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Health

Hamdan bin Rashid Al Maktoum Foundation Reveals Refreshed Corporate Identity for Medical and Educational Sciences

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The Hamdan bin Rashid Al Maktoum Foundation for Medical and Educational Sciences revealed its updated corporate identity at an event hosted at the Hamdan bin Rashid Al Maktoum Majlis in Zaabeel, Dubai. The ceremony, presided over by Sheikh Rashid bin Hamdan bin Rashid Al Maktoum, Supreme Chairman of the Foundation, and Sheikh Saeed bin Hamdan bin Rashid Al Maktoum, President of Hatta Sports Club, was attended by dignitaries, board members, government officials, guests, media representatives, and foundation staff. Dr. Khalifa Al Suwaidi, the Secretary-General and CEO of the foundation, inaugurated the event with a welcoming speech, delving into the significance and symbolism of the new identity. A concise video highlighting the institution’s history and the medical award set the stage for the unveiling of the new logo. Dr. Khalifa Al Suwaidi expressed satisfaction with the foundation’s revamped corporate identity, stating, “We are pleased to announce the new corporate identity of the foundation, enriched by the generous patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the thoughtful attention of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.” He acknowledged the steadfast commitment of Sheikh Rashid bin Hamdan Al Maktoum to perpetuate the noble initiative in advancing medicine and education. Highlighting the achievements of the foundation over the past 25 years through its initiatives, Dr. Khalifa Al Suwaidi attributed the success to the late Sheikh Hamdan, government empowerment, collaboration with partners, and positive audience response. He affirmed the foundation’s commitment to delivering optimal support in alignment with government directives and pledged to provide premier services and solutions to the medical and educational sectors. Dr. Khalifa Al Suwaidi emphasized that the new identity, including the logo and strategic system, mirrors the goals and aspirations for the upcoming phase. Under the leadership of Sheikh Rashid bin Hamdan and the esteemed board of trustees, the foundation aims to successfully realize these objectives.

Health, Uncategorized

DHA Pioneers Inaugural Accredited Medical Education System in the Private Sector

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The Dubai Health Authority (DHA) has introduced the inaugural accredited educational system in the private health sector within the Arab world, sanctioned by the Arab Board for Health Specialisations. Awad Al Ketbi, Director-General of the DHA, received the accreditation shield from Dr. Omar Al Rawas, Secretary General of the Arab Board of Health Specialisations. Within this pioneering system, DHA has identified 30 specialized programs, set to be implemented in 24 hospitals and medical centers during the initial phase, with the goal of providing 126 training opportunities for young doctors. In the initial phase this year, DHA has concentrated on key specialties, including family medicine, internal diseases, general surgery, pediatrics, obstetrics and gynecology, orthopedics, ophthalmology, and a sub-program in fertility medicine. Notably, the fertility medicine program is the first to receive accreditation from the Arab Board for Health Specialisations. The list of approved hospitals and centers in the first phase includes American Hospital, Saudi German Hospital, Fakeeh University, King’s College, Prime Al Garhoud, Medcare Medical Group, Moorfields Eye Hospital, Barraquer UAE Eye Hospital, Gargash Hospital, Fakih Fertility Center, Orchid Specialized Center, and ART Fertility Clinics, among others. Al Ketbi emphasized the significance of this initiative, aligning with the vision to advance medical education in the emirate and keep pace with healthcare development. He underscored DHA’s commitment to medical education and training, recognizing it as pivotal for cultivating expertise and supplying the health sector with distinguished medical competencies. Dr. Marwan Al Mulla, CEO of the Health Regulation Sector, highlighted DHA’s focus on providing a supervisory and administrative structure for residency and fellowship programs in Dubai. This ensures compliance with local, regional, and international accreditation standards, aiming to enhance educational outcomes and ensure the availability of suitable educational and clinical resources. Dr. Wadeia Mohammad Sharief, Director of the Medical Education and Research Department at DHA, emphasized the importance of investing in training opportunities to expand residency and fellowship programs. This initiative addresses the gap between the increasing number of medical college graduates and the essential specialization opportunities for their professional growth, contributing to the advancement of medical training and continuous medical education.

Health

UAE Unveils $220 Million Grant to Enhance Youth Healthcare in Africa’s Health Sector

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UAE Minister of State, Sheikh Shakhboot bin Nahyan Al Nahyan, Unveils $220 Million Grant for African Health Sector at COP28 Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, announced a new financial grant of US$220 million from the UAE for the health sector, aimed at improving healthcare for the youth in Africa. This revelation occurred during his participation in the “Investing in health for today and tomorrow” event, held on the sidelines of the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) at Expo City Dubai. The UAE’s substantial investments are poised to fortify health systems, fostering adaptability to climate change and providing efficient health services for Africa’s youth. The financial support is geared towards enhancing the capabilities of African youth, empowering them to contribute to the development of their communities and countries. In his keynote speech at the event, Sheikh Shakhboot bin Nahyan Al Nahyan emphasized the significance of investing in youth, citing their potential as a crucial factor for the continent’s prosperity. With over 60 percent of Africa’s population being under 25 years old, he stressed that quality health and educational services, coupled with learning opportunities, are essential for securing a prosperous future for the continent. This initiative underscores the UAE’s acknowledgment of the pressing need to invest in the health of Africa’s youth, aligning with the nation’s commitment to sustainable development and ongoing partnerships with African countries. The grant reflects the UAE’s dedication to supporting the developmental endeavors of nations across Africa.

Health

Dubai Healthcare City Authority Partners with ‘The DataFlow’ to Introduce Exclusive Platinum Verification Services

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Dubai Healthcare City Authority (DHCA), the overseeing entity for the Dubai Healthcare City (DHCC) free zone, has forged a collaboration with The DataFlow Group, a prominent leader in Primary Source Verification (PSV). This partnership aims to introduce an exclusive platinum service tailored specifically for the DHCC community, aiming to facilitate and streamline the professional licensing process. Through this alliance, DHCA seeks to provide valuable benefits to registered healthcare facilities and professionals within DHCC by simplifying their access to The DataFlow Group’s verification services, which are imperative for licensing healthcare professionals in Dubai. The distinctive service guarantees an unprecedented level of customer service, managing the verification process comprehensively through The DataFlow Group’s team of experts. Members of the DHCC community can avail themselves of a convenient doorstep service, encompassing collection, upload, payment, process tracking, and report delivery. This ensures a swift and seamless verification process for the DHCC community. Allae Almanini, Chief Financial Officer of DHCA, expressed, “We aspire to empower our partners in navigating challenges effortlessly by offering comprehensive end-to-end support services. The collaboration with The DataFlow Group underscores our dedication to ensuring the success and satisfaction of our esteemed business partners, thereby contributing to a dynamic and thriving partnership ecosystem.” As part of this collaboration, The DataFlow Group will establish a dedicated counter within Masaar Government Services, DHCC’s customer service solution center. This initiative aims to provide a smooth licensing experience and enhance the all-encompassing service approach that DHCA is committed to offering its community. Sunil Kumar, CEO of The DataFlow Group, commented, “This strategic partnership leverages our new Platinum Service, ensuring an optimized and streamlined verification process for healthcare professionals in DHCC. It delivers a superior ‘at your doorstep’ experience, highlighting our commitment to providing an unmatched customer experience, ensuring excellent support for the DHCC community, and collaboratively working towards sustained success and prosperity.”

Culture

Dubai Culture and Watani Al Emarat sign MoU to strengthen national identity

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The collaboration also aims to organize a series of educational and training programs to promote authentic Emirati heritage and values. This MoU aligns with the commitment of both parties to preserve and instill national identity in the community and contribute to spreading concepts and foundations supporting national loyalty and citizenship values in society. The MoU reflects the keenness of Dubai Culture and Watani Al Emarat Foundation to achieve Dubai’s visions and aspirations by exchanging best practices and institutional experiences. It also emphasizes the activation of communication and collaboration channels, confirming their strategic partnership and integrated efforts to raise the quality of life and instill a culture of national loyalty in future generations. Muna Faisal Algurg, CEO of the Culture & Heritage Sector at Dubai Culture, affirmed that the partnership with Watani Al Emarat Foundation reflects the Authority’s efforts to consolidate national identity in the hearts of future generations, preserve heritage, and expand the presence of Emirati culture worldwide as well as Dubai Culture’s commitment to the ‘Principles of the 50’ that promote the values of cultural respect and national identity through openness and tolerance, stating: “Through its diverse projects and initiatives, Dubai Culture is dedicated to deepening social cohesion and highlighting society’s cultural and humanistic aspects, strengthening the sense of belonging to the homeland. We are also actively enhancing the global presence of Emirati heritage and raising public awareness, which falls within our cultural responsibility, a cornerstone of the sectoral priorities within our strategic roadmap.” HE Dherar Belhoul Al Falasi, Executive Director of Watani Al Emarat Foundation, said: “We are delighted to announce our agreement with Dubai Culture, marking a significant step towards enhancing mutual cooperation and establishing channels for the exchange of knowledge and expertise. This collaboration aligns seamlessly with our shared vision and concerted efforts to preserve our national identity, improve awareness of Emirati heritage and culture and foster values of belonging and positive citizenship within our society. This partnership serves as a comprehensive framework for our joint initiatives, encompassing the organisation of events, activities, research programs and training aimed at raising awareness on the authentic aspects of Emirati culture. Our primary goal is to deepen the connection of successive generations with our national heritage. At Watani Al Emarat Foundation, we eagerly anticipate the continued development of this collaboration with Dubai Culture and other prominent national institutions. We firmly believe in the collective power of efforts and institutional cooperation to fortify our dedication to national identity and foster community participation.”

Aviation

Dubai’s Emirates becomes world’s first to operate an A380 test flight using 100% SAF

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The flight was powered by 100% SAF in one of four engines to test performance Dubai airline Emirates completed an Airbus A380 demonstration flight last week using 100 per cent sustainable aviation fuel (SAF), making it the first airline in the world to do so. WHAT WAS THE FUEL USED? The 100% drop-in SAF used on today’s flight includes renewable aromatics and closely mimics the characteristics of conventional jet fuel. This is the first time that drop-in SAF has been used on an A380 aircraft, with the expectation of full compatibility across the aircraft’s existing systems. The flight carried four tonnes of SAF, comprised of HEFA-SPK provided by Neste (hydro processed esters and fatty acids synthetic paraffinic kerosene) and HDO-SAK from Virent (hydro deoxygenated synthetic aromatic kerosene). ENOC helped to secure the neat SAF comprised of HEFA-SPK, and blended it with Sustainable Aviation Kerosene (SAK) at its facility in Dubai International Airport ahead of the demonstration, and also carried out into-plane services. According to Adel Al Redha, Chief Operating Officer of Emirates Airline, the test flight conducted today paves the way for future standardization, qualification and adoption for 100 per cent SAF flying. He said, “Emirates is the first passenger airline in the world to operate an A380 with 100 per cent drop-in SAF (sustainable fuel blended with conventional fuel) powering one of four Engine Alliance GP7200 engines.” Al Redha said the test also marks a significant step in validating the use of SAF in one of the engines of the A380, a wide-body aircraft with four engines. This is the first time drop-in SAF (sustainable fuel blended with conventional fuel) has been used on an A380 aircraft, with the expectation of full compatibility across the aircraft’s existing systems. Large-scale manufacturing Al Redha said, “Now that we have completed this test, the next step would be to ensure the availability of the fuel in various airports. We rely on fuel suppliers to start manufacturing and producing such fuel in the required volume, and that will be the challenge.” The growing global demand for lower-emission jet fuel alternatives is there, said Al Redha. “However, the work of producers and suppliers to commercialize SAF and make it available will be critical in the coming years,” he explained. This will help Emirates and the wider industry advance the path to cutting emissions. Earlier this year, Emirates completed the first 100 per cent SAF-powered demonstration flight in the region on a GE90-powered Boeing 777-300ER, and last month, the first Emirates flights operating with SAF provided by Shell Aviation took off from Dubai International Airport (DXB). Shell supplied 315,000 gallons of blended SAF for use at the airline’s hub in Dubai. The airline recently expanded its partnership with Neste to supply over 3 million gallons of blended SAF in 2024 and 2025 for flights departing from Amsterdam Schiphol and Singapore Changi airports. Emirates currently uplifts SAF in Norway and France. The test flight also comes against a backdrop of the third International Civil Aviation Organization (ICAO) Conference on Aviation and Alternative Fuels (CAAF/3), where members of the aviation industry, international organisations, regulatory bodies and high-level officials are driving policy-related decisions related to the adoption of SAF.

Aviation

Dubai’s vision for advanced aerial mobility accelerates its sustainability agenda

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Dubai has always believed in proactively preparing for the future and setting in place strategies to address forthcoming challenges. Sustainability is one of the dominant themes underpinning every aspect of development in the emirate today, from urban planning to utilities to public transport. It is no surprise then that Dubai has been among the first cities in the world to pilot air taxis and chart their future growth with visionary planning and infrastructure development. Aerial taxis are expected to feature prominently in discussions on sustainable aviation and net zero emission targets at the 2023 edition of the Dubai Airshow under the theme ‘The Future of the Aerospace Industry’, prominently featured the soaring market for advanced aerial mobility (AAM) and urban air mobility (UAM) solutions. Aerial mobility pioneer While the deployment of aerial taxis is part of Dubai’s agenda for adopting cutting-edge innovation, the emirate also places high priority on the new technology due to its significant potential for advancing sustainable urban transportation. In the broader aviation industry, carbon dioxide (CO2) emissions could climb sharply to anywhere between 25% to 30% by 2050 in the absence of credible alternatives given the soaring demand for air travel, predicts a report by Frost & Sullivan titled ‘Sustainable Technologies in Aviation’. By taking cars off the road and reducing traffic congestion, aerial taxis can contribute significantly to addressing environmental challenges. According to some estimates, flying taxis have the potential to reduce greenhouse gas emissions by up to 80% compared to traditional cars. The AAM market globally is projected to reach $16.8 billion in 2025, expanding significantly to $110 billion by 2035. This translates into a compound annual growth rate (CAGR) of approximately 21.7%. The Dubai Airshow seeks to provide regional and international players a platform to explore futuristic technologies that are bound to revolutionize air travel. Dubai, being the trendsetter it is, has been among the first movers in the context of AAM innovation and infrastructure planning. Earlier this year, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced plans to launch air taxis in Dubai in just over three years. The initiative will see vertiports spring up across the city as part of an air mobility infrastructure network designed for the future. Providing the AAM industry still more impetus, the UAE General Civil Aviation Authority (GCAA) and the Mohammed bin Rashid Aerospace Hub (MBRAH) have joined hands to establish the world’s first AAM integrator world center in Dubai. The development of the world’s first-ever vertiport certification process and strengthening Dubai’s global standing in the AAM sector would also come under the ambit of the project. Early bird As far back as 2017, Dubai conducted a test flight of a driverless flying vehicle that at the time gained instant attention as the world’s first self-flying taxi service set to be introduced by Dubai’s Roads and Transport Authority (RTA). Spelling out Dubai’s will to make things happen, HH Sheikh Mohammed bin Rashid tweeted during the World Government Summit held in Dubai: “We approved today the design of the new air taxi stations in Dubai, which will start operating within three years.” Dubai’s Roads and Transport Authority (RTA) has worked on a conceptual design of aerial taxi vertiports. His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of the RTA, explained that the vertiports will feature designated take-off and landing zones in addition to a passenger waiting area and electric charging stations. There will also be required security protocols to comply with the applicable security policies and laws. “In line with Dubai’s vision for future technologies, the adoption of advanced aerial mobility technologies is a testament to our commitment to transforming urban mobility as well as ushering in a greener future. Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we are investing in a technology-rich future that is sustainable, efficient and interconnected. This is aligned with our broader vision for Dubai, as outlined in the Dubai Economic Agenda D33 to transform the city into one of the world’s top three urban economies. The integration of aerial taxis into our urban infrastructure will create a cohesive, multimodal transportation network that demonstrates Dubai’s readiness to embrace new technologies while keeping sustainability and the wellbeing of its residents at the forefront,” His Excellency said. When ready, the new infrastructure will make Dubai the first city in the world with a fully developed network of vertiports. Capable of achieving top speeds of 300 km/hr and a maximum range of 240 km, the aerial taxis would accommodate four passengers in addition to the pilot. Currently we are working with the right investor who is capable of building the infrastructure required for the air mobility industry, Al Tayer added. Initial networkThe initial network of vertiports is expected to connect four main areas of Dubai, namely Downtown Dubai, Dubai Marina, Dubai International Airport and Palm Jumeirah. The task of devising a comprehensive framework for introducing aerial taxis has been left to the RTA, which would also identify take-off and landing sites, besides framing protocols for safe and efficient operations. “The regulatory and safety aspects of aerial taxi operations will be studied at length and a clear framework evolved well in advance to deliver path breaking services while ensuring the highest level of public satisfaction,” Al Tayer added.

Tax News

UAE Corporate Tax: Big relief for commodity traders in free zones

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Commodity businesses at free zones will be much pleased with latest corporate tax updates A big relief has been provided to commodity traders operating from free zones that have not been deemed ‘designated zones’. Income derived from trading of ‘qualifying commodities’ with non-free zone persons (domestic or overseas) would also be eligible for 0 per cent tax rate. Qualifying commodities means metals, minerals, energy and agriculture commodities traded on a recognized commodities exchange market – in the UAE or overseas – in raw form. It applies to physical trading activities of such commodities and associated derivative trading used to hedge against risks involved in such activities. Qualifying intellectual property Income from the ownership or exploitation of all intellectual property assets was earlier specifically excluded from 0 per cent rate. Under the revised decisions, a certain portion of the income derived from the ownership of ‘Qualifying Intellectual Property’ is eligible for 0 per cent rate. Qualifying IP includes patents and copyrighted software. Any other rights that are functionally equivalent to a patent are also included. (For example, utility models, IPR for plants and genetic material, orphan drug designations, and extensions of patent protections.) However, any marketing related IPR – such as trademarks – would not be eligible. The proportion of the expenses incurred to fund R&D activities directly connected with the creation, invention or significant development of such qualifying IP – along with a deemed ‘uplift expenditure’ – will determine how much income from qualifying IP could enjoy 0 per cent rate. Clarity on adequate substance Maintaining ‘adequate substance’ is an important compliance requirement to claim 0 per cent tax rate. Adequate substance requires conducting core income-generating activities (CIGA) and maintaining adequate assets, a certain number of employees and incurring operating expenditure. Core income-generating activities mainly consist of those functions that drive the business value and are not mostly support activities. It requires an adequate number of qualified full-time employees. The adequate substance should be maintained in such free zone – or a designated zone – where the qualifying activity is required to be conducted. Even the third-parties to whom core income-generating activities could be outsourced should meet this location condition. Points to ponder Income from headquarter services to related parties – eligible for 0 per cent – has now been explained in detail. ‘Headquarter services’ includes the administering, overseeing and managing of business activities of related parties, including the provision of senior and general management, captive insurance services, administrative services, procurement services, business planning and development, risk management, coordination of group activities, and in general incurring expenditures on behalf of related parties and providing other support services to related parties. The ‘headquarter services’ should be treated carefully. Apart from the anti-abuse rules, a question remains if a mainland company – otherwise ineligible for 0 per cent rate and/or operating mainland retail stores – could restructure its management activities (including owners’ salaries) into a separate free zone company. Similarly, free zone companies – otherwise ineligible for 0 per cent – should split their management activities into a separate free zone company. Even though transfer pricing will apply, the corporate group may be able to enjoy 0 per cent on a fair portion of its overall profits. The activity of distribution of goods or materials in or from a designated zone has been explained in detail, thereby addressing pertinent concerns of taxpayers. I have come across many interesting scenarios that still need careful evaluation – be it the distribution of equipment not intended for resale, ensuring that overseas customers are resellers, trading of goods that are not qualifying commodities, or third-port shipment sales. With more clarity available on free zone tax incentives, business owners need to ensure that they ask the right questions to optimize the tax impact and compliance requirements. Offset Paper ======================================= Indonesia (per Ream) ————————————— 23×36              75             12000 27×34              75             14000 25×35.5            75            13,400 30×40              75            18,150

Tech

DIEZ launches AED500 million venture capital fund designed to finance technology startups

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– In the presence of Ahmed bin Mohammed ..Dubai Integrated Economic Zones Authority launches AED500 million venture capital fund designed to finance technology startups – The new fund was launched on the sidelines of the Dubai Business Forum, organised by Dubai Chambers– Launched under the trademark Oraseya Capital, the fund will play a pivotal role in supporting startups from the pre-seed stage to the Series B investment stage Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Integrated Economic Zones Authority (DIEZ), announced the launch of a venture capital (VC) fund worth AED500 million. Launched in the presence of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, the fund is designed to finance technology startups and supports the economic objectives outlined in the Dubai Economic Agenda, D33 by promoting the growth of small and medium-sized enterprises (SMEs) in various emerging sectors. The new fund was launched on the sidelines of the Dubai Business Forum, which is being organised by Dubai Chambers under the patronage of HH Sheikh Mohammed bin Rashid. The fund is the first investment programme launched under the name of Oraseya Capital, the venture capital arm of DIEZ specializing in venture investment operations in startups. It will play a pivotal role in supporting startups, starting from the pre-seed stage, and extending all the way to the Series B investment stage. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said the launch of Oraseya Capital and the creation of a AED500 million VC fund for technology startups represents a strategic move that aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum to support the growth of Dubai’s digital economy sector. His Highness said: “This qualitative strategic initiative supports the efforts of DIEZ to enhance its contribution to Dubai’s economy and the growth of the SME sector, which is a vital segment of the economy and serves the overarching goal of achieving comprehensive and sustainable development. This will ensure the continued sustainability and progress of Dubai’s economy in the decades to come. “The establishment of this VC fund serves as a major boost for accomplished companies looking to build a global presence. It will play a pivotal role in strengthening Dubai’s status as a nurturing ground for the most innovative, advanced and creative enterprises worldwide. We are confident in the capabilities of the expert team at Oraseya Capital, who are well-versed in supporting startups in emerging sectors and cutting-edge technology. Our aim is to see these startups join the esteemed ranks of ‘unicorn’ companies, beginning their journey right here in emirate, a key player in shaping the global economy,” His Highness concluded. One of the fund’s core objectives is to address the existing gaps in corporate finance, particularly during these crucial developmental stages. The initiative reflects Dubai’s commitment to keeping pace with the world’s leading economies in the field of startup investment, recognizing the potential these companies hold for contributing to the growth, advancement and reinforcement of the national economy. DIEZ established Oraseya Capital to reinforce capability and competency building. The initiative is geared towards facilitating the global expansion aspirations of startups and making investments in cutting-edge technology. These endeavours collectively serve to strengthen Dubai’s status as a rapidly growing hub and an attractive destination for companies and enterprises alike. His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, leads the Board of Directors of this enterprise. Its members include specialists in financial funds, corporate establishment, business development, and investment consulting, each bringing over 15 years of experience in the startups field, specifically within the UAE and Dubai. Leveraging the extensive experience of DIEZ and its economic zones, spanning nearly a quarter of a century, brings added depth and perspective to this initiative. His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “The launch of DIEZ’s investment fund reflects Dubai’s growing position as a leading destination for investments and a global hub for financing technology startups. The Dubai Business Forum creates the ideal platform to announce ambitious initiatives of this kind that support the objectives outlined in the D33 agenda and advance the global economy.” Al Ghurair added: “We remain committed to achieving our strategic priorities by attracting international businesses and investments to Dubai and supporting the continuous growth of the digital economy. We greatly value DIEZ’s initiative, which represents an advanced step towards enhancing Dubai’s global competitiveness in attracting and financing technology startups.” His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “Oraseya Capital’s core values include effective engagement, support for modern technology and the cultivation of creative ideas. The emphasis is on fostering a collaborative ecosystem for innovative entrepreneurs to exchange ideas, knowledge and resources. This initiative prioritises adaptability by remaining open to new opportunities and contemporary technologies that align with the fund’s objectives. Integrity stands at the forefront, with a commitment to upholding the highest standards of transparency, all in service of supporting and financing technology companies at the emirate’s level. “The VC fund’s primary focus lies in the strategic investment of startups exhibiting substantial growth potential. Our goal is to empower entrepreneurs from various corners of the world to nurture and establish innovative enterprises. This endeavor is instrumental in strengthening Oraseya Capital’s standing as a premier venture investment company for startups, eagerly sought after by both entrepreneurs and investors alike, all of whom aspire to reshape the landscape and future of advanced technology sectors,” Dr. Al Zarooni added. Oraseya Capital has introduced its official website, providing a platform for business owners to submit financing applications to the VC fund. This initiative targets local companies within the city, as well as international enterprises seeking to establish their operations in Dubai.The VC fund excels at providing support to companies that are part of its investment portfolio by adopting a direct guidance approach and active participation to help companies ensure their

Uncategorized

A leader of exceptional caliber

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The President His Highness Sheikh Mohamed bin Zayed Al Nahyan In the heart of visionary leadership and unwavering commitment, His Highness Sheikh Mohammed bin Zayed Al Nahyan emerges as a beacon of inspiration, steering the course of progress with an indomitable spirit. A name synonymous with innovation, benevolence, and dynamic leadership, he stands tall as a guiding force in shaping the present and future of his nation. As the Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and now the President of the UAE, Sheikh Mohammed has steered the nation towards unprecedented heights. His vision for the UAE goes beyond skyscrapers and modernity; it encompasses a commitment to sustainable development, innovation, and social progress.  Born on March 11, 1961, Sheikh Mohammed is the third son of the late Sheikh Zayed bin Sultan Al Nahyan, from whom he acquired the invaluable lessons of governance and leadership. His leadership is characterized by a steadfast dedication to the nation’s illustrative journey, where he has not only made a difference locally but has also emerged as a global force for peace, security, and humanitarian endeavors. As a leader of exceptional caliber, Sheikh Mohammed has left an indelible mark at the local level, achieving notable milestones in the promotion of regional and global peace and security. His commitment extends to fostering tolerance and peaceful co-existence among diverse religions and societies, setting a commendable example for humanitarian work. His Highness Sheikh Mohammed bin Zayed Al Nahyan exemplifies the perfect blend of tradition and modernity. His dynamic approach to governance mirrors the dynamic landscapes of the thriving nation he leads. With foresight that spans beyond the horizon, he navigates challenges with grace, transforming obstacles into stepping stones for prosperity. A maestro of diplomacy, His Highness is not only a guardian of his nation’s interests but also a global statesman, fostering collaborations that transcend borders. His commitment to international cooperation reflects a vision that extends far beyond the Emirates, promoting unity and understanding on the world stage. Born into the esteemed Al Nahyan family, Sheikh Mohammed embraced a life of service and leadership from a young age. His commitment to education saw him graduate from the prestigious Royal Military Academy Sandhurst in the United Kingdom, instilling in him the principles of discipline and strategic thinking. His dedication to sustainability is evident in the bold pledge towards a green future. The UAE, under his guidance, has become a global leader in renewable energy, setting ambitious targets to achieve a balance between progress and environmental responsibility. The President has made sustainable socio-economic development a foundational pillar of the nation’s ambitions. Sheikh Mohammad ushered in a new era investment in renewable energy, research and technology and sustainable urban development through the creation of Masdar  in 2006. At the G20 Summit in Bali 2022, Sheikh Mohammad said that the UAE is committed to its responsible role in energy market. His efforts have also given rise to enhancing UAE’s position as a partner in countering the effects of climate change through the nation’s Net Zero by 2050 strategy in2021 and naming the UAE’s first climate envoy. Both COP28 and Expo 2020 Dubai share similar objectives: achieving sustainability and promoting international action as essential steps towards facing global challenges. In the tapestry of achievements woven by His Highness, his dedication to sustainable development stands out as a testament to his deep reverence for the environment and the well-being of future generations. Through pioneering initiatives, he sets an example for leaders globally, illustrating that progress and conservation can indeed walk hand in hand. Beyond the grandeur of his official duties, Sheikh Mohammed bin Zayed Al Nahyan is a champion of education and empowerment. His unwavering belief in the potential of the youth echoes in initiatives that nurture talent, fostering a generation equipped to lead with knowledge and compassion. In the mosaic of leadership, His Highness Sheikh Mohammed bin Zayed Al Nahyan stands as a vibrant brushstroke, painting a picture of resilience, compassion, and progress. His dynamic legacy continues to unfold, leaving an indelible mark on the sands of time, and inspiring leaders and dreamers alike to reach for the stars. In times of challenge, Sheikh Mohammed’s leadership has been unwavering. Whether navigating global crises or steering the nation through economic transformations, his resilience and strategic foresight have been instrumental. In the dynamic tapestry of his leadership, His Highness Sheikh Mohammed bin Zayed Al Nahyan emerges as a multifaceted leader, weaving together the threads of innovation, diplomacy, sustainability, education, and compassion. As the UAE charts a course into an ever-evolving future, it does so under the dynamic guidance of a leader whose vision knows no bounds, and whose impact resonates far beyond the Arabian horizon.

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