UAE Weekly Business News 25/03/2024

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UAE Weekly Business News: Issue 181 published 25th March 2024.

UAE FREE ZONE NEWS

• SRTI Park partners with Maxbyte to set up Industry X.0 Centre (WAM 21/03/2024)

• ADIO advances Abu Dhabi’s gaming ecosystem (WAM 21/03/2024)

• ADGM 2024 growth outlook: Over 70% of companies in ADGM Plan Workforce Expansion in 2024 (WAM 20/03/2024)

• Pharmatrade launches Logistics Centre in KEZAD (WAM 19/03/2024)

UAE VISA NEWS (inc. employment, Emiratisation, human resources, training and women)

• ‘Can a company sue me if I refuse to accept a job offer?’ (The National 24/03/2024)

• Hamdan bin Mohammed approves salary increases for Imams, ‏muezzins serving in Dubai (WAM 23/03/2024)

• UAE ranks among main pillars of global humanitarian work (WAM 22/03/2024)

• UAE leads regionally, only Arab country among top 20 globally in Human Development (WAM 21/03/2024)

• Over 7m workers sign up for unemployment insurance scheme (Arabian Business 21/03/2024)

• New UAE private sector health insurance rules, policies for workforce and wellbeing – All you need to know (Arabian Business 20/03/2024)

• UAE recruitment: How to get a job in Dubai; search tips; interview advice; hiring hacks (Arabian Business 20/03/2024)

• ADQCC approves professional conformity programme for individuals working in oil, gas sector in Abu Dhabi (WAM 19/03/2024)

• UAE President directs monthly allowance of 50% of basic salary for imams, muezzins (WAM 19/03/2024)

• UAE HCT launches new apprenticeship programme to boost Emiratisation (Arabian Business 19/03/2024)

UAE BUSINESS AND ECONOMY NEWS

• ADJD releases upgraded app offering advanced legal services (WAM 25/03/2024)

• FCA, 'UAE Equestrian' collaborate to bring equine-assisted therapy to family care services in Abu Dhabi (WAM 25/03/2024)

• Minimum AED10,000 fine: Dubai shuts down 3 car rental firms for violating consumer rights (Khaleej Times 25/03/2024)

• The rise of electric vehicles in fleet services (Khaleej Times 25/03/2024)

• Ecolab helps companies save 47.9b liters of water in 2023 in Middle East, Africa and India (Arabian Business 25/03/2024)

• Abu Dhabi to host world’s first ‘eSports Island’ – a $280m global hub for gamers (Arabian Business 25/03/2024)

• FTA upgrades three key services in line with UAE’s Government Services 2.0 Framework (WAM 24/03/2024)

• RTA completes 75% of Garn Al Sabkha-Sheikh Mohammed bin Zayed Roads Intersection Improvement Project (WAM 24/03/2024)

• UAE, Saudi to drive regional surge in security software spending (Khaleej Times 24/03/2024)

• Unit 4 of Barakah Nuclear Energy Plant successfully connected to UAE grid (WAM 23/03/2024)

• UAE telecom operator Du gets licence to offer digital financial services (Khaleej Times 23/03/2024

• ENEC, General Atomics to collaborate on integration of advanced materials with nuclear technologies (WAM 22/03/2024)

• ADAFSA highlights its various water sustainability initiatives (WAM 22/03/2024)

• Majlis Mohamed bin Zayed lecture explores future of healthcare technology (WAM 22/03/2024)

• Department of Culture and Tourism – Abu Dhabi extends 10% tourism tax exemption for 2024 (Abu Dhabi Media Office 22/03/2024)

• Dubai announces new environment authority, plans to double green spaces (Arabian Business 22/03/2024)

• UAE residents prefer social media for news (Arabian Business 22/03/2024)

• Hamdan bin Mohammed approves AED40b worth of projects under public-private partnership model (WAM 21/03/2024)

• UAE reveals details of national policy on biofuels (WAM 21/03/2024)

• Dubai Chamber of Commerce hosts first quarterly meeting of Business Groups and Councils for 2024 (WAM 21/03/2024)

• Emarat grants Al Maryah Community Bank the first naming rights to its stations (WAM 21/03/2024)

• RTA upgrades 165 ticket vending machines across Dubai Metro stations (WAM 21/03/2024)

• NCM highlights efforts to address water security challenges (WAM 21/03/2024)

• ‘Ramadan In Dubai’ campaign offers residents, visitors opportunities to indulge in Dubai's diverse culinary offerings (WAM 21/03/2024)

• UAE President issues law regulating rehabilitation and correctional centres in Abu Dhabi (WAM 21/03/2024)

• Public Prosecution finalises classification of crimes, digitisation of criminal legislation (WAM 21/03/2024)

• Dubai real estate boosted by Chinese social media as buyers and sellers look to Douyin to drive investments (Arabian Business 21/03/2024)

• Heavy traffic, long commutes forcing over half of Dubai residents to work on-the-go (Arabian Business 21/03/2024)

• UAE cyberattacks surge during Ramadan (Arabian Business 21/03/2024)

• Middle East first to recover Chinese tourism numbers: Report (Arabian Business 21/03/2024)

• UAE industrial growth: $51b exports, manufacturing boom, Golden Visa incentives and more drive sector (Arabian Business 21/03/2024)

• Dubai International Chamber supports expansion of two companies from Dubai in global EV market (WAM 20/03/2024)

• UAE's industrial exports have grown by AED70b in 3 years: Sultan Al Jaber (WAM 20/03/2024)

• Gewan AI and Eros Investment sign strategic partnership promoting AI innovation on back of Investopia 2024 (WAM 20/03/2024)

• Abu Dhabi's industrial sector booms with 51% rise in licences (WAM 20/03/2024)

• ATM 2024 expecting to double number of Chinese participants (WAM 20/03/2024)

• UAE Council for Artificial Intelligence and Blockchain launches award to enhance competitiveness in future sectors (WAM 20/03/2024)

• ADREC reports AED87.1b in real estate transactions in 2023 (WAM 20/03/2024)

• Construction of Natural History Museum Abu Dhabi reaches 65% completion (Abu Dhabi Media Office 20/03/2024)

• Ministry driving UAE's industrial sector and economy to new highs, says Dr Sultan Al Jaber (The National 20/03/2024)

• Abu Dhabi industrial boom sees 51% licence increase as sector targets 13,600 new skilled jobs and $47b manufacturing output (The National 20/03/2024)

• Niche ultra-luxe perfume brand Navitus Parfums announces massive AED60m expansion in 25 cities in the Middle East (Arabian Business 20/03/2024)

• 5,492 ATA Carnets issued, received for goods, commodities worth AED5 billion in 2023: Dubai Chamber of Commerce (WAM 19/03/2024)

• Department of Energy - Abu Dhabi report highlights performance of power distribution to industrial sector in emirate (WAM 19/03/2024)

• Bloomberg launches new Murban Crude Oil Index (WAM 19/03/2024)

• COP28 President receives leadership award at CERAWeek by S&P Global for securing historic UAE Consensus (WAM 19/03/2024)

• Abu Dhabi Global Healthcare Week launches ‘HealthBeats’ podcast (WAM 19/03/2024)

• ADREC Settlement Dispute Centre mediates 1,090 real estate disputes valued at over AED1.9b (WAM 19/03/2024)

• Thuraya partners with Niflink to deliver telemedicine, eLearning to users across its network (WAM 19/03/2024)

• ISNR 2024 to showcase latest security solutions (WAM 19/03/2024)

• NMC Healthcare and DIB reach out-of-court settlement after Abu Dhabi company's crash (The National 19/03/2024)

• What tourists need to know about visiting the UAE during Ramadan (The National 19/03/2024)

• Air India Express to add 24 more UAE-India weekly flights during summer holidays (Khaleej Times 19/03/2024)

• Dubai taxis fitted with interactive screens to stream TV, games, news and more (Arabian Business 19/03/2024)

• Poor understanding amongst UAE customers when choosing insurance products: Survey (Arabian Business 19/03/2024)

• Australian, Asian businesses accounted for 50% of MNCs attracted by Dubai International Chamber in 2023 (WAM 18/03/2024)

• Mohammed bin Rashid chairs UAE Cabinet meeting reviewing accomplishments of industrial sector, initiatives supporting labour market (WAM 18/03/2024)

• How the Nakheel-Meydan merger will shake up Dubai's real estate market (The National 18/03/2024)

• Abu Dhabi announces $817m traffic plan; new roads and bridges planned to slash congestion (Arabian Business 18/03/2024)

UAE FINANCIAL NEWS

• Exploring the mysteries of deferred tax in the UAE (Khaleej Times 24/03/2024)

• Response Plus Holding net profit surges 68% to AED49.3m during 2023 (WAM 22/03/2024)

• This is how companies are benefiting in the UAE’s tax free environment (The National 22/03/2024)

• Parkin shares surge 30% on Dubai trading debut (The National 21/03/2024)

• Lulu appoints banks for $2b IPO in second half of year (Khaleej Times 21/03/2024)

• Corporate Tax registration requests can now be submitted at 23 government service centres across emirates (WAM 20/03/2024)

• CBUAE maintains Base Rate at 5.40% (WAM 20/03/2024)

• ADX announces listing date of Chimera JP Morgan UAE Bond UCITS ETF (WAM 20/03/2024)

• Dubai Aerospace Enterprise signs new US$420m 5-year unsecured term loan (WAM 20/03/2024)

• Dubai’s sailing startup Wind Rises secured $1m pre-seed funding (Arabian Business 20/03/2024)

• Moove secures $100m in Series B funding round (WAM 19/03/2024)

• ADX, Eureeca partner to expand international investor access to IPOs (WAM 19/03/2024)

• Islamic banking assets in UAE surpass AED700b for first time at year-end 2023 (WAM 19/03/2024)

• UAE investments abroad hit $2.5t at beginning of 2024 (WAM 19/03/2024)

• MANTRA announces $11m funding round led by Shorooq Partners (Arabian Business 19/03/2024)

• Tourist tax refunds surge 14.41% to 4.18m in 2023 (WAM 18/03/2024)

UAE MERGERS AND ACQUISITIONS NEWS

• AD Ports Group acquires 60% majority stake in Georgia’s Tbilisi Dry Port (Abu Dhabi Media Office 23/03/2024)

• Emirates Stallions Group secures dominant stake in two leading UAE interior design firms (WAM 21/03/2024)

• EGA to acquire recycled aluminium producer Leichtmetall (WAM 21/03/2024)

• Bayanat, Yahsat shareholders to vote on recommended merger to create SPACE42 on April 25 (WAM 21/03/2024)

• Borse Dubai to sell Nasdaq shares worth $1.6b (The National 20/03/2024)

• Masdar to acquire 50% stake in Terra-Gen from ECP (WAM 19/03/2024)  

UAE BILATERAL TRADE NEWS

• Etihad Cargo, Astral Aviation celebrate inaugural flight strengthening Abu Dhabi-Nairobi connection  (WAM 25/03/2024)

• UAE, Egypt Presidents meet in Cairo to discuss bilateral relations (WAM 23/03/2024)

• UAE participates in Nuclear Energy Summit in Brussels (WAM 22/03/2024)

• President of UAE receives written message from King of Bahrain (WAM 22/03/2024)

• UAE President and King of Jordan discuss bilateral relations (WAM 21/03/2024)

• GCC and Turkey launch talks on free trade agreement (The National 21/03/2024)

• Kenya to leverage UAE’s Trade for Development Platform to increase technical expertise in global trade (WAM 20/03/2024)

• DLD signs partnership agreement with Chinese institute ‘DX Broker Training & Services' to provide real estate training (WAM 19/03/2024)

• President of UAE receives written message from President of Slovakia (WAM 19/03/2024)

• UAE and German Presidents discuss bilateral relations in phone call (WAM 19/03/2024)

• UAE and Angolan Presidents discuss enhancing bilateral cooperation (WAM 18/03/2024)

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Written by Jenny Hunt

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

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