UAE Weekly Business News 19/02/24
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UAE Weekly Business News issue 176 published 19th February 2024.
UAE FREE ZONE NEWS
DAFZ to showcase its services, competitive investment advantages at Gulfood 2024 (WAM 18/02/2023)
DIFC marks 20th anniversary with record-breaking 2023 performance, exceptional contribution to Dubai’s economy (WAM 15/02/2023)
Dubai International Financial Centre now has 41,597 workers, 5,533 companies and is on track to double GDP contribution by 2030 (Arabian Business 15/02/2023)
HFZA to showcase competitive advantages, opportunities for investors at Gulfood 2024 (WAM 14/02/2023)
Titan Lithium to set up AED5b lithium processing plant in KEZAD (WAM 13/02/2023)
RAKEZ initiates business outreach in India to strengthen economic ties (WAM 12/02/2023)
ADGM Financial Services Regulatory Authority fines 6 financial institutions for breaching common reporting standard regulations (WAM 12/02/2023)
Masdar City launches smart vertical farm with AgriTech firm (The National 12/02/2024)
UAE VISA NEWS (inc. employment, Emiratisation, training, women)
Golden Visa demand growing among European property investors (Khaleej Times 18/02/2023)
UAE residence visa applicants can submit health insurance online (Arabian Business 17/02/2023)
UAE marks Professional Day of Nuclear and Radiation Sector Workers (WAM 16/02/2023)
UAE's nuclear and radiation sector boasts over 20,000 employees: Hamad Al Kaabi (WAM 16/02/2023)
GPSSA explains provisions of new Federal Law No. 57 of 2023 (WAM 16/02/2023)
UAE Golden Visa $272,000 rule change ‘widens door for more diverse pool of Dubai real estate investors’ (WAM 15/02/2023)
88% of public believes computer science opens job opportunities and reduces inequalities: WGS report (WAM 14/02/2023)
National Search and Rescue Centre paves way for more female representation in search and rescue sector (WAM 13/02/2023)
UAE remote working ‘valuable element’ but dangers remain (Arabian Business13/02/2023)
UAE Business and Economy News
DXB smashes targets with 87m guests in 2023, rising 31.7% from previous year (WAM 19/02/2023)
UAE real estate sector seeing massive upsurge in women investments with $25b recorded in 2023 (Arabian Business 19/02/2023)
Forward-looking vision of wise leadership reflected in UAE's non-oil foreign trade: Al Zeyoudi (WAM 18/02/2023)
UAE, Baden-Württemberg sign comprehensive Joint Declaration of Intent on industrial cooperation, decarbonisation opportunities (WAM 18/02/2023)
UAE Cabinet postpones implementation of resolution regulating weights, dimensions of heavy vehicles in country (WAM 18/02/2023)
Rabdan Academy signs MoU with NCEMA to enhance joint cooperation (WAM 18/02/2023)
Mohammed bin Rashid: UAE non-oil foreign trade of goods and services surpassed AED3.5t in 2023 for first time (WAM 18/02/2023)
702 million riders used public transport (Government of Dubai Media Office 18/02/2023)
Gulfood to lead the way on where the F&B industry goes next, driving investment, competitiveness and growth (WAM 18/02/2023)
Work on Dubai Metro Blue Line to start this year (The National 18/02/2023)
New hope for UAE hyperloop system as Italian line is approved (The National 17/02/2023)
Why new law changes are posing challenges for investors, banks (Khaleej Times 17/02/2023)
AED3.4b generated in property sales through ADJD's Auction App (WAM 16/02/2023)
How Emirates airline serves 149 meals per minute 40,000 feet up in the air (Khaleej Times 16/02/2023)
Naomi Campbell, Umar Kamani reveal plans to launch Dubai ‘talent management’ business (Arabian Business 16/02/2023)
Tenaris unveils its industrial complex in Abu Dhabi Industrial City (WAM 15/02/2023)
Khalifa Fund for Enterprise Development empowers 10 Emirati F&B businesses at Gulfood 2024 (WAM 15/02/2023)
Etihad Cargo continues strong cool chain product growth trajectory (WAM 15/02/2023)
Dubai Courts’ Amicable Dispute Resolution Centre secures fruitful settlements, triumphs in reconciliation in 2023 (WAM 15/02/2023)
UAE go-to country for innovation: NGC International Advisory (WAM 15/02/2023)
Update: change of WGS date : Mohammed bin Rashid directs hosting of next World Governments Summit between 11-13 February 2025 (WAM 15/02/2023)
Cleveland Clinic Abu Dhabi named among world's top hospitals (The National 15/02/2023)
UAE experts hope to find multiple sclerosis cure as patient walks again (The National 15/02/2023)
UAE's global AI ambitions require a diplomatic balancing act (The National 15/02/2023)
Majid Al Futtaim Lifestyle reveals rise of influencer marketing, consumer spends, upcoming trends (Arabian Business 15/02/2023)
Emirates in-flight dining last year: 40m chocolates, 10,350kg of caviar and a staggering amount of chicken (Arabian Business 15/02/2023)
300 new stores prop up Americana Restaurants revenues to $2.41b (Arabian Business 15/02/2023)
Flydubai launches new flights to Switzerland, Latvia, Estonia and Lithuania, now reaches 43 European destinations (Arabian Business 15/02/2023)
UAE AI Office partners with Emirates Global Aluminium to accelerate AI adoption in industrial sector (WAM 14/02/2023)
Air Taxi revolutionises urban transportation in Dubai: Joby Aviation CEO (WAM 14/02/2023)
Maktoum bin Mohammed, Theyab bin Mohamed witness signing of MoU between RTA and Etihad Rail (WAM 14/02/2023)
Mohammed bin Rashid, Indian Prime Minister lay foundation stone for market for Indian manufacturers, traders in Dubai (WAM 14/02/2023)
A stadium in 25 days: A World Record for FIFA Beach Soccer World Cup UAE 2024 (WAM 14/02/2023)
Abu Dhabi Department of Health, AI71 join forces to advance healthcare innovation (WAM 14/02/2023)
9.4% of Dubai’s transportation is currently self-driving, targeting 25% by 2030: Matar Al Tayer (WAM 14/02/2023)
ADNOC, bp to form gas joint venture (WAM 14/02/2023)
Ministry of Energy and Infrastructure launches Big Data Ecosystem and Digital Twin Platform at WGS (WAM 14/02/2023)
Retaining expatriate wealth crucial for long-term growth of Gulf economies as competition for retirement capital increases: WGS-Mercer report (WAM 14/02/2023)
Industry and Advanced Technology Forum addresses role of quality infrastructure in driving sustainable industrial development (WAM 14/02/2023)
UAE leads global efforts to accelerate sustainable development: ADFD Director-General (WAM 14/02/2023)
Digital Transformation: A Pillar of Arab Strategies Towards the Future (WAM 14/02/2023)
Gulf urged to speed up sustainable aviation fuel production (The National 14/02/2023)
Dubai sets target for 25% of transport in city to be self-driving by 2030 (Arabian Business 14/02/2023)
Dubai ranks as leading global real estate market for luxury home growth potential in 2024 forecast (Arabian Business 14/02/2023)
Gifting orders surge 80% on Valentine’s Day in UAE (WAM 14/02/2023)
Dubai real estate notches up over $21b sales in Jan-Feb (Arabian Business 14/02/2023)
Companies cash in on Valentine’s Day as consumer spending hits billions (WAM 14/02/2023)
(WAM 14/02/2023)
Barakah Unit 4 grid connection nears, electricity supply to follow: FANR Director-General (WAM 13/02/2023)
AI plays key role in accelerating pace of energy transformation: Sharif Al Olama (WAM 13/02/2023)
COP28 launches ‘The COP Presidencies Troika’ in partnership with COP29, COP30 Presidencies (WAM 13/02/2023)
Gradual operation of Unit 4 of Barakah to commence in March: UAE Permanent Representative to IAEA (WAM 13/02/2023)
Al Olama inaugurates Building Responsible Artificial Intelligence Forum at WGS (WAM 13/02/2023)
OpenAI CEO urges global AI oversight, invites UAE to lead discussions (WAM 13/02/2023)
UAE makes promising strides in global competitiveness race in 2024 (WAM 13/02/2023)
Reem Hospital launches dedicated mental health centre (WAM 13/02/2023)
Department of Health – Abu Dhabi partners with Philips to establish Malaffi platform as global reference resource (Abu Dhabi Media Office 13/02/2023)
Flying taxis in Dubai: A look at the electric aircraft coming in 2026 (The National 13/02/2023)
UAE fine dining is taking Dubai by storm, but is it worth the cost? (WAM 13/02/2023)
President of International for Bank of America hails 'dynamism' of UAE economy (WAM 12/02/2023)
Etihad Airways logs 1.4m passengers in January 2024 (WAM 12/02/2023)
Landmark UAE Consensus becomes defining framework for all countries to keep 1.5°C within reach, ensure global implementation (WAM 12/02/2023)
Dubai Municipality signs MoU with global companies to produce sustainable aircraft fuel (WAM 12/02/2023)
Experts say drones can slash delivery costs as Dubai plans revealed (The National 12/02/2024)
Health insurance in Dubai: $5.9b of transactions, 44m claims, 12,280 packages, 8,894 service providers (Arabian Business 12/02/2024)
Dubai Future Foundation announces 10 global trends: Robots, $265b cybersecurity threat, next-generation energy and the end of disease (Arabian Business 12/02/2024)
Flydubai launches flights to Langkawi and Penang (Arabian Business 12/02/2024)
Maruti Suzuki planning to make electric air copters (Arabian Business 12/02/20224)
UAE Financial News
UAE's gratuity system has corporate tax implications (The National 19/02/2023)
UAE stock trading firm ZaraFX strikes partnership with Luxembourg-based DHF Capital (Arabian Business 16/02/2023)
SALAMA records full-year revenue of AED1.1b; achieves 20% revenue growth in 2023 (WAM 15/02/2023)
Americana Restaurants delivers $2.4b revenue in 2023 (WAM 15/02/2023)
Tabreed registers AED2.4b in 2023 revenues; up 9% YoY (WAM 15/02/2023)
United Arab Bank posts 65% growth in 2023 net profits (Khaleej Times 15/02/2023)
Jaywan: New UAE-India payment card explained (Khaleej Times 15/02/2023)
UAE fintech Fils partners with online payment gateway Telr to offer sustainable infrastructure for e-commerce businesses (Arabian Business 15/02/2023)
Amanat Holdings announces record profits and 40% revenue growth in 2023 (WAM 15/02/2023)
Sharjah Islamic Bank, Kuwait Business Council cooperate to support Kuwaiti investments in UAE (WAM 14/02/2023)
UAE's advanced digital tools empower anti-money laundering efforts: Hamid Al Zaabi (WAM 14/02/2023)
ADNOC L&S reports AED2,2b in 2023 net profits, up 138% YoY; cash dividend of 6.45 fils per share for H2-23 (WAM 14/02/2023)
UAE enjoys excellent growth prospects: EBRD official (WAM 14/02/2023)
Report highlights GCC’s potential to boost GDP by $2.5t over next decade (WAM 14/02/2023)
Fertiglobe reports full-year 2023 revenues of $2,416m (WAM 14/02/2023)
UAE shows economic resilience in face of global challenges, says IMF official (WAM 14/02/2023)
UAE forging ahead with its groundbreaking Strategy for Artificial Intelligence: Senior Partner - Arthur D. Little Middle East (WAM 14/02/2023)
Abu Dhabi to host 'Annual Financial Restructuring MENA Conference' on February 19 (WAM 14/02/2023)
AD Ports Group reports AED1.36b in net profit for 2023, up 6% YoY (WAM 14/02/2023)
Agthia's 2023 net profit jumps 10% on strong revenue (The National 14/02/2023)
Taqa’s 2023 net profit more than doubles to $4.5b on strong demand (The National 14/02/2023)
Tech company e& posts 3% rise in 2023 profit on economic growth (The National 14/02/2023)
ALTÉRRA: How the UAE climate fund plans to mobilise $250b by 2030 (Arabian Business 14/02/2023)
PureHealth achieves over $4.4b in revenues, showing 31% YoY growth (Arabian Business 14/02/2023)
Oyo mulls freezing IPO plan, to opt for private raise: Report (Arabian Business 14/02/2023)
Air Arabia delivers record 2023 net profit of AED1.5b, up 27% (WAM 13/02/2023)
UAE an exceptional economic leader in Middle East: OECD Secretary-General (WAM 13/02/2023)
Al Mal Capital REIT launches rights issue on March 4 (WAM 13/02/2023)
Awqaf Dubai, Arab Women Authority, National Bonds launch ‘Women Sukuk’ (WAM 13/02/2023)
Alpha Dhabi's net profit climbs to record AED13.3b in 2023 (WAM 13/02/2023)
NMDC Group reports 65% surge in net profits in 2023 (WAM 13/02/2023)
Forward-thinking financial policies key to future preparedness: MoF Undersecretary (WAM 13/02/2023)
MBRSG launches 3rd 'Global Economic Diversification Index’ (WAM 13/02/2023)
Du profit up 33% on record revenue driven by generative AI in operations (The National 13/02/2023)
Dubai Ruler Sheikh Mohammed, World Bank President discuss global economic issues (Arabian Business 13/02/2023)
ADNOC Drilling announces 2023 net profit of over $1b (WAM 12/02/2023)
Banks 'bullish' on GCC economy despite Israel-Gaza war (The National 12/02/2023)
Investcorp Capital records fourth quarter profit of $21m (The National 12/02/2023)
UAE signs agreements with Arab countries on double taxation avoidance (Khaleej Times 12/02/2024)
UAE Mergers & Acquisitions News
M&A activity in MENA region hit $86bn last year (Arabian Business 12/02/2023)
UAE Bilateral Trade News
Trends Research and Advisory, Japanese delegation discuss prospects for research cooperation (WAM 18/02/2023)
Malaysia interested in learning from UAE's advanced AI capabilities: Ambassador (WAM 15/02/2023)
Rwandan President visits Dubai Police HQ, explores policing innovations (WAM 15/02/2023)
CEPA with UAE to make Mauritius a gateway to Africa for Middle East: Mauritius President (WAM 15/02/2023)
Russian delegation explores Zayed Higher Organisation's expertise in rehabilitation (WAM 15/02/2023)
UAE, India issue joint statement on visit of Indian Prime Minister (WAM 15/02/2023)
Abu Dhabi City and China’s Shenzhen sign strategic twin city agreement (Abu Dhabi Media Office 15/02/2023)
UAE discusses labour market relations with India, Bangladesh at Abu Dhabi Dialogue (WAM 14/02/2023)
São Paulo State, UAE’s ATRC collaborate to accelerate ‘Falcon AI’ adoption (WAM 14/02/2023)
Lesotho to establish digital schools in cooperation with UAE to prepare pioneering communities: Minister of Education (WAM 14/02/2023)
UAE key supporter in Cuba's energy transition projects: Prime Minister (WAM 14/02/2023)
Mohammed bin Rashid meets with Prime Minister of Kurdistan Region of Iraq (WAM 14/02/2023)
Serbia signs with UAE’s ATRC to encourage use of Falcon AI models (WAM 14/02/2023)
Hamed bin Zayed meets with President of Madagascar (WAM 14/02/2023)
Estonian Minister affirms her country's keenness to enhance educational cooperation with UAE (WAM 14/02/2023)
UAE’s AI Office signs three agreements with Austria, Mongolia and Colombia to promote AI (WAM 14/02/2023)
Government Experience Exchange Programme announces new leadership development programmes with Kazakhstan, Malta, Madagascar (WAM 14/02/2023)
UAE, India sign MoU to accelerate growth of digital economy (WAM 14/02/2023)
AD Ports Group signs agreements with Gujarat Maritime Board and RITES Limited (Abu Dhabi Media Office 14/02/2023)
UAE-India strategic partnership a model of sustainable development: Al Zeyoudi (WAM 13/02/2023)
UAE-India ties witnessing continuous momentum: Suhail Al Mazrouei (WAM 13/02/2023)
Sierra Leone Chief Minister emphasises collaboration with UAE in education, technology at WGS 2024 (WAM 13/02/2023)
UAE is a strategic partner in promoting good governance: President of Central African Republic (WAM 13/02/2023)
UAE President receives Prime Minister of Albania (WAM 13/02/2023)
Mohammed bin Rashid meets with President of the Kyrgyz Republic (WAM 13/02/2023)
Mohammed bin Rashid meets with President of Maldives at World (WAM 13/02/2023)
Colombia eyes Latin American digital leadership, aided by UAE: Minister (WAM 13/02/2023)
Mohammed bin Rashid meets with Prime Minister of Cuba (WAM 13/02/2023)
Mansour bin Zayed receives Prime Minister of Libya's Government of National Unity (WAM 13/02/2023)
UAE and Turkish Presidents discuss enhancing bilateral relations (WAM 13/02/2023)
Joint initiative between UAE, Brazil and Cuba to enhance food security announced (WAM 13/02/2023)
'We look forward to exchanging digital best practices with UAE': Korean Official (WAM 12/02/2023)
UAE President receives President of Congo-Brazzaville (WAM 12/02/2023)
Mohammed bin Rashid meets Egypt’s Prime Minister (WAM 12/02/2023)
Mohammed bin Rashid meets with Prime Minister of Qatar (WAM 12/02/2023)
UAE President, Egyptian Prime Minister discuss bilateral relations (WAM 12/02/2023)
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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
