UAE Weekly Business News 07/08/23
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UAE Weekly Business News, Issue 148. 7th August 2023.
UAE free zones news
Neweast to establish AED500m automotive parts distribution hub in Jafza (Government of Dubai Media Office 07/08/2023)
RAKEZ concludes successful business mission in Canada (WAM 02/08/2023)
DIFC Courts logs record AED15b in claims value in H1'23 (WAM 01/08/2023)
DFSA fines Mirabaud bank $3m for inadequate anti-money laundering systems (WAM 01/08/2023)
twofour54 unveils fully-fledged film production destination in Abu Dhabi (WAM 01/08/2023)
DIFC posts 23% rise in companies joining financial centre in first half of 2023 (The National 01/08/2023)
UAE employment, visa and Emiratisation news
6,755 GCC nationals working in the UAE: GPSSA (WAM 07/08/2023)
UAE visa overstay fine: Residents, visitors to pay AED50 per day; what you need to know (Khaleej Times 06/08/2023)
UAE announces major Emirates ID update (Arabian Business 05/08/2023)
Emiratis represent 74% of FANR’s workforce (WAM 04/08/2023)
Aurora50 launches 'NOORA' new corporate network for women (WAM 03/08/2023)
TAQA, Accenture, EGA, Emirates Group and ENOC partner with Aurora50 to launch new women's corporate network (WAM 03/08/2023)
LSDA launches heat exhaustion prevention campaigns in Eastern regions (WAM 03/08/2023)
Miral partners with Abu Dhabi Global Market Academy to establish Emirati talent development programme (Abu Dhabi Media Office 02/08/2023)
How can I apply for an Emirates ID? (The National 02/08/2023)
A guide to construction and real estate jobs in the UAE (The National 01/08/2023)
Dulsco launches second intake of graduate training programme for Emiratis in private sector (Arabian Business 01/08/2023)
Abu Dhabi and Dubai trade, economy and investment news
Members' exports value exceeded AED139b during H1'23: Dubai Chamber of Commerce (WAM 07/08/2023)
ADQ, Safe Haven Solutions partner to develop advanced greenhouse facility at AgTech Park (WAM 07/08/2023)
Abu Dhabi courts render 37,536 court judgements in H1 2023 (WAM 07/08/2023)
Moorfields Eye Hospital Dubai introduces Dubai's first cutting-edge Transcanalicular Laser-Assisted Endoscopic Dacryocystorhinostomy Procedure (Khaleej Times 07/08/2023)
Chinese investors surge back into Dubai real estate market with remarkable 130% jump (Arabian Business 07/08/2023)
Kitopi partners with Fresh On Table to embrace sustainable sourcing (Arabian Business 07/08/2023)
Lulu Group, Star Cinemas collaborate for 22 new cinema screens in Abu Dhabi and Al Ain (Arabian Business 07/08/2023)
1,144,741 electricity accounts in Dubai by end of H1, 2023, 5.5% increase in one year (WAM 06/08/2023)
Dubai surpasses pre-pandemic international visitation levels in H1 2023 with 20% YoY growth (WAM 06/08/2023)
Maktoum bin Mohammed announces Ministry of Finance Strategic Plan 2023-2026 (WAM 06/08/2023)
UAE health care: what does basic insurance provide? (The National 06/08/2023)
Higher rents, cheaper properties: Here's why tenants in UAE are increasingly becoming owners (Khaleej Times 06/08/2023)
UAE issues travel ban to Lebanon (Arabian Business 06/08/2023)
GLH, UMS sign partnership agreement to establish first factory for green batteries, power generators (WAM 04/08/2023)
Dubai logs over AED2b in realty transactions Friday (WAM 04/08/2023)
MoIAT adopts UAE Pass across all its digital services (WAM 04/08/2023)
UAE Ministry of Culture & Youth launches programme to support creatives with funding (WAM 04/08/2023)
FANR publishes its 2022 Annual Report; demonstrates robust regulatory systems to ensure safety (WAM 04/08/2023)
Abu Dhabi Health Services Company (SEHA) collaborates with Sanofi to drive innovation in rare disease diagnostics (Abu Dhabi Media Office 04/08/2023)
A guide to mortgages in the UAE as interest rates rise (The National 04/08/2023)
Dubai office space demand surges 23% in H1 (The National 04/08/2023)
Demand soars for AC maintenance as UAE temperatures top 50°C (The National 04/08/2023)
Dubai clinics see 2000% surge in women freezing their eggs (Arabian Business 04/08/2023)
Passenger traffic at Abu Dhabi International Airport during H1 2023 increases 67% y-o-y (WAM 03/08/2023)
Ministry of Climate Change and Environment explores ways to boost national food security at Al Dhaid Farmers' Forum (WAM 03/08/2023)
DXB LIVE to organise 3rd World of Coffee Exhibition in January 2024 (WAM 03/08/2023)
DUBAL Holding, Oriental Copper to manufacture high-quality copper products in UAE (WAM 03/08/2023)
Ma’an strengthens its position as ideal partner for Abu Dhabi businesses to achieve their social responsibility goals (WAM 03/08/2023)
UAE Press: Digital medicine is here to stay (WAM 03/08/2023)
Abu Dhabi University launches emirate’s first academic quantum lab (Abu Dhabi Media Office 03/08/2023)
Business activity in Saudi Arabia and UAE improves in July on continued growth momentum (The National 03/08/2023)
Abu Dhabi residential market records strong annual gains (The National 03/08/2023)
Abu Dhabi public transport journeys hit 85m in first half of 2023 (The National 03/08/2023)
UAE non-oil sector continues to grow at a strong pace, creating more jobs in July (Khaleej Times 03/08/2023)
Number of students in GCC projected to reach 14.2m by 2027: Report (Arabian Business 04/08/2023)
UAE tops global digital shopping index with impressive 134 score, study reveals (Arabian Business 04/08/2023)
Student enrolments in GCC to grow by 1.1m in the next five years, says Alpen Capital (WAM 02/08/2023)
Ministry of Finance enables 'UAE Pass' for all services (WAM 02/08/2023)
DEWA records 6.3m digital transactions in H1 2023 (WAM 02/08/2023)
Mohamed bin Zayed University of Artificial Intelligence launches dedicated robotics and computer science departments (Abu Dhabi Media Office 02/08/2023)
International Council on Archives Congress to take place in Middle East for first time in Abu Dhabi (Abu Dhabi Media Office 02/08/2023)
How Abu Dhabi’s Borouge is driving sustainability in UAE’s petrochemical sector (Khaleej Times 02/08/2023)
Dubai’s real estate market thrives with 38% growth in off-plan transactions in Q2 (Arabian Business 02/08/2023)
Dubai hotels gear up for COP28 boom (Arabian Business 02/08/2023)
ADNOC and Occidental to evaluate carbon management projects in UAE (WAM 01/08/2023)
Dubai Maritime Authority introduces new administrative decision on transparency of local sea container charges (WAM 01/08/2023)
RTA approves the 10th edition of Dubai’s Railway Protection Code of Practice (WAM 01/08/2023)
Minister of Energy and Infrastructure announces National Programme for Infrastructure Development (WAM 01/08/2023)
ADNOC demonstrates steadfast commitment to decarbonising energy system: Suhail Al Mazrouei (WAM 01/08/2023)
Mohamed bin Zayed University for Humanities strengthens position as a leading academic institute attracting international students (Abu Dhabi Media Office 01/08/2023)
How to get the best deal on your UAE mobile phone plan (The National 01/08/2023)
UAE economy expands 3.8% in first quarter on non-oil sector boost (The National 01/08/2023)
e& enterprise partners with Informatica to accelerate data modernisation and governance in UAE (WAM 31/07/2023)
Ministry of Climate Change and Environment launches 'Jassas' Artificial Intelligence System to track (WAM 31/07/2023)
DMT records over AED46.3b in Abu Dhabi real estate transactions in H1 2023 (WAM 31/07/2023)
Year of Sustainability launches 2nd edition of ‘Sustainability Guide’ (WAM 31/07/2023)
Adnoc revises net zero target to 2045 (The National 31/07/2023)
Abu Dhabi property deals more than double to $12.61bn in first half of 2023 (The National 31/07/2023)
King's College Hospital Dubai earns prestigious Centre of Excellence accreditation in orthopaedic surgery (Khaleej Times 31/07/2023)
Global Village opens food cart, kiosk registrations (Arabian Business 31/07/2023)
UAE announces new major project to protect modern architecture (Arabian Business 31/07/2023)
UAE Financial News
Dubai’s BHM Capital successfully integrates with DFM for seamless trading (Arabian Business 07/08/2023)
ADNOC Distribution delivers strong operating performance and growth in underlying profitability in H1 2023 to AED1.57b (WAM 04/08/2023)
ADNOC Gas reports revenue of AED38.9b in H1 2023 (WAM 04/08/2023)
Dubai investments H1 2023 net profit surges 59% to AED580m (WAM 04/08/2023)
Empower reports 6.1% H1’23 revenue growth to AED1.22b (WAM 04/08/2023)
Burjeel Holdings’ H1 2023 net profit up 47% to AED225m (WAM 04/08/2023)
ADNOC Drilling announces net profit of $446m in H1 2023 (WAM 04/08/2023)
RAK Ceramics' Q2 profit drops as revenue falls (The National 04/08/2023)
ADNOC L&S reports 327% year-on-year increase in H1 2023 net profit (WAM 03/08/2023)
Americana Restaurants reports $144.8m net profit in H1 2023 (WAM 03/08/2023)
Group’s sales amounted to 55% in domestic markets, 45% in international exports: Emirates Steel (WAM 03/08/2023)
IHC revenues surge 30.8% to AED28.7b in H1 2023 (WAM 03/08/2023)
e& money launches prepaid card with cash rewards (WAM 03/08/2023)
Deyaar’s second-quarter profit surges 90% on higher revenue (The National 03/08/2023)
Dubai’s RTA eyes banks ahead of IPO: Report (Arabian Business 03/08/2023)
Agthia Group H1's net profit up 6.6% year-on-year to AED144m (WAM 02/08/2023)
CBI net profit increases by 44% to AED79m in the first half of 2023 (WAM 02/08/2023)
DAE announces financial results for six months ended June 30, 2023 (WAM 02/08/2023)
Ministry of Economy participates in IMF workshop on application of AML/CFT risk-based approach (WAM 02/08/2023)
TECOM group H1 2023 revenue surpasses AED1b (WAM 02/08/2023)
MENA startup ventures experience troubled quarter with 26% funding plunge in Q2 (Arabian Business 02/08/2023)
e& consolidated revenues rise 1.1% to AED26.6b in H1 2023 (WAM 01/08/2023)
Alpha Dhabi's H1'23 net profit soars to AED10.3b (WAM 01/08/2023)
MoF extends deadline for feedback on Corporate Tax Free Zone Public Consultation until 9 August (WAM 01/08/2023)
Emirates Steel Arkan maintains solid performance in H1'23 (WAM 01/08/2023)
DIFC’s H1 2023 performance strengthens Dubai’s position as global finance and innovation hub (WAM 01/08/2023)
Debt financing emerging as panacea as UAE startups ward off ‘painful down rounds’ by VCs, PEs (Arabian Business 01/08/2023)
Aldar Properties net profit rises by 52% to AED 1.3b in Q2 2023 (WAM 31/07/2023)
Federal Tax Authority stresses need for accurate emirate-specific VAT reporting in relation to e-Commerce (WAM 31/07/2023)
UAE Mergers & Acquisitions News
Al Ansari Financial Services secures approval to acquire controlling stake in leading exchange company (WAM 07/08/2023)
ADNOC to acquire 30% equity stake in Absheron gas field (WAM 04/08/2023)
EIH Ethmar International Holding acquires stake in Gewan Holding (WAM 03/08/2023)
Mubadala invests in US-based Aligned Data Centres (WAM 02/08/2023)
ADQ and IHC Capital to combine their shareholdings in Modon along with ADQ’s shareholding in ADNEC Group (WAM 02/08/2023)
UAE’s e& to acquire controlling stake in PPF Telecom for $2.36b (Arabian Business 02/08/2023)
UAE's e& offers to increase stake in Vodafone to 20% (Khaleej Times 01/08/2023)
Aldar expands its education portfolio across Abu Dhabi, Dubai, Bahrain (WAM 31/07/2023)
UAE bilateral trade news
Agthia and Brazilian ministerial delegation discuss bilateral collaborations (WAM 07/08/2023)
Masdar lists its debut $750m green bond on London Stock Exchange (The National 07/08/2023)
UAE meets 37.4% of Japan's crude oil needs in June (WAM 05/08/2023)
JETRO President looks forward to strengthening trade, investment relations with UAE (WAM 05/08/2023)
During her participation in UNSC meeting, Noura Al Kaabi discusses enhancing bilateral relations with State Minister for Foreign Affairs of Japan (WAM 05/08/2023)
UAE and Egyptian presidents discuss brotherly ties (WAM 05/08/2023)
CEPA with UAE is a special achievement, Indian Minister tells Parliament (WAM 05/08/2023)
Abdullah bin Zayed, Chinese counterpart review bilateral relations, strategic partnership (WAM 04/08/2023)
UAE calls for mobilising global action to tackle food insecurity (WAM 04/08/2023)
EDGE Group receives high-level Brazilian Marine Corps delegation (WAM 03/08/2023)
UAE Foreign Minister, Argentinian counterpart discuss fostering ties (WAM 03/08/2023)
UAE President receives an official invitation from Iran for state visit (Arabian Business 03/08/2023)
Oman and Etihad Rail Company, Jindal partner to establish sustainable logistics solution WAM 02/08/2023)
UAE, Republic of Korea discuss future projects during High-Level Consultations Committee on Nuclear Cooperation meeting WAM 02/08/2023)
UAE President arrives in Jordan at start of official visit (WAM 02/08/2023)
Khaled bin Mohamed bin Zayed receives ExxonMobil Chairman and CEO (WAM 01/08/2023)
FANR strengthens cooperation with Saudi Nuclear & Radiological Regulatory Commission (WAM 01/08/2023)
Mohammed bin Rashid: 'Egypt will remain largest and greatest cultural incubator in Arab world' (WAM 01/08/2023)
Abu Dhabi Agriculture and Food Safety Authority promotes scientific cooperation with South Korean research institutions (Abu Dhabi Media Office 01/08/2023)
Dubai Chamber of Commerce strengthens trade with Serbian Business Council's launch (WAM 31/07/2023)
Masdar explores developing 2GW clean energy in Malaysia amid Asia expansion (WAM 31/07/2023)
Bahrain’s King receives UAE President at his residence in Abu Dhabi (WAM 31/07/2023)
Leading up to COP28 in the UAE (30th November - 12th December 2023)
UK supports UAE, looks forward for a strong participation and engagement with UAE at COP28, UK Ambassador tells WAM (WAM 06/08/2023)
UAE aims to mobilize global tech and space sectors for climate action ahead of COP28 (WAM 05/08/2023)
‘Youth at COP28’ session addresses sustainability and climate action (WAM 02/08/2023)
Faith Pavilion at COP28 will unite everyone to tackle climate change head-on: Nahyan bin Mubarak (WAM 02/08/2023)
Thirteen higher education institutions join UCN to collaborate on COP28 youth-focused initiatives (WAM 02/08/2023)
UAE Press: The race to achieve net zero emissions just got faster (WAM 02/08/2023)
COP28 Presidency and UNFCCC sign Host Country Agreement (WAM 01/08/2023)
EAD supports ADNOC’s commitment to achieving carbon neutrality in Abu Dhabi (WAM 01/08/2023)
Environmental media: A key player in tackling climate change, raising awareness (WAM 31/07/2023)
COP28 will add to UAE's track record in achieving COP's intended results : Japan’s Institute of Energy Economics (WAM 31/07/2023)
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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
25 Best Abu Dhabi Blogs And Websites (Ranked 5th, 26th August 2023, Feedspot)
