The UAE officially announced a public holiday for public and private sector employees this week.
It was announced January 1 will be a public holiday, giving workers a 3-day weekend break to start the new year.
It comes in the same week a leading recruitment agency forecast salary increases in various sectors next year.
As salaries increase, so are property prices – with Dubai real estate passing 2014 levels for the first time. However, analysis has also highlighted the most affordable places to live in the country.
Kuwait and countries across the region this week mourned the passing of Emir Sheikh Al Ahmad Al Jaber Al Sabah.
Catch up with 10 of the biggest stories this week as selected by Arabian Business editors.
Saudi Arabia announces major new visa platform, simplifies applications
The platform includes visas for Hajj, Umrah visits, business visits, tourist visas, and work visas.
The platform will link more than 30 ministries and organisations and use artificial intelligence to allow visitors to find the documentation they require.
UAE announces 3-day weekend holiday for public and private sector
The UAE has announced a public holiday for public and private sector workers in the country.
The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Monday, January 1, 2024, will be an official paid holiday for workers in the private sector on New Year’s Day.
The decision aligns with the Cabinet Resolution regarding approved public holidays for the government and private sectors in 2024.
Kuwait ruler Sheikh Nawaf Al Ahmad Al Jaber dies at 86, nation mourns
Kuwait has announced Emir Sheikh Nawaf Al Ahmad Al Sabah has passed away.
In a statement carried by state-run news agency KUNA, Amiri Diwan said: “With deep grief and regret, we mourn to the Kuwaiti people, the Arab and Muslim nations and friendly people demise of His Highness the Amir Sheikh Nawaf Al Ahmad Al Jaber Al Sabah who passed away today Saturday.”
Kuwait announced a three-day holiday and 40 days of mourning following the death of Sheikh Nawaf. Following an emergency Cabinet meeting, Sheikh Mishal Al Ahmad Al Jaber Al Sabah was named as the new Emir of the State of Kuwait.
Emirates NBD teams up with Dubai Police to combat fraudsters
The campaign follows reports of customers from various banks being targeted by fraudsters.
Themed #IWillSurvive, the campaign aims at raising public awareness of cybersecurity and encouraging customers to take action and actively report fraudulent activity or attempts so that more people are aware and remain vigilant.
Emaar hands five hotels to Abu Dhabi for management
The hotels will be managed and operated under other luxury international hotel brands.
In a regulatory filing with Abu Dhabi Securities Exchange (ADX), ADNH said: “In a strategic move reflecting the evolving dynamics of their business models, Abu Dhabi National Hotels and Emaar Hospitality Group agreed to transition the management of five hotels effective 1st January 2024, from being part of Emaar Hospitality Group’s management portfolio to being directly managed by ADNH.”
Two injured in Dubai shopping mall collapse
Authorities “took swift action” when a small section of Al Mulla Plaza collapsed under the weight of heavy materials. Two people were injured in the incident.
A statement shared on social media said: “Dubai Police said that government authorities have taken swift action to manage the situation arising from the collapse of a small part of Al Mulla Plaza last night.
Revealed: Most affordable areas to live in Dubai
In addition to being renowned for its towering skyscrapers, opulent residences, and luxurious real estate, Dubai also offers more budget-friendly and moderately priced neighbourhoods for residents.
Here are some of the most affordable areas to rent a home in Dubai.
United Arab Emirates megaprojects: 34 upcoming developments set to transform the nation
With a clear vision set for the next decade and beyond, the United Arab Emirates is paving the way for a future characterised by innovation and progress.
From iconic structures to advanced urban planning, these upcoming developments are poised to redefine the UAE’s economic, social, and cultural fabric – as it reaches its goal to become one of the world’s top three best cities to live and work in.
Dubai property prices pass 2014 levels to reach all-time high, up 45% in three years; 130,000 transactions expected this year
In the run up to the turn of the year, average Dubai property prices continue to reach new heights, increasing by 1.17 per cent in November, according to Property Monitor.
The Dubai real estate specialist’s Property Monitor Dynamic Price Index (DPI), said property prices currently stand at AED1,271 ($346) per square foot, just over 3 per cent above the previous all-time high and market peak of September 2014.
UAE salaries to increase in 2024: Report
According to the guide, the United Arab Emirates has witnessed several positive shifts in its recruitment market in the past year, driven primarily by non-oil sectors.
54 per cent of organisations surveyed made salary increases this year, attributed to the sustained demand for talent in the country. According to the guide, majority of the companies revealed that they are likely to make salary increases in the coming year.
Follow us on
