The suspension has been lifted for 766 mosques in Dubai and 60 temporary mosques have also been opened to accommodate all worshippers, residents and visitors.
Mosques will operate at 30% capacity and can also have people in courtyards. The duration of prayers will not exceed 10 minutes and all attending must wear face masks and take standard precautions.
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Dr. Tariq Bin Hendi, Director-General and CEO of Abu Dhabi Investment Office comments on ADIO’s role and focus on cultivating a viable ecosystem for SMEs and start-ups in the UAE’s capital as well as to attract foreign investment into the UAE.
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The UAE Authorities urge citizens and residents to keep safe and follow Covid19 precautionary measures during UAE National Day celebrations.
Gatherings in private places such as homes, are restricted to 20 people only and should be avoided if possible.
Workplace celebrations are restricted to hanging decorations and flags only, gathering in large groups to watch fireworks is also not permitted.
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The creative hub will double the annual capacity of Abu Dhabi’s TV production and media services sector – it aims to have enough space to accommodate more than 16,000 professionals once completed.
The hub is getting rolled out in three stages over the course of a decade, the first phase will be opening part of the facility at the end of 2021 where around 600 companies including US news network CNN, will move from Twofour54 into the new hub.
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Abu Dhabi Supreme Petroleum Council has approved a 448 billion dirham budget to spend on oil and gas exploration over the next five years.
ADNOC produces almost all of the oil in the UAE and it is the third largest oil supplier for OPEC+, the UAE is currently capped to an output maximum of roughly 2.6 million barrels a day until the end of the year.
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The Hope Consortium will operate a global logistics hub in Abu Dhabi, storing and distributing will plans to deliver billions of vaccines by the end of 2021 – 5 million vaccines have been distributed and transported this month already.
There are 3 vaccines to date that are said to be highly effective against coronavirus, developed by Chinese company Sinopharm. The vaccine is in phase 3 of clinical trials and approved for emergency use in the UAE.
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PRO Partner Group Corporate Structuring Manager Greg Hastings speaks to Dubai Eye about the new UAE 100% foreign ownership update and how the update in the law is going to change doing business within the UAE, what the transition phase looks like and what steps companies can take to take advantage of this new law.
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UAE residents returning to Abu Dhabi from abroad will no longer be required to do 14 days of quarantine if they have been vaccinated.
The new regulations will come into place for residents after the first dose of the vaccine is taken in phase 3 of the trials and 28 days after the second dose is taken for those who are taking part in the National Vaccination Programme.
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Foreign investors may soon be able to hold 100% of the capital in UAE companies. In a decision announced yesterday, the laws restricting the participation of foreign investors in UAE companies will be overhauled.
The announcement is consistent with the UAE’s considerable efforts to improve the attractiveness of the business environment. In particular, amending Federal Law No. 2 of 2015 on Commercial Companies (the Commercial Companies Law) to remove the need to have an Emirati national hold the majority of shares in a company or be registered as a national agent is likely to significantly open the UAE up to greater foreign investment.
It is also anticipated that these changes will reduce the complexity and costs associated with setting up a company in the UAE and may result in corporate entities relocating from free zones to the mainland UAE for the set up and operation of their business.
The full scope, details, and timeline for implementation of these changes has yet to be announced.
PRO Partner Group looks forward to supporting corporate entities with a transition towards maximum foreign ownership.
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