UAE Weekly Business News 20/02/23

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 124. 20th February 2023.

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

• Registering Emirati employees in private sector on pension, social security systems 'mandatory’ for companies: MOHRE (WAM 16/02/2023)

• GPSSA’s inspection campaign aims to correct practices rather than release violations (WAM 16/02/2023)

• Abu Dhabi Labour Court adopts new arrangements to pay workers' entitlements in record time (WAM 16/02/2023)

• Abu Dhabi launches 'Hub71+ Digital Assets' to accelerate growth of Web3 startups (WAM 15/02/2023)

• ILO recognises UAE’s reforms to improve social protection (WAM 14/02/2023)

• Latifa bint Mohammed witnesses ‘She Wins Arabia’ initiative to empower women entrepreneurs (WAM 14/02/2023)

UAE bilateral trade news headlines

• Mansour bin Zayed meets with President of Turkmenistan (WAM 19/02/2023)

• Abu Dhabi delegation to Israel explores innovation, business opportunities (WAM 19/02/2023)

• DEWA CEO discusses bilateral cooperation with a high-level delegation from Emerson (WAM 19/02/2023)

• UAE, India mark first anniversary of signing CEPA with series of events (WAM 18/02/2023)

• India’s IIT to open first overseas campus in Abu Dhabi (The National 18/02/2023)

• UAE-India trade grows 10% in the first year of Cepa deal (The National 18/02/2023)

• Al Zeyoudi meets delegation from Conference of Presidents of Major American Jewish Organisations (WAM 17/02/2023)

• DEWA CEO discusses cooperation with France’s satellite operator Eutelsat (WAM 17/02/2023)

• UAE participates in Conference of WMO’s Regional Association I in Ethiopia (WAM 17/02/2023)

• UAE and Egypt sign MoU to fight money laundering and terrorist financing (WAM 16/02/2023)

• WLP signs MoUs with Thai’s Logistics Service Provider and National Shippers to promote logistics (WAM 16/02/2023)

• Kyrgyzstan supports UAE’s initiatives for COP28 (WAM 16/02/2023)

• UAE, Romania to enhance investment exchanges in technology, transportation, logistics & food (WAM 16/02/2023)

• Abu Dhabi Chamber, India's FICCI explore new areas of collaboration (WAM 16/02/2023)

• Edge entity Al TARIQ signs MoU with Bharat Dynamics (WAM 16/02/2023)

• FCCI, Algerian Embassy discuss economic cooperation (WAM 15/02/2023)

• EDGE entity AL TARIQ signs MoU with HAL for platform integration (WAM 15/02/2023)

• First Middle East LNG Cargo to Germany successfully delivered by ADNOC (WAM 15/02/2023)

• UAE Gender Balance Council explores ways to boost partnership with World Economic Forum (WAM 15/02/2023)

• Mira initiative plants seeds of hope for underprivileged farmers in Afghanistan (WAM 15/02/2023)

• Hamdan bin Mohammed meets with CEO of Japan’s Rakuten Group (WAM 15/02/2023)

• UAE President receives PM of Libya’s Government of National Unity (WAM 15/02/2023)

• Women in Government Forum hosts panel discussion on ‘Powering the Future by Her’ (WAM 15/02/2023)

• Mohammed bin Rashid meets with Prime Minister of Azerbaijan (WAM 15/02/2023)

• Mohammed bin Rashid meets with President of Seychelles (WAM 15/02/2023)

• UAE Food Bank partners with Regional Food Banks Network to save food from wastage, spoilage (WAM 15/02/2023)

• UAE President receives message from President of Costa Rica (WAM 15/02/2023)

• UAE Foreign Minister meets US counterpart, senators in Washington (WAM 15/02/2023)

• Gargash meets British delegation, explores cooperation (WAM 15/02/2023)

• Saif bin Zayed meets with Global General Counsel of TikTok (WAM 15/02/2023)

• UAE, Kuwait announce linkage of traffic systems (WAM 15/02/2023)

• Saif bin Zayed meets Prime Minister of Iraqi Kurdistan Regional Government (WAM 15/02/2023)

• ADFD, UNIDO discuss joint efforts to drive sustainable development (WAM 15/02/2023)

• UAE President receives Chairman of Transitional Sovereignty Council of Sudan (WAM 14/02/2023)

• World Government Summit launches ‘Governing the Metaverse’ report to unlock vast Web3 potential (WAM 14/02/2023)

• Costa Rica’s Foreign Minister in cooperation talks with Abu Dhabi Fund for Development on sustainable projects (WAM 14/02/2023)

• Saif bin Zayed, Rwandan Prime Minister launch UAE-Rwanda partnership to exchange government experience (WAM 14/02/2023)

• UAE pension authority participates in workshop held in Riyadh to exchange expertise (WAM 14/02/2023)

• Saif bin Zayed meets Secretary of Interior and Local Government of Philippines (WAM 14/02/2023)

• Mohammed bin Rashid meets with Secretary-General of Gulf Cooperation Council (WAM 14/02/2023)

• Mohammed bin Rashid meets with Tunisian PM (WAM 14/02/2023)

• Mohammed bin Rashid meets with PM of Albania (WAM 14/02/2023)

• UAE, Jordan, Egypt and Bahrain to sign multimillion-dollar industrial agreements (The National 14/02/2023)

• Mohammed bin Rashid meets with the President of Paraguay (WAM 13/02/2023)

• WGS, Bain and Company issue a report on 'The Working Future: A Focus on the GCC’ (WAM 13/02/2023)

• Mohammed bin Rashid and Georgia’s Prime Minister witness the signing of an agreement to enhance cooperation in government excellence (WAM 13/02/2023)

• Hamdan bin Mohammed meets with Meta’s President for Global Affairs (WAM 13/02/2023)

• UAE Ambassador meets Yemeni Prime Minister (WAM 13/02/2023)

• Mohammed bin Rashid meets with Prime Minister of Kuwait (WAM 13/02/2023)

• Mohammed bin Rashid meets with Egyptian President (WAM 13/02/2023)

• Mohammed bin Rashid meets with WTO Director-General (WAM 13/02/2023)

• WGS, McKinsey & Company launch ‘Skills Revolution and Future of Learning and Earning’ report (WAM 13/02/2023)

• TDRA releases Arabic version of UN's E-Government Survey at WGS 2023 (WAM 13/02/2023)

• GCC benefitting from 'relentless' economic reforms besides high oil prices, IMF chief says (The National 13/02/2023)

UAE business and economy-related news headlines

• Why Dubai's Jumeirah Village Circle is booming right now (The National 20/02/2023)

• Hamdan bin Mohammed approves updated model for government excellence in Dubai (WAM 19/02/2023)

• Dubai’s Department of Economy and Tourism takes part in Gulfood 2023 (WAM 19/02/2023)

• International Defence Conference panel discussions address strategic, crucial topics for defence, security (WAM 19/02/2023)

• Dubai Can initiative cuts single-use plastic bottle usage by over 7m (WAM 19/02/2023)

• Dubai Chamber of Digital Economy drives conversation on state of e-commerce market (WAM 19/02/2023)

• KEZAD Group enhances UAE vision for food security via largest integrated hub (WAM 19/02/2023)

• Federal Tax Authority releases UAE PASS feature on EmaraTax platform (WAM 19/02/2023)

• UAE Aviation industry set for new addition with SDF’s announcement of 'HelioTech' (WAM 19/02/2023)

• IDEX real opportunity to review UAE's development: Secretary-General of Tawazun Council​ (WAM 18/02/2023)

• IDEX offers promising economic and defence opportunities (WAM 18/02/2023)

• IDEX’s organisation reflects the strength of the UAE’s infrastructure and expertise (WAM 18/02/2023)

• NAVDEX provides an opportunity to showcase the latest in Maritime Defence (WAM 18/02/2023)

• IDEX, NAVDEX embody the UAE’s concept of soft power (WAM 18/02/2023)

• IDEX, NAVDEX provide promising prospects for development of national defence industries, diversification of national economy (WAM 18/02/2023)

• IDEX: 30 years of achievements and success (WAM 18/02/2023)

• IDEX reflects a new chapter of UAE's excellence, leadership and success (WAM 18/02/2023)

• Dubai records AED10.4b in weeklong real estate transactions (WAM 17/02/2023)

• Breakbulk Middle East 2023 hosts 100% more attendees than its previous edition (WAM 17/02/2023)

• Gross subscriptions written reaches AED4.35 billion for Takaful insurance sector in 2021: CBUAE (WAM 17/02/2023)

• ADNOC announces intention to float 4% minority stake in ADNOC Gas on ADX (WAM 17/02/2023)

• Food delivery robots hit the streets of Dubai (The National 17/02/2023)

• EDGE’s Naval Arm ADSB holds keel laying ceremony for first FALAJ3 vessel (WAM 16/02/2023)

• Written premiums for listed insurance companies total over AED29b in 2022 (WAM 16/02/2023)

• Etihad to launch new flights connecting Abu Dhabi, Lisbon on 2 July 2023 (WAM 16/02/2023)

• Wizz Air Abu Dhabi inaugurates new route to Saudi, enhances regional connectivty (WAM 16/02/2023)

• MoIAT forms Industrial Sustainability Alliance (WAM 16/02/2023)

• Investopia, Mubadala sign strategic partnership (WAM 16/02/2023)

• Hamdan bin Mohammed inaugurates world’s largest solar-powered data centre (WAM 16/02/2023)

• Abu Dhabi University to integrate GPT-3 on its data and services (WAM 16/02/2023)

• DMCC announces 17% diamond trade growth in 2022 (WAM 16/02/2023)

• Dubai Future Foundation signs agreement to launch Senseable City Lab (WAM 16/02/2023)

• UAE Press: Increasing food security with desert crops is no novelty project (WAM 16/02/2023)

• UAE's Sultan Al Neyadi gears up for space mission (The National 16/02/2023)

• UNIDO to launch International Centre for Industry Readiness in Abu Dhabi (WAM 15/02/2023)

• Digital School, Emirates Red Crescent establish AED100 million fund supporting digital education projects (WAM 15/02/2023)

• Brooge Energy partners with Siemens Energy to develop Green Hydrogen and Ammonia Plant in Abu Dhabi (WAM 15/02/2023)

• UAE launches 'Industrial Technology Transformation Index' to drive digitalisation and sustainability (WAM 15/02/2023)

• UAE AI Office partners with Vista to advance digital economy (WAM 15/02/2023)

• Expo City Dubai’s ‘Hai Ramadan’ to celebrate holy month with 50-plus days of festivities (WAM 15/02/2023)

• Tadweer, LanzaTech to explore collaboration on conversion of waste to alternative fuels (WAM 15/02/2023)

• UAE unveils second Industry 4.0 Enablement Centre ‘District 4.0’ (WAM 15/02/2023)

• Lockheed Martin’s UAE interns to unveil AI-powered solution for aircraft engine inspection at IDEX (WAM 15/02/2023)

• Qatar World Cup and Dubai Expo success provides blueprint for regional mega events (The National 15/02/2023)

• World's biggest R&D vertical farm opens in Abu Dhabi to seed the future of food (The National 15/02/2023)

• Abu Dhabi’s economy shows fastest growth rates in MENA region at 10.5% (WAM 14/02/2023)

• UAE has adopted excellence and quality as a way of life in all government sectors: Saif bin Zayed (WAM 14/02/2023)

• flydubai launches daily flights to Mogadishu from 9 March (WAM 14/02/2023)

• Hamdan bin Mohammed launches Dubai Future Readiness Index during World Government Summit 2023 (WAM 14/02/2023)

• Dubai Municipality holds dialogue sessions on design development in global cities (WAM 14/02/2023)

• Masdar City a global model for sustainable urban development (WAM 14/02/2023)

• Dubai Future Foundation unveils 50 new future opportunities during WGS 2023 (WAM 14/02/2023)

• Dubai Municipality, DEWA sign agreement to buy electricity from Dubai Waste Management Centre (WAM 14/02/2023)

• Abu Dhabi Fund for Development, IFC to finance sustainable private sector projects (WAM 14/02/2023)

• UAE and Saudi Arabia drive GCC's 'significant improvement' in economic diversification (The National 14/02/2023)

• Aramex completes testing of drone and bot delivery service in Dubai (The National 14/02/2023)

• Abu Dhabi launches programme to boost procurement opportunities for SMEs (The National 14/02/2023)

• Dubai Municipality, PMI sign MoU with to develop HR capabilities in project management (WAM 13/02/2023)

• DEWA, ENOC sign MoU to develop, operate hydrogen-based mobility pilot project (WAM 13/02/2023)

UAE Mergers & Acquisitions

• EDGE expands its portfolio by acquiring GRADEONE (WAM 17/02/2023)

• EDGE acquires majority stake in Europe’s leading developer of robotics 'Milrem Robotics' (WAM 15/02/2023)

• ADNOC distribution completes acquistion of 50% stake in TotalEnergies Marketing Egypt (WAM 15/02/2023)

• Alabbar’s Noon completes acquisition of fashion retailer Namshi (The National 13/02/2023)

UAE Financial Results

• United Arab Bank reports financial results for 2022 (WAM 17/02/2023)

• Earnings of 123 listed Emirati companies total AED191b in 2022 (WAM 16/02/2023)

• Listed real estate companies double earnings in 2022 (WAM 16/02/2023)

• Revenues of Zakat Fund reached AED250.6m in 2022 (WAM 16/02/2023)

• Emaar announces record property sales of AED 35.1b (WAM 15/02/2023)

• AD Ports Group's 2022 financial results reveal 41% revenue growth to AED 5.5b (WAM 15/02/2023)

• Tabreed's 2022 net income climbs 3% on revenue boost (The National 15/02/2023)

• Amanat's adjusted 2022 net profit up 14% to $32m (The National 15/02/2023)

• Shuaa Capital more than doubles Q4 profit on 'strategic transformation' (The National 15/02/2023)

• du records AED1.22b in net profit during 2022 (WAM 14/02/2023)

• SALAMA's 2022 preliminary net profit reaches AED45.27m (WAM 14/02/2023)

• TAQA Group reports year 2022 net income of AED8b (WAM 14/02/2023)

• ADNIC reports full year 2022 net profit of AED377.9m (WAM 14/02/2023)

• IHC's 2022 net profit almost tripled on revenue boost (The National 14/02/2023)

• Americana reports 27% jump in 2022 net profit on revenue boost (The National 14/02/2023)

• Dubai developer Union Properties swings to $8m profit in 2022 (The National 14/02/2023)

• Fertiglobe reports 78% rise in 2022 net profit on higher fertiliser selling prices (The National 14/02/2023)

• Air Arabia delivers record 2022 net profit of AED1.2b (WAM 13/02/2023)

• RAKBANK delivers highest annual profit growth of 53.4% YoY in over decade (WAM 13/02/2023)

• top (The National 13/02/2023)

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Written by Jenny Hunt

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

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