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In today’s newsletter:

Stay informed with the latest updates from Arabian Business, where our dedicated editorial team brings you a diverse range of stories. Here's what you missed over the weekend:

The UAE has set an ambitious target for half of all vehicles in the country to be electric by 2050, with leading companies joining the “Road2.0 powered by UACA” initiative. Corporate signatories have committed to adopting zero-emission vehicles, marking a significant move toward accelerating the country’s EV adoption in commercial fleets.

In other major developments, the UAE’s Federal Tax Authority (FTA) has issued a call for Resident Juridical Persons to submit Corporate Tax applications by October 31 or face fines. This applies to those with licences issued in August and September, regardless of the year of issuance, under FTA Decision No. 3 of 2024, which enforces Corporate Tax regulations under Federal Decree-Law No. 47 of 2022.

On the transport front, Dubai’s Roads & Transport Authority (RTA) awarded a contract for the AED696.4 million Trade Centre Roundabout Development Project. Directed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, Ruler of Dubai, the project will replace the roundabout with a surface intersection, connecting Sheikh Zayed Road to five key streets through new bridges spanning 5,000 metres.

Aside from this, Kuwait has introduced new traffic laws with higher fines and a cap on resident vehicle numbers. A Ministry of Interior official stated that the law seeks to address dangerous driving behaviour and reduce accidents.

Meanwhile, in Saudi Arabia, a survey by Great Place to Work has revealed the top employers for Saudi nationals in 2024. The “100 Best Workplaces for Saudi Nationals” list recognises 30 large, 30 medium, and 40 small companies with a focus on fostering positive workplace cultures.

^{Until next time, Sharon Benjamin for Arabian Business}

THE LONGER READ:

In an interview on the sidelines of the inaugural Seven Wonders event in Ras Al Khaimah, Bremmer confirmed there have been “no suggestions of any delays” to the landmark project

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