained in 2026-05, which permitted Payward to build its local operations but not onboard clients. Businesses and investors should check which specific activities have been approved rather than assume that every trading and yield product is available once a platform has received a licence. The available services remain subject to the latest publication from the Virtual Assets Regulatory Authority.

Source: TradingView, 2026-10-12

Other updates

  • 09 | Abu Dhabi targets AED 235 billion in investment and 130,000 jobs by 2045: The Abu Dhabi Department of Economic Development aims to attract AED 235 billion across four specialised economic clusters, which are expected to create 130,000 specialised jobs and contribute more than AED 284 billion to the emirate’s GDP by 2045. (Source: Gulf News, 2026-10-12)
  • 10 | UAE approves an AED 292.5 billion federal budget for 2027-2029: The Cabinet approved total federal spending of AED 292.5 billion for 2027-2029, up 28.3% from the previous three-year period, including AED 90.1 billion for 2027. (Source: Gulf News, 2026-10-12)
  • 12 | IMF forecasts a 3.3% contraction in Saudi Arabia in 2026: The IMF revised its 2026 forecast from 1.7% growth in 2026-07 to a 3.3% contraction, a reduction of 5 percentage points. (Source: House of Saud, 2026-10-13)
  • 13 | IMF expects a deeper contraction in Iraq: The IMF expects disruptions to energy production and transport to drive a double-digit contraction in Iraq in 2026, followed by double-digit growth in 2027 as production, exports and logistics normalise. (Source: Iraq Business News, 2026-10-14)
  • 14 | Saudi Arabia shelves the NEOM Stadium project: Saudi Arabia has indefinitely suspended the planned 46,000-seat stadium for the 2034 FIFA World Cup, which was to be built within The Line at a height of 350 metres. (Source: Seoul Economic Daily, 2026-10-13)
  • 15 | Regional conflict raises execution risk for Saudi megaprojects: Following attacks on Riyadh airport that caused casualties, markets are reassessing security and execution risks affecting investment, tourism and Vision 2030 megaprojects in Saudi Arabia. (Source: The Independent, 2026-10-13)
  • 17 | QatarEnergy secures a USD 3 billion loan from Chinese banks: QatarEnergy obtained a five-year syndicated loan from Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank (Asia), priced at 50 basis points above the US Secured Overnight Financing Rate. (Source: UA.NEWS, 2026-10-14)
  • 18 | Türkiye says no public funds will be used to liquidate troubled funds: Vice President Cevdet Yılmaz said investigations and judicial proceedings are continuing, while regulatory measures cover seven companies and 131 funds under them. (Source: Hürriyet Daily News)
  • 19 | Turkish Parliament to review a nine-article bill on repayments to investors in liquidated funds: The Planning and Budget Commission is scheduled to consider the proposal on 2026-10-14, with representatives from the Capital Markets Board and the Banking Regulation and Supervision Agency among those attending. (Source: Hürriyet Daily News)
  • 20 | Egypt and a Chinese company sign an MoU for a dry bulk terminal: Egypt’s Ministry of Transport and Xiamen C&D signed an MoU to develop the first of four planned specialised dry bulk terminals at Al Max Port in Alexandria, including upgrades to berths, storage yards and cargo-handling facilities. (Source: Daily News Egypt, 2026-10-13)
  • 21 | QatarEnergy’s new liquefaction train is expected to become operationally ready in November: The first train in the North Field East expansion is expected to be ready for operation in November, with first LNG production expected in the first quarter of 2027. (Source: bne IntelliNews, 2026-10-13)
  • 22 | Riyadh Metro to add 94 trains and increase capacity by 60%: The Royal Commission for Riyadh City signed contracts worth approximately SAR 5.5 billion for 94 trains, expanding the fleet from 183 to 277, with phased deliveries beginning in 2028. (Source: Saudi Gazette, 2026-10-13)
  • 24 | Saudi Aramco plans to commission up to seven gas facilities by 2027: The company plans to bring six to seven gas and liquefied-gas facilities into operation between 2025 and 2027 and increase gas sales by 80% by 2030 from 2020-2021 levels. (Source: Saudi Gazette, 2026-10-13)
  • 25 | Qatar opens applications for temporary commercial licences in Sealine: The Ministry of Commerce and Industry is accepting applications and service-price registrations at the Al Wakra Government Services Centre, with motorcycle-rental outlets also required to submit a Civil Defence certificate. (Source: The Peninsula, 2026-10-12)
  • 26 | Qatar and Saudi Arabia sign an energy cooperation MoU: The two countries signed the agreement during the 17th International Energy Forum Ministerial Meeting, establishing a framework for joint cooperation across the energy industry. (Source: Doha News)
  • 28 | IMF raises Saudi Arabia’s 2027 growth forecast to 7.9%: The fund raised its forecast from 5.5% in 2026-07 to 7.9%, an increase of 2.4 percentage points. (Source: Saudi Gazette, 2026-10-13)
  • 30 | Türkiye and Uzbekistan agree to expand trade and ease market access: The two countries will examine the removal of tariff and non-tariff barriers, simpler customs procedures and mutual recognition of conformity certificates, and will establish a technical working group for electrical-product requirements and conformity assessment. (Source: Kun.uz, 2026-10-13)

Last updated: October 2026. This content is for informational purposes only and does not constitute legal or tax advice. UAE and other Middle East market policies may change; please refer to the latest publications from the relevant authorities.