WEF selects Omar Al Olama for membership of YGLs Forum 2022

DUBAI, The World Economic Forum (WEF) has chosen Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, for the membership of the Young Global Leaders community (YGLs) 2022.

The forum brings together 109 members from the international young leaders, aged 40 years or younger, from public figures, businessmen, social entrepreneurs, academic, social, cultural and sports leaders, and heads of civil society institutions and media sectors.

The YGLs community aims to accelerate the positive impact of a diverse community of responsible leaders across borders and sectors to shape a more inclusive and sustainable future and address challenges. In class 2022, YGL hosts members from 42 countries worldwide, who will join hands to develop leadership programme that will help them achieve greater impact. The programme features executive courses and vast opportunities to collaborate and test ideas with a reliable network of peers.

Al Olama was chosen to be a member of the YGLs community in recognition of his role in implementing the directions and vision of the UAE’s wise leadership leveraging AI solutions, promoting the digital economy, attracting coding talents, developing their capabilities and providing them with opportunities to participate in establishing the pillars of a diverse, digital, future economy.

Al Olama stated that his selection for the membership of the YGLs, class 2022, reflects the global leading position of the UAE in future-related disciplines, enabled by the vision and directives of the wise leadership, who rely on youth in shaping the future, and enhance their participation in leading vital sectors.

“The YGLs community is a global platform that enables sharing the UAE’s experience, pinpointing its leading position and introducing its future directions and vision to the whole world. YGL further has a main role in shaping a better future using the ideas and vision of exceptional young leaders from various sectors and countries worldwide,” he added.

Following the ministerial reshuffle in October 2017, Omar Al Olama joined the UAE government as Minister of State for Artificial Intelligence, before becoming Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications in 2020. Al Olama is spearheading UAE’s efforts to be seen as a global leader in digital economy, with a special focus on enhancing the contribution of UAE’s digital economy to the GDP. He is also focused on strengthening the UAE’s position as a global reference in remote work applications.

Currently, Al Olama is also the Managing Director of the World Government Summit, member of the Board of Trustees of Dubai Future Foundation, and Deputy Managing Director of the Foundation. In addition, he is Chairman of Dubai Chamber of Digital economy and a member of the Future of Digital Economy and Society System Initiative of the World Economic Forum.

Omar Sultan Al Olama holds a Diploma in Project Management and Excellence from the American University of Sharjah and a Bachelor of Business Administration from the American University of Dubai.

In 2004, Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, announced the establishment of the Young Global Leaders, launched later in 2005. From that date on, the forum selects new names for the membership of the forum, which currently includes hundreds of members from countries worldwide.

The community aims to form an integrated global platform for exceptional young leaders, who have the potential to promote partnerships among various sectors. It seeks to invest in their talents and skills to shape the future, develop economies and build sustainable societies, by sharing experiences and success stories to empower young leaders and enhance their capabilities towards finding solutions for the most pressing current and future challenges.

Every year, the World Economic Forum honours 200 outstanding young global leaders, in recognition of their professional achievements, commitment to society causes, and contribution to shaping the future. The YGLs community alumni add up to more than 1,400 members from 120 nationalities, including heads of government, leaders of the private sector, CEOs of prominent companies, in addition to Nobel Prize laureates.

Source: Emirates News Agency

Hamdan bin Mohammed opens University of Birmingham Dubai’s new campus

DUBAI, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, today inaugurated the new campus of University of Birmingham Dubai located in Dubai International Academic City (DIAC), a member of TECOM Group.

Commenting on the occasion, Sheikh Hamdan said Dubai places high priority on building the best possible environment for private universities to flourish in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a prominent global education destination.

Spanning an area of 30,000 square metres, the new campus of the University of Birmingham Dubai offers 46 academic programmes including Biomedical Science, Accounting, Computer Science, Artificial Intelligence and others.

“The institution is among the top 100 universities in the world, which makes it one of the highest-ranked universities in Dubai and the region. 10 of its researchers have received the Nobel Prize,” Sheikh Hamdan said. “Many more prominent universities are set to join Dubai International Academic City in the near future,” he added.

“Dubai, which is home to 46 private universities, has emerged as a leading focal point for higher education that attracts thousands of international students. We aim to make Dubai a global education hub that welcomes students from all over the world,” Sheikh Hamdan added.

Sheikh Hamdan bin Mohammed highlighted the efforts of the UAE and Dubai to enhance higher education as part of its efforts to equip students with the skills needed to succeed in the job market of the future and support the development of an economy based on knowledge and innovation.

The new campus spanning an area of 30,000 square metres features hi-spec laboratory spaces, state-of-the-art learning facilities, an innovation room, large classrooms, as well as a library across two floors, in addition to many other facilities that offer an ideal educational environment for all students.

The University’s new campus offers a wide range of programmes including Biomedical Science Accounting, Banking and Finance, International Commercial Law, Business, Economics, Computer Science, Artificial Intelligence, Mechanical and Civil Engineering, Construction Management, Psychology, Sport Coaching, Urban Planning, Water Resources Management and Teacher Training degrees, including teacher training in Arabic and Special Educational Needs.

Described as an intelligent campus, the new smart Dubai campus has been specifically designed to embrace sustainable practices, ensuring the University leads the way in corporate environmental responsibility. The university deploys some remarkable techniques and technologies to reduce its impact in both Birmingham and Dubai, including installing 23,000 Internet of Things (IoT) sensors which can adjust lighting based on occupancy and environmental changes, in line with the university’s vision to become net zero by 2035.

Uniquely designed in the shape of a crescent moon and inspired by the historic Aston Webb buildings in Birmingham, the new campus will visually fuse the history and stature of Edgbaston campus with the heritage, tradition and beauty of Arabic culture and architecture.

Source: Emirates News Agency

‘1 Billion Meals’ collects 420 million meals from 232,000 donors in just three weeks

DUBAI, The 1 Billion Meals initiative, the region’s largest food donation drive of its kind, has collected 420 million meals to date, just three weeks following its launch by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Organised by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), the initiative provides food support to the underprivileged and the undernourished in 50 countries around the world.

The 1 Billion Meals campaign builds on the success of the 100 Million Meals campaign, which ran during Ramadan last year and exceeded all its targets to collect 220 million meals and distribute them around the world. The 1 Billion Meals campaign will now target a new milestone in the fight against hunger and malnutrition, especially among vulnerable groups of children, refugees, displaced persons and victims of disasters and crises. The target of 1 Billion Meals initiative aims to collect an additional 780 million meals and distribute them to 50 countries around the world.

Mohammad Al Gergawi, Secretary-General of MBRGI, confirmed that the 1 Billion Meals initiative has collected AED200 million in donations, equivalent to 200 million meals, from 232,000 donors to date. In addition to the 220 million meals that were collected and distributed last year, this brings the total amount to 420 million meals.

He highlighted that the initiative has also begun distribution operations in several countries, including Nigeria, Sudan, Albania, Jordan, Kyrgyzstan, Lebanon, India, and Kosovo.

Al Gergawi said, “The influx of donations reflects the comprehensive nature of the initiative that aims to provide food aid as it is a basic human need. It is also a unique response to the call of His Highness Sheikh Mohammed bin Rashid Al Maktoum.”

He confirmed that the launch of the initiative with the start of the Holy Month of Ramadan, which marks a season of good deeds and giving, transformed the donation drive into a social movement. Extending from the UAE to feed the hungry in 50 countries across the globe, it contributes to the battle of more than 800 million people against hunger.

Al Gergawi praised the spirit of human solidarity and the high sense of responsibility shown by the UAE community towards the underprivileged and undernourished, who look to their fellow brothers in humanity to provide a safety net that protects them from the repercussions of food insecurity.

He stressed that the charity auctions gave the 1 Billion Meals initiative a special push and provided a creative way to expand the scope of humanitarian work. He praised the new innovative initiatives that have been developed to support the 1 Billion Meals initiative, playing a key role in accelerating the achievement of the target of one billion meals, which reached the equivalent of 420 million meals to date.

Al Gergawi expressed his confidence in the UAE community of public and private sector organisations, individuals, and philanthropists, to continue actively contributing to the largest food donation drive of its kind in the region until it reaches its ultimate goal of providing one billion meals to millions of individuals and families around the world.

He said, “Today, donors to the 1 Billion Meals initiative are feeding the hungry, embodying the values of the Holy Month of Ramadan. They are also contributing to achieving the second goal of the UN’s Sustainable Development Goals – zero hunger. Lastly, they are renewing faith in humanity by sending, as His Highness Sheikh Mohammed bin Rashid Al Maktoum put it – one billion humanitarian messages from the UAE to the world.”

Donors can contribute to the 1 Billion Meals initiative through the following donation channels – the campaign’s official website: www.1billionmeals.ae; bank transfer to the campaign’s account at Emirates NBD, number: AE300260001015333439802. Donors can also opt to donate AED1 a day through a monthly subscription by sending “Meal” via SMS to 1020 on the du network or 1110 on the Etisalat network. Donations can also be made through campaign’s call center via a toll-free number 8009999.

Source: Emirates News Agency

UAE Ambassador presents credentials to President of Azerbaijan

BAKU, Muhammad Murad Al Balushi presented his credentials as UAE Ambassador to Ilham Aliyev, President of Azerbaijan, at the Presidential Palace in Baku.

Al Balushi conveyed the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

In turn, President Aliyev wished Al Balushi success in his duties aimed at strengthening overall bilateral relations and highlighted his country’s readiness to facilitate Al Balushi’s work.

Al Balushi expressed his pride at representing the UAE in Azerbaijan, as well as his keenness to strengthen bilateral ties and develop their friendship to achieve the aspirations of their peoples.

Source: Emirates News Agency

Al Zeyoudi discusses trade, investment cooperation with Japanese Business Council in Dubai

ABU DHABI, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a meeting with Kenji Ota, General Manager, Mitsubishi Corporation Headquarters for the Middle East and Chairman of the Japanese Business Council (JBC) in Dubai; and a number of Council members.

The meeting touched on ways to enhance business partnerships between Japanese companies and their UAE counterparts, develop Japanese investments in the UAE, and promote knowledge and technology exchange between the two sides.

During the meeting, Al Zeyoudi underlined the strength and vitality of the existing economic relations between the UAE and Japan, built on the foundations of friendship, mutual interests, and fruitful cooperation in all sectors. He noted that they are supported by the shared aspirations of the two countries’ highest leaderships to continuously develop them.

He said, “The UAE and Japan have shared visions for the future and are focused on investing in knowledge, innovation, technology, and sectors of the new economy. We are keen to move forward to a new level of trade and investment cooperation with Japan in these areas and build sustainable private sector partnerships that serve investors and business communities in the two countries.”

The Minister added that the two friendly countries had made great strides in developing their economic partnership to reach the strategic levels seen today, as Japan is the eighth largest global trade partner of the UAE and the fourth largest among non-Arab Asian countries. Meanwhile, the UAE is Japan’s largest Arab trading partner and accounts for 36 percent of its total trade with Arab countries. The non-oil trade between the two countries reached nearly AED47 billion by 2021 with more than 17.4 percent growth compared to 2020.

“We are keen to consolidate the UAE’s position as a major destination for Japanese trade in the region and a vital gateway for its transit towards Middle East and African markets. We will work with the Japanese business community to achieve this shared vision and continue developing partnerships in important sectors in line with future economic trends. These include artificial intelligence, applications of the fourth industrial revolution, information and communications technology, smart transport, space, renewable energy, health care and tourism.”

In addition, Al Zeyoudi outlined the UAE’s new economic model for the next 50 years, founded upon resilience, sustainability, high productivity, and the expansion of strategic partnerships with various global markets of high strategic importance.

He also briefed Japanese companies on the ‘Projects of the 50’ and the overall development of the country’s economic legislation. In addition, the Minister urged the Japanese business community to be a key partner in this economic growth journey and take advantage of the diverse opportunities and incentives offered by the UAE’s business environment.

Japan is one of the UAE’s largest investment partners in both outbound and inbound investments, as Japanese investments in the country currently exceed AED 15 billion, accounting for 3percent of total FDI inflows and more than 8.2 percent of investments from Asian countries. At the same time, the UAE is one of the most important Middle Eastern investors in Japan, with assets valued at AED 4.4 billion as of the end of 2020, representing a 40 percent of total Middle East investment in Japan.

JBC is one of the leading 41 foreign business councils registered with the Dubai Chamber of Commerce and Industry. The Council was established in 2009 with the membership of 32 Japanese companies operating in the UAE, to support the Japanese business community in accessing business and investment opportunities in the UAE and the wider region.

The number of members has expanded to include more than 165 companies that operate and invest in a wide range of vital sectors in the UAE, most notably transport, storage, energy, renewable energy, mining, water solutions, technology, telecommunications, manufacturing, education and real estate.

Source: Emirates News Agency

Federal Tax Authority’s Board of Directors adopts financial statements for 2021, explores development plans

DUBAI, In its second meeting of the year, the Board of Directors of the Federal Tax Authority (FTA) – chaired by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the FTA Board of Directors – adopted the FTA’s financial statements for 2021.

During the meeting held today at the Authority’s headquarters in Dubai, the Board reviewed a report on the FTA’s plans to develop and enhance the tax system’s procedures and bring them in line with best practices, as well as to upgrade services offered to customers through fast, accurate, and easy-to-use digital platforms. The report called for implementing a set of procedures and initiatives to further advance the FTA’s performance through continuous follow-up and development in order to raise the efficiency of the tax system to meet taxpayers’ aspirations.

On a different note, the FTA Board of Directors examined the progress made on developing the draft corporate tax law.

Sheikh Maktoum issued directives to maintain the pace of upgrades made to the FTA’s services, in line with international best practices and digital transformation plans, which were developed to boost the UAE’s competitive edge in terms of services provided, as well as to support the country’s vision to become the world’s highest-ranking government on trust and performance indicators. The directives aim at focusing on the customer and enhancing competencies to become a world leader in government services, drawing on the UAE’s ‘Principles of the 50’ and the terms of the new methodology for government action.

The reports presented during the meeting demonstrate the FTA’s efforts to maintain high performance scores across all activities, Sheikh Maktoum asserted, noting the Authority’s plans to elevate its services to ensure satisfaction for all clients from all segments of society. “The Federal Tax Authority is committed to strengthening its relations with all entities involved in implementing the tax system in the government and private sectors, and to fulfilling its role in driving nationwide economic diversification policies through the administration and collection of federal taxes, in line with best practices,” he said.

“The Authority is constantly reviewing the executive regulations it issues for each tax legislation in order to ensure top-level performance and streamlined procedures,” Sheikh Maktoum explained. “The stages ahead will witness sweeping developments and upgrades to tax systems and procedures in order to enhance the quality of the FTA’s services.”

The Board reviewed a report that outlines the FTA’s accomplishments over the last year and the first quarter of 2022, documents the progress made on existing projects, and lists statistics regarding Value Added Tax (VAT), Excise Tax, Tax Returns, tax payments, and refund requests that have already been processed. Compliance with tax regulations continued to grow across the UAE, and the number of VAT registrants grew to 367,157 at the end of the first quarter of 2022 compared to 358,468 in 2021 marking an increase of 2.42 percent within three months. Meanwhile, the number of Excise Tax registrants reached 1,398 compared to 1,357 last year with an increase of 3.02 percent. Also, the number of Tax Agents has increased to 446 compared to 433 with an increase of 3 percent.

The report revealed that the Authority approved new applications from UAE citizens to recover VAT they incurred on building their new residences; the value of refunds reached AED185,038,134 during the first quarter of 2022, compared to AED118,503,245 in the first quarter of 2021 – a record growth of 56.15 percent. The significant increase reflects the FTA’s commitment to streamlining online procedures for UAE citizens looking to recover VAT they incurred on building their new residences, in line with the leadership’s vision to develop a modern housing system for citizens and ensure their wellbeing, given that they are the main objective and beneficiaries from the initiatives and projects implemented by all state institutions.

Furthermore, the report noted the results of implementation of two phases of the ‘Marking Tobacco and Tobacco Products Scheme’, which aims to halt the sale or possession of all types of cigarettes, waterpipe tobacco (Mu’assel), and electrically heated cigarettes that do not carry the Digital Tax Stamps in local markets.

Source: Emirates News Agency