Category: Industry

DUBAI, The Global Manufacturing and Industrialisation Summit (GMIS) today announced that it will host The Green Chain Conference, a multi-stakeholder forum to explore the role of renewable energy solutions, socially responsible investments, and policy frameworks to accelerate the transition to a net-zero future.

Scheduled to be held on November 24, 2021, alongside the fourth edition of the Global Manufacturing and Industrialisation Summit (#GMIS2021), the conference will draw on over 40 global leaders from governments and the energy industry to promote public-private partnerships and highlight the importance of adopting Fourth Industrial Revolution technologies across the energy sector to advance the global green agenda.

Driven by the need to reduce carbon emissions and create a greener planet for all, renewable energy generation, supply and consumption are on top of the conference agenda. The conference will hold panel discussions on topics such as the importance of policy interventions and public-private collaborations to develop green hydrogen value chains, the role of Artificial Intelligence-driven smart grids in tackling energy shortages, ways to establish green hydrogen export markets, as well as regulatory and governance challenges in the carbon credit market.

The conference will also organise dedicated sessions on developing a renewable energy derivatives market, facilitating energy transfer between developing and developed economies using Blockchain, improving access to energy finance and affordable technology solutions, and addressing challenges related to hydrogen storage and distribution.

Senior policymakers and industry experts confirmed to speak at The Green Chain Conference include, Caspar Herzberg, Chief Revenue Officer of AVEA, Dr. Gerhard Thonhauser, Chairman of TDE Group, Ana Haurie, Co-founder and CEO of Respira International, Carsten Stöecker, Founder of Spherity GmbH, James Veale, President and Co-founder of GreenToken by SAP, Khalid Almuhaidib, Acting Senior Vice President of Hydrogen Business at ADNOC, Mauricio Vargas, CEO of Bayotech, and Martin Nagell, Advisor, Office of the CEO at Masdar.

Badr Al-Olama, Head of the GMIS Organising Committee, said: “Rapid adoption of clean and renewable energy is transforming the global energy landscape, but we need to do more to achieve the climate goals and ensure universal access to affordable and sustainable energy sources. The Green Chain Conference presents an opportunity to build a transparent and equitable energy future for all, with a particular focus on decarbonising the manufacturing sector using disruptive technologies. I’m delighted to welcome global leaders and energy industry experts to the UAE to foster greater collaboration and accelerate the pace of innovation in the energy sector.”

Other speakers confirmed to speak at the conference include Maria Strandesen, Head of Future Fuels at Maersk, Dr. Andrea Lovato, Executive Vice President and Head of Renewable Development and Green Hydrogen at ACWA Power, Jonathan Carpenter, Vice President of New Energy Services at Petrofac, Dr. Malcom Cook, Vice President and Head of Business Development at ThyssenKrupp, Dr. Carsten Borchers, Vice President of Strategy Energy Networks at E.ON SE, and Pierre Samaties, Senior Advisor at Roland Berger.

The conference will be held at EXPO’s Dubai Exhibition Centre, as part of the six-day GMIS Week, that will feature over 30 exhibitors to showcase UAE based technology and manufacturing capabilities, and bring together over 125 global leaders across three conferences, including the #GMIS2021 Summit on November 22 and 23 which will bring together Heads of State, Ministers, and Chairs and CEOs of the world’s largest organisations to engage in discussions and debates that will shape the future of technology and manufacturing, followed by the Global Good Conference, a dedicated conference led by the Mohammed bin Rashid Initiative for Global Prosperity, on November 24, as well as dedicated country focused side-events led by the United Kingdom, Italy and Australia on November 24 and 25.

Source: Emirates News Agency

DUBAI, Within their efforts to develop cooperation and coordination with the foreign business groups in the country, Dubai Customs participated in a panel organised by the Italian Business Council on the future trends of exports and imports in the GCC.

Rashid Al Muhairi, Head of Customs Procedures Section at the Tariff and Origin Department, Dubai Customs delivered a presentation on the development of Dubai trade with Italy, which grew 81.7 percent in ten years to AED26.68 billion in 2020 from AED14.68 billion in 2010.

In the first half of 2021, trade with Italy grew 68.6 percent to AED15.84 billion from AED9.4 billion in the corresponding period in 2020.

Imports touched AED11.33 billion, exports recorded AED3.65 billion and re-exports totaled AED862 million.

Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion, and customs warehouse trade stood at AED46.683 million.

Airborne trade accounted for AED9.12 billion. Sea trade reached AED4.99 billion, while land trade weighed in at AED1.72 billion.

The initiatives that Dubai Customs developed in e-commerce were presented in the session. The Government Department has recently launched its Cross Border e-Commerce project.

The innovative platform utilises block chain technology to integrate and automate operations between Customs, Free Zones, logistics, and courier companies. It is the first of its kind in the region, and it aims to help the emirate become a global hub for e-commerce, and encourage e-commerce companies set their businesses in Dubai.

A number of specialists and experts in industry, export, financing exports and logistic services took part in the discussion panel.

Source: Emirates News Agency

Dubai, Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has won the “Outstanding Innovation in Trade Finance” Award during the Global Finance’s Digital Banks and Innovators Awards ceremony held recently at Ritz Carlton Hotel – DIFC.

The award was received by Dr. Bernd van Linder, Chief Executive Officer, CBD and Abdul Rahim Al Nimer, General Manager, Corporate Banking.

The Global Finance Innovators awards recognize and celebrate the world’s preeminent Financial Services Organizations that are pioneering unrivalled standards and capabilities in their respective fields. The awards programs are globally acclaimed and co-judged by leading consultancies and reporters who are subject matter experts in Retail Banking, Private Banking, Transaction Banking, Investment Banking, Corporate Banking, Asset Management and Insurance, to ensure full transparency and an impartial assessment.

Upon receiving the award, Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, commented: “We are honored that our innovative products and solutions in trade finance have been recognized by reputable industry experts. CBD has been instrumental in driving digital transformation and utilizing new technology to meet the needs of our clients, helping them enhance efficiency and improve processes. As we continue on our journey towards excellence, awards such as these will motivate us to continue enhancing our services to our customers and providing them with more innovative solutions.”

Ali Imran, Head of Transaction Banking & Wholesale Digital Services at CBD, said: “Innovative financial solutions are critical for corporates nowadays, as they leverage the most advanced banking technologies to provide them convenient and seamless banking experience, enabling them to easily execute banking transaction from the comfort of their offices. We will continue to ride the wave of disruption by providing innovative payment solutions as part of our ‘Default Digital’ strategy”.

CBD’s Trade Finance offering, the first of its kind in Middle East, provides both Buyer and Seller Led Supply Chain Finance solutions through a single portal for corporates. To ensure compliance with local data regulations, the solution has been deployed using Microsoft Azure’s UAE cloud. The platform is also capable of handling clients and their counterparts located anywhere across the globe as the KYC metrics will be customized according to respective country’s regulation requirements.

Source: Emirates News Agency

DUBAI, The Emirates Group today announced its half-year results for its 2021/2022 financial year.

Group revenue was AED24.7 billion (US$6.7 billion) for the first six months of this year, up 81 percent from AED13.7 billion ($3.7 billion) during the same period last year.

This strong revenue recovery was underpinned by the easing of travel restrictions worldwide and the corresponding increase in demand for air transport as countries progressed their COVID-19 vaccination programmes.

The Group also reported an EBITDA of AED5.6 billion ($1.5 billion), illustrating its strong return to operating profitability.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said, “As we began our 2021-22 financial year, COVID-19 vaccination programmes were being rolled out at unprecedented scale around the world. Across the Group, we saw operations and demand pick up as countries started to ease travel restrictions. This momentum accelerated over the summer and continues to grow steadily into the winter season and beyond.

“Our cargo transport and handling businesses continued to perform strongly, providing the bedrock upon which we were able to quickly reinstate passenger services. While there’s still some way to go before we restore our operations to pre-pandemic levels and return to profitability, we are well on the recovery path with healthy revenue and a solid cash balance at the end of our first half of 2021-22.”

Sheikh Ahmed also thanked the customers for their continued support, as well as all the aviation and travel industry stakeholders and partners for their efforts that have made it possible for international air travel to resume safely and smoothly.

“Our ability to pivot and pull through the toughest period in our history to date, can be attributed to Emirates’ and dnata’s strong brands, high quality products and services, digital and innovation capabilities, and our amazing people. We intend to continue investing in these core areas to take our business into the future, together with the leaner processes and new technology capabilities that we’ve implemented in the past months,” Sheikh Ahmed added.

Source: Emirates News Agency