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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.

Crime

UAE issues stark warning on price fixing: ‘It’s a crime’

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Price manipulation isn’t just unfair, it’s illegal in the UAE.

The UAE Public Prosecution has issued a strong warning to businesses, making it clear that inflating or fixing prices crosses the line into criminal activity, not clever strategy.

In a statement shared online, authorities reinforced that the UAE’s free-market system is built on fairness, transparency, and strict legal oversight. Any attempt to distort competition or exploit consumers is taken seriously and can carry legal consequences.

At the centre of this is Federal Decree-Law No. 36 of 2023, which bans monopolistic behaviour, price-fixing agreements, and the misuse of market dominance. The goal: keep markets open, competitive, and fair for everyone.

The Public Prosecution also highlighted its role in cracking down on economic crimes, working closely with other authorities to detect violations and protect consumers.

The message is simple: if you manipulate prices, you’re not just bending the rules — you’re breaking the law.

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Don’t drive away: New Sharjah campaign targets minor hit-and-run cases

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Motorists in Sharjah are being reminded to stay put after any accident, no matter how minor.

Sharjah Police has issued a fresh warning that leaving the scene of a collision, even a small scratch or low-speed bump, can lead to serious legal and financial consequences.

As part of a new awareness campaign, authorities stressed that every traffic accident must be reported, regardless of how insignificant it may seem. What some drivers consider a harmless parking lot scrape is officially treated as a hit-and-run if they drive away without reporting it.

The reminder comes as officials aim to clear up a common misunderstanding, many motorists assume minor incidents in residential areas or parking spaces don’t need to be reported. According to police, that’s simply not the case.

Under current traffic rules, leaving the scene of a minor accident can result in a Dh500 fine, eight black points on a driver’s record, and vehicle impoundment for seven days. Release fees can go up to Dh5,000, and repeated violations may even lead to licence suspension.

To drive the message home, police released an awareness video showing how quickly small accidents can happen in tight spaces like parking lots and narrow streets, and how easily they can turn into bigger legal issues when drivers fail to stop.

Authorities are urging motorists to stay at the scene, check on everyone involved, and report the incident through official channels, including the police app or by calling 901 for non-emergency situations.

In the end, officials emphasise that reporting an accident right away is the safest and simplest option, helping resolve matters quickly while avoiding penalties that can far outweigh the original incident.

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Education

Driving through school zones? Slow down say Abu Dhabi Police

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Authorities in Abu Dhabi are reminding motorists to exercise extra caution when driving near schools, highlighting the risks posed by distractions and heavy traffic during peak hours.

Abu Dhabi Police stressed the importance of staying fully focused on the road, particularly during morning drop-offs and afternoon pick-ups, when congestion and pedestrian activity increase significantly.

Drivers have been advised to reduce speed, respect pedestrian crossings and come to a complete stop when school bus stop signs are displayed. Officials warned that using mobile phones or engaging in other distractions while driving can pose serious dangers to students and other road users.

Police also emphasised that road safety is a shared responsibility, calling on parents and the wider community to support safe driving practices and help create a secure environment around schools.

Authorities added that awareness and enforcement campaigns will continue as part of broader efforts to enhance road safety and community wellbeing across the emirate.


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