UAE Weekly Business News 20/05/2024

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UAE Weekly Business News: Issue 189 published 20th May 2024.
UAE FREE ZONE NEWS
Masdar City chosen as Middle East HQ for Attentive Science (WAM 17/05/2024)
DIFC bolstered its brokered premiums by 61% YoY in 2023 (WAM 16/05/2024)
PCFC issued over 800,000 security passes in Q1 2024 (WAM 16/05/2024)
Singapore headquartered digital asset custody provider Liminal secures key ADGM FSP license (Arabian Business 14/05/2024)
‘New Golden Spike’ to establish new manufacturing facility in KEZAD (WAM 13/05/2024)
UAE VISA NEWS (inc. employment, Emiratisation, human resources, training and women)
What to wear in the office: Smart casual, T-shirts, sneakers take over but experts warn of compromised professionalism (Arabian Business 20/05/2024)
DGHR approves grievances and complaints system within Dubai’s military departments (Government of Dubai Media Office 19/05/2024)
(GDRFA) signs MoU with Dubai Women Establishment (Government of Dubai Media Office 19/05/2024)
‘Can I travel out of the UAE without an Emirates ID?' (The National 19/05/2024)
UAE: How can employee switch to Golden Visa through property investment in Dubai? (Khaleej Times 19/05/2024)
UAE announces $27,200 fines over fake Emiratisation (Arabian Business 19/05/2024)
Emirati Human Resources Development Council offer 50 private sector job opportunities for Emiratis (WAM 18/05/2024)
New 10-year UAE visa: Who can apply for blue residency and how? (Khaleej Times 18/05/2024)
Resorts World announces Dubai to Doha and Muscat cruises; 150,000 passengers expected (Arabian Business 18/05/2024)
The UAE's new visa offers a real return on investment (The National 17/05/2024)
UAE Blue Residency: How new 10-year visa will attract talent, boost construction, aid real estate and support environment (Arabian Business 17/05/2024)
Abu Dhabi Centre for Technical and Vocational Education and Training partners with Nafis to upskill female UAE National talent in health sector (WAM 16/05/2024)
What is the UAE's blue visa and who can apply? (The National 16/05/2024)
Most sought-after UAE technology jobs and how much they pay (The National 16/05/2024)
Emirati workforce 'can help plug healthcare staff shortage' (The National 16/05/2024)
UAE jobs: Emirates announces cabin crew vacancies for residents (Khaleej Times 16/05/2024)
Abu Dhabi to ease visa applications with new TB screening process (Khaleej Times 16/05/2024)
Blue residency visa in UAE: Expats say new 10-year permit rewards efforts to save planet (Khaleej Times 16/05/2024)
Emirates cabin crew jobs in Dubai: Salary, benefits, perks and how to apply for exclusive UAE recruitment events (Arabian Business 17/05/2024)
'Blue Residency' further cements UAE’s role as a global leader in sustainability: Sultan Al Jaber (WAM 15/05/2024)
Approval of Blue Residency enhances climate action, community’s contribution to preserving environment: Amna Al Dahak (WAM 15/05/2024)
UAE Cabinet approves 10-year Blue Residency visa for environment champions (The National 15/05/2024)
UAE witnesses surge in nursing course enrolments post-pandemic (Khaleej Times 15/05/2024)
UAE announces new 10-year Blue Visa (Arabian Business 15/05/2024)
UAE recruiters seeing strong hiring demand into summer months (The National 14/05/2024)
How to apply for Golden Visa as a student; process explained (Khaleej Times 14/05/2024)
Volunteering in UAE can get you a Golden Visa; here's where to apply (Khaleej Times 14/05/2024)
UAE jobs: Office peacocking, coffee badging among new tactics to lure employees back to office (Arabian Business 14/05/2024)
What roles are Emiratis being hired for in the private sector? (The National 13/05/2024)
Middle East CEOs, leaders most concerned about talent issues: Report (Arabian Business 14/05/2024)
UAE BUSINESS NEWS
UAE airports welcome 36.5 million passengers in Q1 2024 (WAM 20/05/2024)
CABSAT 2024 to kick off tomorrow in Dubai (WAM 20/05/2024)
Integrate Middle East’s 2nd edition starts tomorrow in Dubai (WAM 20/05/2024)
ADNOC Drilling awarded AED6.24b contract to unlock UAE’s unconventional energy resources (Abu Dhabi Media Office 19/05/2024)
Abu Dhabi Mobility completes retrofit project to enhance clean energy systems at Sheikh Zayed Tunnel (Abu Dhabi Media Office 19/05/2024)
Future of UAE luxury resorts: What do young tourists want? (Khaleej Times 19/05/2024)
Emirates to launch extra Dubai to Vietnam flights in 2025 (Arabian Business 19/05/2024)
Nahyan bin Zayed inaugurates Burjeel Day Surgery Centre in Al Ain (WAM 18/05/2024)
DoH accredits Burjeel Holdings’ facilities as specialised centres in Orthopaedic Care (WAM 18/05/2024)
DoH, International Federation for Emergency Medicine partner to advance emergency medicine (WAM 17/05/2024)
Latifa bint Mohammed inaugurates Expo 2020 Dubai Museum (WAM 17/05/2024)
Mubadala Investment plays pivotal role in strengthening UAE's progress, national economy: Mansour bin Zayed (WAM 17/05/2024)
UAE e-commerce market to reach AED48.8b by 2028 (WAM 17/05/2024)
Dubai Land Department launches initiative for real estate technology (WAM 17/05/2024)
UAE hopes to create healthcare blueprint for world to follow (The National 17/05/2024)
UAE proptech giant Keyper secures $34m in funding (Arabian Business 17/05/2024)
Dubai real estate: Q1 sales hit $24bn as off-plan investments thrive, top-performing areas revealed (Arabian Business 17/05/2024)
Tourism boom drives short-term rental conversions as demand skyrockets (Arabian Business 17/05/2024)
Abu Dhabi’s Anjal Z Techstars accelerator programme seeks participation from startups in early childhood development sector (Arabian Business 17/05/2024)
UAE Blue Residency Visa to trigger real estate price hike, investment boom as Dubai tops FDI flows (Arabian Business 17/05/2024)
Imperial College London Diabetes Centre offers travellers with chronic kidney disease access to dialysis in Abu Dhabi (WAM 16/05/2024)
Dubai International Chamber attracts eight multinational companies to emirate during Q1 2024 (WAM 16/05/2024)
Miral and Emirates NBD announce partnership (WAM 16/05/2024)
UAE Sports For All Federation signs MoU with Everest Sports for joint sports projects (WAM 16/05/2024)
ADNOC sets new industry standard at Ras Al Sadr (WAM 16/05/2024)
Emirates to resume Nigeria flights, ending two-year suspension (The National 16/05/2024)
Al Ghurair's new Abu Dhabi poultry farm to boost UAE food supply chain (The National 16/05/2024)
Dubai office market records significant upsurge in Q1 2024, according to Savills (Arabian Business 16/05/2024)
Sustainable Indian fashion brand Styched begins international expansion with UAE debut (Arabian Business 16/05/2024)
Hyperfusion launches GPU AI servers in UAE to drive innovation, security (Arabian Business 16/05/2024)
KPMG launches ‘Blue Wave’ to uplift blue-collar workers in UAE (Arabian Business 16/05/2024)
Hamdan bin Mohammed approves MBZ-SAT for launch (WAM 15/05/2024)
UAE President receives Ruler of Ras Al Khaimah (WAM 15/05/2024)
startAD, Department of Health – Abu Dhabi launch HealthX to advance Abu Dhabi as global biotech, life sciences hub (WAM 15/05/2024)
AlOlama presents future visions of AI intelligence, its applications in benefiting society at Digital Readiness Retreat (WAM 15/05/2024)
Digital Readiness Retreat explores developing digital business models for government; launches State of Digital Transformation Report (WAM 15/05/2024)
Department of Health - Abu Dhabi partners with M42, AstraZeneca to combat breast cancer with new research platform (WAM 15/05/2024)
Dubai Corporation for Consumer Protection and Fair Trade carries out extensive field tours to ensure market stability (WAM 15/05/2024)
Dubai Civil Aviation Authority spotlights air transport enablement at Airport Show 2024 (WAM 15/05/2024)
Expo 2020 Dubai Museum to open to public on 18th May (WAM 15/05/2024)
Thuraya unveils next generation 'IP NEO' terminal (WAM 15/05/2024)
Khalifa University ranks 27th worldwide, tops MENA in 'THE Young University Rankings 2024' (WAM 15/05/2024)
Value of Dubai Chamber of Commerce members' exports, re-exports reaches AED73.5b during Q1 2024 (WAM 15/05/2024)
TII, Burjeel Medical City partner to advance immunotherapy solutions for cancer patients (WAM 15/05/2024)
Circa Biotech upcycles organic waste into animal feed using insects to protect resources, cut down emissions (WAM 15/05/2024)
The future of healthcare is in our genes (WAM 15/05/2024)
Dubai ranked No.1 globally for attracting Greenfield FDI projects for third successive year (WAM 15/05/2024)
Tecom to invest $463m in Dubai acquisition and development plan (The National 15/05/2024)
Nearly 12,000 commercial activities recorded in the UAE aviation sector during Q1 (Khaleej Times 15/05/2024)
Dubai flights: Emirates starts using green fuel for some trips from London (Khaleej Times 15/05/2024)
Dubai civil aviation sector activity sees 21% uplift in activity in Q1 (Arabian Business 15/05/2024)
Hafeet Rail: $3bn UAE to Oman train track project will have 60 bridges, 2.5km tunnel and cut transit times in half (Arabian Business 15/05/2024)
UAE real estate: Dubai property sales prices and rent up over 20%, Abu Dhabi transactions spike (Arabian Business 15/05/2024)
Over 19,000 new businesses join Dubai Chamber of Commerce in Q1 2024 (Arabian Business 15/05/2024)
Aramex partners with Saudi Arabia’s Omniful to advance e-commerce fulfillment segment (Arabian Business 15/05/2024)
UAE construction pipeline valued at $590bn, MENA region has $3.9tn of unawarded projects (Arabian Business 15/05/2024)
UAE sees 140% surge in monthly online shopping: Report (Arabian Business 15/05/2024)
Al Dahra Holding utilises advanced technologies, innovative concepts to drive global investments in food sector (WAM 14/05/2024)
Dubai Municipality rolls out comprehensive waste management, recycling project in Hatta (WAM 14/05/2024)
Food Innovation Hub UAE discusses development of effective solutions to food sustainability (WAM 14/05/2024)
UAE President, Mohammed bin Rashid discuss national issues (WAM 14/05/2024)
Hamdan bin Mohammed approves Dubai Quality of Life Strategy 2033 (WAM 14/05/2024)
DP World, Einride announce largest deployment of electric, autonomous freight mobility in Middle East (WAM 14/05/2024)
UAE continues to demonstrate robust growth in non-oil sectors: OPEC (WAM 14/05/2024)
M42 unveils its next-gen Clinical LLM at inaugural ADGHW (WAM 14/05/2024)
Etihad Cargo fully prepared for UAE-PLACI (WAM 14/05/2024)
ADNOC delivers first-ever bulk shipment of CCS-enabled certified low-carbon ammonia to Japan (WAM 14/05/2024)
Tadweer to build Abu Dhabi’s first-ever dedicated facility for recovering, capturing valuable recyclable materials (WAM 14/05/2024)
UAE-based Insilico Medicine advances world’s first fully AI-generated drug to clinical trials (WAM 14/05/2024)
EDGE signs agreement with PT Pindad for ammunition production line (WAM 14/05/2024)
Abu Dhabi Department of Health partners with MBZUAI, Core42 to launch Global AI Healthcare Academy (WAM 14/05/2024)
Silal inaugurates largest automated packhouse in UAE (Abu Dhabi Media Office 14/05/2024)
Why tourism is set to drive economic diversification in the Gulf (The National 14/05/2024)
UAE rains: Lost a bit of revenue, but no infrastructural damage says Dnata (Khaleej Times 14/05/2024)
UAE flights: New protocol issued to combat spread of infectious diseases during travel (Khaleej Times 14/05/2024)
Dubai tops global foreign direct investment rankings, attracts $10.7b capital and creates 45,000 jobs (Arabian Business 14/05/2024)
Airport Show 2024: Dubai aviation thriving with $35b Al Maktoum International Airport and record $4.7b Emirates profit (Arabian Business 14/05/2024)
Dubai’s dnata CEO: Airport check-in queues could be ‘eliminated’ with new technology (Arabian Business 14/05/2024)
Dubai tops as world’s No.1 wedding destination (Arabian Business 14/05/2024)
UAE ranks top globally for shopping satisfaction, report finds (Arabian Business 14/05/2024)
DMT launches Plan Capital Survey for Abu Dhabi’s future development (WAM 13/05/2024)
e& UAE sets new world record with fastest 5G speed of 30.5Gbps (WAM 13/05/2024)
Dubai Municipality introduces smart, remotely operated marine scraper to combat water pollution (WAM 13/05/2024)
Core42 launches AI-driven JAIS Chat, serving over 400 million Arabic-speakers worldwide (WAM 13/05/2024)
UAE tops global fibre connectivity with 99.3% penetration (WAM 13/05/2024)
UAE FINANCIAL NEWS
UAE, Saudi ‘Buy Now, Pay Later’ demand on the rise but experts call for caution as youth debt balloons (Arabian Business 20/05/2024)
UAE’s Alef Education announces intention to list on Abu Dhabi bourse (Arabian Business 20/05/2024)
UAE corporate tax: Maximise benefits by enjoying exemptions and opting reliefs (Khaleej Times 19/05/2024)
(WAM 18/05/2024)
Mubadala reports AED1.1t assets under management in 2023 (WAM 17/05/2024)
'Lunate' launches Chimera S&P Japan UCITS ETF (WAM 16/05/2024)
GCC Banks' profitability to remain strong in 2024: S&P (WAM 15/05/2024)
SALAMA reports profits of= AED17.6m in Q1 2024 (WAM 15/05/2024)
Bayanat reports AED113m in revenues in Q1 24 (WAM 15/05/2024)
Tabreed reports AED468mn revenues in Q1 2024 (WAM 15/05/2024)
TAQA Group reports AED2.1b net income for Q1 2024 (WAM 15/05/2024)
Phoenix Group records 18% increase in revenue to over $68m in Q1 (Arabian Business 15/05/2024)
BHM Capital’s profit surges 22% in Q1 (Arabian Business 15/05/2024)
UAE banks to roll out Jaywan card to generate $272m savings (Arabian Business 15/05/2024)
Emaar Group's property sales grow 47%, totalling AED13.5b in Q1 2024 (WAM 14/05/2024)
Muwafaq Package reports 4.5% registration growth, with subscribers totalling 54,000 (WAM 14/05/2024)
Consumer confidence in UAE banking rose to 90% in 2023 (WAM 14/05/2024)
VAT, Excise Tax revenues hit AED173.6b in 2023 (WAM 14/05/2024)
AD Ports Group's revenues surge to AED3.89b in Q1-24 (WAM 14/05/2024)
Dubai Investments reports net profit of AED119.96m in Q1 2024 (WAM 14/05/2024)
E7 Group's Q1 2024 net profit before tax up 42% y-o-y (WAM 14/05/2024)
DoH, M42 launch region’s largest hybrid cord blood bank (WAM 14/05/2024)
Etihad Airways transports 5.7 million passengers in 4 months (WAM 14/05/2024)
Spinneys revenues reach AED815m in Q1 2024 (WAM 14/05/2024)
Fertiglobe reports $119m in adjusted net profit in Q1 2024 (WAM 14/05/2024)
Abu Dhabi Department of Economic Development announces 253% growth in non-oil exports to Poland (Abu Dhabi Media Office14/05/2024)
UAE corporate tax: How to report non-deductible expenses? (The National 14/05/2024)
Fils partners with Arab Financial Services to drive sustainable digital transformation in MENA region (Arabian Business 14/05/2024)
Air Arabia reports net profit of AED266m in Q1-24 (WAM 13/05/2024)
ADIB Business Banking unveils nationwide geographical expansion plan (WAM 13/05/2024)
ADNOC Drilling delivers record Q1 revenue, EBITDA (WAM 13/05/2024)
UAE National Bonds saving scheme creates 292 millionaires in Q1 as Gen Z emerge as top savers (Arabian Business 13/05/2024)
ADCB tops list as best bank in UAE for customer experience: KPMG report (Arabian Business 13/05/2024)
UAE MERGERS AND ACQUISITIONS NEWS
Mubadala Capital finalises acquisition of stake in Fortress Investment Group from Softbank (The National 16/05/2024)
Abu Dhabi-based Tau Capital makes a ‘significant’ investment in global air-to-water tech company Airwater Co (Arabian Business 16/05/2024)
UAE BILATERAL TRADE NEWS
(WAM 20/05/2024)
UAE President holds phone call with President of Kazakhstan (WAM 18/05/2024)
UAE delegation explores economic, investment cooperation with Benin (WAM 17/05/2024)
16th UAE-France Strategic Dialogue affirms joint commitment to boosting cooperation in vital sectors (WAM 17/05/2024)
DEWA, PowerChina to promote sustainable energy solutions (WAM 17/05/2024)
Dubai Humanitarian champions sustainable solutions at Humanitarian Networks and Partnerships Weeks in Geneva(WAM 16/05/2024)
UAE key partner in China's global expansion, says Chinese Ambassador (WAM 16/05/2024)
Mohammed bin Rashid meets with Prime Minister of Kuwait (WAM 16/05/2024)
AD Ports Group signs MoU to explore development, operation of multi-purpose port in Chittagong, Bangladesh (WAM 16/05/2024)
Mohammed bin Rashid arrives in Manama along with Mansour bin Zayed to participate in 33rd Arab Summit (WAM 16/05/2024)
Masdar, Infinity Power, Hassan Allam Utilities sign Land Access Agreement for 10GW mega wind project with Egyptian Government (WAM 15/05/2024)
DP World boosts European trade with €130m investment in Romania (WAM 15/05/2024)
Dubai consolidates D33 impact of business events with participation at IMEX Frankfurt 2024 (WAM 15/05/2024)
UAE participates in committee meeting of Joint Arab Electricity Market in Saudi Arabia (WAM 15/05/2024)
China’s investment in UAE rose 16% to $1.3b in 2023 as ties strengthen (The National 15/05/2024)
ADNEC Group participates in IMEX Frankfurt 2024 (WAM 14/05/2024)
Sultan Al Jaber receives US Energy Secretary in Abu Dhabi (WAM 14/05/2024)
'AML/CTF Executive Office' participates in high level anti-money laundering roundtable in Vienna (WAM 14/05/2024)
UAE President discusses cooperation with Indonesian Defence Minister (WAM 13/05/2024)
Abdullah bin Zayed discusses strengthening bilateral cooperation with Slovenian Deputy PM (WAM 13/05/2024)
Zayed International Airport explores expanding economic, tourism ties with Chinese delegation (WAM 13/05/2024)
Mubadala Energy announces second consecutive significant gas discovery in South Andaman, Indonesia (WAM 13/05/2024)
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Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi and Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East
