Month: December 2022

DUBAI, For the 12th time and third successive year, dnata has been named Ground Support Services Provider of the Year at the 2022 Aviation Business Middle East Awards.

Jaffar Dawood, dnata’s Senior Vice President for UAE Airport Operations, who accepted the award on behalf of dnata, said, “Winning this honour for the 12th time is a recognition of our team’s outstanding efforts to consistently deliver world-class services for our airline partners and their customers. We will continue to invest in our people, infrastructure and equipment to be the best in everything we do.”

Over the past year, dnata has continued to scale up operations to support its airline customers’ increased flight operations across more than 120 airports around the world. This included the opening of new, state-of-the-art cargo centres in London, UK and Erbil, Iraq and the expansion of its existing facility in Dallas, USA. In addition, dnata expanded its cargo operations into Cologne, Germany through a strategic acquisition and announced a major, US$200 million investment in a fully automated cargo centre, dnata Cargo City Amsterdam, in The Netherlands.

dnata also invested in cutting-edge technologies and digitalisation to further enhance efficiencies across its operations. Key milestones include the rollout of its digital cargo management system, OneCargo, the development of a next-generation e-commerce platform, and the launch of autonomous drones in its warehouses.

dnata has also continued efforts to optimise resources and reduce its environmental footprint across its global network. Most recently, it has installed renewable energy tech, such as solar panels, heat recovery units and electric vehicle charging, at its existing facilities in the UK and Singapore. dnata will also incorporate carbon reduction initiatives in the construction and operation of its new cargo centres in Iraq and The Netherlands.

dnata offers ground handling, cargo, travel, catering and retail services in 37 countries across six continents. In the first six months of the financial year 2022-23, dnata’s customer-oriented teams handled more than 347,000 aircraft turns, moved over 1.35 million tonnes of cargo, uplifted 50.5 million meals, and recorded a total transaction value (TTV) of travel services of US$1.3 billion.

Source: Emirates News Agency

DUBAI, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, announced that Dubai’s GDP grew 4.6% year-on-year to AED307.5 billion during the first nine months of 2022 compared with the same period last year.

H.H. Sheikh Hamdan bin Mohammed noted that Dubai’s exceptional GDP growth was the result of the efforts of various government and private entities to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai’s economy a global benchmark in sustainability and resilience. Sheikh Hamdan added that Dubai’s responsive and efficient economic framework, along with its ability to track and anticipate demand trends in both the short and long terms, ensure that it can swiftly leverage opportunities and continue its ambitious journey to excellence.

H.H. said: “Dubai’s economy is founded on strong principles of income diversification by developing strategic sectors, promoting future-focused economic activities, implementing prudent fiscal policies, and constantly upgrading regulatory and legal frameworks to encourage investment and support business. Our strong partnership with the private sector, both locally and internationally, is a key enabler for sustaining our growth with a clear vision to maintain Dubai’s position at the forefront of various international competitiveness indicators.”

The Dubai Crown Prince expressed his appreciation to all those who contributed to this exceptional growth despite the global economic slowdown and an uncertain financial environment worldwide. HH said the performance was a testimony to Dubai’s prudent plans, sustainable policies, and strategic public-private partnerships. HH Sheikh Hamdan called upon all sectors to continue innovating and pivoting to maintain Dubai’s leading position as a resilient and dynamic economy.

Remarkable growth

According to the latest economic report by the Dubai Digital Authority’s Dubai Statistics Centre, ‘Wholesale and Retail Trade’ accounted for 24.1% of Dubai’s GDP during the January-September period this year, maintaining its position as the top contributor to the emirate’s economy. In terms of growth, the hospitality and F&B services outperformed all other sectors, with a year-on-year increase of 28% during the year’s first nine months.

Among notable sectoral performances is the remarkable growth in ‘Transport and Storage,’ accounting for 2.5 percentage points or more than half of the 4.6 percentage-point growth in Dubai’s GDP in the first nine months of 2022. The fact that the sector’s contribution to the overall GDP stood at just 11.6% during the period underscores the dynamism of Dubai’s economy, highlighting how different activities and sectors integrate to lend robustness and strength to the emirate’s economy.

Hamad Obaid Al Mansoori, Director General of Digital Dubai Authority, said: “These figures emphasise the solid foundations of Dubai’s economy, reinforced by the government’s successful economic policies and programmes. Dubai presents a resilient economic model supported by rational leadership, a strong economic framework, dynamic workflow, robust infrastructure, and world-class quality of service. Despite the global uncertainty, Dubai and the UAE are confidently moving towards a future shaped by the vision of its leadership, the intellect of its citizens and the dedication of its employees.”

Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism, said: “These positive economic indicators validate both the strength of Dubai’s business ecosystem to achieve robust and sustainable growth, and the government’s business-enabling policies, attractive fiscal measures, and investor-centric approach in delivering this.

“Under Dubai’s decisive leadership, we will continue to intensify our efforts, consolidate public-private partnerships, and enhance Dubai’s status as a magnet for global investment and talent. We strive to further improve the competitiveness of our economic and tourism pillars and related sectors, such as trade, retail, restaurants, and hotels – all of which have witnessed high growth.”

1.6% Growth in Trade Activity

The Wholesale and Retail Trade sector reached a value of AED74 billion during the first nine months of 2022, growing by 1.6% compared with the same period in 2021. The activity accounted for 24.1% of Dubai’s nine-month GDP and contributed 9% (more than 0.4 percentage points) to the emirate’s GDP growth. Dubai’s vibrant retail sector is the world’s top market for international brands. It is also a thriving hub for international trade and re-export, connecting the East with the West for foodstuff, commodities, and consumer and capital goods, among others.

26.3% Growth in Transport & Storage Activity

The Transport and Storage sector reached a value of AED35.8 billion during the first nine months of 2022, growing by a remarkable 26.3% compared with the same period in 2021. The activity, which accounted for an impressive 2.5 percentage point growth in the emirate’s GDP during the period, includes transportation of passengers and cargo by rail, road, water or air. It includes associated activities such as terminal and parking facilities, cargo handling, storage facilities, etc.

Within the sector, air transport contributed the lion’s share to its value and growth due to a significant increase in demand for air services. Dubai’s airlines witnessed a 151% increase in the number of passengers they flew during the first nine months of this year compared with the same period last year, thanks to the easing of travel restrictions in most countries worldwide.

28% Growth in Accommodation & Food Services Activity

In terms of growth in the first nine months of 2022, hospitality and F&B outperformed all other economic activities. The Accommodation and Food Services activity reached a value of AED15.8 billion during the first nine months of 2022, growing by an exceptional 28% compared with the same period in 2021. The sector accounted for a 5.1% share of Dubai’s GDP and a 26% share (1.2 percentage points) of GDP growth during the nine months.

The latest data from the Department of Economy and Tourism shows that Dubai hosted 10.12 million international visitors from January to September 2022 compared with 3.85 million visitors during the same period of last year, a remarkable growth of 163% y-o-y. The exceptional performance and a robust recovery in tourism can be credited to the efforts of relevant authorities and government entities that organised and implemented a packed and vibrant calendar of events and activities to attract visitors.

2.5% Growth in Real Estate Activity

Dubai’s real estate activity grew by 2.5% y-o-y during the first nine months of 2022, accounting for a 9.1% share of the emirate’s GDP and contributing 5% (0.23 percentage points) to the overall GDP growth. The growth results from a 76% year-on-year increase in real estate sales during the first nine months of the year, according to Dubai Land Department (DLD) data. The sector benefitted from the Dubai government’s economic stimulus packages and enhanced transparency, boosting investor confidence.

1.2% Growth of the Financial Sector

Financial and insurance activities reached a value of AED32.8 billion during the first nine months of 2022, growing by 1.2% compared to 2021. The sector accounted for a 10.7% share of Dubai’s GDP and a 3% share (0.14 percentage points) of GDP growth during the nine months.

UAE Central Bank data shows a year-on-year increase of 1.4% in loans and a 4.9% rise in deposits compared with the same period last year. The sector benefitted from a 1.1% decrease in interest rates on loans and a 15% decrease in interest rates on deposits during the nine-month period, which boosted the banking sector’s bottom line.

Source: Emirates News Agency

SHARJAH, The Environment and Protected Areas Authority in Sharjah (EPAA) announced an increase in participation in the 11th session of the Sharjah Sustainability Award for 2022-2023, with 485 entries received from university students, colleges, and government, private and foreign schools from different regions of the country, and youth centres in Sharjah.

Attracting and highlighting innovative, creative projects, independent activities, and scientific and environmental research

Hana Saif Al Suwaidi, Chairperson of the EPAA, said, “The increased turnout and participation in this annual award confirms its commitment to its environmental and educational mission. It continues to attract and highlight creative talent, innovative projects, independent activities, and scientific and environmental research from students and members of the two administrative bodies. Teaching in universities and schools and working to invest in the rich and qualitative ideas they bring to promote a sustainable environment in the UAE helps enrich environmentally-friendly practices inside and outside educational institutions.”

Al Suwaidi stressed that such environmental initiatives are in line with the vision and directives of H.H. Dr. Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, regarding the need to develop projects to protect the environment, preserve biodiversity, and serve people by providing a safe and sustainable future.

311 entries from university and college students and 174 entries from school students

In its two main categories, “green schools” and “universities”, 311 entries were received from university and college students and 174 from school students across the UAE.

The EPAA is keen to develop the award periodically by extending the scope to include students of all disciplines in higher education institutions, universities, colleges, and institutes in the UAE. This reflected positively in achieving an increase in the total number of entries from students at the University of Sharjah, American University of Sharjah, Al Qasimia University, and Skyline University College in Sharjah, as well as Khalifa University, United Arab Emirates University, Abu Dhabi University, Ajman University, Sorbonne University in Abu Dhabi, British University in Dubai and Higher Colleges of Technology.

9 categories fall into six domains for university category

Entries were divided into nine categories within six key domains: Sustainable design and construction, Scientific Research in sustainability, Applications of artificial intelligence in sustainability, Preserving and protecting environmental resources, Future energy and emissions, and Sustainability in protecting human health and the environment.

Diverse participation from 174 public, private and foreign schools and centres competing in 13 categories over 7 domains

The current session also witnessed the diverse participation of 174 public, private and foreign schools and centres from the emirates of Sharjah, Abu Dhabi, Dubai, Ajman, Ras al Khaimah, Fujairah, and its affiliated cities and regions in environmental innovator, creative writing for a short story in Arabic and English, environmental project in artificial intelligence, short film, sustainable environmental application project, the rationalisation of electric energy and water and the green school. Nominations were also received in the Distinguished Teacher Award category and nominations from members of the administrative and teaching staff of the schools in the Distinguished School Award category for the green school domain.

Entry to the awards was closed on October 2022. Initial evaluation of the projects and nominations will begin, with distinguished projects sorted according to how they meet the conditions and criteria of the award. This process will be followed by a final evaluation conducted by members of the project arbitration team during March and April 2023.

The evaluation process will also include field visits, meetings with stakeholders in schools and universities, and the organisation of an exhibition of university students’ projects, where the winners’ names will be announced and honoured during a closing ceremony held at the end of May 2023.

Source: Emirates News Agency

attract FDI from key markets of strategic importance to Dubai, promoting the emirate as a preferred business hub and gateway to access emerging markets.

Al Hashemi added, “Through global network development, business engagement events and facilitation of public-private sector partnerships, we provide our member companies with unparalleled opportunities to navigate the diverse investment opportunities in the region. The economic potential in Egypt, Israel, and Türkiye, is impressive. We will continue to drive bilateral trade between the UAE and the three countries to boost collaboration in new and existing commercial sectors and unlock the endless opportunities of Dubai’s highly diverse business environment for Egyptian, Israeli, and Turkish businesses.”

Egypt

With trade between UAE and Egypt reaching US$7.5 billion in 2021, Dubai International Chamber’s new office in Cairo will strengthen the commercial relationship between the two countries, boosting investment ties in key sectors, including trade manufacturing, agribusiness, IT and maritime.

The Cairo office will offer Dubai businesses market intelligence, route-to-market strategies, and operational set-up expertise, maximising business opportunities in Egypt. Similarly, Egyptian MNCs and SMEs will stand to gain market and operational expertise and access to trustworthy partners in Dubai.

Egypt was Dubai’s second trading partner on the African continent in 2021 and ranked 20th globally on the list of Dubai’s trading partners last year. The number of Egyptian companies registered as members of the Dubai Chamber of Commerce and operating in the emirate amounted to more than 14,700 companies, which represents a growth of 103 percent compared to 2016 numbers, which reflected Dubai’s importance and reputation for Egyptian businessmen and entrepreneurs. In addition, Egypt is one of the largest start-up hubs on the African continent and accounts for 14 percent of all start-ups in Africa, according to an OECD report.

Israel

Israel is a market of strategic importance to Dubai. Since the UAE and Israel signed the historic Abraham Accords in 2020, the bilateral trade between the two countries dramatically increased reaching $1.19 billion in 2021.

The Tel Aviv office further strengthens the trade relationship between UAE and Israel, unlocking opportunities, particularly in electronics, water security, clean energy, space, retail, culture, machinery, vehicles, chemicals, and food.

The Tel Aviv office will empower Dubai businesses to explore expansion opportunities across Israel, connecting them with trusted stakeholders and potential partners to help them access new markets, scale their operations, and secure cross-border partnerships.

It will also support Israeli investors looking for business opportunities in Dubai and enable Israeli MNCs and SMEs to leverage the emirate’s strategic location, connectivity and privileged geographical access to expand into the MENASA region.

Türkiye

Non-oil trade between Dubai and Türkiye reached $12.8 billion in 2021, making Türkiye the 7th largest trading partner to the emirate. The UAE is Türkiye’s largest trade partner in the Gulf, and with the anticipated CEPA free trade agreement between the two countries, bilateral trade is expected to double to $27.4 billion.

Through the new office, Dubai International Chambers aims to strengthen an already robust commercial relationship between the UAE and Türkiye, capitalising on new trade and investment opportunities in key sectors such as automotive, agriculture, textile, logistics and chemicals.

The Istanbul office will create new channels for communication and economic cooperation between UAE and Turkish businesses, working with Turkish partners to co-organise networking events, business seminars and business matching initiatives.

It will also focus its efforts on building strong relationships with key public and private sector stakeholders, supporting Dubai companies to expand into Türkiye and assisting Turkish companies in entering the Dubai market and expanding internationally through the emirate.

Source: Emirates News Agency

DUBAI, Dubai Municipality has launched the geospatial business and innovation incubator, ‘GeoHub’ within the framework of joint cooperation by its Geographical Information System (GIS) Centre with the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) and the Hamdan Innovation Incubator.

The incubator is one of the first in the region based on two ecosystems, first being creativity, which includes the entrepreneurship ecosystem and the second being innovation that includes academic development ecosystem.

The launch reflects the Municipality’s commitment to provide the best services that meet international standards in various fields and Dubai Government’ s directives on complete smart transformation.

A delegation from Dubai SME and Hamdan Innovation Incubator evaluated the GeoHub and ensured its adherence to accreditation standards during a visit to the GIS centre.

During the visit, the centre’s working team debriefed the delegation on the goal of the GeoHub incubator and its techniques of subscription and working mechanisms. In addition, the team presented its achievements, including key projects and research in areas of GIS and municipal work, as well as the services it offers, such as delivering geospatial services and data to facilitate innovative projects, creative spaces, and geospatial software and licenses.

In the future, specialists and consultants will offer members and entrepreneurs associated with the incubator with required support to implement their projects and the Centre will further conduct workshops to attract investments to the creative geospatial initiatives and projects.

The incubator aims to develop the latest working models, which establishes directives to solidify the Municipality’s leading position in nurturing best creative practices, supporting startups, offering leading companies with investment opportunities in municipal work and attracting new geospatial innovation, research, and development in Dubai.

The new working model reinforces Dubai Municipality’s partnership with academic institutions and investment companies, through which it targets to establish an effective and sustainable communication system to ensure creativity and innovation to support its strategic vision.

Source: Emirates News Agency