FAB allots $1.3bn in financing

UAE’s FAB to provide $1.36bn in financing solutions to investors

The bank will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector

RTA

Dubai’s RTA unveils new parking signs with fee details and payment options

The latest statistics revealed that over 80 per cent of customers prefer to pay their service fees via mobile phones and smart tablets

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ADNOC L&S soars over 50% above listing price on ADX

ADNOC L&S expects to increase the annual dividend per share by at least 5 per cent per annum

midday break for outdoor workers comes into place June 15

UAE announces midday break timings for outdoor workers in summer

The midday break regulations start June 15 and will stay in place for a period of three months

UAE corporate tax_free zones

Corporate tax: UAE exempts free zones from business tax

The government said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate

Image WAM for illustrative purposes Abu Dhabi reduces speed limit on Sweihan road

Abu Dhabi: New speed limit announced for Sweihan Road from June 4

The speed limit will reduce from 140kmph to 120kmph from Sunday

Tamimi markets sells 30% stake to PIF

Saudi wealth fund PIF to acquire 30% stake in Tamimi Markets

The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering

Qatar real estate forum begins. Image: supplied

Qatar Real Estate Forum’s inaugural edition begins in Doha

The two-day forum brings together the real estate supply chain operating in Qatar under one roof

Amazon Saudi Riyadh Fulfillment Center Inauguration Image credit Amazon

Amazon launches new fulfillment centre in Riyadh

The facility spans 390,000 square feet across five floors – approximately the size of five football fields

satellite component by STRATA

Strata Manufacturing delivers MBZ-SAT satellite components to MBRSC

This partnership showcases the technological advancement in locally manufacturing satellite components as the UAE builds a space industry

Sultan Haitham City image credit Twitter Oman News Agency

Oman unveils plans to build Sultan Haitham City

The smart and sustainable city will cover an area of approximately 15 million square metres

Saudi-backed Lucid Air sedan

Saudi-backed electric car maker Lucid plans to raise $3bn

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

Dubai visit visa 10-day grace period removed-photo-courtesy Dubai Media Office

Dubai visit visa: 10-day grace period removed for travellers who overstay

Visitors who overstay their visa will have to pay a fine of Dhs50 per day

Dubai Healthcare Authority

Number of Dubai healthcare facilities jump 11.5% in Q1 2023: DHA

The healthcare facilities provide care across a range of medical specialities and sub-specialities

TAQA, ENGIE & EWEC desalination plant.jpeg

TAQA, ENGIE and EWEC close $620m financing for desalination plant

The plant will desalinate seawater using low-carbon intensive reverse osmosis technology to produce water sufficient to meet the demand of up to 210,000 households

PALM JEBEL ALI

Palm Jebel Ali greenlit by Sheikh Mohammed as part of Dubai 2040 Urban Plan

Palm Jebel Ali, in its scope is twice the size of the iconic Palm Jumeirah and is part of the portfolio of projects being developed by Nakheel

Dubai ICD posts record profit

Dubai wealth fund ICD records full year profit of Dhs36.1bn

The wealth fund said its banking and financial services division, the largest contributor in 2022, generated Dhs15.3bn in net profit

EDB finance deals

Make it in the Emirates Forum: EDB unveils Dhs424m in financing deals

The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors

PwC Middle East

PwC Middle East inaugurates regional headquarters in Riyadh

This comes as part of the firm’s broader commitment to the region to create 6,000 new jobs and continued investment in digital technology and ESG

orporate tax Image-by-WAM

Corporate Tax: MoF issues 3 new decisions, includes rules for determining taxable income

The new decisions will help determine taxable income in addition to providing tax relief for intra-group transfer of assets or liabilities between members of the same qualifying group

Make it in the emirates forum Dhs10bn in offtake agreements announced Image Credit MoIAT MIITE

Make it in the Emirates Forum: New offtake deals worth Dhs10bn announced

Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, announced more than 30 innovative industrial projects valued over Dhs6bn on the first day of the forum

Etihad

Qatar, Etihad, Emirates named among world’s top 10 airlines

Etihad Airways has won the title for ‘Environmental Airline of the Year 2023’ for the second consecutive year

CBUAE, HKMA partnership

CBUAE issues new AML guidance for financial institutions

The central bank’s guidance highlights the risks of dealing with virtual assets and virtual asset service providers and their business models

Beeah ISWA Roland Berger standard for recycling image ISWA Roland Berger

COP28: BEEAH, ISWA, Roland Berger to develop first certified global standard for recycling credits

Using blockchain technology, the new standard will authenticate and incentivise recycling activity globally, helping companies receive recycling credits and achieve sustainability targets

‘Make it in the Emirates Forum’ opens in Abu Dhabi

The two-day forum will showcase investment opportunities within the local industrial sector, product development and redirecting procurement towards the national economy

AD Ports ADRO sign MoU to support golden visa programme to attract talent image credit WAM

AD Ports Group, Abu Dhabi Residents Office to support golden visa programme

The partnership will develop a joint strategy to inform relevant parties and employees about the benefits of the golden visa residency programme, as well as the requirements for eligibility

Housing platform launch Darak. Image credit: MOI by WAM

UAE government launches national housing platform ‘Darak’

The platform aims is to help citizens by managing their housing construction projects and to reduce the burden of costs

UAE fuel

UAE fuel prices for June: Super 98, Special 95 rates revised

The UAE fuel price committee has slightly reduced the rates

Lumina’s role is to support UK companies

Flat6Labs Ignite programme spurs growth, backs 38 startups with $10.2m

The programme hosts an intake cycle every six months and has thus far completed four cohorts with the fifth cohort to be announced shortly

Dubai property market

Global HNWIs to pour $2.5bn in Dubai property in 2023: Knight Frank

The world’s wealthy have been increasingly targeting Dubai’s luxurious homes, primarily situated in the city’s most desirable districts