Day: June 14, 2022

DUBAI, Initiating a movement in financial literacy amongst the UAE’s youth, National Bonds, an investment company owned by the Investment Corporation of Dubai, has entered a partnership with Taaleem, one of the country’s leading education providers, to empower children of all ages with essential financial planning skills.

In a signing ceremony earlier this month, National Bonds Group CEO, Mohammed Qasim Al Ali, and Taaleem CEO, Alan Williamson, locked in the partnership on behalf of National Bonds and Taaleem.

The partnership will see the launch of an educational campaign amongst over 15,000 students that are part of Taaleem schools in the UAE. The campaign will seek to drive awareness of the paramount power of saving and equip the youth with the knowledge, skills, and confidence to make responsible financial decisions.

The initiative is aligned with the UAE leadership’s vision to encourage a culture of savings and prosperity among nationals and residents alike. The partnership will see National Bonds deliver insightful, interactive seminars and informative kits across the network of 12 Taaleem schools.

National Bonds has also launched an innovative savings programme titled “The Juniors’ Savings Account” to empower students and their parents with the tools to begin saving for their future.

Commenting on the importance of gaining financial literacy at an early age, Al Ali said, “As important financial planning is for our happiness and peace of mind, it is often an area where we develop the learnings and skills far too late in life. Managing our finances is a critical life skill that must be taught and mastered early so we can tackle debt traps and stay ahead of our expenses while also having ample savings.

“Based on our Savings Index, only 56% of people living in the UAE feel like they’re putting aside enough money per month towards their child’s education. Also, only 18% of regular Emirati savers are concerned about saving for their child’s education as a main reason for long-term saving. These facts provide further support for the importance of this initiative.”

He added that the aim of this partnership is to upskill the youth and increase their knowledge of financial life cycle needs, managing debt and savings so they are well-positioned to achieve their financial goals.

Echoing similar sentiments, Williamson said, “Taaleem has become one of the first National Bonds partners to initiate this movement of financial literacy for students as well as educationists across all Taaleem schools. As with any good habit, we believe that gaining financial literacy must start at an early age. We are very excited about this collaboration and are confident of the huge benefits our students, parents and staff members will reap from the partnership.”

The National Bonds’ Junior Savings Account is an exclusively crafted savings plan that allows parents with young children and students the flexibility to save as much or as little as they want each month, while giving them the opportunity to be part of the exclusive junior-only prizes in National Bonds’ Rewards Programme.

Another key programme is the Global Savings Club that has been tailored to the Taaleem education professionals and employees to help them avail the benefits of a savings account, fortify their savings safety net and access a slew of Global Saving Club benefits.

Source: Emirates News Agency

DUBAI, The Dubai Financial Market (DFM) International Investor Roadshow 2022 in London has successfully attracted numerous leading global investment institutions. The event conveyed a strong message on the profound confidence of international investors towards Dubai financial markets’ prospects as well as their enthusiasm to take their robust presence steps farther in the future.

The Roadshow was organised in collaboration with HSBC on 9th and 10th June 2022, with the participation of 9 equity and debt issuers on Dubai capital markets namely; Dubai Electricity and Water Authority (DEWA), Dubai Islamic Bank, Emaar Properties, Emaar Development, Emirates NBD, DP World, Amanat, Aramex, and DFM Company.

The event included 162 One-on-One meetings with senior representatives of 56 international funds managing more than US$2 trillion of assets.

Hamed Ali, CEO of DFM and Nasdaq Dubai, commented, “International investors are actively participating in our market maintaining nearly 52 percent of trading activity and 23 percent of ownership. On the other hand, our listed companies are increasingly opening up to foreign investors. For instance, Aramex recently allowed 100 percent foreign ownership. These positive indicators and initiatives strengthen Dubai capital markets position at the forefront of the most welcoming and receiving of foreign investments in the region. The success of the roadshow as shown by number of institutions and meetings, is also another testament on the robust demand as Dubai accelerates steps to implant its ambitious strategy to develop financial markets and provides further impetus to our constant efforts to invigorate trading activities and attract more local and international investments.”

Abdulfattah Sharaf, CEO of HSBC UAE and Head of International Middle East, said, “The UAE economy is a hub of market activity across the Middle East, as evidenced by the past year’s boom in IPO listings across the country. Despite ongoing global challenges, the UAE economy has been resilient and that is reflected in surging demand from investors, seeking access to this rapidly-emerging market. We are excited to connect our global investors to the opportunities in the UAE and that is why we’ve convened this event.”

Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “At DEWA, we were pleased to meet international investors in person to highlight our achievements and showcase the strength and efficiency of our portfolio of assets as the largest company on the DFM, with a market capitalisation over AED 125 billion (US$34 billion). In Q1 of 2022, DEWA recorded revenue of AED 5.068 billion (US$1.38 billion) and net profit of AED 691 million (US$188 million), up 19 percent from Q1 2021. We were eager to demonstrate the robustness of our sustainability-focused growth strategy that is intended to deliver a strong recurring value proposition to our investors.”

Othman Aljeda, Chief Executive Officer of Aramex, said, “It was great connecting with the international investment community, especially at such an exciting time for Aramex. Our business is more globalised than ever before. We are the first publicly listed UAE onshore company to allow 100 percent foreign ownership of free-floating shares, enabling us to further diversify our shareholder base and welcoming more international investors. With the recently announced decision to fully acquire MyUS, a US-based global cross-border e-Commerce delivery platform – once completed, our largest acquisition to date – we are further expanding our geographic footprint and customer base. Through our well-defined ESG strategy, we are also reemphasising our commitment to becoming a greener, more diverse, and inclusive global corporate citizen.”

The roadshow was organised alongside HSBC’s GCC London Conference held last week focusing on emerging markets, which offered participating companies a unique opportunity to share their business developments and growth strategies with a wide-ranging equity and fixed income international investment institutions.

Source: Emirates News Agency

DUBAI, Emirates Gas, a subsidiary of ENOC Group, announced a partnership with Gas Integrated Solutions (GIS), a subsidiary of Aquacool Metering, a part of Emirates District Cooling (EMICOOL) LLC, wholly owned by Dubai Investments, to enhance safety and security standards in the use and distribution of liquified petroleum gas (LPG) and its derivatives for consumers in the Emirate of Dubai.

The signing ceremony was attended by Burhan Al Hashemi, Managing Director of Commercial and International Sales at ENOC, and Nader Al Fardan, Senior Director – Gas Marketing & General Manager – Emirates Gas LLC, Mohamed Saif Al Ketbi Chairman of Aquacool & GIS, Dr. Adib Moubadder, CEO of Aquacool Metering and Mohammad Alhemeiri, General Manager, Gas Integrated Solutions.

The agreement is focusing on ensuring highest safety and maintenance standards as well as seamless sustainable supply of gas to communities by providing a comprehensive portfolio of integrated smart and innovative solutions for consumers in the residential sector. Emirates Gas will work with GIS to support local authority requirements, and to ensure that technical and safety standards are implemented in the communities. GIS will provide customers across its locations with digital billing and gas management services. Through this partnership, many communities across Dubai will benefit from the services provided in the coming months.

Saif Humaid Al Falasi, Group CEO, ENOC, commented, “As a market leader in the gas industry in the UAE, we are committed to the safety of our customers and consumers. Through this partnership with GIS, we will strengthen our offering in the residential sector by providing complete integrated LPG services in line with the highest standards of safety and security.”

Al Ketbi said, “GIS is committed to upholding the highest safety and security standards in the industry and this new partnership will see Emirates Gas and GIS providing complete integrated LPG services including LPG supply, maintenance, and billing to the residential sector. GIS will be responsible for the agreements with the consumers as a third party, whilst Emirates Gas will focus on delivering the product to the consumers.”

Aquacool Metering has been providing the market with the most modern and accurate pre- and post- services for building owners, developers and other stakeholders seeking a comprehensive utility solution.

Emirates Gas is a pioneer in providing an uninterrupted supply of LPG in the UAE. Over the years, Emirates Gas has continuously worked closely with local authorities to formulate and implement policies, and maintain world-class Health, Safety and Environment (HSE) standards and best practices to serve the industrial, commercial, and residential developments that benefit local communities in Dubai and the UAE.

Source: Emirates News Agency

ABU DHABI, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology (MoIAT) and Chairman of the Industry Development Council, chaired the second meeting of the Industry Development Council, which works on creating a conducive and attractive business environment for local and international investors in the industrial sector.

The Industry Development Council is a platform for cooperation, coordination, and integration among relevant authorities in the UAE’s industrial sector on the federal and local levels, and with the private sector.

During the meeting, the Council reviewed recommendations made at the first meeting and reflected on progress in implementing them and discussed updates on the development of a unified platform for industrial data. Each emirate showcased the incentives it offers to stimulate the industrial sector, support the growth of national industries, and enhance their competitiveness, alongside numerous issues to streamline the business environment and reduce fees for industrial investors.

Empowerment and integration tools Dr. Al Jaber said, “In line with the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the government’s commitment to accelerate the growth of the national industrial sector, we are working on fast-tracking mechanisms for empowerment, integration, and partnership among the public and private sectors to support national projects. This is in alignment of our goals of creating an attractive business environment for local and international investors in the industrial sector and positioning the UAE as a global destination for pioneering future industries.

“In line with the government’s roadmap, we are working on enhancing integration and partnership among federal and local government sectors, and the private sector. The Industrial Development Council teams have set clear strategic aims at the national level, which will be confirmed in the next few weeks, as part of the government’s goals to intensify efforts and fast-track opportunities and investment projects in the industrial sector to boost the national economy.”

He continued, “The Industry Development Council is working to enhance the UAE’s competitive position globally, implementing initiatives, and proposing and drafting policies, laws, legislations and strategies that contribute to attaining sustainable growth and promoting national added value. These efforts aim to attract foreign direct investment, advance quality infrastructure, and enhance consumer confidence across local, regional and international markets in products manufactured in the UAE.”

Enhancing export capacity Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Vice President of the Industry Development Council, said, “The Council’s teams and their ambitious programmes will contribute enormously to enhancing the role the industrial sector plays within the national economy, as it is a key driver for growth. They also target improving the capacity and competitiveness of products manufactured in the UAE across local markets, increasing export capabilities in foreign markets, and establishing a stimulating work system for setting up and developing SMEs.”

Dr. Al Zeyoudi added, “The meeting discussed the teams’ developments (data, policies, legislations, and industrial enablers), and the level of their achievements since the first meeting. We also discussed the developments of the reduction of the cost of doing business in the industrial sector, the developments on the industrial data platform and the quality data that this project will provide to support decision-making. We also discussed the recommendation to conduct an integrated national census project for the industrial sector that would cover all the emirates and their free zones and provide key data for industrial facilities in the country. It would also study the cost of transportation for factory trucks cross the emirates, with the aim of reducing the burdens on the industrial sector.”

The council also reviewed the policy of valuing waste and limiting its export, especially given that factories can reuse waste, such as iron and aluminum waste through recycling, which saves materials, reduces costs and improves sustainability.

Make it in the Emirates Forum The Industry Development Council also discussed the preparations of the Make in the Emirates Forum that will take place on 21st and 22nd June hosted by the Ministry of Industry and Advanced Technology and its strategic partners, represented by Abu Dhabi National Oil Company (ADNOC) and the Department of Economic Development in Abu Dhabi. The Forum will take place at the ADNOC Business Centre in Abu Dhabi and will showcase a number of opportunities and investment projects and will witness the announcement of multiple agreements and MoUs between investors and major Emirati and international industrial companies.

The meeting was attended by Omar Al-Suwaidi, Under-Secretary of MoIAT, Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, Major General Suhail Saeed Al Khaili, Acting Director-General of the Federal Authority for Identity, Citizenship, Customs and Ports Security, Hanan Mansour Ahli, Acting Director of the Federal Centre for Competitiveness and Statistics, Hamid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, and Major General Dr. Mubarak bin Ghafan Al Jabri, Assistant Under-Secretary for Support and Defense Industries at the Ministry of Defense.

The meeting was also attended by Noura Al Marzouqi, Assistant Under-Secretary for the Policy and Strategy Sector at the Ministry of Human Resources and Emiratisation, Rashed Abdulkarim Al Balooshi, Under-Secretary of the Department of Economic Development in Abu Dhabi, Osama Amir Fadhel, Assistant Under-Secretary for the Industry Accelerators Sector at MoIAT and Rapporteur of the Council, Dr. Abdulrahman Al-Shayeb Al-Naqbi, Director-General of the Department of Economic Development in Ras Al Khaimah, Sheikha Abdullah Al Shamsi, Acting Director-General of the Department of Economic Development in Umm Al Quwain, Mohammed Al Kamali, Deputy CEO of Dubai Industries and Exports Development Establishment, Sheikh Abdulaziz bin Hamdan Al Nuaimi, Director of the Export and Investment Development Administration of Department at the Department of Economic Development in Ajman, Nasser Al Mulla, Representative of the Department of Industry and Economy in Fujairah, and Ahmed Al Naqbi, CEO of Emirates Development Bank.

The Industry Development Council focuses on adopting unified performance indicators in the UAE’s industrial sector, following up on their implementation, submitting periodic reports on achievements to the Cabinet, and proposing initiatives and mechanisms to strengthen cooperation and exchange experiences among the public and private sectors.

Source: Emirates News Agency