Category: UAE News

  • Israel FM to visit UAE in first official tour

    Israel FM to visit UAE in first official tour

    Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan to host Lapid his two-day visit from June 29-30, reports Asian Lite News

    Israel’s Foreign Minister Yair Lapid will visit the United Arab Emirates, in the first official ministerial visit since the two nations agreed to normalise ties.

    Israel and the UAE, along with Bahrain, normalised ties in September, and the Jewish state also last year agreed to normalise relations with two other Arab nations, Morocco and Sudan.

    “Foreign Minister Yair Lapid will hold the first and historic official visit of an Israeli Foreign Minister to the UAE,” a statement read.

    He will be hosted by Emirati Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan on his two-day visit from June 29-30, it added.

    Lapid is the architect of a coalition government in Israel that came to power on June 13, ousting long serving prime minister Benjamin Netanyahu, who presided over last year’s normalisation accords.

    Israeli ministers have previously visited the UAE, but Lapid is the most senior Israeli to make the trip, and the first to travel on an official journey.

    “Ties between Israel and the UAE are an important relationship, the fruits of which will be enjoyed not only by the citizens of the two countries, but by the entire Middle East,” the statement added.

    ALSO READ: Israel warns against travel to UAE

    Lapid will inaugurate the Israeli Embassy in Abu Dhabi, as well as the Consulate General of Israel in Dubai.

    In October 2018, Miri Regev, then Israel’s Minister of Culture and Sports, travelled with the national judo team to Abu Dhabi, but it was not an official visit.

    Another Israeli minister, Ayoub Kara, then Minister of Communications, spoke in October 2018 at an international conference on telecommunications in Dubai.

    In March, a planned official prime ministerial visit to the UAE by Netanyahu was cancelled due to a “dispute” with Jordan over the use of its airspace, according to Israeli officials.

    Netanyahu — replaced as prime minister by Jewish nationalist Naftali Bennett in Israel’s new government — had already postponed in February a visit to the UAE and Bahrain, amid travel restrictions imposed to stem the coronavirus pandemic.

    Israel’s normalisation accords with the UAE, Bahrain, Morocco and Sudan — known as the Abraham Accords — were last year brokered by then US president Donald Trump’s administration.

    Israel has already signed a raft of deals with both UAE and Bahrain, ranging from tourism to aviation and financial services.

    On Monday, the Israel-based i24News television network said it would open an office in Dubai, a first for an Israel-based media outlet.

    The normalisation accords have been condemned by the Palestinians as they break with years of Arab League policy which has held that there should be no relations with Israel until it makes peace with the Palestinians.

    ALSO READ: Israel president set to meet Biden before retiring

  • Dubai court appoints experts to oversee Arabtec’s liquidation

    Dubai court appoints experts to oversee Arabtec’s liquidation

    The decision was taken after the court appointed a panel to analyse the bankruptcy application….reports Asian Lite News

    Arabtec Holding’s bankruptcy plea has been accepted by a Dubai court. The construction company behind iconic structures such as the Burj Khalifa and the Louvre Abu Dhabi, had submitted a petition to the court, following the company’s former group CEO Wail Farsakh’s resignation in February 2021.

    The decision was taken after the court appointed a panel comprising seven experts to analyse the bankruptcy application.

    In a statement to Dubai Financial Market (DFM) on Monday, the company said that the court has appointed a trustee for each entity, to publish the bankruptcy decision of each one, review its debts, deposit a list and a record of its creditors and “conduct all the procedures stipulated under the Bankruptcy Law within 35 days from the date of the appointment notification”, reported Arabian Business.

    @DubaiCourts

    Arabtec Holding’s subsidiaries include – Arabtec Construction, Austrian Arabian Readymix Concrete Co. LLC, Arabtec Precast LLC, Arabtec Constructions LLC and Emirates Falcon Electromechanical Co. (EFECO LLC).

    While on December 17, the company, which was valued at about AED30 billion ($8.17bn) at its peak in 2014, said it and some of its subsidiaries had filed for insolvent liquidation pursuant to the resolutions of its shareholders on September 30 and November 30.

    The court has scheduled the next hearing for July 26 to follow up on the procedures taken by the trustees.

    Arabtec shareholders had authorised the board of the Dubai-listed construction company to file for liquidation in September 2020. This was due to its untenable financial position following the fallout from the coronavirus pandemic.

    ALSO READ: Dubai records real estate deals worth AED11.11 bn in May

  • UAE Celebrates International Day of Yoga

    UAE Celebrates International Day of Yoga

    The Indian Embassy in UAE celebrated the 7th International Day of Yoga in Abu Dhabi themed ‘Yoga for Wellness’ in a first-of-its-kind gathering since the start of the pandemic, with guest of honour Sheikh Nahyan bin Mabarak Al Nahyan, Minister of Tolerance and Coexistence, reports Asian Lite News

    Ancient sciences of Ayurveda and Yoga had made India proud and are especially relevant now, said Indian Ambassador to the UAE Pavan Kapoor ahead of International Day of Yoga.

    The Indian Embassy in UAE celebrated the 7th International Day of Yoga in Abu Dhabi themed ‘Yoga for Wellness’ on Saturday at the Lawns of Ritz Carlton.

    The first of its kind in person event amidst the ongoing Covid-19 pandemic was attended by more than 100 Yoga enthusiasts, with UAE’s Minister of Tolerance & Coexistence Sheikh Nahyan bin Mabarak Al Nahyan as the Chief Guest.

    Sheikh Nahyan while congratulating the Embassy for having successfully organised the event stated that it was indeed ‘a new beginning and a ray of hope’. He stressed on the need to remain vigilant and follow all health protocols to ensure safety for all.

    While elaborating on the multiple benefits of Yoga he said that it is easily accessible to all, and could be done almost anywhere without any special equipment and that it best symbolised Tolerance and Coexistence.

    All the participants and the supporting staff of the event strictly adhered to the safety norms laid down by the Abu Dhabi Government. Everyone present at the event had already received 2 doses of Covid -19 vaccine and had tested negative on RT-PCR test less than 48 hours ago. In addition, the participants wore masks at all times and maintained a safe distance of 2 metres.

    Ambassador Pavan Kapoor thanked Sheikh Nahyan for his continued support for yoga, for India and for the Indian community in the UAE. He appreciated UAE’s successful vaccination drive and strict compliance of Covid-19 protocols that made a limited public event possible after a long time.

    He expressed his sincere gratitude to the UAE authorities for the continued support to annual Yoga events since its inception in 2014, according to a press release issues by the Indian Embassy.

    Kapoor explained the salience of the theme ‘Yoga for wellness’ chosen for 7th International Day of Yoga reflecting on the importance of holistic health in pandemic times. He added that the ancient sciences of Ayurveda and Yoga had made India proud and were especially relevant now as we observe India@75 or ‘Azadi ka Amrit Mahotsav’ to mark 75 years of India’s independence.

    The event which was also broadcast live across Embassy’s social media handles witnessed various facets of Yoga including laughter Yoga and various ‘Aasanas’ demonstrated by Yoga Gurus and experts, with an active participation of the attendees.

    An Ayurvedic kit consisting of Ayurvedic products of daily use was also gifted to all the guests.

    Qatar celebrates Yoga in 6 cities

    Joining the world on seventh International Yoga Day (IYD) on Monday, six cities of Qatar have celebrated the the day.

    The areas in the cities, which celebrated Yoga Day included the Asia Town (labour camp), the sand dunes of Mesaieed, the Monarch International Indian School in Al Wakra, the FIFA 2022 Stadium Al Bayt in Al Khor, the beaches of Dukhan, and the Iconic Museum of Islamic Art and the Corniche of Doha city.

    It is the first time that the International Yoga Day event was simultaneously organised at different locations in Doha.

    This year, the theme of the occasion is ‘Yoga For Wellness’, and will focus on practicing Yoga for physical and mental well-being.

    Since 2014, the occasion has been observed in mass gatherings in different parts of the country.

    The observation of Yoga Day is a global activity and the preparatory activities normally start 3-4 months prior to June 21. Millions of people are introduced to Yoga in the spirit of a mass movement as part of Yoga Day observation every year. (with inputs from ANI)

    ALSO READ: Emirates to resume India-UAE flights from Wednesday

  • Dubai Airports to reopen Terminal 1 on June 24

    Dubai Airports to reopen Terminal 1 on June 24

    The reopening of the facilities will enable the gradual return of 40 plus international carriers that are currently operating at Terminals 2 and 3 back to their home terminal at DXB….reports Asian Lite News

    Dubai Airports has announced that it will reopen Dubai’s International’s Terminal 1 and Concourse D on 24th June. The facilities were closed on 25th March 2020 following the partial suspension of operations at DXB to control the spread of Covid-19.

    Welcoming the reopening of Terminal 1 as an important step in preparing to accommodate the anticipated growth in travel demand in the coming months, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports, said, “Dubai’s aviation sector has been at the forefront of a global campaign to restore vital international air services with the opening of quarantine-free travel corridors between the UAE and multiple countries around the world.

    “This move signals our confidence that the outlook for the rest of the year and beyond is one of optimism, as well as being a clear indication of Dubai’s intent to lead the aviation industry to enable social and economic world recovery. This reopening is a collaborative effort of the many stakeholders involved in the operation of the world’s largest international airport and we are delighted to be able to make this important step towards the restoration of full airport operations.”

    The reopening of the facilities will enable the gradual return of 40 plus international carriers that are currently operating at Terminals 2 and 3 back to their home terminal at DXB.

    Dubai Airports has advised passengers to confirm their terminal of departure and arrival with their airline before coming to the airport as the transition will be managed in several stages, with the plan for the relocation to be completed by the end of June.

    Opened in February 2016, the $1.2 billion Concourse D is linked to Terminal 1 by an airport train, and the combination of these two facilities provide world-class service levels for an annual capacity of 18 million passengers.

    ALSO READ: Dubai firm uses solar power to make water out of air

  • Emirates to resume India-UAE flights from Wednesday

    Emirates to resume India-UAE flights from Wednesday

    Passenger should also present a negative test certificate from a PCR test taken 48 hours before departure….reports Asian Lite News

    As Dubai eases travel curbs for passengers from India, Emirates airline said it will resume flights connecting India, South Africa and Nigeria to the city from June 23.

    “Emirates welcomes the latest protocols and measures announced by Dubai’s Supreme Committee of Crisis and Disaster Management to allow the safe resumption of passenger travel from South Africa, Nigeria and India to Dubai and onwards,” said the airline’s spokesperson in a statement.

    On Saturday, the Supreme Committee of Crisis and Disaster Management in Dubai said that the passengers from India with a valid residence visa who have received two doses of a UAE-approved vaccine will be allowed to travel to Dubai.

    They should also present a negative test certificate from a PCR test taken 48 hours before departure.

    We will resume carrying passengers from South Africa, Nigeria and India in accordance with these protocols from 23rd June,” said Emirates.

    “We thank the Supreme Committee for their continuous efforts in monitoring the development of the situation and announcing the appropriate guidelines and protocols to protect the community and safeguard the travel sector,” it added.

    Emirates had suspended passenger flights from India effective until July 6, 2021.

    However, UAE nationals, holders of UAE Golden Visas, and members of diplomatic missions who comply with the revised published Covid-19 protocols were exempted from these travel restrictions.

    ALSO READ: UAE suspends flights from Liberia, Sierra Leon, Namibia

  • UAE suspends flights from Liberia, Sierra Leon, Namibia

    UAE suspends flights from Liberia, Sierra Leon, Namibia

    The travel suspension includes inbound transit passengers with the exception of transit flights coming to the UAE and heading to these countries…reports Asian Lite News

    The General Civil Aviation Authority (GCAA) and the National Emergency Crisis and Disasters Emergency Management Authority (NCEMA) have announced the suspension of all inbound flights for national and international carriers coming from Liberia, Sierra Leon, and Namibia, effective 23:59 on Monday, June 21st.

    The travel suspension includes inbound transit passengers with the exception of transit flights coming to the UAE and heading to these countries, the GCAA said in a statement on Saturday.

    The GCAA indicated that it is required for those coming from Liberia, Sierra Leon, and Namibia through other countries that the period of their stay in the latter countries is not less than 14 days to be allowed access to the UAE.

    Cargo flights between these countries and the UAE will continue, as usual, the statement added.

    India-UAE flights to remain suspended until June 30

    The GCAA affirmed that UAE nationals, their first-degree relatives, diplomatic missions between the UAE and the three countries, official delegations, businessmen’s planes -after getting prior approvals- and golden and silver residency permit holders, in addition to the holders of essential jobs according to the classification of the Federal Authority for Identity and Citizenship (ICA) and the staffs of UAE embassies in the three countries are excluded from this decision, provided that they should take preventive measures that include a mandatory 10-day quarantine and a PCR test at the airport as well as another test on the fourth and eighth days of entering the country.

    According to the decision, the period of the required PCR test is reduced from 72 hours to 48 hours, provided that the tests are issued by accredited laboratories and carrying the QR Code.

    This comes in response to the proactive precautionary and preventive health measures issued by all authorities concerned in the country to limit the spread of the COVID pandemic-19, the statement added.

    The authority called on all travellers affected by the decision to follow up and communicate with the airlines to amend and schedule their flights and to ensure their safe return to their final destinations without any delay or other obligations.

    ALSO READ: Danube Chief Lauds UAE Policy

  • Dubai firm uses solar power to make water out of air

    Dubai firm uses solar power to make water out of air

    The new technology uses solar energy to power a fan that draws in air, which then goes through a sponge-like material where water molecules are absorbed….reports Asian Lite News

    A Dubai-based company is using solar energy to produce water out of air. Source Global, which was established in Dubai in 2017, recently introduced sun-powered hydro-panels to make clean drinking water.

    It is aiming to get 75 percent of its energy use from clean sources by 2050, CNN reported.

    “These hydro panels are effectively producing high quality drinking water day in, day out without requiring any infrastructure, any power or any type of grid,” the company’s Vice President Vahid Fotuhi told CNN in an interview.

    The new technology uses solar energy to power a fan that draws in air, which then goes through a sponge-like material where water molecules are absorbed.

    Source Global, which operates in 48 countries, chose Dubai to develop its biggest water farm because of the emirate’s keenness to invest in innovation, Fotuhi said.

    “First of all, the fact that it is a hub for the Middle East Africa region, it also is a center for new innovations for key sectors, such as agriculture and water,” he explained.

    Technologies that turn air into water are not new, but Fotuhi said they want to make it more sustainable by adopting a clean energy strategy.

    Experts said the challenge with these technologies is distribution, but Source Global thinks getting people on board harder.

    People here are accustomed to a staple solution for water generation and what we’re proposing is kind of diversified menu effectively,” he said. “As with most disruptive technologies, initially people are hesitant to change.”

    ALSO READ: Dubai records real estate deals worth AED11.11 bn in May

  • Dubai records real estate deals worth AED11.11 bn in May

    Dubai records real estate deals worth AED11.11 bn in May

    A total of 20,989 real estate sale transactions were recorded from January to May worth AED 47.19 billion…reports Asian Lite News

    The number of real estate transactions in the Emirate of Dubai in May 2021 reached 4,429, the highest total sales transaction values since March 2017 in excess of AED11.11 billion, with a growth of 1.4 percent compared to last April.

    A total of 20,989 real estate sale transactions were recorded from January to May worth AED 47.19 billion, according to Mo’asher, Dubai’s official sales price index.

    It added that Dubai’s real estate market has achieved a new record, the highest over the past four years in terms of the value of real estate sales transactions, thus highlighting the emirate’s attractiveness and flexibility in attracting real estate investments, and emphasising Dubai as one of the best global real estate destinations and the most capable of adapting to various conditions and global developments.

    The 15th edition of price index, launched by Dubai Land Department (DLD), in cooperation with Property Finder, shows that May 2021 had the highest total sales transaction values since March 2017 in excess of AED11.11 billion, with a growth 1.4 percent compared to last April.

    The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012. In May 2021, the overall monthly Index recorded 1.071 and an index price of AED 1,007,529, the apartments monthly Index recorded 1.085 and an index price of AED 904,476 and the villas/townhouses monthly Index recorded 0.993 and an index price of AED 1,773,164.

    The total number of sales transactions grow by 215 percent and the total value of sales transactions by 357 percent since May 2020. To break this down, the off-plan market sales transactions volume grew by 74 percent since last year, and the secondary market, which has been in high demand since the pandemic started, has grown by over 466 percent .

    Dubai hotels to comply with sustainability requirements

    In May 2021, 62 percent of all transactions were for secondary/ready properties in May 2021 and 38 percent were for off-plan properties. In addition, 77 percent of sales transactions were for apartments and 23 percent were for villa/townhouses. When we look at the volume of transactions, the off-plan market transacted 1,674 properties worth AED 2.58 billion and the secondary market transacted 2,755 properties worth AED 8.53 billion.

    In the villas/townhouses sector, 10.1 percent of all sales in May 2021 took place in Mohammed bin Rashid City, followed by Dubailand (7.6 percent), Dubai Hills Estate (7.4 percent), Arabian Ranches 3 (6.5 percent) and Town Square (6.4 percent). Looking at apartments, 10.8 percent of all sales transactions took place in Jumeirah Lake Towers, followed by Dubai Marina (9.2 percent), Jumeirah Village Circle (8.6 percent), DownTown Dubai (7.4 percent), and Business Bay (5.7 percent) according to data from Property Finder.

    According to proprietary Property Finder demand data, the top areas of interest in terms of searches for villas/townhouses in May 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Damac Hills, and Mohamed bin Rashid City. As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, and Jumeirah Village Circle.

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  • Danube Chief Lauds UAE Policy

    Danube Chief Lauds UAE Policy

    Radwan Sagan says amendments to the federal law regulating commercial businesses in the country, especially in terms of allowing foreign investors to own businesses has worked wonders, reports Asian Lite News

    Indian businessman, Radwan Sagan, Founder and Chairman of the Danube Group, which operates from Jebel Ali Free Zone in Dubai, has said that UAE’s investment environment is unique, as it offers investors attractive incentives and promising investment opportunities in all sectors.

    Sagan pointed out that he established the Danube Group in 1993, which currently operates in constructions, real estate, interior design, furniture, retail, manufacturing, and food and beverage, with over 3,600 employees.

    One of the major factor for UAE to attract investors from across the world has been the infrastructure it provides. This has played a pivotal role in UAE to develop world-class medical centres, IT complexes, technology centres and modern business centres for leading business establishments. Sagan added that the UAE has the largest shopping malls in the Middle East, making the lives of foreign investors easier.

    He then expressed his gratitude to the UAE’s leadership and lauded its support for foreign investors while commending the latest amendments to the federal law regulating commercial businesses in the country, especially in terms of allowing foreign investors to own businesses in the country and cancelling a clause stipulating that foreign companies are required to have Emirati agents.

    Sheikh Mohammed bin Rashid Al Maktoum

    Sagan is one of the first foreign investors who received a golden residency visa.

    The UAE government’s decision to allow 100 per cent foreign ownership of onshore businesses has come as a major boost to the country’s economy that has been actively pursuing foreign direct investment (FDI) in recent years.

    The UAE recorded a 44.2 per cent ($20 billion) jump in foreign direct investment (FDI) in 2020 when global foreign FDI flows collapsed, falling 42 per cent from $1.5 trillion in 2019 to an estimated $859 billion, according to UNCTAD data.

    Clearly, the country emerged as an attractive FDI destination and the clarity in ownership is going to bring in more investors into the country.

    While several free zones within the country had already been allowing full business ownership to foreigners, onshore it has been restricted to certain categories of businesses with gradual easing happening during the last two years.

    Keeping foreign investor as a minority shareholder legally has been a major impediment in attracting investors onshore in manufacturing and in several new generation businesses, such as, software development, financial technologies, and artificial intelligence.

    The UAE has been on a steady rise in the Global Competitiveness Index of the World Economic Forum. In the latest Index, the country is ranked 25th globally, improving by two positions from last year’s report and is leading Arab region.

    The country has been pursuing a strategy to improve and develop performance in all competitiveness indicators. Clearly, the approach is rooted in open economic policies, modernisation and updating of legislations and streamlining of procedures as well as the adoption of innovation to move up on the scale of global competitiveness.

    While the effects of the pandemic on global investment flows are expected to linger for longer with investors likely to remain cautious in committing capital to new overseas assets, the UAE’s legal reforms are sure to give it an edge in attracting foreign capital.

    The UAE is a leading country in terms of providing incentives and drafting economic legislation that encourages investment and commerce.

    The country offers foreign investors an array of incentives and has a competitive investment environment, especially in terms of the presence of industrial zones with modern advanced infrastructure, as well as an efficient road network and large ports and airports.

    The UAE has a modern and advanced infrastructure, high-quality road and electricity networks, airports and ports, in addition to many free zones in all emirates, he added, noting that the logistical services provided by the country attract foreign investment.

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  • Abu Dhabi receives new anti-Covid medication

    Abu Dhabi receives new anti-Covid medication

    With the arrival of the first shipment yesterday at Abu Dhabi airport, Abu Dhabi becomes the first city in the world to receive this drug….reports Asian Lite News

    The world’s newest anti-viral treatment for COVID-19, Sotrovimab, is now available for early treatment of certain categories of COVID-19 patients in the UAE.

    This was following a landmark agreement between the Department of Health – Abu Dhabi, leading Group Purchasing Organisation (GPO), Rafed, and global innovative biopharmaceutical company, GlaxoSmithKline (GSK).

    With the arrival of the first shipment yesterday at Abu Dhabi airport, Abu Dhabi becomes the first city in the world to receive this drug.

    Sotrovimab is a monoclonal antibody treatment delivered through intravenous therapy. Sotrovimab can be used to treat adults and children above the age of 12 who meet certain criteria and are at risk of progressing to severe COVID-19, as per protocols that have been developed by the National Scientific Committee.

    Studies have shown the medicine to prevent hospitalisation and death in 85% of early selected treatment cases and can work on all known variations to date.

    Following US Food and Drug Administration’s emergency use authorisation, the UAE Ministry of Health and Prevention issued its endorsement of the new GSK medicine following a national assessment.

    The agreement is to ensure deliveries as early as June and July, enabling patients in the UAE to be among the first in the world to access the new therapy.

    Abu Dhabi-based Rafed will facilitate the procurement, storage and distribution of Sotrovimab via the Rafed Distribution Center – the region’s largest specialised cold-storage facility.

    Dr. Jamal Mohamed Kaabi, Undersecretary for the Department of Health- Abu Dhabi, said: “This medicine is at the forefront of pharmaceutical advancement and is a powerful tool in our fight to end this pandemic. We are looking forward to implementing the eligibility criteria for emergency use of Sotrovimab as part of Abu Dhabi’s commitment to lead an all-encompassing COVID -19 response in prevention, treatment and care.”

    Rashed Al Qubaisi, CEO of Rafed said: “Sotrovimab represents a massive breakthrough in the fight against COVID-19. Through our close collaboration and partnership with the Department of Health and GSK, we have been able to work swiftly in the procurement of the medication to ensure an effective and timely roll-out across the UAE.”

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