Home GCC UAE

UAE

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

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

electric car

Global electric vehicle transformation project launched for the UAE

The launch of the Global EV Market is in line with the country’s objective to transition to net zero and set itself up as a global electric vehicle hub

UAE upcoming public holiday

Corporate tax: UAE announces rules on tax grouping and interest capping

The decision further clarifies the conditions under which UAE resident entities that are 95 per cent or more commonly owned can form or join a tax group and be treated as a single entity

protected areas

Abu Dhabi issues policy for protected areas

More than 15 government, semi-government and private agencies have participated in preparing and reviewing the policy to ensure its alignment with the relevant national and local strategies

UAE corporate tax

Countdown to UAE Unemployment Insurance scheme: June 30 deadline nears

The grace period to register for the government-mandated unemployment insurance scheme runs out in a month

Tabreed forays into India

UAE’s Tabreed invests Dhs44m in TATA Realty’s Intellion Park

The Dubai-listed firm will acquire the existing cooling infrastructure at the Intellion Park development, which covers a total area of 3.5 million square feet

Air Baltic, the flag carrier of Latvia (Image: Sourced from Press Gallery on Air Baltic website)

Air Baltic opens bookings for Dubai-Vilnius flights

From November 1, the airline will operate twice weekly services between the two destinations as part of its winter schedule

F1 Team Stake

Alfa Romeo F1 Team Stake launches partnership with Aioka

As part of the new partnership, Aioka will enhance the team’s offer to guests, as well as to corporate groups and individuals

food security through IFPA

The UAE is the new headquarter of International Islamic Food Processors Association

IFPA works to promote intra-OIC trade and investment between agri-food private-sector businesses across the entire ecosystem and food supply chain in member states

Dubai taxi sector image RTA twitter

Dubai taxi sector achieves 27 million trips in Q1 2023

The taxi sector in Dubai showed 6 per cent growth during the first quarter of 2023

Dubai DET announces that Holiday Homes to have qr codes going forward image credit Dubai Media Office

Holiday homes in Dubai now need QR codes on entrances, here’s why

This code enables visitors and guests to conveniently scan it and access essential information about the operator of the holiday home and the relevant contact details for the Department of Economy and Tourism

space mission

UAE announces space mission: MBR Explorer to tour asteroid belt

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai announced the follow up space mission scheduled to launch in 2028

DEWA commissions new reservoir (1)

DEWA commissions 60 MIG Lusaily water reservoir

The utility firm is currently working on three other reservoir projects in Nakhali, Hassyan and Hatta in addition to the newly commissioned reservoir

Kemi Badenoch in UAE for trade talks

UK trade secretary Kemi Badenoch rounds off Gulf trip with visit to the UAE

The British trade secretary’s visit to the UAE focused on growing bilateral economic relations and creating momentum for a UK-GCC trade deal

Dubai exchange launches futures contracts

Dubai bourse launches futures contracts on general index

The futures contracts will help investors effectively hedge against market volatility and make profitable trades

Jassem Busaibe - Chief Executive Officer at Aldar Investment Image Aldar Properties

Aldar acquires Basatin, expands facility management, landscaping services offering

Through this transaction, which is valued at Dhs150m, Aldar will hold a majority stake of 75 per cent in Basatin with the remaining 25 per cent held by a strategic partner

Dubai customs

Dubai Customs brings in customised x-ray scanning system

The new installation will speed up clearance operations for heavy and light vehicles, equipment, and yachts at the Jebel Ali and TECOM Customs Centre

UAE and Poland seeks to bolster ties

UAE, Poland seek to strengthen financial and economic ties

The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy

Housing programme _ Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai image credit: Dubai Media Office

Sheikh Mohammed approves Dhs1.6bn in housing loans

Housing loans for 2,000 Emiratis were approved under the Sheikh Zayed Housing Programme