South Korean president arrives in UAE on Jan 14, 2023 pic courtesy WAM

South Korea’s President Yoon Suk Yeol arrives in UAE on state visit

The South Korean President was received by Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Minister of Foreign Affairs and International Cooperation

UAE President Sheikh-Mohamed bin Zayed Al Nahyan issues law to establish Abu Dhabi Media Office _photo WAMcourtesy

UAE President issues law establishing Abu Dhabi Media Office

The new entity will form strategic partnerships with local, regional, and international media organisations to advance Abu Dhabi’s media sector

Avalon Properties CEO Ahmad Ibrahim

Dubai’s real estate sector had a remarkable year in 2022, says Avalon Properties’ CEO

Avalon Properties also experienced robust growth during this period, growing its operations across the UAE, covering Abu Dhabi, Dubai, and Sharjah

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank was an anchor investor in Credit Suisse’s capital raise and now holds 9.9 per cent in the firm

Dubai Police's first all-women SWAT team photo courtesy Dubai Police_facebook

Dubai Police reveals first all-women SWAT squad

Female officers are breaking the norm by conquering specialisations that were dominated by men, says Dubai Police commander-in-chief

UAE president meet Pakistan head of state courtesy WAM

UAE President receives Pakistan PM, leaders discuss cooperation

The leaders also witnessed the announcement of three memoranda of understanding

Nafis

Sheikh Mansour bin Zayed reviews NAFIS’ 2022 results and 2023 Emiratisation targets

NAFIS data shows that the number of UAE nationals who joined the private sector since the launch of the programme reached more than 28,700 by the end of 2022

Ferrari

Ferrari World Abu Dhabi’s new mega-coaster is now open to public

Mission Ferrari brings the park’s offerings to over 44 Ferrari-inspired attractions

Mubadala

Mubadala, US-based Resilience to manufacture biopharma in UAE

As part of the agreement, Mubadala will construct the new facility, where Resilience will manufacture biopharmaceutical-related products

Saudi wealth fund joins $930m pre-IPO bet on Korean anime giant

Saudi Arabia has been beefing up investment and business ties with Korean companies, becoming a major shareholder of NCSoft Corp as well as Tokyo-listed Nexon Co

UAE residence-visa

UAE golden visa: 79,617 visas issued in 2022, says GDRFA

The General Directorate of Residency and Foreigners Affairs in Dubai processed over 62.24 million transactions last year

Central-Bank-of-the-UAE

UAE Central Bank issues new anti-money laundering guidelines

The new guidelines involve the use of digital ID systems by LFIs to address their customer due diligence obligations

Qatar tourism Mwani cruise season

Qatar to welcome 200,000 visitors in 2022-23 cruise season

Qatar Tourism and Mwani Qatar have forecast the arrival of more than 50 cruise liners until April

Visitor

Ras Al Khaimah records highest visitor numbers in 2022

The full-year figures follow a strong December performance in which the emirate welcomed its highest ever footfall in one month, with over 128,000 visitors

Red Sea project render

Saudi Arabia: The Red Sea to join exclusive Serandipians’ luxury network

Upon completion in 2030, The Red Sea will comprise 50 resorts, offering up to 8,000 hotel rooms and over 1,000 residential properties across 22 islands and six inland sites

ADNOC

Abu Dhabi’s ADNOC sets up new gas processing, operations and marketing entity

ADNOC Gas will serve domestic and international customers with an expanding portfolio of gas products

Saudia

Saudia opens airport operations building in Jeddah

The mini terminal includes artificial intelligence-powered self-boarding kiosks and five luggage carousels as well as 15 meeting rooms for pre-flight cabin crew briefings

Qatar

Qatar launches first commercial charter flight to and from Kazakhstan

The nation has identified Kazakhstan as one of 15 target markets where tourists can relax, rejuvenate and enjoy Qatar’s vibrant culture

Olam Group plans to list agribusiness unit in Saudi Arabia

Olam Group plans to list agribusiness unit in Saudi Arabia

The proposed initial public offering of Olam Agri in Saudi Arabia would be the first listing of a global company in the country

Investcorp

Bahrain’s Investcorp set to invest $1bn in GCC real estate over five years

Investments worth $100m are under consideration in Saudi Arabia

Hajj pilgrim restrictions lifted

Saudi Arabia scraps restrictions on Hajj pilgrim numbers, age limit

People visiting the kingdom with an Umrah visa can now visit any city in Saudi Arabia, and any visitor to the country will be allowed to perform Umrah at any time

PIF adds Diriyah project to its portfolio

Saudi Arabia’s PIF announces Diriyah as its fifth giga project

The sovereign wealth fund’s other giga projects include NEOM, Red Sea, Qiddiya and Roshn 

CBUAE

Gross bank assets rose to Dhs3.58tn by end of Oct 2022, reveals Central Bank of UAE

The central bank attributed the increase in domestic credit to the increase in credit granted to the public and private sectors

DFM and DWTC to host IPO summit in Dubai

Dubai Financial Market, DWTC set to host first MENA IPO Summit – Dubai

The inaugural summit will take place from January 23-25 at The Museum of the Future

Dubai Chamber of Commerce establishes Medical Labs & Diagnostic Centres Business Group

The establishment of the business group plays a crucial role in recommending policy changes to improve the sector’s competitiveness

Sheikh Hamdan and Sheikh Maktoum review roadmap for D33 implementation_photo courtesy_Dubai Media Office

Dubai: Sheikh Hamdan, Sheikh Maktoum review roadmap for D33, first 10 projects

The first phase of D33 projects includes launching the Dubai Green and Sustainable Industry Plan

rain in dubai work from home

Heavy downpours hit Dubai and parts of UAE on Saturday, chance of rainfall on Sunday

There’s a chance of light to moderate rainfall across some areas in the UAE on January 8

UAE police arrest international trafficker photo courtesy twitter-interpol

UAE arrests kingpin of major human trafficking ring

The UAE worked closely with Interpol and local police in Sudan for the operation to nab the Eritrean criminal and members of the human trafficking ring

Dubai real estate courtesy Dubai Media Office

Dubai records real estate transactions valued at Dhs10bn during the week

Al Hebiah Fifth recorded the most transactions for this week with 133 sales transactions worth Dhs386.38m

Dubai_ new Customs duty on international purchases

Dubai levies new custom duty on international shopping over Dh300 from Jan 1

Residents shopping internationally will have to pay 5 per cent import customs duty and 5 per cent value-added tax on purchases