UAE Weekly Business News 21/08/23

Gateway Group's UAE Weekly Business News. Abu Dhabi and Dubai trade, investment and economy headlines.

Welcome to Gateway Group's weekly collection of business highlights from Abu Dhabi and Dubai. It's the ideal way of staying informed about crucial UAE business news, conveniently in one place.

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UAE Weekly Business News, Issue 150. 21st August 2023.

UAE free zones news

• UAE freezone sees boom in Chinese interest amid $200b trade target (Arabian Business 16/08/2023)

• DIFC subsidizes commercial licences 90% to help AI and Web3 companies set up (The National 14/08/2023)

UAE employment, visa and Emiratisation news

• Dubai rated top city in the world and Abu Dhabi fourth for remote workers (The National 17/08/2023)

• Can an entry permit be valid for re-entry to UAE after 6mths outside the country? (The National 17/08/2023)

• Dubai announces new entry permit system (Arabian Business 17/08/2023)

• Dubai announces 10-year jail time for forging visa, residence permit (Arabian Business 17/08/2023)

• 27 organisations sponsor 1st edition of Emirates Labour Market Award: MOHRE (WAM 16/08/2023)

• What is the UAE’s Golden Pension scheme? (The National 16/08/2023)

• National Bond's 'Second Salary’ plan ties up with Ports, Customs and Freezone Corporation (Arabian Business 16/08/2023)

UAE business, trade, economy and investment news

• UAE to expand geothermal energy ambitions (The National 21/08/2023)

• Dubai scores advanced position in TomTom Traffic Index (Government of Dubai Media Office 20/08/2023)

• Entry of Russian investsors led to 47% rise in Dubai property costs (Khaleej Times 20/08/2023)

• Dubai property prices stabilising after 2 years of increase (Khaleej Times 20/08/2023)

• UAE household wealth stood at $1.2t in 2022 (Khaleej Times 20/08/2023)

• Abu Dhabi Civil Defence Authority undertakes field survey in Al Ain (Abu Dhabi Media Office19/08/2023)

• Dubai records AED10.4b in weekly real estate transactions (WAM 18/08/2023)

• Brand Dubai launches new #DubaiDestinations guide (WAM 18/08/2023)

• Al Quoz Creative Zone – A home for creativity and success (WAM 17/08/2023)

• Emirates and Philippine Airlines enhance interline partnership (WAM 17/08/2023)

• MoIAT promotes best practices and investment in recycled plastic food packaging (WAM 17/08/2023)

• ADDED, e& enterprise to support transition to Industry 4.0 and sustainability (WAM 17/08/2023)

• EWEC to conduct its Q3 2023 Clean Energy Certificates Auction (WAM 17/08/2023)

• Sinaha Platform launches ‘Unified Smart Catalog’ to promote UAE products (WAM 17/08/2023)

• Khaled bin Mohamed bin Zayed reshuffles Advanced Technology Research Council BOD (WAM 17/08/2023)

• 8th Annual Abu Dhabi Sustainable Business Leadership Awards to be held on 3rd Oct (WAM 17/08/2023)

• Emirates and Air Canada expand codeshare deal to Montreal flights (The National 17/08/2023)

• 'Fuel of the future': Gulf states, including UAE, bet on 'green' hydrogen (Khaleej Times 17/08/2023)

• Emirates announces expanded service to Philippine provinces (Khaleej Times 17/08/2023)

• UAE eyes plans for winter sports tournament (Arabian Business 17/08/2023)

• MRO Middle East and AIME will return for record edition in 2024 (WAM 16/08/2023)

• DWTC's hospitality division sees 32% growth in H1'23 (WAM 16/08/2023)

• ACWA Power preferred bidder for DEWA's 180MIGD Hassyan Seawater Reverse Osmosis IWP (WAM 16/08/2023)

• Dubai Chamber of Commerce discusses future of private notary office services (WAM 16/08/2023)

• Dubai Municipality leverages AI robots in testing construction materials (WAM 16/08/2023)

• Emirates Group expands collaboration with PwC's Academy (WAM 16/08/2023)

• 'Supercharged' villa prices drive Dubai property growth (The National 16/08/2023)

• Abu Dhabi university harnesses AI to detect infant heart disease (The National 16/08/2023)

• Sustained demand drives Dubai home prices up by 17% in 12 months (Khaleej Times 16/08/2023)

• Dubai industrial, logistical space sees surge in demand in H1 2023

• IndiGo launches flights from Ahmedabad to Abu Dhabi (Arabian Business 16/08/2023)

• New industrial licences surge 16.6% in 1st year after Abu Dhabi Industrial Strategy launch (WAM 15/08/2023)

• DP World to add 3m TEU of new container handling capacity by end of 2023 (WAM 15/08/2023)

• Dubai Chamber of Commerce receives total of 75 mediation cases during H1 2023 (WAM 15/08/2023)

• Inaugural Abu Dhabi Global Healthcare Week to take place in May 2024 (WAM 15/08/2023)

• Global Media Congress consolidates UAE’s position as global capital of media industry (WAM 15/08/2023)

• Emirates Airline adds more London Heathrow flights to meet demand (Arabian Business 15/08/2023)

• UAE public holiday: 3-day weekend expected dates revealed (Arabian Business 15/08/2023)

• Abu Dhabi manufacturing investment hits $105bn (Arabian Business 15/08/2023)

• ADNOC, Tabreed advance first project in the region to harness geothermal energy (WAM 14/08/2023)

• UAE to use AI to boost bin collections (Arabian Business 14/08/2023)

UAE Financial News

• Majid Al Futtaim first-half earnings soar 74% (The National 21/08/2023)

• Dubai offers training after bounced cheques decriminalised (Arabian Business 20/08/2023)

• ECI inks three MoUs with leading banks, insurance companies in Ethiopia (WAM 19/08/2023)

• How Indians in the UAE can save on taxes when selling property back home (The National 18/08/2023)

• ADIB's digital adoption surges with 80% of customers embracing digital services (WAM 17/08/2023)

• Emirates Development Bank launches supply chain financing for SMEs with Trade Capital Partners (WAM 17/08/2023)

• DP World announces resilient H1 results with adjusted EBITDA of $2.6b (WAM 17/08/2023)

• Dubai fines digital asset exchange Opnx and Three Arrows founders (The National 17/08/2023)

• How to close a bank account before leaving the UAE (The National 17/08/2023)

• Dubai and Saudi Arabia inflation slowed in July (The National 16/08/2023)

• Yalla Group records AED561m in first half revenues (The National 17/08/2023)

• AD Ports Group delivers 66% revenue growth in Q2 '23 (The National 17/08/2023)

• National banks’ financing for business, industrial sectors: AED28.4b over 5 months (WAM 14/08/2023)

• 387 persons arrested in 521 money-laundering cases, AED4 bn confiscated (WAM 14/08/2023)

• Shuaa's top shareholder Jassim Alseddiqi to cut stake and step down as MD (The National 14/08/2023)

UAE bilateral trade news

• Brazilian exports to Arab countries climb 8% to $10.6b between January and July 2023 (WAM 20/08/2023)

• Head of Ethiopian community commends depth of Emirati-Ethiopian friendship (WAM 20/08/2023)

• UAE, Ethiopia: Collaborations and efforts in sustainability and facing climate challenges (WAM 18/08/2023)

• Emirati companies operating in Ethiopia are enriching bilateral relations (WAM 18/08/2023)

• Emirati investments in Ethiopia totalled $2.9b at end of 2022 (WAM 18/08/2023)

• UAE-Ethiopia non-oil trade exchange surges with 180% increase over 10 years (WAM 18/08/2023)

• UAE President, Prime Minister of Ethiopia witness signing of bilateral MoUs, agreements (WAM 18/08/2023)

• UAE President, Prime Minister of Ethiopia discuss cooperation (WAM 18/08/2023)

• UAE and Ethiopia: Journeying towards shared developmental goals (WAM 18/08/2023)

• Hong Kong aims to attract investments from UAE, Middle East at 'Belt and Road Summit' (WAM 17/08/2023)

• ADNOC Gas signs 5-year LNG supply agreement with Japan Petroleum Exploration (WAM 17/08/2023)

• UAE President receives Prime Minister of Kurdistan Regional Government of Iraq (WAM 17/08/2023)

• India has started buying UAE oil with rupees - here's what it means (The National 17/08/2023)

• Ethiopia and AfDB ink $84.3m grant agreement to enhance wheat production (WAM 16/08/2023)

• ADNEC Group opens new Capital Holiday office in Munich (WAM 16/08/2023)

• UAE President receives credentials from foreign ambassadors (WAM 16/08/2023)

• Al Dahra, ADEX partner to secure Egypt's wheat supply in $500m agreement (WAM 15/08/2023)

• Thani Al Zeyoudi meets Brazilian trade, agriculture and tourism ministers to deepen trade and investment ties (WAM 15/08/2023)

• Abdullah bin Zayed, Azeri FM discuss bilateral relations over phone (WAM 15/08/2023)

• Abdullah bin Zayed, German FM discuss strategic partnership over phone (WAM 14/08/2023)

Leading up to COP28 in the UAE (30th November - 12th December 2023)

• FANR prepares for COP28 introducing initiatives foreseeing the future of nuclear energy (WAM 17/08/2023)

• COP28 President-Designate joins in African climate and environment ministerial meeting (WAM 17/08/2023)

• World-leading economists convened by COP28 set steps to reform international climate finance (WAM 16/08/2023)

• New climate finance framework needs to unlock more private capital, Dr Al Jaber says (The National 16/08/2023)

• Mohamed bin Zayed: Under UAE Presidency, COP28 will lead global efforts to protect the planet and safeguard future generations (WAM 15/08/2023)

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Written by Jenny Hunt

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

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