UAE Weekly Business News 31/07/23
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UAE Weekly Business News, Issue 147. 31st July 2023.
UAE free zones news
Binance secures MVP licence from Dubai virtual asset regulator (WAM 31/07/2023)
HUB71, Wio Bank to enhance banking for tech startups in Abu Dhabi (WAM 26/07/2023)
How adopting common law in UAE free zones will benefit investors (The National 26/07/2023)
Dubai Government studies implementing Common Law in Free Zones (WAM 25/07/2023)
Abu Dhabi Global Market grants financial services permission to crypto exchange Rain (The National 25/07/2023)
DIFC Courts sets new record with AED15b in claims value in first six months of 2023 (WAM 24/07/2023)
UAE employment, visa and Emiratisation news
GPSSA launches unified GCC campaign on insurance protection extension system (WAM 31/07/2023)
‘Can I be forced to work overtime on my days off?’ (The National 30/07/2023)
DEWA launches 'For Her' programme to enhance its female employees capabilities (WAM 28/07/2023)
Wizz Air Abu Dhabi to hire 250 staff as it doubles fleet (The National 27/07/2023)
UAE top jobs, skills in the age of AI revealed: LinkedIn insights (Arabian Business 27/07/2023)
Abu Dhabi Quality and Conformity Council partners with Union Assessment and Certification to issue certification for 72 professions (WAM 26/07/2023)
L’Oreal Middle East, EHRDC partner to boost Emiratisation programme (Arabian Business 25/07/2023)
Second Ethraa Career Fair supports banking, financial sector with 400 job openings for citizens (WAM 24/07/2023)
Thuraiya Alhashmi Joins the BoD of New Development Bank, becoming first Emirati and Arab woman to hold a high profile global post within BRICS (WAM 24/07/2023)
MoIAT launches ICV Apprentice Program to train Emiratis in National ICV Program (WAM 24/07/2023)
Abu Dhabi and Dubai trade, economy and investment news
UAE property market stays strong amid residential and hospitality boom (The National 31/07/2023)
UAE's property market growth to continue this year, ADIB executive says (The National 31/07/2023)
UAE corporate tax: The importance of company secretarial duties (The National 31/07/2023)
TIR carnet transactions worth AED142m cleared by Dubai Customs (WAM 30/07/2023)
337m riders used public transport, shared mobility means and taxis in first half of 2023 (Government of Dubai Media Office 30/07/2023)
Etihad Airways ranked among most punctual airlines in Middle East in H1 2023 (Abu Dhabi Media Office 30/07/2023)
Black Cobra, OSTIM ink MoU to drive innovation in defence and aerospace sectors (WAM 28/07/2023)
Dubai records over AED10.6b in weeklong real estate transactions (WAM 28/07/2023)
Dubai Chamber to support 100 businesses in global expansion drive by 2024 (WAM 28/07/2023)
UAE suspends export of rice for four months (The National 28/07/2023)
UAE accounts for 57% of FDI projects in Arab countries in 2022 (WAM 27/07/2023)
DEWA commissions 676 11kV distribution substations in H1 2023 (WAM 27/07/2023)
RTA digitised 400,000 metro documents, registered 600,000 digital asset IDs in 2022 (WAM 27/07/2023)
UAE commercial property market records highest demand in 9 years (The National 27/07/2023)
Dubai: Top 9 areas recording highest value of property transactions in H1 revealed (Khaleej Times 27/07/2023)
Dubai sees completion of 9 real estate projects worth AED4.06b in H1 23 (WAM 26/07/2023)
Dubai International Chamber promotes local businesses with launch of Global Expansion Series (WAM 26/07/2023)
Hatta Customs Centre supports supply chains, handles 260 cargo trucks daily (WAM 26/07/2023)
Jebel Ali Port welcomes Hapag-Lloyd's first dual-fuel ultra-large container ship (WAM 26/07/2023)
KEZAD embarks on AED55m project for infrastructure upgrade over 40,000sqm in KEZAD Musaffah (WAM 26/07/2023)
Over 9m visitors to UAE’s Government Unified Digital Platform 'U.AE' in H1 2023(WAM 26/07/2023)
etisalat by e& launches tailored business solutions for startups and micro businesses (WAM 26/07/2023)
DEWA approves over 53,000 NOC applications in H1 2023 (WAM 26/07/2023)
How Abu Dhabi aims to be a regional hub for organ regeneration (The National 26/07/2023)
Dubai’s luxury home prices rise the most in H1 (Khaleej Times 26/07/2023)
UAE’s e& launches first metaverse in the region (Arabian Business 26/07/2023)
How Abu Dhabi became the Monaco of the Middle East (Arabian Business 26/07/2023)
Dubai, Abu Dhabi real estate markets cash in as soaring investor confidence fuels UAE off-plan property boom (Arabian Business 26/07/2023)
Palm Jumeirah real estate: 180 properties sold for over $2.7m this year, just one bargain of less than $204,000 (Arabian Business 26/07/2023)
KEZAD Group, Al Jazeera Steel Products break ground for AED250m rolling steel mill in Abu Dhabi (WAM 25/07/2023)
Aldar increases investment in its retail portfolio to AED1b with new redevelopment plans (WAM 25/07/2023)
GMC reflects UAE's leading position as global media industry capital (WAM 25/07/2023)
Shakhboot bin Nahyan addresses UAE’s pioneering approach to food security and sustainable healthcare (WAM 25/07/2023)
Marine transport services between Dubai and Sharjah to be resumed from August 4th (WAM 25/07/2023)
Under directives of Hamdan bin Mohammed, Dubai Assembly for Generative AI to be held from 11-12 October (WAM 25/07/2023)
MoHRE records 18.6m communication processes with its customers in H1 2023 (WAM 25/07/2023)
DEWA's 'Al Namoos' service witnesses 104% increase in electricity connection requests (WAM 25/07/2023)
Department of Culture and Tourism – Abu Dhabi’s Modern Heritage initiative preserving 64 sites across the emirate (Abu Dhabi Media Office 25/07/2023)
Abu Dhabi Agriculture and Food Safety Authority Fodder Market receives significant demand since activation on TAMM (Abu Dhabi Media Office 25/07/2023)
Dubai's cheaper communities record rise in property prices (The National 25/07/2023)
Why the Arab world will benefit by investing in mental healthcare (The National 25/07/2023)
UAE improves ranking as one of the most attractive places for offshore services (The National 25/07/2023)
Dubai, Abu Dhabi record major H1 surge in off-plan deals (Khaleej Times 25/07/2023)
Abu Dhabi real estate booms as more of world’s wealthy flock to UAE capital (Arabian Business 25/07/2023)
MENA startup ecosystem sees paradigm shift: Valuations and initial funding sizes drop (Arabian Business 25/07/2023)
Ski Dubai to host 28 snow events, championships, training camps (Arabian Business 25/07/2023)
DET launches ‘Dubai Sustainable Tourism Stamp’ to recognise hotels with the highest adherence to sustainability standards (WAM 24/07/2023)
Burjeel Holdings to operate and manage Al Dhannah Hospital (WAM 24/07/2023)
Hamdan bin Mohammed issues resolution amending regulations governing railways in Dubai (WAM 24/07/2023)
Abu Dhabi witnesses remarkable 363% growth in FDI in the Real Estate Sector During H1 2023 (WAM 24/07/2023)
Department of Health – Abu Dhabi admits 484 medical graduates into its Medical Education Programmes (WAM 24/07/2023)
Abu Dhabi City Municipality carries out inspection campaign on construction sites (WAM 24/07/2023)
Global Media Congress proves UAE’s capability to gather all parties in preparation for future media (WAM 24/07/2023)
Abu Dhabi Maritime, ADNOC Distribution to explore marine refuelling facilities across emirate (WAM 24/07/2023)
China's WeRide planning hundreds of autonomous vehicles on UAE roads by 2025 (The National 24/07/2023)
How Etihad Airways revived its A380s – from storage to the skies (The National 24/07/2023)
Dubai International retains busiest airport title in July (Khaleej Times 24/07/2023)
Dubai government introduces new initiatives to future-proof family businesses (Arabian Business 24/07/2023)
Dubai makes history in 2023 to become world’s leading luxury property market, outpacing London, NY and Paris (Arabian Business 24/07/2023)
UAE Financial News
AD Ports Group, Saab UAE to set new industry standards for efficiency, safety in port operations (WAM 31/07/2023)
UAE’s mortgage market witnesses surge in refinancing due to rising interest rates (Arabian Business 31/07/2023)
UAE to establish federal prosecution entities specialised in economic crimes, money laundering (WAM 30/07/2023)
UAE corporate tax: FTA to allow clarification requests on registration (Khaleej Times 30/07/2023)
MoF announces schedule of administrative penalties for corporate tax violations (WAM 29/07/2023)
MoF announces new cabinet decision setting additional conditions for investment funds' exemption from corporate tax (WAM 29/07/2023)
MoF issues Cabinet Decision on Executive Regulation of New Tax Procedures Law (WAM 29/07/2023)
Waha Capital H1 2023 net profit up 221% year-on-year to AED318m (WAM 29/07/2023)
Emirates Stallions Group reports net profit of AED597m in H1 2023 (WAM 28/07/2023)
Tabreed reports net profit of AED386.4m for H1 2023 (WAM 28/07/2023)
Borouge reports first-half revenues of $2.8b (WAM 28/07/2023)
How UAE equity markets can reach the next level of growth (The National 28/07/2023)
ADIB sees 61% net profit growth to AED2.3b in H1 23 (WAM 27/07/2023)
Nasdaq Dubai welcomes Dar Al-Arkan's listing of $600m sukuk (WAM 27/07/2023)
Union Properties reports net profit of AED5.4m in second Quarter of 2023 driven by continued growth in Dubai's real estate market (WAM 27/07/2023)
Emirates NBD’s H1 2023 profit surge 130% to record AED12.3b (WAM 27/07/2023)
Emirates Islamic’s net profit rises to AED1.2b for first half of 2023 (WAM 27/07/2023)
Insurer Dar Al Takaful changes name to Watania International Holding (The National 27/07/2023)
DFM second-quarter profit climbs to nearly $21m on increase in new investors (The National 27/07/2023)
CBUAE raises base rate by 25 basis points (WAM 26/07/2023)
EasyLease revenue grows by 37.5% to AED139m in H1 2023 (WAM 26/07/2023)
DIB logs 15% net profit growth reaching AED3.1b in H1'23 (WAM 26/07/2023)
NMDC Group doubles first half net profit to AED881m (WAM 26/07/2023)
Emirates Integrated Telecommunications Company delivers another quarter of strong operating and financial performance with a 31.2% increase in net profit (WAM 26/07/2023)
RAKBANK delivers highest ever half yearly net profit of AED901m, up 71% y-o-y (WAM 26/07/2023)
Abu Dhabi Catalyst Partners announces strategic partnership with A.P. Moller Capital (WAM 26/07/2023)
DIB profit up 17% in second quarter as economic momentum continues (The National 26/07/2023)
Du's second-quarter net profit jumps 31% on higher revenue (The National 26/07/2023)
Mashreq’s second quarter profit surges 139% (The National 26/07/2023)
Ministry of Finance publishes preliminary results of UAE Government Finance Statistics for Q1 23 (WAM 25/07/2023)
Multiply Group reports AED400m profits in Q2 2023 (WAM 25/07/2023)
UAE government revenue hits $32b in Q1 amid economic boom and diversification efforts (The National 25/07/2023)
United Arab Bank reports financial results for six months ended 30th June 2023 (WAM 24/07/2023)
Dubai's inflation rate eases in June to lowest this year (The National 24/07/2023)
Hefty fines in Dubai: Up to AED2m for forging credit, debit cards (Arabian Business 24/07/2023)
UAE bilateral trade news
Wide participation of Polish companies at WETEX, Dubai Solar Show 2023 (WAM 31/07/2023)
UAE ranks fourth biggest market for Indian spices as Mumbai plans World Spice Congress (WAM 29/07/2023)
AD Ports Group and Shandong Ports Group extend Cooperation to attract Chinese automotive companies (WAM 27/07/2023)
Dubai Chamber of Commerce establishes Romanian Business Council to boost bilateral trade and promote cross border business opportunities (WAM 27/07/2023)
UAE President and Brazilian President discuss bilateral relations in a phone call (WAM 27/07/2023)
Masdar joins Iberdrola to co-invest in Baltic Eagle wind farm in Germany (WAM 26/07/2023)
DMT delegation explores China’s smart city innovations, sustainable transport solutions (WAM 26/07/2023)
Abu Dhabi Residents Office, JETRO collaborate to promote attraction of specialised talent and investors (WAM 25/07/2023)
Mubadala Energy and Pertamina collaborate on carbon capture, utilisation and storage applications in Indonesia (WAM 25/07/2023)
Dubai Chamber of Digital Economy forges strong ties with Chinese firms in week-long roadshow (WAM 25/07/2023)
UAE's Minister for Foreign Trade elected as Chair of WTO’s 13th Ministerial Conference (WAM 24/07/2023)
ADNEC Group showcases IDEX and NAVDEX 2025, UMEX and SimTEX 2024 at the 16th International Defence INdustry Fair in Turkiye (WAM 24/07/2023)
UAE leads in development efforts, supporting developing nations (WAM 24/07/2023)
Shakhboot bin Nahyan meets President of Zambia (WAM 24/07/2023)
Shakhboot bin Nahyan meets with Transitional President of Chad (WAM 24/07/2023)
DEWA, South Korean companeis discuss strengthening sustainability, clean energy (WAM 24/07/2023)
Khaled bin Mohamed bin Zayed receives The Regent of Pahang (Abu Dhabi Media Office 24/07/2023)
Leading up to COP28 in the UAE (30th November - 12th December 2023)
COP28 President-Designate urges G20 nations to lead the way and demonstrate solidarity on climate action (WAM 29/07/2023)
COP28 UAE and UNFCCC urge G20 nations to show leadership on climate change mitigation and adaptation (WAM 27/07/2023)
Suhail Al Mazrouei affirms UAE's commitment to adopt clean energy, support Paris Agreement (WAM 26/07/2023)
Mariam Almheiri advocates for Climate Action for Food Systems and Agriculture at UN Food Systems Summit 2.0 Stocktaking Moment (WAM 25/07/2023)
ISA’s 5th Regional Meeting of Asia Pacific Region 2023 charts course towards solar-powered future ahead of COP28 (WAM 25/07/2023)
COP28 calls on governments to ensure food systems and agriculture are central to climate action efforts (WAM 24/07/2023)
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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
