Telco regulators in important meeting

DUBAI – UAE will host the 15th Arab Regulators Network (AREGNET) meeting in 2017, it was announced at the end of the 14th AREGNET meeting, held in Amman, Jordan.

Established in 2003, AREGNET members include all telecommunication regulators in the Arab World. They aim to establish cooperation, promote exchange of opinions, and prepare policies and procedures to harmonize the region’s organizational practices and achieve integrated services and sustainable development goals within the sector.

The Telecommunications Regulatory Authority (TRA) has concluded its participation at the event which yearly gathers leading telecommunication and information technology experts and regulators from the Arab World to exchange knowledge and experiences, discuss ways to promote cooperation, and ensure an investment-friendly environment in the Arab market.

Hamad Obaid Al Mansoori, TRA’s Director General, headed the delegates who also comprised Eng. Nasser Bin Hammad, Director International Affairs, and Hasan Al Ahbabi, Regulatory Economist. During the meeting, which tackled various subjects such as the Internet of Things (IoT), a closed panel discussion attended by heads of Telecommunication Regulators, addressed various key issues such as AREGNET’s vision and programs in the next five years; strategic techniques to promote frameworks and organizational policies formed according to the highest global standards; future plans and programs to enhance the telecommunication and information technology sector; and knowledge-based societies in support of sustainable development goals.

The attendees also discussed various projects involving AREGNET team such as over the top applications (OTT). Additionally, a consultant committee comprising the UAE, Mauritania, and Jordan was formed to review and improve AREGNET’s structure and functions. During the meeting, the UAE presented two papers regarding IoT and its role in the Arab region’s sustainable development objectives.

Prior to the formal meeting, a specialized workshop was held to provide international experts with a platform to discuss the future of Arab smart cities and the role of IoT in accelerating the region’s smart transformation through promotion of efficient services and related procedures. According to the recent report issued by McKinsey Global, IoT’s contributions to the global economy will reach USD 11 trillion annually by 2025. MENA region will achieve high growth in the cloud data amid the region’s current large-scale infrastructure and information technology development projects.

"Our participation falls in line with our joint objective to actively take part in global and regional events organized to promote cooperation and coordination, share visions and frameworks, and exchange knowledge and experiences. This is a fundamental step towards promoting digital knowledge and enhancing the Arab World’s information technology sector.

This will bolster the region’s efforts to become globally competitive, promote its telecommunication sector, help accelerate changes in the international market, and support its aggressive national and regional smart transformation initiatives to attain further growth and development," Al Mansouri said.

"The UAE Government puts a high premium on IoT as an essential part of its smart transformation program in its bid to improve its performance, ensure happiness in local society, and promote the interests of its citizens," he added.

Eng. Bin Hammad underscored the UAE’s leading global status in promoting cooperation with regard to IoT. Eng. Nasser Al Marzouqi, UAE representative in the International Telecommunication Union (ITU), is a member ITU-T Study Group 20 responsible for IoT.

According to him, the country’s status reflects its wise leaders’ keenness to actively contribute to and support efforts towards establishing smart governments and cities and placing the UAE on the global map in terms of technological developments. The country also aims to harness the abilities of its citizens to head international committees and occupy high positions in global organizations.

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More US firms vote for Dubai

DUBAI -- Dubai’s ambitious growth plans as well as policy focus on competitiveness and innovation have been explained to US investors and businesses during a series of ‘Doing Business in Dubai’ seminars hosted recently across Orlando, Dallas, Denver and San Francisco, by a delegation led by Dubai Investment Development Agency, Dubai FDI, an agency of the Department of Economic Development, DED.

The delegation, co-ordinated by Dubai FDI and Dubai Exports, the export promotion agency of DED, and supported by the UAE Embassy in Washington, DC and the US-UAE Business Council, included representatives from TECOM, Emirates Group, Dubai South and Dubai Silicon Oasis, DSO.

Fahad Al Gergawi, CEO of Dubai FDI, said that over 450 senior decision-makers from private and government sectors in the US know more about Dubai now as a result of the productive seminars and interactions the delegation had in the four cities during the 14-day mission.

"US businesses were keen to know how Dubai can enable them grow and expand. Representatives from Dubai South, TECOM and Dubai Silicon Oasis were particularly successful in highlighting the opportunities for innovation-driven and knowledge-based economic activity to thrive in Dubai’s free zones," said Al Gergawi.

"There was palpable interest among US businesses in the efficiencies Dubai has added as a hub in regional and global supply chains, particularly in enabling faster movement of trade and people. We are looking forward to this interest translating into business initiatives and partnerships in the near future," added Saed Al Awadi, CEO of Dubai Exports.

In Orlando, the delegation addressed over 100 senior business executives in collaboration with the Central Florida International Trade Office and visited a number of research and development sites as Dubai’s focus on innovation and education dominated the discussions.

The high point of the delegation’s visit to Dallas was a tour of the Alliance Texas, an inland port development and logistics zone with integrated residential, commercial and aviation operation facilities. Dubai South, being a new free zone, was particularly interested in the emphasis on efficiencies and a harmonious work-life balance in the Alliance Texas ecosystem.

"The trade mission to four US cities has succeeded in initiating and facilitating communication between Dubai South and its entrepreneurial, investor and business counterparts in the US. It was encouraging to engage with and learn from the expertise and knowledge of our US partners in a range of areas related to innovation, and research and development," said Mohammad Al Falasi, Director, Business Development at Dubai South.

"Dubai South, an urban city development with a solid business ecosystem, is an unrivalled gateway to the Middle East, North Africa, and Asia, and the time is ideal for collaborations between North American manufacturers and investors, and Dubai South," added Al Falasi.

The delegation held meetings with the State Economic Development Offices, VisitDenver, Denver International Airport and the Mayor’s Office in Denver, in addition to site visits to a number of successful renewable energy projects. The Denver International Airport officials expressed strong interest in welcoming Emirates airline to their city.

"We were very impressed with the collaborative approach from the Dubai delegation. Not only did they use their visit to promote the vast opportunities for investment in Dubai, but they took the time to thoroughly engage with Denver leaders to build relations. It’s these relations that will serve as the foundation for future partnerships between Denver and Dubai," commented Laura L.Jackson, Vice President, Air Service Development, at Denver International Airport.

In San Francisco, the Dubai delegation and Tesla Motors discussed collaboration on enabling the renewable energy pioneer to leverage Dubai’s position as a hub for the Middle East, North Africa and South Asia, MENASA. The delegation also visited SolarCity, a renewable energy integrator, to update them on the scope for renewables in the regional markets, and met with institutions known for excellence in innovation, including Stanford University and Google.

Expressing happiness over the mission and growing trade bilateral trade, Nasir Abbasi, Commercial Attache at the US Consulate in Dubai, said that UAE-US trade crossed US$25.4 billion in 2015, surpassing all other US trade partners in the broader region, including Turkey and India.

"I think the value of the trip was evident on all sides, be it the delegates, entities or individuals with whom they interacted. Our hope is that we can build this momentum, and we stand ready to support," added Saud Al Nowais, the UAE’s Commercial Counselor in the US.

Danny Sebright, President of the US-UAE Business Council, said that the visit by the Dubai delegation highlighted the success of sectors with special interest to US companies looking to expand their businesses abroad. "It’s a testament to organizations like Dubai FDI, which so skillfully promote Dubai’s business-friendly environment and state-of-the-art infrastructure. Indeed, Dubai FDI is a valuable tool for government as well as private sector institutions and the US-UAE Business Council is proud to be a loyal partner."

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6 million...and counting

DUBAI -- The Dubai Gold and Commodities Exchange (DGCX) has crossed 6 million contracts in April 2016, growing 45% over the same period last year whilst maintaining a steady Average Daily Open Interest of 109,487 contracts.

Growth was primarily driven by DGCX’s currency segment, which saw a substantial increase of 43% compared to the same period last year trading 5,740,764 contracts on a Year-to-date (YTD) trading basis.

The G6 currency pair futures saw highs of 122,109 contracts with Euro and British Pound futures leading the way with a growth of 190% and 154% respectively. Among the emerging market currencies, South African Rand futures demonstrated a steady growth of 47% over same period last year. Indian Rupee options also saw brisk trading this year with 96,940 contracts traded, up 220.7% from the same period last year.

The month of April saw the Exchange setting several records especially in relation to recently launched products. Chinese Yuan futures recorded the highest monthly volume with 4,245 contracts worth US$ 212 million while the Indian Rupee Quanto recorded the 2nd highest ever Average Daily Volume (ADV) of 27,071 contracts. Volumes in US Single Stock futures were up by 107% as compared to March 2016.

Spot Gold contract continued it growth trajectory attracting local bullion participants with physical delivery of 5,760 ounces, an increase of 38% when compared to last month, similarly ADV in Gold futures witnessed an increase of 39% year-on-year (YOY).

Gaurang Desai, Chief Executive Officer of DGCX, said: "According to a recent annual survey by the World Federation Exchange, currency and commodity derivatives experienced the largest volume growth in 2015 (up 37% and 26% respectively over 2014).

Our performance so far indicates that last year’s trend is continuing into 2016. This phenomenon represents the tangible use of financial exchanges such as DGCX especially when investors are seeking to hedge and mitigate risks amidst heightened volatility in global markets."

Partnerships On 13th April, DGCX signed MoUs with two of China’s largest banks - the Agricultural Bank of China (ABC)-DIFC and the Industrial and Commercial Bank of China (ICBC). The signing of these pacts paves the way for DGCX to collaborate with both institutions in areas of product development which is a significant milestone as the Exchange continues to grow and develop its Chinese product offering.

Also in the month of April, DGCX together with the Dubai Commodities Clearing Corporation (DCCC) organized a business breakfast briefing for ACTME (The Association of Corporate Treasurers Middle East) which drew attendance from corporate treasurers representing financial and non-financial institutions. The event served as a valuable platform to exchange information and initiate dialogue on the benefits of using financial exchanges such as DGCX to hedge against price fluctuations.

"Following on a strong first quarter, April volumes show that we remain on track with healthy volume growth, increased partnerships with prominent entities, and an effective engagement with a wider group of audience," Gaurang concluded.

3D printing takes off

DUBAI -- Dubai Holding has launched the International Centre for 3D Printing in line with the directives of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, to make Dubai an International destination for 3D printing by 2030.

The project, at Dubai Industrial City, will create a suitable atmosphere and provide the appropriate infrastructure to bring under one roof a network of design and technology suppliers as well as factories. It will include research centres and laboratories for testing materials used in 3D printed products within an integrated environment dedicated to serve construction, medicine, and consumer products sectors. It will also involve the academic sector, which will add innovation and educational value to this initiative through research and development.

The new project aims to build a network of distinguished companies in the 3D printing sector by attracting entrepreneurs and innovators as well as targeting international enterprises locally and globally by offering special laboratories for 3D printing. It will also offer services, professional training, facilities, storage solution, and other logistical support to strengthen this sector.

Dr. Amina Al Rustamani, Group Chief Executive Officer of TECOM Investments, said, "The launch of the Dubai 3D Printing Strategy by H.H. Sheikh Mohammed bin Rashid Al Maktoum comes in line with the vision and strategic directions of the Emirate of Dubai to support innovation and future industry. The world is experiencing significant demand for 3D printing technologies which are set to play an important role in developing basic industries such as real estate."

She added, "We will work on providing a suitable environment for specialized companies and attracting innovative minds by offering the required infrastructure that match the aspirations of the wise leadership. We believe that the new strategy will be a vital element in creating support for Dubai's key role in the area of 3D printing."

Saif Al Aleeli, CEO of Dubai Future Foundation, said, "The establishment of the International Centre for 3D Printing by Dubai Holding will enable us take the first steps towards achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to make Dubai a global centre of 3D printing technology."

The centre focuses on providing all the components in an integrated system to take this technology from the ideas and innovation stage to the design phase, and provide the materials to a promising market within the, construction, medical and consumer product sectors," he added.

Al Aleeli said that the Dubai 3D Printing Strategy launched by H.H. Sheikh Mohammed bin Rashid is particularly relevant to the construction sector considering that the strategy aims to 3D print 25% of buildings in Dubai by 2030. This will create a huge demand in the market and offer large investment opportunities for companies and investors locally, regionally and globally, he added.

Abdullah Belhoul, CEO of Dubai Industrial City, said, "The next phase of the International Centre for 3D Printing is to translate the vision of our wise leadership in the 3D printing domain by providing the latest technology and the best solutions in the industry to meet the requirements of local and international companies in this sector. The centre will offer the advantages of strategic location, advanced infrastructure, developed offices, warehouses, exhibition facilities, not to mention the integrated support system that will enable companies to establish their business. The centre will host more than 700 local and international companies to make Dubai a major hub of 3D printing technology."

Dubai 3D Printing Strategy, which aims to make Dubai a global capital of 3D printing technologies by 2030, will focus on three major sectors: Construction, Medical Products, Consumer Products.

The Dubai 3D Printing Strategy has five main pillars: Infrastructure, Legislative Structure, Funding, Talent and Market Demand.

The next smart police station may be in your neighborhood

Dubai: The the environment-friendly Jebel Ali police station was officially opened on Thursday.

Dubai Police Chief Major General Khamis Mattar Al Mazeina and Major General Khalil Ebrahim Al Mansouri, Assistant to the Dubai Police Chief for Criminal Investigation Affairs, and other police officials officially opened the building, which has been in operation for months.

The new building is fitted with the latest smart technologies, and follows green building standards.

Maj Gen Al Mazeina said moving the station from the old building near Jebel Ali Port to the new one on Shaikh Mohammad Bin Zayed Road was approved after discussions and studies that took the Dubai’s development into consideration.

Dubai will also be getting six such new police stations in the near future. Maj Gen Al Mazeina said two of them will be new stations — in Al Khawaneej and Al Aweer — and the other four will be replacements of existing stations in Bur Dubai, Al Faqa’a, Hatta and Lahbab.

Breaking the glass ceiling

SHARJAH -- In a move to support and empower women, Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), has issued an administrative resolution promoting three women leaders working at the authority.

The promotions are in line with the UAE's national strategy for the empowerment of Emirati women and with Shurooq's strategic vision to boost its human resources and enable outstanding female employees to assume positions of higher leadership.

The directive sees Marwa Obaid Al Shamsi promoted to Al Noor Island Manager, Hessah Sultan promoted to Director of the Department of Public Relations and Corporate Marketing at Shurooq and Reem Al Badran promoted to Director of Shurooq's Protocol and Hospitality.

"Emirati women enjoy the full support and attention of our wise leadership, which spares no effort in providing them with all forms of empowerment. Women are now routinely being given opportunities to reach senior positions and to realize their talents in a variety of top roles, with females now working as ministers, governmental members and high-profile directors," said Sheikha Bodour.

"This stems from the leadership's belief in the importance of the women's role in the development of society and the nation, which comes from ensuring that their career advancement is on an equal footing with their male counterparts. These efforts have awarded the UAE to be ranked first in the world for treating women with respect, according to the global Social Progress Index."

She added, "Since its inception in 2009, Shurooq has given women special importance and created a series of teams with outstanding female staff in keeping with the UAE's approach to empowering women. Our female personnel have accomplished numerous achievements in different sectors and have been a dedicated source for Shurooq's success. Through these new appointments we aim to give our women's team members greater opportunities and to inspire them to lead the company to even greater heights."

Commemorating the trio’s remarkable achievements, Marwan bin Jassim Al Sarkal, CEO of the Sharjah Investment and Development Authority (Shurooq), said, "It pleases me to see how far we’ve grown not just from a business perspective, but from a perspective of empowerment and creating the most inspiring and aspiring female cadres in our workforce.."

He added that their achievements today reflect the depth of their dedication and leadership in taking on responsibilities and challenges which made Shurooq the leading development authority that it is today. Under the leadership of Sheikha Bodour "our objective for all our staff, male or female, is to create a sustainable work environment and solid platform that stems from equality, cooperation, support, leadership and innovation allowing them to create their own success stories through Shurooq."

Prior to her new appointment, Marwa Al Shamsi served as the Deputy Manager of Al Montazah Amusement and Water Park, a tourist destination run by Shurooq. She explained, "The best part from this experience was the level of support, training and attention Shurooq provided me with as part of its overall model to keep their staff involved in all its progresses and development. Shurooq played a big role in building my confidence and character during my 8-year career experience with them, an advantage which I am highly grateful for. I would like to also thank Sheikha Bodour Bint Sultan Al Qasimi for this honorable opportunity and for her symbolic role in creating a successful and empowering environment for women in the workforce."

Marwa concluded, "Shurooq’s diversification in its tourism projects hold a library of knowledge, insights and experience, which I’m certain to learn a lot from. I’m looking forward to my new role as Al Noor Island Manager, which will definitely focus on managing and sustaining the project’s image as one of Sharjah’s leading tourism destination for authentic culture, heritage and natural experience."

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Food, fashion, football: What unites them?

Etihad Airways has signed a deal to become the official airline of some of the world’s top fashion week events as the Abu Dhabi carrier seeks to focus its sponsorship on fashion, food and football.

In a tie-up with the entertainment and sports management company WME | IMG, Etihad will become the official airline of 17 fashion week events around the world including New York, London, Milan, Berlin, Sydney and Mumbai.

Etihad partner airlines Alitalia, Jet Airways, airberlin, Air Serbia, Air Seychelles, Niki and Etihad Regional will also be involved in the deal, ferrying top models, designers, photographers and stylists between events and participating in fashion-focused offers and promotions.

Currency fluctuations, a slowdown in the Chinese economy, and changing global travel patterns are forcing sponsors such as Etihad to focus their sponsorship cash in the areas they believe will generate the biggest returns.

Etihad’s first fashion week endorsement will be at Mercedes-Benz Fashion Week Australia, which runs from May 15 to 20 in Sydney.

Etihad said that the move was part of a new sponsorship strategy in which the airline would put additional focus on “three core lifestyle interests that drive competitive advantage from sponsorship: food, fashion and football".

It said that future sponsorship deals would be aimed at increased collaboration across the Etihad Airways group to bring “brand development opportunities and economies of scale to all partners".

“This is a landmark deal because it goes beyond traditional sponsorship and is a world-first agreement for an airline group," said James Hogan, Etihad Airways’ president and chief ­executive.

The news follows Etihad’s announcement last month that it would tie up with WME | IMG to sponsor its 14 foodie-focused Taste Festivals taking place around the world in 2016, including Taste of London and Taste of Dubai.

Known around the world as the sponsor of Manchester City, Etihad sponsors more than 100 sports and cultural events around the world. The airline has extended its endorsements of football clubs around the world to include ­Major League Soccer in the United States, Melbourne City Football Club and New York City Football Club as well as the UAE’s Al Ain Football Club and Al Ittihad Football Club.

It also sponsors the For­mula One Etihad Airways Abu Dhabi Grand Prix, Abu Dhabi HSBC Golf Championship, Abu Dhabi Tour, Abu Dhabi World Professional Jiu-Jitsu Championship and Mubadala World Tennis Championship.

Etihad also sponsors the GAA Hurling All-Ireland Senior Championship as well as England national teams for men’s, women’s and disability cricket.