UAE Weekly Business News 15/05/23
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.
Simply scan through the headlines and choose the ones relevant to you. To read the full article, click the headline. The source is in purple for reference.
Don't miss it
The UAE Weekly Business News is published every Monday. Subscribe to our blog to receive it in your inbox automatically.
UAE Weekly Business News, Issue 136. 15th May 2023.
UAE free zones news headlines
FinTech growth 'helping DIFC to outpace' Dubai economic expansion (WAM 08/05/2023)
Abu Dhabi Expands its International Financial District Tenfold (ADGM 08/05/2023)
UAE employment, visa and Emiratisation news
UAE healthcare operator sets out Emirati nursing recruitment drive (The National 14/05/2023)
UAE tops the world in 5 labour market competitiveness indices, reinforces its global leadership (WAM 12/05/2023)
UAE presents labour market legislations to Human Rights Council (WAM 12/05/2023)
UAE ranked number 1 in world for talent attractiveness and more (Arabian Business 12/05/2023)
UAE Wages Protection System: One million employees added in 2022 (Arabian Business 11/05/2023)
Number of registered employees on UAE WPS increased to 5.2m in 2022 (WAM 10/05/2023)
Women in aviation on the rise with 27,000 women employed in UAE aviation sector, represent 42% of workforce (WAM 10/05/2023)
ADJD discusses development of strategic partnership with MoHRE (WAM 10/05/2023)
Joining new employer within 6 months of end of service key to benefit from 'Shourak': GPSSA (WAM 10/05/2023)
GCC businesses are not doing enough to close the gender pay gap (Arabian Business 10/05/2023)
UAE temporary work permit: How to apply, fees, all you need to know (Arabian Business 10/05/2023)
Dubai Women Establishment launches the 'Women on International Boards' Program (WAM 09/05/2023)
Everything you need to know about the UAE's unemployment insurance scheme (The National 09/05/2023)
UAE business and economy news
Could emirates vary in how they apply UAE corporate tax? (The National 15/05/2023)
UAE set to see massive influx of specialized accounting firms with new corporate tax to kick in from June (Arabian Business 15/05/2023)
Dubai retains No.1 global ranking for attracting Greenfield FDI projects (WAM 14/05/2023)
India Jewellery Exposition Centre launched in Dubai (WAM 14/05/2023)
DEWA’s smart and instant response helps to reduce 218,373 tonnes of carbon emissions (WAM 14/05/2023)
RTA launches trial operation of ‘First Autonomous Electric Abra’ (WAM 14/05/2023)
Dubai expands its beach tourism offering with the opening of three new beaches for night swimming (WAM 14/05/2023)
Dubai leads world in foreign investment projects with $12.8b, 38,500 jobs created (Arabian Business 14/05/2023)
Dubai on target for $82b real estate sales this year (Arabian Business 14/05/2023)
Dubai rents up 26%, property prices increase 14.5% (Arabian Business 14/05/2023)
UAE travel advisory: Emirates cancels flights to and from Khartoum (Khaleej Times14/05/2023)
Emirates Development Bank seeks to promote financial inclusion of SMEs (WAM 13/05/2023)
Dubai property prices and rents: Trends in April 2023 (The National 13/05/2023)
Adnoc Gas IPO was world’s largest in Q1 (Khaleej Times 13/05/2023)
etisalat by e& expands satellite service portfolio to the maritime sector (WAM 12/05/2023)
Khalifa University launches world's first solar-powered atmospheric water generator (WAM 12/05/2023)
Global Airport Leaders’ Forum urges operators to be future-ready with technology (WAM 12/05/2023)
Ministry of Energy and Infrastructure launches 'Blue Pass' project to boost maritime business cluster (WAM 12/05/2023)
Dubai records AED9.4b in weekly real estate transactions (WAM 12/05/2023)
Ministry of Economy, Presight to enhance UAE's attractiveness to FDI and support private sector (WAM 12/05/2023)
Phase 2 of Abu Dhabi's LED road lighting PPP tender reaches financial close (WAM 12/05/2023)
Ministry of Finance issues Explanatory Guide for corporate tax purposes (WAM 12/05/2023)
UAE spearheading pragmatic, realistic approach to decarbonization (WAM 12/05/2023)
Maktoum bin Mohammed meets with CEO of Accenture (WAM 12/05/2023)
UAE is at forefront to develop strategic framework for nursing, midwifery professions (WAM 12/05/2023)
'Our legislative system, control programmes make us a top country in agricultural pest preparedness': ADAFSA (WAM 12/05/2023)
Deadline for disclosing insurance companies' quarterly financial statements extended to June 2023 (WAM 12/05/2023)
Abu Dhabi Health Services Company (SEHA) inaugurates Sheikh Khalifa Medical City paediatric clinic dedicated to rheumatology-related eye disease (Abu Dhabi Media Office 12/05/2023)
Tuition fees revealed at Dubai schools for next academic year (The National 12/05/2023)
Dubai propels UAE to top global rankings in post-COVID FDI surge (Arabian Business 12/05/2023)
UAE Corporate Tax guide: Exemptions, rates, thresholds explained (Arabian Business 12/05/2023)
ADNOC L&S and SeaOwl sign agreement to design remotely operated marine supply vessels (WAM 11/05/2023)
Adnoc Distribution to install solar panels on service stations (WAM 11/05/2023)
Masdar, IRENA to collaborate on tripling global renewable energy capacity by 2030 (WAM 11/05/2023)
UAE's Ministry of Education and WEF to equip 1b people for labour market by 2030 (WAM 11/05/2023)
Energy and technology leaders meet in UAE to discuss hydrogen’s unanswered questions before COP28 (WAM 11/05/2023)
Sorbonne University Abu Dhabi launches its Youth COP (WAM 11/05/2023)
UAE at forefront of global crisis management, experts agree at CEMS Abu Dhabi (WAM 11/05/2023)
e& and Vodafone form strategic relationship across Europe, Middle East, and Africa (WAM 11/05/2023)
ADNOC launches $1 million Decarbonisation Technology Challenge (WAM 11/05/2023)
Ministry of Finance issues decision on transfer pricing documentation requirements for corporate tax (WAM 11/05/2023)
UAE tops global 2023 rankings in five indexes related to energy, water, infrastructure and transport (WAM 11/05/2023)
Establishment of Sustainable Water Solutions Holding Company (SWS Holding) to Achieve Circular Economy Ambitions in the UAE and abroad (Abu Dhabi Media Office 11/05/2023)
UAE to focus on circular economy to double GDP growth by 2031 (The National 11/05/2023)
Emirates creates $200m aviation sustainability research fund (The National 11/05/2023)
UAEFTS processed 74.5m transactions in 2022 (WAM 10/05/2023)
Dubai Land Department launches ‘Real Estate Innovation Incubator’ initiative to attract emerging international companies (WAM 10/05/2023)
Annual Investment Meeting highlights digital transformation, financial inclusion in the Arab World (WAM 10/05/2023)
Maktoum bin Mohammed meets with Chairman and CEO of Morgan Stanley (WAM 10/05/2023)
UAE’s Islamic Treasury Sukuk achieves bids worth AED8.3b and an over subscription of 7.6 times (WAM 10/05/2023)
CBUAE's robust policy framework supports financial stability: Mansour bin Zayed (WAM 10/05/2023)
UAE ministers and officials prioritize acceleration of climate action as strategic goal (WAM 10/05/2023)
Barakah: A key player in energy security, sustainability (WAM 10/05/2023)
UAE achieving rapid progress in solar energy projects, march towards zero greenhouse gas emissions (WAM 10/05/2023)
MoIAT accelerates industrial decarbonization through ITTI expansion (WAM 10/05/2023)
UAE leads international, Arab rankings in attracting investments (WAM 10/05/2023)
Abu Dhabi receives more than 700,000 cruise visitors (WAM 10/05/2023)
ADNOC announces intention to float 15% minority stake in ADNOC Logistics & Services on ADX (WAM 10/05/2023)
Ministry of Finance issues Ministerial Decision on exempt persons for corporate tax purposes (WAM 10/05/2023)
Standard Chartered to launch Digital Asset Custody Services in UAE (WAM 10/05/2023)
CBUAE issues its 2022 Annual Report on monetary, financial stability (WAM 10/05/2023)
UAE inflation expected to fall this year, Central Bank says (The National 10/05/2023)
Metaverse could add $55bn to economies of Saudi Arabia and UAE by 2035 (The National 10/05/2023)
UAE corporate tax: Ministry issues decision on exemptions (The National 10/05/2023)
Adio to open more offices globally to attract investors to Abu Dhabi (The National 10/05/2023)
Air traffic control systems at Dubai airports to be upgraded with AI (The National 10/05/2023)
UAE VP announces digital transformation of Central Bank (Khaleej Times 10/05/2023)
UAE economy hits one of fastest growth rates in the world, says Central Bank (Khaleej Times 10/05/2023)
UAE installs smart speed limit boards in vital areas (Arabian Business 10/05/2023)
UAE business leaders want robots to make their decisions, says study (Arabian Business 10/05/2023)
UAE plans 800 electric vehicle charging outlets (Arabian Business 10/05/2023)
Harnessing the power of clean energy in GCC (Arabian Business 10/05/2023)
The UAE’s CBDC ambitions could provide a test bed for future global adoption
UAE GDP up 7.6%, nine-month surplus of $46b (Arabian Business 10/05/2023)
UAE researching new legislation on EV charging stations (WAM 09/05/2023)
MBZUAI and OurCrowd Arabia sign MoU to drive funding for AI startups and research (WAM 09/05/2023)
EWEC to conduct its Q2 2023 Clean Energy Certificates auction (WAM 09/05/2023)
Why Abu Dhabi's financial centre is getting room to grow (WAM 09/05/2023)
Executive Office of Anti-Money Laundering and Counter Terrorism Financing concludes review of progress (WAM 09/05/2023)
Dubai ideal for financial firms to advance growth: Maktoum bin Mohammed (WAM 09/05/2023)
Abu Dhabi Energy Department implements demand side management regulations from 1st July (WAM 09/05/2023)
EAD completes measurements of City Biodiversity Index (WAM 09/05/2023)
DXB Q1 traffic reaches 95.6% of 2019 levels with 21.2m passengers (WAM 09/05/2023)
Abu Dhabi fastest-growing economy in MENA Region with GDP growth rate of 9.3% in 2022 (WAM 09/05/2023)
Dubai airport on track to exceed pre-Covid passenger traffic (The National 09/05/2023)
Dubai's non-oil economy hits eight-month high on stronger sales and new order boost (The National 09/05/2023)
UAE trust in government among highest in world, survey finds (The National 09/05/2023)
Crypto Oasis Ecosystem Report 2023 identifies 1,800+ organisations in the thriving UAE Web3 space (Khaleej Times 09/05/2023)
UAE issues important notice for designated non-financial businesses, professions (Arabian Business 09/05/2023)
UAE one of the most trusted countries in the world: Edelman Trust Barometer (Arabian Business 09/05/2023)
Mariam Almheiri highlights global food system innovations during Agriculture Innovation Mission for Climate Summit (WAM 08/05/2023)
ENEC showcases substantial contribution of nuclear energy to achieving UAE Net Zero at World Utilities Congress (WAM 08/05/2023)
ADAFSA signs agreement with Hub71 to support development of Agri-Tech innovations (WAM 08/05/2023)
UAE is a global platform for shaping future of emergency and crisis management: Tahnoun bin Zayed (WAM 08/05/2023)
DCT Abu Dhabi and Abu Dhabi Residents Office sign MoU to attract and retain global top talent in emirate (WAM 08/05/2023)
Mansoor bin Mohammed highlights efforts to reinforce Dubai’s status as a global sports hub (WAM 08/05/2023)
ADIB appointed primary dealer by Federal Treasury Sukuk Programme (WAM 08/05/2023)
FinTech can help UAE achieve 7% annual growth to support its 2031 target to double economy (The National 08/05/2023)
Etihad Rail update: Network complete, commercial operations begin (Arabian Business 08/05/2023)
From disruption to opportunity: The impact of AI on GCC localisation initiatives (Arabian Business 08/05/2023)
UAE, Saudi India railway: US reveals new initiative to create major rail network (Arabian Business 08/05/2023)
Etihad announces Abu Dhabi to Lisbon flights (Arabian Business 08/05/2023)
UAE Mergers & Acquisitions news
Alpha Dhabi acquires National Corporation for Tourism and Hotels for $199m (WAM 11/05/2023)
PureHealth acquires AED1.8b stake in Ardent Health Services (Abu Dhabi Media Office 08/05/2023)
UAE Financial Results
TAQA Group reports AED11.6b net income for Q1 2023 (WAM 15/05/2023)
Dubai Investments Q1 2023 profit surges 55% to AED314.4m (WAM 12/05/2023)
ADNOC Distribution reports AED551m in quarterly net profit (WAM 12/05/2023)
Salik reports AED275m in Q1 net profit (WAM 12/05/2023)
Tabreed reports AED236.4m in net profit during Q1 2023 (WAM 12/05/2023)
Waha Capital reports Q1 2023 net profit of AED148m (WAM 12/05/2023)
IHC posts 20.5% rise in Q1 net profit to AED4.3b (WAM 12/05/2023)
UAE's Royal Group looking at opportunities in US market (WAM 12/05/2023)
Emaar records 43% growth in net Q1-23 profit (WAM 11/05/2023)
Emaar Development records 26% growth in sales (WAM 11/05/2023)
Aramex reports gross profit increase of 4% YoY in Q1 2023 (WAM 11/05/2023)
ADNOC Gas reports Q1 2023 net income of $1.3b, up 9% YoY (WAM 11/05/2023)
Amanat Holdings posts 24% jump in Q1 profit on revenue growth (The National 11/05/2023)
Adnoc Drilling records 25% rise in Q1 profit on revenue boost (The National 11/05/2023)
Al Ansari first-quarter net profit up on operating income boost (The National 11/05/2023)
Dana Gas reports AED183m net profit in Q1 2023 (WAM 10/05/2023)
Union Properties delivers net profit of AED12.3m in Q1 2023 (WAM 10/05/2023)
ADNIC reports first quarter 2023 net profit of AED99.7m (WAM 10/05/2023)
Dubai developer Deyaar more than doubles first-quarter net profit on property boom (The National 10/05/2023)
Agthia Group reports AED97m in first-quarter net profit (WAM 09/05/2023)
Burjeel Holdings reports strong Q1-23 net profit growth of 43.4% (WAM 09/05/2023)
CBI net profit increases by 65% to AED34m in Q1 2023 (WAM 09/05/2023)
Fertiglobe reports Q1 2023 revenues of $694m (WAM 09/05/2023)
Yahsat reports AED369m in record Q1-23 revenues (WAM 08/05/2023)
Air Arabia reports first quarter 2023 net profit of AED342m, up 17% (WAM 08/05/2023)
DEWA achieves phenomenal financial results in Q1, 2023 (WAM 08/05/2023)
UAE bilateral trade news
UAE participates in Annual Meetings of Islamic Development Bank Group (WAM 14/05/2023)
Oman and Etihad Rail Company signs MoU with Vale to transport products from Sohar Port to regional markets (WAM 13/05/2023)
UAE-French relations significantly growing (WAM 12/05/2023)
JAFZA cements growing trade relationship with India following CEPA launch (WAM 12/05/2023)
Sultan Al Jaber leads UAE delegation at GCC industry meetings (WAM 12/05/2023)
Abdullah bin Zayed, Singaporean Senior Minister discuss strengthening ties (WAM 12/05/2023)
UAE Ambassador meets Norwegian Minister of Foreign Affairs (WAM 12/05/2023)
UAE and USA hold third session of their joint consular committee (WAM 12/05/2023)
UAE President, French President hold talks to further strengthen strategic partnership (WAM 11/05/2023)
Presidential visit reflective of robust strategic partnerships between UAE, France (WAM 11/05/2023)
French investors trade in Emirati stocks hit AED726.2m in 2022 (WAM 11/05/2023)
Dubai Chambers inaugurates Sydney office, signs trade-boosting MoU with Australia Arab Chamber (WAM 11/05/2023)
Abu Dhabi and AIM join hands with Chinese companies to establish a fund to attract capital-rich companies to the city (WAM 11/05/2023)
UAE, France trade grew 17%, reached AED29.5b in 2022 (WAM 11/05/2023)
UAE, France: A new global model of low-emission economic growth (WAM 11/05/2023)
UAE and France: history of strong partnership across multiple sectors (WAM 11/05/2023)
US Department of Energy Assistant Secretary for Office of Nuclear Energy visits Barakah Nuclear Energy (WAM 11/05/2023)
Mariam Almheiri discusses ways to enhance Emirati-American relations in investment, food security, climate, other vital cooperation files (WAM 11/05/2023)
Russian Minister highlights UAE's industrial cooperation and investment opportunities (WAM 11/05/2023)
US President expresses gratitude to UAE for Joint efforts in advancing 'Agriculture Innovation for Climate@ initiative (WAM 10/05/2023)
UAE signs MoUs with six countries to promote values of tolerance and peaceful co-existence (WAM 10/05/2023)
Thani Al Zeyoudi holds bilateral talks with ministers and senior government officials to explore high-potential new markets (WAM 10/05/2023)
Al Sayegh meets Portuguese Secretary of State for International Trade and Foreign Investment (WAM 10/05/2023)
Record-breaking Indian tea exports to UAE, UK and Poland (WAM 10/05/2023)
Dubai Chamber of Digital Economy welcomes Palestinian Digital Business delegation (WAM 10/05/2023)
UAE global leader in luring investors: Lebanese minister (WAM 09/05/2023)
UAE and Malta exchange experiences in research, innovation and government modernisation (WAM 09/05/2023)
UAE, Thailand agree to launch CEPA negotiations (WAM 09/05/2023)
Minister of Climate Change and Environment announces UAE's participation in UK's Agriculture Breakthrough Initiative (WAM 09/05/2023)
UAE's economy developing thanks to its global openness: Arab League Chief (WAM 09/05/2023)
UAE, Tajikistan sign air transport services agreement (WAM 09/05/2023)
UAE participates in the 68th meeting of GCC Undersecretaries of Ministries of Finance Committee (WAM 09/05/2023)
Mensha Ventures signs MoU with China to bolster UAE's sustainable capabilities (WAM 09/05/2023)
Finoverse's Dubai office likely to boost blockchain co-operation between UAE and Hong Kong (The National 09/05/2023)
India seeks investments from Abu Dhabi Investment Authority, Mubadala (Arabian Business 09/05/2023)
Arab Federation for Digital Economy, Union of Arab Chambers sign cooperation agreement (WAM 08/05/2023)
UAE-Congolese relations steadily developing (WAM 08/05/2023)
Abdullah bin Zayed, Hungarian Foreign Minister discuss consolidating cooperation, partnership (WAM 08/05/2023)
UAE-India CEPA driving industrial output, heralding new era of prosperity (WAM 08/05/2023)
If you find this resource informative and helpful,
please show your appreciation by clicking the ❤️ at the bottom of this page.
Thank you.
Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi & Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East
Comments