Month: November 2021

DUBAI, The wide-scale disruption, decarbonisation and digital transformation impacting four of the Middle East’s crucial economic sectors will be laid bare at Expo 2020 Dubai tomorrow (2nd November) when the curtain rises on the inaugural three-day Hypermotion Dubai exhibition and conference series.

An essential gathering for all in the region’s transport, logistics, mobility, and materials handling industries, Hypermotion Dubai, and its co-located Materials Handling Middle East 2021 trade show, will reveal the biggest transformation in the sectors’ histories with advanced technology driving automation and sustainability to evolve the way people travel, transport, and deliver goods.

“This is a magnifying glass view of the here and now and very near future of industries that will be forever changed and will permanently impact global lifestyles,” explained Simon Mellor, CEO of Messe Frankfurt Middle East, which is organising the events as key Expo 2020 features.

Hypermotion Dubai will feature three conferences pivotal for the region’s mobility and logistics sectors with a combined multi-national line-up of over 150 industry pioneers speaking.

These include Anthony Foxx, Chief Policy Officer at Lyft, and a former US Secretary of Transportation; Harj Dhaliwal, Managing Director, Middle East & India, Virgin Hyperloop; Mohammed Al Muallem, Executive Vice President, DP World; Suliman Almazroua, CEO, National Industrial Development Logistics Programme, and Balkiz Sarihan, Head of UAM Strategy, Execution and Partnerships, Airbus.

Hypermotion Lab will give attendees genuine insights into the future solutions being developed in the mobility and logistics arena.

The Smart Mobility Conference has pulled together the industry-defining game-changers and innovators who are reshaping the region’s mass transit industry while Scalex will take a deep dive into the quest for supply chain and logistics excellence including last-mile delivery.

Packing the exhibition floor and conference rooms will be high-level participation from government ministries and authorities, business pioneers, entrepreneurs, technologists, mobility innovators, urban planners, manufacturers and suppliers.

The event will also hear the latest market intelligence on both the GCC logistics and electric vehicle sectors, as exclusively commissioned whitepapers will be presented and act as way finders to the future.

From consultants Frost & Sullivan, there is an update on Gulf container volumes, which rose by more than 15 percent in the first half of 2021, with Saudi Arabia and the UAE accounting for 83 percent of the region’s logistics market.

Hypermotion Dubai will also power the Asyad Logistics Startup Challenge where innovators will network with thousands of decision-makers, investors, and government buyers, to grow their business across three days of mentorship workshops, clinics, and networking while pitching to win up to US$40,000 cash prize.

“For many start-ups, this will be a launchpad as they will be able to pitch their ideas to regional and global investors who are equally keen to meet with some of the brightest innovators, and network with tech giants and corporate buyers from multiple industries,” Mellor explained.

Hypermotion Dubai will run under the patronage of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group.

Source: Emirates News Agency

DUBAI, In the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and the Chairman of the Dubai Supreme Council of Energy, the Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, signed an agreement to acquire the district cooling systems of Dubai International Airport.

The district cooling systems were acquired for a total value of AED1.1 billion, through a combination of internal accruals and debt financing from local and international banks with which Empower has close strategic relations.

The acquisition agreement was signed by Ahmad bin Shafar, CEO, Empower and Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation (DACC), in the presence of Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA and Chairman of Empower.

Under the acquisition agreement, Empower will own and manage all the existing District Cooling infrastructure of Dubai International Airport, with all its facilities and complexes, which have a total cooling capacity of 110,000 refrigeration tonnes (RT), that include five units, and this capacity covers the equivalent of 11 times the consumption of Burj Khalifa, the world’s tallest tower.

Sheikh Ahmed bin Saeed Al Maktoum, said, “The deal is a part of the AED25 billion Public-Private Partnership (PPP) project portfolio announced by the Government of Dubai’s Department of Finance (DOF) at the Dubai International PPP Conference which was held last month at the Expo 2020. With this acquisition, the Dubai Aviation City Corporation has made a big leap through its partnership with Empower, the global leader of the environmentally friendly district cooling industry and in adopting innovative technologies.”

He added, “The deal supports the DACC’s continuous endeavours to achieve its ambitious strategy emanating from both the UAE Vision 2021 for sustainable growth, and the Dubai’s unique vision to promote the values and standards of sustainability and environmental protection. Through this acquisition, both the parties seek to reaffirm Dubai’s leading global position by accelerating the pace of developments by strengthening partnerships, using advanced technologies and adopting innovation in all their activities.”

For his part, Al Tayer said, “The acquisition is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to consolidate Dubai’s global position on the map of sustainable development. It is also an active part in the Dubai Demand Side Management Strategy 2030, of which district cooling is one of its prominent pillars.”

He explained that the acquisition agreement formulates a new concept of partnership between the two parties and transfers its investment outputs to a broader space that comprises the protection of the environment and natural resources, sustaining the momentum of creating environmentally sustainable communities throughout the Emirate, and recording unprecedented levels of performance in improving the efficiency of the energy sector, especially with regard to standards to meet the growing demand for district cooling services, which is mainly in line with Dubai’s vision to be the world’s most sustainable city.

Al Tayer continued, “Empower plays an eminent role in the Dubai’s economic development, and is striving to strengthen its leadership in the district cooling industry locally, regionally and globally, to reaffirm the extent of the growth and prosperity in Dubai’s industrial sector, that is rich in investment opportunities and ability to permanently develop and expand the scope of investment activities related to the present and future of the vital district cooling sector.”

For his side, Al Zaffin said, “We are immensely proud of what we have achieved within the DACC Group and our contribution to help establish the Emirate of Dubai as the foremost global aviation hub, with DXB firmly established as the largest international airport in the World. This strategic partnership with Empower is a testament to our ambition to deliver streamlined operations at DXB and continue the path of high growth. I am certain that Empower will serve Dubai International Airport according to the highest industry standards.”

For his part, Ahmad bin Shafar, said, “We see the acquisition as a long-term partnership with a reputable institution of significant importance on the developmental and economic levels, and Empower is ready with its teams to assume the responsibility imposed by this partnership and looks forward to fulfilling it to the fullest.”

He pointed out that Empower’s superiority and leadership in the district cooling industry and its remarkable success in adopting unprecedented technology in operations, production and provision of services, has made it a unique strategic partner for the largest institutions and mega projects, the latest of which is the Dubai International Airport with all its facilities and complexes.

Source: Emirates News Agency

DUBAI, Emirates has announced that it will reintroduce flights to Algiers, Algeria, from 9th November. Flights from Dubai to Algiers will operate twice a week.

The resumption of flights to Algiers boosts Emirates’ African network to 21 destinations, and represents a full restoration of the airline’s operations into North Africa.

With the easing of travel restrictions, and the acceleration of passenger demand, the airline is advancing its plans to expand its presence across Africa, and will operate 116 weekly flights into the continent with the addition of Algiers. Customers flying to and from Algiers can safely fly to Dubai and enjoy convenient onwards connections to Europe, the Middle East, the Americas and West Asia.

Emirates will operate to Algiers with two weekly flights on Tuesdays and Thursdays and the return flight to Dubai will be linked with Tunis. EK 757 will depart Dubai at 0930hrs, arriving in Algiers at 1400hrs. EK 758 will depart Algiers at 17:00, stopping in Tunis at 18:20. The flight will continue to Dubai, taking off at 19:20 from Tunis, arriving in Dubai at 3:55 the next day.

Source: Emirates News Agency

DUBAI, ENOC Group, the Official Integrated Energy Partner of Expo 2020 Dubai, today earned recognition for its Service Station of the Future as the first project in the Middle East to achieve a LEED Safety First: Cleaning and Disinfecting Your Space, Pilot Credit by the US Green Building Council (USGBC).

To achieve this credit, ENOC was required to create a policy and implement procedures that followed green cleaning best practices that supported a healthy indoor environment and worker safety. In addition to product considerations, the credit also mandated procedures and training for cleaning personnel and occupant education, ensuring occupant and visitor safety against COVID-19.

Saif Humaid Al Falasi, Group CEO, ENOC Group, said, “This is a prestigious recognition for us and a testament of our HSE best practices. Health, safety and environment is an integral part of our organisational culture and a core value that is deeply ingrained across the various facets of our operations. Sustainability, energy efficiency, operational and cost efficiency along with HSE were the key considerations while designing the service station of the future. All COVID-19 safety measures are being followed at the service station to ensure the safety and well-being of all the visitors. Ensuring the health and safety of our employees, customers and stakeholders is and will continue to be a top priority for us.”

“ENOC’s pursuit of sustainable, resilient construction resulted in the world’s first LEED Platinum certified retail fuel station under LEED v4 BD+C, which is an enormous achievement in its own right and sets the tone for green building leadership in the Middle East,” said Mahesh Ramanujam, President and CEO of USGBC, GBCI and Arc. “But ENOC also chose to meet the moment by achieving a LEED Safety First pilot credit. This important step bolsters precautions against COVID-19, ensuring healthy people in healthy places during COVID-19 and far beyond.”

This is followed by the LEED v4 BD+C Platinum Certification that ENOC’s Service Station of Future was awarded earlier this year for its strong focus on renewable energy, water efficiency, energy savings, and reduction in CO2 emissions, making it the first service station in the world to obtain this certification.

The certificate was presented to Zaid Alqufaidi, Managing Director of ENOC Retail by the USGBC’s representative, Deepthy K B, Regional Director of Market Development from GBCI Middle East Markets during a ceremony held at ENOC Group’s headquarters.

Source: Emirates News Agency

DUBAI, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, today announced the listing of 10 government and state-owned companies on the Dubai Financial Market (DFM) as part of accelerating new listings in various sectors including energy, logistics and retail.

H.H. Sheikh Maktoum bin Mohammed also announced the formation of a Dubai Markets Supervisory Committee and specialised courts for capital markets in Dubai. The Deputy Ruler of Dubai said that as part of the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai aims to increase the total volume of its stock markets to AED3 trillion.

The announcements came during the first meeting of the Securities and Exchange Higher Committee chaired by H.H. Sheikh Maktoum bin Mohammed and attended by Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Mohamed Hadi Ahmed Al Husseini, Minister of State for Financial Affairs; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; Essa Kazim, Governor of the Dubai International Financial Centre; Helal Al Marri, Director General of Dubai’s Department of Tourism and Commerce Marketing and Dubai World Trade Centre, Faisal bin Sulaiten, Executive Director of the Economic Security Center of Dubai; Fadel Al Ali, Chairman of the Board of Directors of the Dubai Financial Services Authority and Hamad Buamim, Director General of the Dubai Chamber of Commerce and Industry.

The Securities and Exchange Higher Committee approved the establishment of a market making fund worth up to AED2 billion to increase liquidity in the markets. The Committee will also launch an AED1 billion fund to support tech company IPOs and encourage innovative financial products and solutions. Furthermore, the Committee will mandate the study of a regulatory framework to attract new digital assets to operate from Dubai, in addition to supporting Environmental, Social, and Governance (ESG) factors and reporting in operations, which will contribute to shaping Dubai’s future economy.

The Committee, which is charged with developing the vision for the financial sector and evaluating plans and policies to meet strategic objectives, approved the formation of the Dubai Markets Supervisory Committee, chaired by Dr. Abdulla Al Ghafari. The Committee will be responsible for supervising, monitoring and protecting the rights of shareholders and investors, and enhancing transparency and enforcement in Dubai’s securities and commodities markets through effective coordination between relevant stakeholders The Committee also approved the formation of two specialised courts within the Commercial Court to settle securities disputes starting from January 2022. The courts will be dealing with both major and minor disputes based on the financial value of each case.

Source: Emirates News Agency