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UAE-Israel trade deal to be signed next year: Envoy

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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.

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What new UAE anti-money laundering measures mean for businesses

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The UAE is strengthening its crackdown on financial crime, with the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation Financing approving a new set of measures to boost transparency and enforcement.

Announced after its latest meeting, chaired by Khaled Mohamed Balama of the Central Bank of the UAE, the updates aim to strengthen how authorities detect, investigate, and prevent illicit financial activity.

A key highlight is a new national guide on financial intelligence and money laundering investigations, which improves coordination between agencies and introduces updated procedures for tracking and recovering assets, including those linked to virtual assets.

The committee also approved risk assessments across financial institutions, virtual asset providers, and non-financial sectors, enabling more targeted enforcement and oversight.

Stricter compliance for businesses

For businesses in the UAE, the new measures mean stricter compliance requirements but also a more stable and trusted operating environment.

Companies, especially in finance, real estate, and emerging sectors like virtual assets, will need to strengthen due diligence, improve internal controls, and align with updated risk assessments and reporting standards set in coordination with the Central Bank of the UAE.

While this may increase operational oversight and compliance costs in the short term, it enhances transparency, reduces exposure to financial crime risks, and reinforces the UAE’s reputation as a secure global business hub, ultimately boosting investor confidence and long-term growth opportunities.

Additional updates include revised national risk assessments on proliferation financing and non-profit organisations, reinforcing a risk-based approach to regulation.

While largely behind the scenes, these changes play a key role in maintaining the UAE’s position as a secure and trusted global financial hub, something that directly impacts businesses, investors, and the wider expat community.

Officials say the measures mark a more advanced phase in the country’s regulatory framework, with stronger coordination and improved readiness to address evolving financial risks.

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UAE motorists to see new parking charges in Abu Dhabi neighbourhood

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Motorists in Abu Dhabi’s Mohamed Bin Zayed City will soon need to factor in parking fees, as paid parking is set to roll out in additional commercial sectors starting May 6.

Under the new system, drivers will pay Dh2 per hour for standard parking in sectors ME9 and ME12, as part of ongoing efforts to improve traffic flow and accessibility in busy neighbourhood hubs.

The initiative is being implemented by Q Mobility under the supervision of the Integrated Transport Centre (ITC), reflecting a broader push to modernise urban mobility across the capital.

For many UAE residents and expats living in the area, the change marks a shift from previously free parking to a more structured system designed to reduce congestion and limit random parking, particularly around commercial and service outlets.

The rollout will cover more than 10,000 parking spaces, including 3,219 spaces in ME9 and 6,986 spaces in ME12, along with designated spots for People of Determination.

To make the transition easier, motorists can pay through multiple digital channels, including apps like Darb and TAMM, as well as SMS and on-site payment machines, offering flexibility for residents who rely on different payment methods.

Authorities say the system is designed to support local businesses by improving access to shops and services, making it easier for customers to find available spaces.

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UAE mandates better housing, healthcare, and safety for workers

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The UAE is stepping up efforts to improve worker welfare, as the Ministry of Human Resources and Emiratisation (MOHRE) rolls out a comprehensive set of regulations governing labour accommodation across the country.

The new guidelines aim to raise living standards for workers, many of whom are part of the UAE’s diverse expat community, by introducing enhanced health, safety, and well-being measures, including mandatory free internet access in accommodation facilities.

Under the updated rules, employers are required to provide licensed and adequate housing or offer a housing allowance. Larger accommodations housing 1,000 workers or more must now include 24-hour medical clinics, along with recreational spaces and access to financial services.

The changes also place a stronger emphasis on mental well-being. Accommodation managers are expected to organise social and recreational activities during official holidays, helping workers stay connected and engaged outside of work.

Location planning is another key focus. Labour accommodations must be situated near industrial zones and transport networks, while maintaining safe distances from residential neighbourhoods and environmental risks.

In terms of daily living standards, the regulations outline clear requirements for cleanliness, proper lighting, sanitation, food preparation areas, and access to safe drinking water, as well as pest control and secure gas systems.

Emergency preparedness has also been reinforced. Employers must provide first aid rooms, isolation areas, and emergency response plans, while larger facilities are required to have on-site doctors, nurses, and ambulance services.

To ensure accessibility and transparency, workers must be given written guidance in multiple languages, explaining their rights, health and safety procedures, and how to contact authorities for support or to file complaints. This is complemented by clear emergency signage, evacuation plans, fire safety measures, and regular drills.

The ministry says these updates are part of a broader push to strengthen worker protection, ensure compliance, and enhance quality of life.

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