CBI records 14% growth in net profit in H1 2024
DUBAI, 25th July, 2024 (WAM) — Commercial Bank International (CBI) has announced its financial results for the first half of 2024, with pre-tax net profit growing 14 percent year-on-year (YoY) from AED78.9 million to AED89.9 million.
In a press release today, the bank said that the increase in net profit comes on the back of a combination of strategic initiatives, including, a customer-centric approach, and prudent risk management.
Customer deposits saw a significant 24.6 percent YoY increase, growing from AED11.4 billion to AED14.2 billion, reflecting CBI’s successful efforts in expanding its customer base and enhancing deposit products. Meanwhile, the Bank’s loans and advances, increased steadily by 1.9 percent from AED12.3 billion to AED12.5 billion YoY.
Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said, “I am pleased to report that CBI has closed out the first half of the year on a strong note, which saw us continue to deliver on our strategies and successfully address the growing needs of the Bank’s expanding client base. Looking ahead, we aim to further enhance CBI’s customer experience through the development of new products and services, streamlining processes, and leveraging technology to deliver a seamless and convenient banking experience.
“Ultimately, our strategy aligns perfectly with our commitment to supporting the UAE’s continued economic prosperity, and we are confident that by building on this momentum in the second half of the year, we will continue to deliver and unlock sustainable value for our customers, investors, and the communities we serve.”
UAE reaffirms support for sustainable finance, climate action empowerment
RIO DE JANEIRO, 25th July, 2024 (WAM) — Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, has reaffirmed the UAE’s commitment to sustainable finance and collaboration with Brazil, the current Chair of G20, to achieve climate finance goals, emphasising that finance has been and is still key for enabling climate action.
Al Hussaini announced the UAE’s plan to address the financing gap by the UAE banks offering sustainable financing by 2030 and contributing to the International Monetary Fund for resilience and sustainability to support countries vulnerable to climate change. He also highlighted that the UAE is the largest contributor to the GFMR trust fund.
Al Hussaini made these remarks during his participation in the COP28-G20 Conference on Sustainable Finance, held in Rio de Janeiro, Brazil, on 24th July. The conference was part of the G20 finance ministers and central bank governors’ meetings, which was co-organised by COP28 and Brazil.
Present at the conference were Samir Sharifov, Minister of Finance, Azerbaijan; Fernando Haddad, Minister of Finance, Brazil; Marina Silva, Minister of Environment and Climate Change, Brazil; Sri Mulyani Indrawati, Minister of Finance, Indonesia; Marsha Caddle, Minister of Industry, Innovation, Science and Technology, Barbados; and senior representatives of multilateral development banks.
“During the COP28 conference, hosted by the UAE last year, a global consensus was reached on the need to limit the temperature rise to 1.5°C. This requires a fair and orderly transition away from fossil fuels, with global targets set to triple renewable energy and double energy efficiency by the end of the decade. To achieve these objectives, we will need to mobilise all sources of public, private, and charitable funding,” stated Al Hussaini at the COP28-G20.
“Realising this goal demands a shift towards climate investments and this presents an unparalleled opportunity for prosperity and economic growth. We need an international framework that supports the distribution of finance in ways that mitigate investment risks in developing countries,” Al Hussaini added.
The minister noted that the launch of the Global Climate Finance Framework at COP28 received support from many G20 member countries, commending the close collaboration with a team of high-level experts, which provided a roadmap for the necessary actions to implement this framework. He highlighted that finance ministries play a pivotal role in leading the transition towards climate investments.
Al Husseini pointed out that the G20’s review of multilateral climate funds this year, under the Brazilian presidency, is a necessary move to promote the agenda for accessible and affordable financing. “We hope that COP28 and G20 will establish a robust foundation for future COP conferences, which will be essential for propelling climate finance progress,” he added.
The conference featured discussions on creating a renewable financial structure to facilitate sustainable finance, unlocking investment opportunities for climate action, expanding concessional financing, and enabling private-sector financing. It also discussed the role of multilateral development banks in becoming more effective and mobilising financial resources for national contribution plans.
The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, took part in the third G20 Finance Ministers and Central Bank Governors (G20 FMCBG) meeting.
The UAE delegation was led by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, and included Ibrahim Obaid Al Zaabi, CBUAE’s Assistant Governor of the Monetary Policy and Stability Department; Ambassador Majid Al Suwaidi, COP28 Director-General; Ali Abdullah Sharafi, Assistant Under-Secretary of the International Financial Relationship Sector at the MoF; and Thuraiya Hamed Alhashmi, Acting Director of Relations and International Financial Organisations at the MoF.
Brazil, holding the current presidency, has steered the G20’s agenda on sustainable finance through the Sustainable Finance Working Group (SFWG). The group is working to advance the implementation of the Sustainable Finance Roadmap—a comprehensive, multi-year plan designed to guide the G20’s efforts on climate and sustainable finance.
This roadmap outlines four key priorities: enhancing access to international environmental and climate funds; fostering fair, reliable, and robust transformation plans; and establishing sustainability reporting standards that accommodate the diverse needs of all stakeholders, including SMEs, developing countries, and emerging markets.
Heat, a silent killer that threatens health, lives of workers worldwide, ILO report finds
GENEVA, 25th July, 2024 (WAM) — A new report from the International Labour Organisation (ILO), Heat at work: Implications for safety and health, warned that more workers are being exposed to heat stress worldwide.
The report estimated that 4,200 workers globally lost their lives to heatwaves in 2020. In total, 231 million workers were exposed to heatwaves in 2020, marking a 66 per increase from 2000. Nonetheless, the report stressed that nine out of ten workers globally were exposed to excessive heat outside of a heatwave and eight in ten occupational injuries from extreme heat happened outside of heatwaves.
The new data revealed that regions previously unaccustomed to extreme heat will face increased risks, while workers in already hot climates will confront ever more dangerous conditions.
Heat stress is an invisible and silent killer that can quickly cause illness, heatstroke or even death. Over time, it can also lead to serious heart, lung and kidney problems for workers, the study underlined.
Overall, the report indicates that workers in Africa, the Arab region, Asia and the Pacific are most often exposed to excessive heat. In these regions, 92.9 percent, 83.6 percent and 74.7 percent of the workforce are affected, respectively. The figures are above the global average of 71 percent, according to the most recent figures available (2020).
The fastest-changing working conditions are seen in Europe and Central Asia, the report said. From 2000 to 2020 the region recorded the largest increase in excessive heat exposure, with the proportion of workers affected rising by 17.3 percent, almost double the global average increase.
Meanwhile, the Americas, Europe and Central Asia are witnessing the largest rise in workplace injuries from heat stress since the year 2000, with increases of 33.3 percent and 16.4 percent respectively. This is possibly due to hotter temperatures in regions where workers are unaccustomed to heat, according to the report.
“As the world continues to grapple with rising temperatures, we must protect workers from heat stress year-round. Excessive heat is creating unprecedented challenges for workers worldwide year-round, and not only during periods of intense heatwaves, said ILO Director-General Gilbert F. Houngbo.
Improved safety and health measures to prevent injuries from excessive heat in the workplace could save up to US$361 billion globally – in lost income and medical treatment expenses – as the heat stress crisis accelerates, affecting global regions differently, the study emphasised.
The ILO estimates show that low- and middle-income economies, in particular, are the most affected, as the costs of injuries from excessive heat in the workplace can reach around 1.5 percent of national GDP.
“This is a human rights issues, a workers’ rights issue, and an economic issue, and middle-income economies are bearing the biggest brunt. We need year-round heat action plans and legislation to protect workers, and stronger global collaboration among experts to harmonise heat stress assessments and interventions at work,” Houngbo added.
The impact of heat on workers worldwide is fast becoming a global issue and one that requires action.
“If there is one thing that unites our divided world, it’s that we’re all increasingly feeling the heat. Earth is becoming hotter and more dangerous for everyone, everywhere. We must rise to the challenge of rising temperatures – and step up protections for workers, grounded in human rights,” explained the UN Secretary-General, Antonio Guterres.
Masdar, Endesa partner in €1.7 billion renewable energy transaction in Spain
MADRID, 25th July, 2024 (WAM) — Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy leader, announced today that it has reached an agreement with Endesa S.A. (Endesa) to become a partner for 2.5 gigawatts (GW) of renewable energy assets in Spain, subject to regulatory approvals and other conditions. The transaction would see Masdar invest €817 million (AED3.27 billion) to acquire a 49.99 percent stake, with an enterprise value of €1.7 billion, representing one of Spain’s biggest renewable energy deals.
The portfolio Masdar plans to acquire consists of 48 operational solar plants of 2GW aggregated capacity. Endesa and Masdar aim to add 0.5GW of battery energy storage system (BESS) to the projects. The partnership reinforces Masdar’s reputation as a trusted global energy partner for governments, investors, developers, and communities.
The deal demonstrates Masdar’s commitment to accelerating the energy transition in Spain and Europe, and these solar projects will play an important role in supporting Spain to meet its National Energy and Climate Plan (NECP) and the EU’s net zero by 2050 targets.
In addition to the acquisition Share Purchase Agreement (SPA), Masdar and Endesa have signed a Memorandum of Understanding (MoU) to explore an alliance aimed at jointly developing renewable energy projects in Spain.
The deal reflects Masdar’s ambitious growth plans in Europe, having recently announced that it has reached a definitive agreement with Greece’s GEK TERNA SA and other shareholders of TERNA ENERGY SA to initially acquire 67 percent of the company’s outstanding shares, subject to regulatory approvals and other conditions. With a strong portfolio of projects in Greece and Europe, TERNA ENERGY is targeting a renewable energy operational capacity of 6GW by 2030.
In March this year, Masdar and Spain’s Iberdrola also reached a financial close on the 476MW Baltic Eagle offshore wind project located in the Baltic Sea off the coast of Germany.
Masdar’s existing presence in Spain includes the Almenara 1.2GW solar photovoltaic (PV) project in the Castilla la Mancha region of Spain currently under development.
Masdar is jointly owned by TAQA, ADNOC, and Mubadala; Endesa is a subsidiary of the Italian energy giant Enel.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, said, “Building on Masdar’s global expertise and pioneering approach to renewable energy innovation and development, this partnership underscores our commitment to unlocking clean energy capacity in Spain, Europe, and around the world, supporting the global mandate enshrined in the COP28’s UAE Consensus to triple renewable energy capacity by 2030 enabling a just, orderly and equitable energy transition. Masdar is accelerating its ambitious growth plans as we target 100GW of renewable energy capacity by the end of the decade.”
Flavio Cattaneo, CEO of Enel Group, said, “We are pleased that Enel, through its subsidiary Endesa, has started this partnership with a major player such as Masdar and, looking ahead, we hope that we will be able to carry out similar transactions in other geographies.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented, “By forging a strategic partnership in Spain with Endesa for 2.5GW of solar and battery storage assets, we are taking a significant step forward in our ambitious growth plans in one of Europe’s largest renewables markets. This deal with Endesa will play a significant role in supporting Spain and the wider EU in meeting their net-zero ambitions. We are delighted to also sign an MoU with Endesa to become their preferred partner for future solar projects.”
Masdar has retained BNPP as its transaction adviser, Linklaters as legal adviser, UL as technical adviser, PwC as tax adviser, and PexaPark as PPA adviser.
The acquisition was partially funded via acquisition financing from BNPP, Santander, Intesa, ADCB, FAB and SMBC. Lenders were advised by Ashurst.
Emirates Stallions Group reports 128% growth in operational profit in H1 2024
ABU DHABI, 25th July, 2024 (WAM) — Emirates Stallions Group (ESG), a subsidiary of International Holding Company (IHC), today announced a remarkable operational profit of AED119 million for the first half of 2024, achieving a growth of 128 percent year-on-year (YoY).
The Group reported a substantial revenue increase to AED640 million, an impressive 140 percent year-on-year rise driven by organic growth and strategic expansion.
ESG’s total assets continued to expand, reaching AED3.38 billion, a 10 percent increase YoY. This growth underscores the Group’s ongoing focus on expansion, portfolio development, and its long-term investment strategy. Highlighting its strong financial position, ESG’s total equity has risen to AED2.4 billion, reflecting a 5 percent uptick YoY. Additionally, the company’s book value per share stands at AED9.59, a 5 percent growth YoY.
Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of ESG, said, “ESG has forged ahead swiftly and decisively in 2024, with our growth in gross profit this period highlighting our relentless ambition and the robust fundamentals of our business. This unprecedented growth reflects our commitment to operational optimization and our pursuit of excellence across all verticals. As we continue to explore new opportunities, particularly in future-focused sectors, we are uniquely positioned to refine and redefine our competitive edge.”
Kayed Ali Khorma, CEO of ESG, said, “Our growth in revenue and operational profit in the first half of this year marks another significant financial milestone in a series of recent achievements for the Group. These accomplishments reflect our ability to swiftly connect our leading business propositions to growth opportunities that deliver value for our shareholders and contribute to the UAE economy. As we look ahead to the remainder of the year, our robust financial position provides a solid foundation to enhance our market-leading capabilities and achieve even greater success.”
Crowne Plaza Jeddah Hotel Launches Four Exciting Scuba Diving Packages
As summer heats up, Crown Plaza Jeddah Hotel has crafted an array of thrilling scuba diving offers, available to both hotel guests and residents of Jeddah. Whether you’re a seasoned diver or a curious beginner, the hotel’s exclusive packages provide unforgettable underwater experiences, guided by professional PADI-certified instructors. Explore the depths of the Red Sea, earn your scuba diving certification, or embark on a unique island adventure with these exciting new offers.
Akram Shaar, General Manager of Crowne Plaza Jeddah Hotel, said, “At the Crown Plaza Jeddah Hotel we are dedicated to offering unparalleled experiences that connect our guests with the breathtaking beauty and vibrant culture of our region. Our latest scuba diving packages are more than just offers; they are gateways to adventure, exploration, and unforgettable memories beneath the waves of the Red Sea. We are proud to provide both our hotel guests and Jeddah residents with exceptional opportunities to dive into a world of wonder, guided by the highest standards of safety and expertise.”
Package Options
1. Join us for an underwater exploration journey in the depths of the Red Sea every Friday and Saturday!
Enjoy an exciting discovery diving exploration trip in the depths of the Red Sea under the supervision of a professional instructor certified by the Professional Association of Diving Instructors (PADI). The offer is also available for non-hotel residents, allowing those in Jeddah to book and benefit from the scuba diving exploration trip in the Red Sea.
Available every Friday and Saturday
For more information, please contact the reception desk.
TO BOOK
0122604900
JEDSA.Reservations@ihg.com
linktr.ee/CrownePlazaJeddah
2. Earn Your Scuba Diving Certification:
Learn about scuba diving principles and terminology (either offline or online), then learn basic scuba skills in a pool (or pool-like environment) with a highly trained PADI Instructor. When you’re ready, make four dives in an open water environment (the ocean, a lake) with your instructor supporting you every step of the way.
Enjoy your stay for 5 nights in Crowne Plaza Jeddah and be officially certificated for Scuba Diving in open water by PADI with only 5,700 SAR per person
TO BOOK 0122604900 JEDSA.Reservations@ihg.com linktr.ee/CrownePlazaJeddah
3. Try Scuba Diving
If you’re interested in scuba diving but unsure if you want to enroll in a scuba certification class, ‘Discover Scuba Diving’ is the perfect way to test the waters. In a very short time, you’ll learn basic scuba skills and take your first breaths underwater.
Enjoy your stay in Crowne Plaza Jeddah including Scuba Diving with a professional certified instructor from PADI, Starting from 1399 SAR per person and the extra person will be 700 SAR including TAX (Offer includes Scuba Diving + Transfer up to 3 PAX + Standard room accommodation), Rates are per night.
TO BOOK 0122604900 JEDSA.Reservations@ihg.com linktr.ee/CrownePlazaJeddah
4. A trip to Bayada
You can go with your friends on a 6-hour trip from Crowne Plaza Jeddah Hotel to Bayada Island, This amazing island is a natural destination that has attracted tourists for years because of its stunning views of the Red Sea, its wonderful sandy beaches, and its amazing coral reef colours. This trip will give you the perfect opportunity for an unforgettable experience.
Price: 1999 including tax + one night hotel accommodation + transportation
Note: Before confirming your reservation and paying the fees, contact us to find out the available flight times
TO BOOK 0122604900 JEDSA.Reservations@ihg.com linktr.ee/CrownePlazaJeddah
Celebrate Your Dream Wedding Aboard the Iconic Queen Elizabeth 2 Hotel
Make your dream wedding a beautiful reality on board the majestic Queen Elizabeth 2 Hotel. Celebrate the most important day of your lives on one of the world’s most famous ocean liners, transformed into Dubai’s only floating hotel. This unique and picture-perfect setting offers unparalleled elegance and sophistication, ensuring an extraordinary wedding experience in Dubai.
Queens Room
Featuring its original and elegant 1960s interiors, the Queens Room exudes an unmatched radiance with scenic views of the serene Arabian Gulf. The beautiful white columns and ceiling structure, combined with a dynamic lighting system, make this venue the perfect backdrop for a myriad of events, including weddings and conferences. The adjacent Chartroom Bar is the ideal spot for a pre-function gathering or post-event party.
The Grand Lounge
Exuding the glitz and glamour of a bygone era, The Grand Lounge is a cabaret-style venue with a grand stage perfect for evening entertainment. Accommodating up to 200 seated guests, the vibrant red chairs and carpeting, combined with velvet curtains for privacy, create a unique and captivating setting for events in Dubai.
Yacht Club
The beautifully designed Yacht Club offers both indoor and outdoor settings with sweeping views of Dubai’s iconic skyline as well as the marina below. Exuding mid-century sophistication, the venue can accommodate up to 150 seated guests or 300 guests with cocktail tables, making it an ideal choice for both intimate and large gatherings.
Yacht Club – Terrace
The charming Yacht Club Terrace offers a unique outdoor setting for events with refreshing sea breezes and breathtaking views of Dubai’s skyline and marina. Perfect for hosting upscale receptions, cocktail parties, and exclusive gatherings, the venue can accommodate up to 150 seated guests or 300 standing guests, ensuring a memorable event in a truly one-of-a-kind location.
For inquiries, please email events.qe2@accor.com or call on +97145268888 or visit https://www.qe2.com
-End-
About Queen Elizabeth 2 Hotel, Managed by Accor
Queen Elizabeth 2 Hotel, managed by Accor, is a historic gem and the only floating hotel in emirates. Located in Port Rashid, in close proximity to Dubai’s main attractions and shopping malls, its 447 renovated rooms and suites are carefully decorated, offering a peaceful retreat in which to relax and unwind.
Guests can experience a culinary journey with innovative menus onboard the QE2. The hotel’s dining outlets include Lido – an all-day dining restaurant; The Golden Lion – the oldest pub in Dubai; The Pavilion – an alfresco lounge; and the Queens Grill – serving Afternoon Tea.
For those seeking an event with a difference, the iconic QE2 offers multiple one-of-a-kind venues in Dubai. Included in its facilities are unique indoor and outdoor event spaces. Whether you are planning a birthday bash, an anniversary party, a wedding celebration, or any other social or corporate functions, the QE2 provides an inspiring and impressive backdrop that will delight your guests.
For reservations & Inquiries
Call +971 4 526 8888 or email Reservations.qe2@accor.com
Or visit https://www.qe2.com
For Media Inquiries contact:
Hina Bakht
Managing Director
EVOPS Marketing & PR
Mob: 00971 50 6975146
Tel: 00971 4 566 7355
Sindh Business Leaders Meet Ambassador Faisal Niaz Tirmizi to Discuss Economic and Cultural Initiatives in UAE
A group of business leaders and professionals from Sindh called on Ambassador Faisal Niaz Tirmizi on July 18, 2024 to appraise him of what they are doing in the UAE to promote economic activity, friendship and cultural heritage of Pakistan in the United Arab Emirates
Ajman Bank sets highest Record in its history for the first half of 2024
His Highness Sheikh Ammar Bin Humaid Al Noaimi, Crown Prince of Ajman and Chairman of Ajman Bank Board of Directors, chaired the meeting held today at the bank’s headquarters, with the attendance of board members and Mustafa Al Khalfawi the CEO of the bank.
His Highness reviewed the bank’s results for the first half of 2024, which showed that it achieved an all-time high half-yearly net profit of AED 216 Million up by 111%, supported by strong profit of AED 108 million in Q2 2024. This is on the back of a 12% increase in total operating income to AED 813 Million as compared to AED 729 Million in corresponding first half of 2023, and net operating income of AED 428 million – an increase of 2%. Return on shareholder Equity (annualized) and Return on Asset (annualized) have doubled in H1 2024 as compared to corresponding period of 2023 to 15.0% (up by 695 bps) and 1.8% (up by 88 bps) respectively.
The strong results are supported by a healthy balance sheet with Total Assets of AED 24.2 Billion, Customer deposits of AED 20.2 Billion and AED 2.9 Billion of Equity.
His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, said, “Ajman Bank’s excellent H1 2024 financial performance showcases the success of our strategic initiatives and the strength of the UAE’s economic landscape. We are immensely proud of our team and extend my gratitude to the Board of Directors, senior management, and all employees for their continued support, hard work and dedication.”
Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, stated, “Our outstanding H1 2024 financial results with substantial income growth across all core businesses underscore Ajman Bank’s unique market position and reputation as a trusted partner. These accomplishments are a collective victory for our team and our customers, driving us to innovate and excel further. Speed, Service, and Specialization are the cornerstones of our operations. We are poised to capitalize on exciting opportunities ahead of us and we remain committed to delivering exceptional value and fostering innovation to drive sustainable growth.”
Ajman Bank’s Capital adequacy ratio increased to 17.6% (up by 251 bps) and Tier 1 Capital Ratio increased to 16.4% (up by 252 bps), which remain well above regulatory requirements. Advance to stable resources ratio of 78.4%, and eligible liquid asset ratio of 19.8%, underline its solid liquidity and along with the capital position provide a strong foundation for continued growth. Ajman Bank’s non-performing financing ratio reduced significantly to 10.9% in Q2 2024 (from 14.7% in Q1 2024), clear evidence of the improving credit portfolio of the bank.
This strong financial performance was delivered thanks to continued focus on expanding the customer base, operating income, enhancing the credit quality, and continued focus on risk management. 33% of the new accounts opened through digital channels which emphasis on our focus on the digital transformation. Additionally, the BBB+ Rating with a Stable Outlook from Fitch reflects our financial strength and stability.
The bank is confident that the solid foundation on the back of it’s strong H1 2024 results, the ongoing transformation and the strength of the UAE economy will help it maintain a strong momentum for growth and continued profitability through 2024 and beyond.
du launches Future X, a graduate trainee program to forge the next generation of digital innovation leaders
The program offers a comprehensive framework for fresh graduates aimed at nurturing the technological experts of tomorrow.
Dubai, UAE, July 8, 2024: du, from Emirates Integrated Telecommunications Company (EITC), today announced the launch of Future X, an innovative graduate trainee program for UAE nationals crafted to nurture and convert fresh talent into outstanding professionals. Future X represents du’s commitment to digital excellence, providing an incubator for tomorrow’s leaders with a structured framework for graduates to transition from academia to a professional environment.
The Future X program is an accelerated journey built around the principles of learning, innovation, and adaptability. It equips UAE nationals who are newly graduated from higher education with skills that resonate with industry progression and tech-forward strategies, to accelerate in a digital-first market by focusing on continuous professional development and emphasizing tech-driven innovation.
Fatema Al Afeefi, Head of Employee Experience and HR Digitalization at du, said: “In response to dynamic market changes, du is committed to delivering innovation excellence. Emiratisation, coupled with the need for technological expertise, is at the forefront of our revamped strategy to nurture a pioneering workforce in future-anchored technology. Future X is a transformative program to comprehend and adapt to market needs and cultivate the most fitting talent for a future-proof UAE.”
Future X is designed to facilitate the creation of Emirati talent with digital focused trainings and tailored for the innovative world and the market demands. By integrating a visionary structure of four core pillars—Digital Talent Learning, Culture of Innovation & Excellence, Adaptability & Integrity, and Collaboration & Engagement, Future X ensures that talented graduates are versatile, ethically grounded, and collaborative – well-equipped for the current market and proactive pioneers of tomorrow’s digital landscape. The program has a comprehensive curriculum with training paths organized to offer participants a spectrum of tools, knowledge, and practical training required to thrive in selected specializations. Through instructive workshops, personalized mentorship, collaborative projects, and exposure to industry dynamics, graduates will acquire a robust skill set for their professional journey. Embark on a journey of innovation and growth—apply to Future X at www.du.ae/FutureX and start shaping your digital future today.
e& UAE accelerates 50G PON technology adoption through live network deployment
e& UAE has successfully deployed 50G PON (50-Gigabit-capable passive optical networks) technology in live network.
50G PON technology represents a significant leap from the previous GPON and XGS-PON technologies, which have been fundamental in delivering broadband services globally. It aims to increase internet speeds up to 50 Gigabits per second (Gbps) substantially, enabling faster streaming of high-definition videos, quicker downloads and uploads, and a more responsive online experience. Furthermore, it supports the growing number of smart devices at homes, from smart TVs to connected appliances, ensuring everything runs smoothly without interruptions.
Marwan Bin Shakar, Senior Vice President Access Network Development, e& UAE, said, “At e&, we are committed to evolving and meeting the ever-growing demands for faster, more reliable, and widespread connectivity. With the deployment of 50G PON technology, we are leading the charge in transforming our network infrastructure and being future ready.”
e& UAE’s deployment of 50G PON is among the pioneering initiatives globally, reflecting the UAE’s leading position in telecommunications and connectivity. While most markets are still in the process of rolling out 10G PON technology or are in the early stages of adopting 50G PON, this live network deployment positions the country with a significant lead.
“As we transition into an era of hyper-connectivity and digital transformation, 50G PON technology is beyond an upgrade—it’s a revolution. It redefines the possibilities of fibre optic communication, paving the way for ultra-high-speed internet access across all sectors and industries. This advancement positions us at the forefront of global innovation, ready to unlock the future of connectivity,” added Bin Shakar.
50G PON technology brings a wide array of benefits. For consumers, it means seamless streaming of high-resolution content, faster downloads and uploads, and a more responsive online experience. Additionally, businesses will benefit from quicker data transfers, enhanced cloud-based applications, and robust support for bandwidth-intensive operations like video conferencing, remote collaboration, and data backups.