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

hydrogen

Saudi Arabia wants to have buses running on hydrogen next year

By mid-2024, Neom will be making hydrogen for vehicles such as buses and trucks, Dave Edmondson, CEO of Neom Green Hydrogen, said in Dubai

Olam Group postpones IPO of Olam Agri

Olam Group delays listing agri unit on Saudi Exchange

The company will continue to pursue the IPO of Olam Agri at the next practical window without providing any approximate time frame

Abdulla Almoayed of Tarabut Gateway image Tarabut Gateway

Tarabut Gateway completes Saudi open banking certification

These developments follow the $32m Series A fundraise and partnership with Visa aimed at strengthening its presence in the Saudi market

SRC CEO Fabrice Susini image credit SRC twitter

PIF’s Saudi Real Estate Refinance Company completes latest sukuk issuance of SAR3.5bn

This is the sixth tranche under SRC’s upsized SAR20bn sukuk programme

saudi astronauts

Saudi astronauts depart space station, to splashdown in Atlantic Ocean

The Saudi Space Commission announced the successful separation of the SpaceX spacecraft carrying the two Saudi astronauts from the ISS

First Mills IPO on Saudi Exchange

Saudi First Mills’ $266.4m IPO attracts bids worth $18bn

The milling company said big investors placed orders worth SAR68.8bn, almost 69 times more than was available to them

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

S&P Global affirms positive outlook on Bahrain

S&P Global affirms rating, positive outlook on Bahrain

The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures

Arabsat BADR-8 launch Image credit Arabsat

Arabsat launches Badr-8 satellite, in partnership with Airbus and SpaceX

The 7th generation satellite successfully lifted off from launch complex 40 at Cape Canaveral air force station

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

Saudi SEZs

New Saudi SEZs attract $12.6bn from maritime, mining, manufacturing, logistics sectors

The Saudi SEZs offer competitive corporate tax rates, exemption from customs duties on imports, production inputs, machinery and raw materials, and 100 per cent foreign ownership of companies

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