UAE Weekly Business News 12/08/2024
Welcome to Gateway Group's weekly collation of trade and investment headlines shaping the Abu Dhabi and Dubai economies.
Stay up to date with UAE Business
UAE Weekly Business News is the quick and easy way to stay informed about crucial UAE business news and laws, conveniently in one place.
How to use this resource
Scan the headlines and click the ones you want to read in full.
Every Monday
UAE Weekly Business News is published every Monday. Subscribe to our blog to receive it in your inbox automatically. It's FREE.
UAE Weekly Business News: Issue 201 published 12August 2024.
UAE FREE ZONE NEWS
DMCC accounts for 15% of all FDI to Dubai (WAM 12/08/2024)
DMCC H1 2024: Business Expansion and FDI Growth (Government of Dubai Media Office 12/08/2024)
DIFC, Ripple to accelerate adoption of Blockchain technology (Government of Dubai Media Office 08/08/2024)
Technomak announces expansion plan in Hamriyah Free Zone (WAM 06/08/2024)
Nuvama Private launches operations at new DIFC-based office (WAM 06/08/2024)
India’s Nuvama Private launches wealth management base in Dubai (Arabian Business 06/08/2024)
UAE VISA NEWS (inc. employment, Emiratisation, human resources, training and women)
'Do I need to work extra days to compensate for the sick leave?' (The National 12/08/2024)
Up to 90-day visa extension in UAE: How to extend entry permit; fees, types explained (Khaleej Times 12/08/2024)
UAE residence visa: Where to go for medical fitness test - all you need to know (Khaleej Times 12/08/2024)
AED150,000 fine, absconding cases: Why these illegal UAE expats stay on without valid visas (Khaleej Times 10/08/2024)
6-hour work day, free childcare: Some UAE firms introduce more ‘parent-friendly’ policies (Khaleej Times 10/08/2024)
UAE jobs: Ras Al Khaimah hospitality sector set for boom with over 25,000 employees by 2030 (Arabian Business 11/08/2024)
UAE leave explained: 9 types of time off for employees (Arabian Business 08/08/2024)
DGHR announces pilot to reduce summer working hours of some government entities (Government of Dubai Media Office 07/08/2024)
UAE visa amnesty: Expats warned of fake 'registration websites' for illegal residents (Khaleej Times 06/08/2024)
Don't look for jobs on tourist visa, Pakistanis told (Khaleej Times 06/08/2024)
Middle East workers want pay rises over environment policies at work: PwC (Arabian Business 06/08/2024)
DGHR collaborates with MBRF and UNDP to make employees ‘future-ready’ (Government of Dubai Media Office 05/08/2024)
UAE BUSINESS NEWS
Dubai aims to attract more Chinese investment and EV firms (The National 12/08/2024)
UAE’s first AI real estate consultant closes $30m worth of property deals within weeks of launch (Arabian Business 12/08/2024)
361 million riders used Dubai's public transport, shared mobility, and taxis in H1 2024 as daily ridership hits 1.98 million (WAM 11/08/2024)
Dubai Police Air Wing Conducts 304 Missions in H1 of 2024 (Government of Dubai Media Office 11/08/2024)
Dubai ranked among few global cities with accelerating property market growth (Khaleej Times 11/08/2024)
Abu Dhabi real estate: Off-plan vs ready property sales, Q2 rental market review (Arabian Business 11/08/2024)
Dubai to host UAE-Russia Investment Forum 2024 (Arabian Business 11/08/2024)
Dubai real estate sector recorded $4.1b of transactions last week (Arabian Business 11/08/2024)
Abu Dhabi, Dubai ranked top liveable cities in Middle East, Africa (WAM 10/08/2024)
EAD launches e-linking system to monitor stack emissions in Abu Dhabi's industrial, energy, oil, gas sectors (WAM 09/08/2024)
NMDC Energy recognised as Industry 4.0 Digital Leader by MoIAT (WAM 09/08/2024)
NYU Abu Dhabi develops new membrane technology for more efficient water purification (WAM 09/08/2024)
Etihad boosts network to Singapore, Thailand (WAM 09/08/2024)
Abu Dhabi to host the 2025 International Union for Health Promotion and Education World Conference (WAM 09/08/2024)
UAE, a global hub for cultivating disruptive technology: AI experts (WAM 09/08/2024)
Dubai’s world-class summer experiences focus on maximising value (WAM 08/08/2024)
Inventory Management Policy unifies procedures in Federal Government (WAM 08/08/2024)
Etihad Airways resumes flights to Nairobi (WAM 08/08/2024)
Cleveland Clinic Abu Dhabi collaborates with NYU Abu Dhabi to leverage 3D printing technology on a patient with rare cardiovascular abnormality (WAM 08/08/2024)
Traffic Safety Technical Committee launches Work Accelerators plan to enhance traffic safety in Abu Dhabi (Abu Dhabi Media Office 08/08/2024)
UAE suspends 32 gold refineries in anti-money laundering crackdown (The National 08/08/2024)
Etihad’s H1 profit surges 48% to AED851m (Khaleej Times 08/08/2024)
Dubai real estate: Off-plan property market surges to 60% of total transactions in July 2024 (Arabian Business 08/08/2024)
Travel insurance demand surges 182% in UAE as travellers seek safeguards (Arabian Business 08/08/2024)
Dubai Future Academy launches 'FEEL: Disruptive Futures Programme' (WAM 07/08/2024)
flydubai touches down in Basel (Government of Dubai Media Office 07/08/2024)
Department of Health – Abu Dhabi publishes Healthcare Workforce Bioethics Guidelines (Abu Dhabi Media Office 07/08/2024)
Abu Dhabi Department of Energy launches regulatory policy for low-carbon water certificates (Abu Dhabi Media Office 07/08/2024)
UAE residents 'brace for extra costs' with new EV charging fees (Khaleej Times 07/08/2024)
Record 44.9 million passengers passed through DXB so far this year (Arabian Business 07/08/2024)
Inside Tulåh – UAE company’s first $100m clinical wellness resort launching this December (Arabian Business 07/08/2024)
Tenancy Policies elevate financial business environment in UAE: MoF (WAM 06/08/2024)
SEHA introduces advanced X-ray kit to set safety standards at Abu Dhabi blood banks (WAM 06/08/2024)
ADNOC signs long-term Heads of Agreement with Japan's Osaka Gas for Ruwais LNG project (WAM 06/08/2024)
Guided by Mohamed bin Zayed, UAE continues to strengthen its performance in vital economic sectors: Mohammed bin Rashid (WAM 06/08/2024)
Department of Culture and Tourism - Abu Dhabi and Miral to host Luxury Travel Fair LOOP CEE in the Middle East for the first time (Abu Dhabi Media Office 06/08/2024)
Abu Dhabi’s IHC forms Rorix Holdings to facilitate global trade (Arabian Business 06/08/2024)
ADJD processes over half million electronic requests in H1 2024 (WAM 05/08/2024)
GCC markets accounted for 53.9% of Dubai Chamber of Commerce members' (Government of Dubai Media Office 05/08/2024)
UAE-developed LLM Jais 70B aims to democratise access to AI (The National 05/08/2024)
How UAE start-up Nomadic uses tech to simplify business travel (The National 05/08/2024)
UAE business confidence remains robust, but growth eases (Khaleej Times 05/08/2024)
Emirates cancels Dubai to Dhaka flights amid Bangladesh unrest (Arabian Business 05/08/2024)
UAE FINANCIAL NEWS
ADNOC Gas announces record Q2 net income of $1.19b (WAM 12/08/2024)
Parkin delivers Q2 revenue growth of 12%, while EBITDA increases 42% in the quarter (Government of Dubai Media Office 12/08/2024)
UAE Government amends provisions of law on Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations (WAM 11/08/2024)
Dubai Investments Q2 2024 Profit increases to AED289.24m (Government of Dubai Media Office 10/08/2024)
Union Coop reports financial performance for H1 2024 (WAM 09/08/2024)
Al Ansari's net profit totals AED205m in H1 2024 (WAM 09/08/2024)
ADNIC achieves net profit of AED205.2m for H1-24 (WAM 09/08/2024)
Tabreed’s financial results for H1 2024 show company reaping the rewards of investment (WAM 09/08/2024)
ICAEW partners with UAE Banks Federation to help firms navigate booming digital assets landscape (Arabian Business 09/08/2024)
UAE national banks provided AED25.7b in credit facilities to business, industrial sectors in 5 months (WAM 08/08/2024)
Aramex delivers net profit of AED49.5m, up by 15% in H1 2024 (WAM 08/08/2024)
ADNOC Drilling expects $1.3b of net profit in 2024 (WAM 08/08/2024)
Burjeel's first-half revenues reach AED2.4b, up 10.4% (WAM 08/08/2024)
RAK Properties revenues rise by 19%, reach AED610m in H1 2024 (WAM 08/08/2024)
Dana Gas reports a 3% increase in net profit to AED124m in Q2 2024 (WAM 08/08/2024)
Emaar Properties' revenues reach AED14.4b in H1-24 (Government of Dubai Media Office 08/08/2024)
DEWA announces record breaking First Half 2024 results (Government of Dubai Media Office 08/08/2024)
Spinneys posts record 9.9% revenue growth in H1 2024, announces first post-IPO dividend (Arabian Business 08/08/2024)
Kazakhstan Stock Exchange and KACC ink deal with ADX to join Tabadul Hub (Arabian Business 08/08/2024)
ADNOC L&S announces 31% increase in net profit in H1 2024 (WAM 07/08/2024)
PCFC reports 33.47% increase in net profit for 2023, reaching AED654m (Government of Dubai Media Office 07/08/2024)
Agthia reports 31.8% jump in H1 2024 net profit to AED190m (Arabian Business 07/08/2024)
Empower reports 10.3% revenue growth in H1 2024 (WAM 06/08/2024)
e& and du paid AED3.54b in federal royalty to UAE government in H1 (WAM 06/08/2024)
UAE Central Bank gold reserves reach $5.6b in May 2024 (Arabian Business 06/08/2024)
UAE cheque clearances hit AED544.4b in first five months of 2024 (Arabian Business 06/08/2024)
UAEFTS process AED7.9t in transactions in first five months of 2024 (WAM 05/08/2024)
UAE banking sector’s net international reserves up 8% in first five months to AED1.2t (WAM 05/08/2024)
Presight reports 17.4% revenue increase to AED603.5m in H1 2024 (WAM 05/08/2024)
ADNOC Drilling reports $570m net profit in H1-24 (WAM 05/08/2024)
UAE M&A NEWS
ADQ to acquire minority stake in Sotheby’s (WAM 09/08/2024)
UAE BILATERAL TRADE NEWS
India-GCC relations are multi-faceted, says Minister (WAM 11/08/2024)
Emirati company, Hisense Egypt sign contract to manufacture electrical appliances in SCZone (WAM 08/08/2024)
Dubai Police, Radio Holland Sign MoU to Advance 'Haddad' Project (Government of Dubai Media Office 08/08/2024)
Dubai International Chamber supports UAE-based Meerana’s collaboration with Vietnamese technology company FPT (Government of Dubai Media Office 08/08/2024)
'Don't fight, maintain good behaviour': Nepal embassy in UAE issues advisory (Khaleej Times 08/08/2024)
UAE and Colombia target $1b trade relationship (Arabian Business 08/08/2024)
Ministry of Energy and Infrastructure, Beijing Research Institute of Uranium Geology discuss cooperation (WAM 06/08/2024)
If you found this blog post informative and helpful, please show your support by clicking the ❤️ at the bottom of the page. Thank you.
Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi and Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East
