UAE Weekly Business News 24/12/23
MERRY CHRISTMAS from Gateway Group!
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 168. 24th December 2023.
UAE free zones news
JAFZA, Transworld Group to establish state-of-the-art logistics centre (WAM 20/12/2023)
ADGM launches online dispute resolution platform (WAM 20/12/2023)
EHang expands in UAE with strategic partnership and sales agreement with Wings Logistics Hub (WAM 19/12/2023)
DFSA, HKMA join efforts to accelerate sustainable finance across Middle East and Asia (WAM 19/12/2023)
DIFC Innovation Hub concludes 'Investor Day' with over $600m in funding (WAM 19/12/2023)
Kings Aluminium commences construction of AED750m facility in KEZAD (WAM 18/12/2023)
UAE employment, visa and Emiratisation news
Hamdan bin Mohammed approves AED152m in performance-based bonuses to civilian employees of Dubai Government entities (WAM 24/12/2023)
Resilient labour markets drive 3.8% growth in remittances (The National 23/12/2023)
Government Skills Bank registers 3,324 federal employees by H1 2023 (WAM 21/12/2023)
MoHRE suspends licences of 153 employers whose domestic workers caught working for others (WAM 21/12/2023)
MoHRE declares 1st January 2024 as New Year holiday for private sector employees (WAM 21/12/2023)
UAE continues to champion balanced rights for workers and employers (WAM 20/12/2023)
UAE salaries to increase in 2024: Report (Arabian Business 20/12/2023)
UAE private tuition permit: How to apply and what is the cost? (The National 19/12/2023)
Dubai busts illegal immigration gang (Arabian Business 19/12/2023)
74% of employees see AI as biggest workplace opportunity in UAE (Arabian Business 19/12/2023)
MoE, MoHRE regulate private lessons outside educational institutions with new permit introduced (WAM 18/12/2023)
MoHRE calls on private sector to meet 2023 Emiratisation targets before 31 December to avoid financial contributions (WAM 18/12/2023)
MoHRE to begin resolving below-AED50,000 disputes with final executive decisions 1st January 2024 (WAM 18/12/2023)
New work permit to allow UAE teachers to offer private tuition (The National 18/12/2023)
UAE businesss and trade news
Hamriyah and Deira ports report AED12.1b in customs declaration value for Q3 2023 (WAM 24/12/2023)
Ministry of Economy organises final forum on UAE’s Economic Policy Alignment Project in cooperation with OECD (WAM 24/12/2023)
NYU Abu Dhabi study providing insights into health and risk factors for UAE Nationals (Abu Dhabi Media Office 24/12/2023)
UAE property prices are forecast to rise further next year (The National 24/12/2023)
Dubai property owners increasingly opting for flipping as prices hit all-time high (Khaleej Times 24/12/2023)
Surging prices, first-time buyers: 11 trends shaping Dubai's property market (Khaleej Times 24/12/2023)
How tech is easing check-in procedures at DXB (Khaleej Times 24/12/2023)
Mohammed bin Rashid issues Decree regulating farms in Dubai (WAM 22/12/2023)
TAQA, GS Inima, EWEC announce financial closing of AED1.6b Shuweihat 4 sea water desalination project (WAM 22/12/2023)
MBZUAI, United Al-Saqer Group sign research agreement to advance AI in healthcare (WAM 22/12/2023)
UAE ranks first among Arab economies in competitiveness (WAM 22/12/2023)
Dubai government marks January 1 as official New Year holiday (WAM 22/12/2023)
Ministry of Economy reviews cabinet resolution on organisation of real beneficiary procedures (WAM 22/12/2023)
Wizz Air Abu Dhabi carries 3m passengers in 2023 (Abu Dhabi Media Office 22/12/2023)
Salik and Emaar to develop parking system at Dubai Mall (The National 22/12/2023)
$4.5b Dubai real estate transactions this week (Arabian Business 22/12/2023)
UAE branded residences take off as global high net-worth individuals relocate (Arabian Business 22/12/2023)
1 Billion Followers Summit unveils second lineup of content creators with a combined reach of more than 160 million followers (WAM 21/12/2023)
PCFC reserves best of Dubai for cruise ship passengers and crews while ensuring top-notch safety (WAM 21/12/2023)
Rashed Al Kaabi and British Minister for Armed Forces discuss strengthening relations (WAM 21/12/2023)
UAE achieves robust performance in real estate, tourism, and aviation sectors despite global challenges: CBUAE (WAM 21/12/2023)
Media, a key driver of UAE's development across all fields: Saqr Ghobash (WAM 21/12/2023)
Travel and Tourism International Conference to kick-off in Dubai on 11 January (WAM 21/12/2023)
EWEC expands advanced energy modelling and forecasting capacity with Energy Exemplar (WAM 21/12/2023)
Dubai real estate market recorded 50% jump in sales performance in 2023 (Khaleej Times 21/12/2023)
UAE thriving real estate and hospitality boost economy amid $136b Dubai property sales and $122.5b tourism target (Arabian Business 21/12/2023)
Dubai unveils plan to shift delivery drivers to electric bikes (Arabian Business 21/12/2023)
Rotana sets sights on international expansion with 29,000 keys by 2030 (Arabian Business 21/12/2023)
UAE mega projects: 34 upcoming developments (Arabian Business 21/12/2023)
Crypto industry: Pro-business policies, surging adoption draw more global players to UAE (Arabian Business 21/12/2023)
Khalifa University ranks 1st in UAE in 'QS World University Rankings: Sustainability 2024' (WAM 20/12/2023)
DEWA and Microsoft explore enhancing cooperation (WAM 20/12/2023)
Abu Dhabi Chamber of Commerce and Industry launches Abu Dhabi International Arbitration Centre (WAM 20/12/2023)
Dubai Health Authority announces first successful liver transplant surgery in emirate (WAM 20/12/2023)
WRC-23 wraps up in Dubai (WAM 20/12/2023)
Space42 set to become AI-powered space technology champion in MENA region (WAM 20/12/2023)
ADNOC signs first long-term LNG Heads of Agreement from Ruwais low-carbon LNG project (WAM 20/12/2023)
‘Arab Region SDG Index and Dashboards Report 2023’ unveiled (WAM 20/12/2023)
Dubai Municipality launches Future Foresight Plan (WAM 20/12/2023)
Aramex teams up with Regent for seaglider deal (The National 20/12/2023)
Dubai proptech Huspy announces record $270m in mortgages processed in November 2023 (Arabian Business 20/12/2023)
UAE 2023: A year in review (Arabian Business 20/12/2023)
UAE SME incubator cooking up next-gen food businesses (Arabian Business 20/12/2023)
Cleveland Clinic Abu Dhabi completes 50 successful deep brain stimulation implants for Parkinson’s treatment (WAM 19/12/2023)
ATM establishes official partnership with ICCA and GBTA as global business travel spending set to reach US$1.8t by 2027 (WAM 19/12/2023)
UAE President issues Federal Decree-Law establishing UAE Accountability Authority (WAM 19/12/2023)
Etihad Airways and China Eastern Airlines strengthen strategic cooperation (WAM 19/12/2023)
UAE media sector: Exceptional gains, global Influence in 2023 (WAM 19/12/2023)
Ministry of Energy and Infrastructure and partners launch first EARTH Platform initiative (WAM 19/12/2023)
ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant (WAM 19/12/2023)
English Notary Services Bureau completes 140 transactions in first month (WAM 19/12/2023)
Aldar partners with Yellow Door Energy to provide 34 megawatts of solar power to properties (WAM 19/12/2023)
Abdullah bin Zayed commends sustainable partnership between UAE and G20 (WAM 18/12/2023)
BEEAH announces commitment to achieving net-zero emissions by 2040 (WAM 18/12/2023)
Zayed bin Hamdan bin Zayed approves media sector priorities for next three years (WAM 18/12/2023)
Arab Health Congress announces partnership with DHA (WAM 18/12/2023)
UAE Government issues federal decree on regulating media, covering electronic, digital media activities in the country (WAM 18/12/2023)
UAE telecoms: 22m mobile subscribers, 97% 5G coverage, 3.8m broadband subscribers (Arabian Business 18/12/2023)
Etihad announces Maldives transport boost, offers flights to 16 new island destinations (Arabian Business 18/12/2023)
Gaming industry is ‘tool for economic growth,’ says expert ahead of Dubai Gaming Countdown conference (Arabian Business 18/12/2023)
UAE Bankruptcy Law: New rules hold managers, directors more accountable (Arabian Business 18/12/2023)
UAE financial news
UAE issues guide to determine corporate tax liability for individuals (The National 24/12/2023)
UAE financial markets undergoing remarkable sustainability-driven transformation, says LSEG's Nadim Najjar (WAM 22/12/2023)
ADDED unveils platform to enhance manufacturers’ access to financing (WAM 22/12/2023)
UAE banking sector sees AED265.6b in savings deposits until October 2023 (WAM 21/12/2023)
44 large direct deals on IHC worth AED4.458b at ADX Thursday (WAM 21/12/2023)
Gross written premiums increased to AED42b end of Q3 2023: CBUAE (WAM 21/12/2023)
Buna Boom: Network reaches 105 banks, boosting regional payments (WAM 21/12/2023)
CBUAE raises its growth projections for national economy in 2024 to 5.7% (WAM 21/12/2023)
Tabby secures $700m debt financing from JP Morgan (The National 21/12/2023)
PureHealth Holding's share price soars 76% on first day of trading on ADX (WAM 20/12/2023)
Central Bank reports 10% growth in cash deposits to AED687.2b by end of October (WAM 20/12/2023)
ADIB, Aldar Properties close AED1b sustainability linked financing deal (WAM 20/12/2023)
CBUAE issues UAE Islamic Finance Report 2023 (WAM 20/12/2023)
UAE, Saudi to lead GCC non-oil GDP growth: IMF (Khaleej Times 20/12/2023)
ADX witnesses two direct deals on Alpha Dhabi worth about AED3.6b (WAM 19/12/2023)
GCC countries' gross foreign assets will swell to $4.4t by next year, IIF says (The National 19/12/2023)
Astra Tech teams up with Tencent to introduce remittances to China (The National 19/12/2023)
UAE tech startup funding slumps 65% this year (Arabian Business 19/12/2023)
UAE mergers and acquisitions news
Emirates Stallions Group acquires majority stake in United International Group (WAM 22/12/2023)
Dragon Oil discusses 2024 plans, expansion and acquisition opportunities (WAM 20/12/2023)
Nio’s shares gain on $2.2b investment from Abu Dhabi-backed company (The National 20/12/2023)
Bayanat, Yahsat boards recommend merger to create an AI-powered space technology (WAM 19/12/2023)
Abu Dhabi’s CYVN to invest $2.2b in Chinese EV maker Nio (The National 19/12/2023)
BlackRock to invest up to $400m in UAE's Positive Zero (The National 18/12/2023)
UAE bilateral trade news
UAE, Mauritius conclude Comprehensive Economic Partnership Agreement (WAM 22/12/2023)
UAE President discusses bilateral relations with Indonesian President in phone call (WAM 21/12/2023)
UAE Foreign Minister, Portuguese counterpart discuss bilateral ties (WAM 21/12/2023)
Al Marar leads UAE delegation in Arab-Russian Cooperation Forum in Marrakech (WAM 20/12/2023)
Abdullah bin Zayed, New Zealand's Deputy Prime Minister and Foreign Minister review ties (WAM 20/12/2023)
UAE Ambassador meets with Speaker of Jordanian Senate; discusses bilateral relations, cooperation (WAM 19/12/2023)
UAE, Austria hold joint economic committee meeting to strengthen cooperation (WAM 19/12/2023)
Mubadala Energy announces major gas discovery in South Andaman, Indonesia (WAM 19/12/2023)
AIM Congress 2024 concludes its promotional tour in China (WAM 18/12/2023)
MoEI advances collaboration in water with Korea’s Ministry of Environment (WAM 18/12/2023)
If you found 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
