UAE Weekly Business News 13/02/23

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

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UAE Weekly Business News, Issue 123. 13th February 2023.

Abu Dhabi and Dubai trade license, entrepreneur, employment and visa-related news headlines

• UAE salary guide 2023: How much can Emiratis earn in Dubai and Abu Dhabi (The National 13/02/2023)

• Mena jobs: More companies plan to hire interns to tap new talent (The National 13/02/2023)

• ‘Can we wait until December 31 to switch to limited-term contracts?’ (The National 12/02/2023)

• RAKEZ to issue business licences in less than 5 minutes (WAM 09/02/2023)

• ADJD's Experts Affairs Committee suspends registration of 13 experts (WAM 09/02/2023)

• DCD launches services for public interest associations and civil society foundations through TAMM Platform (WAM 09/02/2023)

• Dubai enacts new rules for ultra-wealthy and family businesses operations (The National 09/02/2023)

• Mohammed bin Rashid issues laws to establish new corporations under Dubai’s Department of Economy and Tourism (WAM 08/02/2023)

• MoHRE handles over 30m customer interactions in 2022 (WAM 08/02/2023)

• Emirates Development Bank, ADGM to partner on supportive initiatives for business establishment and expansion (WAM 08/02/2023)

• Quadruple cooperation agreement to support Emiratisation efforts of 'Special Education Staff' profession profession ZHO (WAM 08/02/2023)

• Here's what teachers in UAE earn compared to in their home countries (The National 08/02/2023)

• Dubai gets new corporations under Department of Economy and Tourism to boost growth (The National 08/02/2023)

• DUBAI’s VARA issues specialised regulations for virtual assets (WAM 07/02/2023)

• Ministry of Human Resources announces amendments to mechanism of achieving Emiratisation targets (WAM 07/02/2023)

• Abu Dhabi Labour Court helps 14,777 workers to receive dues worth AED317m in 2022 (WAM 06/02/2023)

• Emiratis need to spend at least 1 year in entity to receive end-of-service benefits: GPSSA (WAM 06/02/2023)

UAE bilateral trade news headlines

• UAE President meets number of world leaders, heads of delegations at WGS 2023 (WAM 13/02/2023)

• MoFAIC delegation visits Paris to discuss trilateral cooperation with France, India (WAM 13/02/2023)

• UAE, Turkmenistan issue joint statement marking visit of Chairman of People’s Council of Turkmenistan (WAM 13/02/2023)

• Egyptian President arrives in Abu Dhabi (WAM 12/02/2023)

• Mansour bin Zayed receives Chairman of People's Council of Turkmenistan (WAM 12/02/2023)

• Sheikha Bodour Al Qasimi welcomes delegates from University of Exeter (WAM 12/02/2023)

• Mohammed bin Rashid meets with President of Central African Republic (WAM 12/02/2023)

• Mohammed bin Rashid meets with IMF Managing Director (WAM 12/02/2023)

• Mohammed bin Rashid meets with Prime Minister of Iraqi Kurdistan Regional Government (WAM 12/02/2023)

• Mohammed bin Rashid meets with Founder of World Economic Forum (WAM 12/02/2023)

• UAE, Iraq issue joint statement following Prime Minister's visit (WAM 11/02/2023)

• Abu Dhabi Exports Office signs AED445m green finance agreements with Angola (WAM 10/02/2023)

• UAE, Japan discuss cooperation in human resources development (WAM 10/02/2023)

• Emirates SkyCargo and Air Canada Cargo ink MoU to enhance networks (WAM 10/02/2023)

• UAE President, Iraqi PM discuss bilateral cooperation, latest regional and global developments (WAM 09/02/2023)

• Ducab Group enhances its footprint in India (WAM 09/02/2023)

• World FZO discusses cooperation with WTO, ILO (WAM 09/02/2023)

• Dubai Chambers inaugurates new office in Hong Kong (WAM 09/02/2023)

• UAE Embassy in Moscow holds reception to mark International Day of Human Fraternity (WAM 09/02/2023)

• UAE supports second phase of water supply projects in Sinjar, Iraq (WAM 09/02/2023)

• Mohammed bin Rashid meets with Prime Minister of Iraq and explores new opportunities to strengthen bilateral relations (WAM 09/02/2023)

• Mohammed bin Rashid meets with the Chief Executive of Hong Kong (WAM 09/02/2023)

• Presidents, thought leaders, international organisations, entrepreneurs to showcase their visions for future at WGS2023 (WAM 09/02/2023)

• DEWA discusses cooperation with German State of Saxony (WAM 09/02/2023)

• UAE, Qatar announce linkage of traffic systems (WAM 08/02/2023)

• Abu Dhabi, Singapore deepen cooperation with smart city pilot projects (WAM 08/02/2023)

• Bahraini King receives UAE President at his residence in Abu Dhabi (WAM 08/02/2023)

• UAE, Singapore explore cooperation at 14th Abu Dhabi-Singapore Joint Forum (WAM 08/02/2023)

• UAE, Thailand launch 1st Emirati-Thai Business Council (WAM 07/02/2023)

• Etihad cargo signs MOU with Astral Aviation to expand African network (WAM 07/02/2023)

• UAE, Italy review advancing defence cooperation (WAM 07/02/2023)

• World Government Summit UAE holds Seventh Annual Arab Fiscal Forum (WAM 06/02/2023)

• Modi praises utilisation of UAE-India Comprehensive Economic Partnership Agreement (WAM 06/02/2023)

• Masdar opens an office in Azerbaijan amid plans to boost its renewable portfolio (The National 06/02/2023)

UAE business and economy-related news headlines

• International Atomic Energy Agency conference begins in Abu Dhabi (WAM 13/02/2023)

• Dubai Islamic Bank raises $1b from sustainable sukuk issuance (The National 13/02/2023)

• Abu Dhabi Chamber signs three MoUs to support private sector (WAM 12/02/2023)

• Hatta Customs Centre deals with 78,600 trucks and 587,000 vehicles in 2022 (WAM 12/02/2023)

• CBUAE launches a Financial Infrastructure Transformation Programme to accelerate the digital transformation of the financial services sector (WAM 12/02/2023)

• Moonshot MENA’ report launched in partnership with PwC’s Strategy& Middle East (WAM 12/02/2023)

• The future belongs to those employing data to drive progress and innovation: Ohood Al Roomi (WAM 12/02/2023)

• Dubai Chamber of Digital Economy engages industry players in shaping future Gig Economy landscape in Dubai (WAM 11/02/2023)

• International Property Show to focus on investment opportunities (WAM 10/02/2023)

• Dubai Chamber encourages Dubai Companies to apply for parent-friendly label (WAM 10/02/2023)

• Dubai records AED10.3b in weeklong real estate transactions (WAM 10/02/2023)

• Breakbulk Middle East 2023 unites top decision-makers through Breakbulk Global Shippers Network (WAM 10/02/2023)

• Abu Dhabi's FAB says it is not considering bid for Standard Chartered (The National 10/02/2023)

• Bunkering supply operations saw 30% growth in 2022: DMCA Executive Director (WAM 09/02/2023)

• QCC adopts Abu Dhabi Technical Specifications for Active Workplaces (WAM 09/02/2023)

• DIFC announces enactment of new DIFC family arrangements regulations (WAM 09/02/2023)

• DIFC Courts settles over 860 cases in 2022, with total value of AED4.4b (WAM 09/02/2023)

• Etihad Cargo expands European capacity (WAM 09/02/2023)

• Federal Authority for Nuclear Regulation launches its 2023-2026 Strategy (WAM 09/02/2023)

• Abu Dhabi Airports announce 15.9m total passenger traffic for 2022 (WAM 09/02/2023)

• AEEDC Dubai 2023 concludes with $4.7b worth of deals (WAM 09/02/2023)

• Dubai Culture and Art Jameel announce Jaddaf Playscape Commission programme (WAM 09/02/2023)

• Mohammed bin Rashid presides over the swearing-in ceremony of new judges (WAM 09/02/2023)

• COP28 UAE Higher Committee highlights presidential action agenda, progress updates (WAM 09/02/2023)

• Saadiyat Island Abu Dhabi '#BestBeach destination' in ME for 11th consecutive year (WAM 09/02/2023)

• EWEC to conduct its Q1 2023 Clean Energy Certificates Auction (WAM 09/02/2023)

• Dubai's non-oil private economy stays robust on demand boost (The National 09/02/2023)

• Abu Dhabi connects islands with 11km bridge (The National 09/02/2023)

• 'Strong pipeline' of green bonds likely from Middle East in 2023, S&P says (The National 09/02/2023)

• UAE shares continue their upward streak (WAM 08/02/2023)

• ‘Innovation Talks’ charts Dubai’s path to sustainable future (WAM 08/02/2023)

• Emirates Islamic first bank in UAE to issue Dirham Sukuk (WAM 08/02/2023)

• Dubai Customs inspectors screened 111,000 bags daily in 2022 (WAM 08/02/2023)

• UAE industry leaders discuss path to equitable, sustainable future (WAM 08/02/2023)

• Dubai Chamber of Digital Economy addresses challenges faced by fintechs (WAM 08/02/2023)

• Abu Dhabi Global Market Academy, EDGE sign MoU to strengthen UAE’s knowledge economy (WAM 08/02/2023)

• Ministry of Industry and Advanced Technology highlights achievements of 2022 (WAM 08/02/2023)

• Dubai Foundation for Women and Children takes part in UAE Innovates 2023 (WAM 08/02/2023)

• dans, MBRSC sign MoU for Aerospace Communications, Navigation and Surveillance (WAM 08/02/2023)

• 'Yas SeaWorld Research & Rescue' opens in Yas Island (WAM 08/02/2023)

• UAE plans to ease doing business expected to boost FDI inflows (The National 08/02/2023)

• UAE industry strengthens with Operation 300b and In-Country Value programme (The National 08/02/2023)

• The UAE's corporate tax law explained: Business Extra (The National 08/02/2023)

• Integrate Middle East 2023 launches in Dubai on May 16 (WAM 07/02/2023)

• Dubai Land Department to showcase its 2026 plan at International Property Show (WAM 07/02/2023)

• UAE President receives Mohammed bin Rashid (WAM 07/02/2023)

• UAE COP 28 President Designate begins his 1st international tour, calls all parties to achieve tangible progress in climate action (WAM 07/02/2023)

• UAE to host IAEA Nuclear and Radiation Regulatory Systems Conference (WAM 07/02/2023)

• Mohammed bin Rashid announces cabinet reshuffle (WAM 07/02/2023)

• Sheikh Maktoum appoints new executive directors of Financial Audit Authority in Dubai (The National 07/02/2023)

• EGX chairman says state IPO programme will spur capital inflows (The National 07/02/2023)

• Demand for plastic surgery doubles in Dubai (The National 07/02/2023)

• Mohammed bin Rashid witnesses the signing of a new series of performance agreements for ministers and government officials (WAM 06/02/2023)

• UAE foreign trade achieved AED2.233t in 2022 with growth rate of 17%: Mohammed bin Rashid (WAM 06/02/2023)

• Dubai Taxi to become fully eco-friendly by 2027 (WAM 06/02/2023)

• Environment Agency - Abu Dhabi issues marine water quality policy (WAM 06/02/2023)

• Local Press: UAE's arts scene is experiencing a full-throttle return to form (WAM 06/02/2023)

• DP World fourth-quarter container volumes rise 2.4% (The National 06/02/2023)

• Sheikh Mohammed bin Rashid reflects on 'unprecedented' UAE property boom (The National 06/02/2023)

Financial Results

• Empower announces revenues of AED2.8b in 2022 (WAM 13/02/2023)

• ADNOC Drilling reports $802m net profit, up 33% y-o-y (WAM 13/02/2023)

• Emirates Steel Arkan’s 2022 net profit increases to AED508.5m, buoyed by strong global sales (WAM 13/02/2023)

• Adnoc Drilling's Q4 net income surges 61% on record revenue (The National 13/02/2023)

• Burjeel Holdings records AED355m in net profit (WAM 10/02/2023)

• Waha Capital reports net profit of AED449m for 2022 (WAM 10/02/2023)

• ADNEC Group delivers strong 2022 performance, contributes to economic development in Abu Dhabi (WAM 10/02/2023)

• TECOM Group reports AED2b in revenues in 2022, highest in 22 years (WAM 10/02/2023)

• Multiply Group reports net profit of AED18.56b for FY 2022

• Aldar posts net profit of AED3.1b in 2022 (WAM 10/02/2023)

• Salik’s 2022 revenue climbs 12% to $514m (The National 10/02/2023)

• Alpha Dhabi's net profit more than doubles on higher revenue (The National 10/02/2023)

• Yahsat posts 6% increase in revenue in 2022 (The National 10/02/2023)

• ADNOC Distribution reports strong earnings for 2022 (WAM 09/02/2023)

• RAK Ceramics' net income in 2022 climbs 23% on revenue boost (The National 09/02/2023)

• Aramex posts 42% rise in Q4 normalised profit on freight-forwarding unit growth (The National 09/02/2023)

• DEWA announces AED11.1 bn in record standalone 2022 net profit (WAM 08/02/2023)

• Dana Gas reports 53% rise in 2022 adjusted net profit on higher oil prices (The National 08/02/2023)

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Written by Jenny Hunt

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

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