AB Espresso: UAE announces private sector holiday

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Check out the latest updates from Arabian Business, where our editorial team has compiled the region's developments from Monday:

The UAE has announced a holiday for private sector workers to recognise the Prophet’s Birthday. The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Sunday, September 15 (12 Rabi’ al-Awwal 1446H) is a paid public holiday for private sector employees to mark the birthday of Prophet Muhammed (PBUH). The decision aligns with the UAE Cabinet Resolution regarding the official public holidays for the public and private sectors for 2024.

Meanwhile, the UAE’s economy demonstrated robust growth in the first quarter of 2024, according to preliminary estimates released by the Federal Competitiveness and Statistics Centre (FCSC). The country’s real GDP reached AED430 billion, marking a 3.4 percent increase compared to the same period in 2023. Non-oil GDP grew by 4 percent year-on-year.

In Dubai, the emirate has introduced new rules regulating healthcare. It will license healthcare establishments for periods of one renewable year at a time and can close down establishments and suspend professionals violating guidelines. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, issued Executive Council Resolution No. (49) of 2024 regulating healthcare activities and professions in Dubai.

In addition, Dubai is set to build a new AED4.5bn ($1.2bn) as it looks to establish one of the top 200 global education centres in the world within 20 years. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the establishment of Dubai National University, with an investment of AED4.5bn ($1.2bn).

On the real estate front, Dubai-based property developer Binghatti has unveiled its latest project, Binghatti Ghost, in Al Jaddaf. The development marks the company’s return to the area after a two-year absence, driven by market demand. The developer claims its previous projects have recorded up to 40 percent capital gains for investors.

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