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.

• 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.

• 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.