Day: September 16, 2022

DUBAI, Dubai Electricity and Water Authority (DEWA) recorded a growth in the number of smart water meters by 73.6% between 2018 and 2022. The number of smart metres increased from 566,214 metres in August 2018 to 983,185 metres in August 2022.

 

DEWA has a secure and automated infrastructure to manage metre data. Automating metre readings helps customers receive instant information on their consumption patterns and effectively manage, monitor and control their consumption proactively anytime, anywhere. This also allows customers to promptly detect and fix water leakages to reduce waste. This sustains natural resources and preserves the environment.

 

Saeed Mohammed Al Tayer, MD and CEO of DEWA, said that smart metres are the backbone of the smart grid, and one of the pillars of our digital transformation. They raise operational efficiency and reduce losses.

 

“DEWA has more than two million smart electricity and water metres in Dubai. DEWA’s Smart Metres Analysis and Diagnosis Centre monitors the smart metres remotely every 15 minutes. The smart grid is an integral part of DEWA’s strategy to develop state-of-the-art infrastructure for managing facilities and services according to smart and integrated systems using disruptive technologies and Fourth Industrial Revolution applications such as Artificial Intelligence (AI); Unmanned Aerial Vehicles (UAVs); Blockchain; Internet of Things (IoT), and others. It is a major pillar in the success of smart cities. It also ensures continuity and availability of services around the clock,” he added.

 

Smart metres help customers benefit from the Smart Living initiative launched by DEWA to help customers make smart decisions and adopt a responsible and sustainable lifestyle. The initiative has several features, including the Smart Living dashboard, which enables customers to monitor their consumption and obtain annual, monthly and daily consumption reports.

 

‘My Sustainable Living Programme’ enables customers to compare their consumption with that of similar homes and the Self-Assessment tool includes a survey on electricity and water usage for customers to assess their consumption. DEWA also provides the High-Water Usage Alert under the Smart Response initiative to help customers detect leakages in water connections after the meter.

 

Source: Emirates News Agency

DUBAI, Salik Company today announced that it has increased the number of shares offered in Salik’s Initial Public Offering (IPO) from 1,500,000,000 ordinary shares to 1,867,500,000 ordinary shares, which would result in an increase in the Offer Size from 20.0% to 24.9% of Salik’s share capital, with the Government of Dubai continuing to own 75.1% of Salik’s existing share capital.

 

Salik has also received approval from the Securities and Commodities Authority (SCA) to allocate the increase of the Offer Size to the respective tranches as follows: the First and Third Tranches (in aggregate) will increase from 120,000,000 to 145,725,000 ordinary shares (or c.7.8% of the Offer Size), whilst the Second Tranche (for qualified investors) will increase from 1,380,000,000 to 1,721,775,000 ordinary shares (or c.92.2% of the Offer Size).

 

The new offering size was determined by the Selling Shareholder, following Salik’s decision to set the offer price at AED2.00 per ordinary share on 13th September 2022, providing investors with a highly attractive value proposition. The decision also reflected Salik’s prioritisation of supporting aftermarket trading performance post-listing.

 

The subscription period for the Salik IPO remains unchanged. The UAE Retail Offer will close on 20th September, 2022, and the Qualified Investor Offering will close on 21st September, 2022.

 

Salik is expected to commence trading on the Dubai Financial Market (DFM) on 29th September, 2022, under the symbol “SALIK” and ISIN AEE01110S227. The Company’s starting market capitalisation is expected to be AED15.0 billion (US$4.1 billion).

 

Investors who participated in the UAE Retail Offer will be notified of their allocation of shares via SMS on 26th September, 2022.

 

Source: Emirates News Agency

DUBAI, Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, has received an impressive satisfaction rating of 93 percent in the Customer Satisfaction Survey (CSS), during the first half of 2022.

 

All programmes and courses received a high rating in the customer satisfaction survey, conducted by Ipsos, in which the participants evaluated the programmes from excellent to very good.

 

A total of 390 programmes were delivered by EIBFS, during the six-month period, to around 10,000 professionals working in the banking and financial sector, which included a mix of courses from Banking Annual Training Programme, Insurance Annual Training Programme, learning pathways, privately held programmes, and professional specialised certifications.

 

About 3,200 UAE Nationals enrolled with the EIBFS programmes from January to June 2022 and successfully completed their training marking 32 percent of the total participation.

 

Commenting on this milestone, Jamal Al Jassmi, General Manager of EIBFS, said, “We are pleased to witness the high satisfaction rates and the heavy demand for our professional training which reinforces EIBFS’s position as one of the key banking and finance sector educational institutions in the region. Every year, we curate our training programmes based on the current needs of regional and global markets. This approach has worked well for us and has helped us in our quest to support the professional growth of individuals working in the banking and finance sector.”

 

“We have seen a significant increase in the number of Emirati participants, which is in line with our commitment to support the UAE government’s Emiratisation efforts and the vision of the country’s leadership to enhance the professional abilities and qualifications of the national cadres to achieve a balance between the public and private sectors,” he added.

 

The EIBFS Annual Training Plan has been designed to act as a skills map for financial and banking professionals to deepen specialist skillsets to better serve the UAE’s growing banking ecosystem. The plan features a range of international certificates, professional certificates, Insight e-learning, and learning bundles. Trainees can opt for full-fledged courses, micro-learning modules, or self-paced learning options.

 

EIBFS has also partnered with leading institutes and universities of the world, including the University of Oxford, Chartered Banker, UAE Human Resources Authority, UAE Ministry of Education and Chartered Insurance Institute to bring and offer the best programmes and courses in banking and finance.

 

Over the years, EIBFS has managed to carve out a niche for itself in the region by providing best-in-class training and education programmes in the banking and finance industry and has trained around 300,000 banking professionals during the past 38 years. In 2021, the institute trained 32,317 professionals of which 36 percent were Emirati bankers playing an important role in supporting the UAE’s Emiratisation strategy to increase Emirati representation in the workforce.

 

Source: Emirates News Agency

DUBAI, A total of 2,317 real estate transactions worth AED8.9 billion were conducted during the week ending 16th September, 2022, according to figures released by the Dubai Land Department.

 

A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.

 

The top three transactions were a land in Madinat Al Mataar sold for AED988 million, a land sold for AED259.24 million in Al Yufrah 1, and a land sold for AED988 million in Madinat Al Mataar.

 

Al Hebiah Fifth recorded the most transactions for this week with 66 sales transactions worth AED221.48 million, followed by Nad Al Shiba First with 39 sales transactions worth AED183.93 million, and Jabal Ali First with 33 sales transactions worth AED136 million.

 

The sum of the amount of mortgaged properties for the week reached 930.7 million, while 145 properties were granted between first-degree relatives worth AED205 million.

 

Source: Emirates News Agency