UAE Weekly Business News 22/05/23
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UAE Weekly Business News, Issue 137. 22nd May 2023.
UAE free zones news headlines
Dubai's Diamond Exchange partners with Sotheby's (Government of Dubai Media Office 22/05/2023)
Abu Dhabi Global Market continues epic journey as fastest-growing IFC in region (Khaleej Times 22/05/2023)
Dubai Chambers and DIFC Family Wealth Centre sign MOU (WAM 21/05/2023)
IFZA Dubai, Zoho reveal plans for corporate tax compliance under new rules (Arabian Business 19/05/2023)
DCAA signs MoUs with Dubai Aviation City Corporation, Dubai Integrated Economic Zones on digitialisation (WAM 17/05/2023)
Meydan Free Zone, ADIB sign strategic partnership to empower SMEs to grow from Dubai (WAM 15/05/2023)
Dubai’s DIFC registers over 3,000 non-financial firms, attracts Apple, Aramco, Baker McKenzie and more (Arabian Business 15/05/2023)
UAE employment, visa and Emiratisation news
Emiratis who retire after 20 years' career lose certain insurance benefits (WAM 22/05/2023)
Emirati private sector workforce rises by a third in 2023 (The National 22/05/2023)
Most UAE nationals unhappy with current salary but expect increase (Arabian Business 22/05/2023)
GPSSA advises Emiratis to work for 35 years to get full pension benefits (Arabian Business 22/05/2023)
‘Can an employer delay a gratuity payment by two months?’ (The National 21/05/2023)
UAE’s Sheikha Bodour calls for more jobs for women in tech (Arabian Business 21/05/2023)
UAE sick leave: How much can you take and can you be fired if you are ill? (Arabian Business 21/05/2023)
Sudanese citizens in UAE exempted from fines for violating residence law (WAM 19/05/2023)
What are the most in-demand jobs in the Gulf? (Arabian Business 19/05/2023)
88% drop in collective labour disputes in Q1 2023: Ministry of Human Resources (WAM 18/05/2023)
Basic salary and job perks drive employee loyalty in the UAE (The National 17/05/2023)
UAE unemployment insurance: Apply before June 30 or face fines (Arabian Business 17/05/2023)
UAE unemployment insurance: How freezone workers can apply (Arabian Business 17/05/2023)
Two million sign up for UAE’s unemployment insurance scheme (The National 16/05/2023)
MOHRE calls on eligible employees to subscribe to the UAE's unemployment insurance scheme (WAM 15/05/2023)
How to get $16,300 UAE job loss insurance in 4 easy steps (Arabian Business 15/05/2023)
UAE business and economy news
DEWA discusses collaboration with World Smart Sustainable Cities Organisation (WAM 22/05/2023)
SCA, UBF explore cooperation to support asset management industry (WAM 22/05/2023)
Tadweer rolls out larger-capacity green containers to enhance recycling across capital (WAM 22/05/2023)
Etihad Rail and Uber sign initial passenger transport pact (The National 22/05/2023)
UAE announces ministry name change (Arabian Business 22/05/2023)
Dubai’s prime property looks promising, but storm clouds loom (Arabian Business 22/05/2023)
5 reasons why property owners in Dubai are getting younger (Khaleej Times 22/05/2023)
UAE has highest percentage of ‘digital-first’ construction firms in EMEA (Khaleej Times 22/05/2023)
Art Dubai 2023 generates AED143 million in economic impact and attracts 23,500 hotel bookings to Dubai (WAM 21/05/2023)
Dubai Customs seizes 330 tonnes, 200 samples banned under CITES Convention (WAM 21/05/2023)
Mubadala continues to advance UAE's knowledge-based economy (WAM 21/05/2023)
Ministry of Climate Change and Environment reclassifies 64 air quality monitoring stations in the UAE (WAM 21/05/2023)
UAE holds first Investopia Europe in Milan as it seeks to boost FDI (The National 21/05/2023)
UAE announces best and worst government services: Sheikh Mohammed (Arabian Business 21/05/2023)
Dubai announces AI plan to slash traffic jams (Arabian Business 21/05/2023)
ADAFSA launches ambitious programme for sustainable beekeeping and honey production in Abu Dhabi (WAM 20/05/2023)
Ministry of Community Development, Etihad Water & Electricity implement new support scheme for low income farmers (WAM 20/05/2023)
Khaled bin Mohamed bin Zayed inaugurates SeaWorld Yas Island (WAM 20/05/2023)
Middle East aviation growth expected, summer bookings up 43% (Arabian Business 20/05/2023)
Dubai now flies direct to 22 cities in India (Arabian Business 20/05/2023)
UAE ranks second globally in customer trust: UAE Banks Federation (WAM 19/05/2023)
Dubai records AED9.1b worth weekly real estate transactions (WAM 19/05/2023)
MoF calls on public to rely on official publications and contents on Corporate Tax (WAM 19/05/2023)
MoFAIC and Burjeel Holdings sign MoU on provision of healthcare services (WAM 19/05/2023)
Dubai is best city brand in Middle East and Africa, report says (The National 19/05/2023)
Empower buys Dubai airport’s cooling units in $299m deal (The National 19/05/2023)
Adnoc Drilling to focus more on unconventional oil and gas (The National 19/05/2023)
Etihad Airways reduces carbon emissions by 42% in three years (The National 19/05/2023)
UAE digital banking use up 100% (Arabian Business 19/05/2023)
Etihad Rail Map: Inside the UAE’s $3b railway network (Arabian Business 19/05/2023)
UAE tax rule change 2023: All you need to know (Arabian Business 19/05/2023)
Dubai Supreme Council of Energy intensifies inspection campaigns on LPG distributors (WAM 18/05/2023)
Dubai announces completion of biogas-to-energy project at Warsan Wastewater Treatment Plant (WAM 18/05/2023)
World Bank expects UAE GDP to grow to 3.4% in 2024 (WAM 18/05/2023)
MOEI UAE signs six partnership agreements for ‘Blue Pass’ project (WAM 18/05/2023)
Masdar on track to become one of world’s largest renewable energy companies with huge increase in clean energy capacity (WAM 18/05/2023)
ADDED, ADIB to facilitate digital business banking account opening (WAM 18/05/2023)
Emirates Foundation partners with Emirates Nature-WWF to build a sustainable future in the UAE (WAM 18/05/2023)
Environment Agency - Abu Dhabi and Miral sign MoU to enhance marine conservation and research (WAM 18/05/2023)
Abu Dhabi Criminal Court convicts 7 companies for money laundering (WAM 18/05/2023)
Local Press: How the UAE made its roads safer (WAM 18/05/2023)
MoIAT to showcase business opportunities, incentives at ‘Make it in the Emirates Forum’ (WAM 18/05/2023)
Abu Dhabi Arabic Language Centre inaugurates world’s largest floating book fair (Abu Dhabi Media Office 18/05/2023)
GCC set to maintain growth momentum in 2023 (The National 18/05/2023)
Dubai real estate sales fall for first time in 2023: Report (Arabian Business 18/05/2023)
UAE, GCC countries transition to new corporate tax regime, experts call for regulatory overhaul (Arabian Business 18/05/2023)
UAE luxury train to offer VIP rail cruises in Dubai and Abu Dhabi (Arabian Business 18/05/2023)
20% reduction in nitrogen oxide emissions in UAE (WAM 17/05/2023)
Integrate Middle East highlights AV innovation (WAM 17/05/2023)
UAE Maritime Week supports MOEI's ‘She of Calibre’ initiative (WAM 17/05/2023)
CABSAT 2023 highlights business growth opportunities and emerging industry trends (WAM 17/05/2023)
Federal Tax Authority launches 'Tax Agents Classification' initiative (WAM 17/05/2023)
Al Hussaini heads UAE delegation participating in GCC Financial and Economic Cooperation Committee (WAM 17/05/2023)
flydubai and Air Canada announce codeshare partnership (WAM 17/05/2023)
World Bank expects UAE's non-oil economy to grow by 4.8% in 2023 (WAM 17/05/2023)
Dubai wins bid to host International Trademark Association Annual Meeting in 2026 (WAM 17/05/2023)
EDB highlights technology focus, expertise at Middle East Banking Innovation Summit (WAM 17/05/2023)
Emirates NBD launches Digital Asset Lab, announces founding council members (WAM 17/05/2023)
Bayanat, Yahsat, ICEYE to broaden commercial opportunities across UAE space-ecosystem (WAM 17/05/2023)
GCC can gain $300b in FDI by becoming global supply chain centre (The National 17/05/2023)
UAE business owners to be subject to corporate tax only if their turnover exceeds AED1m (The National 17/05/2023)
Are you in the richest 1% of the UAE? (The National 17/05/2023)
Travel and tourism tipped to contribute $49bn to UAE economy this year (The National 17/05/2023)
UAE to manage emergencies, crisis using AI powered data (Arabian Business 17/05/2023)
Nakheel evicts restaurants from The Pointe in Palm Jumeirah ahead of major redevelopment (Arabian Business 17/05/2023)
UAE banks see improvement in customer satisfaction, says new KPMG study (Arabian Business 17/05/2023)
Will 9% corporate tax apply to personal income, investments? Ministry clarifies (Khaleej Times 17/05/2023)
Podcast series featuring conversations with climate leaders and changemakers launched at Dubai Podfest 2023 (WAM 16/05/2023)
Ministry of Climate Change and Environment hosts 2nd National Dialogue for Food Security (WAM 16/05/2023)
Emirates SkyCargo and Air Canada enhance cargo interline cooperation (WAM 16/05/2023)
Abu Dhabi First City in region to complete assessment of ecosystems as per IUCN’s Standards (WAM 16/05/2023)
Etihad Airways announces new route to Japan (WAM 16/05/2023)
Abu Dhabi Civil Defence Authority launches Field Survey Initiative (WAM 16/05/2023)
NCM reviews 38 pre-proposals for 5th Cycle of UAE Research Programme for Rain Enhancement (WAM 16/05/2023)
Dubai’s Knowledge Fund Establishment launches Strategic Plan 2023-2025 (WAM 16/05/2023)
Masdar, Airbus to support development of global sustainable aviation fuel market (WAM 16/05/2023)
Etihad Rail partners with DHL Global Forwarding to utilise National Rail Network as a major facilitator of DHL operations (Abu Dhabi Media Office 16/05/2023)
Environment Agency – Abu Dhabi enhances efforts to protect ecosystems and habitats with Abu Dhabi Red List of Ecosystems assessment (Abu Dhabi Media Office 16/05/2023)
Dubai’s luxury residential market forecast to grow 13.5% this year (The National 16/05/2023)
Metaverse worth over $80b to Middle East, report says (Arabian Business 16/05/2023)
Dubai announces biggest food court in Middle East, with live entertainment, DJs (Arabian Business 16/05/2023)
Dubai’s City Walk announces plan to attract new tenants, visitors (Arabian Business 16/05/2023)
Dubai school dates for 2023 revealed (Arabian Business 16/05/2023)
Etihad announces Abu Dhabi to Osaka flights (Arabian Business 16/05/2023)
What is Adnoc Logistics and Services, what are its goals? (Khaleej Times 16/05/2023)
DoF starts IMTITHAL UAE corporate tax training programme (WAM 15/05/2023)
Maritime leaders reaffirm UAE as preferred destination for investment (WAM 15/05/2023)
UAE Ministry of Climate Change and Environment issues Decree on regulation of Hydrofluorocarbons (WAM 15/05/2023)
UBF spotlights effectiveness of UAE’s efforts in combating fraud at 2023 ACFE Fraud Conference Middle East (WAM 15/05/2023)
Dubai Supreme Council reviews progress in clean energy projects (WAM 15/05/2023)
Marine Agency for Wooden Dhows facilitates entry of over 3,500 dhows in 2023 (WAM 15/05/2023)
'Make it in the Emirates Forum' on May 31 to boost multibillion dollar industry deals (WAM 15/05/2023)
Goldman Sachs to open office in Abu Dhabi (The National 15/05/2023)
Aramex and Abu Dhabi Ports set up joint venture focused on freight forwarding (The National 15/05/2023)
UAE Mergers & Acquisitions news
Fortress Management and Mubadala to acquire Fortress Investment Group (WAM 22/05/2023)
Dubai’s Anantara The Palm to be sold for $280m (Arabian Business 22/05/2023)
Dubai’s Everest Health Investments acquires two healthcare companies (Arabian Business 17/05/2023)
Al Seer Marine make AED257m cornerstone investment into ADNOC Logistics & Services PLC (WAM 16/05/2023)
ADMM, Flash Entertainment merge to form ‘Ethara’ (Arabian Business 16/05/2023)
UAE Financial Results & News
Islamic banking growth outpaces conventional banks in the UAE (WAM 19/05/2023)
Mubadala Investment Company exceeds global benchmarks in 2022 financial results (WAM 19/05/2023)
UAE bank investments at all-time-high of AED541b in February (WAM 18/05/2023)
Gross banks’ assets rose by 2.2% to AED3,747.8b at end of February 2023: CBUAE (WAM 16/05/2023)
CBUAE imposes administrative sanctions on 8 banks operating in the UAE (WAM 16/05/2023)
ADNOC L&S announces offer price range and opening of subscription period for IPO (WAM 16/05/2023)
AD Ports Group reports AED1,817m in Q1 revenue (WAM 15/05/2023)
UAE bilateral trade news
UAE International Investors Council, Egyptian-Emirati Business Council sign MoU to enhance cooperation (WAM 22/05/2023)
TAQA, Government of Uzbekistan to explore power projects and infrastructure investment (WAM 22/05/2023)
ADJD discusses partnership, exchanging experience with visiting Norwegian delegation (WAM 22/05/2023)
UAE, Malaysia: Long-standing relations across all fields (WAM 21/05/2023)
Al-Jarwan attends annual meeting of Russia-Islamic World Strategic Vision Group (WAM 20/05/2023)
MoEI drives strategic partnerships in clean energy with German and Dutch energy sectors (WAM 20/05/2023)
Thani Al Zeyoudi leads UAE delegation to Kazan Forum 2023 (WAM 19/05/2023)
FAB hosts UAE investment summit for Chinese companies in Middle East (WAM 19/05/2023)
Masdar signs agreement to develop over 2GW of clean energy in Uzbekistan (WAM 19/05/2023)
Abdullah bin Zayed, Italian counterpart discuss strategic partnership over phone (WAM 19/05/2023)
Mansour bin Zayed meets Ukraine's President on sidelines of 32nd Arab League Summit (WAM 19/05/2023)
Mansour bin Zayed meets Iraqi PM on sidelines of 32nd Arab League Summit (WAM 19/05/2023)
TRENDS Research and Advisory and Russian PIR Think Tank Centre forge strategic cooperation agreement (WAM 19/05/2023)
WAM delegation visits media entities in Republic of Korea (WAM 19/05/2023)
UAE, Italy strengthen economic partnership, explore investment exchanges in renewable energy, tourism and fintech (WAM 18/05/2023)
Peruvian Customs delegation briefed on Abu Dhabi Customs experience in digital transformation (WAM 18/05/2023)
AD Ports Group and Karachi Port Trust join forces to advance port infrastructure in Karachi (WAM 18/05/2023)
Supreme Audit Institution, Iraqi Commission of Integrity sign MoU (WAM 18/05/2023)
Dubai Chambers signs trade MoU with Chinese General Chamber of Commerce (WAM 18/05/2023)
Dubai, Belgrade sign MoU to bolster cooperation in key industries (WAM 18/05/2023)
UAE President, President of Kazakhstan review bilateral ties (WAM 17/05/2023)
Al Zeyoudi boosts trade and investment ties with ministers and business leaders of Bosnia-Herzegovina (WAM 17/05/2023)
Ministry of Finance announces UAE Cabinet Decision on treatment of natural persons in business activities (WAM 17/05/2023)
UAE, UK commit to elevating partnership for the future at inaugural UK-UAE Strategic Dialogue (WAM 17/05/2023)
Zayed Higher Organization for People of Determination and Kuwait’s Public Authority for Disability Affairs enhancing bilateral services (Abu Dhabi Media Office 17/05/2023)
UAE-Netherlands to work on water and food projects ahead of Cop28 (The National 17/05/2023)
Abu Dhabi Terminals celebrates milestone achievements handling 20m TEU since inception (WAM 16/05/2023)
Tadweer partners with Polygreen to achieve zero waste in UAE, Greece and beyond (WAM 16/05/2023)
DIEZ welcomes delegation from Curaçao Island to discuss cooperation opportunities (WAM 16/05/2023)
UAE reiterates support for Arab cooperation efforts to ensure economic stability (WAM 15/05/2023)
TDRA participates in SAMENA Summit on role of telecommunications in supporting digital economy (WAM 15/05/2023)
DMCC to open a representative office in Mumbai to boost cooperation (WAM 15/05/2023)
UAE affirms keenness to complete the establishment of the GCC Customs Union (WAM 15/05/2023)
Dubai International Chamber’s initiative connects UAE, Uzbek renewable energy companies (WAM 15/05/2023)
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Written by Jenny Hunt
Founder, Gateway Group, Abu Dhabi & Dubai, United Arab Emirates
FORBES' Top 100 Most Influential Women in the Middle East