UAE Weekly Business News 16/12/2024

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UAE Weekly Business News: Issue 219 published 23 December 2024.

UAE FREE ZONE NEWS

ADQ, Korea's Aqua Development to launch pilot shrimp farming facility in KEZAD (WAM 19/12/2024)

RAKEZ strengthens UK economic ties through successful London roadshow (WAM 19/12/2024)

Elite Group Holding signs agreement to develop AED100m integrated automotive hub (Government of Dubai Media Office 19/12/2024)

ADGM to launch Mobile App for All-In-One business, lifestyle experience (WAM 12/12/2024)

Hamdan bin Mohammed launches Middle East’s first-of-its-kind drone delivery system at Dubai Silicon Oasis (WAM 17/12/2024)

Ras Al Khaimah Digital Assets Oasis announces strategic partnership with India Blockchain Alliance (Arabian Business 17/12/2024)

UAE VISA NEWS (inc. employment, Emiratisation, human resources, training and women)

UAE health sector expands with comprehensive insurance for workers (WAM 23/12/2024)

Dummy hotel booking, flight tickets: Why some UAE visit visas could be getting rejected (Khaleej Times 23/12/2024)

UAE, Saudi banks push for enhanced employee experience in GCC (Arabain Business 23/12/2024)

Emirati women set historic milestones in 2024 (WAM 22/12/2024)

UAE labour law: Key things to check in your employment contract after receiving job offer (Khaleej Times 22/12/2024)

Dragon Mart Celebrates 20th Anniversary (Government of Dubai Media Office 21/12/2024)

UAE: Want to be a cabin crew member? How to get required licence for the job (Khaleej Times 21/12/2024)

New Year holiday announced for federal government  (WAM 20/12/2024)

MoHRE declares 1 January 2025 as paid holiday for private sector employees (WAM 20/12/2024)

Dubai’s economic pull creates ‘employer’s market’ as talent floods to city (Arabian Business 20/12/2024)

UAE prioritises gender balance, women's empowerment (WAM 19/12/2024)

Abu Dhabi authority fines Aarna Capital AED1.85m for violating anti-money laundering laws (Khaleej Times 19/12/2024)

Abu Dhabi elevates status as global financial centre (Khaleej Times 19/12/2024)

50 best places to work in the Middle East (Arabian Business 19/12/2024)

UAE salaries to decrease as expat numbers surge (Arabian Business 18/12/2024)

National Experts Programme equips 86 Emiratis in 5 years

ILO praises UAE's Labour Market legislation, policies (WAM 17/12/2024)

MoHRE launches competitively priced health insurance package for private sector employees, domestic workers (WAM 16/12/2024)

UAE launches major health insurance package for private sector from $87 per year (Arabian Business 16/12/2024)

UAE BUSINESS NEWS

EAD saves 364 million plastic bags since 2022 ban (WAM 23/12/2024)

Burjeel Medical City launches Balance Lab to enhance ENT services (WAM 23/12/2024)

Drydocks World unveils major expansion to lead global renewables, marine projects (WAM 23/12/2024)

Ministry of Energy and Infrastructure, Pact Carbon to promote green mobility (WAM 23/12/2024)

Al Seer Marine expands fleet with delivery of two modern MR tankers (WAM 23/12/2024)

ADNOC Drilling’s two brand new jack-ups rigs arrive in UAE (WAM 23/12/2024)

UAE accedes to Antarctic Treaty System to accelerate climate action (WAM 23/12/2024)

Dubai Electronic Security Center and World Bank Group to host first Global Government Cloud Forum in Dubai (Government of Dubai Media Office 23/12/2024)

PCFC launches Seamless Inspections initiative revolutionising customs services (Government of Dubai Media Office 23/12/2024)

Miral launches Sustainability Strategy to advance responsible leisure, entertainment and tourism in Abu Dhabi (Abu Dhabi Media Office 23/12/2024)

GCC airport retail sector forecasted to grow 9.5% annually through 2032 (Arabian Business 23/12/2024)

GCC urban populations to surge 30% by 2030 (Arabian Business 23/12/2024)

Dubai real estate set for strategic growth through 2025 (Arabian Business 23/12/2024)

Kate Spade New York opens new flagship store in Dubai Mall (Arabian Business 23/12/2024)

RTA opens key bridge connecting Hessa Street to Al Khail Road (WAM 22/12/2024)

DEWA SAT-1 sends 2,690 MB of data related to its work to ground station (WAM 22/12/2024)

IDEX and NAVDEX 2025 launch on February 17 (WAM 22/12/2024)

UAE’s cultural achievements in 2024 highlight creativity, innovation (WAM 21/12/2024)

Abu Dhabi Petroleum Products Trading Regulatory Committee issues inaugural trading permit in emirate (WAM 20/12/2024)

EAD executes region’s first freshwater oyster pearl aquaculture project (WAM 20/12/2024)

Air Arabia starts flights to Vienna (WAM 20/12/2024)

British Airways suspends summer flights between Abu Dhabi and Heathrow (Khaleej Times 20/12/2024)

Etihad Cargo expands freighter network with Paris Charles de Gaulle from January 2025 (Arabian Business 20/12/2024)

Wizz Air Abu Dhabi re-routes Bucharest flights to Băneasa Airport from March 2025 (Arabian Business 20/12/2024)

MENA online gifting market sees 62% jump in festive season sales (Arabian Business 20/12/2024)

UAEV announces adoption of recently introduced EV tariffs effective January 2025 (WAM 19/12/2024)

ADSCC successfully performs First CAR-T Cell Therapy to treat Lupus in Middle East (WAM 19/12/2024)

DHA highlights AI drive, diagnostic advancements in healthcare (WAM 19/12/2024)

UCI President announces plans for new Abu Dhabi branch (WAM 19/12/2024)

ENOC Group, Drive Terra announce strategic partnership to revolutionise e-bike infrastructure in UAE (WAM 19/12/2024)

DCT Abu Dhabi, Trip.com Group partner to support tourism (WAM 19/12/2024)

Abu Dhabi's Department of Health expands 'Sanadkom' initiative to all residents of emirate (WAM 19/12/2024)

Hamdan bin Mohammed issues directives for organising Dubai AI Week in April (WAM 19/12/2024)

Dubai’s night-swimming beaches attract 1.5 million visitors since opening in 2023 (WAM 19/12/2024)

Dubai Department of Economy and Tourism Signs Strategic Partnership with IHG Hotels & Resorts to Further Enhance Visitor Experience  (Government of Dubai Media Office 19/12/2024)

RTA awards Dubai Metro Blue Line contract to Turkish and Chinese consortium for AED20.5b  (Government of Dubai Media Office 19/12/2024)

UAE airport retail sales likely to reach $161.6b by 2028 (Khaleej Times 19/12/2024)

UAE: Emirates cadets go through over 100 weeks of training; demand for pilots increasing, says top official (Khaleej Times 19/12/2024)

UAE outbound travel trends for festive season revealed (Arabian Business 19/12/2024)

ShopDoc plans $50m Dubai-Kerala healthcare corridor to tap medical tourism (Arabian Business 19/12/2024)

UAE residents show increased interest in pre-owned EVs (Arabian Business 19/12/2024)

DEWA’s Green Hydrogen project reduces over 40 tonnes of CO2 emissions in transport sector (WAM 18/12/2024)

EDGE, Indra formalise joint venture 'PULSE' to design, manufacture radars in Abu Dhabi (WAM 18/12/2024)

Dubai unveils 2025 Retail Calendar (WAM 18/12/2024)

British Council UAE signs new IELTS partnership with Sorbonne University Abu Dhabi (WAM 18/12/2024)

RTA Rolls Out App-Based Bus Pooling Initiative (Government of Dubai Media Office 18/12/2024)

Dubai-Riyadh route among world's top 10 busiest in 2024, with 4.3 million seats (Khaleej Times 18/12/2024)

India-based FAAD Capital expands global footprint with Dubai launch (Arabian Business 18/12/2024)

Dubai announces new media laws (Arabian Business 18/12/2024)

France, Italy top visa destinations for UAE residents, data shows (Arabian Business 18/12/2024)

Kanoo Energy, India’s Adage Automation launch new venture to advance UAE’s net-zero emissions goals (Arabian Business 18/12/2024)

Abu Dhabi Mobility launches handbook on ESG maturity in maritime sector (WAM 17/12/2024)

DEWA generates 45.14TWh of power in nine months (WAM 17/12/2024)

ADNOC Drilling, SLB, Patterson-UTI close Turnwell joint venture (WAM 17/12/2024)

Air Arabia adds Sochi to its growing network in Russia (WAM 17/12/2024)

DMCC Crypto Centre Metaverse launched to drive Web3 engagement (WAM 17/12/2024)

UAE ranks first globally in 223 competitiveness indicators (WAM 17/12/2024)

Green tourism in UAE: Nature’s beauty embracing sustainability (WAM 17/12/2024)

Dubai Courts Director Inaugurates 'Smart Room,' a Key Pillar in Digital Transformation of Judicial Services (Government of Dubai Media Office 17/12/2024)

UAE tech leaders anticipate stronger demand for AI and cloud capabilities over next 12 months (Khaleej Times 17/12/2024)

UAE announces 'unified numbers' project to maximise data use in policy-making (Khaleej Times 17/12/2024)

UAE government awards $5.1 billion, 17-year contract to Space42 (Arabian Business 17/12/2024)

Dubai’s surging real estate prices hit F&B market, entry, expansion strategies set to shift in response (Arabian Business 17/12/2024)

Dubai Customs handles over 1.23 million bags, 281,775 passengers on board 187 cruise ships between Jan -Nov 2024 (WAM 16/12/2024)

Etihad Airways opens new gateway to Kenya with launch of Nairobi flights (WAM 16/12/2024)

World’s rarest coffees to be auctioned for first time at World of Coffee Dubai 2025 (WAM 16/12/2024)

flydubai unveils new Business Class Lounge at Dubai International (WAM 16/12/2024)

FTA launches world’s first tax refund system for e-commerce retail purchases for tourists (WAM 16/12/2024)

ADNOC signs 15-year, 0.6MPTA Sales & Purchase Agreement with EnBW for Ruwais LNG project (WAM 16/12/2024)

RTA, Dubai Police announce evening peak truck ban on Emirates Road towards Sharjah effective 1 Jan 2025 (WAM 16/12/2024)

UAE space sector goes from desert to Mars as investments pass $10.9b (Arabian Business 16/12/2024)

ADNOC’s XRG forms Arcius Energy, a joint venture with BP (Arabian Business 16/12/2024)

Expedia highlights surge in interest for UAE staycations to end 2024 (Arabian Business 16/12/2024)

UAE FINANCE AND ECONOMY NEWS

FTA renews its calls for Resident Juridical Persons with Licences issued in December to register for Corporate Tax (WAM 23/12/2024)

Islamic finance in UAE: Rapid growth, leadership in sustainability (WAM 21/12/2024)

AD Ports Group secures refinancing, upsizing of Revolving Credit Facility to $2.125b (WAM 20/12/2024)

UAE indirect taxes yield AED10-11b annually (WAM 20/12/2024)

Phoenix Group appoints Munaf Ali as CEO, eyes NASDAQ listing in 2025 (Arabian Business 20/12/2024)

GCC debt capital markets to hit $1t (Arabian Business 20/12/2024)

450,000 businesses registered for Corporate Tax (WAM 19/12/2024)

DP World issues $100m Blue Bond (WAM 19/12/2024)

CBUAE's gold reserves surpass AED23b by end of Q3/24 (WAM 18/12/2024)

Nasdaq Dubai welcomes $500m sustainability-linked loan financing bond by Emirates NBD (WAM 18/12/2024)

Dubai Aerospace Enterprise receives cash proceeds of $201m from settlement of certain claims (WAM 18/12/2024)

CBUAE lowers interest rates by 25 basis points (WAM 18/12/2024)

Abu Dhabi Investment Office signs an agreement with Export-Import Bank (Abu Dhabi Investment Office 18/12/2024)

UAE economy to be ‘star performer’ in the region — Swiss bank (Khaleej Times 18/12/2024)

UAE economy set for 4.1% growth in 2025 (Arabian Business 18/12/2024)

UAE corporate tax hike to fuel influx of multinational companies flocking to freezones (Arabian Business 18/12/2024)

Mastercard Economics Institute predicts 5% GDP growth for the UAE (Arabian Business 18/12/2024)

Hex Trust launches fiat on/off-ramp services in Dubai (Arabian Business 18/12/2024)

UAE economy expected to stay resilient next year (Khaleej Times 17/12/2024)

Gross banks’ assets exceed AED4.4t by end of September (WAM 16/12/2024)

UAE payments revenue pool projected to reach $27.3b by 2028 (WAM 16/12/2024)

Middle East has best growth potential for private capital in 2025, say global asset managers (Arabian Business 16/12/2024)

UAE M&A NEWS

Covestro shareholders accept ADNOC’s XRG $15b takeover offer (Arabian Business 20/12/2024)

Modon Holding completes acquisition of La Zagaleta in Spain (WAM 19/12/2024)

Middle East sees surge in 2024 M&A activity as sovereign wealth funds lead investments (Arabian Business 17/12/2024)

UAE BILATERAL TRADE NEWS

UAE, Belarus Presidents discuss bilateral relations (WAM 22/12/2024)

CBUAE, Hong Kong Monetary Authority deepen financial market cooperation (WAM 20/12/2024)

Ethiopian Prime Minister opens UAE-built orphanage in Oromia Region (WAM 20/12/2024)

dnata Catering becomes Turkish Airlines’ exclusive partner in Australia (Government of Dubai Media Office 19/12/2024)

AD Ports Group appoints Egypt’s Hassan Allam Construction to build Noatum Ports – Safaga Terminal Infrastructure (WAM 18/12/2024)

DP World kicks off maritime construction at new $1.2b port in Senegal (WAM 18/12/2024)

India’s imports from UAE up 109% to $6.12b in November (Arabian Business 17/12/2024)

Drydocks World awarded Ostwind 4 project in Germany (WAM 16/12/2024)

UAE-China Investment Summit explores pathways to economic growth (WAM 16/12/2024)

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Written by Jenny Hunt

Founder, Gateway Group, Abu Dhabi and Dubai, United Arab Emirates

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