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Showing posts from January, 2024

UAE affirms support for Gaza aid agency as many donor countries suspend payments

  UAE’s Minister of Foreign Affairs,  Sheikh Abdullah bin Zayed Al Nahyan, has called on UNRWA  to ensure urgent, intensive, safe, and unimpeded delivery of humanitarian, relief, and medical aid to Palestinian people in Gaza. The call comes amid increasing controversy over UNRWA employees’ alleged role in the Hamas attack on October 7, which killed around 1,300 people. The Israeli-Hamas war has been ongoing since October 7, with Israel launching retaliatory strikes and claiming at least 26,000 lives. The call came amid increasing controversy over some  UNRWA employees’  alleged role in the Hamas attack. UN Secretary-General Guterres has expressed his horror at the allegations, noting that nine of the 12 implicated individuals were immediately identified and terminated by Lazzarini. The UAE minister commended the agency’s prompt action to investigate the accusations and called upon donor countries that have suspended their funding to UNRWA to reconsider their decisions and continue prov

The new economic licenses’ capital announced in the Emirates surpassed AED 210.7 billion.

  Abu Dhabi’s Business Activity Report for 2023, issued by the Abu Dhabi Department of Economic Development (ADDED), shows significant growth in major indicators, highlighting the attractiveness of the business ecosystem and its ability to attract quality investments. The   report   shows that the Emirate’s strong economic growth, particularly in non-oil sectors, contributes 52.8% of Abu Dhabi’s GDP. In 2023, 24,143 commercial sector licenses were issued, with 94.1% of the total. The total capital of new economic licenses announced exceeded AED210.7 billion. In 2023, 25,647 new economic licenses were issued, with 75,778 licenses renewed, a 3.5% growth. Active licenses in the Emirate increased to 143,617, a 10.9% increase compared to 2022. The professional, tourism, industrial, agricultural, fishery, and livestock sectors saw remarkable growth, with new industrial licenses reaching 363, a 51.25% increase. New tourism licenses reached 219, a 22.35% increase, and the growth rate of new li

Dubai International Growth Initiative to help SMEs establish global presence

  Dubai has announced a Dh500 million ($136 million) Dubai International Growth Initiative to support small and medium-sized enterprises (SMEs) in the emirate to expand in regional and global markets. The initiative is part of Dubai’s strategic commitment to the future development of the economy, as SMEs represent over 90% of registered businesses in the UAE and provide the most job opportunities. The initiative is open to all SMEs founded in Dubai, regardless of their nationality, and Emirates NBD, the largest lender in Dubai by market value, will provide financing to eligible companies at competitive rates. A joint steering committee will be established to guide the initiative, select eligible SMEs, oversee the implementation process, and ensure the move succeeds in meeting the emirate’s strategic objectives. Dubai remains the commercial, financial, and tourism hub of the Middle East, and SMEs are crucial to maintaining the city’s position as an international hub for business and tra

Explore reasons behind Abu Dhabi landing top spot on list of world’s safest cities

  Abu Dhabi has been named the safest city in the world for the eighth consecutive year, with an overall score of 86.8, securing the top spot in the latest global safety ranking of more than 300 cities by  Numbeo . The ranking is based on survey responses of website visitors, who were asked about perceptions of safety and crime levels in their city. Abu Dhabi scored 90.07 and 83.88 in terms of safety walking alone during daylight and during night, considering 528 responses. The capital city also scored 8.81 (very low) in terms of crime, 20.90 (low) for problem corruption and bribery, and 12.45 (very low) for worries being subject to a physical attack because of skin color, ethnic origin, gender, or religion. Abu Dhabi has held Numbeo’s title of the  world’s safest city  since 2017, reflecting the emirate’s global leadership in implementing best security standards and enhancing the quality of life for citizens, residents, and visitors. The online database’s rankings also reflect the UAE

UAE and Vietnam bolster economic cooperation, agree to speed up negotiation for CEPA

  The UAE Ministry of Economy and Vietnam’s Ministry of Industry and Trade (MoIT) have agreed to expedite the negotiation for a  Comprehensive Economic Partnership Agreement (CEPA)  between the two countries. MoIT Minister Nguyen Hong Dien highlighted the improving UAE-Vietnam economic and trade cooperation during a meeting with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi in Hanoi. The UAE is focusing on improving international ties to build on its position as a global trade and logistics hub, with signing CEPAs being key to this goal. Benefits of CEPAs include enhanced market access, lower tariffs, and clear and transparent rules. The UAE is currently the largest export market and the second-largest trade partner of Vietnam in West Asia, with Vietnam’s exports to the UAE reaching over $4 billion and imports from this market hitting over $676 million. The UAE and Vietnam are eager to further improve economic cooperation as they see new opportunities in multiple k

Iranian Drones: Fueling the Flames of Sudan's Civil War

As Sudan’s bloody civil war rages on, the latest development reveals a concerning escalation: Iranian shipments of the Mohajer-6 , an unmanned aerial vehicle armed with precision-guided missiles, to the Sudanese army. Senior Western officials, speaking to Bloomberg, have raised alarms over Iran’s move, suggesting Tehran’s intention to tip the scales in favor of the Sudanese government. This strategic maneuver comes hot on the heels of Iran and Sudan’s decision to renew diplomatic relations, underscoring Tehran’s ambitions to expand its influence in the region. The significance of this intervention cannot be overstated, especially in the context of the broader geopolitical landscape surrounding the Red Sea. With its 400-mile coastline, Sudan occupies a pivotal position in a region coveted by various global actors, including Russia, China, and the United States. The Red Sea’s status as one of the world’s busiest shipping lanes has heightened its strategic importance, turning it into a ba

Over 18.6 million people receive benefits: UAE Food Bank announces annual results for 2023

  The UAE Food Bank, part of the  Mohammed bin Rashid Al Maktoum  Global Initiatives, has announced its 2023 annual results, highlighting its efforts to distribute surplus food and reduce food waste. Since its inception in 2017, the bank has distributed over 68 million meals and organized 367 events, collaborating with 232 strategic partners and formalizing five MoUs with regional food banks. The bank aims to lead the Global Food Security Index by 2051 and aims to achieve a 30% reduction in food waste by 2027. In 2023, the bank distributed more than 18.6 million meals, exceeding its target of 12 million meals. The percentage of volunteers participating in initiatives and activities surpassed 100%. The bank collected various food items, including fruits, vegetables, rice, wheat, pasta, meat, dairy products, cheese products, other grocery items, chocolate, prepared meals, and water, helping millions of people worldwide. The UAE Food Bank has also participated in several local and interna

UAE President shines light on need for sustainable future at ADNOC Board of Directors meeting

  UAE President HH Sheikh Mohamed bin Zayed has directed the Abu Dhabi National Oil Company (ADNOC) to grow its diversified portfolio and ensure a secure and responsible energy supply. The meeting follows the COP28 climate conference in Dubai, which marked significant milestones. The Loss and Damage Fund will compensate developing countries for climate change consequences and transition away from fossil fuels. ADNOC is a catalyst for the UAE’s economic and industrial growth, with a budget allocation of Dh84.4 billion ($23 billion) for decarbonisation projects, technologies, and lower-carbon solutions. The board endorsed the company’s ambition to drive Dh178 billion back into the Emirati economy over the next five years. ADNOC created 6,500 jobs for UAE nationals in the private sector through its  In-Country Value (ICV) programme  in partnership with the Emirati Talent Competitiveness Council (Nafis). The board also heard ADNOC’s steps to meet its Net Zero by 2045 target and directed th

Davos 2024 discussed Disease X. Everything you must known about the hypothetical pandemic

  Global leaders gathered in Switzerland for the annual Davos summit to discuss pressing topics such as climate change, the Israel-Hamas conflict, and Disease X, a hypothetical virus 20 times deadlier than COVID-19. Researchers and experts are preparing a plan to combat such a threat and prepare the global health system for the hypothetical pandemic. In 2022, 300 scientists compiled a list of pathogens they believe can trigger global chaos and should be studied more. The World Health Organisation’s Director-General,  Tedros Adhanom Ghebreyesus , said the COVID-19 pandemic may have been the first “Disease X” and that scientists and experts are actively learning from that experience. A dangerous pathogen like Disease X could already be circulating among animals and not be transmitted to humans. Global organizations have already put initiatives in place in preparation for the next major pandemic, such as the pandemic fund, the mRNA vaccine technology transfer hub, and steps to improve col

UAE, Pakistan ink key investment pacts on rail and marine projects at Davos summit

  The UAE and Pakistan have signed significant investment agreements exceeding $3 billion at the Davos summit in Switzerland, focusing on collaboration in railways, economic zones, and infrastructure. The countries have also signed two  Inter-Governmental Framework  Agreements to strengthen their relations in the marine and logistics sectors, including the potential establishment of a Dedicated Freight Corridor and Economic Zone near Karachi. Pakistan’s Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs, and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation (PCFC), Government of Dubai, signed the pacts. DP World, a Dubai-based multinational logistics company, will act on behalf of the Dubai government, while state-run Pakistan Railways and Port Qasim Authority will act on behalf of the Pakistan government. The pacts represent a significant step in deepening economic relations between the two countries, indicating a commitm

2024 off to a promising start: UAE’s focus on regional stability and economic development

  The UAE is focusing on diplomacy and economic cooperation in 2024, with a focus on the country’s  CEPA programme . The Gulf state announced a limited cabinet reshuffle to infuse more expertise and youthful energy into decision-making and reinforce the core pillars of security, prosperity, and innovation. The UAE has concluded 10 comprehensive economic partnership agreements, marking the current year as a pivotal milestone in forging global connections. The benefits of CEPA agreements include enhanced market access, simpler customs procedures, lower or eliminated tariffs, clear and transparent rules, and rules-based competition. The CEPA programme is expected to boost the country’s exports by 33% and contribute more than $41.7 billion to the national gross domestic product by 2031. During the latest official trip of HH President Sheikh Mohamed bin Zayed to Baku, the UAE and Azerbaijan signed several key memorandums of cooperation, covering strategic collaboration, investments, and fin

GCC countries aren’t competing in economic diversification push, they complement each other: Davos 2024

At the  Davos summit in Switzerland , officials noted that the six Gulf Cooperation Council (GCC) countries are working towards economic diversification rather than competing. The bloc has a GDP of $2.3 trillion a year and is on the path to becoming a $3 trillion GDP per annum economic zone by 2030, rising to $5 trillion by the middle of the century. Growth is driven by sound policy, excellent execution, simplification of business activities, and rapid decision-making. Sheikh Salman bin Khalifa Al Khalifa highlighted the importance of tourism and the GCC nations’ involvement in joint marketing and supporting the region. The GCC is expected to post growth of 3.6% and 3.7% in 2024 and 2025, respectively, higher than the World Bank’s forecast of 2.4% growth globally for this year. The non-oil sector has been driving growth in the six-member bloc, and the GCC and South Korea signed a free-trade agreement in December and a similar deal with Pakistan in September. Jasim Al Zaabi, chairman of

Sustainability and Speed: Saudia to operate flying taxis for future Hajj seasons

  Saudia, the national airline of the Kingdom, is set to launch flying taxis to transport  Hajj and Umrah pilgrims  from Jeddah to hotels in Makkah. The airline is preparing to operate 100 Lilium jets between the Jeddah airport and airstrips in Makkah hotels near the Grand Mosque and other holy places. ‘The  eVTOL (electric Vertical Take-Off and Landing)  aircraft, which can transport four to six passengers, is characterized by a low carbon emissions rate. The airline plans to launch an advanced service to connect various destinations via the advanced aircraft. The electric aircraft features a unique cabin with multiple seat arrangements and spacious interiors, catering to elite guests seeking the finest experiences. The Saudi General Authority of Civil Aviation (GACA) President, Abdulaziz Al-Duailej, called the successful test flight a milestone in the Saudi aviation sector, as the industry employs emerging technologies to contribute to the nation’s GDP and create more jobs.

Sheikh Khaled approves landmark specialised medical city for UAE capital

  Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved a new project — a specialized medical city dedicated to women and children’s  health  in the UAE capital. The medical city is set to open in 2027 and will be established by the Department of Health — Abu Dhabi and PureHealth, owned by the city’s sovereign wealth fund ADQ. The project includes the  Sheikh Khalifa Medical City (SKMC) , which will establish a Centre of Excellence (CoE) for pediatric care, the Corniche Hospital for women and newborns, a rehabilitation facility, and a mental health centre. The CoE will be a 250-bed facility with 200 doctors offering services and specialties in oncology, ophthalmology, liver, kidney and bowel transplantation, neurosurgery, gastroenterology, and cardiac medicine. The project is expected to offer 205 beds, with 90 dedicated to children and 15 maternity wards. A team of 130 doctors and 460 midwifery specialists will also be avail