vfs

Summer beckons: A quick visa guide by VFS Global

Monaz Billimoria, deputy regional head – UAE and Qatar at VFS Global, discusses all things visa with Gulf Business ahead of the summer holidays

Rapyd DIFC

Fintech Rapyd becomes first DIFC-registered Israeli company

The company plans to hire 120 employees in Dubai across the R&D, product, operations and HR departments within the next 18 months

Dubai-Internet-City Tecom Group

Tecom Group to list 12.5% of shares on Dubai Financial Market

The company expects to pay a dividend amount of Dhs800m per annum over the next three years

Oil prices

Oil prices are ‘nowhere near’ peak yet, says UAE minister

The UAE is the third largest producer in OPEC

Midday work break in the UAE to start from June 15

Under the rule, working under direct sunlight will not be allowed between 12.30-3pm

DEWA

DEWA builds three water reservoirs worth Dhs550m in Dubai

These will include one in Nakhali area with a storage capacity of 120 MIG, Lusaily area with a storage capacity of 60 MIG and in Hatta with a storage capacity of 30 MIG

Covid-19

UAE reports 867 Covid-19 cases, 637 recoveries

The nationwide case count has risen to 912,953

Qatar expansion

Julius Baer to expand into Qatar to drive regional expansion

Julius Baer has hired Slim Bouker, Doha Bank’s head of private banking, to oversee the expansion

Private Schools

Fees fact sheet now available for all private schools in Dubai

The fact sheet includes all fees a school may charge during an academic year

UAE Monkeypox

UAE detects five new cases of monkeypox

The ministry called for obtaining information from official sources in the UAE

UAE and Japan strengthen bilateral ties in various sectors

The meetings focused on UAE’s preparations to host COP28 in 2023 and strengthen economic, energy and industrial cooperation between the two countries

Gupta Brothers accused of defrauding South Africa arrested in Dubai

The Dubai police made the arrests after receiving a red notice for the Gupta brothers from Interpol

Dubai Chamber Israel meeting

Dubai International Chamber to open representative office in Israel

Dubai International Chamber has identified the Israeli market among its top 30 priority markets

Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange’s market capitalisation hits $545bn

The market value of shares owned by foreign investors in Q1 2022 jumped 163 per cent to total Dhs131bn

Abu dhabi judicial

Abu Dhabi Judicial Department launches auction app to bid directly

The app also has the ability to bid directly from a distance and complete all procedures in easy steps, in accordance with established legal procedures

Covid-19 cases July 25

UAE reports 572 Covid-19 cases, 530 recoveries

The nationwide case count has risen to 912,086

Indonesian government

Indonesian government lists two sukuk valued at $3.25bn on Nasdaq Dubai

The Indonesian government is one of the largest sukuk issuers on Nasdaq Dubai

Toufic Kreidieh, Co-founder and CEO of Brands For Less Group

Brands For Less’ Toufic Kreidieh on the company’s recent expansion

The co-founder and CEO spoke to Gulf Business about the company’s recent expansion to Qatar and other key retail trends in the region

Emirates

Dubai’s Emirates, South Africa’s Airlink activate codeshare partnership

Emirates currently offers double daily flights to Dubai from Johannesburg, daily flights to Dubai from Cape Town and five weekly flights to and from Durban

Jordan

Saudi wealth fund’s $3bn Jordan unit aims to ramp up deals

The investment is expected to create more than 5,000 jobs and will be the first of several deals announced by the fund over the next year

Sheikh Mohammed launches school model offering free education

The Generation Schools will adopt national curricula supervised by Emirates Schools Establishment, the tuition fees will be fully covered by the government

DP World

Canada fund CDPQ to invest $5bn in DP World’s Dubai assets

The Montreal-based pension manager will take a 22 per cent stake in DP World’s Jebel Ali Port, Jebel Ali Free Zone and the National Industries Park

Covid-19

UAE reports 579 Covid-19 cases, 476 recoveries

The nationwide case count has risen to 911,514

Campaign Saudi Briefing

Campaign Saudi Briefing 2022: Vision and Ambition is coming to Riyadh

For the first time in Campaign Middle East’s 14-year history, the publication is taking the ‘Breakfast Briefing’ format on the road to Saudi Arabia

Inflation doesn’t stop UAE’s biggest business upswing this year

The rate of job creation in UAE was the quickest in seven months despite the inflation

World Environment Day: Scaling a circular economy

We look at some companies in the UAE that have championed a circular economy, while promoting sustainability and conscious consumerism

Sheikh Mohamed bin Zayed Al Nahyan has ordered the completion of all housing grant applications submitted in previous years through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3b

Sheikh Mohamed bin Zayed orders completion of pending housing grant applications

The President has ordered the completion of all housing grant applications through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3bn

Public Investment Fund

Saudi wealth fund to take $185m Jordanian bank stake

The Public Investment Fund signed a subscription agreement that would involve it buying 63 million newly issued shares

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

landfills

Dubai Airports’ new initiative to divert 60% of DXB’s waste from landfills by mid-2023

The food waste plan was created in partnership with Sharjah’s Beeah Group