August 2022 — Topical news of the United Arab Emirates

August 12, 2022 no comments 69
Abu Dhabi National Oil Company (Adnoc) announced on Thursday the conclusion of a contract worth $1.17 billion (4.3 billion dirhams) for the lease of 13 self-propelled self-lifting barges to improve the efficiency of offshore operations and support the expansion of its crude oil production...

August 12, 2022 no comments 48
A new generation of Emirati passports will be issued from September 1, 2022, the Federal Office for Identification, Citizenship, Customs and Port Security (ICP) announced on Thursday. This represents a new technological leap in accordance with the instructions of the wise leadership to...

August 11, 2022 no comments 94
The Federal Office for Identification, Citizenship, Customs and Port Security (ICP) has stressed the need for customers to replace or update their identity cards upon marriage, since the wife's surname for some citizens living in the UAE changes after marriage. If the wife's surname has not...

August 9, 2022 no comments 142
The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE. The UAE is one of the first countries...

August 9, 2022 no comments 83
According to the report, the Dubai real estate market has recently shown strong growth, as the emirate ranked 4th in the world in terms of the growth in the cost of luxury housing in the first half of 2022. Prices for luxury real estate in Dubai increased by 4.7% during the first half...

August 9, 2022 no comments 82
Net income for first half of the year also surged more than 50% year-on-year Al Yah satellite communications company in Abu Dhabi (Yahsat) reported strong performance for the first half of the year since the beginning of the year: net profit increased by 50.7% year-on-year (YoY) to 167...

August 9, 2022 no comments 81
The sales included villas and apartments worth $164.04mln DUBAI - 376 purchase and sale transactions worth 897.38 million dirhams were registered on the Dubai real estate market on Monday, in addition to 122 mortgage transactions worth 704.22 million dirhams and 13 gift transactions...

August 9, 2022 no comments 78
Around $1trln in wealth, family businesses in region likely to be transferred to next generation within a decade Dubai International Financial Center (DIFC) is going to open a new center for global and regional family businesses, ultra-high net worth individuals (UHNWI) and private...

August 8, 2022 no comments 109
Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording an increase in visitor numbers of more than 183% compared to 2.52 million tourists visiting Dubai during the same period in 2021, according to the latest Dubai Department of Economy and...

August 8, 2022 no comments 93
Islamic Insurer seeks to write off accumulated loss The Board of the Dubai Islamic Arab Insurance Company (Salama) recommended reducing the capital by 398 million dirhams ($108 million) to write off accumulated losses. The share capital after the reduction will be US$ 790 million...

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