Category: Industry

SHARJAH: As the Sharjah Entrepreneurship Festival (SEF) gears up for its 7th edition on 3rd-4th February 2024, it brings with it an exclusive lineup of more than 30 workshops designed to provide experiences curated to equip attendees with practical skills, knowledge, and inspiration.

SEF 2024 aims to create a vibrant ecosystem for collaborative innovation and collective impact under the overarching theme of “Our Shared Canvas.” It will feature workshops led by industry leaders and global experts from renowned organisations, including Linkedin, PWC, Sukoun, and School of Humanity, to name a few.

Aligned with Sharjah Entrepreneurial Centre’s (Sheraa) commitment to fostering innovation and collaboration, the organiser of this yearly global gathering, these workshops will cover a wide array of topics.

For LinkedIn’s workshop, “Building Your Personal Brand,” experts from the global social powerhouse will impart practical online presence and networking strategies, equipping attendees with the skills and confiden
ce to make them stand out in the job market. On the other hand, in “Less Branding, More Identity” with Mohammed Abualqussam and Naz Naddaf of Sukoun, attendees will explore authentic identity-building beyond conventional branding, giving them a niche approach to self-representation.

“Jobs Industries of the Future” by The School of Humanity will provide an outlook on emerging careers while promoting adaptability in the professional environment. “Keep Calm and Carry on: Healing the Stress Epidemic” with Dr.Shefali Verma, Medical Biohacker, Healthcare Consultant and Educator, will equip entrepreneurs with techniques to avoid burnout and how to be proactive in stress management, while respected auditor and accountant Saleh Al Nuaimi’s “How to Start a Business with Zero Capital” will share creative and strategic approaches for launching ventures without substantial financial investment.

Attendees to SEF 2024 will get to uncover the art of compelling storytelling in modern media with Richard Fitzgerald from Augus
tus Media’s “Crafting Narratives” workshop, offering techniques to captivate audiences. In “Making Your Movie Magic Happen with Film Finance 101” by Nayla Al Khaja, aspiring filmmakers will gain knowledge in film finance for turning creative visions into reality.

Abdulla Al Sharhan from Sharjah Media City (Shams) will guide attendees in “Using AI to Design and Produce HQ Professional Images,” unlocking the potential of AI in visual asset creation.

Ash Bhatia from Enhance Ventures will lead the workshop “Building Ventures for Corporate Government Entities”, providing entrepreneurs with strategic approaches to establish and scale ventures tailored for corporate and government collaborations.

Attendees will gain valuable insights for establishing a venture in the country with “How to start a business in UAE” by the Emirates Entrepreneurs Association, while PWC’s “AI Ethical Toolkit” will equip participants to navigate AI’s ethical dimensions through an interactive ESG board game.

With a range of workshops fr
om Silver Fern Digital, the renowned e-learning platform, their experts will empower entrepreneurs with insights into streamlining a minimum viable product, building competitive business models, understanding new-age leadership, and design-led product building.

Finally, SoiLAB, Sharjah’s Open Innovation Lab, is organising Master Classes on 3D Printing, Laser Cutting, and Advanced 3D Scanning, offering an immersive dive into technological innovation and leaving attendees with a wealth of newly found skills and knowledge.

Source: Emirates News Agency

DUBAI: DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, affirmed its goal of attracting greater levels of foreign direct investment (FDI) from the United Kingdom during the ninth edition of its global trade roadshow, Made For Trade Live, in London.

UK-UAE bilateral trade grew 47.3% year-on-year to reach GBP 25.5 billion (AED 119 billion) in the four quarters to the end of Q2 2023 whilst DMCC presented a range of other growth opportunities for British businesses to set up in Dubai and tap into some of the world’s fastest growing markets.

Over 200 British companies joined DMCC’s business district in 2023 alone, taking the total to 2,080, and representing a 10% year-on-year growth.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, ‘In the past 12 months we have continued to enhance DMCC’s value proposition, driving major structural changes to the business district and attracting new levels of FDI to Dubai. With an intake o
f 2,700 new companies last year, including 200 British companies, we have seen strong growth across our ecosystems and in particular in our crypto and gaming centres, whilst a new DMCC AI Centre is due to launch imminently. Investments in infrastructure are critical to absorbing such demand, and we opened our new headquarters of Uptown Tower last year, including 22 floors of Grade A office space for our members in the first of nine commercial and residential towers to crown Uptown Dubai district.’

The event was hosted at the Arab British Chamber of Commerce in partnership with the Embassy of the United Arab Emirates in London. Senior DMCC executives briefed 160 business leaders from various sectors on the ease of doing business in Dubai through DMCC, one of the world’s most interconnected business districts. The discussion shed light on Dubai’s resilience to global economic headwinds, its low inflationary environment and business-friendly policies, which have cemented its reputation as an international busin
ess hub.

DMCC’s Made for Trade Live roadshows play an influential role in showcasing Dubai as a prime destination for business. Through the series, DMCC highlights Dubai’s unique value proposition to attracting FDI to the emirate. DMCC accounts for 11% of Dubai’s annual FDI inflows and the free zone recorded its second best year on record in 2023 by welcoming nearly 2,700 new companies to the district. DMCC is now home to over 24,000 businesses from across the world.

Source: Emirates News Agency

HONG KONG: Dr. Mohamed Maait, the Egyptian Minister of Finance, affirmed the Egyptian government’s keenness to explore the Asian financial market to diversify sources of funding and leverage opportunities available in those markets, contributing to maximising efforts to reduce financing costs.

During a panel discussion today at his participation in the Asian Financial Forum in Hong Kong, Maait stated, “We are expanding our green, sustainable, and low-cost blue financing, with the aim of directing it towards funding projects in sustainable public transportation, health, education, agriculture, food, and other socially impactful projects.”

He highlighted Egypt’s strategy in diversifying funding sources and international markets, citing the issuance of the first green sovereign bonds in the Middle East and North Africa. Egypt issued sustainable “Panda bond” in the Chinese capital market and successfully returned to the Japanese markets by executing the second international issuance of “Samurai” bonds. This ap
proach attracts new segments of investors, contributing to the achievement of sustainable development goals.

He pointed out the role of international multilateral institutions in addressing the financial challenges resulting from global economic crises.

He emphasised the need to explore innovative and facilitative financing solutions that are more suitable for the current stage, considering the intense pressures on the budgets of various countries to provide essential needs for their citizens in the face of rising prices and the difficulty of accessing international markets.

The Egyptian Minister of Finance stated that his country seeks to deepen cooperation with partners in Asian countries to attract more investors to Egypt, which possesses promising economic opportunities and competitive advantages, qualifying it to become a global hub for production and re-export.
Source: Emirates News Agency

DUBAI: The Dubai Financial Services Authority (DFSA) announced exceptional growth in 2023, with a record-breaking 117 firms licenced and registered, marking a 25 percent increase from the previous year. The growth in licencing was witnessed in various segments of the financial services sector.

The DFSA noted a remarkable increase in Asset Managers and Hedge Fund Managers establishing presence in the DIFC, with the latter registering 125 percent year-on-year growth. Furthermore, as of November 2023 Nasdaq Dubai, the DIFC’s exchange, holds the world’s largest listed ESG sukuk market valued at $27bn – this includes more than 60 percent of US-denominated ESG sukuk. Nasdaq Dubai continues to be the world’s second-largest venue for listed sukuk market.

Fadel Al Ali, Chairman of the DFSA, said, ‘The remarkable achievements of 2023 are a testament to our dedication to not only regulate the present but to also shape and govern the future. Our aim is to become a global benchmark as an international regulatory body, d
elivering excellence in tandem with the government’s strategic vision – including Dubai Economic Agenda D33.’

As well as growth in licenced firms, this period also saw an increase in relationship-building for the DFSA who made significant strides in strengthening ties with local and international regulatory bodies and partners. The DFSA signed a Memorandum of Understanding with the UAE’s Financial Intelligence Unit, enhancing collaboration on anti-money laundering and combating the financing of terrorism. The DFSA also formed a partnership with the Hong Kong Monetary Authority aimed at exploring how to further develop policy and regulatory responses to support and enable climate finance in the Middle East and Asia. The flagship initiative of this partnership is the upcoming Joint Climate Finance Conference, set to take place in Hong Kong this autumn.

Underscoring its commitment to accelerating the development of sustainable capital markets in the DIFC, the DFSA announced, during COP28’s Finance Day, a regul
atory fee waiver for issuers wishing to list sustainability-related debt securities in the DIFC throughout 2024.

‘As we set our sights higher for 2024, we aim to stand firm on our four strategic pillars – Delivery, Engagement, Innovation, and Sustainability. These pillars are the foundation of our pursuit to not merely meet standards but to set them, ensuring stability, innovation, and progress in the financial landscape,’ Al Ali concluded.

Source: Emirates News Agency

ABU DHABI: The UMEX and SimTEX 2024, taking place at the Abu Dhabi National Exhibition Centre (ADNEC), featured pioneering technological innovations in unmanned systems, simulation, training, artificial intelligence and robotics, with several launches of new products from Emirati companies.

Leading national companies and entities, as well as students from across the United Arab Emirates (UAE) universities specialising in artificial intelligence and unmanned systems, were able to unveil their latest global innovations. Over 214 companies, including 72 Emirati companies, participated, presenting their advanced technological products.

During the event, EDGE Group, the strategic partner for UMEX and SimTEX 2024, launched innovative new products offering reliability and technological advancement in various fields. These products underscore the EDGE Group’s commitment to developing capabilities that significantly strengthen the sovereign defence ecosystem.

The GY300, an unmanned aircraft designed for short takeo
ff and landing on rough terrain, is a low-maintenance and cost-effective drone that is capable of carrying 300kg. In the field of land systems the Bunker Pro, a high-performance unmanned ground vehicle was launched, which performs fully autonomous operations such as remote surveillance, exploration, convoying, target identification, and outdoor patrols.

EDGE Group’s M-BUGGY, a wheeled, multi-terrain unmanned ground vehicle (UGV), utilises the latest imaging and sensor technology to provide actionable data. Attendees at UMEX and SimTEX were able to see the M-BUGGY in action as part of the live demonstrations for land systems at the ADNEC Grandstand Area, a new feature at this year’s event.

Khalifa University of Science and Technology announced 13 innovations in advanced technologies for the digital world. These included drones for fire extinguishing, a set of heterogeneous robotic systems, a unique shield for chip identification and installation and a security system based on a programmable logic gate array.
The university also showcased a self-driving car, drones for cloud seeding to enhance rainfall, and a smart system for detecting hazardous materials.

Eneron, a subsidiary of UAE-based Kenstongi and a pioneer in tactical mobility, showcased the advanced electric Magnus in its trial version. This reconnaissance vehicle, designed for defensive operations, is a testament to Eneron’s focus on autonomous technology, artificial intelligence, and sustainable technologies. The vehicle features a front cab structure for enhanced visibility, three-row seating for six passengers, and a spacious rear compartment.

The Emirates Defence Companies Council participated in the sixth edition of UMEX and SimTEX, underscoring its role as a key supporter of the defence and security industry in the UAE. The Council emphasised the importance of a pavilion featuring government institutions and leading companies, including the Ministry of Industry and Advanced Technology, and the Abu Dhabi Department of Economic Development to displa
y the latest innovative defence products supported by AI technologies and autonomous systems.

UMEX and SimTEX 2024 continues to provide a global platform for that facilitates innovation and new business partnerships that will set the future trajectory of the critically important unmanned systems sector.

Source: Emirates News Agency

HONG KONG: Christopher Hui, Secretary for Financial Services and the Treasury in Hong Kong, stated that various measures are currently being taken to enhance liquidity in the Hong Kong stock market.

He added in statement to the media on the sidelines of the Asian Financial Forum, “During the past period, we have implemented the recommendations of the task force aimed at enhancing liquidity in the securities market. Several measures have been implemented, and we will continue to implement some other measures in the future.”

Hui explained that the measures include reducing stamp duty on stock transactions, reviewing the market spread, and reforming the Growth Enterprise Market (GEM). He added, “We will proceed step by step in accordance with the arrangements.”

Responding to a question about the performance of the Hong Kong Stock Exchange, Hui said, “Capital markets are a gauge of the economy as well as the current conditions and future expectations. Therefore, some overall factors, including political geogra
phy and interest rates, will affect the international environment worldwide, including the financial centre in Hong Kong.”

Hui stated, “As a regulatory government agency, our focus is on ensuring the smooth operation of the markets and the absence of any abnormal behaviours or activities. We have seen in the past, amid global uncertainty, that capital markets are operating well.”

Hui mentioned that their country, as an international financial centre, possesses many unique characteristics not found in other financial centres, emphasising, “We are an international financial centre.”

He explained that around 70 banks among the top 100 banks in the world are based in Hong Kong. Additionally, more than half of the world’s largest 20 insurance companies are located in Hong Kong, reflecting the confidence of international financial institutions in the country.

Hui highlighted that the trading volume of exchange-traded funds (ETFs) in Hong Kong has increased by more than 20 percent compared to the average daily t
rading volume before. Derivatives’ volume has also risen by over 5 percent. Therefore, he stated that Hong Kong’s status as a global financial centre remains unchanged, asserting, “Our future prospects will only be towards the better.”

Source: Emirates News Agency