UAE Weekly Business News 05/12/23
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UAE Weekly Business News, Issue 165. 5th December 2023.
UAE free zones news
Egyptian billionaire Nassef Sawiris to move family office to Abu Dhabi (The National 05/12/2023)
DFSA waives regulatory fees on ESG listings on Nasdaq Dubai (WAM 04/12/2023)
ADIO and Faraday Future unleash generative AI and advanced EVs for Abu Dhabi's SAVI cluster (WAM 04/12/2023)
DIFC launches Sustainable Finance Catalyst to scale sustainable finance from Dubai (WAM 03/12/2023)
Masdar, PLN advance plans to develop world's largest floating solar plant in Indonesia (WAM 03/12/2023)
Abu Dhabi Global Market announced as home to $30b ALTÉRRA (WAM 01/12/2023)
Metal Park and Galva Hub Partner to Create UAE’s Largest Galvanising Pool in KEZAD (WAM 01/12/2023)
‘Astra Tech’ to launch first financial services powered by AI in 2024: CEO and Co-Founder (WAM 01/12/2023)
Ajman Bank signs MoU with Abu Dhabi Global Market during Abu Dhabi Finance Week (WAM 30/11/2023)
ADGM, CPX sign MoU to strengthen cyber security resilience (WAM 30/11/2023)
Masdar Green REIT becomes first fund to receive ADGM Green Fund Designation (WAM 30/11/2023)
Indian venture debt fund Stride Ventures obtains initial approval from ADGM (Arabian Business 30/11/2023)
SRTI Park hosts 3rd Innovation Technology Transfer Forum (WAM 29/11/2023)
Dubai Free Zones Council enhances attraction of national talent and streamlining investor’s journey (WAM 29/11/2023)
ADGM launches 'Mediation in the Metaverse' initiative during Abu Dhabi Finance Week (WAM 29/11/2023)
UAE employment, visa and Emiratisation news
‘Can I be denied a housing allowance if I’m married?’ (The National 03/12/2023)
UAE jobs: Should jobseekers put their photograph on a CV? Experts weigh in (Arabian Business 01/12/2023)
MoHRE notifies over 12,000 private companies to comply Emiratisation targets (WAM 30/11/2023)
Emiratisation: smaller firms told to hire Emiratis or face $26,000 fine (Arabian Business 30/11/2023)
UAE firm e& offers 4-day working week to employees (Arabian Business 30/11/2023)
MoHRE: Private healthcare sector begins signing ‘Studying Citizen Employment Contract’ (WAM 29/11/2023)
MoHRE refers 113 private companies to Public Prosecution for fake Emiratisation cases, circumvention of Emiratisation targets (WAM 29/11/2023)
ADGM FSRA publishes Discussion Paper on IT Risk Management (WAM 29/11/2023)
UAE business and trade news
Big 5 Global 2023 opens in Dubai spotlighting sustainability and decarbonisation (WAM 05/12/2023)
Dubai Chamber of Digital Economy attracts 101 digital startups to Dubai within nine-month period (Government of Dubai Media Office 05/12/2023)
RTA endorses AED2.5b investment portfolio featuring 10 projects in partnership with private sector (Government of Dubai Media Office 05/12/2023)
Ooredoo, Zain and TASC create $2.2b telecom tower company (The National 05/12/2023)
Masdar and Iberdrola in $16b pact for wind and hydrogen projects (The National 05/12/2023)
Ras Al Khaimah slashes business fees (Arabian Business 05/12/2023)
ADNOC, Tabreed commence operations at region’s first geothermal cooling plant in Masdar City (WAM 04/12/2023)
Adnoc and Tabreed assess more sites for geothermal cooling plants (The National 04/12/2023)
Maktoum bin Mohammed meets with Ruth Porat, President of Google (WAM 03/12/2023)
M42 partners with Siemens to enhance energy efficiency across UAE health sector (Abu Dhabi Media Office 03/12/2023)
Mubadala-owned Cepsa partners with C2X on AED4b green methanol project (Abu Dhabi Media Office 03/12/2023)
Abu Dhabi Department of Energy launches Abu Dhabi Energy Outlook 2050 ahead of COP28 UAE (Abu Dhabi Media Office 03/12/2023)
Dubai’s resilient real estate sector: Transitioning from conflict to prosperity (Khaleej Times 03/12/2023)
Union Day is occasion to redouble efforts to advance nation globally: Khaled bin Mohamed bin Zayed (WAM 02/12/2023)
Anniversary of Union Day marked with noble meanings and virtues: Mohammed bin Rashid (WAM 02/12/2023)
Dubai real estate sector sees $2.4bn of transactions this week, including huge $41m mortgage in Palm Jumeirah (Arabian Business 02/12/2023)
People of the UAE are central to our efforts to progress: UAE President (WAM 01/12/2023)
Dubai launches landmark Dubai Reef project, one of world's largest marine reef developments (WAM 01/12/2023)
Tadweer, Aquagrain to deploy UAE’s first ever organic waste to soil enhancing technology (WAM 01/12/2023)
Polestar to open retail outlet in Abu Dhabi (The National 01/12/2023)
Dubai real estate experts silence ‘oversupply’ concerns as UAE sees influx of luxury property developments (Arabian Business 01/12/2023)
COP28 explainer: What is the Global Stocktake? (Arabian Business 01/12/2023)
UAE to cut additional 163,000 bpd starting January 1st through March 31st 2024 (WAM 30/11/2023)
First SAF-powered rotocraft flight in UAE and Middle East set with Abu Dhabi Aviation AW139 commercia copter (WAM 30/11/2023)
Dubai Chamber of Digital Economy discusses priorities and initiatives for 2024 (WAM 30/11/2023)
EDGE Group continues stellar international growth, consolidating its position as industry leader (WAM 30/11/2023)
Dubai Free Zones Council collaborates with Economic Security Centre of Dubai (WAM 30/11/2023)
Masdar produces 20GW of clean energy, enough to power 5.25m homes worldwide (WAM 30/11/2023)
‘Entrepreneur’s Journey’ guide launched to support start-ups in Abu Dhabi (WAM 30/11/2023)
Integrated Transport Centre deploys first pilot hydrogen-powered taxi in Abu Dhabi (WAM 30/11/2023)
Abu Dhabi positioned in world's fastest-growing economic corridor: Gulf Capital Co-Founder and CEO (WAM 30/11/2023)
Presidents of UAE, US discuss bilateral relations, regional developments (WAM 30/11/2023)
Sustainable coffee brand has sights set on Middle East (Khaleej Times 30/11/2023)
UAE pet taxi: Rise in pet ownership fuels demand for furry-friendly cabs in Dubai, Abu Dhabi (Arabian Business 30/11/2023)
Dubai top choice for international investors seeking affordable real estate with high returns (Arabian Business 30/11/2023)
ENOC Group, Neste sign MoU to drive sustainable aviation fuel initiatives in Dubai, MENA Region (WAM 29/11/2023)
Emirates Steel Arkan, A³&Co. collaborate for cement decarbonization ahead of COP28 (WAM 29/11/2023)
Abu Dhabi International Food Exhibition concludes with a total of AED3.9b in deals and agreements (WAM 29/11/2023)
Dubai Chamber of Commerce reaffirms its commitment to empowering business community (WAM 29/11/2023)
Abu Dhabi Chamber signs 5 cooperation agreements at conclusion of ADIFE 2023 (WAM 29/11/2023)
AED21.4b spent on healthcare in 2022, including AED21.2b in Dubai and AED179m outside the emirate (WAM 29/11/2023)
Abu Dhabi launches the low-carbon hydrogen policy (WAM 29/11/2023)
Dubai announces ambitious clean energy initiative to electrify domestic manufacturing sector’s competitiveness and sustainability efforts (WAM 29/11/2023)
Etihad Airways to fly its Airbus A380 to New York in April 2024 (WAM 29/11/2023)
Dubai Association Centre Conference set to return in 2024 (WAM 29/11/2023)
Theyab bin Mohamed bin Zayed witnesses signing of strategic partnership between Etihad Rail, ADNOC (WAM 29/11/2023)
ENEC launches ADVANCE programme to accelerate decarbonisation through advanced nuclear technologies (WAM 29/11/2023)
A Closer Look: All the details of Dubai's new Dh18b metro line (The National 29/11/2023)
Etihad Rail to run Abu Dhabi to Al Dhannah passenger service (The National 29/11/2023)
Abu Dhabi announces new railway plan (Arabian Business 29/11/2023)
Net zero asset manager HYCAP Group expands to UAE (WAM 28/11/2023)
DoH, Viatris sign MoU to enhance Abu Dhabi’s mental health primary care models (WAM 28/11/2023)
Khaled bin Mohamed bin Zayed launches Advanced Technology Research Council’s new AI company AI71 (WAM 28/11/2023)
UAE to launch pricing mechanism to boost private investment in EV infrastructure (The National 28/11/2023)
Dubai airport prepares for winter season with 20% flight boost (Arabian Business 28/11/2023)
UAE financial news
Trading Commences on the Dubai Financial Market’s Carbon Credits Pilot Platform (Government of Dubai Media Office 05/12/2023)
UAE corporate tax: Keeping up with accounting standards (The National 04/12/2023)
Pure Health Holding to list over 1b shares on ADX (WAM 01/12/2023)
Abu Dhabi Finance Week witnesses 28 new signatories for Abu Dhabi Sustainable Finance Declaration (WAM 30/11/2023)
Dubai Healthcare City records 12% YoY increase as it celebrates 21 years of excellence and empowering partnerships (WAM 30/11/2023)
Global Financial Regulator’s Summit hosts its second edition at ADFW 2023 (WAM 30/11/2023)
14 leading financial institutions, representing over US$450bn, confirm setup in Abu Dhabi in one week (WAM 30/11/2023)
ADGM official anticipates strong growth in UAE's FinTech sector in next 3 years (WAM 30/11/2023)
Dubai Taxi Company sucessfully completes bookbuild for IPO raising AED1.2b with global offering 130 times oversubscribed (WAM 30/11/2023)
7th Edition of Fintech Abu Dhabi explores synergy between finance and technology (WAM 30/11/2023)
CBUAE hosts launch of Islamic Finance Infrastructure Organisations’ Declaration: Roadmap for Islamic Sustainable Finance (WAM 30/11/2023)
United Arab Bank launches its first Green Sustainable Finance products ahead of COP28 (WAM 29/11/2023)
CBUAE issues new AED500 polymer banknote designed to reflect the UAE’s leadership in sustainability (WAM 29/11/2023)
FAB becomes first MENA bank to publish a climate report in alignment with TCFD framework (WAM 29/11/2023)
'Asset Abu Dhabi' discusses emirate's rapidly changing investment landscape at ADFW 2023 (WAM 28/11/2023)
Abu Dhabi IPO Fund working on three initial offerings in several sectors (WAM 28/11/2023)
ADX teams up with FTSE for new ESG index to boost sustainable investment (The National28/11/2023)
UAE mergers and acquisitions news
Masdar acquires 1GW renewable portfolio in Poland, expanding European presence (WAM 04/12/2023)
Aldar acquires UK property developer London Square for $291m (The National 01/12/2023)
Aster DM Healthcare seals deal for sale of GCC business for $1b (Arabian Business 29/11/2023)
UAE bilateral trade news
President Sheikh Mohamed arrives in Doha for GCC summit (The National 05/12/2023)
ADQ and Qazaqstan Investment Corporation establish co-investment platform (WAM 04/12/2023)
UAE President, King of Morocco sign declaration towards a solid and innovative partnership (WAM 04/12/2023)
Hamdan bin Zayed receives President of Angola (WAM 04/12/2023)
UAE, Vietnam to expand relations ahead of CEPA (WAM 04/12/2023)
Ahmad Belhoul Al Falasi receives Romanian President during COP28 (WAM 04/12/2023)
ENEC signs commercial uranium contract with Kazakhstan’s Kazatomprom (WAM 04/12/2023)
Mansour bin Zayed, President of Mauritania discuss bilateral ties at COP28 (WAM 04/12/2023)
COP28 sets the table for sustainable food driving climate action (WAM 04/12/2023)
ENEC, TerraPower to accelerate nuclear technology implementation (WAM 04/12/2023)
Dubai Municipality reveals city’s sustainable future at COP28 workshops (WAM 04/12/2023)
Putin to visit UAE, Saudi Arabia this week, Russian news outlet says (The National 04/12/2023)
Presight, Samruk Kazyna announce joint venture to accelerate digital transformation in Kazakhstan (WAM 03/12/2023)
Masdar and EDF sign agreement with Kyrgyzstan to develop up to 3.6GW of hydropower and renewable Projects (WAM 03/12/2023)
ENEC, GE Hitachi sign MoU for potential investment and deployment of Small Modular Technology (WAM 03/12/2023)
Mansour bin Zayed, President of Turkmenistan discuss enhancing bilateral relations on sidelines of COP28 (WAM 03/12/2023)
UAE, Uzbekistan sign MoU to facilitate investments in energy sector (WAM 03/12/2023)
Tahnoun bin Zayed meets Bill Gates on sidelines of COP28 in Dubai (WAM 03/12/2023)
UAE Space Agency officially launches operational phase of Geo-Spatial Analytics Platform at COP28 (WAM 03/12/2023)
COP28 galvanises finance and global unity for forests and the ocean (WAM 03/12/2023)
COP28 Presidency hosts day to drive action to support world’s most vulnerable countries (WAM 03/12/2023)
Masdar, PLN advance plans to develop world's largest floating solar plant in Indonesia (WAM 03/12/2023)
UAE President holds additional meetings with delegation heads at COP28 (WAM 03/12/2023)
AD Ports Group and Vietnam Maritime Administration sign MoU to enhance Ports and Maritime collaboration (WAM 03/12/2023)
Mansour bin Zayed, Prime Minister of Vietnam discuss cooperation during COP28 (WAM 03/12/2023)
MoIAT signs MoU with Vietnam’s Ministry of Science and Technology at COP28 (WAM 03/12/2023)
Saif bin Zayed meets Prime Minister of Iraqi Kurdistan on sidelines of COP28 (WAM 03/12/2023)
UAE, Kazakhstan to develop low-carbon energy sources (WAM 03/12/2023)
UAE and Philippines agree on negotiation scope for CEPA (WAM 03/12/2023)
AD Ports Group partners with Kazakhstan Railways to enhance industrial infrastructure in Kazakhstan (Abu Dhabi Media Office 03/12/2023)
UAE and Kazakhstan sign landmark agreements to develop 1GW of renewables capacity (WAM 02/12/2023)
UAE and Brazilian Presidents discuss bilateral relations and COP28 objectives (WAM 02/12/2023)
Tahnoun bin Zayed meets Presidents of Colombia and Kazakhstan (WAM 02/12/2023)
Hamdan bin Mohammed meets with world leaders and heads of state on the sidelines of COP28 (WAM 02/12/2023)
UAE President discusses bilateral relations and COP28 with Colombian President (WAM 02/12/2023)
UAE President discusses bilateral relations and regional developments with US Vice President at COP28 (WAM 02/12/2023)
UAE defence industries to make strong presence at EDEX 2023 in Egypt (WAM 02/12/2023)
AD Ports Group, Kazakhstan Railways form JV to enhance connectivity, industrialisation in Central Asia (WAM 02/12/2023)
Masdar to develop 150MW solar plant in Angola to power 90,000 homes (WAM 02/12/2023)
Masdar, Hellenic Republic's Ministry of Environment and Energy sign agreement during COP28 (WAM 02/12/2023)
UAE President meets with heads of delegations participating at COP28 (WAM 02/12/2023)
COP28 Presidency launches landmark initiatives accelerating energy transition (WAM 02/12/2023)
Saif bin Zayed and Prime Minister of the island of Curaçao discuss ways to strengthen cooperation (WAM 02/12/2023)
UAE and Colombia finalise terms of Comprehensive Economic Partnership Agreement (WAM 02/12/2023)
Masdar joins forces with RWE in £11b investment to co-develop massive 3GW offshore wind projects in UK (WAM 01/12/2023)
UAE President and Presidents of Brazil and Paraguay witness signing of joint declaration for cooperation on Bi-Oceanic Corridor (WAM 01/12/2023)
Hamdan bin Mohammed meets with King Charles III on the sidelines of COP28 in Dubai (WAM 01/12/2023)
UAE President meets with leaders of Germany and Serbia at COP28 (WAM 01/12/2023)
UAE President and King of Malaysia witness major step forward in development of 10GW clean energy projects in Malaysia (WAM 01/12/2023)
UAE President discusses bilateral relations and climate challenges with delegation heads at COP28 (WAM 01/12/2023)
DCT Abu Dhabi’s ADCEB attends International Congress and Convention Association in Thailand (WAM 01/12/2023)
UAE to develop 6.6GW of clean energy capacity in India (The National 01/12/2023)
UAE and Philippines sign MoU to boost digital infrastructure collaboration (WAM 30/11/2023)
Mohammed bin Rashid meets with King Charles III on sidelines of COP28 in Dubai (WAM 30/11/2023)
UAE President meets with King Charles III at COP28 in Dubai (WAM 30/11/2023)
Mohammed bin Rashid welcomes world leaders and delegates participating in COP28 (WAM 30/11/2023)
ADIO, ARTE Capital partner to foster investment in Abu Dhabi (WAM 30/11/2023)
ADIO, CCB International to boost Chinese investment in Abu Dhabi (WAM 30/11/2023)
UAE President meets with heads of delegations at COP28 (WAM 30/11/2023)
UAE President receives President of Togo (WAM 29/11/2023)
UAE President receives President of Cooperative Republic of Guyana (WAM 29/11/2023)
UAE and Cuban Presidents discuss cooperation and witness exchange of agreements at Expo City Dubai (WAM 29/11/2023)
GCC pushes for UK free trade deal amid $78b ties (Arabian Business 29/11/2023)
UAE President welcomes Mongolian counterpart, oversees exchange of key memoranda (WAM 28/11/2023)
Happening Now: COP28 in the UAE
30th November-12th December 2023
UAE’s Sustainable Trade Forum engages private-sector to deliver trade-led solutions at COP28 (WAM 05/12/2023)
COP28 Finance Day unlocks innovative financial mechanisms to support vulnerable countries fight climate change (WAM 05/12/2023)
Expo City Farm at COP28... a visionary response to climate change challenges (WAM 05/12/2023)
ADIA agrees $100m repo facility at COP28 to incentivise sustainability-linked investments in Africa (WAM 04/12/2023)
COP28 President recaps key wins from first four days of COP28 (WAM 04/12/2023)
Etihad Credit Insurance joins Global Climate Initiative, the Net-Zero Export Credit Agencies Alliance (WAM 04/12/2023)
UAE Government launches Green Capabilities Global Alliance for Government (WAM 04/12/2023)
Mashreq commits AED110b to UAE banking sector’s AED1t sustainable finance by 2030 pledge (WAM 04/12/2023)
CBUAE announces results of COP28 UAE TechSprint initiative (WAM 04/12/2023)
Ministry of Health and Prevention discusses climate change's impact on health and sustainable healthcare at COP28 (WAM 04/12/2023)
FANR announces its project for enhancing Safety of Nuclear Facilities against Climate Change during COP28 (WAM 04/12/2023)
UAE Space Agency organises first-ever Space Agencies Leaders’ Summit at COP28 (WAM 04/12/2023)
UAE financial sector to mobilize AED1t in sustainable finance by 2030 as UAE hosts COP28 (WAM 04/12/2023)
COP28 launches partnership to support women’s economic empowerment, ensure gender-responsive just transition during Gender Equality Day (WAM 04/12/2023)
COP28 mobilises over $57b in first four days, setting the pace for a new era in climate action (WAM 04/12/2023)
Suhail Al Mazrouei highlights UAE's turbocharged drive to transform energy sector (WAM 04/12/2023)
Abu Dhabi-based global centre launched to accelerate climate finance (WAM 04/12/2023)
More than 100 climate tech startups showcase at COP28 (WAM 04/12/2023)
World leaders declare support for tripling global nuclear capacity to reach net zero (WAM 03/12/2023)
EHS achieves 12% reduction in carbon emissions using AI and telemedicine (WAM 03/12/2023)
MoHAP showcases National Plan for Health and Climate Change Response at COP28 (WAM 03/12/2023)
COP28 marks a history with debut of pavilions (WAM 03/12/2023)
GST propels decision-makers to recalibrate climate action for greater effectiveness (WAM 03/12/2023)
Key initiatives on nature, carbon markets, renewables announced at day 2 of COP28 (WAM 03/12/2023)
Climate and environmental issues top priorities of Arabs: Trends’ opinion poll results (WAM 03/12/2023)
MENA region could accelerate GDP to 7.2% by 2050 via serious climate action approach: ILO official (WAM 03/12/2023)
COP28: Oil & Gas Decarbonisation Charter launched to accelerate climate action (WAM 02/12/2023)
Dubai Cares launches its Global Education Solutions Accelerator at COP28 (WAM 02/12/2023)
UAE President meets with President of Uzbekistan at COP28 (WAM 02/12/2023)
Over 120 countries back COP28 UAE Climate and Health Declaration delivering breakthrough moment for health in climate talks (WAM 02/12/2023)
UAE welcomes trade leaders to first ever Trade Pavilion at COP28 (WAM 02/12/2023)
Global Manufacturing and Industrialisation Summit to lead talks on decarbonising manufacturing at COP28 (WAM 02/12/2023)
World Bank carbon credits to boost international carbon markets (WAM 02/12/2023)
Fifty oil and gas companies make pledges on methane and CO2 at Cop28 (The National 02/12/2023)
Mohammed bin Rashid meets with global leaders and heads of international organisations at COP28 (WAM 01/12/2023)
NCM reviews UAE's early warning capabilities during COP28 (WAM 01/12/2023)
COP28: A strong and hopeful start (WAM 01/12/2023)
UAE President announces US$30b Global Climate Fund at opening of World Climate Action Summit (WAM 01/12/2023)
COP28's 'Green Zone' a central hub for climate-related activities (WAM 01/12/2023)
UAE pavilion at COP28 showcases nation’s path towards a sustainable future (WAM 30/11/2023)
UAE announces $100m contribution to fund for climate impact response (WAM 30/11/2023)
UAE President welcomes heads of delegation at COP28 (WAM 30/11/2023)
COP28 President urges bold decision on Global Stocktake, stresses ‘We have the power to do something unprecedented’ (WAM 30/11/2023)
CBUAE hosts events with Islamic finance infrastructure organisations to promote sustainable finance (WAM 30/11/2023)
Complete decarbonisation possible by 2050 with greater policy action: Abu Dhabi Energy Outlook 2050 (WAM 30/11/2023)
UAE Press: COP28 is about bridging gaps in global climate fight (WAM 30/11/2023)
Accelerated energy transition can Add 40 million energy sector jobs by 2050: IRENA (WAM 29/11/2023)
Make most of your COP28 experience with secure COP28 UAE Official App (WAM 29/11/2023)
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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
