UAE Weekly Business News 05/06/23
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UAE Weekly Business News, Issue 139. 5th June 2023.
UAE free zones news
DMCC welcomes global crypto giant Bybit as an ecosystem partner to accelerate the development and mass adoption of Crypto and Web3 in Dubai (Government of Dubai Media Office 05/06/2023)
Dubai Industrial City attracts almost AED1b in investments at Make it in the Emirates Forum (WAM 01/06/2023)
Tecom’s Dubai Industrial City sets target of 500 factories by 2026 (The National 01/06/2023)
ADGM launches inaugural Money Laundering and Terrorist Financing Risk Assessment Report (WAM 31/05/2023)
WEMIX, Hub71 partner to grow global blockchain startup ecosystem (WAM 31/05/2023)
DIFC, Standard Chartered partner to advance treasury excellence across region (WAM 30/05/2023)
UAE employment, visa and Emiratisation news
‘Can divorced mothers sponsor their children in Dubai?’ (The National 04/06/2023)
UAE to implement midday work break from 15 June to 15 September (WAM 01/06/2023)
Philippine Consul-General lauds UAE’s social initiatives that support Filipino workers (WAM 01/06/2023)
ADNOC and Nafis to generate 5,000 new private sector jobs for UAE nationals by 2027 (WAM 01/06/2023)
MoIAT announces 500 industrial job opportunities for Emiratis (WAM 31/05/2023)
AD Ports Group signs MoU with Abu Dhabi Residents Office to attract top talent, investors (WAM 31/05/2023)
UAE salaries: Which tech jobs are in demand and how much do they pay? (The National 30/05/2023)
UAE business and economy news
e& records significant progress on net-zero emissions targets by 2030 (WAM 05/06/2023)
EAD collaborates with ADNOC Distribution in major recycling initiative (WAM 05/06/2023)
dnata announces solid progress and further global green initiatives (Government of Dubai Media Office 05/06/2023)
Business confidence in largest Arab economies improves on robust momentum (The National 05/06/2023)
Dubai realty expected to grow 4.1% in Q2 (Khaleej Times 05/06/2023)
UAE to cut 144,000bpd throughout 2024 (WAM 04/06/2023)
MOCCAE conducts preparatory workshop to bolster National Biodiversity Strategy (WAM 04/06/2023)
UAE on robust growth track (Khaleej Times 04/06/2023)
Dubai's prime residential market grows at highest pace globally (Khaleej Times 04/06/2023)
Electric carmaker AXL plans assembly unit in Emirates, create hundreds of jobs (Khaleej Times 04/06/2023)
DEWA extended 64km of water transmission pipelines in 2022 (WAM 03/06/2023)
All UAE Institutions are committed to protecting constitutional, legal rights of citizens, residents & visitors (WAM 03/06/2023)
Abdullah bin Zayed launches national-wide campaign to raise awareness of sustainability initiatives (WAM 03/06/2023)
EDB enhances partnership with ADDED’s Industrial Development Bureau at 'Make It in the Emirates' (WAM 02/06/2023)
MoIAT, Etihad Airways unveil new incentives for ICV companies (WAM 02/06/2023)
UAE Space Agency invites local startups and research centres to join historic Asteroid exploration mission (WAM 02/06/2023)
UAE wins bid to host World Conservation Congress of International Union for Conservation of Nature in 2025 in Abu Dhabi (WAM 02/06/2023)
ADAFSA strengthens UAE livestock sector supply chains (Abu Dhabi Media Office 02/06/2023)
Value of Dubai property deals surges by 87% in May (The National 02/06/2023)
Virgin announces resumption of flights to Dubai from October 2023 (Khaleej Times 02/06/2023)
8 new projects announced at 'Make it in the Emirates' to boost Abu Dhabi’s industrial sector (WAM 01/06/2023)
'Make it in the Emirates' Forum highlights industrial zones' role in supporting national economy (WAM 01/06/2023)
UAE aims to become global model of green growth, circular economy: Minister of Economy (WAM 01/06/2023)
EGA's agreements at 'Make it in the Emirates Forum' could drive AED1 billion of industrial investments in UAE (WAM 01/06/2023)
ADNOC, John Cockerill Hydrogen and Strata Manufacturing to boost UAE's hydrogen economy (WAM 01/06/2023)
MoIAT, Shahin sign strategic partnership to drive UAE’s green mobility transformation (WAM 01/06/2023)
Ministry of Industry and Advanced Technology, Tawazun & Thales launch ‘GO to UAE’ initiative to enhance (WAM 01/06/2023)
National ICV Programme supports efforts to promote sustainable economic development (WAM 01/06/2023)
PureHealth allocates AED13b to local procurement over next 10 years (WAM 01/06/2023)
Ministry of Climate Change and the Environment reviews ways to enhance competition of local agricultural products (WAM 01/06/2023)
Dubai Financial Market adds 22,704 new investor accounts in five months (WAM 01/06/2023)
Wizz Air Abu Dhabi adds ninth aircraft, inaugurates its flights to Bishkek and Antalya (WAM 01/06/2023)
ADDED launches AED1b Abu Dhabi Chanel Partners (Abu Dhabi Media Office 01/06/2023)
Abu Dhabi healthcare facilities accredited by Royal College Canada International as certified medical education institutions (Abu Dhabi Media Office 01/06/2023)
Adopting AI technology can contribute $150b to GCC economies (The National 01/06/2023)
Corporate tax to help UAE broaden revenue base and achieve growth targets (The National 01/06/2023)
UAE to build EV charging station factory in Abu Dhabi (The National 01/06/2023)
Strata Manufacturing delivers MBZ-SAT Satellite components, reinforcing localisation of UAE space sector (WAM 31/05/2023)
Ministry of Economy imposes fines worth AED65.9m on 137 DNFBP companies in Q1 (WAM 31/05/2023)
UAE’s booming trade opens doors to 2.2b consumers (WAM 31/05/2023)
UAE’s EV market projected to grow by 27% annually over next six years (WAM 31/05/2023)
Made in the Emirates mark launched to boost competitiveness of Emirati products (WAM 31/05/2023)
UAE’s Falcon 40B, world’s top-ranked AI model from technology innovation institute is now royalty-free (WAM 31/05/2023)
Khalifa Port ranked 3rd most efficient container port globally (WAM 31/05/2023)
ADDED launches SMEs incentive programme and competence centre for smart manufacturing transition (WAM 31/05/2023)
Sara Al Amiri emphasises public-private partnerships for UAE's decarbonisation (WAM 31/05/2023)
ADNOC signs agreements with more than 60 companies at Make it in the Emirates Forum (WAM 31/05/2023)
Sultan Al Jaber announces AED10 bn in new offtake agreements at Make it in the Emirates Forum (WAM 31/05/2023)
TAQA, ENGIE, EWEC announce financial closing for AED2.3b M2 RO Desalination Plant (WAM 31/05/2023)
Etihad Airways named Environmental Airline of 2023 (WAM 31/05/2023)
11 pre-proposals shortlisted to full proposal phase of UAEREP’s fifth cycle (WAM 31/05/2023)
Mohammed bin Rashid approves new futuristic masterplan for Palm Jebel Ali (WAM 31/05/2023)
ADDED launches SMart Manufacturing Competence Centre and Smart Manufacturing Incentive Programme (Abu Dhabi Media Office 31/05/2023)
UAE residents can earn through new property referral scheme (The National 31/05/2023)
World's super rich to spend $2.5b on Dubai property in 2023 (The National 31/05/2023)
UAE to set up 30 new industrial units to boost GDP contribution (The National 31/05/2023)
UAE's Etihad, Emirates ranked among the world’s 10 best airlines (Khaleej Times 31/05/2023)
28 companies pledge to reduce carbon emissions at MOCCAE's 10th National Climate Ambition Dialogue (WAM 30/05/2023)
Latest Economic Integration Committee meeting discusses development, implementation of National Economic Register (WAM 30/05/2023)
MICE events at Dubai World Trade Centre fuel Dubai’s GDP, driving AED13b in economic output in 2022 (WAM 30/05/2023)
PCFC, Dubai Municipality sign cooperation agreement to boost EHS standards (WAM 30/05/2023)
Ministry of Energy and Infrastructure announces Global EV Market transformational project (WAM 30/05/2023)
UAE positioned itself as global hub for tourism, with innovative forward-thinking and adaptability (WAM 30/05/2023)
UAE Government launches AI-powered chatbot platform ’U-Ask’ (WAM 30/05/2023)
Dubai World Trade Centre events generated $3.5b in economic output last year (The National 30/05/2023)
Mena gaming revenue 'to hit $6b by 2027' (The National 30/05/2023)
Dubai 'well positioned' to draw more foreign direct investment on strong economic growth (The National 30/05/2023)
Dubai Taxi sector trips achieve remarkable growth rate in Q1 2023 (WAM 29/05/2023)
Maktoum bin Mohammed meets with Chief Executive of Moorfields Eye Hospital (WAM 29/05/2023)
Announced hydrogen projects represent $320b investments through 2030 (WAM 29/05/2023)
DEWA commissions 60 MIG water reservoir in Lusaily with investments totalling AED157.4m (WAM 29/05/2023)
Dubai’s Department of Economy and Tourism launches ‘QR Code’ initiative for Holiday Homes in Dubai (WAM 29/05/2023)
Electric vehicles make up more than 1% of UAE car market (The National 29/05/2023)
UAE Financial News
Dubai Chamber registers 17.3% increase in members' export value, re-exports in Q1 2023 (WAM 05/06/2023)
Federal Tax Authority launches ‘Corporate Tax Registration Virtual Workshops’ platform (WAM 04/06/2023)
Ministry of Economy raises awareness on importance of reporting suspicious transactions in gold and precious stone sector (WAM 04/06/2023)
(WAM 03/06/2023)
AMF forecasts 4.2% growth for UAE economy in 2023 (WAM 02/06/2023)
MoAIT and Mashreq join forces with a AED1b fund to boost UAE's industrial sector, investment ecosystem (WAM 02/06/2023)
Americana Restaurants included in MSCI UAE Index (WAM 02/06/2023)
Ministry of Finance announces new decisions relating to corporate tax for free zones (WAM 01/06/2023)
Innovative financing solutions attract firms to UAE amid global capital crunch (WAM 01/06/2023)
ADNOC Logistics & Services surges 58% on debut (WAM 01/06/2023)
UAE exports projected to reach AED2t by 2030 (WAM 01/06/2023)
MoIAT partners with FAB to provide AED5b financing to investors in industrial sectors (WAM 01/06/2023)
FAB successfully prices US$600m 5-year green bond (WAM 01/06/2023)
CBUAE issues guidance for licensed financial institutions on anti-money laundering, combatting financing of terrorism (WAM 31/05/2023)
Emirates Development Bank unveils AED424m in financing deals at Make It in the Emirates Forum (WAM 31/05/2023)
MoF issues Corporate Tax Decisions on Intra-Group Transfers, Determination of Taxable Income, Restructuring Relief (WAM 31/05/2023)
Central Bank issues guidelines on anti-money laundering related to virtual assets (The National 31/05/2023)
Mubadala-backed Tabby increases debt facility to $350m (The National 31/05/2023)
Investment Corporation of Dubai’s 2022 net profit surges fivefold on revenue boost (The National 31/05/2023)
MENAFATF upgrades UAE's ratings for FATF recommendations (WAM 30/05/2023)
Cabinet Decision on FTA services fees effective Thursday (WAM 30/05/2023)
MoF issues new decisions on tax grouping, interest capping and unincorporated partnerships (WAM 30/05/2023)
S&P affirms Abu Dhabi's rating on 'strong' fiscal and external positions (The National 30/05/2023)
Announced hydrogen projects represent $320b investments through 2030 (WAM 29/05/2023)
DEWA commissions 60 MIG water reservoir in Lusaily with investments totalling AED157.4m (WAM 29/05/2023)
Dubai’s Department of Economy and Tourism launches ‘QR Code’ initiative for Holiday Homes in Dubai (WAM 29/05/2023)
First-quarter profit of UAE’s top 10 banks up 35% on lower impairments (The National 29/05/2023)
UAE Mergers & Acquisitions news
National Bonds increases stake in Taaleem Holding to 22% (WAM 05/06/2023)
UAE bilateral trade news
President receives written message from President of Cyprus on bilateral ties (WAM 05/06/2023)
AD Ports Group inks 25 years agreement with Crystal Offshore (WAM 04/06/2023)
Khaled bin Mohamed bin Zayed receives King of Bhutan (WAM 03/06/2023)
Al Zeyoudi discusses boosting economic trade with Mexican delegation (WAM 02/06/2023)
UAE participates in ICAO's 2nd World Aviation Forum (WAM 02/06/2023)
MoIAT partners with MEXT to implement Industrial Technology Transformation Index (WAM 02/06/2023)
Al Zeyoudi addresses US GreenTech delegation in Dubai, invites private-sector to invest in Clean Energy (WAM 02/06/2023)
UAE teams up with Turkey to implement new technology index (The National 02/06/2023)
Dubai Silicon Oasis participates at GITEX Africa 2023 (WAM 01/06/2023)
Al Zeyoudi, Scottish Cabinet Secretary discuss accelerating joint projects in high-growth sectors (WAM 01/06/2023)
FANR presents its achievements to IAEA international Meeting on Safety and Security of Radioactive Sources (WAM 01/06/2023)
UAE participates in Annual Meeting of Board of Governors of New Development Bank (WAM 31/05/2023)
UAE President receives phone call from President of Democratic Republic of Congo (WAM 31/05/2023)
Maktoum bin Mohammed meets with UK’s Economic Secretary to the Treasury (WAM 31/05/2023)
UAE and Turkey ratify Cepa deal (The National 31/05/2023)
EDGE concludes successful LIMA 2023, strengthening its presence in Southeast Asia (WAM 30/05/2023)
UAE Central Bank, Hong Kong Monetary Authority strengthen Financial Cooperation (WAM 30/05/2023)
Dubai Chamber of Digital Economy concludes visit to Asia to engage with startups and tech talent (WAM 30/05/2023)
UAE participates in G20 Trade and Investment Working Group Meeting in India (WAM 30/05/2023)
UAE’s Tabreed to acquire cooling infrastructure in Indian IT park (The National 30/05/2023)
UAE participates in Czech Republic Defence Industry Exhibition (WAM 29/05/2023)
DP World, Standard Bank partner to expand trade finance in Africa (WAM 29/05/2023)
Leading up to COP28 in the UAE (30th November - 12th December 2023)
Why diverse voices are key for the UAE's 'Cop of implementation' (The National 05/06/2023)
'National Sustainability Campaign' reinforces UAE's efforts to address climate action (WAM 03/06/2023)
National Media Office presents UAE’s role in tackling climate change, hosting COP28 (WAM 02/06/2023)
Backing the UAE’s road to net zero as Cop28 approaches (The National 02/06/2023)
'Make it in the Emirates' addresses industrial decarbonisation ahead of COP28 (WAM 31/05/2023)
International energy organisations, officials offer full support to UAE COP28 Presidency (WAM 30/05/2023)
'Road to COP28' galvanises stakeholders in preparation for COP28 (WAM 30/05/2023)
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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
