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SeaBubbles, Al Masaood Power to manufacture flying boats in UAE

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It may look like a futuristic prop from a sci-fi movie, but visitors to Dubai International Boat Show 2022 need not adjust their sets – the UAE’s first flying boat is a reality and could soon be manufactured locally, courtesy a new memorandum of understanding (MoU) signed at the region’s largest and most-popular leisure marine event.

Inspired by the Emirates’ pearl-diving heritage, the sustainability-focused X-Pearl – a brainchild of innovative French firm SeaBubbles – is powered by a hybrid hydrogen-electric propulsion system and retractable foils, and available for purchase. While scaled models of both its flagship H2 and the X-Pearl were unveiled on Wednesday at Dubai Harbour, the company hopes to have the limited-edition UAE model zipping along Dubai Creek, Dubai Canal, or Abu Dhabi Corniche before next year’s COP28.

That vision moved one step closer at the 28th edition of the Dubai International Boat Show as SeaBubbles capitalised on the nautical showpiece to ink an MoU with local solutions provider Al Masaood Power Division. The agreement will see both parties collaborating to pilot and assess the performance of hydrogen-powered flying boats, manufacture and maintain operations in the Emirates, and retrofit existing boats with SeaBubbles’ sustainable powertrain system.

“The Dubai International Boat Show is iconic, so it felt like the perfect opportunity to reveal the X-Pearl to an international audience and showcase that we are moving towards this ecological transition together with Al Masaood,” said Virginie Seurat, Vice President of SeaBubbles. “The MoU agreement marks another step forward in terms of driving hydrogen mobility in the UAE. With COP28 coming to the Emirates next year, we are very excited to strengthen our local ties.”

SeaBubbles’ crafts can carry up to 12 passengers and a pilot, making them ideal for a range of water mobility solutions: electric passenger vessel, zero-emission water taxi, VIP shuttle, or even for inter-city transfers. By producing minimal wake and water disturbance, it also provides a solution for eco-tourism sightseeing tours in protected areas such as the Eastern Mangroves wetland reserves.

“This is the return of the Dubai International Boat Show after two years, so while the show starts a new cycle, we also start something new and exciting with this partnership with SeaBubbles,” said Rasso Bartenschlager, General Manager of Al Masaood Power Division. “The X-Pearl, by emitting only water, demonstrates our commitment to sustainable solutions and we are honoured to sign this ground-breaking partnership that will help drive green mobility for future generations.”

SeaBubbles’ innovative tech promises a more ecological future courtesy of its hydrogen fuel cells, which generate the electricity supply for the internal systems and propulsion pods, while a battery pack supports it during flight. This hybrid concept ensures 100 per cent reliance on renewable energy sources, while its foils reduce wetted surface area and thus power usage, leading to a craft 35 per cent more power-efficient than a regular boat. Both the H2 and the X-Pearl can reach speeds of up to 50kph.

Dubai International Boat Show 2022 runs until March 13 at Dubai Harbour, the event’s Venue Host and VIP Registration Partner.

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Small businesses in the UAE now have tax relief until 2029

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Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

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UAE public holiday announced: 3-day weekend coming up on August 28

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Planning your next long weekend? The UAE has confirmed Friday, August 28, as a public holiday for employees in both the public and private sectors.

The holiday commemorates Prophet Muhammad’s (PBUH) birthday, an occasion included among the UAE’s official public holidays. As the date follows the Islamic calendar, the timing changes from year to year.

A three-day break for many residents

With the holiday falling on a Friday, employees who follow a Monday-to-Friday working week can enjoy three days off:

  • Friday, August 28: Public holiday
  • Saturday, August 29: Weekend
  • Sunday, August 30: Weekend

That means residents can make the most of the break with a short trip, a staycation or a relaxed weekend at home.

Another UAE holiday is coming

The next major public holiday on the UAE calendar will be Eid Al Etihad, with celebrations and the official holiday scheduled for December 2 and 3.

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What the UAE’s new vape excise price means for consumers and retailers

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The UAE Ministry of Finance has introduced a new rule that sets a minimum excise price for liquids used in electronic smoking devices.

Beginning September 1, vaping liquids will be subject to a minimum excise price of AED 1 per millilitre.

The ministry confirmed that the existing minimum excise prices for cigarettes, water pipe tobacco (shisha), and other tobacco products will remain unchanged.

According to the ministry, the decision aims to improve tax compliance, respond to developments in the tobacco and vaping industry, and create a more consistent pricing framework across tobacco and electronic smoking products.

The UAE will also continue applying its 100% excise tax on all tobacco products covered under the country’s excise tax regulations.

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