Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, has signed a preliminary agreement with the Abu Dhabi Medical Devices Company (ADMD) to supply plastics and develop the emirate’s medical devices sector.
As part of the agreement, Borouge will supply polyolefin — a thermoplastic material used widely in medical devices and packaging — to ADMD.
The use of plastics in health care application has increased owing to spiralling health care demand. The new generation of medical devices is developed using polyolefin instead of traditional materials such as glass, paper, cardboard or metal.
“We are pleased to be part of this important partnership through which we will supply ADMD with our solutions, reinforcing our leading position as the polyolefin solution provider of choice for the UAE healthcare sector,” Khalfan Al Muhairi, senior vice president regional MEAE, Borouge, said in a statement on Tuesday.
ADMD, which produces a range of medical devices, is the only manufacturer of auto-disable syringes in the Middle East and Africa, producing more than 400 million units annually.
The partnership, driven by the Ministry of Industry and Advanced Technoloy, is another “significant” step for Borouge towards supporting the UAE healthcare sector, said the company.
The global medical plastics market, which was valued at $46.1 billion in 2021, is expected to grow annually at a rate of 7.5 per cent from 2022 to 2030, according to Grand View Research.
Last month, the UAE announced the signing of industrial deals worth Dh260 million ($70.79m) between major pharmaceutical and medical companies to manufacture medical equipment locally.
Under the partnerships, PureHealth, one of the largest healthcare providers in the UAE, will work with ADMD, the Abu Dhabi Ports Group and Borouge, to establish a Dh110m medical supplies production line in Abu Dhabi.
Borouge will provide raw materials while the Abu Dhabi Ports Group will provide industrial land in ICAD 1 for the production of medical syringes, administration devices and blood collection tubes.
“Our specialised range of healthcare solutions ensures that the customer’s healthcare business is carried out in a reliable way with respect to the needs of the industry,” Mr Al Muhairi said.
“Going beyond medical compliance documentation and technical services, we gather insights from the value chain partners and incorporate these into our processes, from product conception to production, procurement, support and distribution,” he added.
Borouge reported a 14 per cent rise in revenue for the first nine months of 2022 from the same period a year earlier on higher sales of polypropylene, a key petrochemical.
Earlier this year, the company successfully started operations at its fifth polypropylene unit (PP5) in Ruwais as it continues to expand its production capacity.
The unit will help the UAE to meet the growing global demand for products in the recyclable advanced packaging, infrastructure and industrial sectors.
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
BMW M5 specs
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Power: 727hp
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
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HEADLINE HERE
- I would recommend writing out the text in the body
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- That's about it
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
WITHIN%20SAND
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Global state-owned investor ranking by size
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China
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Japan
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Norway
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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
