163.4% rise in Japanese restaurants in last decade shows UAE’s growing taste for cosmopolitan cuisine

ABU DHABI, Japanese food has been popular in the UAE ever since Japanese people started living here several decades ago. Although Japanese expatriates remain a small community, the popularity of Japanese cuisine has outgrown the community’s size with its cosmopolitan appeal.

The number of food outlets offering Japanese foods in the UAE has made a quantum leap of 163.4 percent in the past decade, which reveals a multicultural society’s growing taste for cosmopolitan cuisine.

This keen interest of Emiratis and other residents in Japanese food has also played a major role in robust people-to-people relations, as Japan and the UAE are celebrating the 50th anniversary of establishing the diplomatic relations, two Japanese officials tell the Emirates News Agency (WAM).

From Japanese clientele in 70’s to cosmopolitan growth in 2022

“In 2013, about 142 food outlets across the UAE offered Japanese cuisine that increased to 342 in 2022, around 163.4 percent increase,” says Shiro Ohkubo, a Goodwill Ambassador for Japanese Cuisine in the UAE, appointed by the Japanese Government.

He adds that, of these outlets, 65 were exclusive Japanese restaurants in 2013 that jumped to 168 in 2022, a 158.5 percent increase; and other 142 multicuisine outlets offering Japanese foods in 2013 increased 163.4 percent to 374 in 2022.

Ohkubo, who is also the managing director of Abu Dhabi-headquartered Summit Trading Company LLC, the largest Japanese food dealer in the Arabian Gulf established in 1977, explains that the given numbers are based on the client database of his company that deals with most of the Japanese food outlets in the UAE.

Initially in the late 1970s, the managing director says, the staff at Japanese oil companies in Abu Dhabi were the clientele that expanded over the years to mushrooming multicuisine Asian restaurants, exclusive Japanese restaurants, premium hotels, hypermarkets, supermarkets, catering companies and airlines.

Ohkubo says Japanese expatriates are the primary customers, but Emiratis, other Arab nationals, westerners, and Indians, Filipinos, and other Asians also love Japanese cuisine. Most of these eateries are premium outlets, therefore, the customers are high-net worth individuals, he adds.

50 times Emirati visitor at Japanese restaurant at Expo

Tokyo’s top diplomat in the UAE tells WAM the growth of Japanese food industry in the UAE is nothing to do with the number of Japanese expatriates living in the UAE, currently estimated at 4300 that has been stable for many years.

Akio Isomata, the Japanese Ambassador to the UAE, adds that he witnessed first-hand the role of Japanese food in connecting Emiratis and Japanese peoples, soon after taking charge as the envoy, during the Expo 2020 Dubai held late 2021 and early 2022.

“When you serve food to a friend you make yourself and that friend happy. Two people get connected through food. I witnessed it at the conveyor-belt sushi chain Sushiro [a type of sushi restaurant] that was annexed to the Japan pavilion at Expo,” he reminisces.

Many top Emirati officials visited the restaurant several times and one of them told him she had offered dinner to her guests there. “When another senior Emirati official told me he visited the restaurant 50 times with his family, I checked whether he meant 15 but he clarified that it was 50!” This experience prompts him to say, “Food directly catches people’s hearts and minds.”

Japanese ‘food’ footprint after oil and automobile industries

There is a strong Japanese footprint in many sectors in the UAE, especially in oil and automobile industries, the envoy says. Likewise, he believes, during the 50 years of Japan-UAE relations, food is another industry where Japanese have made an impact in the UAE.

“It is not a flashy industry. But it caters to the basic needs of the people. It is very important as it gives a lot of joy to everybody. So, I think it is kind of very strong soft power that is evolving and developing itself in this country,” Isomata explains.

Therefore, he believes that increased popularity of Japanese food in the UAE has been a major development during the past fifty year-long Japan-UAE relations as it has further strengthened the ties between two peoples.

The top diplomat says the popularity of Japanese food in the UAE prompted the Japanese Government to appoint Goodwill Ambassador for Japanese Cuisine in the UAE that has helped its further promotion. The Japanese Ministry of Agriculture, Forestry and Fisheries appoints these ambassadors on the recommendation of the Japanese Embassies and Consulates in the respective countries.

Ohkubo is the first such good will ambassador in the Middle East and Africa region, appointed in 2019, and there is one more in Dubai. They attend various events to talk about Japanese cuisine and involve in all possible promotional efforts.

Cultural heritage

Ambassador Isomata notes that UNESCO has inscribed a Japanese social practice related to food on the Representative List of the Intangible Cultural Heritage of Humanity in 2013.

Washoku is a social practice based on a set of skills, knowledge, practice and traditions related to the production, processing, preparation and consumption of food. It is associated with an essential spirit of respect for nature that is closely related to the sustainable use of natural resources.

“It’s not just food. It reflects aesthetics of Japanese people. Japanese cuisine can change from one season to another and uses different ingredients according to the season. So, it’s a kind of holistic culture that is very close to the nature. We benefit from nature, so the respect to the nature is shown in Japanese food,” he explains.

Source: Emirates News Agency

ADNOC Distribution announces record earnings for first nine months of 2022

ABU DHABI, ADNOC Distribution on Friday today reported that its EBITDA rose by 26% year-on-year to AED2.86 billion, and net profit up by 39% year-on-year to AED2.33 billion for the first nine months of 2022. For the third quarter, EBITDA rose by 18% year-on-year to AED868 million, while net profit increased by 45% year-on-year to AED767 million.

With the record nine-month results, ADNOC Distribution’s growth momentum is expected to continue through the fourth quarter and beyond, on the back of volumes growth, domestic and international expansion and higher non-fuel retail contribution.

The company saw a year-on-year rise of 7% in total fuel volumes over the first nine months of 2022, on the back of the UAE’s continued economic growth, increased traffic at service stations, and substantial increases in corporate fuel volumes, which rose 27% year-on-year over this period.

In addition, ADNOC Distribution has continued to see incremental volumes from its Dubai stations, with a total of 37 sites now in operation in the emirate and a total network of 481 stations across the UAE as of 30 September 2022.

The company’s non-fuel business continued to show strong growth over the first nine months of 2022, with an 18% increase in non-fuel transactions. Non-fuel gross profit also increased by 9%, driven by customer-centric initiatives, higher traffic at stations and higher F&B sales, alongside attractive promotions via the ADNOC Rewards program.

During the first nine months of 2022, ADNOC Distribution continued to deliver modern, digitally-enabled fuel retail convenience to customers and communities across the UAE, with the opening of 21 new stations in the country, nine of which opened in the third quarter, including a state-of-the-art flagship location on Shaikh Zayed Road, in the heart of Dubai.

C-store sales continued to gain momentum during the third quarter due to the company’s commitment to its non-fuel retail strategy and increasing popularity of its specialty-grade coffee.

The first nine months of the year also saw ADNOC Distribution further advance its international expansion by partnering with TotalEnergies, announcing a milestone transaction to acquire a 50% stake in TotalEnergies Marketing Egypt, one of the top four fuel retail operators in Egypt. The acquisition aligns with the company’s vision to establish ADNOC Distribution as a regional fuel distribution leader. The acquisition is expected to be completed in Q1 2023 pending satisfaction of certain conditions, including customary regulatory approvals.

CEO of ADNOC Distribution Bader Saeed Al Lamki said, “I’m pleased with our strong financial and operational performance. We have continued to demonstrate our growth trajectory and maintained a robust cash generation with a strong balance sheet.

Meanwhile, the opening of our flagship service station in Dubai, has not only showcased our cutting-edge digital customer experience, but also reiterated our commitment to long-term sustainable growth and generating attractive shareholder returns.”

The past quarter has seen ADNOC Distribution engage in several initiatives aimed at both futureproofing the business and moving the company closer to achieving its long-term sustainable business ambition.

ADNOC Distribution’s state-of-the-art flagship service station is a showcase of the company’s digital-led customer experience which includes smart cameras and digital screens at the pump – to deliver a personalized, digitally immersive, and seamless customer journey.

The station also offers impressive sustainability credentials, being partially powered by renewable sources. It also includes the first double-storey ADNOC Oasis convenience store.

ADNOC Distribution’s 2022 dividend policy is set at a minimum of AED2.57 billion, offering an annual dividend yield of 4.6% (at a share price of 4.47 as of 10 November 2022).

The company paid a dividend of AED1.285 billion for the first six-month of 2022 (10.285 fils per share) in October, and expects to pay the second six-month dividend of 2022 (10.285 fils per share) in April 2023, subject to the discretion of the board and shareholders’ approval. The company’s dividend policy for the years thereafter sets a dividend equal to at least 75% of distributable profits.

Source: Emirates News Agency

Hamdan bin Mohammed issues Resolution forming Board of Directors of Erada Centre

DUBAI, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has issued Executive Council Resolution No. (66) of 2022 forming the Board of Directors of the Erada Centre for Treatment and Rehab in Dubai.

The new board is chaired by Abdulla Mohamed Falaknaz while the Director General of the Dubai Police Anti-Narcotics Department will serve as its deputy chairman.

Members of the board include the CEO of Rashid Hospital at the Dubai Academic Health Corporation; Abdullah Obeid; Sameera Alrais; Khawla Belhoul; representatives from the Community Development Authority in Dubai and Public Prosecution Dubai; and the CEO of the Center.

The Resolution is effective from its date of issuance and will be published in the Official Gazette.

Source: Emirates News Agency

Inaugural ‘Prototypes for Humanity’ begins 16 November showcasing innovation projects of university students worldwide

DUBAI, ‘Prototypes for Humanity’, a new event that showcases impact innovation projects developed by university students from across the world, is set to debut from 16th-17th November, 2022, under the patronage of H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council.

Held in partnership with Dubai International Financial Centre (DIFC) and supported by Dubai Culture and A.R.M. Holding, ‘Prototypes for Humanity’ builds on the success of the Global Grad Show, an annual exhibition of innovative university design projects held since 2015. The new event focuses on catalysing action and mobilising organisations whose infrastructure, reach, and technical know-how can be leveraged to accelerate the implementation of impact innovation projects. Impact innovation represents collaborative projects that harness emerging technologies to create a measurable impact in solving critical problems facing humanity.

Groundbreaking solutions for global problems

Engaging university talent across science, technology and creative disciplines from over 100 countries, ‘Prototypes for Humanity’ resonates with Dubai’s entrepreneurial spirit and the agenda for COP28, to be hosted by the UAE at the end of 2023. The inaugural event brings together trailblazing ideas, projects, and technologies, addressing critical challenges affecting humanity. With a wealth of expertise from cutting-edge academic projects, the event aims to raise awareness of global problems and shine the spotlight on solutions and actions that have the power to solve them.

Built around a gathering of exceptional academic talent, ‘Prototypes for Humanity’ celebrates ideas for positive social and environmental impact. The event launches as the most diverse assembly of impact-driven innovations, with a mission to catalyse change and reinforce the role of academia-led alliances in accelerating change. Tapping into the power of multi-stakeholder partnerships, the new event brings together academic, intellectual property, private and public sector and venture-building experts to build positive-sum impact solutions.

‘Prototypes for Humanity’ will introduce 100 IP-backed, best-in-class impact innovation projects by university students proposing solutions for a better world. The selected projects illustrate the numerous and often unknown ramifications of global challenges and demonstrate how diverse problem-solving perspectives are not only complementary but necessary.

International participation

The projects shortlisted for the event were chosen from applications from over 450 universities across over 100 countries, ranging from leading globally renowned institutions like Stanford University, Massachusetts Institute of Technology (MIT), University of Oxford, University of Cambridge, ETH Zurich, Tsinghua University, and National University of Singapore to rising universities in the Global South. The submissions included a record number of universities from 25 African nations, and large emerging economies such as India, Brazil, Indonesia, Mexico, and Turkey.

‘Prototypes for Humanity’ features unique projects from Oxford Medical School, MIT’s aerospace engineering programme and Harvard’s John F. Kennedy School of Government, apart from research hubs from the Global South, including the University of Ibadan in Nigeria, University of Mexico Centro, Bakrie University in Indonesia, Cadi Ayyad University in Morocco, and the State University of Azerbaijan. As part of the ‘Prototypes for Humanity Awards’, prizes worth US$100,000 will be offered to the best projects in the fields of Environment, Health, Society, and Corporate Solutions.

This year’s event will include round-table meetings, debates, and workshops to map obstacles and outline incentives and explore mechanisms that can enable high-potential innovation to migrate from university labs to the real world. The initiative will also engage the venture capital community, as well as private and institutional investors, including A.R.M. Holding, who launched a US$2.7 million fund in 2019 to support social impact innovations.

Partnership with DIFC

The partnership with DIFC is vital to the event’s ability to achieve its mission. Beyond its rapid growth as a hub for the global financial sector, DIFC is home to more than 60 per cent of all technology and innovation companies in the GCC, epitomising the ability to transform entrepreneurial energy and foresight into action. The hub’s sustainable development efforts and role in shaping the future economy – across funding, commercial and programming strategies – further strengthens its alignment with ‘Prototypes for Humanity’s’ mission.

Commenting on the vision for the partnership, Arif Amiri, CEO of DIFC Authority, said, “DIFC is committed to the development of the new economy, driving the future of finance and leading on initiatives that nurture innovation and sustainability. As the region’s foremost hub for entrepreneurship, partnering with Prototypes for Humanity is a further step towards enabling global talent to develop impactful innovation from Dubai. DIFC is actively committed to ESG innovation and ESG-driven growth. We understand that purposeful innovation often happens at the intersection of industries and through partnerships. We are a strong partner in making Prototypes for Humanity a reality, as we believe in the potential of academic research to initiate change.”

During the exhibition, open to the public on 16th and 17th November, the 100 innovation projects showcased at the event will highlight key areas of interest for international students including energy and emergency relief, food production and access to healthcare.

A new model for addressing challenges

Tadeu Baldani Caravieri, Director of ‘Prototypes for Humanity’, said, “When considering significant societal problems, like pollution or illiteracy, we see how they are systemic issues, but with very tangible manifestation all around us. By looking at the solutions proposed by researchers from around the world, we can imagine a model that addresses these challenges in the reverse order, from the micro to the macro. Academia can clearly resolve most of the technical, concrete facets of pollution and illiteracy, for example. What we want to investigate through the ‘Prototypes for Humanity’ programme is how to mobilise a consortium of organisations that can onboard these innovations and tackle these problems at a macro level, on a global scale, together.”

This year’s applications reflect a shift in thinking about impact: from innovation for an uncertain future to urgent, more concrete, and quickly-deployable solutions anchored in viability. Furthermore, the entries demonstrate that academic research is not happening in a vacuum but rather within a context of collaboration and opportunity, with clear influences from the start-up culture that makes university projects noticeably grounded in the real world. Additionally, concepts directed at off-grid and self-reliant living illustrate a desire to explore alternate solutions beyond the norm.

Source: Emirates News Agency

Dubai Holding SkyRun 2022 takes place on 12 November

DUBAI, Final preparations are underway for the hundreds of participants signed up to take on one of the most anticipated events in the Dubai fitness calendar – the Dubai Holding SkyRun 2022.

With just two days to go until the start of the 17th edition of Dubai’s only official stairclimbing race, excitement and nerves can be found in equal measure among the runners taking part this coming Saturday.

Held in partnership with the International Skyrunning Federation (ISF), Dubai Sports Council, Al Jalila Foundation and Jumeirah Emirates Towers – where the event will be hosted – the Dubai Holding SkyRun has become a popular fixture of the annual month-long Dubai Fitness Challenge. With three categories: Elite, Open and Teams (of four), amateur runners can take on the 52 floors and 1334 steps alongside the professionals all in aid of Al Jalila Foundation’s Majlis Al Amal.

This year, Dubai Holding SkyRun will also play host to the first ever ISF Stairclimbing World Championships, which will see 21 professional stairclimbing athletes racing in the Elite category.

Cindy Reid is one of the female Elite athletes gearing up for the challenge – and she has been busy putting in the workout hours ahead of the endurance event.

President of the International Skyrunning Federation, Marino Giacometti said: “It is with great pleasure that we are looking forward to the first ISF Stairclimbing World Championships, hosted at the Dubai Holding SkyRun on Saturday. After a two-year halt due to the COVID-19 pandemic, our top-ranked Vertical World Circuit athletes, can’t wait to get on the stairs and push for, on this first occasion, World Champion titles and medals. Of course, the Championships are open, so one never knows if a surprise win is in store. We wish all participants an exciting event!”

Dubai Holding will award the top three male and female runners from the Elite and Open categories as well as the top three teams from the Team category in this year’s SkyRun.

The Group will also recognise the participation of people of determination in the race. The top three female and male winners from the Elite category as well as the fastest team within the Teams’ category will receive cash prizes from Dubai Holding.

Source: Emirates News Agency

10th Dubai Precious Metals Conference to explore impact of trade, tech and regulation on sector

DUBAI, Dubai Multi Commodities Centre (DMCC) has announced that the 10th edition of the annual Dubai Precious Metals Conference (DPMC) will be held on 22nd November, 2022, at Atlantis, The Palm, Dubai.

Over the last decade, DPMC has established itself as one of the most important and highly anticipated events on the international precious metals, gems, and jewellery industry calendar.

This year’s edition will bring together a plethora of speakers and participants from industry, government, regulators, policymakers, traders, exchanges, academia and other stakeholders from across the globe to discuss the most critical challenges and opportunities facing the precious metals industry today.

From the impact of technology, geopolitics and international trade agreements, through to the increasing focus on environmental, social and governance (ESG) issues, DPMC 2022 will explore how the gold and precious metals industry can best position itself to capitalise on emerging opportunities.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “This year’s Dubai Precious Metals Conference is taking place against a backdrop of a shifting trade landscape and rising interest rates which are having a profound impact on precious metals markets. The UAE is playing a critical role for global industry through reform and mainstreaming supply lines, with the recent adoption of the UAE Good Delivery Standard and support for the artisanal gold mining sector – particularly in Africa. As we mark the 10th edition of the Dubai Precious Metals Conference, DMCC is looking forward to welcoming the world’s leading experts from around the world to Dubai, to share ideas and discuss ways to make global precious metals markets more transparent, efficient and liquid.”

The DPMC 2022 speakers include Abdullah bin Touq Al Marri, Minister of Economy; Ahmed Bin Sulayem, Executive Chairman and CEO, DMCC; David Tait, Chief Executive Officer, World Gold Council; Arvind Sahay, Chairman, India Gold Policy Centre at IIM Ahmedabad; Sabyasachi Ray, Executive Director, The Gem & Jewellery Export Promotion Council, India; Rhona O’Connell, Head of Market Analysis EMEA & Asia at StoneX Group Inc; Huang Xia, UN Secretary-General’s Special Envoy, Great Lakes Region of Africa; Chandraprakash D Siroya, Vice Chairman – Dubai Gold & Jewellery Group; Louis Maréchal, OECD, Sector lead, Minerals & Extractives; Safeya Al Safi, Director of Anti-Money Laundering Department, UAE Ministry of Economy; Jeffrey Rhodes, Founder & Managing Consultant, Rhodes Precious Metals Consultancy DMCC; Güzhan Gülay, Executive Vice President, Borsa Istanbul; and Yang Lu, Director, Metals Products, CME Group.

Source: Emirates News Agency