Day: May 24, 2021

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EGA unveils new corporate purpose

ABU DHABI, Emirates Global Aluminium today announced its newly-defined corporate purpose: Together, innovating aluminium to make modern life possible.

By fulfilling its purpose in the years and decades to come, EGA will also achieve its new mission to generate value from mining to metal.

EGA is the world’s largest producer of ‘premium aluminium’, with smelters in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine and export facilities in the Republic of Guinea.

Abdulnasser Bin Kalban, EGA’s Chief Executive Officer, said, “We sum up our new purpose in eight simple words: Together, innovating aluminium to make modern life possible. Fulfilling it over the decades ahead will require us to transform our operations and make step-changes in how we contribute to the world and the societies in which we operate, as well as for our people. Becoming an organisation united by a single purpose will enable us to further improve our performance and generate value for our shareholders.

“We have a legacy of more than 40 years of success, and there is much more we can and must do. We are aiming to address some of the biggest opportunities and challenges our industry faces. This is not the work of a year or two; it is the work of a lifetime. And our purpose requires that we see it through. In the coming months, I look forward to detailing some of the bold aspirations for the future we have as a 7,000-strong team.”

EGA was founded as Dubai Aluminium in 1975 by His Highness Sheikh Rashid bin Saeed Al Maktoum as part of an audacious ambition to transform the prospects of the people of Dubai, in line with the vision of His Highness Sheikh Zayed bin Sultan Al Nahyan for the development of the UAE.

In the generation since, EGA has taken the UAE from a country that produced no aluminium to the fifth largest aluminium-producing nation in the world.

EGA, and the aluminium industry around it, today accounts for 1.4 per cent of the UAE’s economy and 1-in-100 UAE jobs.

In Guinea, EGA’s Guinea Alumina Corporation was the largest greenfield mining investment in 40 years and in production it contributes some 5.5 per cent of Guinea’s economy.

Source: Emirates News Agency

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France back at Airport Show to support expectations of Middle East markets

DUBAI, Business France will bring together a delegation of French companies to join the In-Person experience and benefit from face-to-face networking sessions with airport professionals from the Middle East at the Airport Show 2021.

The show will host a French pavilion focused on airport modernisation and new construction projects.

As the growth of the airport sector in the Middle East was highly disturbed since the COVID-19 pandemic, plans are afoot to expand airports in all related sectors specialising in air freight, aircraft construction and business aviation.

In line with France’s commitment to take action in favour of a sustainable world and respond to social and climate issues, exhibiting companies will introduce how their solutions, empowered by strong technological expertise, can reduce the environmental footprints, and how they tackle many current and future challenges.

“It is with a renewed optimism that 10 first-class companies will represent France’s expertise at Airport Show 2021. This three-day live event will be the occasion to share their knowledge, develop valuable partnerships and present innovative technologies, thus bringing the most advanced aviation facilities to the region” commented Frederic Szabo, Managing Director, Business France Middle East.

Before the pandemic, the turnover of the French airport sector represented €63.5 billion globally, while in France the sector consisted of 530 companies employing approximately 100,000 people.

Source: Emirates News Agency

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Ministry of Health takes part in 55th Ordinary Session of the Arab Health Ministers Council

DUBAI, The Ministry of Health and Prevention (MoHAP) has taken part in the 55th Ordinary Session of the Arab Health Ministers Council, to discuss a number of vital topics and draft decisions that would support the efficiency of health sectors in the member states.

Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, represented the UAE in the virtual meeting.

Dr. Hussein Abdul Rahman Al Rand, Assistant Undersecretary of Health Centres and Clinics Sector, also took part in the meeting.

The UAE’s participation aimed to coordinate joint efforts among member states and enhance concerted efforts in facing challenges to improve the performance of health systems in the member states, facilitate access to better health services, and discuss mechanisms of responding to the Covid-19 repercussions.

The meeting discussed several draft decisions to coordinate member states’ positions, consolidate their cooperation, enhance the health of Arab societies, intensify efforts and exchange expertise.

The first draft decision touched on the effectiveness of developing an Arab strategy for obtaining Covid-19 vaccines and unifying ongoing efforts to ensure the provision and equitable distribution of vaccines to Arab countries in addition to a mechanism for implementation.

The second draft mulled the possibility of charting out an Arab strategy for a health-friendly budget, in addition to another draft about forming a unified Arab Health Ministers Council speech before the 74th session of the General Assembly of the World Health Organization.

Also discussed during the virtual meeting were a draft resolution about the statute of the Arab Board of Health Specialisations, in addition to another bill about the Arab Ministerial Council for Tourism to support the re-launch of the revitalisation process for the tourism and travel sector in the Arab countries.

The online event also touched on the possibility of setting up an executive office for the Arab Health Ministers Council and discussed a proposal submitted by the council’s social sector regarding the financial and administrative control mechanisms of the Arab Board of Health Specialisations.

Speaking on the occasion, Al Owais stressed the importance of the UAE’s participation in the meetings, lauding the ongoing efforts and promising results coming out of the online gathering.

“The council’s meetings are of special significance now that they address priority health issues and mechanisms of strengthening joint efforts in facing challenges; promoting joint Arab action and integrating efforts at all levels,” the minister said, adding that it is vital to implement a comprehensive health coverage against the backdrop of pandemics to improve the efficiency of healthcare sectors in the Arab countries.

He expressed his confidence that the decisions and recommendations resulting from the recent meeting would enhance coordination and joint cooperation between member states to guarantee the health and safety of everyone, especially as the health of societies is a shared responsibility entailing a joint Arab action irrespective of the circumstances. The recent online meeting constitutes a qualitative addition to the march of unified Arab action and comes at a critical time where the world is fighting the Covid-19 pandemic, to protect the health and safety of peoples,” Al Owais noted.

Source: Emirates News Agency

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Dubai Chamber to host 6th Global Business Forum Africa in October

DUBAI, The sixth edition of the Global Business Forum (GBF) Africa will be held on October 13-14, 2021 under the theme ”Transformation Through Trade”, Dubai Chamber of Commerce and Industry has announced.

This year’s Forum is organised on the sidelines of Expo 2020 Dubai, a mega event bringing together 173 countries and 24 international organisations.

GBF Africa 2021 will shed light on the global economic recovery following the COVID-19 pandemic and its effects on trade and business around the world. The high-level forum will take a closer look at Africa’s next phase of economic development in the COVID era and beyond, as discussions examine the role of cross-border collaboration in creating new business opportunities and driving sustainable growth across the continent.

As one of Dubai Chamber’s flagship business forums, GBF Africa promotes Dubai as a gateway for African companies that can be leveraged to expand their global footprint as it showcases the emirate’s competitive advantages.

Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, said, “As the Official Business Integration Partner for Expo 2020, Dubai Chamber is organising a wide range of high-profile events during the mega event that will provide local and international companies access to networking and collaboration opportunities. Among these is the 6th Global Business Forum Africa, which serves a catalyst for expanding trade links and economic cooperation between Africa and Dubai.”

The upcoming event builds on the substantial progress achieved by the previous five editions of the forum, which paved the way for new bilateral partnerships and economic benefits, he explained, adding that the timing of the event during Expo 2020 Dubai offers African companies an ideal opportunity to showcase their potential and boost their global reach.

“We welcome our partners from all corners of the African continent and look forward to this opportunity where our local business community can explore prospects of expanding their commercial activities and partnerships in Africa,” Buamim added.

This time around, GBF Africa 2021 is structured around three elements, namely GBF Insight – a high-level, curated programme which includes high-level keynotes and plenary sessions; GBF Connect – a fully comprehensive business matching and networking service which runs over the entirety of the Forum; and the Expert Hub – a platform reserved for representatives from Africa to provide first-hand insights into the investment opportunities in their respective country to the audience directly.

Key topics that will be front and centre at GBF Africa 2021 include the outlook for the African economies, expected impact of the African Continental Free Trade Area, the evolution of global trade, the adoption of advanced technologies and the role of innovation in strengthening capital markets, as well as promising investment opportunities emerging in a post-COVID-19 world.

The Global Business Forum series explores trade and investment potential in promising markets across Africa, the Commonwealth of Independent States (CIS), Latin America and the ASEAN region. Since its launch in 2013, the GBF series has welcomed 32 heads of state and government, 140 ministers and government officials, and 9,950 participants, including business leaders and executives from 65 countries around the world. More than 1,800 business meetings were held between UAE investors and their global counterparts.

Source: Emirates News Agency

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Dubai Economy issues 15,475 new licences in Q1 2021

DUBAI, The Business Registration and Licencing (BRL) sector of Dubai Economy has issued 15,475 new licences during the first quarter of 2021, a growth of 19 percent compared to Q1 2020, when 13,027 licences were issued.

This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors.

Of the new licenses issued in Q1 2021, 58 percent were professional (8,935), followed by 41 percent commercial activities (6,290), and the rest distributed among the tourism and industrial activities.

In terms of distribution of the new licences according to location, Bur Dubai accounts for the largest share (8,220), followed by Deira (7,236), and Hatta (19). The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.

During the first quarter of the year, 99,887 business registration and licencing transactions were completed, a growth of 8 percent compared to 92,325 in Q1 2020, demonstrating the vital role of Dubai Economy in delivering value-added services to the public in Dubai.

License Renewal accounted for 38,090 transactions during Q1 2021, a 4 percent growth compared to Q1 2020 (36,484). This underlines the benefits from the economic stimulus package launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which allows renewal of commercial licences without lease contract.

Auto Renewal via text messages during Q1 2021 accounted for 20,923, 16 percent growth compared to Q1 2020 (18,061). The number of Trade Name Reservation was 17,397, Initial Approvals reached 13,914, and the total number of Commercial Permits was 3,077.

Dubai Economy highlighted the importance of collaborative work by the government and private sectors. The private sector supports economic development by launching competitive and value-added projects under the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

‘Invest in Dubai,’ the first integrated digital business set-up platform, simplifies the business journey without the need to visit service centres. The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences.

Source: Emirates News Agency

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Dubai registers AED92 billion worth of real estate transactions from January – April 2021

DUBAI, Dubai has registered 25,455 real estate transactions worth AED92 billion from January – April 2021, thus achieving an increase of 51 percent in terms of the number of transactions and 72 percent in terms of their value compared to the same period in 2020.

According to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates,’ the real estate sector showed robustness and an ability to adapt to various circumstances and developments.

The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities. 8,749 new investors entered the market from January – April 2021, representing 65 percent of the total number of real estate investors registered in that period, with a growth of 54 percent compared to the same period in 2020.

The bulletin also showed that the total value of real estate investments during the aforementioned period reached AED36 billion, an increase of 44 percent compared to the same period in 2020. This confirms the continued flow of real estate investments since the beginning of the year at a high rate, which also strengthens the trust of local and international investors alike.

187,949 Ejari contracts were recorded in January – April 2021, 58 percent of which were new contracts and 42 percent were renewed contracts.

The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped the list in April 2021, followed by Palm Jumeirah, Wadi Al Safa 5, Wadi Al Safa 7, and Al Yelayiss 2. In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth topped the list in April 2021.

It is expected that the real estate sector will witness increased growth and a greater recovery in the coming period following the permission of Dubai’s Supreme Committee of Crisis and Disaster Management to submit electronic permit applications for business activities of all kinds, in addition to the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the world and will constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.

Source: Emirates News Agency