Abu Dhabi

UAE: Foreign direct investment inflows grew 3.9% in 2021 to Dhs76bn

The UAE aims to attract Dhs550bn worth of foreign investments to the country by 2030

Dubai’s DEWA raises $6.1bn in EMEA’s biggest IPO since 2019

The stock is expected to start trading in Dubai around April 12

Dubai’s Emirates to restart services to four destinations

The carrier will also ramp up passenger services to Nigeria, Mauritius and Singapore

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Dash Venture Labs launches a ‘startup guide for coders’ in the UAE

Coding and automation are new growth drivers and can play a pivotal role to promote digital economy across the globe

UAE reports 215 Covid-19 cases, 614 recoveries

The nationwide case count has risen to 892,929

Plastic bags

Abu Dhabi to ban single-use plastic bags from June 1

The Environment Agency – Abu Dhabi will also phase out single-use styrofoam cups, plates and food containers by 2024

AirArabia-Abu-Dhabi-

Air Arabia Abu Dhabi to begin flying to additional destination in India

The low-cost carrier will start flights to the capital of Rajasthan on May 5, 2022

Saudi’s Zakat, Tax and Customs Authority launches app to improve taxpayer experience

The ‘Zatca’ app is designed to be more effective in providing fast, reliable and high-quality services

UAE’s e& approves dividend of 40 fils per share for H2 2021

This has brought the total annual dividend to Dhs0.8 per share

Dubai Science Park

Gabri Labs to invest Dhs18m in new manufacturing facility in Dubai Science Park

The 10,000 sq ft facility will begin with an initial production volume of 12 million units per year

Kuwait

Kuwait cabinet resigns as parliament moves to oust premier

The prime minister had submitted his resignation letter to the country’s ruler

Abu Dhabi

Abu Dhabi’s non-oil real GDP grew 4.1% in 2021

Non-oil activities contributed 49.7 per cent of the GDP at constant prices last year

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Oman posts $545m budget surplus on higher oil prices, tax

Oman has implemented a series of reforms to bridge the budget gap and lower its debt, including the introduction of a 5 per cent value-added tax last year

UAE residence visas

UAE: Residents to no longer get visa stickers in passports

The Emirates ID card issued to all foreigners residing in the UAE will instead serve as the alternative to proving their residence status within the country

Dubai Aerospace Enterprise announces closing of $1bn revolving credit facility

The facility replaces other ones with near-term maturity dates

Emirates SkyCargo transports over 1 billion doses of Covid-19 vaccines during 18 months

Close to two-thirds of the one billion doses were transported to developing countries

UAE reports 244 Covid-19 cases, 441 recoveries

The nationwide case count has risen to 892,714

Aldar acquires land bank valued at Dhs3.68bn on Saadiyat Island

Aldar Properties plans to use the plot on Saadiyat Island for a mixed-use development project, which will have 2,700 units including villas

Dubai’s Emirates to ramp up services to Mauritius

The carrier is currently in its 20th year of operations to Mauritius

Dubai Future Foundation partners with Richemont to explore solutions for luxury retail sector

The innovative solutions will be developed as part of the Future of Luxury Retail challenge by participating startups at Area 2071

Citi to sell its consumer unit in Bahrain to Ahli United Bank

The transaction includes Citigroup’s retail-banking, credit-card and unsecured-lending businesses

Dubai London Clinic and Speciality Hospital opens new hospital

The new state-of-the-art hospital, which is located on Jumeirah Beach Road, is part of the Dubai London Hospital Group founded in 1987

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Saudi Aramco’s Luberef Refinery unit plans $1bn IPO

Luberef would be joining several Aramco subsidiaries already listed on the Saudi stock exchange

Saudi Arabia hikes oil prices further into record territory

More than 60 per cent of Saudi Arabia’s oil shipments go to Asia, with China, Japan, South Korea and India

Dubai Police to release 150 free NFTs available to people around the world

Dubai Police is the first government entity in the UAE to create its own digital assets

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai

Sheikh Mohammed issues new law regulating provision of digital services in Dubai

Government bodies and judicial authorities as well as non-government entities in Dubai are required to provide digital services to their customers

UAE reports 300 Covid-19 cases, 621 recoveries

The nationwide case count has risen to 892,470

Dubai Financial Services Authority

Dubai Financial Services Authority signs MoU with Central Bank of Mauritius

The agreement will facilitate knowledge exchange on technologically enabled financial innovation

Saudi’s PIF, stc Group sign agreement to establish new IoT company

The JV agreement is part of PIF’s and stc’s efforts to drive rapid growth of Internet of Things across Saudi Arabia

UAE developer FAM Holding plans Abu Dhabi second market listing

The company has been converted into a private joint-stock firm with a capital base of Dhs50m