Abu Dhabi-based investment and holding company ADQ agreed to acquire a majority stake in fresh fruit producer and distributor Unifrutti Group, further expanding its food and agriculture portfolio.
The size and value of the deal was not disclosed. ADQ will acquire the stake from existing shareholders, it said in a statement on Thursday.
“We are developing our food and agriculture portfolio with the aim of generating strong financial returns while bolstering food resilience in the UAE," Gil Adotevi, executive director of Food and Agriculture at ADQ, said.
"Our investment in Unifrutti would enable ADQ to develop a global platform for fresh produce that complements our other portfolio companies throughout the food value chain. We believe our long-term strategic investment will help accelerate Unifrutti’s next phase of growth."
Unifrutti produces, trades and distributes more than 100 varieties of fresh produce, which includes apples, bananas, cherries, grapes and citrus fruits.
It sells approximately 560,000 tonnes of fresh fruit annually across 50 countries and operates more than 14,000 hectares of farms across Chile, the Philippines, South Africa, Italy, Spain and Argentina.
ADQ, which has a broad portfolio of investments spanning sectors such as energy, utilities, health care, mobility and logistics, is boosting its food and agriculture portfolio.
It has investments in Louis Dreyfus Company, a vertically integrated company dealing in food, feed, fibres and ingredients, as well as Abu Dhabi-based fresh produce and agri-tech company Silal, agribusiness firm Al Dahra Holding and Agthia Group.
In August, ADQ also said it plans to start a new venture in Al Ain to increase the production of fresh fruits and vegetables in the UAE. ADQ will team up with three agriculture specialists to develop and operate greenhouse units within the new AgTech Park at Al Ain Industrial City, with an annual production capacity of 39 kilo-tonnes.
Globally, it is estimated that $200 billion of investment is required annually until 2050 to meet the food supply and demand gap, ADQ said in a whitepaper.
The UAE, which has embarked on the National Food Security Strategy 2051, has been investing heavily to generate sustainable local food production to reduce imports and is adopting technologies such as artificial intelligence and robotics to meet long-term market demands.
"To cultivate the future of food in the UAE, we invest in local production as well as international supply chain interconnectivity," Mr Adotevi said in the whitepaper.
"Establishing thriving and new international connections to our food supply chain is one way we can play a critical role in strengthening the UAE’s food system."
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Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
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Producer: Maddock Films, Jio Cinema
Cast: Kartik Aaryan, Kriti Sanon, Pankaj Tripathi, Vinay Pathak, Aparshakti Khurana
Rating: 3/5
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
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PRISCILLA
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Asia Cup 2018 Qualifier
Sunday's results:
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- Nepal beat Singapore by four wickets
- Oman v Hong Kong, no result
Tuesday fixtures:
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
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How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
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6.30pm Al Maktoum Challenge Round-1 Group One (PA) US$65,000 (Dirt) 1,600m
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7.05pm Handicap (TB) $175,000 (Turf) 1,200m
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7.40pm UAE 2000 Guineas Trial Conditions (TB) $100,000 (D) 1,600m
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8.50pm Handicap (TB) $135,000 (T) 1,600m
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9.25pm Al Maktoum Challenge Round-1 Group Two (TB) $350,000 (D) 1,600m
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10pm Dubai Trophy Conditions (TB) $100,000 (T) 1,200m
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10.35pm Handicap (TB) $135,000 (T) 1,600m
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What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Indoor Cricket World Cup Dubai 2017
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The stats: 2017 Jaguar XJ
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EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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- Open your curtains when it’s sunny
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- Have a cuddle with pets and loved ones to help stay cosy
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- Do a few star jumps
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
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2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier
Final: UAE beat Qatar by nine wickets
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1 UAE 5 5 0 10
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5 Bahrain 5 1 4 2
6 Maldives 5 0 5 0
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One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
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The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
