UAE Weekly Business News 05/02/24
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UAE Weekly Business News issue 173 published 5th February 2024.
UAE FREE ZONE NEWS
ADGM experiences unprecedented demand from asset managers during US Roadshow (WAM 05/02/2024)
SAIF Zone attracts Heesung PMTech Middle East (WAM 05/02/2024)
DFSA issues its first ESG fee waiver to Emirates NBD Bank (WAM 05/02/2024)
SAIF Zone presents investment advantages to premium international gold, jewellery companies (WAM 30/01/2024)
Ahmed bin Saeed approves Dubai Integrated Economic Zones strategy for 2024-2026 (WAM 30/01/2024)
Ras Al Khaimah witnesses robust business growth in 2023 (WAM 30/01/2024)
KEZAD Group announces AED621m investment for new warehousing capacity (WAM 30/01/2024)
UAE VISA NEWS (inc. employment, Emiratisation, training, women)
UAE salary guide 2024: Employees to see 4.5% pay growth; in-demand skills, high-paying jobs revealed (Arabian Business 03/02/2024)
UAE ranked most popular country for global workers (The National 02/02/2024)
Social security is crucial pillar of UAE's economic system (WAM 01/02/2024)
MoHRE completes over 20m smart transactions in 2023, serving 3.3m customers (WAM 01/02/2024)
UAE Golden Visa $272,000 rule change a ‘game-changer’ for Dubai real estate investors (Arabian Business 01/02/2024)
UAE visa for Indians: Dubai’s Emirates announces pre-approved visa on arrival service in new VFS deal (Arabian Business 01/02/2024)
UAE Golden Visa: Dubai real estate expects boost as ‘minimum down payment’ rule dropped (Arabian Business 31/01/2024)
MoHRE reports over 51m communication processes with customers in 2023 (WAM 30/01/2024)
UAE’s innovative legislation to protect workers showcased on sidelines of 14th GFMD summit in Geneva (WAM 30/01/2024)
UAE BUSINESS AND ECONOMY NEWS
DoH imposes AED1m fine, shuts down 8 healthcare facilities for violations (WAM 05/02/2024)
AIM 2024 to promote startups, host Unicorns in Abu Dhabi(WAM 05/02/2024)
Dubai Department of Economy and Tourism, Microsoft to foster innovation (WAM 05/02/2024)
DEWA electronically received data of over 742,000 tenancy contracts in 2023 (WAM 05/02/2024)
ADDED, HYCAP Group team up to establish Industrial Complex in Abu Dhabi (WAM 05/02/2024)
RTA signs partnership agreement with Amazon Web Services (WAM 05/02/2024)
Cleveland Clinic Abu Dhabi demonstrates future of healthcare (WAM 05/02/2024)
Khalifa University, Purapipe sign MoU on nanomaterials for energy, desalination pipelines (WAM 05/02/2024)
ADJD's English Notary Services Bureau completes 400 transactions within two months (WAM 05/02/2024)
Non-oil business activity in Saudi Arabia and UAE grew in January (The National 05/02/2024)
UAE launches women's health strategy (The National 05/02/2024)
Dubai’s realty off to a flying start with record AED35.4b sales (Khaleej Times 05/02/2024)
UAE laws: 73 new legal rulings in 2023, major new website clarifies all legislation in English and Arabic (Arabian Business 05/02/2024)
Arab Woman Awards announces 2024 edition (Arabian Business 05/02/2024)
AB announces Arabian Business Leadership Summit 2024 (Arabian Business 05/02/2024)
Abu Dhabi real estate: Sales prices climb up to 13%, rents hiked over 22% in luxury market boom (Arabian Business 05/02/2024)
Dubai real estate market expected to grow 5% in 2024, says expert (Arabian Business 05/02/2024)
Dubai Central Laboratory develops innovative screening system to detect pork byproducts in processed food(WAM 04/02/2024)
DEWA’s EV Green Chargers witnessed 59% surge in service usage in 2023 (WAM 04/02/2024)
Largest-ever Gulfood 2024 to see global food futurists highlight next steps (WAM 04/02/2024)
RTA inks agreement to develop entry/exit points for Dubai Harbour (WAM 04/02/2024)
Abu Dhabi receives banner for hosting the WFD Congress 2027 (WAM 04/02/2024)
Dubai and Abu Dhabi among 10 wealthiest Brics cities (The National 04/02/2024)
Abu Dhabi property market on solid growth track due to higher demand (Khaleej Times 04/02/2024)
Dubai: Mixed-used developments transforming urban landscapes (Khaleej Times 04/02/2024)
Hamdan bin Zayed reaffirms EAD's commitment to efforts aimed at achieving food security (WAM 03/02/2024)
New Dubai Destinations guide highlights city’s thriving outdoor dining scene during cooler months (WAM 03/02/2024)
UAE ‘high demand’ destination for Indians, says VFS Global following new Emirates deal (Arabian Business 03/02/2024)
Middle East airline traffic up 33.3% last year: IATA (Arabian Business 03/02/2024)
Dubai Fashion Week Autumn/Winter 24/25: Designers, events, talks and more revealed (Arabian Business 03/02/2024)
Abu Dhabi Chamber launches Advocacy Hub to support business ecosystem in Abu Dhabi (WAM 02/02/2024)
Dubai records over AED11.5b in weeklong real estate transactions (WAM 02/02/2024)
World Governments Summit: UAE takes lead in future readiness indices (WAM 02/02/2024)
Foresight frontrunners: UAE's ambitious plans lock in future vision (WAM 02/02/2024)
Dubai flights: Only 0.1% chance of baggage being misplaced, says Emirates (The National 02/02/2024)
Fly Jinnah announces low-cost UAE to Pakistan flights (Arabian Business 02/02/2024)
Sheikh Mohammed orders UAE to cut government bureaucracy, slash waiting times and eliminate 2,000 processes (Arabian Business 02/02/2024)
Dubai Business Women Council releases comprehensive report on healthcare services sector (WAM 01/02/2024)
National Committee of Biosecurity holds its first meeting of 2024 (WAM 01/02/2024)
Core42 partners with AIREV, UAE’s leading AI-powered EdTech platform (WAM 01/02/2024)
Dubai Trade platform surpasses 300-million transactions mark (WAM 01/02/2024)
Department of Health – Abu Dhabi, GSK enter strategic partnership to further accelerate innovation in healthcare (WAM 01/02/2024)
Dubai Taxi doubles number of taxis at Dubai Airports (WAM 01/02/2024)
Abu Dhabi real estate transactions hit AED5b in January 2024 (WAM 01/02/2024)
UAE construction activity grows, despite signs of slowdown (Arabian Business 01/02/2024)
Demand for Dubai office spaces surge 34% (Arabian Business 01/02/2024)
Dubai marriage proposals cost up to AED250,000 as global couples flock to UAE for bespoke events (Arabian Business 01/02/2024)
Dubai real estate: Deposit-free short and long-term rentals to launch in UAE (Arabian Business 01/02/2024)
Dubai’s Al Muntaha crowned UAE Restaurant of the Year at Gault&Millau 2024 gala awards (Arabian Business 01/02/2024)
Ministry of Finance celebrates suppliers as partners in the success of Federal Supplier Register (WAM 31/01/2024)
Emirates Post Group unveils new brand identity ‘7X’ for future (WAM 31/01/2024)
Dubai hones winning edge as gaming and esports hub (WAM 31/01/2024)
UAE increasing use of robots in public life to improve service efficiency (WAM 31/01/2024)
Etihad, Air Serbia launch new codeshare to expand connectivity in Europe (WAM 31/01/2024)
Why UAE shoppers are buying more gold bars, coins than jewellery (WAM 31/01/2024)
Burj Al Arab and Emirates Palace ‘most recommended’ hotels in UAE, Emirates tops 2024 airline ranking (Arabian Business 31/01/2024)
Mitgo launches Takefluence platform in MENA for creators and brands (Arabian Business 31/01/2024)
Emirates' 143 destinations across 76 countries (Arabian Business 31/01/2024)
Dubai real estate: Off-plan property supply and UAE Golden Visa rule change to spark investment boom (Arabian Business 31/01/2024)
Masdar and CMA CGM sign strategic supply partnership for long-term supply of green alternative fuels (WAM 30/01/2024)
Oman and Etihad Rail Company and Al Jazeera Steel Product Co. sign MoU for transportation of raw materials (WAM 30/01/2024)
Hamdan bin Mohammed approves expansion of ‘Dubai Schools’ project with budget of AED530m (WAM 30/01/2024)
EDB forum highlights strategic vision for Abu Dhabi's economic growth and diversification (WAM 30/01/2024)
Etihad boost frequencies to key destinations (WAM 30/01/2024)
Abu Dhabi records 51% rise in issuance of industrial licences (The National 30/01/2024)
Arab Health 2024: Upgrades to MRI technology to help us live longer (The National 30/01/2024)
All the Dubai, Abu Dhabi restaurants in the Gault&Millau UAE Guide 2024 (Arabian Business 30/01/2024)
Dubai targets global talent with $136m push to attract small and medium-sized businesses (Arabian Business 30/01/2024)
94.4% increase in requests for electricity connection to projects up to 150KW in Dubai in 2023 (WAM 30/01/2024)
DAE signs pilot training MoU with Ansett Aviation Training (WAM 30/01/2024)
FANR discusses 'Barakah' regulatory activities; progress of research programme (WAM 30/01/2024)
Robots save 39,000 working hours for Ministry of Finance (WAM 30/01/2024)
EDGE appoints Hamad Al Marar as Group’s new Managing Director and CEO (WAM 29/01/2024)
arbitrateAD to launch operations 1 Feburary (WAM 29/01/2024)
Emirates Drug Establishment meets with pharmaceutical industry to outline its mandate and priorities (WAM 29/01/2024)
Dubai’s focus on delivering high-quality medical care solidifies its status as leading global healthcare hub: Maktoum bin Mohammed at Arab Health 2024 (WAM 29/01/2024)
DoH partners with ADHDS, MSD GCC to experiment with blockchain technology in healthcare (WAM 29/01/2024)
UAE cements role as premier global destination through February 2024 event agenda (WAM 29/01/2024)
UAE's transformational Borouge 4 surpasses 50% completion milestone (WAM 29/01/2024)
Arab Health 2024: Service robots set to play bigger role in hospital care (The National 29/01/2024)
Empower in the process of developing AI-powered district cooling system (Arabian Business 29/01/2024)
UAE FINANCIAL NEWS
Knowledge Fund Establishment reports 47.2% growth in its investment portfolio’s market value (WAM 05/02/2024)
MENA witnesses 48 IPOs raising $10.7b in 2023 (WAM 05/02/2024)
National Bonds unveils strategy to drive nationwide savings surge in 2024 (WAM 05/02/2024)
Freelancers need to focus on details to stay aligned with UAE corporate tax (The National 05/02/2024)
UAE’s banking, real estate and Adnoc stocks to perform well in 2024, says Dubai’s largest bank (Khaleej Times 05/02/2024)
Botim launches UAE Central Bank instant payment service in industry first (Arabian Business 05/02/2024)
Finance Middle East to honour industry experts in inaugural awards cermony (Arabian Business 04/02/2024)
Shuaa says it does not intend to delist DFM shares (The National 02/02/2024)
Profitability and credit growth of GCC banks to remain strong in 2024 (The National 02/02/2024)
EDB records AED326m in loan approvals since 2021 driving sector growth (WAM 01/02/2024)
GCC banks to prove resilient in 2024 with UAE, Saudi banking systems leading: S&P Global (WAM 01/02/2024)
UAE to host 2024 Annual Meeting of Asia/Pacific Group on Money Laundering (WAM 01/02/2024)
Borouge reports Q4 2023 net profit increase of 16% YoY, bringing full-year net profit to $1b (WAM 01/02/2024)
FAB's fourth-quarter profit climbs 63% on revenue surge (The National 01/02/2024)
CBUAE maintains base rate at 5.40% (WAM 31/01/2024)
UAE economy projected to grow by 5.7% in 2024 (WAM 31/01/2024)
Federal Tax Authority launches three initiatives for UAE Innovates 2024 (WAM 31/01/2024)
Emirates NBD facilitates Sidara’s first sustainability-linked finance (WAM 31/01/2024)
ADNOC distribution marks year of expansion, transformation, continued fuel & retail growth in 2023 (WAM 31/01/2024)
Abu Dhabi Ports continues global expansion in Asia, Africa, and Middle East in 2024 (WAM 31/01/2024)
DFM achieves robust results in 2023 with net profit of AED329.4m (WAM 31/01/2024)
TECOM Group FY 2023 net profit jumps 49% to AED1.1b (WAM 31/01/2024)
DFM gains exceed AED24b in January (WAM 31/01/2024)
ADCB fourth-quarter profit up 38% on higher interest income (The National 31/01/2024)
S&P expects strong revenue growth of 15-20% for UAE-listed insurance companies in 2023 (WAM 30/01/2024)
CBUAE imposes a financial sanction of AED1.2m on an insurance company operating in the UAE
Mashreq’s Q4 profit more than doubles on higher net interest income (The National 30/01/2024)
Dubai Healthcare City reports turnover growth, forecasts public sector spending to pass $28bn by 2027 (Arabian Business 30/01/2024)
UAE makes first cross-border digital dirham payment, with $13.6m transfer to China (Arabian Business 30/01/2024)
IHC's Ghitha logs record revenue of AED4.6b in 2023 (WAM 29/01/2024)
RAKBank's fourth-quarter profit surges 52% on higher income (The National 29/01/2024)
UAE MERGER AND AQUISITION NEWS
Mubadala invests in India’s Manipal Health Enterprises (WAM 05/02/2024)
Noatum successfully completes acquisition of Sesé Auto Logistics (WAM 31/01/2024)
Dubai Investments invests 34.3% stake in Global Fertility Partners (WAM 29/01/2024)
UAE BILATERAL TRADE NEWS
UAE President and King of Jordan discuss bilateral relations and regional developments
Denmark-UAE ties grow stronger with rising trade, climate cooperation (WAM 05/02/2024)
Indonesian President receives UAE Minister of Energy and Infrastructure (WAM 04/02/2024)
UAE and Comoros Presidents discuss bilateral relations (WAM 04/02/2024)
AD Ports Group, Karachi Port Trust extend cooperation through 25-year concession agreement for Bulk and General Cargo Terminal at Karachi Port (WAM 03/02/2024)
UAE, Greece sign agreement to advance development of digital infrastructure (WAM 02/02/2024)
Sheikh Zayed bin Sultan Hospital in Mogadishu reopens with new medical equipment after extensive renovations (WAM 02/02/2024)
M42, Great Ormond Street Hospital for Children cooperate to pursue paediatric excellence (WAM 02/02/2024)
Abdullah bin Zayed, Argentine Minister of Foreign Affairs discuss advancing bilateral cooperation (WAM 01/02/2024)
ADCEB, China MICE Advisory Group renew partnership (WAM 01/02/2024)
UAE, a key growth market for Irish businesses in region (WAM 01/02/2024)
Spain urges WTO meet in UAE to address deglobalisation & its impacts (WAM 01/02/2024)
RAK Ruler witnesses RAKEZ-BCCD MoU signing (WAM 01/02/2024)
Investopia, London Stock Exchange explore collaboration in fintech sector (WAM 31/01/2024)
Dubai Chamber of Digital Economy signs strategic partnership agreement with Enterprise Ireland (WAM 31/01/2024)
Saud bin Saqr receives UK Trade Envoy to UAE (WAM 31/01/2024)
UAE, UK explore opportunities to strengthen economic partnership (WAM 30/01/2024)
UAEAA delegation visits Oversight and Anti-Corruption Authority, and General Court of Audit of Saudi Arabia (WAM 30/01/2024)
Emirates joins UK low carbon investment initiative, The Solent Cluster (WAM 30/01/2024)
UAE key trading partner for Hong Kong in Middle East (WAM 30/01/2024)
ADQ a strategic partner in promising sectors of Egyptian economy (WAM 30/01/2024)
ADNOC Gas signs 10-year LNG supply agreement with GAIL India Limited (WAM 30/01/2024)
UAE President receives Speaker of Turkish Grand National Assembly (WAM 30/01/2024)
Khalifa University announces joining five German universities (WAM 30/01/2024)
DEWA discusses cooperation with UK's Department for Energy Security and Net Zero (WAM 29/01/2024)
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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
