UAE Weekly Business News 12/02/24
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UAE Weekly Business News issue 175 published 12th February 2024.
UAE FREE ZONE NEWS
DMCC-Qx Lab AI partnership to advance groundbreaking hybrid generative ai solutions for businesses (Government of Dubai Media Office 12/02/2024)
Dubai’s DIFC launches new initiative to boost succession planning, longevity of family businesses (Arabian Business 12/02/2024)
ADGM Academy Research Centre hosts ‘Quant for Quants’ Conference (WAM 09/02/2024)
DMCC sees 10% surge in US companies in 2023 (WAM 09/02/2024)
Abu Dhabi Catalyst Partners makes strategic investment in Ardian’s Secondaries Fund IX (Arabian Business 09/02/2024)
ADGM Joins International Forum of Independent Audit Regulators (WAM 08/02/2024)
Rafid launches two new branches in Hamriyah Free Zone (WAM 08/02/2024)
Sharjah Media City receives delegation from Republic of Korea (WAM 08/02/2024)
Bridgetower Capital, Deus X Capital launch new self-funded $250mn digital asset platform in Abu Dhabi (Arabian Business 08/02/2024)
UAE VISA NEWS (inc. employment, Emiratisation, training, women)
GPSSA issues circular regarding deducting debts from pension, end-of-service gratuity (WAM 12/02/2024)
UAE salary guide 2024: How much should you be earning? (The National 12/02/2024)
16 Asian countries discuss employing technology to implement innovative initiatives for regulating labour markets (WAM 11/02/2024)
‘Will I lose my gratuity if my company is sold to another business?' (The National 11/02/2024)
Abu Dhabi Dialogue addresses skill mobility between sending, receiving countries in line with future prospects of work (WAM 10/02/2024)
UAE, Saudi Arabia to see continued high net-worth migration on major visa, policy reforms (Arabian Business 08/02/2024)
Union for Human Rights Association officially registered in Abu Dhabi (WAM 07/02/2024)
MoFA eliminates two government procedures, rolls out digital attestation of digital birth, death certificates on partners’ online platforms (WAM 07/02/2024)
UAE schools launch graduate search to hit Emiratisation goals (The National 07/02/2024)
FAHR launches General Framework for Employment Patterns and Flexible Work Types in Federal Government (WAM 06/02/2024)
MoHRE takes action against 50 companies, 5 social media accounts for illegal activities (WAM 06/02/2024)
My Dubai Salary: ‘I earn millions a year as an eco-entrepreneur’ (The National 06/02/2024)
UAE introduces flexible work guidelines (Arabian Business 06/02/2024)
UAE clamps down on illegal recruitment activity, issues $272,000 fine warning (Arabian Business 06/02/2024)
UAE BUSINESS AND ECONOMY NEWS
DFF report spotlights 10 megatrends shaping world in 2024 at World Governments Summit (WAM 12/02/2024)
IMF Managing Director forecasts higher economic growth for Arab region in 2024 (WAM 12/02/2024)
WGS a crucial platform for discussing global economic, financial developments (WAM 12/02/2024)
UAE Press: World Governments Summit has a role in shaping the world (WAM 12/02/2024)
WGS supports shared vision for global economic, trade exchange (WAM 12/02/2024)
Emirates NBD reveals criteria of 1st phase of Dubai International Growth Initiative (Government of Dubai Media Office 12/02/2024)
Rabdan Academy partners with Middle East Institute to advance research and development in defence and security (Abu Dhabi Media Office 12/02/2024)
GCC economic expansion expected at around 3% in 2024 (Khaleej Times 12/02/2024)
Etihad Airways carries 1.4m passengers in January (Khaleej Times 12/02/2024)
Dubai’s luxury real estate gold rush lures global elite (Arabian Business 12/02/2024)
Dubai property market sees 57% deals surge in 2023 (Arabian Business 12/02/2024)
Dubai Customs sets new record with 17.15m international visitors in 2023 (WAM 11/02/2024)
Mohammed bin Rashid meets with Founder and Executive Chairman of WEF (WAM 11/02/2024)
WGS highlights importance of empowering scientists (WAM 11/02/2024)
DEWA stands out as a global benchmark in key performance indicators (WAM 11/02/2024)
Mohammed bin Rashid meets with IMF Managing Director (WAM 11/02/2024)
Mohammed bin Rashid, Hamdan bin Mohammed witness agreement to launch aerial taxis in Dubai by 2026 (WAM 11/02/2024)
Maktoum bin Mohammed: Rapid global changes require designing fiscal policies that meet needs of national economies (WAM 11/02/2024)
UAE President, Mohammed bin Rashid welcome UAE guests attending WGS 2024 (WAM 11/02/2024)
WGS 2024 to host Industry and Advanced Technology Forum to drive sustainable industrialisation (WAM 10/02/2024)
ZHO, Lotus Holistic Group partner to launch scientific journal on autism research (WAM 10/02/2024)
Zayed International Airport officially named as Abu Dhabi reports 23m air passengers last year (Arabian Business 10/02/2024)
National ICV Programme supports sustainable economic growth (WAM 09/02/2024)
Dubai International Chamber strengthens efforts to support global expansion of UAE entrepreneurs(WAM 09/02/2024)
Dubai Civil Defence launches the world's first mobile floating fire station (WAM 09/02/2024)
Abu Dhabi's February 2024 event calendar: A tapestry of global interaction and innovation (WAM 09/02/2024)
M42 explores gut health solutions through new Microbiome Wellness Programme (WAM 09/02/2024)
Dubai records over AED9.8b in weeklong real estate transactions (WAM 09/02/2024)
Emirates Mars Mission publishes observations across full Martian year (WAM 09/02/2024)
DoH designates Sheikh Khalifa Medical City as Centre of Excellence for Paediatric Cardiac Surgery (WAM 09/02/2024)
National systems foil attempted cyberattacks by terrorist groups: UAE Cyber Security Council (WAM 09/02/2024)
Dragon Oil to drill first well within Block 19 in December 2024 (WAM 08/02/2024)
L3Harris-Calidus aerospace partnership expanded to grow business offerings in UAE, MENA region WAM 08/02/2024)
National ICV Programme heralds next phase in UAE’s industrial development story with new identity (WAM 08/02/2024)
Dubai Chamber of Commerce holds discussions to accelerate growth in fruit and vegetable sector (WAM 08/02/2024)
MoEI reveals details of Federal Energy Management Regulation in industrial facilities (WAM 08/02/2024)
Technological transformation is key driver for future of healthcare at World Governments Summit (WAM 08/02/2024)
AEEDC Dubai 2024 concludes with AED19b worth of trade deals (WAM 08/02/2024)
Museum of the Future: From an idea at WGS to Dubai's iconic landmark (WAM 08/02/2024)
Tadweer Group launches new corporate identity and renewed strategy (Abu Dhabi Media Office 08/02/2024)
Dubai apartment rents up 15% last year, sales prices climbed 10% as over 27,400 units enter market (Arabian Business 08/02/2024)
Dubai fines 30 real estate companies $13,600 each over illegal advertising (Arabian Business 08/02/2024)
UAE fashion scene to transform as Cloudset set to launch dynamic ownership, rental options for top brands (Arabian Business 08/02/2024)
Dubai rivals Paris, New York as couples seek Instagram-worthy weddings, proposals (Arabian Business 08/02/2024)
Dubai 100: Meet the 100 people you need to know in the emirate in 2024 (Arabian Business 08/02/2024)
Aldar Properties awarded 49 development contracts worth AED22b in 2023 (WAM 07/02/2024)
Dubai Supreme Council of Energy adopts strategic initiatives to support infrastructure (WAM 07/02/2024)
Gulf Biopolymers Industries to produce biodegradable PLA in KEZAD (WAM 07/02/2024)
(WAM 07/02/2024)
Dubai Pavilion on Alibaba.com amasses 8.2 million impressions, 60,000 clicks on UAE products (WAM 07/02/2024)
World Governments Summit announces details of 2024 Agenda (WAM 07/02/2024)
Ministry of Economy launches its new intellectual property system (WAM 07/02/2024)
DLD marks strongest performance ever with 1.6m transactions, 166,000 real estate deals worth AED634b in 2023 (WAM 07/02/2024)
UAE’s first integrated battery recycling plant unveiled at Dubai Industrial City, with AED216m investment by Dubatt (WAM 07/02/2024)
World Governments Summit focuses on major future transformations, international cooperation (WAM 07/02/2024)
Innovation is fundamental pillar for enhancing energy efficiency, sustainability (WAM 07/02/2024)
Abu Dhabi Municipality launches campaign for cleaner construction sites (WAM 07/02/2024)
Mohammed bin Rashid meets with local dignitaries, senior officials, heads of government entities, businessmen at Al Shindagha Majlis (WAM 07/02/2024)
Aldar awards development project contracts worth AED22b across the emirate in 2023 (WAM 07/02/2024)
UAE introduces programme to bolster IP rights and spur economic growth (The National 07/02/2024)
Dubai's real estate transactions surged to 1.6m last year (The National 07/02/2024)
Emaar’s Dubai Square to be world’s “most advanced, AI designed” project, says Alabbar (Arabian Business 07/02/2024)
Ministry of Finance launches expanded 'Digital Procurement Platform' catalogue (WAM 06/02/2024)
World Defence Show 2024 sees strong presence of Emirati companies (WAM 06/02/2024)
53rd Watch & Jewellery Middle East Show concludes, attracts over 75,000 visitors (WAM 06/02/2024)
ADNOC Drilling looks ahead to 2024 with confidence, with plans for further fleet expansion (WAM 06/02/2024)
CBUAE revokes licence and registration of 'Smart and Secure Insurance Agent' (WAM 06/02/2024)
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO (WAM 06/02/2024)
RTA adopts innovative Customer Experience Strategy 2024-2028 (WAM 06/02/2024)
ATM 2024 highlights preferences of GCC outbound travellers (WAM 06/02/2024)
Medlab Middle East showcases latest global laboratory technologies (WAM 06/02/2024)
Dubai Health Authority showcases efforts to regulate, develop dentistry at AEEDC 2024 (WAM 06/02/2024)
Alef Education collaborates with MetaMetrics® to launch Arabic Reading Scale in MENA region (WAM 06/02/2024)
International Association of Amusement Parks and Attractions Middle East Trade Summit 2024 assembles industry experts in Abu Dhabi (Abu Dhabi Media Office 06/02/2024)
Aldar to invest $1.36b to develop assets in Abu Dhabi (The National 06/02/2024)
(The National 06/02/2024)
Dubai flights: Emirates to return to Adelaide in October (Khaleej Times 06/02/2024)
Microsoft, Dubai’s DET partner to boost innovation, goals under D33 economic agenda (Arabian Business 06/02/2024)
Over 80% of UAE residents want companies to shift customer service to WhatsApp (Arabian Business 06/02/2024)
DEWA reports 59% increase in usage of Green Charger in 2023 (Arabian Business 06/02/2024)
RTA plans to embrace cloud computing with new AWS agreement (Arabian Business 06/02/2024)
UAE Football Association launches new brand identity (WAM 05/02/2024)
Sovereign Wealth Fund Institute gathers $2t asset managers in Dubai (Arabian Business 05/02/2024)
UAE FINANCIAL NEWS
Abu Dhabi Exports Office, Mashreq, ADCB to provide up to US$100m in financing to BGN (WAM 12/02/2024)
Empower records the highest-ever revenue, reaching AED3b (WAM 12/02/2024)
Investcorp Capital posts Q4 profit dip after Abu Dhabi IPO (The National 12/02/2024)
Adnoc Gas reports 24% jump in fourth quarter profit (The National 12/02/2024)
UAE exchange houses announce increased fees for remittances by 15% (Khaleej Times 12/02/2024)
UAE-Kuwait agreement on avoiding double taxation enhances economic integration (WAM 11/02/2024)
Arab countries’ public spending hit $958b in 2022: AMF (Arabian Business 11/02/2024)
MoF says OECD’s rating of Free Zone Corporate Tax regime will enhance UAE’s global competitiveness (WAM 10/02/2024)
Emirates Stallions Group announces record 316% growth in net profit to AED687m for 2023 (WAM 10/02/2024)
Aldar reports AED4.4b in 2023 net profit, up 40% YoY (WAM 09/02/2024)
Dubai's non-oil economic activity remained robust in January (The National 09/02/2024)
Aramex's fourth-quarter profit more than doubles (The National 09/02/2024)
Salik shareholders reap benefits, share concerns (Khaleej Times 09/02/2024)
UAE's real GDP to grow by 5.3% in 2024: S&P Global (WAM 08/02/2024)
UAB delivers 65% growth in FY 2023 net profits (WAM 08/02/2024)
Dewa reports 15% increase in fourth-quarter profit (The National 08/02/2024)
Dana Gas profit fell in 2023 on lower oil and gas prices (The National 08/02/2024)
Emaar’s 2023 profit jumps 70% on higher property sales (The National 08/02/2024)
Presight reports FY2023 net profit of AED570.6m (WAM 07/02/2024)
DAE logs net profit of $351m in 2023 (WAM 07/02/2024)
Botim becomes first Fintech Platform to offer CBUAE’s Aani Solution Via Al Etihad Payments (WAM 07/02/2024)
BHM Capital increases its client base adding 11,000 new accounts (WAM 07/02/2024)
ADNOC Distribution reports record $1b EBITDA in 2023 (WAM 07/02/2024)
ADNEC Group’s contribution to national economy in 2023 reaches AED7.37b (WAM 07/02/2024)
Dubai achieves best ever annual tourism performance with international tourists growing to 17.1m in 2023 (WAM 07/02/2024)
Multiply Group’s 2023 revenue climbs 15% on new acquisitions (The National 07/02/2024)
FTA launches 2nd phase of corporate tax awareness campaign (WAM 06/02/2024)
IHC reports AED32,748m in preliminary net profit for 2023 (WAM 06/02/2024)
Dubai's non-oil foreign trade hits $540b a year before schedule (The National 06/02/2024)
Can GCC markets sustain the IPO momentum in 2024? (The National 06/02/2024)
LuLu Group IPO: UAE retail giant plans dual $1bn listing on Saudi, Abu Dhabi bourses (Arabian Business 06/02/2024)
UAE leader in sustainable finance, economic growth: CEO for Barclays Private Bank (WAM 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)
UAE MERGER AND AQUISITION NEWS
Mena M&A activity in 2023 remains resilient (Khaleej Times 12/02/2024)
Maqta Gateway acquires majority stake in Dubai Technologies (WAM 06/02/2024)
Ghitha Holding PJSC announces strategic expansion with acquisition of MNG Airlines Shareholding (WAM 06/02/2024)
UAE BILATERAL TRADE NEWS
ADU, Beirut Arab University to advance innovation and research in health sciences (WAM 12/02/2024)
Egypt keen to develop economic, investment cooperation with UAE (WAM 11/02/2024)
UAE and Iraq enjoy strong fraternal ties: Nahyan bin Mubarak (WAM 09/02/2024)
EDGE to collaborate with Turkish Aerospace Industries on advanced airborne-domain projects (WAM 08/02/2024)
Dubai Customs, UK’s counterpart unite in dynamic cooperation (WAM 08/02/2024)
UAE’s Comprehensive Economic Partnership Agreement with Cambodia enters into force (WAM 08/02/2024)
UAE Foreign Minister, Indonesian Vice President discuss relations (WAM 06/02/2024)
UK-GCC trade and investment to grow in 2024: Report (Arabian Business 06/02/2024)
UAE, Russian Presidents discuss bilateral relations (WAM 05/02/2024)
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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
