ABU DHABI, 22nd March, 2024 (WAM) — The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with General Atomics (GA), a leading US advanced technology solutions company to collaborate on using advanced technologies and materials for nuclear energy supply.

They will also cooperate on prospects that utilise ENEC’s experience in developing new nuclear builds and investments in GA’s’ advanced non-light water reactors, material production and 3D manufacturing capabilities. The MoU was signed on the sidelines of CERAWeek in Houston, USA.

As part of the MoU, ENEC and GA Electromagnetic Systems (GA-EMS) will explore collaboration opportunities covering several projects, including opportunities to utilise GA-EMS’ SiGA® cladding for nuclear reactor applications and Fast Modular Nuclear Reactor designs. Silicon carbide cladding will improve the safety and affordability of existing light water reactors and minimise outage time.

This innovative material will be utilised for the US Department of Energy-funded Fast Modular Reactor (FMR) design and other advanced or Small Modular Reactors (SMRs) that use high temperatures to achieve high efficiency in electricity production.

ENEC, the UAE’s mandated nuclear energy developer, is looking at all growth opportunities available to expand and enhance the nation’s nuclear energy sector.

ENEC is currently assessing several development, investment and partnership proposals across large-scale reactors, SMRs and advanced reactors to generate clean electrons and molecules, such as steam, hydrogen and ammonia, and provide process heat for various industries.

Mohamed Al Hammadi, Managing Director and CEO of ENEC, said, “Having successfully developed the Barakah Nuclear Energy Plant, the largest single source of clean electricity in the UAE, we are now focused on building international partnerships to drive innovation and R&D in new clean energy solutions. The Barakah Plant is a catalyst for a new era of technological advancement and cooperation on a global level to collectively take us closer to our Net Zero targets. We look forward to working with General Atomics to identify areas of potential collaboration to drive progress within the international nuclear energy industry.”

Scott Forney, President of General Atomics Electromagnetic Systems, said, “GA-EMS brings decades of expertise in developing advanced fuels, silicon carbide cladding to enhance fuel rod safety and durability, and Fast Modular Nuclear Reactor designs offering greater efficiency, safety, and economics. We are very excited to be working with ENEC to explore opportunities and leverage these transformational technologies to provide a more safe and secure energy future.”

ENEC has efficiently delivered the four units of the Barakah Plant, making it the first multi-unit operational nuclear plant in the Arab world. The operational teams have brought a unit into commercial operation every year since 2021, demonstrating steady progress and extensive megaproject management expertise.

The Barakah Plant uses four APR-1400 pressurised water reactors capable of each producing up to 1,400 megawatts of clean electricity.

DUBAI, 20th March, 2024 (WAM) — Dubai Holding today announced that it has partnered with leading global lifestyle and leisure hospitality company Ennismore to introduce its iconic Delano brand to the UAE. Opening later this year at the waterfront destination Bluewaters Dubai, Delano Dubai will be a luxurious destination marked by attention to detail, craftsmanship and personalised experiences.

The launch of Delano Dubai forms part of a landmark agreement signed between Dubai Holding and Ennismore in 2023 to introduce a unique luxury lifestyle experience in Dubai, and follows the opening of Banyan Tree Dubai at Bluewaters Dubai late last year.

Amit Kaushal, Group Chief Executive Officer, Dubai Holding, said: “The launch of Delano Dubai underscores our commitment to setting new standards of excellence in luxury hospitality and strengthening Dubai’s position as a leading international tourism hub. Together with the recent opening of Banyan Tree Dubai, we are proud to mark another milestone in the evolution of Bluewaters Dubai as a luxury lifestyle destination. Our collaboration with market leaders like Ennismore and Banyan Group will continue to focus on welcoming new brands to Dubai and further enrich the city’s vibrant hospitality landscape.”

Delano Dubai will feature 251 guestrooms, including 84 suites, some with private pools, exceptional culinary and mixology experiences, an ocean-front swimming pool, and ultimate discretion on a secluded corner of this island retreat. Guests will be able to discover four distinctive food and beverage concepts, including a collaboration with Paris Society for a unique restaurant and pool club, a patisserie, and a Levantine-inspired destination restaurant.

Sharan Pasricha, Founder & Co-CEO, and, Gaurav Bhushan, Co-CEO of Ennismore, said: “When Delano launched in Miami in 1995, it traded traditional, gilded luxury for something far more modern and understated, but equally grand. Delano pioneered the concept of lifestyle hospitality as we know it today, and we are thrilled to be bringing the iconic Delano to the forefront of global hospitality again, with a new home in Dubai – marking a major milestone in the brand’s journey. From its origins in Miami, a bustling social hub, to the new global hub of extraordinary experiences, Dubai, Delano is set to introduce a new level of luxury, discernment and vibrant energy to the city as our debut property in the region. We look forward to sharing more exciting details about Delano Dubai over the coming months.”

In 2024, Ennismore entered into a long-term partnership with Cain International to drive forward the global expansion of the iconic Delano brand and reopen Delano Miami Beach.

DUBAI, 20th March, 2024 (WAM) — Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has successfully supported the international expansion of two Dubai-based businesses that provide innovative electric vehicles (EVs) in new markets.

The chamber’s efforts contributed to the completion of a strategic partnership between ONE MOTO and Global Synergy Trading DWC LLC that capitalises on global growth in demand for sustainable mobility solutions, particularly in the two-wheeled EV sector.

The chamber facilitated the partnership between ONE MOTO, a Dubai-based business specialising in the field of EVs, and Global Synergy Trading, a company from the emirate that operates in international trade, warehousing, logistics, and after-sales support. The partnership resulted in the launch of ONE-MOTO Technologies Private Limited, a new company that will manage joint overseas operations in the two-wheeled EV sector for the Indian market.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, “Dubai International Chamber is keen to highlight emerging opportunities in promising overseas markets for companies operating in the emirate. We are committed to nurturing impactful partnerships that export the expertise of Dubai-based businesses to the world. These efforts help to accelerate economic development and further consolidate Dubai’s position as a leading global gateway for opportunities and growth.”

Adam Ridgway, Founder and CEO of ONE MOTO, said, “Dubai Chambers has been instrumental in the progress of ONE MOTO’s international expansion and has contributed to the success of our partnership with Global Synergy Trading. This strategic step will play an important role in advancing our business activities in key global markets.”

Naveen D. Egbert, CEO of Global Synergy Trading, said, “We would like to thank Dubai International Chamber for their effective role in supporting our partnership with ONE MOTO, which will contribute to providing environmentally friendly zero-emission and cost-effective transportation. Global Energy Trading aims to diversify its business by entering the field of assembly and production in order to contribute towards a clean, green, and healthy environment for future generations.”

Dubai International Chamber has already played a key role in driving the growth of ONE MOTO, with its representative offices in Latin America propelling the company into several markets across the region.

The chamber’s international office in Argentina successfully established a connection between ONE MOTO and Santiago Motors in Chile to broker a nationwide sales deal for the ambitious UAE start-up that will see the Chilean automotive company sell ONE MOTO’s electric vehicles across its national sales network.

Serial entrepreneur Adam Ridgway launched ONE MOTO in Dubai to help decarbonise mobility in both the commercial and personal sectors. The company has gained a foothold in the United Kingdom, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal, and Ethiopia and is now working to grow its sales further afield.

ABU DHABI, 20th March 2024 (WAM) – A survey by the Abu Dhabi Global Market (ADGM), which stands as a testament to the vision and ambition that drive the UAE and the wider region’s economic landscape, indicates a strong growth trajectory in several sectors, with Asset Management poised to take the lead, as 18.56 percent of respondents recognise its significant growth potential.

Following closely are the Fintech and the fields of Digital Assets, Blockchain, and Distributed Ledger Technology (DLT), with 17.08 percent and 16.83 percent of stakeholders banking on their rise, respectively, according to the comprehensive survey conducted among the ADGM community that offers a window into the promising outlook for ADGM in 2024.

These sectors are reinforced by the growing interest in Sustainable Finance and Private Banking and Wealth Management, which are also projected to experience substantial growth. Furthermore, Professional Services are forecast to continue their upward trend, rounding out the sectors set for expansion within the dynamic financial landscape of the IFC.

ADGM’s Unique Position as a Premier IFC

The survey shed light on the unique attributes defining ADGM’s appeal as a business hub. Notably, 21.35 percent of participants acknowledged the robust regulatory environment as a cornerstone of ADGM’s competitive edge. The market’s strategic location was also highlighted by 19.66 percent of the survey pool, underlining ADGM’s role as a strategic gateway for tapping into the MEASA region and beyond.

The multitude of networking opportunities (17.04 percent), the exceptional quality of life (14.98 percent), and the diverse community (14.04 percent) were also recognised as key strengths that contribute to ADGM’s position as an attractive business destination. In addition, the availability of a skilled workforce, acknowledged by 11.24 percent of respondents, emphasises the market’s capacity for attracting and fostering professional talent.

Anticipated Employment Surge in ADGM

A total of 70.81 percent of companies anticipate expanding their workforce in ADGM during 2024, with 29.93 percent expecting significant increases and 40.88 percent planning moderate growth in staffing. This collective optimism underscores Abu Dhabi’s robust economic health and the strong confidence within the business community in the IFC’s conducive business environment.

Business Community Confidence in ADGM

The confidence in ADGM is further reinforced by the readiness of the business community to recommend the IFC to businesses. An impressive 97.08 percent of business leaders express a positive inclination towards endorsing ADGM. Among them, 71.53 percent are “Highly Likely” and an additional 25.55 percent consider themselves “Likely” to recommend it. This substantial majority reflects the strong confidence in ADGM’s world-class regulatory framework, advanced infrastructure, and exceptional business opportunities within the global business community.

Moreover, this clearly reflects that ADGM’s comprehensive approach to fostering a supportive, innovative, and thriving business environment is resonating with the global business community, positioning it as a leading IFC and a hub of economic activity for the future.

Abu Dhabi, a City Known for Safety, Stability and Quality of Life

A combined 78.84 percent of respondents endorse Abu Dhabi’s overall liveability positively. This endorsement highlights the city’s effectiveness in delivering an outstanding quality of life, supported by superior infrastructure, affordable living costs, and luxurious community facilities. Additionally, Abu Dhabi’s achievement in being ranked as the world’s safest city for the 8th consecutive year further underlines its excellence in ensuring the security and well-being of its residents, making it an even more attractive destination for both expatriates and nationals.

DUBAI, 20th March, 2024 (WAM) — DP World Foundation (DPWF) has teamed up with the Dubai Charity Association to distribute 12,000 Iftar meals daily to workers in the JAFZA community throughout the Holy Month of Ramadan.

In a joint effort reflecting the values of tolerance and compassion associated with Ramadan, DPWF – the philanthropic arm of DP World – has embarked on this initiative to foster harmony among diverse cultures and beliefs in the UAE.

Senior management of DP World and Dubai Charity Association visited one of the three dedicated Iftar tents in Jafza yesterday to engage with the community’s volunteers and members. The campaign will provide 360,000 meals during Ramadan.

The delegation included Nasser Abdulla, Vice Chairman of the DP World Foundation; Abdulla Bin Damithan, CEO and Managing Director of DP World GCC; Ahmed Ibrahim Al-Suwaidi, CEO of Dubai Charity Association; Nabil Qayed, DP World Foundation, Board Member and Executive Vice President of Corporate Support at DP World GCC; Latifa Al Qemzi, Director-General of DP World Foundation; Abdulla Al Hashmi, Chief Operating Officer of Parks and Zones at DP World GCC, and a number of senior officials.

The initiative during the Holy Month reflects the Emirati culture’s core values of coexistence. The choice of launching during this month is attributed to its atmosphere of closeness and solidarity. This underscores the UAE’s unique social fabric, which is characterised by its cultural diversity,” Nasser Abdulla said.

Ahmed Al-Suwaidi said, “We are delighted to collaborate with the DP World Foundation in this endeavour. This partnership reflects Dubai Charity’s core strategy and values, demonstrating its commitment to expanding partnerships, promoting charitable activities, fostering a culture of volunteerism, and enhancing social and humanitarian engagement with diverse segments of society. Our approach aligns with the enduring humanitarian principles established by the late founding father of the UAE, Sheikh Zayed bin Sultan Al Nahyan, as a global exemplar in humanitarian and development efforts”.

Abdulla Bin Damithan, CEO and Managing Director of DP World GCC, added: “The month of Ramadan is a time for community and generosity, and this initiative by DPWF exemplifies these values. We firmly believe that such initiatives play a crucial role in fostering strong bonds between diverse cultures and nationalities.”

With more than 200 nationalities and languages represented in the UAE, this initiative underscores the unity amidst diversity that defines the country. DPWF, in collaboration with DP World, leverages resources, expertise, and networks to address pressing social challenges and empower individuals and communities.

• DUBAI, 20th March, 2024 (WAM) — Tabreed, the UAE’s leading international district cooling company, yesterday held its Annual General Assembly (AGA), during which shareholders approved a record high dividend payment of 15.5 fils per share, paid fully in cash. As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15% over the previous year and recognises Tabreed’s strong financial performance. During 2023, Tabreed reported a growth of 9% in revenue and an increase of 25% in net profit before tax to parent.
• Tabreed’s AGA was chaired by the company’s Chairman, Khaled Abdullah Al Qubaisi, and during the meeting shareholders confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.
• Commenting on Tabreed’s record-setting 2023, Al Qubaisi said that the confirmed dividend payments demonstrate the company’s approach to growth is the right one. “Our shareholders are a top priority for Tabreed and the business has a stellar reputation for delivering consistently excellent returns for our investors. We have just enjoyed another remarkable year and our name as a torchbearer for sustainability is growing, with Tabreed playing a decisive role in steering the conversation about global cooling during COP28.
• “The simple fact is, that Tabreed’s steady growth is not just good for business but good for the planet. Our experience, stretching back more than quarter of a century, is unrivalled. As more countries turn their attention to ever increasing demands for cooling, realising too that they must act to mitigate climate change, district cooling is an obvious and well-established solution. And nobody does it better than Tabreed, which is why we are now gearing up for further international expansion.”
• Last year Tabreed added 53,000 refrigeration tons [RT] of new connections across its portfolio, which also grew with the addition of six new plants. The company now operates in six different countries, including India, and sees enormous potential to increase market share over the coming months and years. Also investing heavily in renewable energy and setting new standards in decarbonisation, Tabreed undoubtedly remains the world’s leader in district cooling.