UAE Weekly Business News 06/11/23
Welcome to Gateway Group's weekly collection of business highlights from Abu Dhabi and Dubai. It's the ideal way of staying informed about crucial UAE business news, conveniently in one place.
Simply scan through the headlines and choose the ones relevant to you. To read the full article, click the headline. The source is in purple for reference.
Don't miss it
The UAE Weekly Business News is published every Monday. Subscribe to our blog to receive it in your inbox automatically.
UAE Weekly Business News, Issue 161. 6th November 2023.
UAE free zones news
SRTIP: A global incubator for prominent renewable energy and smart manufacturing projects (WAM 03/11/2023)
ADGM introduces world's first DLT Foundations Regime (WAM 02/11/2023)
DIEZ launches AED500m venture capital fund to finance technology startups (WAM 01/11/2023)
ADGM welcomes Al Reem Island businesses to its community (WAM 01/11/2023)
DFM, Tawasal partner to boost accessibility and investor engagement (WAM 31/10/2023)
KEZAD announces $90m investment in Abu Dhabi food and auto hub (Arabian Business 31/10/2023)
Hub71 welcomes 23 startups as its 13th cohort (WAM 30/10/2023)
UAE employment, visa and Emiratisation news
‘Can my employer deny bereavement leave and hold my passport?' (The National 05/11/2023)
MoHRE launches guidebooks for private sector, Emirati professionals to raise awareness on Emiratisation decisions, Nafis (WAM 04/11/2023)
Single GCC tourism visa a boon for region, Dubai Airports chief says (The National 03/11/2023)
Everything you need to know about the new end-of-service savings scheme (The National 02/11/2023)
UAE's new end-of-service scheme for private and free zone workers begins (The National 01/11/2023)
UAE business and trade news
ICBA, Al Rostamani Group partner to expand agricultural capacity development (Khaleej Times 06/11/2023)
Dubai Municipality ramps up monitoring of Men’s salons for health and safety (Arabian Business 06/11/2023)
Dubai skyrocketing real estate rents could strain startup sector growth (Arabian Business 06/11/2023)
Dubai Customs soars with 41.6m passengers at Dubai Int’l Airport in H1 2023 (Government of Dubai Media Office 05/11/2023)
Abu Dhabi Centre for Technical and Vocational Education and Training partners with Abu Dhabi Early Childhood Authority (Abu Dhabi Media Office 05/11/2023)
Dubai to build 40 air-conditioned rest areas for delivery riders (The National 05/11/2023)
Dubai mid-market properties see strongest demand and gains (Khaleej Times 05/11/2023)
Dubai communities becoming greener, thanks to COP28 (Khaleej Times 05/11/2023)
Dubai International Airport expects 85m passengers in 2023 (Arabian Business 05/11/2023)
UAE and Saudi Arabia among top 10 tourism growth destinations (The National 04/11/2023)
Dubai real estate sector records $3.2bn of transactions this week, including $31m Palm Jumeirah apartment (Arabian Business 04/11/2023)
PureHealth partners with Dell Technologies to utilise generative AI (WAM 03/11/2023)
Etihad Airways continues to uphold highest safety standards in aviation (WAM 03/11/2023)
Tadweer and Abu Dhabi Airports partner to explore innovative waste management practices (Abu Dhabi Media Office 03/11/2023)
Abu Dhabi real estate: Saadiyat Island tops chart for rental yield, capital gains for Q3 2023 (Arabian Business 03/11/2023)
IAPH World Ports Conference Abu Dhabi 2023 highlights maritime cyber resilience and sustainability (WAM 02/11/2023)
Digital DEWA’s Moro Hub and SAP announce intention to host Public Cloud on Zero-Carbon Data Centre (WAM 02/11/2023)
Dubai marks start of 2023-2024 cruise season with first luxury liner docking at Mina Rashid (WAM 02/11/2023)
Microsoft Chairman and CEO highlights AI innovation in transforming the UAE’s economy (WAM 02/11/2023)
Dubai Business Forum explores role of advanced technology in transforming business (WAM 02/11/2023)
Dubai International Chamber attracts six international companies (WAM 02/11/2023)
MENA’s growing education sector boosts stationery industry, says study (WAM 02/11/2023)
18th edition of Dubai Airshow to begin 13th November (WAM 02/11/2023)
Dubai Chamber of Digital Economy signs four MoUs to enhance Dubai’s digital ecosystem (WAM 02/11/2023)
International Nursing, Midwifery & Allied Health Congress to kick off on November 9 (WAM 02/11/2023)
du partners with Dubai Health Authority to revolutionise cloud infrastructure (WAM 02/11/2023)
Abu Dhabi Judicial Department raises legal awareness on medication transport regulations (WAM 02/11/2023)
Wizz Air commences operations from new Terminal At Abu Dhabi Airport (WAM 02/11/2023)
Department of Municipalities and Transport launches Abu Dhabi Real Estate Centre (WAM 02/11/2023)
Khaled bin Mohamed bin Zayed receives Maktoum bin Mohammed bin Rashid at ADNOC’s headquarters (Abu Dhabi Media Office 02/11/2023)
Dubai seeks to add 30,000 jobs in gaming sector over next 10 years (The National 02/11/2023)
Dubai expects double-digit growth in cruise passengers this season (The National 02/11/2023)
Abu Dhabi realty shows resilience and sustainable growth in third quarter (Khaleej Times 02/11/2023)
High demand continues to drive UAE commercial realty in Q3 (Khaleej Times 02/11/2023)
Agthia, Microsoft join forces to revolutionise food industry (Arabian Business 02/11/2023)
YallaHub to accelerate UAE quick e-commerce beauty market in partnership deal with Rada Russkikh (Arabian Business 02/11/2023)
Dubai, Abu Dhabi hotels running out of space as COP28, F1 come to the UAE (Arabian Business 02/11/2023)
DoH inaugurates nationwide Clinical Genomic Medicine and Genetic Counselling programme (WAM 01/11/2023)
Dubai Business Forum highlights key roles of SMEs in accelerating economic growth (WAM 01/11/2023)
Knowledge Summit 2023 highlights role of knowledge in shaping 5th Industrial Revolution (WAM 01/11/2023)
Abu Dhabi International Airport’s Terminal A ushers major milestone for UAE’s aviation sector (WAM 01/11/2023)
Abu Dhabi welcomes first cruise liner commencing 2023-2024 cruise season (WAM 01/11/2023)
NYUAD, Times Higher Education to host THE MENA Universities Summit in UAE (WAM 01/11/2023)
M42’s Healthpoint launches state-of-the-art catheterisation laboratory in Abu Dhabi (WAM 01/11/2023)
Abu Dhabi Chamber signs MoU with FAB to optimise investment climate, business environment (WAM 01/11/2023)
Dubai set to become trading and smart manufacturing hub despite challenges (The National 01/11/2023)
King's KIDEO Clinic at Park Heights: Pioneering Care for Diabetes, Endocrine, and Obesity Challenges in the UAE (Khaleej Times 01/11/2023)
Air France expands global network with daily direct flights to Abu Dhabi (Arabian Business 01/11/2023)
New UAE fertility law legalises surrogacy for some residents, clinics predict demand surge (Arabian Business 01/11/2023)
UAE President receives Mohammed bin Rashid (WAM 31/10/2023)
Etihad Airways operates first commercial flight opening Terminal A (WAM 31/10/2023)
14th World Islamic Economic Forum in Abu Dhabi to focus on sustainable future (WAM 31/10/2023)
NMDC Group signs international cooperation agreement with AD Ports Group (WAM 31/10/2023)
Under UAE President's directives, Abu Dhabi International Airport to be renamed Zayed International Airport (WAM 31/10/2023)
Dubai to host Medlab Middle East in February 2024 (WAM 31/10/2023)
Hydrogen Council grows in size as momentum for clean hydrogen soars; welcomes three new industry leaders (WAM 31/10/2023)
Dubai records 116,116 new real estate transactions worth AED429.67b in 9 months (WAM 31/10/2023)
NMDC Group announces new brand identity (WAM 31/10/2023)
Ministry of Education launches programme to empower Emiratis in education sector (WAM 31/10/2023)
ADU to host certified sustainability programme to advance students’ knowledge (WAM 31/10/2023)
Abu Dhabi International Airport’s Terminal A to open across three phases (Abu Dhabi Media Office 31/10/2023)
Ministry of Health and Prevention and Department of Health – Abu Dhabi partnership facilitates access to patient records across Abu Dhabi and other emirates (Abu Dhabi Media Office 30/10/2023)
Etihad operates first commercial flight from new Terminal A (The National 31/10/2023)
Uber to increase investment in the UAE by accelerating green ride initiative (The National 31/10/2023)
UAE rated world’s second most economically stable country (Khaleej Times 31/10/2023)
Abu Dhabi: Full list of airlines that will fly to new airport terminal on Nov 1-14 (Khaleej Times 31/10/2023)
Agritech firm FarmERP announces AI, machine learning food software to improve Middle East food security (Arabian Business 31/10/2023)
UAE 'taking right steps' in advanced air mobility, Boeing says (The National 30/10/2023)
Flydubai starts new operations to Cairo and Poznan (Khaleej Times 30/10/2023)
Air Canada launches inaugural direct flight from Dubai to Vancouver (Arabian Business 30/10/2023)
UAE urges f&b sector to adopt ‘climate conscious catering’ for COP28 (Arabian Business 30/10/2023)
UAE financial news
NAMLCFTC issues guidance on combating use of unlicensed virtual asset service providers (WAM 06/11/2023)
UAE corporate tax: Do businesses still need economic substance reporting? (The National 06/11/2023)
Profits at RAK Properties more than double on the back of multiple new launches and record sales growth (Arabian Business 06/11/2023)
Ministry of Finance announces new Corporate Tax decisions related to free zones (WAM 03/11/2023)
Empower records AED2.27b revenue for first nine months of 2023 (WAM 03/11/2023)
AMF, SBP sign MoU to facilitate cross-border remittances between Arab region and Pakistan (WAM 03/11/2023)
ADIB releases its Sustainable Finance Framework (WAM 03/11/2023)
UAE’s non-oil business activity hits highest level in four years (The National 003/11/2023)
Americana Restaurants net profit in first nine months up by 15.8% to $226.7m Y-o-Y (WAM 02/11/2023)
Waha Capital reports net profit of AED407m for the first nine months of 2023 (WAM 02/11/2023)
Alpha Dhabi's net profit surpasses AED11.6b in first nine months (WAM 02/11/2023)
ADX partners with HSBC to develop digital assets (WAM 02/11/2023)
CBUAE encouraging banks to embrace digital transformation: S&P report (WAM 02/11/2023)
DFSA imposes $370,000 fine on FFA Private Bank over system failures (The National 02/11/2023)
Dubai debtors who prove inability to pay could avoid imprisonment (The National 02/11/2023)
UAE ‘leading the way’ in sustainable finance globally (Arabian Business 02/11/2023)
FTA issues guide for non-resident persons for corporate tax purposes (WAM 01/11/2023)
CBUAE maintains Base Rate at 5.40% (WAM 01/11/2023)
UAE's e& poised to lead GCC telecom operators' revenue growth in 2024 (The National 01/11/2023)
Tecom's third-quarter profit rises 34% on strong demand for commercial properties (The National 01/11/2023)
Abu Dhabi’s Aldar profits jump 48% on back of AED19bn-plus sales surge driven by international property investors (Arabian Business 01/11/2023)
DFM reports strong financial results for 9M 2023, net profit up 109% (Arabian Business 01/11/2023)
e& reports 20% growth in net profit for Q3-23 (WAM 31/10/2023)
MENA Investor Community key force in unlocking $4t per year in Climate Finance (WAM 31/10/2023)
Trakhees reports 19% growth in special development areas' transactions in Q3 2023 (WAM 31/10/2023)
Burjeel's net profits grow by 76.4% in 9 months (WAM 31/10/2023)
Dubai Islamic Bank profit climbs 20% driven by higher revenue (The National 31/10/2023)
UAE economy expands by 3.7% in first half on 'staggering' non-oil growth (WAM 30/10/2023)
du net profits grow 57.7% to AED504m in Q3-23 (WAM 30/10/2023)
Dubai’s taxi operator plans $300m IPO: Report (Arabian Business 30/10/2023)
UAE mergers and acquisitions news
UAE bilateral trade news
UAE Foreign Minister, French counterpart discuss latest regional developments, bilateral ties (WAM 06/11/2023)
UAE delegation meets the White House to advance bilateral relations in science, technology and space (WAM 04/11/2023)
EDCC to organise UAE National Pavilion at Thailand Defense and Security Exhibition 2023 (WAM 02/11/2023)
UAE Ministry of Education and its counterpart in India strengthen educational collaboration (WAM 02/11/2023)
UAE-Japan Women’s Friendship Committee promotes diversity and sustainability in energy industry (WAM 02/11/2023)
Lootah Biofuels inks MoU with Atmosphere Hotels & Resorts to produce biofuel in Maldives (WAM 02/11/2023)
Dubai Chambers signs MoU with PT Bank Syariah Indonesia (WAM 02/11/2023)
Bin Touq leads UAE delegation to ‘COMEUP 2023’ startup festival in Korea (WAM 02/11/2023)
Ducab Group signs MoU with Somagec Group marking its entry in Angola (WAM 02/11/2023)
DEWA discusses cooperation in clean, renewable energy with German delegation (WAM 02/11/2023)
Joint Statement of Tenth U.S.-UAE Economic Policy Dialogue (WAM 02/11/2023)
UAE and Jordan sign agreements to expand investment cooperation in key sectors (WAM 01/11/2023)
UAE is the largest investor in Jordan (WAM 01/11/2023)
UAE, Jordan leading efforts to enhance climate action and accelerate energy transition (WAM 01/11/2023)
Dubai Chambers, Hamburg Chamber of Commerce sign agreement to establish new ‘Innovation Corridor’ (WAM 01/11/2023)
UAE, Türkiye expanding trade and commercial relations (WAM 31/10/2023)
UAE President receives Azerbaijan Foreign Minister (WAM 31/10/2023)
UAE, Uzbekistan explore opportunities for strengthening cooperation, developing partnerships (WAM 31/10/2023)
Canada-UAE 2023 bilateral trade set to surpass 2022’s figures (WAM 31/10/2023)
Leading up to COP28 in the UAE
30th November-12th December 2023
COP28 Presidency hosts breakthrough meeting that agrees recommendations on operationalisation of Loss and Damage Fund (WAM 05/11/2023)
Arab countries to launch new climate initiatives at COP28 (WAM 04/11/2023)
ADGM to host Abu Dhabi Sustainable Finance Forum during COP28 (WAM 03/11/2023)
Razan Al Mubarak calls on shipping industry to join Ocean Breakthroughs to support climate, biodiversity (WAM 03/11/2023)
Pre-COP in Abu Dhabi builds momentum for successful COP28: Japanese Minister (WAM 03/11/2023)
Expo City accelerates COP28 preparations, reaffirming UAE's global leadership (WAM 02/11/2023)
COP28 President calls on Multilateral Development Banks to work faster to address climate finance and development challenges (WAM 02/11/2023)
Pre-COP in Abu Dhabi has set the ground for ambitious climate deal at COP28: Danish minister (WAM 02/11/2023)
M42 to address sustainability challenges at COP28 (WAM 02/11/2023)
UAE COP28: Pope to attend for the first time in summit history (Arabian Business 02/11/2023)
King Charles to attend World Climate Action Summit at COP28 UAE (WAM 01/11/2023)
COP28 Presidency announces ‘Net-Zero Transition Charter: Accountability mobilisation for the private sector’ (WAM 01/11/2023)
Abdullah bin Zayed, John Kerry discuss climate change; preparations for COP28 (WAM 31/10/2023)
UAE President meets with participants in Pre-COP ministerial meetings (WAM 30/10/2023)
COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP event on fast-tracking energy transition (WAM 30/10/2023)
Cop28 opportunity for capital market commitment and blended finance, IFC head says (The National 30/10/2023)
Cop28 presidency calls for tripling of renewable power capacity (The National 30/10/2023)
If you found this resource informative and helpful,
please show your appreciation by clicking the ❤️ at the bottom of this page.
Thank you.
Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi & Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East
