UAE Weekly Business News 29/05/23

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 138. 29th May 2023.

UAE free zones news

• RAKEZ is home to over 18,000 companies from 100 countries (WAM 27/05/2023)

• Leading local and international businesses, organisations and educational institutions to establish offices at EXPO City Dubai (WAM 22/05/2023)

UAE employment, visa and Emiratisation news

• Up to AED31,900 monthly salary offered as airline announces hiring spree (Khaleej Times 27/05/2023)

• Abu Dhabi unveils ‘Industrial Talent Programme’ to meet demand for knowledge-based jobs (WAM 26/05/2023)

• GPSSA stresses importance of cooperation in building successful pension system (WAM 25/05/2023)

• National Experts Programme: Inspiring national cadres for sustainable future (WAM 25/05/2023)

• Abu Dhabi Pension Fund partnership with Burjeel Holdings to provide comprehensive health services to pensioners (Abu Dhabi Media Office 25/05/2023)

• Delivery riders get free health checks to improve road safety (The National 25/05/2023)

• 'Pledge for Gender Balance in UAE Private Sector' garners 64 signatories from local and multinational (WAM 24/05/2023)

• UAE job alert: Work permit rules now changed for employees (Arabian Business 24/05/2023)

• AED42,000 fine: Penalty for UAE companies not meeting Emiratisation targets explained (Khaleej Times 23/05/2023)

• Expo City Dubai: Around 3,000 workers to be based in Expo site by September (Arabian Business 23/05/2023)

• UAE reveals major change to work permits (Arabian Business 22/05/2023)

UAE business and economy news

• Dubai Customs installs state-of-the-art x-ray scanning system at Jebel Ali & TECOM Customs Centre (WAM 28/05/2023)

• Abu Dhabi recommendations for strenthening AML/CFT Systems in MENA region adopted at MENAFATF plenary (WAM 28/05/2023)

• RTA rolls out strategy to transition to zero-emissions operations by 2050 (WAM 28/05/2023)

• Spanish School of Abu Dhabi unveils Spanish Language Center (WAM 27/05/2023)

• Tadweer launches Middle East’s first 100% electric waste collection truck in Abu Dhabi (Abu Dhabi Media Office 27/05/2023)

• UAE space agency to use satellite data to boost climate fight (The National 27/05/2023)

• UAE to use Google AI to control traffic lights and slash congestion (WAM 27/05/2023)

• UICCA hosts first ‘Policy Hack’ to create enabling environment for electric mobility in UAE (WAM 26/05/2023)

• Dubai records AED11.1b worth weekly real estate transactions (WAM 26/05/2023)

• Integrated Transport Centre collaborates with Google to leverage AI data and technologies (WAM 26/05/2023)

• Dubai Municipality launches new online system for building permits and control services (WAM 26/05/2023)

• The rise of day trading in UAE (Khaleej Times 26/05/2023)

• UAE announces rail safety and security partnership (Arabian Business 26/05/2023)

• Dubai’s off-plan branded residential sales soar amid demand from HNWIs (Arabian Business 26/05/2023)

• Experts argue whether property prices can continue to rise (Arabian Business 26/05/2023)

• UAE air taxi facility to create 2,000 aviation jobs (Arabian Business 26/05/2023)

• DP World cut global carbon emission by 5% in 2022 (WAM 25/05/2023)

• Federal Authority for Identity, Citizenship, Customs & Port Security opens registration in National (WAM 25/05/2023)

• ADEC, PRO Events sign MoU to explore events, e-gaming and sport opportunities (WAM 25/05/2023)

• KEZAD Communities, Abu Dhabi Energy Services sign agreement to boost energy efficiency projects in Abu Dhabi (WAM 25/05/2023)

• Federal Authority for Identity, Citizenship, Customs & Port Security opens registration in national system for tracking trucks and shipments (WAM 25/05/2023)

• Partnerships with global technology leaders are key enabler of Dubai’s digital transformation journey (WAM 25/05/2023)

• Ministry of Interior, Etihad Rail ink MoU on strategic cooperation and coordination (WAM 25/05/2023)

• Abu Dhabi Municipality improves 20 Parks to meet World Disability Reunion award’s standards (WAM 25/05/2023)

• EWEC's Taweelah RO facility sets new record, surpassing 90% capacity (WAM 25/05/2023)

• Second 'Make it in the Emirates Forum' to begin 31 May in Abu Dhabi (WAM 25/05/2023)

• FinTech revenue in Mena region and Pakistan 'could hit $4.5b by 2025' (The National 25/05/2023)

• Daikin’s Art of Air survey reveals that ‘50 per cent of UAE residents take action to breathe clean air’ (Khaleej Times 25/05/2023)

• Middle East companies prioritise unification, automation of cybersecurity estates (Arabian Business 25/05/2023)

• Dubai Beach Masterplan: 84km extension, camping, night swimming, cycle paths, bus routes, dining, shopping – everything you need to know (Arabian Business 25/05/2023)

• Dubai’s progressive economic policies support its sustainable development (WAM 24/05/2023)

• ADNOC Drilling to acquire six additional newbuild hybrid power land rigs (WAM 24/05/2023)

• Emirates Shipping Association reinforces maritime dialogues for sustainable future (WAM 24/05/2023)

• Mohammed bin Rashid chairs UAE Cabinet meeting, approves 78 environmental projects and initiatives (WAM 24/05/2023)

• UAE Digital Economy Council showcases national efforts for global leadership in future economy (WAM 24/05/2023)

• 300,000 websites registered in .ae in 2023: TDRA (WAM 24/05/2023)

• Khalifa Fund launches ‘Franchise UAE’ online portal to enable entrepreneurs to buy and sell franchises (WAM 24/05/2023)

• ADNOC, TAQA announce project for sustainable water supply to onshore operations worth up to $2.4b (WAM 24/05/2023)

• Nakheel launches Dubai Islands luxury marina (The National 24/05/2023)

• Dubai’s Global Village opens Season 28 registration (Arabian Business 24/05/2023)

• Dubai’s best restaurants: Ossiano, Al Muntaha top list of UAE fine dining restaurants (Arabian Business 24/05/2023)

• Dubai food delivery giant announces fleet expansion with electric bikes (Arabian Business 24/05/2023)

• UAE, Bahrain top World Bank’s Logistics Performance Index 2023 (Arabian Business 24/05/2023)

• Dubai real estate sees surge in Indian buyers ahead of tax jump (Arabian Business 24/05/2023)

• Borouge expects $400m in savings from its Value Enhancement Programme by end of 2023 (WAM 23/05/2023)

• Nahyan bin Mubarak opens 'National Network for Business Incubators' forum (WAM 23/05/2023)

• Dubai becomes home to first permanent hub of Harvard Business School Club of GCC (WAM 23/05/2023)

• Air Arabia launches new route to Samara in Russia (WAM 23/05/2023)

• EWEC, Zero Two announce largest single Clean Energy Certificates Purchase to date (WAM 23/05/2023)

• Masdar City completes LEED ratings for all Masdar Green REIT assets (WAM 23/05/2023)

• Thuraya, eSAT Global announce satellite IoT breakthrough with low-latency messaging (WAM 23/05/2023)

• EGA, bp to explore reducing CO2 intensity of EGA’s calcined petroleum coke supply (WAM 23/05/2023)

• Abu Dhabi closes two health facilities for safety violations (The National 23/05/2023)

• UAE economy to grow faster than global average in 2023 (Khaleej Times 23/05/2023)

• Dubai tops Middle East for meetings (Arabian Business 23/05/2023)

• UAE announces new tax updates 1 week before launch (Arabian Business 23/05/2023)

• Burjeel Holdings launches Advanced Gynaecology Institute in Abu Dhabi (Arabian Business 23/05/2023)

• Dubai real estate sales to hit AED300bn in 2023 as high-net-worth-individuals flock to city (Arabian Business 23/05/2023)

• NYU Abu Dhabi Report: Middle East can drive sustainable change through ‘Transition Investment’ Strategy (WAM 22/05/2023)

• Hamad Al Muhairi becomes first Emirati to head aviation security experts committee in ICAO (WAM 22/05/2023)

• UAE construction industry shows confidence despite global challenges (WAM 22/05/2023)

UAE Financial News

• A do it yourself guide to UAE corporate tax (The National 29/05/2023)

• UAE corporate tax to come into effect this week: Here is what you need to know (Khaleej Times 29/05/2023)

• Ministry of Finance issues Decision on Transitional Rules for Corporate Tax (WAM 26/05/2023)

• International credit rating agency Fitch affirms Ras Al Khaimah’s 'A' rating; Outlook ‘Positive’ (WAM 26/05/2023)

• UAE companies can adjust tax treatment of some assets before June 1 (The National 26/05/2023)

• What you need to know about the UAE's corporate tax (The National 26/05/2023)

• UAE announces rules on tax and real estate (Arabian Business 26/05/2023)

• 'Instant Cash' obtains Retail Payment Services, Card Scheme Regulation Licence from CBUAE (WAM 25/05/2023)

• Eight out of 10 women entrepreneurs in UAE tap into personal savings, survey finds (The National 25/05/2023)

• Visa, First Abu Dhabi Bank announces ‘She’s Next’ programme to uplift UAE women entrepreneurs (Arabian Business 25/05/2023)

• Islamic Banks' assets up to AED631.7b by end of February (WAM 24/05/2023)

• Ministry of Finance issues three new ministerial decisions relating to corporate tax (WAM 23/05/2023)

• ADIB becomes 1st UAE bank to provide instant a/c opening for SMEs via EFR technology (WAM 23/05/2023)

• CBUAE removes board of directors of insurance company (WAM 23/05/2023)

• S&P affirms Emirates Development Bank's 'AA-' credit rating with stable outlook (WAM 23/05/2023)

• Dubai's government debt burden to fall this year amid robust economic momentum, S&P says (The National 23/05/2023)

• ADFD's financing and investments totalling more than AED189.7b by end of 2022 (WAM 22/05/2023)

UAE Mergers & Acquisitions news

• EDGE acquires majority stake in MARS Robotics (WAM 23/05/2023)

UAE bilateral trade news

• High-level UAE delegation visits Czech Republic to enhance bilateral cooperation and sign Avoidance of Double Taxation Agreement (WAM 28/05/2023)

• Suhail Al Mazrouei leads UAE delegation to Development Road Conference in Iraq (WAM 28/05/2023)

• EDB signs MoU with Paraguay’s Development Finance Agency to boost collaboration (WAM 28/05/2023)

• UAE-Czech Business Forum convened to discuss enhancing joint cooperation, exploring additional trade and investment opportunities (WAM 28/05/2023)

• UAE, Poland discuss ways of enhancing financial and economic cooperation (WAM 26/05/2023)

• UAE, Japan sign defence cooperation agreement (WAM 26/05/2023)

• UAE-India partnership a driver for economic growth (WAM 25/05/2023)

• Investopia signs new partnership agreement with Confederation of Indian Industry (WAM 25/05/2023)

• Representatives from SAI and ADAA visit India to discuss cooperation (WAM 25/05/2023)

• DEWA CEO welcomes President of UAE Singapore Business Council (WAM 25/05/2023)

• UAE pavilion captures attention of visitors at 16th Langkawi International Maritime and Aerospace Exhibition (WAM 24/05/2023)

• Al Hussaini participates in Qatar Economic Forum 2023 (WAM 24/05/2023)

• France’s ENGIE invests AED44b in energy, water, green hydrogen projects in UAE (WAM 24/05/2023)

• CARACAL signs agreement with Malaysia-based Ketech Asia at LIMA 2023 (WAM 24/05/2023)

• US-UAE Partnership for Accelerating Clean Energy to support decarbonising Romanian power sector (WAM 24/05/2023)

• Sheikh Zayed Chair launched in Kuala Lumpur to foster collaboration (WAM 24/05/2023)

• UAE-France strategic partnership founded on mutual respect, shared goals (WAM 24/05/2023)

• AD Ports and Brazil's Vale to develop mega hub for steel industry in Abu Dhabi (The National 24/05/2023)

• Al Dahra Group signs strategic partnership and supply agreement with Estonia's Golden Fields (WAM 23/05/2023)

• Malaysian investors’ shares in UAE markets amount to AED55.4m (WAM 23/05/2023)

• Non-oil trade between UAE, Malaysia reaches AED160b over 10 years (WAM 23/05/2023)

• UK Business and Trade Secretary Kemi Badenoch visits Gulf to boost trade ties (WAM 23/05/2023)

• ADNEC Group showcases global event incentives at IMEX Frankfurt (WAM 23/05/2023)

• FAB and Alfanar collaborate for supply chain finance programme, boosting regional trade finance in KSA (WAM 23/05/2023)

• UAE one of most important Arab countries investing in Malaysia (WAM 23/05/2023)

• National Centre of Meteorology participates in World Meteorological Congress (WAM 23/05/2023)

• Maktoum bin Mohammed meets with President of Arizona State University (WAM 23/05/2023)

• UAE Ambassador meets Vietnamese Minister of Industry and Trade (WAM 23/05/2023)

• King of Malaysia welcomes Khaled bin Mohamed bin Zayed in Kuala Lumpur (WAM 23/05/2023)

• UAE and Malaysia agree to launch CEPA negotiations (WAM 23/05/2023)

• President Sheikh Mohamed receives senior Yemeni official (The National 23/05/2023)

• UAE national carriers operate 28 weekly flights to Malaysia (WAM 22/05/2023)

• Suhail Al Mazrouei, Malaysian counterpart discuss cooperation (WAM 22/05/2023)

• Khaled bin Mohamed bin Zayed meets Prime Minister of Malaysia in Kuala Lumpur (WAM 22/05/2023)

• UAE President and Prime Minister of Australia review bilateral ties (WAM 22/05/2023)

• DP World starts direct freight service between UAE and Iraq (WAM 22/05/2023)

Leading up to COP28 in the UAE (30th November - 12th December 2023)

• UAE's International Initiative of Law Enforcement for Climate garners international acclaim (WAM 28/05/2023)

• Italy affirms support for UAE's Cop28 plans to combat climate change (The National 26/05/2023)

• Bloomberg Philanthropies, IRENA announce COP28 partnership to help accelerate global energy transition

• IRENA Council assesses energy transition progress ahead of COP28 (WAM 23/05/2023)

• COP28 President-Designate calls for major boost to public and private climate finance for African nations (WAM 23/05/2023)

• UAE has repeatedly shown climate leadership, says OPEC Secretary General (WAM 22/05/2023)

• UAE hosting COP28 is a matter of 'tremendous pride for Opec', says Al Ghais (Khaleej Times 22/05/2023)

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Written by Jenny Hunt

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

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