UAE Weekly Business News 04/03/24
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UAE Weekly Business News issue 178 published 4th March 2024.
UAE FREE ZONE NEWS
DMCC announces 25% annual growth in new Chinese member companies (Government of Dubai Media Office 04/03/2024)
Dubai's IFZA opens office in Germany to attract foreign investment (WAM 04/03/2024)
DIEZ achieves 64.6% growth in operating profit in 2023 (WAM 03/03/2024)
ADGM and Etihad Airways collaborate to boost Abu Dhabi as a global business hub (WAM 28/02/2024)
Hub71 attracts 190+ startups that have raised AED5.4b (Abu Dhabi Media Office 28/02/2024)
Singapore's Petrozo Energy sets up factory in Hamriyah Free Zone, targeting markets in Middle East, East Africa & Southeast Asia (WAM 27/02/2024)
KEZAD Group, Sam Force sign agreements for Community Retail Centres Development (WAM 27/02/2024)
Hub71 seeks more cross-border partnerships to help start-ups (The National 26/02/2024)
UAE VISA NEWS (inc. employment, Emiratisation, training, women)
UAE sets out shorter working hours for Ramadan (The National 04/03/2024)
Can an employee take personal loan against gratuity amount? (Khaleej Times 03/03/2024)
Will passengers with Dubai visas be deported if entering from other emirates? Travel agents refute viral post (Khaleej Times 02/03/2024)
UAE has youngest CEOs globally but region falls behind in gender diversity (Arabian Business 01/03/2024)
UAE visit visa holders should be allowed to work, suggests top official (Khaleej Times 29/02/2024)
New scheme launched to foster next-generation of Emirati construction leaders (Khaleej Times 28/02/2024)
6 types of non-work residency visas available for expats (Khaleej Times 28/02/2024)
Want UAE Golden Visa without applying? Process could soon be automatic for some (Khaleej Times 28/02/2024)
Middle East bosses to benefit from ‘more choices’ in talent as job competition increases (Arabian Business 28/02/2024)
MoHRE launches new edition of Labour Accommodation System (WAM 27/02/2024)
UAE visa: 5-year multiple-entry tourist visa for Indians – Everything you need to know (Arabian Business 27/02/2024)
4 types of residency visas that allow expats to work (Khaleej Times 26/02/2024)
UAE Business and Economy News
MoHAP hosts Innovative Lab to design national framework for health, wellness (WAM 04/03/2024)
Air traffic in UAE grew by 14% in February (WAM 04/03/2024)
Dubai International Boat Show reinforces city’s reputation as tourism hub for marine business (WAM 04/03/2024)
Annual UAE spending to tackle obesity expected to hit $12b (The National 04/03/2024)
Martin Yates, Senior Government Technology Advisor of Presight, a leading provider of big data analytics solutions powered by generative AI, discusses his career and the transformative potential of AI (Arabian Business 04/03/2024)
UAE extends additional voluntary output cut of 163,000bpd through end of June 2024 (WAM 03/03/2024)
UAE champions free trade, investment to fuel global growth (WAM 03/03/2024)
Nasser Al Neyadi appointed as CEO of Ports, Customs and Free Zone Corporation (WAM 03/03/2024)
Sheikh Zayed Grand Mosque sees 70% increase in visitors in 2023 (WAM 03/03/2024)
Mohammed bin Rashid reviews UAE Government’s financial achievements and initiatives for 2023 (WAM 03/03/2024)
Investopia 2024 sets new investment roadmap for business communities during its third edition (WAM 03/03/2024)
DEWA employees recycle over 7.1 tonnes of plastic bottles and aluminium cans in 14 months (WAM 03/03/2024)
Local boatmakers take center stage at Dubai International Boat Show (WAM 03/03/2024)
WTO’s 13th Ministerial Conference concludes with Abu Dhabi Declaration, securing key trade and development agreements (WAM 02/03/2024)
Mohammed bin Rashid reviews plans for the AED 800 million ‘1 Billion Meals Endowment’ tower (WAM 02/03/2024)
Emarat Launches ‘Project Landmark’ for Naming Rights to its Service Stations in the UAE (WAM 02/03/2024)
Dubai International Boat Show progressing nautical narrative (WAM 02/03/2024)
GETEX 2024 to commence in Dubai on April 24 (WAM 01/03/2024)
Ahmed bin Tahnoun boards Etihad Rail prototype passenger train from Abu Dhabi to Dubai (WAM 01/03/2024)
Harnessing AI and advanced operational techniques: EtihadWE highlights pioneering initiatives at MOEI Innovation Week (WAM 01/03/2024)
Hamdan bin Zayed praises UAE’s nuclear energy sector for delivering international model for driving energy security (WAM 01/03/2024)
Start-up of Unit 4 of Barakah Plant a historic milestone for UAE Nuclear Energy Programme (WAM 01/03/2024)
Start-up of Unit 4 signals advance towards commercial operations at Barakah Nuclear Energy Plant GETEX to spotlight AI, sustainability, leadership in its 2024 Spring Edition (WAM 01/03/2024)
TDRA provides generative AI on government portals aligned with DLS 2.0 (WAM 01/03/2024)
How the UAE became a cultural crossroads (WAM 01/03/2024)
E-scooters banned in Dubai metro and tram stations (The National 01/03/2024)
A blueprint for success: How e& enterprise is powering a smart, sustainable future (Khaleej Times 01/03/2024)
Drones in Dubai: How AI-powered self-flying robots are transforming cargo operations (Arabian Business 01/03/2024)
UAE real estate: Cross-border payments will ‘reshape the way investors engage with the market’ says property expert (Arabian Business 01/03/2024)
Impact Summit propels Abu Dhabi as global tech north star (WAM 29/02/2024)
UAE announces new Trade for Development platform, empowering developing countries to make trade more inclusive (WAM 29/02/2024)
Healthy Innovation Conference explores future of sustainable food industry (WAM 29/02/2024)
Emirates SkyCargo expecting operational growth of up to 8% in 2024 (WAM 29/02/2024)
Day 2 of Investopia 2024 reviews strategic priorities to enhance global economic growth (WAM 29/02/2024)
Etihad Airways expands schedule with two new destinations and additional flights (WAM 29/02/2024)
UAE holds firm at 10th place globally in Brand Finance Soft Power Index 2024 (WAM 29/02/2024)
Trends to organise 'Education and Identity in Digital Age' conference in Abu Dhabi 6 March (WAM 29/02/2024)
UAE airports surpass 134 million passenger mark in 2023, 140 million projected by 2024 (WAM 29/02/2024)
Abu Dhabi witnesses 67% annual increase in number of AI company registrations (WAM 29/02/2024)
UAE gets 10/10 for 'strong and stable economy' in world rankings (The National 29/02/2024)
Red Sea crisis highlights need for new trade routes, UAE minister says (The National 29/02/2024)
EGA begins work on renewable energy-powered data centres (The National 29/02/2024)
UAE Set to become a land of unicorns to fuel economic growth (Khaleej Times 29/02/2024)
Abu Dhabi real estate: Residential sales surge 83% with over 11,200 units sold in 2023 (Arabian Business 29/02/2024)
Art Dubai is ‘more than just a fair’, will boost economy AED143m (Arabian Business 29/02/2024)
Emirates Health Services, Amazon discuss innovative solutions in healthcare sector (WAM 28/02/2024)
UAE activates new EcoMark Global Framework Initiative (WAM 28/02/2024)
New report on SME participation in global trade launched during MC13 in Abu Dhabi (WAM 28/02/2024)
Positive Zero launches new brand, consolidates subsidiaries under one company (WAM 28/02/2024)
Ministry of Economy, Crescent Enterprises launch report on Future of Trade 2050 at WTO’s MC13 in Abu Dhabi (WAM 28/02/2024)
Energy Intelligence recognises ADNOC as top NOC investor in low-carbon solutions, 5th largest in Industry in 2023 (WAM 28/02/2024)
Harnessing FDI for Driving Trade report launched during MC13 in Abu Dhabi (WAM 28/02/2024)
Abdulla bin Mohammed Al Hamed chairs UAE Media Council meeting; approves legislative, policy roadmap for UAE’s media sector (WAM 28/02/2024)
Dubai International Chamber organises 1,800 business meetings to support global expansion of Dubai-based companies (WAM 28/02/2024)
Dubai Stem Cell Congress concludes, offering new hope to cancer, diabetes patients (WAM 28/02/2024)
Mubadala seeks significant global investment in AI and space tech (The National 28/02/2024)
UAE’s Edge expects substantial revenue growth as global tensions rise (The National 28/02/2024)
Flying taxis in UAE skies next year, says Archer Aviation CEO (The National 28/02/2024)
Dubai real estate: Business Bay, Downtown Dubai, JVC property hotspots with 29% rise in deals (Arabian Business 28/02/2024)
Ramadan 2024: Increase in online shopping, bargain hunting, new product acceptance (Arabian Business 28/02/2024)
Abu Dhabi real estate: Where rents are rising and falling; plus the best ROI for property investors, with one area showing 10% returns (Arabian Business 28/02/2024)
Gulf Craft launches new establishment to strengthen maritime industry position (Arabian Business 28/02/2024)
Digital cross-border transfers in Middle East to see rapid growth (Arabian Business 28/02/2024)
Young UAE residents want to retire in the Emirates, new survey says (Arabian Business 28/02/2024)
ADNOC Distribution plans to cross 1,000 service stations by 2028 (Arabian Business 28/02/2024)
7X introduces EMX to transform logistics solutions for UAE and beyond (WAM 27/02/2024)
Dubai Health scientists placed on World's Top 2% Scientists by Stanford University (WAM 27/02/2024)
Abu Dhabi Airports, Burjeel Holdings announce partnership to enhance airport healthcare services (WAM 27/02/2024)
UAE launches new Trade-Sustain-AI initiative to rewrite future of trade (WAM 27/02/2024)
Inaugural TradeTech Forum highlights technology’s potential to revolutionize global trade (WAM 27/02/2024)
Integrated Transport Centre standardises tariffs for public bus services (WAM 27/02/2024)
Dubai Taxi’s market share up to 46%, total number of taxis rise to 5,660 (WAM 27/02/2024)
Rabdan Academy elevates international standing in 2023 (WAM 27/02/2024)
Anwar Gargash meets President of World Economic Forum (WAM 27/02/2024)
Abu Dhabi to host 6th WHO Emergency Medical Teams Global Meeting in November (WAM 27/02/2024)
ADNOC Distribution reveals new 5-year growth strategy (WAM 27/02/2024)
Dubai South forms joint venture with Aldar to develop logistics facilities (Arabian Business 27/02/2024)
DP World, Masdar partner to drive renewable power for port operations (WAM 26/02/2024)
ADAFSA Innovates exhibition spotlights food security and safety innovations (WAM 26/02/2024)
ADNOC Distribution holds Investor Day to present new growth strategy (WAM 26/02/2024)
UAE Real Estate: Dubai residential prices leap 20%, rents up 19%; Abu Dhabi hospitality thriving; expert forecast for 2024 (Arabian Business 26/02/2024)
UAE real estate: Luxury property market to boom as wealthy individuals flock to nation (Arabian Business 26/02/2024)
UAE Financial News
Salik Reports Record Full-Year Revenues of AED 2.1b (Government of Dubai Media Office 04/03/2024)
UAE corporate tax: What’s missing and why it matters (The National 04/03/2024)
UAE issued 151 decisions on financial sector policies and laws in 2023 (The National 04/03/2024)
FATF announcement a testament of concerted national efforts to combat money laundering and terrorism financing: CBUAE (WAM 03/03/2024)
Deferred tax may arise after effective date of tax law (Khaleej Times 03/03/2024
Dubai Taxi Company delivers 2023 net profit growth of 54% YoY to AED345.3m (WAM 01/03/2024)
Sobha Realty reports record $4.2bn of sales in 2023, sets $5.4bn target this year amid luxury property boom (Arabian Business 01/03/2024)
Ruya digital Community Islamic Bank launched in UAE (WAM 29/02/2024)
ADX is favourable platform for tech companies to go public (WAM 29/02/2024)
EDB underlines its role in UAE’s economic evolution at third Investopia Summit (WAM 29/02/2024)
Ethraa Programme successful in preparing future financial leaders (WAM 29/02/2024)
Robust UAE economy marks ‘a historic first’ (Khaleej Times 29/02/2024)
FATF's announcement acknowledges resilience of UAE's AML/CFT framework: Minister of State (WAM 28/02/2024)
Corporate tax UAE: Registration date, fines, exemptions and what you need to know (The National 28/02/2024)
Meet the man tasked with leading the fight against money laundering in the UAE (The National 28/02/2024)
Dubai Islamic Bank successfully prices $1b sustainable sukuk (WAM 27/02/2024)
UAE economy expected to grow by 5% in 2024 (WAM 27/02/2024)
Federal Tax Authority issues new Decision on specified timeframes for Corporate Tax registration (WAM 27/02/2024)
Parkin Company announces intention to float on Dubai Financial Market (WAM 27/02/2024)
Ministry of Finance announces AED10,000 penalty for late Corporate Tax registration (WAM 27/02/2024)
Fitch reaffirms ECI’s ratings at 'AA-' with stable outlook for 6th consecutive year (WAM 27/02/2024)
Mashreq closes US$88m syndicated term loan facility for Joint-Stock Commercial Bank 'Agrobank' (WAM 27/02/2024)
Dubai's Cotu Ventures to invest $54m in early stage Mena start-ups (The National 27/02/2024)
UAE poised for massive upsurge in carbon trading with Middle East market to hit $40b by 2030 (Arabian Business 27/02/2024)
IHC reports net profit of AED32.95b in 2023 (WAM 26/02/2024)
Emirates Development Bank’s contribution to Industrial GDP grows 80% in 2023, totalling AED4.3b (WAM 26/02/2024)
Goldman Sachs, Mubadala sign US$1b private credit partnership to invest in Asia Pacific (WAM 26/02/2024)
UAE Mergers & Acquisitions News
Agthia increases its stake in Egypt’s Auf Group to 70% (Arabian Business 01/03/2024)
ADNOC closes acquisition of 24.9% stake in OMV (WAM 29/02/2024)
Masdar finalises joint investment in 3GW UK Offshore Wind Project (WAM 29/02/2024)
UAE homegrown PR firm Atteline acquired by Ruder Finn in massive expansion deal (Arabian Business 28/02/2024)
Q Holding completes acquisition of ADQ and IHC real estate properties (Arabian Business 28/02/2024)
Multiply Group fully acquires BackLite Media (WAM 26/02/2024)
UAE Bilateral Trade News
UAE participates in Southern Gas Corridor Advisory Council's 10th Ministerial Meeting in Baku (WAM 03/03/2024)
Khaled bin Mohamed bin Zayed meets with Crown Prince of Bahrain (WAM 02/03/2024)
WAM strengthens media collaboration with Kenyan media institutions (WAM 02/03/2024)
Dubai hosts promotional conference of China's 135th Canton Fair (WAM 02/03/2024)
Danish Ambassador to UAE applauds Rabdan Academy's global standing (WAM 01/03/2024)
UAE, Uruguay hold political consultations focused on enhancing cooperation (WAM 01/03/2024)
Italian Trade Commissioner highlights long-standing ties between UAE, Italy (WAM 01/03/2024)
UAE's e& commits $6bn to boost connectivity in 16 countries (The National 01/03/2024)
Inter-Arab trade stands at $700b: Secretary-General of Union of Arab Chambers (WAM 29/02/2024)
Borouge expands global presence with new offices in Kenya and South Korea (WAM 29/02/2024)
Dubai International Boat Show a key platform for 'Made in Italy' products (WAM 29/02/2024)
Deputy Prime Minister of Moldova highlights potential for economic growth with UAE during Investopia (WAM 29/02/2024)
Argentina aims to strengthen ties with UAE through Mercosur (WAM 29/02/2024)
UAE boasts a well-defined vision, roadmap for the future: Former President of Costa Rica (WAM 29/02/2024)
Ireland reports interest from GCC funds over renewable investment (The National 29/02/2024)
Gaming market: Chinese tech giants eye MENA entry with mega plans (Arabian Business 29/02/2024)
FAB aims to triple China business by 2026, advancing Sino-MENA corridor trade and investment (WAM 28/02/2024)
WAM delegation explores media cooperation in Rwanda (WAM 28/02/2024)
South Korea-UAE ties deepen with MC13, CEPA, industrial partnership (WAM 28/02/2024)
UAE, Malaysia CEPA on track for June signing (WAM 28/02/2024)
UAE aims to conclude more Cepas with African countries (The National 28/02/2024)
UK seeks to take UAE AI collaboration to next level (The National 28/02/2024)
Sheikh Mohamed discusses economic co-operation with President of Comoros (The National 28/02/2024)
UAE's Polish community set to grow as new business council opens (The National 28/02/2024)
Abdullah bin Zayed, FM of Guinea-Bissau discuss enhancing bilateral cooperation (WAM 27/02/2024)
Masdar Arlington Energy breaks ground on two new battery energy storage system sites in UK (WAM 27/02/2024)
Ducab Group, Dubai Cares join efforts to empower communities in Nepal through education (WAM 27/02/2024)
UAE, Pakistan sign MoU to boost agricultural innovation and research (WAM 27/02/2024)
Ahmed Al Sayegh meets State Minister for Foreign Affairs of Japan (WAM 27/02/2024)
UAE-France trade set to grow further after hitting $7.6b last year (The National 27/02/2024)
2024 a 'critically important' year in UAE-UK trade relationship, says Emirati minister (The National 27/02/2024)
UAE's $35bn investment to develop Ras Al Hekma provides lifeline for Egypt's economy (The National 27/02/2024)
UAE and Türkiye Presidents discuss bilateral relations, regional developments (WAM 26/02/2024)
Abdullah bin Zayed discusses bilateral ties with Maltese FM (WAM 26/02/2024)
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Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi & Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East
