Day: October 10, 2021

DUBAI, The Dubai World Trade Centre Authority (DWTCA) today announced new regulations to encourage family businesses to establish Single and Multiple Family Office (SFO & MFO) licenses with the free zone.

The regulations address the needs of family-run entities and introduce a new platform for wealthy families to set-up offshore holding companies within DWTCA’s designated free zone to manage their private family global wealth, assets and investments from Dubai, the MENA region’s financial services capital.

Dubai has emerged as one of the most popular cities in the world for ultra-wealthy families, after more than 2,000 high-net-worth individuals moved to the emirate in the first six months of 2021. The city’s population of HNWIs rose 3.8 percent to 54,000, up from 52,000 in December 2020. The emirate’s business-forward outlook and low-risk environment make it an excellent prospect for Single and Multiple Family Offices, Trusts and Foundations.

Speaking on the development, Helal Saeed Al Marri, Director-General of DWTCA, said, “Family businesses are a highly significant segment within today’s global economic landscape and are integral to the wider international investment community. Following an exceptionally challenging year, family businesses worldwide have shown extraordinary resilience and agility, and are eager to diversify and expand into new markets. DWTC Authority recognises the need for a specialised legal and regulatory framework that offers distinct flexibility and fundamental benefits for setting up Single and Multiple Family Offices in Dubai, providing an attractive environment that supports Family Offices to operate successfully.”

DWTCA’s SFO regulations allow for offshore entities, founded directly by members of a single family, to own and manage their collective wealth, assets, businesses and investments through incorporating a new Free Zone Establishment (FZE) or Free Zone Company (FZCO), subsequently licensed to operate from DWTCA’s designated free zone.

Whereas the new MFO regulations cater to the growing international professional and wealth management and advisory service industry providers looking to operate and expand their market presence and management portfolios in the MEASA region. MFO licenses facilitate and enable services offered to multiple families, their members, businesses, entities, trusts and foundations.

Through its new regulatory framework, DWTCA is reaffirming its commitment to family businesses and Dubai’s position as an attractive a hub for local, regional and international family offices. The new SFO regulations follow last month’s agreement between DWTCA and the Securities and Commodities Authority (SCA) to create a framework supporting the regulation, offering, issuance, listing and trading of crypto assets and related financial activities within DWTCA’s free zone.

DWTCA has emerged as a highly sought-after free zone following a period of strong H1 growth in the first half of 2021, with 427 new company registrations – equating to 300 percent year-on-year growth over the same period in 2020.

Al Marri added, “DWTC Authority has made strong progress this year as a free zone of choice for the investor community. With Dubai’s business friendly environment, best in class regulatory options and comprehensive judicial ecosystems, we are confident of maintaining this momentum. DWTC Authority will continue to review and update regulatory and licensing offerings to ensure we always present unique investment opportunities to the international business community.”

Source: Emirates News Agency

DUBAI, In an operation codenamed ‘Scorpion’, the Dubai Police has recently thwarted a smuggling attempt of 500 kilogrammes of pure cocaine into the country for selling and promoting purposes. The narcotics, worth more than AED 500 million (US$136m) in street value, were well-hidden within the structure of a cargo container.

According to Dubai Police, the operation is the region’s largest drug seizure, as it resulted in the arrest of a Middle Eastern gang member operating as an intermediary inside the country for an international drug syndicate and the seizure of drugs he possessed.

Lieutenant General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, said “Op ‘Scorpion’ is another example of their continuous keenness on combating all types of transitional organised crimes and bringing their perpetrators to justice as well as protecting the community against all harms, as constantly directed by H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior.”

Lt. Gen. Al Marri further added that Dubai Police would seize every opportunity to preserve the local, regional and international security and safety in coordination and cooperation with international counterparts.

Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs, said “Op ‘Scorpion’ is a new achievement added to the proud record of Dubai police in combating and thwarting the schemes of drug dealers and promoters.

“It’s a proof of Dubai Police’s highly qualified experts and criminal investigators, as well as the advanced methods and technologies utilised by the Force to combat transitional crime.”

Meanwhile, Brigadier Eid Mohammed Thani Hareb, Director of Anti-Narcotics Department at Dubai Police, said they had placed the suspect under close surveillance round the clock before they raided his place and made the arrest.

“We received a security tip on an international drug syndicate attempting to smuggle a huge amount of pure cocaine hidden in a cargo container into a seaport with the assistance of a Middle Eastern accomplice in the emirate,” Brig. Hareb revealed.

“An investigating team was immediately formed to verify and respond to the security tip” they monitored the suspect’s movements until he received the expected narcotics shipment. Once the shipment arrived, the suspect transported the illegal drugs to another emirate and stored them in a warehouse with the aim of selling and promoting the harmful toxins,” Brig. Hareb added.

Colonel Khalid bin Muwaiza, Deputy Director of the General Department of Anti-Narcotics, revealed the raid’s details and explained that the suspect had rented an SUV and bought angle grinders and other cutting tools to unload the container.

“At the zero hour, our officers raided the warehouse, caught the man red-handed and seized the narcotics,” Col. bin Muwaiza added.

He confirmed that the suspect, who has a criminal record in his country, has confessed to the crime and was referred to the Public Prosecution for further legal action.

Col. bin Muwaiza noted that drug cases require great experience, judgment and accuracy with individual and collective work, they also require patience and deliberation when making decisions.

“This is why Dubai Police always seeks to hon the skills of anti-narcotics officers and constantly provides them with the latest tools and capabilities to deter every criminal who attempts to trade, smuggle or promote the harmful toxins,” he concluded.

Source: Emirates News Agency

DUBAI, Awadh Seghayer Al Ketbi, Director-General of Dubai Health Authority (DHA), today inaugurated the 6th edition of Annual Radiology Meeting (ARM) at the Dubai World Trade Centre.

The premium gathering will continue until 12th October 2021.

On its first day, ARM, held as a physical event with a virtual component, discussed vital topics and the most recent innovations in Radiology. The premium event is expected to attract over 2,000 attendees over 3 days.

Following the inauguration, Al Ketbi toured the exhibition and was accompanied by some of the most prominent specialists in the field, where he was introduced to the latest technologies and innovations presented by 40 top-tier companies.

Commenting on the 6th edition of ARM, Prof. Pia Sundgren, Head of the Department of Radiology, Clinical Sciences, Lund University and Co-Director for Lund University BioImaging Center, Senior consultant in Neuroradiology, Skane University hospital, Lund, Sweden, said, “Collaboration between radiologist, physicists and radiographers is essential to bring research and clinical practice forward in the radiological department. Collaboration with our clinical colleagues is crucial to drive clinical practice forward, and we should all learn from each other. Our superior goal is to help our patients and to improve their quality of life, irrespectively of disease.”

From his side, Dr. Wael Shabana, Associate Professor of Radiology, Section Head of Abdominal Imaging, The Ottawa Hospital, The University of Ottawa, Canada, said, “ARM is the platform that bundles the radiology team together, which offers a great learning opportunity and an amazing platform to exchange wisdom, knowledge, and tips and tricks. It is amazing to have ARM in 2021, after two years of the pandemic which limited lots of great learning opportunities. It is thrilling to be able to travel, learn and enjoy the whole vivid experience of a vivid meeting in an amazing vibrant jewel of the Middle East – Dubai.”

This year, ARM presents a comprehensive scientific agenda featuring 70 high-level scientific sessions and key trending topics such as Artificial Intelligence, Neuroradiology, Pediatric Imaging, CT, MSK, Radiation Protection, COVID-19 while also bringing together 48 expert speakers from various countries, who will be offering their key insights for the next three days. In addition, to enrich students and radiology professionals’ knowledge, ARM provides a great platform to showcase nine poster presentations to research work and engage with visitors and participants attending this pivotal annual radiology gathering. Moreover, and due to the event’s virtual component, delegates worldwide – regardless of any restrictions on traveling in their countries – will have the chance to participate in these rich sessions.

Held on the sideline of the ARM conference, the ‘Radiology Business Hub’, a B2B platform, will facilitate opportunities for collaboration, networking, and building long-lasting relationships between exhibitors, buyers and field experts.

This year, the exhibition, which occupies an overall space of 3,858 sqm, brings together 40 leading brands in the field of radiology and diagnostic imaging, including Bayer and Philips, who will showcase their cutting-edge and innovative technologies and equipment, and most updated medical devices. Moreover, radiography sessions and a virtual ultrasound seminar (for the radiographers) will be held throughout these three days, allowing professionals to exchange knowledge.

The 6th Annual Radiology Meeting in the UAE is organised annually by INDEX Conferences & Exhibitions, a member of INDEX Holding, in collaboration with the Radiology Society of the Emirates (RSE) and the Radiographers Society of the Emirates (RASE). Furthermore, the event is supported by the Arab Board of Radiology and Medical Imaging, UIBC, Radiology Society of Saudi Arabia, Jordanian Radiology Society, Radiological Society of Pakistan and Radiology Association of Bahrain. It is sponsored by Philips, Siemens Healthineers, GE Healthcare, Unimed, Bayer, BD, Agfa Healthcare, Canon, and Infinitt Healthcare.

Source: Emirates News Agency

DUBAI, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today toured a number of pavilions at the Sustainability District at Expo 2020, including those of Seychelles and Montenegro. His Highness was accompanied by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; and H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum.

His Highness Sheikh Mohammed bin Rashid said that conserving resources by rationalising their use is one of the main challenges facing humanity. Consolidated global efforts to ensure the sustainability of resources is essential to ensure the prosperity and wellbeing of future generations.

The UAE recognised the need to address this critical issue at an early stage of its development, thanks to the vision of the late Sheikh Zayed bin Sultan Al Nahyan. All its mega projects across sectors have taken into account the need to balance development and resource conservation. This approach towards sustainable development has guided the country’s growth over the last 50 years and will continue to inform its development in the next 50 years, His Highness said.

The Vice President began his tour with a visit to the Vision Pavilion, which is based on His Highness’s book ‘My Story’ that narrates his life through 50 stories. Paying tribute to His Highness’s contributions to the development of the UAE and Dubai, the Pavilion acquaints visitors with HH Sheikh Mohammed through a more personal lens. An emotional journey offers glimpses into the influences that transformed a young boy into a visionary leader, and an extraordinary man who is admired both by his people and by the many expatriates who call Dubai home.

Guided through a multisensory experience, visitors to the Pavilion have an opportunity to learn about His Highness’s childhood and passions, and the traditional Emirati values instilled in him by his father and grandfather as well as the experiences that influenced his bold vision for Dubai and the UAE. The design of the Pavilion illustrates His Highness’s passion for nature and the natural environment in which he grew up.

Sheikh Mohammed visited the Seychelles Pavilion, which showcases the natural beauty and history of the nation’s islands, the steps being taken to safeguard them, and the opportunities to take part in their preservation. During the tour, His Highness learned about the country’s conservation efforts, its strategic ‘Blue Economy’ initiatives and other projects being implemented to secure the country’s present and future.

The Seychelles Pavilion is designed to highlight the importance of treasuring nature. Drawing from the country’s lost treasure myths and treasure hunting culture, the Pavilion features the hidden treasures of the island nation.

Later, His Highness toured the Montenegro Pavilion, which showcases the European country’s natural wonders, focusing on five key elements: sea, mountains, rivers, lakes and biodiversity. The Pavilion also offers visitors an opportunity to relive the most significant episodes from the country’s rich history and enjoy its world-famous traditional hospitality.

During the tour, His Highness expressed his appreciation for the efforts being undertaken across the globe to preserve and protect the environment and save the planet.

Source: Emirates News Agency

DUBAI, Experts from Suriname have been calling for a balance between sustainability and progress at a forum held in association with Dubai Cares and RewirEd at Expo 2020 Dubai, ending a week of Climate and Biodiversity talks.

The panel included Monique Pool, a wildlife conservationist and CNN hero. Known as the Sloth Lady of Suriname, Monique rescues, rehabilitates and releases sloths, anteaters and armadillos.

Monique revealed she has a specific aim for taking part at Expo 2020 Dubai: “I hope to find investment in speciality honey, produced in Suriname’s forests, so we can protect a variety of exceptional species.” Underlining the importance of her work with marine biodiversity and coastal communities, she said: “I hope to make people aware of just how beautiful Suriname is, both on land and in the marine areas.”

Monique was joined by Professor Sieuwnath Naipal, who is well-loved in Suriname for his work with the mangrove forests.

He specialises in preserving mangroves and increasing their growth to protect the coast from erosion.

Professor Sieuwnath said. “The Amazon produces a lot of sediment that passes along to our [Suriname’s] coast and if we can develop new technology to build the mud up to protect ourselves from rising sea levels, we can create new land for biodiversity and for mangroves, which are very important for mitigating climate change and offers much more for humanity. Mangroves have 10 to 12 connections to the Sustainable Development Goals so if we can create new land, it will be for the world; not only for Suriname.”

Future for Nature Award winner Els van Lavieren, a primatologist studying wildlife and ways to combat the illegal animal trade in Suriname’s forests, joined the panel, along with Dick Lock, a reptile and amphibian expert.

Climate and Biodiversity Week at Expo 2020 gathered young changemakers and climate leaders from areas of science, policy and business, providing a forum for a diverse range of perspectives on how to ensure a climate-safe future for all.

A total of 10 Theme Weeks will be taking place throughout Expo, as part of the Programme for People and Planet, a platform seeking collective and meaningful action to address the world’s most critical challenges and opportunities.

Source: Emirates News Agency

DUBAI, A rare copy of the Holy Quran translation, once owned by the third US President of the Thomas Jefferson, is on display in the Unites States’ pavilion at the Dubai Expo 2020.

Jefferson’s English translation of the Islamic holy book is one of the significant highlights of the Expo’s US Pavilion, themed “Life, Liberty and the Pursuit of the Future,” a riff on Jefferson’s famous phrase from the Declaration of Independence.

Library staff installed the two-volume, 1764 copy of the Quran in a secured case as the first object on display after guests emerge from a sound and light experience that showcases the U.S. founding principles, particularly its innovations.

“Thomas Jefferson was widely interested in and curious about a variety of religious perspectives,” said Librarian of Congress Carla Hayden.

Source: Emirates News Agency