The talks between Israel and the United Arab Emirates for a robust trade deal are advancing successfully and a signing ceremony will be held next year.
This was disclosed by Israel’s new ambassador to the UAE, Amir Hayek, while talking to the state news agency.
Hayek said that the Comprehensive Economic Partnership Agreement (CEPA) will be signed within the nine-month timeframe.
During the interview, he said that the sky is the limit in relations with the UAE, adding that the CEPA is vital for enhancing the bilateral trade ties.
Hayek’s interview comes as the Federation of Israeli Chambers of Commerce has projected that trade between the UAE and Israel could surge to $1.5 billion by the end of this year. The FICC sees this trade volume at over $5 billion within two to three years.
In the meantime, the president of the UAE-Israel Business Council said that the number of Israeli companies operating in the UAE is expected to double within a year.
In July, Dorian Barak, who is also the founder of Indigo Strategic Partners, said that he expects over 1,000 Israeli companies to be active in the UAE by next July. He said the coronavirus pandemic could be the only hurdle in enhancing bilateral economic ties.
Meanwhile, the UAE’s Economy Minister Abdulla Bin Touq has said that his country is seeking to grow economic ties with Israel to more than $1 trillion over the next decade.
Speaking at a virtual conference from the US, he said that the UAE has signed over 60 memorandums of understanding (MoUs) with Israel since normalising relations in 2020.
He added that currently, the UAE and Israel are engaged in up to $700 million dollars of bilateral trade and both sides have already announced joint funds of billions of dollars.
Earlier this month, the UAE also announced plans to strengthen its trade ties with the fast-growing economies in Asia and Africa.
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.
If you’re planning to renew your Indian passport in the UAE, you may have noticed longer waiting times over the past few weeks. That’s because passport and consular services have moved to a new outsourcing partner, and the Indian Consulate in Dubai says it’s now working to clear the backlog as quickly as possible.
The new Indian Consular Application Centres (ICACs), operated by Alhind Tours and Travels, have replaced the previous service provider and are now handling passport renewals and other consular services across the UAE.
Why are there delays?
According to the Consulate General of India in Dubai, the transition between service providers created a temporary backlog, leading to heavy demand at ICAC centres across the country.
Newly appointed Consul General Dr E. Vishnu Vardhan Reddy said some initial ‘teething problems’ were expected but added that clearing pending applications, particularly Tatkal (fast-track) requests, is now a top priority.
The Consulate and the Indian Embassy in Abu Dhabi together provide consular services to nearly four million Indians living in the UAE.
Who can walk in without an appointment?
To help those with urgent travel needs, the new centres are accepting walk-in applications for genuine emergency cases.
These include:
Tatkal passport applications with proof of urgent travel
Newborn passport applications
Senior citizens
Emergency Certificate applications
Applicants must carry documents supporting their request, such as a confirmed flight ticket for travel within the next two or three days.
Only official appointments permitted
The Consulate has also warned applicants not to use unofficial agents offering paid appointment bookings.
Officials said appointments should only be made through the official portal, adding that Alhind’s Dh19 service fee already includes services such as form filling and photography. Applicants should not be paying additional charges for these services.
The Consulate says it is working closely with the new operator to reduce waiting times and improve the overall experience. More digital services are also being introduced to simplify the application process and reduce the need for intermediaries.
Dubai is giving one of its oldest landmarks a spectacular new look after sunset.
Work has begun on the Dh80 million Dubai Creek Lights project, which will transform eight kilometres of the historic waterfront into an immersive nighttime attraction using more than 5,000 architectural lights.
Launched under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the project will illuminate six iconic locations: Creek Quay, Gold Souq Promenade, Infinity Bridge entrance, Al Shindagha Historic District, Bur Dubai Souq and Al Seef Marina.
Rather than simply lighting the area, each location will feature a bespoke design that celebrates Dubai Creek’s heritage while enhancing its architecture and public spaces.
Dubai Municipality said the project has been designed with sustainability in mind, with lighting systems that minimise impact on marine life while improving walkways, waterfronts and visitor safety.
Expected to be completed in early 2027, the project supports the Dubai 2040 Urban Master Plan and aims to make Dubai Creek one of the city’s must-visit evening destinations, blending history, culture and cutting-edge design in one unforgettable waterfront experience.