Category: Industry

ABU DHABI: The UAE Cyber Security Council has confirmed the success of national cyber systems in thwarting cyberattacks carried out by terrorist organisations that targeted a number of vital and strategic sectors in the country.

The Council said that cyber emergency systems had been activated nationwide in cooperation with all relevant authorities.

These systems were able to professionally, efficiently, and proactively repel these terrorist cyberattacks and deter anyone who thinks of tampering with the security of the country and its capabilities.

The Council noted that the identities of these terrorist organisations and the location of their cyberattacks have been identified and dealt with in accordance with protection systems and cybersecurity policies.

The Council stressed that all national teams continue to work on fortifying the country’s digital ecosystem in accordance with the best practices and international standards in this regard.

The UAE has a highly developed digital infrastructure capable o
f dealing flexibly and quickly with all cyberattacks, the Council added.

The Council called on all government and private institutions and individuals to be cautious and vigilant to avoid being affected by potential cyberattacks.

The Council urged institutions and individuals to be wary of constantly evolving hacking and electronic fraud tools to avoid cyberattacks that could cause harm and breaches.

The Council emphasised the importance of safeguarding personal data; avoiding disclosing such data through unverified links or unknown messages; utilising only official channels for communication; exercise caution when handling emails; and refraining from opening links unless their legitimacy is confirmed.

The Council strongly emphasised the paramount necessity for vital sectors to engage in active mitigation of cyberattacks through the expeditious deployment of robust protection systems, the rigorous enforcement of established cybersecurity policies, and the timely reporting of any suspicious electronic acti
vity with the potential to cause harm to their systems and electronic environments to the designated authorities.

Source: Emirates News Agency

BEIJING: China’s provincial-level regions have recently announced their 2023 economic performance and 2024 targets, showcasing the country’s upward development trend.

According to a report by People’s Daily Online, all 31 provinces, municipalities, and autonomous regions recorded an increase in GDP last year.

Xizang and Hainan emerged as the top performers with approximately 9.5 and 9.2 percent growth respectively, closely followed by Inner Mongolia at 7.3 percent. Major manufacturing centres such as Jiangsu, Zhejiang, and Guangdong provinces reported GDP growth in the range of 4-6 percent.

Guangdong became the first province to top 13 trillion yuan (US$1.83 trillion) in GDP, maintaining its top position for 35 straight years. Its government report highlighted the vitality of private enterprises, which account for over 10 million individual businesses and 7.8 million total enterprises in the province.

Jiangsu ranked second nationwide with over 12 trillion yuan GDP. Shandong crossed the 9 trillion mark for
the first time, ranking third. Zhejiang reached over 8 trillion yuan GDP, a first for the province.

The growth also reflected quality development. Shandong has China’s best business environment and over 45,000 tech SMEs. Beijing maintained the highest per capita GDP and energy efficiency. Shanghai hit record foreign investment of US$24 billion.

26 cities are now in the “trillion yuan GDP club”, with Jiangsu having the most members. New entrants include Qingdao, Jinan and Yantai.

For 2024, most provinces set 5 percent GDP targets, in line with 2023’s national growth. Xizang and Hainan aim for around 8 percent, the highest targets set. Provinces are also focusing on emerging industries and domestic consumption.

Source: Emirates News Agency

ABU DHABI: Aldar announced today that record development sales and expanded investment portfolio drive the company’s 2023 net profit up 40% to AED4.4 billion, compared to 2022.

In a statement today, the Abu Dhabi-listed property giant, reported the highest-ever quarterly development sales of AED8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.

Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next 2-3 years. A total of 14 new project were launched with successful entry into Dubai and Ras Al Khaimah markets complementing the company’s already dominant position in the emirate of Abu Dhabi.

The company also saw strong demand from end-users and investors, with overseas and resident expat buyers accounting for 66% (AED 16 billion) of UAE sales.

Aldar Investment recorded 40% revenue growth driven by recent acquisitions, active asset management, and strong operational performance across the business, according to the statement.

Commenti
ng on the company’s finanial results, Mohamed Kkalifa Al Mubarak, Chairman of Aldar, said: ‘The strength of the UAE economy, driven by a thriving business-friendly environment, continues to provide conducive conditions for the real estate market. Leveraging its unique platform, Aldar accelerated its transformative growth trajectory in 2023 to deliver remarkable earnings growth, with an intensive programme of new development launches and the enhanced performance of its recurring income portfolio.”

‘By further capitalising on secular trends and the transition to a net-zero economy, we look forward to continuing to play a central role in the UAE’s dynamic socio-economic development and the growth of its real estate sector in the coming years,” he added.

Talal AL Dhiyebi, Group CEO, added: ‘Aldar is transforming into a world-class industry heavyweight, operating at a significantly elevated scale. Over the past five years, our business has grown significantly. Development sales in 2023 surged tenfold compared to
2018, the gross asset value of our investment property portfolio grew by more than fifty percent, and net profit more than doubled, reaching AED 4.4 billion.

‘This tremendous performance over a short timeframe has been witnessed across our core businesses, where we have delivered significant geographic and sector diversification and scale and enhanced long-term resilience. The strength, agility, and scale of our platform will allow Aldar to capitalise on new opportunities to continue driving long-term sustainable growth and shareholder value.’

Source: Emirates News Agency

DUBAI: A total of 3,543 real estate transactions worth over AED9.8 billion were conducted during the week ending 9th February 2024, according to data released by the Dubai Land Department (DLD).

The DLD report showed that 197 plots were sold for AED1.61 billion, while 2,572 apartments and villas were purchased for AED5.68 billion.

The top three transactions were a land in Warsan Fourth sold for AED120.32 million, a land sold for AED78.86 million in Al Barshaa South Third, and another in Wadi Al Safa 3 sold for AED54 million.

Madinat Hind 4 recorded the most sales transactions for this week with 77 transactions worth AED199.72 million, followed by Al Hebiah Fifth with 30 transactions worth AED136.08 million, and Jabal Ali First with 11 transactions worth AED51.65 million.

The top three apartment and villa transfers included one in Island 2 for AED140.45 million, another in Jumeirah First worth AED119 million, and an apartment in Al Safouh Second worth AED80 million.

The total value of mortgaged properties
for the week reached AED1.8 billion. Meanwhile, 135 properties were granted between first-degree relatives worth AED725 million.

Source: Emirates News Agency

ABU DHABI: Several officials affirmed that the National ICV Programme has continued, since its launch within ‘Projects of the 50’ under the umbrella of the Ministry of Industry and Advanced Technology (MoIAT), to achieve qualitative milestones that have contributed to the UAE’s industrial development, attracting local and foreign investments, and supporting the sustainable growth of the national economy.

This came in statements on the occasion of the adoption of a new logo for the National In-Country Value (ICV) Programme through collaboration between MoIAT and strategic partners in both the public and private sectors.

Dr. Saleh Al Hashmi, Head of Commercial Affairs and In-Country Value Promotion at ADNOC, said, ‘ADNOC is proud to be a key enabler of the National In-Country Value Programme. Since 2018, we have driven AED187 billion back into the UAE economy and created 11,500 jobs for UAE Nationals in the private sector. We are also supporting the Make it in the Emirates initiative and creating a wealth of
local manufacturing opportunities for the private sector, as we work towards our target to manufacture AED70 billion of industrial products in the UAE by 2027. We will continue collaborating with MoIAT to empower local industries and enhance the UAE’s industrial base.’

Ghannam Al Mazrouei, Secretary-General of the Emirati Talent Competitiveness Council (Nafis), said, ‘The council is committed to enhancing cooperation with its strategic partners to support and enable the National ICV Programme’s objectives, especially increasing the amount of Emirati talent working in private sector companies. In March 2023, the Emirati Talent Competitiveness Council signed a Memorandum of Understanding with the Ministry of Industry and Advanced Technology and Ministry of Human Resources and Emiratisation to create 500 training and job opportunities for local talent as part of the Industrialist Programme. Under the agreement, the three entities will align the skills of Emiratis with factories’ requirements, enabling them to t
hrive in the industrial and advanced technology sector.’

Al Mazrouei also highlighted the council’s participation in the Make it in the Emirates Forum to support initiatives that empower local talent, developing capabilities and skills to drive the vital sector’s growth and expansion.

Shaista Asif, Group Chief Executive Officer of PureHealth, said, ‘As a partner to the Ministry of Industry and Advanced Technology and a key player in the ICV programme, we take pride in the significant milestones achieved by this national initiative. We firmly believe that the ICV programme is a key catalyst driving growth and value across sectors especially healthcare. The only way we can fulfil our shared ambition of positioning the UAE as a global healthcare capital is by bolstering local industries, increasing internal resilience, and future-proofing our healthcare systems.

“Recognising that we are already a part of the 4th Industrial Revolution, we are future-proofing our healthcare system for a world of Technological S
ingularity. This involves enhancing the self-sufficiency of domestic products and establishing infrastructure through the adoption of advanced technologies, enabling us to lead the way to global competitiveness. PureHealth is dedicated to contributing to the enhancement of the sector, and we extend our commitment to actively support local healthcare manufacturing capabilities.’

Source: Emirates News Agency

DUBAI: The innovation management system of the Federal Tax Authority (FTA) has earned a new international accreditation, in recognition of it implementing global best practices and standards that enhance the effectiveness and efficiency of innovation management.

The Authority has been awarded the ISO 56002:2019 certificate, confirming its success in implementing the international standard for innovation management. This achievement coincides with the FTA’s participation in the monthlong UAE Innovates 2024 initiative.

The certification was granted after experts from the certifying body audited the FTA’s system and verified the accuracy of all related procedures. The Authority passed the audits successfully, confirming that its system provides an effective framework for driving innovation. The certificate also demonstrates that the FTA’s performance ratings in terms of innovation have notably improved, ensuring the Authority’s continued support for regulatory reform programmes.

Khalid Ali Al Bustani, Directo
r-General of the FTA, said, ‘The ISO certification for the innovation management system provides an added layer of assurance to the Federal Tax Authority’s systems, particularly in relation to the innovation environment and its growth. This also demonstrates the Authority’s commitment to establishing an institutional environment that fosters creativity and innovation, and prioritises the development of skills and talents of innovation management employees.’

‘The objective is to encourage the generation of innovative and effective solutions to the challenges and opportunities, while employing innovative tactics to achieve sustainable financial diversification for the UAE for generations to come,’ Al Bustani added. ‘The FTA strives to continuously improve and streamline procedures, provide high-quality services, and facilitate self-compliance.’

For his part, Jassim Al Haddad, Head of the FTA’s Innovation Team, said, ‘Earning this international certificate in the field of institutional innovation is a testamen
t to the Federal Tax Authority’s exceptional structure in the innovation sector, which adheres to the best practices in the field. Implementing the ISO 56002:2019 international standard further confirms that the Authority has successfully developed, implemented, and maintained a secure and effective system for managing innovation, in an effort to enhance its operations and continuously improve the system. This, in turn, helps in creating novel solutions to meet the needs of customers and stakeholders in the tax sector.’

The Federal Tax Authority has been consistently working to adopt international standards for its systems and processes, which includes the ISO 56002:2019 certificate for innovation management, as well as several other international accreditation certificates. The Authority has renewed its accreditation for the international standard for business continuity management system (BCMS) and disaster recovery with an ISO 22301 certification, in addition to earning the ISO 20000 and ISO 27001 accredi
tation certificates for information technology services management system, and the information security management system.

These efforts form part of the Authority’s comprehensive quality system, which was previously certified with the ISO 9001:2015 Quality Management System certificate. The purpose of this system is to enhance the performance of the FTA’s business processes in all areas, ensuring compliance with the requirements of an effective quality management system and a continuous commitment to it in all services provided by the Authority.

Source: Emirates News Agency