The metaverse has become closer to reality than we could have imagined; residents could be joined by friends from other parts of the world in the form of avatars taking a virtual walk through a park in the city, the director-general of Dubai Municipality said Dubai Municipality has revealed plans to work with private sector companies and investors to create a futuristic, human-centred version of the city in the metaverse called One Human Reality. Speaking at a plenary session titled ‘Operating Cities of Tomorrow’ at the World Government Summit 2022 (WGS2022) in Expo 2020 Dubai the director-general of Dubai …

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New figures from the Dubai Land Department detail hundreds of deals as the property market continues to surge. Hundreds of property deals completed in a single day pushed the amount of real estate transactions to nearly touch AED2 billion in Dubai on Tuesday. According to the figures, Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion and mortgage deals of AED441.56 million, in addition to 11 gift transactions amounting to AED27.4 million on Tuesday, data released by the emirate’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED849.54 million, and …

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Sarah bint Yousef Al Amiri, also chair of the UAE Space Agency, says future-focus will continue to be core goals over next 50 years Sarah bint Yousef Al Amiri, Minister of State for Advanced Technology and chair of the UAE Space Agency, has credited the UAE’s success in adopting innovation and advanced technologies with maximising the country’s soft power. She said the UAE’s positive influence and increasing soft power was the result of “conscious planning, effort and determination”. Her comments follow the UAE being ranked first regionally and 10th globally for its influence in the …

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About 70 per cent of Expo visitors have been from the UAE Expo 2020 Dubai has reached a milestone of 20 million visits as it nears the finish line. The achievement will be celebrated on Saturday at 8.30pm with a special projection on Al Wasl dome and a fireworks show. Visitors have been rushing to the site in Dubai South with 12 days left until the doors close for the last time. About 70 per cent of the total Expo visitor numbers have been from the UAE. The latest figures also show children under the age of 18 have visited more …

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Despite a modest setback at the turn of the year, the UAE GDP is forecast to grow by 6.2 percent in 2022, and 6.7 percent in 2023, backed by expansionary government policy and the surging oil sector The UAE’s economic recovery is on a firm footing, amid lingering Omicron concerns and uncertainty over the sharp escalation of the Russia-Ukraine conflict, according to the latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics. Despite a modest setback at the turn of the year, growth momentum is expected to pick-up in …

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Everdome unveils Hatta as its mission launch site as it plans to take users on a virtual journey from Earth to Mars Everdome, which aims to create the most hyper-realistic metaverse environments, has announced Hatta as its mission launch site as it plans to take users on a journey from Earth to Mars. The company said in a statement that it will use the mountainous region of Hatta in Dubai as it brings brands and people together to create the most realistic web3 experience. Set to launch in three phases throughout 2022, phase 1 of …

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5G is transforming Saudi Arabia’s healthcare sector, said the director of sector development at kingdom’s ministry of Communications and Information Technology Almost two years since the onset of the coronavirus pandemic, the healthcare industry has taken significant steps into the digital realm, with telemedicine and wearables now more commonplace than ever. In Saudi Arabia, IoT and 5G are transforming the healthcare sector, enabling monitoring of patients in remote areas and enabling critical early interventions, explained AlFhadah AlBaiz, director of sector development at the kingdom’s Ministry of Communications and Information Technology. Speaking to Arabian Business ahead of the Smart Healthcare …

How IoT, 5G, and digitalisation are transforming the healthcare Leggi tutto »

The firm shared that its operational performance remains strong despite disruptions. Terminals have remained open to service cargo owners despite challenges faced due to the pandemic Dubai-based multinational logistics firm DP World has revealed record results in FY 2021 with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) increasing 15.3 percent year-on-year to $3.8 billion, and revenue climbing 26.3 percent year-on-year to $10.77 billion. The revenue increased by a margin of $2.2 billion on a reported basis supported by acquisitions and new concessions, including Angola, Unico, and Transworld. In 2021, DP World signed a 20-year concession agreement …

DP World revenues grow to $10.77 billion in FY 2021 supported by acquisitions and new concessions Leggi tutto »

The actions will be accompanied by strategies to unlock capital flows in support of clean energy transition to ensure affordability and reliability Over the next decade, the UAE will focus on driving clean electrification through solar and nuclear, along with the implementation of transparent policies, improving energy efficiency, reducing carbon and methane emissions, and turbocharging innovation to commercialise hydrogen technology. These actions will be accompanied by strategies to unlock capital flows in support of clean energy transition to ensure affordability and reliability, the assistant undersecretary for the Electricity, Water, and Future Energy Sector at the UAE Ministry …

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The total value of the UAE’s non-oil foreign trade climbed 27% year-on-year to $517.27bn (AED1.9tn) in 2021, showcasing consistent growth across all areas of trade, including exports, imports, and re-exports The total value of the UAE’s non-oil foreign trade climbed 27% year-on-year to $517.27bn (AED1.9tn) in 2021 – marking a 11% increase compared to 2019 – showcasing consistent growth across all areas of trade, including exports, imports, and re-exports. The individual non-oil foreign trade figures of all the emirates within the nation also witnessed growth in varying levels, evidencing the comprehensive growth achieved by the …

UAE non-oil exports sets new record, hits $96bn for first time in its history Leggi tutto »

Developed by Dubai Future Foundation and Killa Design, it was designed to gather, thinkers and innovators, with the ambition to define the future. The Museum of the Future is brainchild of the Dubai Future Foundation and Killa Design, and will house a permanent exhibition about technology and creative thinking. It was designed “to celebrate humankind achievements and innovation that guides us into the future”.  The architect Shaun Killa, foundator of Killa Design, composed its form using computer-aided design and employed sustainable architecture strategies, such as solar power. The result is a massive 77 meters high, 7-storey toroidal …

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Domestic property sales for 2021 saw a sharp growth of 335 percent over 2020, reaching $7.492bn with founder Alabbar saying Emaar ‘set to continue to benefit from the fundamental shifts occurring within the real estate market In what is the highest-ever property sales recorded by the company since its incorporation in 1997, Emaar Properties announced a significant increase in property sales of 209 percent, reaching AED33.762bn ($9.192bn), compared to 2020 sales of AED10.902bn ($2.968bn). Domestic property sales for 2021 saw a sharp growth of 335 percent over 2020, reaching to AED27.517bn ($7.492bn). The property developer has handed …

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UAE exports are projected to cross $299bn by 2030, according to Standard Chartered The UAE will be a key driver of global trade growth over the next decade, with its exports projected to grow at an average annual rate of more 6 percent to cross AED1.1 trillion ($299 billion) by 2030. That’s according to a report by Standard Chartered which projects that global exports will almost double from $17.4 trillion to 29.7 trillion over the next decade. The report reveals 13 markets that will drive much of this growth, identifies major corridors, including the UAE. …

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The UAE climbed three spots from its 4th global ranking in last year’s report to accomplish this feat, outperforming other leading global economies studied by the report The Global Entrepreneurship Monitor (GEM) has ranked the UAE first globally in its Global Entrepreneurship Index 2022, which was unveiled this week. The UAE climbed three spots from its 4th global ranking in last year’s report to accomplish this feat, outperforming other leading global economies studied by the report. The UAE achieved the highest score in the general ranking of the index with a score of 6.8. The …

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Milano, 8 febbraio 2022 – Nel quadro della missione a Milano del Ministro dell’Economia degli Emirati Arabi Uniti Abdulla bin Touq Al Marri si è tenuto questa mattina un importante meeting con un ristretto gruppo di selezionati esponenti del mondo industriale, economico, finanziario e accademico italiano. L’incontro, promosso dal presidente di EFG Professor Giovanni Bozzetti autore del libro: “Emirati: nulla è impossibile” (edizioni Mondadori), ha radunato Matteo Lunelli presidente di Altagamma e presidente e amministratore delegato di Cantine Ferrari, Carlo Capasa presidente della Camera nazionale della Moda Italiana, Alfonso Dolce amministratore delegato Dolce & Gabbana, …

IL MINISTRO DELL’ECONOMIA DEGLI EMIRATI ABDULLA BIN TOUQ AL MARRI HA INCONTRATO ESPONENTI TOP DEL MONDO INDUSTRIALE, FINANZIARIO E ACCADEMICO ITALIANO Leggi tutto »

Milano, 7 febbraio -“L’incontro odierno tra il Ministro dell’Economia degli Emirati Arabi Uniti Abdulla bin Touq Al Marri e il Presidente di Regione Lombardia Attilio Fontana conferma il livello ottimale di amicizia tra le due Istituzioni. Questo positivo clima offre le migliori condizioni per la crescita degli scambi commerciali tra i due Paesi. La Lombardia per gli Emirati Arabi Uniti può essere sempre più la porta d’ingresso verso il mercato europeo. Al contempo gli EAU  sono sempre più il “gate” per le imprese italiane per sviluppare business nel Medio Oriente, Africa e Sudest asiatico. Expo …

INCONTRO FONTANA (Regione Lombardia) e ABDULLA BIN TOUQ AL MARRI (Emirati Arabi Uniti): LOMBARDIA E EAU SONO I RISPETTIVI “GATE TO GATE” PER LOMBARDIA E MEDIORIENTE/SUDEST ASIATICO Leggi tutto »

President highlights country’s continuing commitment to protecting the planet President Sheikh Khalifa celebrated the UAE’s “pioneering efforts” to safeguard its natural resources for future generations on the 25th National Environment Day on Friday. Sheikh Khalifa spoke of the country’s determination to promote sustainability and address the challenges of climate change as part of an ambitious green agenda. He reflected on 50 years of achievements and said all of society — from government departments to individuals alike — must continue to support the eco-friendly vision. “The National Environment Day, which we celebrate for the 25th year, …

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It has been named as one of the most beautiful museums in the world by the National Geographic Dubai’s iconic Museum of the Future will open on February 22, 2022. The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who took to social media to share some stunning images of the upcoming landmark. Calling it the “most beautiful building on earth”, Sheikh Mohammed reiterated that 2022 would, God willing, be an exceptional year for the United Arab Emirates. Located on …

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Abu Dhabi National Oil Company says interim results indicate between 1.5–2 trillion standard cubic feet of raw gas in place Abu Dhabi National Oil Company (ADNOC) announced on Thursday the discovery of natural gas resources offshore of the emirate. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni, indicate between 1.5–2 trillion standard cubic feet (TSCF) of raw gas in place. This discovery marks the first from Abu Dhabi’s offshore exploration concessions. A consortium led by Eni and PTT Exploration and Production Public Company Limited (PTTEP) …

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ABU DHABI — Abdullah bin Touq Al Marri, Minister of Economy, has announced that the first edition of the Emirates Investment Summit ‘Investopia’ will take place on 28th March 2022, featuring the attendance of more than 50 leaders and change-makers from around the world. It will witness the participation of 300 government officials, investors and the private sector experts and academics. The summit will host the largest global business incubators and accelerators, to launch 100 innovative ideas and new business opportunities in the world, the region and the UAE. Speaking at the press conference, Bin …

Investopia investment summit to link economy of present to future, with UAE leading the way: Economy Minister Leggi tutto »

The UK, France and the US are among top source countries for FDI Dubai attracted Dh15.9 billion ($4.3bn) in foreign direct investment from 378 projects in the first nine months of 2021 as the emirate’s economy continued to recover from the coronavirus pandemic. “Dubai has continued to introduce and implement initiatives that improve business confidence,” Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the emirate’s Executive Council said. “Global investors have placed their faith in Dubai’s business ecosystem, making it among the most attractive FDI locations in the world. Initiatives such as full foreign ownership, …

Dubai attracts $4.3bn in foreign direct investment in first nine months of 2021 Leggi tutto »

Government-led initiatives in healthcare, digital transformation and sustainability are cementing Dubai’s reputation as a global destination for entrepreneurship and investment, the managing director of Dubai Science Park said Coronavirus has raised global awareness on the value of a dynamic healthcare sector and the role of technology in realising that with the UAE, and Dubai, being no exception. The city’s biomedical and pharmaceutical companies played a vital role in the UAE’s response to the pandemic and continue to do so today with Dubai Science Park’s managing director, Marwan Abdulaziz Janahi telling Arabian Business that Dubai’s pharmaceutical …

Dubai’s pharmaceutical industry to grow from $2.6bn to $6.8bn by 2025 Leggi tutto »

The region has specific advantages that can accelerate the energy transition The global energy transition is an opportunity for the UAE to transform and diversify its economy, Dr. Sultan Al Jaber, the country’s Minister of Industry and Advanced Technology and Special Envoy for Climate Change said Tuesday, state news agency WAM reported. Dr. Al Jaber was speaking during a virtual panel session titled ‘Projecting COP Ambitions across COP27 and COP28 and Economic Diversification Priorities Post-pandemic’ at the Abu Dhabi Sustainability Week (ADSW). “This region has specific advantages that can accelerate the energy transition from our position …

Energy transition is opportunity to transform, diversify UAE economy: Sultan Al Jaber Leggi tutto »

The emirate topped both the Most Popular list and Best Destination for City Lovers in this year’s travel awards Dubai has been named the Most Popular Destination of 2022 in Tripadvisor’s Travellers’ Choice Awards. The emirate topped the list thanks to its blend of “modern culture with history, adventure with world-class shopping and entertainment”. “Catch a show at the Dubai Opera, see downtown from atop the Burj Khalifa and spend an afternoon along Dubai Creek exploring the gold, textile and spice souqs,” Tripadvisor says. “If you’re looking for thrills, you can float above the desert dunes in a …

Dubai named most popular travel destination of 2022 by Tripadvisor Leggi tutto »

The 27th edition of the largest F&B sourcing event will witness the launch of several industry first initiatives that will empower youth and SMEs in the region In its 27th edition, the world’s largest annual F&B sourcing event Gulfood 2022 will run from 13 – 17 February, addressing the key trends disrupting the international food industry agenda. Taking place at the Dubai World Trade Centre (DWTC), the event will highlight the UAE’s status at the forefront of sector change and leading role in tackling global issues with the launch of Gulfood Zero Waste, a global campaign …

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