Anwar Ali

  The Hong Kong Monetary Authority and the Central Bank of the United Arab Emirates have joined forces to strengthen ties and promote financial integration.  The collaboration focuses on three key areas: financial infrastructure, financial market connectivity, and virtual asset regulations. The central banks recognize the potential benefits of closer cooperation and are actively exploring ways to facilitate cross-border trade settlement and enhance market access for UAE companies. One of the primary objectives of this collaboration is to leverage Hong Kong’s robust financial infrastructure platforms to support UAE businesses in accessing Asian and Mainland markets more effectively. By tapping into Hong Kong’s well-established financial ecosystem, UAE companies can benefit from enhanced connectivity and capitalize on the vast opportunities available in the region. The bilateral meeting held in Abu Dhabi brought together prominent banking groups, including HSBC, Standard Charter...

  Dubai, known for its dynamic business environment and strategic location, has once again secured its position as the world’s leading foreign direct investment (FDI) hub. According to the latest data from the 2022 Financial Times ‘fDi Markets’ report,  Dubai has retained its №1 global ranking for attracting Greenfield FDI projects . The emirate’s remarkable achievement is marked by a significant year-on-year growth of 89.5% in total announced FDI projects in 2022. Furthermore, total FDI capital witnessed a substantial surge of 80.3% over the same period. These impressive figures further solidify Dubai’s status as one of the top three global cities. This outstanding accomplishment aligns perfectly with the goals set forth in the Dubai Economic Agenda D33, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agenda aims to position Dubai as a leading global city across various economic sectors. Duba...

  Dr. Sultan Al Jaber , a prominent figure in sustainable development and clean energy, has assumed the prestigious position of President for the forthcoming UN Climate Summit. His appointment comes at a critical time when urgent action is needed to combat the escalating climate crisis. With his extensive expertise and leadership skills, Dr. Al Jaber is well-positioned to drive global efforts and mobilize collective action against climate change. As the head of the UN Climate Summit, Dr. Al Jaber will be responsible for spearheading discussions, fostering collaboration, and encouraging nations to set ambitious climate targets. His visionary approach emphasizes the importance of sustainable practices, innovation, and the transition to clean energy sources. Under his guidance, the summit aims to achieve tangible outcomes that will contribute to a sustainable and resilient future for all. Dr. Al Jaber’s appointment brings renewed hope for progress in the fight against climate change. ...

  Dubai Municipality is leading the charge in digital innovation within the construction sector with the implementation of Building Information Modelling (BIM) and online services. This transformative move is set to revolutionize the building permit experience and pave the way for a more efficient, transparent, and sustainable construction industry in Dubai. The integration of BIM, a cutting-edge digital technology that offers a comprehensive representation of building characteristics, marks a significant milestone in Dubai Municipality’s pursuit of advanced construction practices . By leveraging BIM, stakeholders in the construction industry can benefit from a more accurate and holistic assessment of their projects, ensuring compliance with regulations and standards from the outset. This technology-driven approach enhances the quality and precision of construction processes, resulting in improved project outcomes and increased confidence among investors, contractors, and developer...

  Japan and the United Arab Emirates (UAE) have announced a landmark agreement that solidifies their defense ties and opens the door for extensive collaboration in the field of defense equipment and technology . The deal, approved by both nations, signifies a strategic partnership aimed at enhancing mutual capabilities and fostering innovation. Under the agreement,  Japan and the UAE  will engage in joint research, development, and production of defense equipment. This collaboration will enable the sharing of technological expertise and advancements, paving the way for the creation of cutting-edge defense systems. The deal also facilitates the transfer of defense technology, which will further strengthen the capabilities of both nations in addressing evolving security challenges. The agreement is a testament to the growing bilateral relationship between Japan and the UAE, with defense cooperation serving as a key pillar. By combining their respective strengths and resourc...

  In a remarkable feat,  Dubai has shattered its tourist records once again , marking a significant milestone in the emirate’s recovery from the impact of the pandemic. According to the Department of Economy and Tourism of Dubai, the first quarter of 2023 saw a staggering 4.67 million foreign tourists spending at least one night in Dubai hotels. This figure represents a remarkable 17% increase compared to the same period in 2022, when 3.97 million visitors explored the city. The substantial surge in international tourist numbers during this period highlights Dubai’s prominence as a leading destination driving the revival of the global tourism sector. Crown Prince of Dubai, Hamdan bin Mohammed bin Rashid Al Maktoum, affirmed the city’s status as a key player in the sector’s recovery. He emphasized the significance of Dubai’s thriving tourism industry in bolstering the emirate’s economy and its role as a vital bridge connecting markets, cultures, and regions. The recent unveilin...