Elegant driving pleasure for purists: the new Mercedes-AMG GT 43 Coupé

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Elegant driving pleasure for purists: the new Mercedes-AMG GT 43 Coupé
  • AMG 2.0-litre turbo engine with 310 kW (421 hp) output and spontaneous response
  • Rear-wheel drive and favourable weight distribution ensure dynamic driving behaviour
  • Elegant visual differentiation in the exterior design

Mercedes-AMG is expanding the portfolio of the new AMG GT Coupé with the AMG GT 43 (combined energy consumption 10.3 l/100 km, combined CO₂ emissions 235 g/km, CO₂ class G)[1]. The combination of a relatively lightweight four-cylinder engine on the front axle and pure rear-wheel drive makes the new model an agile cornering artist with extremely dynamic handling and a lot of driving fun.

The AMG 2.0-litre turbo engine delivers 310 kW (421 hp) and generates a maximum torque of 500 Nm. What is special is the electric exhaust gas turbocharger, a technology from Formula 1™. This form of charging guarantees particularly spontaneous responses across the entire speed range. The new AMG GT 43 offers an even more dynamic driving experience and at the same time increased efficiency. The turbocharger is operated via the 48-volt on-board electrical system, which also feeds the belt-driven starter generator. This briefly delivers an additional boost of 10 kW (14 hp). The second generation also functions as a mild hybrid in the 48-volt on-board electrical system, which, in addition to the temporary boost in performance, also enables functions such as coasting and recuperation for even greater efficiency. The 48-volt technology also increases comfort, as the transitions between the start-stop and coasting functions are almost imperceptible.

“Our AMG GT family is at the top of our portfolio and embodies the spirit of our brand: Driving Performance. We are therefore delighted that this family is now growing to include the GT 43. It is clearly recognisable as a GT but is clearly different from the other models. It appeals to customers who love design and focus on elegance but are unwilling to compromise on driving pleasure and driving dynamics. The rear-wheel drive concept makes the GT 43 a very agile vehicle that will put a smile on your face on winding roads.” 
Michael Schiebe, CEO of Mercedes-AMG GmbH, and Head of Business Units Mercedes-Benz G-Class & Mercedes-Maybach

The performance is commensurate with its status: the AMG GT 43 accelerates from a standstill to 100 km/h in 4.6 seconds. The top speed is 280 km/h.

Electric exhaust gas turbocharger improves engine response

The AMG 2.0-litre four-cylinder turbo engine in the AMG GT 43 achieves its maximum output of 310 kW (421 hp) at 6,750 rpm. The maximum torque of 500 Nm is available between 3,250 rpm and 5,000 rpm. Depending on the situation, the system also guarantees a short-term additional boost of 10 kW (14 hp) from the belt-driven starter generator (RSG).

The functional principle of the electric exhaust gas turbocharger is based on the same technology that is also used by the Mercedes-AMG Petronas F1 Team. An approximately four-centimetre narrow electric motor is integrated directly on the shaft of the turbocharger, between the turbine wheel on the exhaust side and the compressor wheel on the fresh air side. Electronically controlled, this directly drives the shaft of the turbocharger and thus accelerates the compressor wheel before the exhaust gas flow takes over the conventional drive.

This significantly improves the response behaviour right from idle speed and across the entire speed range. The combustion engine reacts even more spontaneously to accelerator pedal commands, and the overall driving experience is more dynamic. In addition, the electrification of the turbocharger enables higher torque at low speeds. This also increases agility and optimises the ability to accelerate from a standstill. Even when the driver releases the accelerator or brakes, the technology of the e-turbocharger maintains the boost pressure at all times. This ensures continuous, direct response.

AMG SPEEDSHIFT MCT 9G transmission with wet starting clutch and rear wheel drive

In the AMG SPEEDSHIFT MCT 9G transmission (MCT = Multi-Clutch Transmission), a wet starting clutch replaces the torque converter. It reduces weight and, thanks to its lower mass inertia, optimises the response to accelerator pedal commands, especially when sprinting and when changing loads. The elaborately co-ordinated software ensures short switching times and quick multiple downshifts. In addition, the double-declutching function in the “Sport” and “Sport+” driving programmes delivers a particularly emotional shifting experience. The RACE START function is also applied, which guarantees optimal acceleration from a standstill.

Active aerodynamics to increase dynamics and efficiency

The active air control system AIRPANEL is a technical highlight for improving aerodynamics. The horizontal slats behind the upper air inlet can be opened and closed under electronic control. This means that the air flow is directed as needed and thus improves aero performance.

Normally the slats are closed – even at top speed. This position reduces air resistance. Only when certain temperatures have been reached on predefined components and the cooling air requirement is particularly high do the fins open and allow maximum cooling air to flow to the heat exchangers. This requires highly intelligent and fast control.

The same applies to another active component of aerodynamics: the extendable rear spoiler, which is seamlessly integrated into the vehicle silhouette. It changes its position depending on the driving condition. The control software takes numerous parameters into account: It includes the driving speed, the longitudinal and lateral acceleration, and the steering speed in the calculation. From speeds of 80 km/h, the spoiler adopts five different angular positions to either optimise driving stability or reduce air resistance.

Chassis with multi-link front axle and lightweight construction measures

As standard, the AMG GT 43 is equipped with the AMG steel spring suspension with particularly high-performance aluminium shock absorbers and lightweight coil springs. A special feature is the multi-link front axle with five links that are arranged completely within the rim. This significantly improves the kinematics. A 5-link space construction also guides the wheels on the rear axle.

To reduce the unsprung masses, all suspension arms, steering knuckles, and wheel carriers on the front and rear axles of the new GT are made of forged aluminium. The spatial control concept guides each wheel with the slightest elastic movements.

The high camber and track stiffness not only enables high cornering speeds, but it also gives the driver optimal road contact in the high corner limit area. This is reflected in excellent lateral dynamics and driving stability at high speeds as well as in the good-natured reaction to external influences such as crosswinds, bumps, or changes in the coefficient of friction.

The lightweight coil springs reduce chassis weight without reducing performance. During the manufacturing process, the spring pad is glued to the spring. This solid connection prevents wear and tear caused by dirt such as sand over the course of the vehicle’s life. The spring does not corrode over its life cycle and the maximum component load can be increased with less weight. This saves around 0.2 kilograms per spring.

Another lightweight construction measure concerns the torsion bar stabilisers on the front and rear axles of the AMG GT 43. Thanks to variable wall thickness, their weight can be reduced. The maximum wall thickness is only used where it is required due to the maximum load – in this case in the area of the rubber bearings.

The latest generation of adaptive damping AMG RIDE CONTROL is available as an option for the AMG GT 43. The chassis control unit uses data analysis – including from acceleration and wheel path sensors – to adapt the damping force for each wheel to suit the situation in just a few milliseconds. The driver can preselect the basic setting using the AMG DYNAMIC SELECT driving programmes: at the touch of a button, the driving behaviour changes, for example, from full dynamics in “Sport+” mode to quiet gliding in the “Comfort” setting. In addition, the tuning of the AMG RIDE CONTROL chassis can be adjusted in three stages using a dedicated button, regardless of the driving programme.

AMG high-performance composite brake system for short braking distances

The AMG high-performance composite brake system guarantees excellent deceleration values and precise control. Internally ventilated and perforated brake discs measuring 390 x 36 mm with six-piston fixed callipers are mounted on the front axle, while on the rear axle they are sized 360 x 26 mm with single-piston floating callipers. The system impresses with short braking distances, sensitive response behaviour and, last but not least, high stability and service life – even under extreme stress. The convenience functions include hill start assist as well as pre-filling and dry braking in wet conditions. When the ignition is switched off and the vehicle is stationary, the parking position “P” is also activated. When driving off, the electric parking brake releases automatically.

The composite brake discs are particularly light: driving dynamics and steering behaviour benefit from the reduced unsprung masses. Brake disc (made of cast steel) and brake pot (made of aluminium) are connected with special pins. This design saves space and supports brake cooling. The directional perforation offers further advantages: It saves weight and improves heat dissipation. In addition, this solution scores with faster response in wet conditions and better pad cleaning after braking.

Optional rear-axle steering combines agility and stability

If desired, the AMG GT 43 can be equipped with active rear axle steering (HAL). Depending on the speed, the rear wheels steer either in the opposite direction (up to 100 km/h) or in the same direction (faster than 100 km/h) as the front wheels. The system therefore enables both agile and stable driving behaviour. The translation of the front wheel steering is more direct, which means the vehicle can be steered more easily at the limit with less steering effort.

Six driving programmes and AMG DYNAMICS: from comfortable to dynamic

The five AMG DYNAMIC SELECT driving programmes “Smooth”, “Comfort”, “Sport”, “Sport +” and “Individual” as well as the “RACE” included in the optional AMG DYNAMIC PLUS package enable a wide range of vehicle characteristics from comfortable to dynamic. The individual driving programmes offer an individual driving experience, precisely tailored to different driving conditions. As a feature as part of the AMG DYNAMIC SELECT driving programmes, the GT models also have AMG DYNAMICS. This integrated vehicle dynamics control expands the stabilising functions of the ESP® with agile interventions in the steering characteristic curve and in additional ESP® functions. When cornering dynamically, for example, a brief brake intervention on the inside rear wheel creates a defined yaw moment around the vertical axis for spontaneous and precise steering.

AMG DYNAMIC PLUS package for maximum driving pleasure

The AMG DYNAMIC PLUS package is optionally available for the AMG GT 43, which bundles numerous high-performance components:

  • Dynamic AMG engine mounts connect the engine to the body more rigidly or more flexibly, depending on the driving situation. In every driving situation, this results in the best possible balance between driving dynamics and comfort.
  • The electronically controlled AMG rear axle locking differential distributes the required power to the wheels even more promptly and precisely during dynamic cornering and rapid acceleration, thus guaranteeing maximum traction.
  • The “RACE” driving programme delivers racetrack performance at the push of a button with even more spontaneous engine response and the more direct accelerator pedal characteristic. Can be selected as an additional driving programme using the AMG steering wheel buttons.
  • The active aerodynamic element, which is hidden in the underbody in front of the engine, contributes to sportier driving behaviour. This carbon profile is an exclusive AMG development and protected by patents. It reacts to the position of the AMG driving programmes and automatically extends downwards by around 40 millimetres at a speed of 80 km/h. This creates the so-called Venturi effect, which additionally sucks the car onto the road and reduces the lift on the front axle.
  • The yellow painted AMG brake calipers visually underline the increased driving dynamics potential.
  • The rigid rear wing can be booked as an option. It is mounted on the trunk lid and provides even more downforce on the rear axle.

Puristic model with elegant distinguishing features in the exterior design

The exterior design of the AMG GT 43 differs from the rest of the AMG family in many details. Particularly striking is the newly designed front apron with large air inlets across the entire width of the vehicle. The narrower front and rear fenders and the reduced track width emphasise the elegant character. There is also a new trim part for the front fenders. The rear apron, which has also been modified, as well as round instead of trapezoidal double tailpipe trims on the left and right characterise the rear view.

The characteristic features of the AMG GT body shape include the long wheelbase, the short overhangs, the long hood, the rear-seat passenger compartment with a steeply sloping windshield and the powerful rear. This results in the typical GT proportions. They give the coupé its powerful, dynamic appearance – together with the wheels that are flush with the outer skin. The AMG GT 43 rolls on 19-inch light-alloy wheels as standard. Other variants with a diameter of 19 or 20 inches are available as an option. There are also forged wheels measuring 21 inches.

The large EASY PACK tailgate including the HANDSFREE ACCESS function makes loading and unloading easier. The optional offer of 2+2 seats increases suitability for everyday use and offers a very good amount of space for travellers and their luggage. If necessary, the luggage compartment can be noticeably expanded using the foldable rear seat backrest.

AMG GT equipment range: great variety for an individual appearance

With the details of its extensive standard equipment as well as many additional options available, the AMG GT 43 offers a wide range of customisation for different customer requirements ‑ from sporty and dynamic to elegant. There are three exterior design packages to choose from to further sharpen the look in the direction of elegance or dynamism:

  • The AMG exterior chrome package includes elegant accents in high-gloss chrome on the front apron, the front fenders and in the side sill panels.
  • In the AMG Night Package, selected exterior elements are finished in high-gloss black, such as the front splitter, the trim strip in the side sill panels, the exterior mirror housings and the window line trim strips. There are also round double tailpipe trims in black chrome and heat-insulating, dark-tinted glass for the rear windows. Depending on the paint chosen, striking contrasts or flowing transitions result.
  • The AMG Night Package II also includes additional elements in black chrome, including radiator trim struts, typography, and a Mercedes star at the rear.

Interior with “hyper-analogue” cockpit and comfort seats as standard

The interior of the Mercedes-AMG GT 43 also features an exciting combination of analogue geometry and the digital world. The designers call this “hyper-analogue.” This is exemplified by the fully digital instrument cluster, which is integrated into a three-dimensional visor. The appearance can be personalised with individually selectable main views. Despite its symmetry, the cockpit design creates a clear focus on the driver.

The centre console flows into the lower area of the instrument panel. The functional and visual centre is the 11.9-inch multimedia touchscreen. The portrait format offers clear advantages, especially for navigation, as well as more ergonomic freedom. The MBUX (Mercedes-Benz User Experience) infotainment system is intuitive to use and capable of learning. It offers extensive AMG-specific content in five display styles. Exclusive menu items such as “AMG Performance” or “AMG TRACK PACE” underline the sporty character.

The AMG GT 43 is equipped as standard with a variety of electrically and manually adjustable AMG sports seats in Nappa leather. The same applies to the optional AMG performance seats with their sculptural design, integrated headrests and increased lateral support. The optionally available upholstery from the MANUFAKTUR customisation program provides a particularly exclusive touch. There are three colours to choose from here. The MANUFAKTUR interior package is available in seven colour combinations.

In addition to the standard high-gloss black, the decorative elements are also available in aluminium or carbon as well as in MANUFAKTUR chrome black. There are also two decorative parts: grey open-pore birch wood and brown open-pore ash ship deck wood with aluminium strips. The AMG performance steering wheel with optional steering wheel heating is available in Nappa leather, Nappa leather/microfibre MICROCUT or carbon design/microfibre MICROCUT.

[1]The stated figures were determined in accordance with the prescribed WLTP (Worldwide harmonised Light-duty vehicles Test Procedures) measurement procedure. The ranges given refer to the German market. The energy consumption and CO₂ emissions of a car depend not only on the efficient use of the fuel or energy source by the car, but also on driving style and other non-technical factors.

Postcardstory. The MINI Countryman SE ALL4.

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Postcardstory. The MINI Countryman SE ALL4.

With its ALL4 all-wheel drive, the all-electric MINI Countryman SE ALL4 is a reliable companion for adventures on any surface. The performance-enhanced crossover model offers plenty of space and comfort for the whole family thanks to a noticeably expanded interior.

With a range of up to 433 kilometers according to the WLTP test cycle, the new MINI Countryman SE ALL4 promises long and locally emission-free driving pleasure on any terrain. Thanks to extended driving assistance systems and partially automated Level 2 driving, this all-rounder offers even greater safety and comfort.
The maximum off-road character of the MINI Countryman is emphasized by the vertical body design with short overhangs and slim contouring. The different vehicle characteristics can be emphasized by four individual trim variants; the characteristic MINI contrasting roofs are available for the first time in the new Vibrant Silver shade.

Samsung Celebrates a Decade of Leadership in the Global Soundbar Market

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Samsung Celebrates a Decade of Leadership in the Global Soundbar Market

Samsung Electronics has held its ground as the leader in the global soundbar market for ten consecutive years, from 2014 through 2023, according to the annual report from FutureSource Consulting. The latest data, released on February 28, highlights Samsung’s continuous market leadership, with a 20.3% market share and an 18.8% contribution to the industry’s sales volume in 2023.

Samsung has continuously raised the bar for home entertainment systems over the years, earning its soundbars a reputation for superior sound quality and groundbreaking innovation. Signature features such as Q-Symphony and SpaceFit Sound have revolutionized the listening experience, offering users a deeply immersive soundscape that is finely tuned to their listening environments.

This standard of excellence has been recognized by industry experts and reviewers, with T3 awarding the HW-Q990C “Best Soundbar” title for its immersive audio and “exceptional object-based sonics,” and HomeTheaterReview giving the soundbar an “Editor’s Choice” distinction and commenting: “It sounds excellent, regardless of what type of content you send its way.”

This year, Samsung continues to push the boundaries with its soundbar lineup, introducing enhanced AI audio features and connectivity options to captivate consumers and home theater enthusiasts alike.

▲ Samsung Electronics’ 2024 flagship Q-series soundbar HW-Q990D further pushes the boundaries of immersive home audio experience

The flagship Q-series soundbar, HW-Q990D, offers impressive 11.1.4-channel surround sound and an upgraded Q-Symphony feature. Powered by AI, the device analyzes and synchronizes voice channels for clear dialogues and immersive soundscape across all speakers. Paired with SpaceFit Sound Pro for customized audio calibration, the soundbar also ensures an immersive experience in any space, while HDMI 2.1 and 4K/120Hz passthrough provides connectivity options that meets the demands of modern home entertainment systems.

“We are thrilled to once again be acknowledged as the market leader in soundbars, a milestone that reflects the positive feedback from our customers over the years,” said Cheolgi Kim, EVP of Visual Display Business at Samsung Electronics. “Building on this success, we will continue to push the boundaries of home entertainment with superior sound quality and advanced connectivity features, leveraging AI-based sound technology to strengthen the consumer experience and Samsung’s position in the global market.”

For more information, visit https://www.samsung.com.

Supreme Council of Energy approves increasing energy and water efficiency programmes in Dubai

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Supreme Council of Energy approves increasing energy and water efficiency programmes in Dubai

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE), chaired the 81st meeting of the Council, which was held virtually in the presence of HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy.

The meeting was also attended by HE Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, and board members HE Dawood Al Hajri, Director General of Dubai Municipality; HE Abdulla bin Kalban, Managing Director of Emirates Global Aluminium (EGA); HE Saif Humaid Al Falasi, CEO of Emirates National Oil Company (ENOC); Juan-Pablo Freile, General Manager of Dubai Petroleum; and Ahmad Mahboub, Acting CEO of the Strategy and Corporate Governance Sector at the Roads & Transport Authority (RTA).

The Council reviewed updates of the Demand Side Management Strategy for 2030 and 2050, which set well-studied goals to reduce water and electricity consumption and link them to effective programmes in green building activities, building retrofits, efficient operation of industrial and government facilities, and the use of treated wastewater, external lighting, and cooling. This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.

HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, said that in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to promote a green economy and sustainable development, the Council regularly reviews programmes to reduce water and electricity consumption with the participation of public and private organisations. These efforts aim to achieve standards and mechanisms that demonstrate the effectiveness of implementation and the percentages that have been achieved in energy resource management.

HE Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, noted that the regular updating of the existing strategies in the Council reflects the degrees of achievement of the set goals to ensure the effectiveness of the existing programmes, in line with the desired goals in the areas of sustainable development for Dubai.

The Council also discussed recommendations to support the strategic direction to increase the infrastructure for electric vehicle charging stations across the Emirate. The Council looks forward to supporting private companies in building and installing charging stations in line with the public-private partnership model. By the end of last January, the number of electric and hybrid vehicles in Dubai reached 49,300 vehicles, and more than 390 charging stations were installed. This will be increased in the coming years.

Mohammed bin Rashid receives Ramadan well-wishers

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Mohammed bin Rashid receives Ramadan well-wishers

DUBAI, 19th March, 2024 (WAM) — His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today received Ramadan well-wishers on the occasion of the Holy Month, at the Al Shindagha Majlis in Dubai.

His Highness Sheikh Mohammed bin Rashid, in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; H. H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister, and Minister of Finance of the UAE; and H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, accepted the greetings of well-wishers who included local dignitaries, senior officials and members of the business community.

Engaging in discussions with the guests, H.H. Sheikh Mohammed highlighted the role played by Dubai’s partnership with the business sector in achieving the goals of the Dubai Economic Agenda D33 and raising the city’s position as a leading global business hub.

Also attending the event were H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group; and H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Sports Council.

Celebrate Eid Al Fitr with Holidays by flydubai

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Celebrate Eid Al Fitr with Holidays by flydubai

Holidays by flydubai offers attractive deals to a selection of destinations for passengers travelling from the UAE between 06 April and 14 April

Dubai, United Arab Emirates, 18 March 2024: flydubai, the Dubai-based carrier, is offering attractive holiday packages for the upcoming Eid Al Fitr holiday period. Passengers from the UAE can travel to a selection of exciting destinations on the carrier’s network.

The Eid holiday packages cater to passengers looking for a relaxing beach retreat or a short city break. The special deals are available for booking by 31 March for travel between 06 April and 14 April 2024 and include return flights and a hotel stay of up to four nights.

For a relaxing beach retreat

Langkawi and Penang from AED 2,649 per person

Iconic for their lush mangroves, pearl-white beaches and unforgettable culinary experiences, these two Malaysian destinations offer the perfect opportunity to relax this Eid. While Langkawi Island is home to some of the most beautiful beaches in Malaysia, Penang is popular for its lively multicultural scene and local dishes that can be found among the stunning streets of George Town.

Mombasa from AED 2,849 per person

Situated on Kenya’s east coast, this coastal jewel is home to beautiful beaches, unique marine life and stunning coral reefs, ideal for water activities. Equally famous for its nature reserves and cultural sites, Mombasa has something for everyone.

Pattaya from AED 3,049 per person

There is a reason why Pattaya has remained as one of Thailand’s most popular destinations. With its sun-kissed beaches and crystal blue waters, tourists can also savour mouthwatering street food or enjoy the city’s thriving atmosphere. This destination in Thailand is a must-visit paradise.

For an exciting city break

Belgrade from AED 2,149 per person

Belgrade, Serbia’s capital, is known for its vibrant atmosphere and quaint neighbourhoods. Visit the Skadarlija street where tourists can delight in its many cafes, concerts and galleries or take in the sights of the Danube River.

Istanbul from AED 2,799 per person

Where East meets West, Istanbul has long been famous for its vibrant atmosphere, fusion of cultures and amazing views of the Bosphorus. Discover Istanbul’s bustling markets and impressive historical sites, including Hagia Sophia and the Blue Mosque, before tucking into the delicious local cuisine in one of the city’s world-class restaurants.

Krakow from AED 2,999 per person

One of the oldest cities in Poland, Krakow offers travellers a glimpse into Poland’s rich history. Featuring magnificent architecture and impressive historical sites including the Wawel Royal Castle, this charming destination has much to offer. ​

Tbilisi from AED 2,449 per person

This Georgian gem has attracted many visitors due to its natural beauty and rich heritage. Surrounded by mountains, tourists visiting Tbilisi can stroll past colourful buildings, impressive historical sites and traditional sulphur bathhouses before indulging in delectable Georgian food.

Holidays by flydubai provides a one-stop-shop where customers can choose from a variety of specially curated holiday packages, including flights and hotels with the option to add on excursions, car rentals and much more.

To book your Eid getaway, please visit: https://holidays.flydubai.com/en/promos/eid-al-fitr-2024

Terms and conditions apply. Prices and availability are subject to change. Prices are based on two adults sharing a room.

UAE joins International Atomic Energy Agency Response and Assistance Network

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UAE joins International Atomic Energy Agency Response and Assistance Network

ABU DHABI, 18th March, 2024 (WAM) — The United Arab Emirates has joined the Response and Assistance Network (RANET), a network established by the International Atomic Energy Agency (IAEA), to provide international assistance to countries during a nuclear or radiological emergency.

RANET was established in 2000, and since then 43 countries have registered their capabilities in the network, on areas including medical support, radiation survey, and other technical aspects. Through the UAE’s registration in the RANET, the country’s capabilities are now available for any IAEA Member State to request assistance in the case of a nuclear or radiological emergency, which may be provided following UAE approvals process.

RANET capabilities registered by the UAE include radiation survey, sampling and analysis, radiological assessment and advice, medical support, and nuclear installation assessment and advice. In addition to FANR, four UAE entities have had their capabilities registered under RANET: Nawah Energy Company; Abu Dhabi Quality and Conformity Council; Al Dhannah Hospital; and Medinat Zayed Hospital.

“The addition of the UAE into the RANET showcases the exemplary standard that the country has reached in the field of emergency preparedness and response, and points to the confidence of the IAEA and its Member States in the UAE’s capabilities in this field, following years of close cooperation with the IAEA through the hosting of workshops and the country’s participation in a variety of exercises organised by the Agency,” said Christer Viktorsson, FANR’s Director-General.

The UAE’s cooperation with the IAEA in emergency preparedness and response encompasses joint exercises, including the UAE’s hosting of the IAEA’s ConvEx-3 exercise in 2021, an international nuclear and radiological emergency exercise involving more than 75 countries and 12 international organisations.

Furthermore, the UAE is a member of the Convention on Assistance in the Case of a Nuclear Accident or Radiological Emergency, which it joined in 1987, and it is part of the Convention on Early Notification of a Nuclear Accident and Request of Assistance. FANR is designated as UAE’s National Warning Point and Competent Authority under the said conventions; and FANR, alongside its national partners, plays also a key role in responding to nuclear or radiological incidents as per exiting approved national and local levels plans.

Since its inception in 2009, FANR developed, issued and revised regulations and regulatory guides for nuclear and radiological emergency preparedness and response matters, in line with its mandate to protect the public and the environment. To that end, FANR operates its Emergency Operations Centre through which it takes part in exercises and drills that aim to develop the UAE’s capacity to respond to nuclear or radiological emergencies.

AED137 million Aldar penthouse sets new Abu Dhabi record

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AED137 million Aldar penthouse sets new Abu Dhabi record

ABU DHABI, 18th March, 2024 (WAM) — Aldar, the leading real estate developer, investor, and manager in the UAE, announced today the landmark sale of Abu Dhabi’s most expensive apartment, a three-bed penthouse at Nobu Residences on Saadiyat Island valued at AED137 million. The sale represents the highest price per square metre achieved in the emirate, at more than AED96,000 per sqm.

This milestone price point reflects the continually growing appeal of the UAE capital as a sought-after place to live and a mature investment destination. Driving the desirability of Abu Dhabi is a transparent and business-friendly environment, enriching entertainment, beachside living on one of 200 natural islands, and incentives like the 10-year Golden Visa programme.

Reflecting a strong desire for luxury living, the record sale of the Nobu Residences Abu Dhabi penthouse follows a recently sold four-bed duplex sky villa at the same development for AED130 million.

Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, said, “This milestone transaction at Nobu Residences not only sets a new benchmark for residential property in Abu Dhabi but also underscores the maturity of the real estate market. Year on year, we are seeing healthy increases in both the volume and value of homes purchased, driven by supportive government policies and initiatives that have increased the attractiveness of Abu Dhabi as a place where people want to live and see real opportunity for investment. We expect this trend to continue as we bring some of the UAE’s most luxurious lifestyle concepts to life on Saadiyat Island and across Abu Dhabi’s prime locations.”

Rashed Al Omaira, Acting Director General at ADREC, said, “Abu Dhabi’s real estate sector continues to gain significant momentum with a sustained surge in demand across property types. This new record reflects the resilience and maturity of our real estate market, reaffirming the solid growth of Abu Dhabi as a preferred place in which to live, work, and invest. By steadily expanding new horizons, our mission remains to develop outstanding residential projects that incorporate the unique and diverse cultural ambience of the emirate of Abu Dhabi, concurrently positioning it as an exceptional destination at the heart of the real estate market worldwide for living and investment.”

Nobu Residences Abu Dhabi is set to become one of the first branded residences for the globally renowned Nobu hospitality brand in the Middle East. The community promises an elevated lifestyle, seamlessly integrating Nobu’s Japanese design and hospitality with contemporary luxuries to offer an elevated living experience. It is conveniently located within walking distance of Saadiyat Grove and Mamsha Al Saadiyat, offering an elegant waterfront promenade with more than 60,000 sqm of premium shopping, dining, and hospitality experiences.

Australian, Asian businesses accounted for 50% of MNCs attracted by Dubai International Chamber in 2023

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Australian, Asian businesses accounted for 50% of MNCs attracted by Dubai International Chamber in 2023
  • DUBAI, 18th March, 2024 (WAM) — Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that 50 percent of the Multinational Corporations (MNCs) it successfully attracted to Dubai during 2023 are based in Asia and Australia. The growing number of major international businesses attracted from countries across the globe underlines the emirate’s importance as a key trade and investment hub.
  • The figures illustrate the diversity of markets represented among the MNCs the chamber has attracted to Dubai through its network of international representative offices around the world. Latin America and Europe accounted for 23.5 percent of the total number of MNCs attracted during 2023, with the Middle East and Eurasia accounting for an equal share of 23.5 percent. Companies from Africa represented 3 percent of the total number of corporations attracted by the chamber.
  • The chamber also revealed that 18 percent of the MNCs attracted to Dubai in 2023 operate within the financial services sector in areas including banking, asset and wealth management, and fintech. The trade and logistics sector ranked second with 15 percent, followed by the IT sector in third place, which accounted for 12 percent with MNCs specialising in artificial intelligence, blockchain, robotics, and software.
  • The retail, fashion, and travel and tourism sector ranked in fourth place, accounting for 9 percent of the total number of MNCs attracted to the emirate. The manufacturing, mobility (including aerospace, space, and autonomous and conventional vehicles), and real estate sectors shared fifth place on the list, with each sector accounting for 6 percent of the total.
  • Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, “Dubai is globally recognised as one of the most attractive cities for multinational corporations operating in all sectors. This attraction is driven by the emirate’s numerous competitive advantages, which include a business-friendly environment; economic and cultural openness; favourable legislation, economic strategies, and policies; and the exceptional ease of doing business.”
  • He added, “We are committed to further enhancing Dubai’s attractiveness as a destination for investments through our growing network of international representative offices. This is further supported by Dubai International Chamber’s efforts to connect the global business community to the exciting opportunities for growth, expansion, and prosperity Dubai offers to businesses and investors.”
  • Dubai International Chamber successfully attracted 34 MNCs to the emirate during 2023, achieving an annual growth rate of 580 percent compared to the previous year. This impressive increase reflects the chamber’s ongoing contribution to achieving the objectives of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy over the coming decade and consolidate Dubai’s position among the world’s top three economic cities.
  • The total number of international representative offices operated by Dubai International Chamber now stands at 31, with 16 new offices launched during 2023 alone. This growing network comes as part of the ‘Dubai Global’ initiative, which aims to establish 50 representative offices worldwide by 2030 to support efforts to attract international investments, companies, and talent to Dubai.

Bloomberg launches new Murban Crude Oil Index

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Bloomberg launches new Murban Crude Oil Index
  • ABU DHABI, 19th March, 2024 (WAM) — Bloomberg has announced a new Bloomberg Commodity Murban Crude Oil Index, aimed at tracking the performance of rolling futures on Murban Crude Oil. The new offering is a subindex of the flagship Bloomberg Commodity Index (BCOM) and reflects the global recognition and status that Murban crude and the Murban futures contract has quickly established as it trades alongside global benchmarks such as Brent and WTI.
  • Launched in March 2021, the Murban crude oil future is a physically delivered contract at Fujairah in the UAE that trades on the ICE Future Abu Dhabi (IFAD) exchange.
  • Since its launch, the Murban futures contract has significantly increased the number of both physical and financial buyers of the UAE’s Murban crude.
  • More than 150 participants have traded on IFAD since its launch, with participants from across the United States, Europe, Asia, and the Middle East, demonstrating the global audience for trading Murban crude oil.
  • Since the launch of IFAD, over 5.5 million contracts have been traded, the equivalent of 5.5 billion barrels of Murban crude oil. Around 244 million barrels of Murban crude oil have been delivered through IFAD, showing customers’ confidence in the IFAD delivery process.
  • Sourced from ADNOC’s onshore concessions, Murban crude represents more than half of the UAE’s total oil production.
  • While the primary route for exposure to global crude oil markets has historically been via WTI and Brent Crude Oil futures, Bloomberg’s index research team notes that the geography of demand, crude grade and transportation dynamics of Murban crude oil futures not only offers investors with WTI and Brent Crude Oil exposure diversification benefits, but also the ability to better target geopolitical risk and regional growth dynamics.

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Dubai Customs Launches 11 Diverse Community Initiatives during Ramadan

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Dubai Customs Launches 11 Diverse Community Initiatives during Ramadan

Dubai Customs remains dedicated to backing its voluntary and community endeavors throughout Ramadan, catering to diverse societal groups and its workforce. The department consistently amplifies its efforts and sustains its Ramadan campaign annually, launching 11 community initiatives during the holy month.

Across Ramadan, Dubai Customs orchestrates a range of activities and charitable projects, addressing various aspects of social responsibility and volunteerism it upholds. Targeting needy families, elderly citizens, laborers, clients, orphans, and featuring special engagements for employees, these initiatives embody the department’s commitment to societal welfare.

Dubai Customs’ Ramadan events are known for their inclusivity, starting with the volunteer team’s distribution of iftar meals to road users, now extended to include elderly citizens in collaboration with Dhakar Club. These activities aim to foster dialogue and honor the significant contributions of elderly citizens to society.

In addition to sustained charity efforts, initiatives include distributing 30,000 meals during Ramadan, organizing Ramadan suhoor for clients, daily prizes on Sama Dubai channel’s “Mandous” program, hosting collective iftars for new Muslims with the Islamic Information Center, and arranging religious lectures throughout Ramadan.

Khalil Saqer bin Gharib, Director of Corporate Communication Department at Dubai Customs, highlights the department’s strategic commitment to supporting community initiatives, aiming to reinforce values of benevolence and social responsibility comprehensively. With 175 initiatives executed in the past year, benefiting 238,000 individuals from all segments of society, Dubai Customs has emerged as a leader in implementing diverse community initiatives, achieving a remarkable 98% community happiness rate, as per a comprehensive study conducted across all segments.

UAE Food Bank launches initiative to distribute 5 million meals during Ramadan

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UAE Food Bank launches initiative to distribute 5 million meals during Ramadan
  • The Bank aims at distributing an average of 166,666 meals daily to beneficiaries both locally and internationally.
  • The initiative aims to provide food to over half a million families and more than three million workers.
  • Five sub-initiatives have been implemented to collect and distribute surplus food and minimize food waste; in addition to 25 educational programs
  • Over 5,000 volunteers will participate in supporting the implementation of the bank’s activities during Ramadan.
  • More than 350 strategic partners, including food facilities, hotels, and restaurants, will be involved in the initiative.
  • The Food Bank has reached 35 million beneficiaries locally and globally since its establishment in 2017.

Al Hajri:

  • “The United Arab Emirates has been dedicated to consolidating the principles of kindness and generosity, through its commitment to humanitarian work and supportive initiatives aimed at advancing global food security.”
  • “Enabling the bank to act as a comprehensive humanitarian system, efficiently overseeing surplus food, minimizing waste, and facilitating global distribution to beneficiaries.”
  • “Aiming to divert 975 tons of food from landfills during Ramadan, equivalent to planting 102,135 trees annually.”

Under the directives and supervision of Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Chairperson of the UAE Food Bank, an initiative under the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) umbrella, the UAE Food Bank has implemented an initiative that focuses on effectively managing surplus food, minimizing waste, and globally distributing it to the beneficiaries. The initiative for the holy month of Ramadan aims to gather and distribute over 5 million meals to deserving individuals through collaborative efforts with partners. The initiative aims to distribute with a daily rate of 166,666 meals to feed over half a million families and more than three million workers. This effort underscores the values of kindness, generosity, charity, and social welfare.

The bank’s commitment to supplying meals to beneficiaries encompasses diverse sub-initiatives and campaigns, including the ‘Your Iftar is on Us’ campaign, the ‘No for Wasting Food initiative, the ‘Cook of Thousand Meals’ initiative, ‘Food Parcel,’ and ‘Iftar with the Workers.’ Additionally, 25 educational programs will be implemented to raise awareness on environmental sustainability, social responsibility, and volunteering. Anticipating widespread support, the bank expects a large number of strategic partners and supporters from food facilities, hotels, and companies, exceeding 350.

Over 5,000 volunteers will participate in supporting the bank’s initiatives throughout the month of Ramadan. Also, the bank will sign five partnership agreements aimed at strengthening its efforts in efficiently managing surplus food and minimizing waste in cooperation with the private sector.

H.E. Dawoud Al Hajri, Deputy Chairman of the Board of Trustees of the UAE Food Bank, underscored the significance of the bank’s initiatives during the holy month of Ramadan, highlighting the bank’s role as a comprehensive humanitarian system and a pioneering global institution that prioritizes the value of food provision. With a focus on managing surplus food, minimizing waste, and distributing food to beneficiaries around the world, the bank operates within a well-structured institutional framework. These efforts align seamlessly with the UAE’s core values of kindness and generosity, its commitment to humanitarian work, and its support for global food security, sustainable development goals, and the fight against hunger.

Al Hajri said: “With these initiatives, our objective is to promote responsible food management and reduce food waste. We further aspire to cultivate a sense of social responsibility, encourage volunteerism, and actively engage in gathering and distributing financial and food donations to beneficiaries. Our efforts are aimed at instilling values of compassion, generosity, and solidarity within the community, ensuring the efficient distribution of surplus food to the widest possible segment during the holy month of Ramadan.”

Al Hajri emphasized the bank’s goal to divert 975 tons of food waste, away from landfills during Ramadan, equivalent to planting 102,135 trees annually. This commitment aligns with the bank’s dedication to environmental sustainability, aiming to create a positive environmental impact in all campaigns and initiatives. These efforts also contribute to the broader objectives of reducing carbon emissions and achieving a 30 per cent reduction in food waste by 2027.

‘Your Iftar is on Us’ initiative

Within the framework of ‘Your Iftar is on Us’ initiative, the UAE Food Bank is set to gather meals for distribution to beneficiaries both within and outside the UAE. This initiative aims to provide 350,000 meals, generously donated by more than 50 organizations. The campaign will be organized by seven entities, with the participation of several volunteers collaborating to ensure its successful implementation.

Donate a Food Parcel Initiative

The goal of ‘Donate a Food Parcel’ initiative is to gather contributions in the form of food parcels through the purchase of vouchers redeemable at local retail stores. These food parcels are projected to supply up to 1.5 million meals, aligning with the UAE Food Bank’s commitment to ensuring families have sufficient access to food and actively participate in the fight against hunger.

Iftar with Workers initiative

The UAE Food Bank is organizing an initiative focused on providing iftar meals to over 2,000 workers in Dubai. The primary goal of this initiative is to foster community solidarity and acknowledge the invaluable contributions of workers.

The Cook of Thousand Meals initiative

The UAE Food Bank is set to organize ‘Cook of Thousand Meals’ competition, an event convening aspiring chefs to cook and distribute 4,000 meals daily over five days during the holy month of Ramadan in the UAE. This collaborative initiative is being organized in partnership with Taya Production.

Furthermore, the bank will collaborate with 200 donors from fruit and vegetable markets, commercial enterprises, and wholesale markets to redistribute surplus food and prepare meals adhering to high-quality standards for the well-being of workers, with a goal to provide up to two million meals. Additionally, any surplus cooked meals from local restaurants and hotels will also be distributed.

‘No for Wasting Food’ initiative

The UAE Food Bank’s ‘Food Rescue’ initiative strives to recycle unsuitable food for human consumption, diverting it from landfills and transforming it into fertilizers. This will be implemented in cooperation with the National Food Loss and Waste initiative ‘Neama’ and partnership with the private sector. The initiative aims to recycle 1.5 million meals of surplus food and turn it into fertilizer that will be distributed to farmers in the Hatta region.

Since its inception in 2017, the UAE Food Bank has successfully distributed meals to over 35 million beneficiaries, both locally and globally. In the past year alone, its initiatives and campaigns reached over 18 million and 617,000 beneficiaries worldwide, implementing more than 105 awareness programs with about 9,843 participants.

Democratizing World-Class Art: The Met x Samsung Art Store

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Democratizing World-Class Art: The Met x Samsung Art Store

“We believe that art is for all. Expanding access through digital activations allows us to have a lasting relationship with art lovers around the world.”
– Stephen Mannello, Head of Retail and Licensing at The Metropolitan Museum of Art

Since last year, Samsung Art Store users have been able to display iconic artwork from The Metropolitan Museum of Art (The Met) on The Frame — transforming the TV into a digital canvas that infuses artistic flair into any space. By partnering with Samsung, the public has a chance to view historical artifacts through immersive digital experiences that can be enjoyed from home.

The Met seeks to expand art education while exploring new ways for technology to positively impact cultural exchange and inspire audiences around the world. The goal is to bridge the gap between the past and the present to create a future where beauty and creativity can flourish anywhere.

Samsung Newsroom sat down with Stephen Mannello, Head of Retail and Licensing at The Met, to discuss the partnership with Samsung and how technology can positively influence the museum experience.

▲ The Metropolitan Museum of Art has partnered with Samsung Art Store to democratize access to its world-class collection of art.

A New Partnership for the Digital Age

Q: What is your role at The Met? How do you influence the museum and visitor experience?

I’m the Head of Retail and Licensing at The Met which means I work with The Met Store and our licensees to develop products, publications and experiences that draw from the museum’s vast collection of art spanning 5,000 years and bring it into the hands of consumers around the world.

My role offers a unique opportunity to create a connection with visitors and consumers through products that engage, educate and inspire them to experience The Met’s 19 different collection areas in new ways. Proceeds from our work go back to support the study, conservation and presentation of The Met’s collection, so there is a tangible impact to the products and experiences we develop.

“We are looking forward to evolving and experimenting with how we continue The Met’s mission to bring art into the everyday, and technology is an essential mode of making that happen.”

Q: What was the initial focus for The Met when it began collaborating with Samsung Art Store last fall?

Working with Samsung Art Store allowed us to step into a unique space where technology meets digital innovation and interior design. Our inaugural collection spans time and place to include highlights from The Met’s 17 curatorial departments which users of The Frame can explore and display in their homes.

Sharing these beloved works with Samsung Art Store has allowed us to present a small part of what The Met has to offer to a global audience of art and design lovers like never before — and this is only the beginning of what we hope will be a longstanding relationship. We look forward to sharing more of our collection and exploring different thematic offerings that inspire and delight Samsung Art Store users in the future.

Q: Over the past few months, how have The Frame users responded to The Met’s collection?

We were overwhelmed to see how popular artwork from The Met has been on the platform. It is a true testament to the enduring appeal of pieces like Vincent van Gogh’s “Wheat Field with Cypresses” or Emanuel Leutze’s “Washington Crossing the Delaware” — both of which are popular attractions in our galleries and translate beautifully when experienced digitally on The Frame.

▲ “Wheat Field with Cypresses” by Vincent van Gogh on The Frame

Impressionism With The Met and Art Store

Q: Samsung Art Store will feature a selection of Impressionist works this month from The Met’s collection. What is the significance of this new selection?

The Impressionist movement began in 1874, just four years after The Met was founded. While the two events are independent of each other, there is an interesting parallel in the revolutionary spirit of artists like Edgar Degas and Camille Pissarro — who led the charge in this radical style of artmaking that put a new emphasis on everyday life — and the foundation of The Met which sought to democratize art by bringing it to the masses.

Since the foundation of the movement 150 years ago, The Met has become home to dozens of renowned Impressionist pieces that endure as visitor favorites. The visual splendor of this artwork is supported by so many wonderful stories. For example, “The Monet Family in their Garden at Argenteuil” was painted by Edouard Manet in 1874 while the two artists were vacationing near one another. As this piece was being made, Monet in turn painted Manet, and Renoir simultaneously painted “Madame Monet and Her Son” (now in the National Gallery of Art in Washington, D.C.). These works of art speak volumes about the vibrant creative exchange that took place between Impressionists at the outset of the movement.

Q: Out of the artwork selected for Samsung Art Store, which three would you recommend for The Frame?

▲“View from Mount Holyoke, Northampton, Massachusetts, after a Thunderstorm–The Oxbow” (1836) by Thomas Cole

First is Thomas Cole’s “View from Mount Holyoke, Northampton, Massachusetts, after a Thunderstorm–The Oxbow” (1836). This impressive Hudson River School landscape painting juxtaposes untamed wilderness and pastoral settlement to spotlight the beauty of American scenery — with a vast array of possible interpretations to the artist’s message. Hidden in the foreground, Cole includes himself at his easel capturing the breathtaking scene. The fine details and enigmatic nature of the work make for captivating viewing at home.

▲ “Circus Sideshow (Parade de Cirque)” (1887-88) by Georges Seurat

Next is Georges Seurat’s “Circus Sideshow (Parade de Cirque)” (1887-88). This groundbreaking painting is the artist’s first nighttime scene and the first to depict popular entertainment. At the time this piece was made, the parade, or sideshow, was a free attraction designed to lure passersby to purchase tickets to the main circus event. The excellent details of this Pointillist composition are especially easy to appreciate on the Frame.

▲ “Still Life with Apples and a Pot of Primroses” (ca. 1890) by Paul Cézanne

Finally, I’d recommend Paul Cézanne’s “Still Life with Apples and a Pot of Primroses” (ca. 1890). This elegant still life was once owned by Claude Monet — an enthusiastic gardener — and was gifted to him by the painter Paul Helleu who famously created the astrological ceiling design at Grand Central Station. With its bold colors and graphic lines, this beautiful work demonstrates Cézanne’s mastery of the still life and is sure to enhance any room.

Q: In your opinion, how has The Met leveraged The Frame and Samsung Art Store to further support its aspirations to bring audiences across different countries and cultures together and draw unexpected connections?

This digital activation has offered a powerful extension of the museum experience at home. Just like visiting galleries, different works resonate with different people at different moments in their lives. It is exciting to see users continually select and change the artwork on display in their homes to suit their mood, design aesthetic or even season. Visiting museums should be about discovery and curiosity with an element of the unexpected. The Met’s feature on Samsung Art Store is a successful example of translating a physical experience into a digital one.

Technology’s Impact on Art and Accessibility

Q: How do you perceive the impact of art on individuals and its influence on collective culture? How does The Met contribute to that impact?

The Met is a space for everyone to be inspired, learn and discover unexpected connections across time and place. Our collection highlights more than 1.5 million examples of human creative achievement from around the world — allowing visitors to the museum and our website to immerse themselves in art. Experiencing The Met and its pieces offers an opportunity to reflect, ask questions and explore untapped creativity and ideas.

“There is an interesting parallel in the revolutionary spirit of [the Impressionist movement] that put a new emphasis on everyday life and the foundation of The Met which sought to democratize art.”

Q: In your opinion, why is it essential to democratize access to art by making it available to a wider audience through platforms like Samsung Art Store?

We believe that art is for all, but many individuals who come to The Met may only visit once in their lifetime. Expanding access through digital activations, products and experiences allows us to have a lasting relationship with art lovers around the world. We hope that sharing The Met’s collection on The Frame can help spark meaningful dialogue about culture and creativity in the past, present and future.

Q: What role do you see technology playing in enhancing the museum experience, especially in the context of digital art platforms like Samsung Art Store?

Engaging with art enthusiasts digitally allows us to spotlight pieces across The Met’s collection in new ways, enabling discovery and exploration. That might mean viewing works that are not on display in the galleries, learning the stories behind the art and artists or zooming in on details — but these are just the early possibilities of bringing physical works of art into the digital space. We are looking forward to evolving and experimenting with how we continue The Met’s mission to bring art into the everyday, and technology is an essential mode of making that happen.

Abdullah bin Zayed congratulates Pakistani Foreign Minister, discusses strategic cooperation

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Abdullah bin Zayed congratulates Pakistani Foreign Minister, discusses strategic cooperation

ABU DHABI, 15th March, 2024 (WAM) — H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, has congratulated Mohammad Ishaq Dar on his appointment as the Minister of Foreign Affairs of the Islamic Republic of Pakistan.

During a phone call, the two foreign ministers discussed the UAE-Pakistan friendship relations and strategic partnership and ways to enhance cooperation to serve the two countries’ mutual interests.

H.H. Sheikh Abdullah expressed his best wishes to his Pakistani counterpart for success in his new role, stressing his keenness to work with him to develop the prospects of cooperation within the growing Emirati-Pakistani strategic partnership.

The two foreign ministers also discussed a number of issues of mutual interest and exchanged views on them.

Real estate valuation in Ajman worth AED718 million in February

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Real estate valuation in Ajman worth AED718 million in February

AJMAN, 14th March, 2024 (WAM) — Eng. Omar bin Omair Al Muhairi, Director-General of Ajman’s Department of Land and Real Estate Regulation, said that in February, there were 129 real estate valuation transactions in the emirate valued at around AED 718 million, as detailed in the department’s monthly report.

He then highlighted the ongoing momentum in Ajman’s real estate market, citing remarkable performance and rising demand across all regions and property categories.

He also underscored a notable surge in commercial property value, marking a 44.7 percent rise compared to January, with commercial assets leading in total valuation at AED568.4 million, while residential properties followed at AED101.4 million, and industrial assets at AED45.35 million.

Al Muhairi added that the valuation of golden residency properties for investors surged by 115 percent from January, totalling 102 transactions valued at AED341 million. This highlights the rapid growth and extensive interest in real estate investments resulting from the emirate’s many competitive advantages and diverse attractions.

Dubai Can initiative cuts single-use plastic water bottle usage by nearly 18 million in two years

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Dubai Can initiative cuts single-use plastic water bottle usage by nearly 18 million in two years

DUBAI, 14th March 2024 (WAM) — Dubai Can, the citywide sustainability initiative, has seen a reduction in the usage of an equivalent of almost 18 million 500ml single-use plastic water bottles in just two years since its launch.

With the support of its partners and sponsors, Dubai Can has placed 50 public water stations in strategic locations across the city, including parks and popular tourist destinations. These stations have dispensed almost nine million litres of water.

Dubai Can was launched on 15th February, 2022, by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, to reduce the utilisation of single-use plastic water bottles, empower residents and visitors to be active players in building a more sustainable future, and contribute to saving wildlife and the marine environment.

The initiative aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform the emirate into a leading sustainable destination. It is part of the wider efforts to reduce the use of single-use plastics and encourage a mindset change in how the city’s residents and visitors view sustainability.

Dubai Can’s objectives are also supporting the Dubai 2040 Urban Masterplan and Dubai’s commitment to helping the UAE achieve the UN Sustainable Development Goals and UAE NetZero 2050 targets.

With the UAE’s “Year of Sustainability” extending into 2024, the Dubai Can initiative has plans to expand with 30 additional water fountains being installed by the end of the year in locations around the city. This will further motivate residents and visitors to undertake simple lifestyle changes such as using refillable water bottles and installing water filters in their homes, offices, and schools.

Yousuf Lootah, Acting CEO of Corporate Strategy and Performance Sector, Dubai Department of Economy and Tourism, said, “The Dubai Can movement has been embraced by residents and visitors alike and we are proud of the considerable success it has achieved since its launch two years ago, in line with the vision of His Highness Sheikh Mohammed bin Rashid, to make Dubai a leading sustainable destination. We have seen consistent engagement with Dubai Can across the city, and the positive impact the initiative has made over the past two years.

“By reducing plastic waste, we are protecting our oceans, wildlife, and natural landscapes, and by choosing reusable options like our public water stations, we are promoting a healthier lifestyle and reducing our carbon footprint. We will ensure that Dubai Can continues to encourage residents and visitors to adopt greener practices and lifestyle choices in line with the goals of the Dubai Economic Agenda, D33, which aims to consolidate Dubai’s position among the top three global cities for business and leisure over the next decade.

“As we strive to achieve Dubai’s sustainability goals, we look forward to the continued success of Dubai Can, particularly in the UAE’s ‘Year of Sustainability’, which has been extended into 2024 and invites everyone to join in the collective effort to adopt sustainable practices. Dubai Can has driven the behavioural changes that are needed to tackle environmental challenges and the success of this initiative could not have been possible without the support of our valued city stakeholders and partners, as well as the overwhelming response from the public,” he added

Dubai has inspired many private companies to install water fountains in their offices, reducing single-use plastics in the workplace. Above all, the movement has encouraged residents and visitors to the UAE to adopt more sustainable behaviour and become conscientious consumers.

Driving a ‘Refill Culture’

All water stations throughout the city adhere to the highest hygiene standards and comply strictly with municipal, healthcare, and federal regulations. The stations provide clean and safe drinking water, which is tested in accordance with Dubai Electricity & Water Authority (DEWA), Gulf Cooperation Council, and World Health Organisation standards. Driving a ‘refill culture’, the drinking water from the stations is kept cool at 10°C, offering people a refreshing, clean, and safe alternative.

A resident in the UAE typically uses 450 plastic water bottles on average in a year, which translates into 4 billion plastic bottles being used annually across the country. The Dubai Can initiative will continue to encourage residents and visitors to help reduce waste and prevent millions of plastic bottles from ending up in landfills and in our oceans.

A second Dubai Can project, the Dubai Reef, was also launched in December 2023. One of the world’s largest marine reef developments, Dubai Reef is part of the city’s efforts to increase fish stocks, support sustainable fishing, and contribute to boosting food security. It will also play a vital role in reducing carbon emissions and increasing marine biodiversity.

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SVC Invests $30 Million in a Private Equity Fund by Olive Rock Partners

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SVC Invests $30 Million in a Private Equity Fund by Olive Rock Partners

Saudi Venture Capital (SVC) announced its investment of $30 million in Olive Rock Partners Fund I, a regional private equity fund focusing on actively investing in macro-supported mid-market buyouts that are demographically driven, geographically advantaged, and technologically enabled, according to a press release from SVC. The subscription agreement was signed by SVC’s CEO and Board Member, Dr. Nabeel Koshak, and Olive Rock Partners’ Founding Partner, Muhannad Qubbaj. The signing ceremony was also attended by SVC’s Chief Investment Officer, Nora Alsarhan, Vice President of Investments, Haifa Almoqbil, and Olive Rock Partners’ Founding Partner, Abdullah Shahin. SVC’s CEO, Dr. Nabeel Koshak, said: “The investment in Olive Rock Partners Fund I is part of SVC’s Investment in Funds Program, which is a continuation of the company’s series of investments and an implementation of its strategy related to developing and sustaining financing for startups and SMEs, especially in strategic sectors.” For his part, the Founding Partner at Olive Rock Partners, Muhannad Qubbaj, said: “We thank SVC for the investment and trust extended and are excited about the fruitful partnership that is being forged ahead between both parties. We also would like to emphasize the aligned conviction that private equity partnerships in the Kingdom of Saudi Arabia will increasingly become a key factor in fuelling the growth of the SME space and in fostering the expansion and development in the overall direct investment landscape.” SVC is an investment company established in 2018, a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.

SFDA Chief Explores Investment Opportunities with U.S. Healthcare Companies

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SFDA Chief Explores Investment Opportunities with U.S. Healthcare Companies

Washington, March 14, 2024, SPA — CEO of the Saudi Food and Drug Authority (SFDA) Dr. Hisham bin Saad Aljadhey has met with several officials from U.S. companies specialized in food, drug, medical devices and equipment.
The meetings went over the roles and responsibilities of SFDA and its support of the private sector in light of the promising development opportunities available in the Kingdom of Saudi Arabia, primarily those related to the localization of the drug and pharmaceutical industries as well as food safety and genetics technologies sectors.
The meetings were held on the sidelines of the 25th session of the International Medical Device Regulators Forum (IMDRF) as part of the SFDA’s endeavor to enhance investment opportunities and engage in the know-how dynamics of the industry and the challenges facing investors and business community.

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