On Tuesday, Arabian Business covered some of the most happening stories in the region, ranging from welcoming UAE astronaut Dr. Sultan Al Neyadi’s homecoming, to Dubai’s Nakheel launching luxury villas, new UAE pensions guidance for businesses, and more.
Here are five trending stories you missed on Tuesday.
UAE celebrates as Sultan Al Neyadi returns home from space mission
UAE astronaut Sultan Al Neyadi received a hero’s welcome on his return from the International Space Station.
President Sheikh Mohamed bin Zayed Al Nahyan hailed the return of Sultan Al Neyadi as a moment of national pride for the UAE.
The President was joined by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to witness the triumphant homecoming of the UAE astronaut.
Dubai’s Nakheel announces brand new luxury Palm Jebel Ali villas for sale
Dubai-based real estate developer Nakheel has announced its first villas available for purchase on Palm Jebel Ali island.
This announcement follows the recent release of a futuristic masterplan by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai earlier this year, the developer said in a statement on Monday.
The development focuses on four fronds, featuring coral villas and beach villas, each available in eight distinct styles.
UAE issues pensions guidance for businesses
UAE pension authorities have urged companies to keep up-to-date employee information to ensure correct records and payments.
As part of the General Pension and Social Security Authority’s (GPSSA’s) quest to continue offering top-notch services while ensuring accurate and timely transactions for its stakeholders, entities registered with the GPSSA are required to update their Emirati employee’s information and data punctually on the UAE’s Pension Authority’s electronic system.
Incorrect data can lead to inaccurate payments for emiratis in the UAE.
Saudi Arabia pays $15.5m in compensation to air passengers
Saudi issues compensations for delayed flights, lost baggage and cancellations
Saudi aviation authorities paid SR58m ($15.5m) to air passengers between 2021 and 2022.
The General Authority of Civil Aviation (GACA) said that, based on the stipulations in its passenger rights protection regulations, national airlines issued the compensations.
UAE confiscates $356m from money launderers, hands out $54m fines in major crime and terrorism crackdown
The UAE confiscated $356m from money-laundering operations in a matter of weeks as it looks to combat financial crime in the country.
The country also handed out $54m in fines and increased collaboration with international bodies amid the ongoing fight against terrorism financing and money laundering.
Hamid Al Zaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF), revealed that the UAE has completed a comprehensive review of AML/CFT progress made in the first half of 2023 which shows significant improvement across the board.
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