THIS MORNING: Major roads in Dubai will close starting at 4pm today

Good morning, wonderful people, and happy new year. Our last issue of 2024 is a light one to bring you up to speed before you’re off to ring in the new year. Let’s dive in.

** This is the last issue of EnterpriseAM UAE for this week. We’re taking a publication break through Sunday to gear up for 2025 and we will be back in your inboxes at our usual time on Monday, 6 January.

☁️ WEATHER– Expect clouds today: Partly cloudy skies are expected across the country today, with humid conditions overnight possibly leading to fog in some internal and coastal areas, according to the National Center of Meteorology (pdf). The mercury in Dubai will reach 27°C, with a low of 20°C, and will peak at 24°C in Abu Dhabi, before also dropping to 19°C.

PSAs-

#1- REMEMBER- Major roads in Dubai will close starting at 4pm today to manage New Year’s Eve traffic. Here’s what you need to know:

• Closing from 4pm: Sheikh Mohammed Bin Rashid Boulevard, Financial Centre St (Lower Deck), Al Mustaqbal St, Burj Khalifa St, and Al Asayel Road;
• Closing from 8pm: Al Sukuk St and Upper Financial Centre Street;
• Starting 11pm: Parts of Sheikh Zayed road could gradually close.

Public transport could be your way out — but brace yourselves for the crowds: The Dubai Metro and Tram will operate nonstop for over 43 hours on New Year’s Eve. The Metro is running from 5am today until midnight on 1 January, while the Tram will operate from 6am to 1am on 2 January.

Still want to drive? Dubai and Abu Dhabi will offer free parking on 1 January, with the fees reinstated on the following day.

ALSO- The Burj Khalifa and the Dubai Mall Metro station will close from 5pm or when capacity is reached, with Business Bay station serving as an alternative.

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#2- The deadline for residency law violators in the UAE to regularize their status concludes today. The Federal Authority for Identity, Citizenship, Customs, and Port Security had previously extended the deadline by two months, allowing violators to rectify their status without fines or penalties.

In Dubai, some 236k residency violators benefited from the four-month UAE visa amnesty, said Mohammed Al Marri, director-general of the General Directorate of Residency and Foreigners Affairs.

WATCH THIS SPACE-

#1- The Abu Dhabi Film Commission is raising its rebate on TV and film productions to up to 50% starting next year, an increase from the previous 30-35% rebate rate announced earlier in October, with the rebate cap doubling to USD 10 mn from USD 5 mn per production, according to a statement.

The new structure includes a baseline 35% rebate, with productions eligible for up to 50% cashback when they incorporate UAE history and culture in storylines, conduct full post-production in Abu Dhabi, or film main segments of their works locally.

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#2- Hatta set for major upgrade: Some 65 initiatives worth AED 3.6 bn are underway under the Hatta Master Development Plan, with 41 already completed, aimed at improving the quality of life, services, and social and economic development in the region, Wam reports. Key projects include a Guinness-record sustainable waterfall featuring a 2.2k sqm mosaic of 1.2 mn marble pieces, the 53k sqm Hatta Beach project, hotels, resorts, and the Hatta Downtown development.

The plan includes a world-class school with a capacity to accommodate up to 1k students, a community space for 100 people, a 1k guest wedding hall, and 200 homes for Emirati citizens.

Infrastructure + transport projects: Dewa is building a 250 MW hydroelectric power plant, a 30 mn-gallon water reservoir, and strategic inter-emirate water connections. Meanwhile, a 5.4 km Dubai Mountain Peak cable car linking Hatta Dam to Um Al Nesoor Peak will improve connectivity in the region, alongside expanded cycling and mountain biking trails.

DATA POINTS-

UAE carriers increased their seating capacity to 87.1 mn in 2024, up 10.5% y-o-y and outpacing the global average of 6.4%, Wam reports, citing data from global aviation data provider OAG. The growth, along with infrastructure investments and clean energy initiatives, are expected to fuel passenger traffic at the country’s airports to 150 mn by the year’s end, up from 134 mn in 2023, according to earlier predictions.

THE BIG STORY ABROAD-

It’s a mixed bag in the international business press on the last morning of the year, with no single story dominating the front pages. Among the stories getting top billing this morning:

A court in South Korea approved issuing an arrest warrant for impeached President Yoon Suk Yeol for imposing martial law in the country at the beginning of the month. The warrant marks the first for an incumbent president in South Korea. (Reuters | The Guardian | Bloomberg)

Hackers breached the US Treasury and gained access to “certain unclassified documents” by remotely accessing some Treasury employees’ workstations, the Treasury Department said in a letter to Congress yesterday. The hack — which the department classified as a “major cybersecurity incident” — was carried out by a Chinese state-sponsored actor. (Bloomberg | New York Times | Financial Times)

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CIRCLE YOUR CALENDAR-

The Arab Plast International Trade Fair for Plastics, Recycling, Petrochemicals, Packaging and Rubber Industry will take place between 7-9 January at the Dubai International Convention and Exhibition Center. The event will showcase advancements in the plastics and recycling sectors, with a focus on sustainable practices, circular economy, recycling technologies, and sustainable materials. The event will include networking prospects for professionals, live demonstrations of technologies and machinery, and discussions on future developments.

The International Renewable Energy Agency (IRENA) Assembly will take place between 11-13 January in Abu Dhabi. The event will gather global leaders and decision-makers to discuss the renewable energy transition and address challenges to energy security and financing. Featured in the agenda: An International Renewable Energy Agency Youth Forum, which will see interactive sessions, open dialogues, and thematic workshops for youth to contribute to renewable energy deployment and sustainable development.

The 1 Bn Followers Summit will take place between 11-13 January at Jumerirah Emirates Towers at the DIFC in Dubai. The event will feature over 250 speakers, including top content creators and industry experts. It includes workshops and discussions on technology, content strategies, and the economic impact of content creation.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.