UAE’s MoHRE extends deadline for companies to meet Emiratisation targets

• The ministry said the decision to give companies more time to reach their targets to hire Emiratis was taken by taking into account the Eid holidays
• MoHRE has warned companies in the private sector that non-compliance with the decision will invite a fine of AED42,000 for each Emirati not employed

UAE and South Korea agree to support SMEs, entrepreneurship

• The UAE's Minister of Economy, Abdullah bin Touq Al Marri, noted the strong business and strategic ties between the two countries, which continue to grow on many fronts
• South Korean FDI in the UAE, in insurance, mining, energy, real estate, touched US$2.2 billion in 2021, registering a staggering 73 percent growth since the beginning of 2013

UAE and Russia hold talks to eliminate double taxation

• The agreement is designed to provide protection to taxpayers from double taxation and remove bottlenecks on the path of trade and investment
• The UAE noted the importance of dialogue in fostering better bilateral relations with Russia, resulting in growth in trade, finance and investment

Saudi Arabia to provide visitors with instant e-visa to boost travel

• The visa on arrival is just the latest step in Saudi Arabia's drive to make it easier for visitors to undertake a trip to the kingdom, boosting arrivals to 100 million by 2030
• The Saudi Tourism Authority has adopted digitization increasing accessibility and connectivity for visitors to enter the kingdom and enjoy its natural and cultural diversity

UAE and Japan discuss boosting economic, trade and industrial ties

• The UAE Foreign Minister Sheikh Abdullah bin Zayed met with Japan's foreign and economy ministers to explore broadening of economic and strategic ties
• The discussion between the two sides also touched upon bilateral cooperation in energy and climate, and the UAE's preparations for COP28 in Dubai Expo City

Iran-Turkey trade to hit US$15bn on back of private sector cooperation

• According to the Iranian Customs Authority, the bilateral annual trade between the two countries touched US$13.58 billion up to late March 2023
• During the last financial year, Turkey rose to become the third largest customer of Iranian non-oil exports, with some US$7.45 billon worth of purchases

HFZA inks deal with Infinite Mining & Energy to build oil refinery

SEWA holds talks with US consulate to promote innovation for energy solutions

• The meeting also touched upon SEWA's initiatives to bring down carbon emissions and fight climate change, besides discussing the upcoming COP28 conference
• The two sides also explored potential partnerships between SEWA and American companies in innovation and sustainable development

UAE-Turkey partnership has scaled new heights: Al Marri

• The CEPA agreement between the two countries is expected to start a new era of ties, stimulating trade, increasing investment flow, and creating jobs
• The non-oil bilateral trade is expected to increase to US$40 billion annually in five years, and at the same time create 25,000 new jobs by 2031

Saudi NIDLP publishes report highlighting ‘achievements’ in four key sectors

• According to NIDLP, the program continues to work diligently to achieve the desired results under the plans emerging from the Saudi Vision 2030
• The program looks to maximize and diversify the economic impact in the four sectors, achieving sustainability and creating attractive investment environment