UAE Weekly Business News 14/08/23

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 149. 14th August 2023.

UAE free zones news

• Smart Salem to expand UAE residence visa processing services in DIFC (WAM 10/08/2023)

• DFSA publishes report on cyber simulation exercise (WAM 10/08/2023)

• DIFC issues first-of-its-kind adequacy decision regarding the California Consumer Privacy Act (WAM 09/08/2023)

• DFSA, Financial Intelligence Unit sign MoU to strengthen collaborative action against financial crime (WAM 08/08/2023)

• Jafza to house Neweast's new AED500m automotive parts distribution hub (WAM 07/08/2023)

UAE employment, visa and Emiratisation news

• UAE ranks first in employment of Indians (WAM 13/08/2023)

• ‘How many days of annual leave is my housemaid entitled to?’ (The Natonal 13/08/2023)

• UAE Golden Visa: Do engineers need a salary of AED30,000 to be eligible? (Khaleej Times 13/08/2023)

• Emirates Foundation announces H1 2023 results of its ‘DAWAMEE’ programme (WAM 10/08/2023)

• Abu Dhabi revokes lawyer's licence over criminal convictions (The National 10/08/2023)

• AED2.3m recovered from 107 Nafis’ beneficiaries for accepting fake Emiratisation jobs (WAM 09/08/2023)

• Emirates cabin crew numbers cross 20,000 and counting (WAM 09/08/2023)

• UAE Government approves federal decrees on regulations of healthcare professions (WAM 08/08/2023)

• Gender balance a long-standing priority for UAE, Manal bint Mohammed tells G20 ministerial conference (WAM 07/08/2023)

Abu Dhabi and Dubai trade, economy and investment news

• UAE Press: Abu Dhabi's tourism boost is working (WAM 14/08/2023)

• DEWA selects preferred bidder for 1,800MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Plant (WAM 13/08/2023)

• How sustainability is revolutionising the UAE’s real estate sector (Khaleej Times 13/08/2023)

• DCT Abu Dhabi revises tourism and municipality fees in hotels (WAM 12/08/2023)

• Dubai Suburban Police Points process over 3,488 smart transactions in H1 2023 (WAM 12/08/2023)

• $2.6b real estate transactions, with Palm Deira and World Island sales (Arabian Business 12/08/2023)

• Youth are an essential pillar for building a sustainable future: DoE Chairman (WAM 11/08/2023)

• Dubai records AED 9.7b in weekly real estate transactions (WAM 11/08/2023)

• 42 Abu Dhabi School opens applications for new students to unlock their coding potential (WAM 11/08/2023)

• PureHealth expands services by integrating National Rehabilitation Center into healthcare network (Abu Dhabi Media Office11/08/2023)

• du to triple data speed in UAE with adoption of new technology (Arabian Business 11/08/2023)

• Dubai rents jump over 20% in 2023 (Arabian Business 11/08/2023)

• Dubai Chamber of Commerce explores opportunities and challenges of nurseries (WAM 10/08/2023)

• UAE’s economy to continue its robust performance in 2023: OPEC monthly report (WAM 10/08/2023)

• VARA, DET to jointly establish best-in-class market assurance standards for virtual assets (WAM 10/08/2023)

• DCT Abu Dhabi, Air France-KLM partner to expand Europe-Abu Dhabi connectivity (WAM 10/08/2023)

• du achieves major milestone in next-generation 5G technology implementation (WAM 10/08/2023)

• Fitch reaffirms ECI’s ratings at 'AA-' with stable outlook for fifth consecutive year (WAM 10/08/2023)

• TDRA issues report titled ‘Digital UAE Factsheet’ (WAM 10/08/2023)

• Al Quoz Creative Entrepreneurship Forum to take place in November (WAM 10/08/2023)

• DM’s parks, facilities witness record-breaking total of over 15m visitors in H1 2023 (WAM 10/08/2023)

• Abu Dhabi stem cell therapy aims to treat the root of hair loss (The National 10/08/2023)

• 99% of population are active internet users, highest globally (Khaleej Times 10/08/2023)

• Dubai set to record busiest year for residential sector (Khaleej Times 10/08/2023)

• New fashion show coming to Dubai, aims to create ‘hub of style’ (Arabian Business 10/08/2023)

• Dubai Chamber of Digital Economy attracts 69 emerging tech companies in H1 2023 (WAM 09/08/2023)

• ADNOC Gas awards $3.6b contract to expand its gas processing infrastructure (WAM 09/08/2023)

• Dubai Taxi sector posts record 10% growth rate in trips for H1 2023 (WAM 09/08/2023)

• Etihad Airways ramps up winter schedule with new destinations, increased frequencies (WAM 09/08/2023)

• Abu Dhabi recognised as Middle East’s leading destination for MICE events (WAM 09/08/2023)

• Black Cobra and NFFSP ink MoU to design and manufacture military footwear (WAM 09/08/2023)

• Mubadala Energy's 2022 Sustainability Report signals focus on decarbonisation initiatives (WAM 09/08/2023)

• UAE Public Prosecution organises Global Summit for Metaverse Governance and Emerging Technology (WAM 09/08/2023)

• Dubai's non-oil economy strengthened on robust output expansion and new business (The National 09/08/2023)

• 6 benefits of buying property in Dubai (Khaleej Times 09/08/2023)

• Abu Dhabi villa prices rise 6% but still lower than 2014 market peak (Arabian Business 09/08/2023)

• Dubai luxury property market breaks another record as units sold skyrockets (Arabian Business 09/08/2023)

• DoE launches building safety inspections for liquefied petroleum gas systems (WAM 08/08/2023)

• Borouge, Borealis new sustainable automotive products made from up to 70% recycled materials (WAM 08/08/2023)

• DXB LIVE marks 20% business growth in H1 2023 (WAM 08/08/2023)

• ADNEC Services, Kenes Group partner to launch specialised conferences in Abu Dhabi (WAM 08/08/2023)

• Dubai International Chamber attracts six multinationals and 50 SMEs during H1 2023 (WAM 08/08/2023)

• 15th Abu Dhabi Art to showcase 92 galleries from 30+ countries (WAM 08/08/2023)

• Abu Dhabi City Municipality implores demolition firms to ensure safety at their sites (WAM 08/08/2023)

• Emirates Schools Establishment joins National ICV programme (WAM 08/08/2023)

• Why a second passport can be beneficial for UAE entrepreneurs (The National 08/08/2023)

• Adnoc Drilling on track to exceed 2022 earnings as it plans GCC expansion (The National 08/08/2023)

• MoCCAE signs MoU to create national system for carbon credits using blockchain (WAM 07/08/2023)

• Dubai Taxi Corporation launches digital transformation strategic plan 2022-2025 (WAM 07/08/2023)

• Abu Dhabi Public Health Centre launches 'Maternal and Child Health' programme (WAM 07/08/2023)

• 95% of federal court cases in Q1 2023 conducted remotely (WAM 07/08/2023)

• Abu Dhabi to host 2nd WorldSkills Asia competition in November (WAM 07/08/2023)

UAE Financial News

• UAE corporate tax: Will the one-size-fits-all approach work? (The National 14/08/2023)

• Presight AI’s second-quarter profit rises 4.5% on higher revenue (The National 12/08/2023)

• ADX’s profits total AED43b in one week, H1 results continue momentum (WAM 11/08/2023)

• Air Arabia reports record Q2 net profit of AED459m, up 187% (WAM 11/08/2023)

• ADNIC reports net profit of AED204.4m in H1 2023 (WAM 11/08/2023)

• Dubai's robust growth sees toll revenue at all-time high in Q2 2023 (Government of Dubai Media Office 11/08/2023)

• Dubai's Shuaa seeks to double assets to $10b in next five years (The National 11/08/2023)

• CBUAE imposes financial sanction on exchange house operating in the UAE (WAM 10/08/2023)

• DEWA reports revenue of AED12.7b in H1 2023 (WAM 10/08/2023)

• ADIB achieves strong growth with over £100m in UK Commercial Real Estate financing in H1 2023 (WAM 10/08/2023)

• Shuaa swings to first-half profit on revenue boost (The National 10/08/2023)

• Lulu to raise AED10b ahead of IPO in 2024 (Khaleej Times10/08/2023)

• Exchange house fined AED4.8m for violating anti-money laundering laws (Khaleej Times10/08/2023)

• Dana Gas reports AED304m net profit in H1 2023 (WAM 09/08/2023)

• Aramex reports resilient performance in H1 2023, despite challenging market conditions (WAM 09/08/2023)

• Amanat records H1 2023 profit of AED96m up 52% YoY (WAM 09/08/2023)

• CBUAE revokes licence of Dirham Exchange and registration of RMB Commercial Brokers Co (WAM 09/08/2023)

• GCC sovereign wealth funds' assets under management grow to $4t (The National 09/08/2023)

• Dubai's GDP grows 2.8% in Q1 2023 to reach AED111.3b (WAM 08/08/2023)

• Yahsat reports revenue of AED753 million in H1 2023 (WAM 08/08/2023)

• Eshraq Investments announces AED35.99m profit for Q2 2023 (WAM 08/08/2023)

• Dubai's GDP grows 2.8% in Q1 2023 to reach AED111.3b (Government of Dubai Media Office 08/08/2023)

UAE Mergers & Acquisitions News

• Multiply Group buys LVL Technology stake (WAM 12/08/2023)

UAE bilateral trade news

• Mohamed Al Hussaini meets with Iranian Ambassador (WAM 13/08/2023)

• UAE President and Iraqi PM discuss bilateral ties during phone call (WAM 12/08/2023)

• EDGE signs strategic agreement with Brazilian Aero Engine Developer, Turbomachine (WAM 11/08/2023)

• Kazakhstan keen to bolster joint investments with UAE: Kazakh Minister of Culture and Sports (WAM 11/08/2023)

• UAE explores partnerships with international institutions through meeting series in Washington (WAM 10/08/2023)

• Global Media Congress is good opportunity for Japanese media (WAM 10/08/2023)

• ENOC Group, ALSAYER partner to expand lubricants offering in Kuwait (WAM 10/08/2023)

• Abdullah bin Zayed, Armenian counterpart discuss bilateral relations (WAM 10/08/2023)

• ADFD finances AED387m project to enhance energy security in Tanzania (WAM 09/08/2023)

• UAE President receives written message from King of Morocco discussing bilateral ties (WAM 07/08/2023)

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

• National Media Office holds a media briefing to introduce the latest preparations for COP28 news (WAM 13/08/2023)

• COP28, Coursera partner to expand access to climate literacy education for global youth (WAM 11/08/2023)

• COP28 President-Designate visits Barbados, meets with Prime Minister, leaders of Caribbean Community to keep focus on reforming climate finance (WAM 11/08/2023)

• UAE worthy of hosting COP28 building on organisational expertise, energy transition achievements (WAM 10/08/2023)

• COP28 President-Designate stands with Brazil's President in call for protecting and investing in nature to deliver ambitious, just and equitable climate progress (WAM 09/08/2023)

• Minister of Climate Change announces study to help improve air quality (The National 08/08/2023)

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Written by Jenny Hunt

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

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