ABU DHABI, 29th May, 2024 (WAM) — Abu Dhabi Securities Exchange (ADX) welcomed today the listing of the Chimera S&P Japan UCITS ETF. This marks the first ETF tracking Japanese equities to be launched on ADX. Managed by Abu Dhabi-based investment management firm Lunate Capital LTD, the ETF replicates the performance of the S&P Japan BMI Liquid 35/20 Capped Index.

The ETF tracks the 30 liquid Japanese companies listed on the Tokyo Stock Exchange, including industry leaders like Honda Motor Co, Toyota Motors Corp, Sony, Softbank Group, Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group, Nippon Steel Corp, Nintendo and more.

The ETF will trade under the ticker symbol JPANI. The Chimera S&P Japan UCITS ETF provides investors direct access to the vibrant Japanese market, further solidifies ADX’s position as the most active and liquid ETF marketplace in the region.

This marks the 13th ETF listing on ADX, giving investors access to nine regional and global markets including the UAE markets. ETF trading values on ADX have exceeded AED5.2 billion in 2023, an increase of almost 161 percent from the previous year, and total ETF trading volumes have reached 1 billion units (representing 205 percent year-on-year growth).

Commenting on the listing, Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, congratulated Lunate Capital for the successful listing of another ETF on ADX. Alnuaimi highlighted the significance of this listing as the third ETF to launch on the Exchange this year and the 13th overall, emphasising ADX’s growing reputation as the ETF hub in the MENA region.

He further emphasised ADX’s commitment to supporting Abu Dhabi’s economic diversification agenda by providing investors with new opportunities for portfolio diversification and long-term growth. The listing of the Chimera S&P Japan UCITS ETF enhances ADX’s connectivity and enables investors to capitalise on the performance of Japan’s stock market.

Alnuaimi also noted the remarkable increase in the average daily traded value on ETFs, from AED8 million in 2022 to around AED21 million in 2023 representing an increase of almost 161 percent. This growth underscores ADX’s dedication to expanding investor options and helping them achieve their financial objectives.

The introduction of this latest ETF aligns perfectly with ADX’s goal of extending its reach to a broader range of markets, offering investors more choices for diversification and long-term growth opportunities.”

Sherif Salem, Partner & Head of Public Markets at Lunate, said, “The listing of the Chimera S&P Japan UCITS ETF on the ADX today marks another step forward in our efforts to broaden investor access to key global markets, including those in Asia. This listing enables our clients and investors to diversify their portfolios by seamlessly tapping into the Tokyo Stock Exchange, the world’s third largest stock market within the fourth-largest economy. The launch of our 15th ETF on the UAE’s stock markets is a testament to our confidence in the UAE’s dynamic economy and supports a push to attract more investors to its financial markets.”

The Chimera S&P Japan UCITS ETF is designed as a physical, in-kind, liquid, and fully fungible fund. It tracks Japanese equities listed on the Tokyo Stock Exchange and intends to distribute dividends semi-annually, when available.

The listing is aligned with ADX’s strategic approach to offering investors diversified and innovative investment solutions, catering to the evolving needs of both retail and institutional investors globally.

ABU DHABI, 29th May, 2024 (WAM) — Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, has partnered with SATCOM Technologies to explore new satellite communications opportunities in Zimbabwe.

The collaboration marks a significant milestone in Yahsat’s ongoing expansion across the African continent, enabling key economic sectors, government departments, and organizations to harness the power of satellite connectivity.

Yahsat’s strategic service partnership with SATCOM Technologies will reinforce its presence in Africa as both parties aim to work more closely with the Zimbabwe Government. Services are expected to commence in June.

Under the service partner agreement, Yahsat and SATCOM Technologies will seek to leverage their expertise to secure government projects by offering innovative, reliable, and efficient satellite-enabled connectivity solutions catering to Zimbabwe’s national requirements and development initiatives, which is expected to transform the country’s connectivity and technological capabilities.

The partnership aims to meet the increasing requirements of various sectors such as mining, agriculture, health, and education.

Sulaiman Al Ali, CCO of Yahsat, said, “We are proud to partner with SATCOM Technologies to deliver our cutting-edge satellite connectivity solutions to Zimbabwe. This strategic partnership is a testament to our commitment to enhancing connectivity across the continent, supporting the digital transformation journey of African nations, and improving access to essential services for all.”

Tafadzwa Collins Semu, CEO of SATCOM Technologies, added, “We are excited to join forces with Yahsat to unlock the immense potential of satellite connectivity in Zimbabwe. Our partnership will play a pivotal role in bridging the digital divide, fostering economic growth, and enabling access to vital services for our communities.”

SHARJAH, 29th May, 2024 (WAM) — The Sharjah Chamber of Commerce and Industry (SCCI) hosted the B-CAD Emirates Convention 2024. The event, which was organised in collaboration with the international trade fair B-CAD (Building-Construction Architecture Design), is dedicated to the “future of Sustainable Design and Made in Italy Construction and Architecture Products”.

The Convention aims to showcase the best global practices in the fields of building, architecture, and sustainable design, as well as innovation in city planning, infrastructure, and mobility. It underscores the Sharjah Chamber’s commitment to facilitating events that enhance commercial ties for the private sector and promote sustainability efforts across diverse industries.

Held at SCCI’s headquarters, the Convention was attended by Abdallah Sultan Al Owais, Chairman of SCCI; Lorenzo Fanara, Ambassador of Italy to the UAE, and Valerio Soldani, Director of the Italian Trade Agency (ITA) in Dubai.

Also present were Maryam Saif Al Shamsi, Assistant Director-General for the Support Services Sector at SCCI; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ibrahim Rashid Al Jarwan, Director of SCCI’s Economic Relations Department, and Jamal Saeed Bouzanjal, Director of Corporate Communication Department at SCCI.
Esteemed officials taking part in the event also included Marco Luongo, Deputy Trade Commissioner at the Italian Embassy’s Trade Promotion Office, along with representatives from leading Emirati and Italian companies specialising in construction, design, and architecture.

During the event’s plenary sessions, the Italian side put spotlight on the next edition of the International Trade Fair B-CAD (Building-Construction Architecture Design) which is scheduled in Rome from October 31 to November 2, 2024. A formal invitation was extended to the Chairman of the Sharjah Chamber to attend the event.

The sessions delved into exploring potential avenues of bilateral collaboration between the UAE and Italy in the construction and design sectors. Notably, the UAE is a key destination for Italian exports in interior design and furnishings, with exports totaling EUR 300 million in 2023, reflecting a 5.75 percent growth, with expectations for further increase this year.

Highlighting the ever-growing ties between both sides, Abdallah Sultan Al Owais affirmed that relationship between Sharjah’s and Italy’s private sectors now encompasses not only commercial activities but also the exchange of expertise, knowledge, and best practices in various fields, including sustainable design, which was the focal point of the Sharjah Chamber’s convention.

The event served as a platform for UAE businesses to exchange ideas and insights on the latest innovations and technologies in sustainable design and construction, leveraging the Italian experience in this field. This aligns with the ongoing development and progress the UAE’s construction sector is currently witnessing amid the country’s dedication to promote sustainability as a key pillar of growth

Al Owais further noted that the Sharjah Chamber continues to support events that foster investment relations and promote strategic projects across various sectors, including construction.

For his part, Lorenzo Fanara, Ambassador of Italy to the UAE, emphasised his country’s commitment to enhancing trade and investment relations with Sharjah at private sector level, driving them to the most prosperous heights.

Commending Sharjah’s economic and urban progress, Lorenzo Fanara expressed the Italian Embassy’s readiness and eagerness to collaborate with the Sharjah Chamber across multiple domains. This cooperation aims to strengthen bilateral ties, solidify mutual benefits, and support the business communities of both countries.

Marco Luongo, Deputy Trade Commissioner at the Italian Embassy’s Trade Promotion Office, said that the B-CAD Emirates Convention offers a valuable platform to strengthen collaboration between Sharjah and Italy in the field of innovation and sustainable technology within the real estate sector. It also facilitates the exchange of expertise and the best practices related to sustainable technology which are pivotal in reshaping the construction industry.

He noted that environmental sustainability has become a priority for the Italian building and construction sector. The Italian green construction market is experiencing substantial growth; as it is on track to reach a value of $187.4 billion by 2027, with an annual increase rate of 8.6 percent.

Highlighting Italy’s deep expertise in sustainable construction, Marco Luongo pointed out that Italy ranks ninth among the top 10 leading countries in Energy and Environmental Design, the most widely used green building rating system worldwide, in 2022.
The B-CAD Emirates Convention 2024 is held in partnership with the international fair B-CAD (Building-Construction Architecture Design) and was organised by Social Net Srl of Italy at Expo Centre Sharjah in 2023.

This year’s Convention featured several discussion sessions and presentations, which highlighted the importance of exploring the latest innovations in sustainable design, exploring the latest innovations in sustainable design, in line with the continuous construction development and innovations witnessed in Sharjah and the UAE.

Key topics included environmental sustainability and innovation in building design, fostering the exchange of expertise and best practices in sustainable construction, architecture, and design.

ABU DHABI, 29th May, 2024 (WAM) — The third edition of the Make it in the Emirates (MIITE) Forum and exhibition, organised by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC, concluded on Tuesday.

The two-day event in Abu Dhabi was attended by six thousand investors, industrialists, innovators and experts and featured 200 leading companies and financial institutions in the UAE.

The third MIITE Forum witnessed five strategic announcements, including an additional AED 23 billion worth of procurement opportunities for local manufacturing, raising the total value generated by the three editions of the forum to AED 143 billion, comprising more than 2,000 products. This includes AED 20 billion allocated by ADNOC, and AED 3 billion by PureHealth.

During the forum, AED 20 billion worth of new investments in industrial projects were announced, alongside competitive electricity prices for industrial companies in Ajman, Ras Al Khaimah, Umm Al Qaiwain, and Fujairah under a partnership between the Ministry of Energy and Infrastructure and the Etihad Water and Electricity.

The event a marked the introduction of AED 1 billion in solutions via a co-lending financing between Emirates Development Bank (EDB) and commercial banks to empower industrial companies.

The event also launched the AI Innovation Programme, an initiative designed to support startups on AI integration which is backed by EDB with a AED 370 million fund.

The third MIITE Forum showcased the achievements of local industrial companies, along with the incentives that bolster and attract industrial investments to the country. It highlighted the country’s support for the local manufacturing of essential products and materials.

The exhibition that accompanied the forum showcased 300 products that came as a result from Make it in the Emirates initiative, National ICV-Programme, and import substitution efforts by national and international companies. These included innovative solutions designed to support the development of the industrial sector and boost food security.

The forum underscored the pivotal role of AI as a cornerstone of the country’s strategic direction and in raising efficiency, productivity, and competitiveness.

The forum further cemented the UAE’s position as a key global platform for collaboration among institutions, companies, and financial institutions. The third edition witnessed the signing of 82 MoUs and agreements between government entities and leading industrial companies.

The forum featured the launch of Transform 4.0, a programme aiming to accelerate the adoption of advanced technology in industry through developing a roadmap for 100 industrial companies. This initiative aims to enhance the competitiveness of national industries, elevate productivity, improve operational efficiency, and foster sustainable growth opportunities. Ultimately, it aims to support the digital economy by leveraging knowledge, technology, and innovation.
The Ministry announced the three winner of Make it in the Emirates Start-Up Pitch Competition covering the two categories of additive manufacturing and decarbonisation.

The forum supports sustainable economic development and promotes self-sufficiency, localisation and resilience in value chains, particularly by driving the adoption of advanced technology, Fourth Industrial Revolution solutions and AI applications. Furthermore, the forum serves as a platform for empowering Emirati talent in the industrial sector.