Khalifa Economic Zones Abu Dhabi (Kezad Group), the largest operator of integrated economic zones in the UAE, has signed a lease agreement with Global Fluorine Chemical to build phase two of its factory that will triple the company’s production capacity.
The Dh1 billion ($272.5 million) expansion of the factory in Kezad Mussafah will be built on a 120,000 square metre plot of land next to its existing 100,000 square metre centre, state news agency Wam said on Monday.
The expansion will allow Global Fluorine to add four more speciality chemical products to its portfolio for clients in the UAE and beyond.
The agreement is in line with the UAE's aim of developing a circular economy, allowing Global Fluorine to procure raw materials for its premium refrigerants locally.
The factories will be strategically located to use the services offered by AD Ports Group as well as Kezad Group to expand its customer base abroad, the report said.
The growth and expansion of a “premier refrigerant manufacturer within Kezad”, is part of the country’s efforts to continue to develop integrated business ecosystems, and ensure that “industrial development goes hand in hand with environmental responsibility”, Abdullah al Hameli, chief executive of Economic Cities and Free Zones, AD Ports Group, said.
“We proactively take into consideration the future growth of clients and ensure that there is always ample space available for their expansion.”
The deal, signed in the presence of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and President-designate of Cop28, and Mohamed Al Shamisi, chief executive of AD Ports Group, underscores the Ministry's efforts to “strengthen supply chains' localisation and resilience in line with Operation 300bn”, AD Ports Group said.
“As part of the UAE's Net Zero by 2050 strategic initiative, it also exemplifies the practical measures being implemented to assist the industrial sector's [gross domestic product] contribution and promote sustainable industrial growth in line with the Cop28 objectives,” it added.
The UAE is expanding its industrial base as part of its Operation 300bn strategy, which aims to more than double the contribution of the industrial sector to economic output from Dh133 billion in 2021, to Dh300 billion ($81.68 billion) by 2031.
Operation 300bn aims to support 13,500 small and medium enterprises in the next decade.
“This signing emphasises the abundant opportunities accessible to all organisations and contributes substantial value to the manufacturing sector in the UAE,” Haojjin Shi, chief executive of Global Fluorine, said.
“By integrating this unit, our factory gains full control over our value chain, empowering us to capitalise on Kezad’s versatile platform, which facilitates advanced manufacturing capabilities.”
AD Ports launched Kezad Group in September to consolidate and grow its Economic Cities and Free Zones offering, as it seeks to strengthen the emirate's position as an industrial and manufacturing centre.
The company's Khalifa Industrial Zone Abu Dhabi and ZonesCorp ― specialised economic zones ― have been integrated into Kezad Group, which comprises 12 economic zones with a total area of 550 square kilometres, including 100 square kilometres designated as free zones.
Launched in 2020, Global Fluorine is the latest company to set up or expand existing production facilities in Kezad Group-operated free zones.
In April, Kezad signed a 50-year land lease agreement with Al Ghurair Foods to set up three food processing projects with total investments worth more than Dh1 billion to enhance the UAE’s food production capabilities and food security.
In December, the Kezad Group signed a preliminary agreement with Dana Steel for the establishment of a new steel plant in Abu Dhabi.
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Engine: 2x201bhp AC Permanent-magnetic electric
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Price estimate: Dh200,000
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The full list of 2020 Brit Award nominees (winners in bold):
British group
Coldplay
Foals
Bring me the Horizon
D-Block Europe
Bastille
British Female
Mabel
Freya Ridings
FKA Twigs
Charli xcx
Mahalia
British male
Harry Styles
Lewis Capaldi
Dave
Michael Kiwanuka
Stormzy
Best new artist
Aitch
Lewis Capaldi
Dave
Mabel
Sam Fender
Best song
Ed Sheeran and Justin Bieber - I Don’t Care
Mabel - Don’t Call Me Up
Calvin Harrison and Rag’n’Bone Man - Giant
Dave - Location
Mark Ronson feat. Miley Cyrus - Nothing Breaks Like A Heart
AJ Tracey - Ladbroke Grove
Lewis Capaldi - Someone you Loved
Tom Walker - Just You and I
Sam Smith and Normani - Dancing with a Stranger
Stormzy - Vossi Bop
International female
Ariana Grande
Billie Eilish
Camila Cabello
Lana Del Rey
Lizzo
International male
Bruce Springsteen
Burna Boy
Tyler, The Creator
Dermot Kennedy
Post Malone
Best album
Stormzy - Heavy is the Head
Michael Kiwanuka - Kiwanuka
Lewis Capaldi - Divinely Uninspired to a Hellish Extent
Dave - Psychodrama
Harry Styles - Fine Line
Rising star
Celeste
Joy Crookes
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
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Price: From Dh1,700,000
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Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Killing of Qassem Suleimani
Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
Schools to implement online system to encouraging transparency and accountability
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
LEAGUE CUP QUARTER-FINAL DRAW
Stoke City v Tottenham
Brentford v Newcastle United
Arsenal v Manchester City
Everton v Manchester United
All ties are to be played the week commencing December 21.
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
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.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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