RAK Business Magazine, Issue (18), 2023

RAK Business issued by Ras AlKhaimah Department of Economic Development to support and develop the business environment and highlight best practices in Ras Al Khaimah.

SUPERVISION

SH. Mohamed bin Kayed AlQasimi

EDITOR IN CHIEF

Dr. Abdulrahman Alshayeb Alnaqbi

MANGAGING EDITOR

Aisha Obaid Alayyan

EDITORS

Nathan Hunter Nebras Shafik AboZidan Mayyasa Sultan AlKendi

NEW GENERATION TEAM

Khawla Ibrahim Abdulaziz Alelewi

Zina Abboud

Zainab Shieha Dareen Abu AlKheer Maher Safyeldin

The topics mentioned express the opinion of its author, and do not necessarily represent the opinion of the Department of Economic Development in Ras Al Khaimah. Despite efforts to investigate accuracy, the magazine does not accept responsibility for any errors in the information provided.

VISION: Ras Al Khaimah to be the preferred destination for doing business.

MISSION: Organizing economic activities and augmenting efforts for business growth and sustainability in a competitive environment that achieves sustainable economic development in the Emirate.

STRATEGIC OBJECTIVES:

• Promote diversified and sustainable economic growth

• Contribute to the organization of the business sector according to the global standards.

• Developing the services provided to clients, strategic partners and the business community.

• Expanding and enhancing the institutional efficiency of institutional support services and excellence and boosting the culture of creativity and knowledge.

INSTITUTIONAL VALUES:

• Positive Citizenship: Taking responsibility and meeting all customers’ needs and beyond- If possible.

• Institutional happiness: Continuously strive to win the happiness of our employees, customers, partners, and community.

• Creativity and Innovation: We want our employees to take initiative with every new, creative and innovative idea.

• Integrity and Transparency: We deal transparently with all stakeholders within an integrated institutional governance framework.

• Sharing Knowledge: One team with unified knowledge we all share.

Dr. AbdulRahman Al-Naqbi

REPERCUSSIONS OF RUSSIAN-UKRAINIAN WAR ON GLOBAL ECONOMY

The Ukrainian-Russian war is still raging, having more repercussions. A war that brought the world to an economic crisis with varying degrees of severity and impact on countries and economies; based on the degree of dependence on one of the conflicting parties and the main products it provides to these countries.

Russia is the third largest energy producer of oil and natural gas in the world, in addition to fertilizers, while Ukraine is the breadbasket for itself and the world for products of wheat, sunflower oil and barley.

With the continuation of this war, its costs increase. It has become a burden that directly and indirectly drains both the countries involved and the countries consuming the products of the two conflicting parties. The Organisation for Economic Co-operation and Development has estimated the cost of war in Ukraine and its impact on the global economy at about $2.8 trillion by the end of this year, in addition to the rise of energy prices. This weakened household spending and business confidence, exacerbated disruptions in supply chains, caused shortages of food and other needs, and shook markets worldwide.

Given what Ukraine previously produced, the impact of the war on it and other countries is massive. It had 30% of the world's sunflower oil, 6% of barley, 4% of wheat and 3% of corn. Reaching no solutions to the war, the possibility of a production decline is estimated by the Organization to increase between 10% to 35%. These percentages will increase depending on the war turning points towards ramping up confrontation or reaching a settlement. Energy prices increase, causing food production to rise due to agriculture and transportation becoming less affordable. Since the start of the war, wheat prices have jumped by about 30%, the price of sunflower oil by about 50%, and the global cost of fertilizers has increased by 230%.

Fertilizers are one of the leading causes that warn of a rise in food prices or a decrease in productivity. The reason is that the proportion of fertilizers exported for developing and augmenting agricultural production has been decreased. Russia is the largest exporter of nitrogen fertilizers.

Russia and Belarus – the close allies - are top exporters of potash production, which is a key ingredient in many fertilizers. Potash supplies from both countries have been affected due to sanctions and the halting of exports by the Russian government.

The ability of countries to withstand such global turmoil varies, but there is no doubt that developed countries are better able to absorb high prices and find alternative solutions, such as creating new sources of food, unlike developing countries, which will suffer more.

Nevertheless, what we are currently witnessing in terms of demonstrations, work stoppages, high rates of inflation / interests, and business bankruptcy / closures, even in developed countries, shows that the impact has reached the greatest extent.

There is no doubt that the sound of war is still loud, and expectations indicate further deterioration of the current situation. However, we hope that everyone will heed the many calls for peace from all over the world.

CONTENTS

Issue No. 18 DEC. 2022 JAN. 2023

06 PANORAMA

Tariq Mohammed bin Saif

A safe environment is the most important component of investment and development

12 “Hemaya” achieved the balance between police sustainability and economic development, and thus enhanced the ideal of Ras Al Khaimah as a destination for living and working.

Iraq... One of the main trading partners of the UAE 16 Iraq ranks the 17th of the Ease of Doing Business report in the Middle East Countries.

PANORAMA

H.H. SAUD BIN SAQR AL QASIMI UNDERLINES IMPORTANCE OF ACCURATE DATA IN DECISION-MAKING AND POLICY

His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, asserted that: “Building the future begins with an in-depth and accurate understanding of our reality, where we use scientific method and aggregate precise field data to outline the community’s needs and requirements.”

H.H. Sheikh Saud’s comments were delivered via a video message recently as Ras Al Khaimah Statistics Center announced that the field operations for the General Population, Housing and Establishments Census Project will be conducted across the Emirate starting from November 1, 2022.

H.H. Sheikh Saud went on to note: “In recent years, we have been able to achieve tremendous progress and we have reaped the rewards of these successes in all facets of our lives. We seek to consolidate these achievements and build an even brighter future, one that surpasses the aspirations of the people of Ras Al Khaimah. “We are confident that this project will contribute to achieving our comprehensive development objectives by providing statistical data to authorities across the Emirate, enabling each to formulate plans and policies that will enhance quality of life for everyone in the Emirate. The success of this vital project requires a concerted effort, and

the cooperation of all members of our society, for the good of our Emirate.”

H.H. Sheikh Saud concluded by underlining the importance of accurate data in decision-making and policy formulation.

“And with that in mind,” H.H. Sheikh Saud asserted, “we have issued directives to launch the General Population, Housing and Establishments Census Project 2023, as part of our ambitious Ras Al Khaimah Vision 2030 and implemented by Ras Al Khaimah Statistics Center.”

Field operations for the Census will be

conducted in two phases to ensure that all geographical areas of the Emirate are covered and all residents are counted.

The Census has adopted a comprehensive and well-tested integrated modern technology to enable accuracy and make the results available within a remarkably short period of time.

In line with the Statistics Act, data collected at all levels – individual, household and business establishment – will be confidential and not revealed under any circumstances

gateway

The Department of Economic Development in Ras Al Khaimah through its official social media accounts revealed the launch of the “RakPay” e-payment portal through which services will be collected through the new payment gateway system of the Government of Ras Al Khaimah, with the suspension of business With the “e-Dirham” card in Ras Al Khaimah government. The department explained that the collection of services will be activated through the new payment system of the Ras Al Khaimah government through channels that include the “RackPay” portal, credit cards “Visa and MasterCard” and digital wallets “Apple, Samsung and Google”, in addition to payment by direct debit from the bank account. And bank transfers, and to recover the remaining balance on the e-Dirham card,

customers can contact the card issuing banks. The launch of the RAKPay portal by the Department of Economic Development in Ras Al Khaimah comes after the end of the extension of the suspension of the working system in the dirham according to the instructions of the Ministry of Finance.

RAKDED launches the “Instant License”

The Department of Economic Development in Ras Al Khaimah launched the “Instant License” service, which enables investors and entrepreneurs to issue a commercial license immediately without the need to attach the Memorandum of Association or the lease contract for the site.Amina Qahtan Al-Shehhi, Acting Director of Commercial Affairs, said that the immediate license includes 828 economic activities without the need for prior approvals from other government agencies. This license is characterized by 50% lower costs than the regular license fees.

Based on the Ras Al Khaimah Transport Authority’s strategic directions to provide smooth and safe transportation services that meet the needs of all segments of society, RAKTA launched the Saqr Gold Card to serve people of determination by providing free public bus transportation, as RAKTA believes in its role in supporting community initiatives to integrate people of determination into various public transport services and encourage them to experience unique mobility through the means of transport available in the Emirate of Ras Al Khaimah.

The SME Edition of RAK Energy Innovation Competition (#rakinnovates) offers an opportunity for start-ups and SMEs from around the world to get market exposure and form strategic partnerships in the power, water and industrial sectors in the UAE. Shortlisted start-ups and SMEs will be invited for discussions with a large executive panel, comprising top managers from leading government entities and multinationals.

“Ras Al Khaimah Economy” launches “RAKPay” electronic payment

RAKTA launches Saqr gold card for people of determination’

RAK Municipality launches the SME Edition of RAK Energy Innovation Competition

Brigadier General Tariq Mohammed bin Saif Deputy Director General of Police Operations at the General Command of Ras Al Khaimah Police

“Hemaya” was the result of out-of-the-box thinking to find innovative solutions for “culprit unknown” reports, and everyone showed their cooperation and solidarity with the police in implementing this initiative.

bin Saif

A SAFE ENVIRONMENT IS THE MOST IMPORTANT COMPONENT OF INVESTMENT AND DEVELOPMENT

BY/ KHAWLA IBRAHIM

His Excellency Brigadier General Tariq Mohammed bin Saif, Deputy Director General of Police Operations at the General Command of Ras Al Khaimah Police, stressed that the “ protection system software “Hemaya” it aims to tighten the security of facilities, shops, companies, and vital locations to protect them from the potential danger of unknown and other crimes. It also prevents any “unknown criminal activities” within the framework of RAK GOV objectives and strategic directions, significantly reducing crimes and raising the sense of security index in the Emirate since its launch. This was stated in his interview with RAK Business magazine, the full text of the dialogue is here:

How did the idea of creating a “Hemaya” system transpire? And what was the reaction of business owners of all levels?

The idea of establishing a protection system “Hemaya” was formed from the fact that the Emirate’s society is affected by the demographic and societal structure, which is the most essential characteristic of multiculturalism and its differences. Therefore, it was necessary for the Police, the security agency responsible for upholding the law to enhance security and safety in society, to search for the best solutions.

This move shall reduce the negatives that arose because

of societal diversity. As “solutions come from the womb of suffering,” due to complaints received by the Police included reports of “Culprit Anonymous,” which required us to think outside the box and come up with new and distinctive ideas to remedy Remedial to the problem of reports “Culprit Anonymous” that troubled the policemen. The efforts have culminated in a decree from His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council of the Federation and Ruler of the Emirate of Ras Al Khaimah - may God protect him, which contributed to preserving and strengthening security in the Emirate. The implementation went unchallenged, and everyone showed their cooperation and solidarity with the police officers in collaboration with the Public Resources Authority and some other parties to protect lives and property.

What is the mechanism of the ““Hemaya” System”? What about the approved standards for installing and using cameras, and how are these standards developed over time?

The “Hemaya” system operates according to its legal executive regulations.

The process of installing cameras is carried out under approved professional and technical specifications and

The“Hemaya” system achieved the balance between police sustainability and economic development, and thus enhanced the ideal of Ras Al Khaimah as a destination for living and working

Brigadier General Tariq Mohammed

standards of high quality and efficiency that enable police agencies to detect and identify committed criminal behavior. Standards are developed through coordination and cooperation between the General Command of Ras Al Khaimah Police, the Public Resources Authority, and several other entities, such as the American University in Ras Al Khaimah, which holds specialized training courses for service providers, the total number of which has so far reached more than (100) trained and qualified service providers practically and legally, which achieved parity in managing the work of the “Hemaya” system.

The Emirate of Ras Al Khaimah is one of the safest cities in the world and a unique place to live, reside and work. During the year 2021, safety and security reached 98.1%.

How does “Hemaya” contribute to strengthening the security system and promoting the Emirate as an ideal destination for living and working?

The “Hemaya” system has augmented and strengthened the security apparatus. It has also promoted the Emirate as an ideal destination for living and working. Additionally, the system served as an added value to the Police’s efforts and presence, security personnel, and military and civilian patrols who work day and night to enhance and spread security and confront every outlaw. According to landlords and business owners registered under the “Hemaya” system, many have praised the system’s positive role in reducing disturbing and unresolved crimes.

How does Hemaya support police and security efforts in the Emirate and enhance security and safety? How complementary is your role and the role of Ras Al Khaimah Police in this field?

The “Hemaya” system supports police efforts by providing data of no less than (9,000,000) nine million reported hours. Thus, it supports police work in training, security control, and obtaining accurate data.

Police Officers and Security Personnel are indispensable. A “Hemaya ” system is only complementary and supportive of the security men’s efforts as such a system operates around the clock without getting tired or asleep or needing rest. It also visually monitors, surveils, and records all criminal behavior accurately and efficiently,

The “Hemaya” system is one of the best practices applied at the Ministry level. In turn, it aims to tighten the security of facilities, shops, companies, and vital locations to protect them from the potential danger of unknown and other crimes.

after which the police officers will search, analyze, seize and present evidence to the relevant authorities.

To what extent does supporting the security environment contribute to advancing development and attracting investments?

Investors and business owners always look for a safe business environment that protects their money, property, and investment. If a safe environment is provided, then essential elements of investment and development will be available.

This is one of the goals of the “Hemaya” , which contributed to protecting society and achieving a balance between police sustainability and economic and social development.

How do you work on developing and training human cadres capable of following this system and reading its outputs?

We are constantly keen to train police cadres by allocating a police laboratory to train new and old cadres. The objective here is to provide our Police force with all the latest technical, technological, and practical knowledge developed to keep abreast of

the latest developments and requirements of the security services in the Emirates to maintain qualifications.

Cooperation is taking place with the American University of Ras Al Khaimah, which holds specialized training courses for service providers, the total number of which has so far reached more than (100) trained and qualified service providers practically and legally, which has achieved parity in managing the work of the “Hemaya” system.

How is work done to develop the infrastructure of camera networks and link them to the relevant authorities?

By augmenting partnerships with the sectors that are considered “strategic partners” for the General Command of Ras Al Khaimah Police and the Public Resources Authority in Ras Al Khaimah, namely the Department of Economic Development, the Free Zone Authority, the E-Government Authority, the Ras Al Khaimah Educational Zone, the Municipality Department, and the E-Government Authority.

The Public Endowments and Islamic Affairs, the Maritime Navigation Authority, and all government sectors and agencies in the Emirate. These entities always contributed to the achievement and success of the strategic plans and objectives set for them. Their feedback is critical in future foresight and improving the “Hemaya” system toward development and sustainability.

How do you work on adopting international best practices, and how do you work on incorporating the latest technical developments in this field?

The “Hemaya” system stipulates that the authorized service providers install and maintain systems, organize (4) inspection visits to facilities to ensure the validity of

cameras and recording techniques, and perform periodic maintenance for them.

The specifications also stipulated that those television surveillance cameras maintain a recording period of no less than (90) days for all cameras. It is forbidden to connect these cameras to any third party. Only those authorized by the Licensing Department of Ras Al Khaimah Police can access them.

How does the “Hemaya” system enhance the Emirate of Ras Al Khaimah’s competitiveness, especially in investment and tourism?

The “Hemaya” system is one of the complementary facts for this aspect. Through the realization of the UAE vision and its national agenda in increasing the sense of security and supporting the security environment as an essential requirement in development, hence encouraging support for investment and attracting tourism, and contributing to achieving the axes and goals of the government’s strategic direction of Ras al-Khaimah.

On the other hand, the greater the movement of investment and tourism and the multiplicity of cultures, the greater the security requirements to keep pace with developments and various security phenomena accompanying this change and societal movement. Consequently, we find this a correlation relationship that requires the redoubling of efforts that enhance security and safety.

Can this system be expanded to residential buildings and villas?

At this stage, “Hemaya” system obliges all establishments, business centers, shops, companies, towers, and commercial and residential buildings in the Emirate of Ras Al Khaimah to install security and CCTV monitoring systems according to specific specifications and conditions. This obligation includes government and private institutions and departments, mosques and places of worship, hospitals, schools, hotels and rest houses, and exchange and gold shops.

As for residential villas, it is optional for those who wish to secure their homes. We, as a police agency, do not impose anything on anyone. We also advise, in this regard, not to install cameras in bedrooms and hallways to avoid violating privacy by some of the weak souls who beg themselves to interfere in the affairs of others

The role of Ras Al Khaimah Department of Economic Development after the (COVID-19) pandemic

Article 3 of Law No. 4 of 2016 regarding Restructuring and Reorganizing the Department of Economic Development in Ras al Khaimah stipulates that “Ras Al Khaimah Department of Economic Development seeks, through exercising the competencies entrusted thereto under this law, to achieve the following objectives:

A- Achieve and raise rates of sustainable economic development in the Emirate and in its various economic sectors by adopting the principles of the knowledge economy...

B- Promote the Emirate’s economy at the local and foreign levels, and provide a developed economic environment, correct data and information, and pave the way to utilize modern technology to learn about all investment opportunities available in the Emirate…

C- Improving the competitive advantage of the Emirate by enhancing and raising the rates of efficiency and financial effectiveness of an economic sector, and overcoming the obstacles facing such sector to contribute to its growth and development

D- Raising the level of awareness among the public and the business community in the Emirate and providing them with sufficient information and data regarding all updates and economic decisions in the Emirate and abroad by making use of the latest technological and electronic methods...”

Due to the (Covid-19) pandemic, countries have suffered from the economic stagnation since 2019. Ras Al Khaimah has also been affected as in the case of the whole world. This economic downturn has resulted in a slowdown in the capital cycle of both the commercial and industrial sectors. The owners of capital, therefore, has been caught in the crossfire; the decreasing profits on one hand, and the obligations regarding production expenses and salaries on the other hand. In addition, problem of debts came to the surface resulting from business trading between projects and suppliers of trade and industry requirements.

Subsequently, many owners of large projects, as well as owners of medium, small and micro enterprises, were forced to stop their business, leaving the market with minimal losses. Others have withstood the recession in the hope of collecting their dues after reducing the personnel number, while anticipating the recovery in the near future.

Commercial and industrial enterprises in Ras Al Khaimah did not stand alone facing the pandemic repercussions. His Highness Sheikh Saud bin Saqr Al Qasimi - Member of the Supreme Council and Ruler of Ras Al Khaimah- with the follow-up of His Highness Sheikh Mohammed bin Saud Al Qasimi - Crown

Prince of Ras Al Khaimah and Chairman of the Executive Council, launched an integrated economic stimulus package in May 2020 to support the emirate’s economy and ensure business continuity. This package contained many incentives for all business sectors in Ras Al Khaimah, in high-leveled coordination and interaction between the various decision-makers in government agencies and free zones. Three levels of support have been found, including delaying payments, exemptions from fees, and providing consultations. Payment of fines and delay fees were also replaced with tree planting, constituting a qualitative and unique step toward enhancing the sustainability of environmental resources.

The incentives also included support for 15,000 companies, a 25% discount on new residency visas for family members, and the issuance of decisions for comprehensive exemptions that cover exhibition permits and support for national entrepreneurs.

Ras Al Khaimah is an economic center that attracts business and investments, and it is an economically promising emirate. Thus, since the cloud of the Covid-19 pandemic is clearing, the time has come to promote the role of RAKDED (Ras Al Khaimah Department of Economic Development). RAKDED has augmented the Emirate’s economy throughout the pandemic with many incentives and initiatives under the leadership of Sheikh Mohammed bin Kayed Al QasimiChairman of RAKDED - and the management of Dr. Abdulrahman Al Shayeb Al Naqbi- Director General of the Department. The efforts of RAKDED have been culminated by announcing the end of the pandemic recession and the continuation of economic promotion locally and globally.

The Department of Economic Development continues to activate channels of communication between the Department and the owners of emerging projects to help them face obstacles to establishing or continuing their businesses, in addition to issuing draft decisions related to economic incentives appropriate for each activity. The aim is always to ensure the achievement of sustainable economic development for the Emirate of Ras Al Khaimah.

Judge/ Walid ElRefai RAK DED Legal Consultant

One of the main trading partners of the UAE IRAQ...

Musa Abdel Moneim Metwally Economic advisor

International Monetary Fund experts indicated on their visit to Iraq in May 2022 that the economy is recovering in light of the oil prices rise. The real GDP is also expected to reach the pre-pandemic level this year. The favorable conditions of the oil market made it possible to accelerate structural reforms and enhance social and economic priorities. This will strengthen the resilience of the

Iraqi economy in the medium term.

The real non-oil GDP rebounded by about 20 percent the previous year and is expected to achieve a growth rate of about 5 percent this year. Oil production is also expected to reach the pre-pandemic level.

Experts have indicated the impact of the war in Ukraine on Iraq mainly through its global impact on commodity prices. The general inflation rate, therefore, is expected to rise to 6.9%, compared to 6% last year, partially driven by higher food prices.

EMIRATI-IRAQI RELATIONS:

The United Arab Emirates and Iraq share many bonds of brotherhood, history, and common destiny. Iraq was one of the first countries to support the union of the United Arab Emirates in 1971. The relations between the two countries depend primarily on economy, as the Emirati-Iraqi relations have recently witnessed a great development in the exchange of visits and the conclusion of many bilateral agreements. Both countries are keen on developing trade, increasing

Iraq ranked the 172nd in the world, according to the Ease of Doing Business report issued by the World Bank in 2020.

At the level of Middle Eastern countries, Iraq ranks the 17th according to the general index of the Ease of Doing Business report. As for Construction Permits and Protecting small investors, Iraq comes in rank 13

trade exchange, encouraging investment, inviting businessmen to exchange visits, and establishing the Emirati-Iraqi Business Council to facilitate all procedures that serve the common interest.

Iraq is one of the main trading partners of the UAE, as it ranks sixth in terms of the total volume of intra-regional foreign trade with the UAE during the past five years. The importance of Iraq is reflected in the fact that it is the second commercial market for re-exports after the Kingdom of Saudi Arabia. Goods

re-exported to the Iraqi market accounted for about 9.6% of the total goods re-exported during 2021.

In terms of imports, the ranking of Iraq has improved to rank 22 after doubling the volume of imports from Iraq during the year 2021.

The total volume of foreign trade between the UAE and Iraq during 2021 amounted to about AED 62.6 billion, an increase of 17.8% compared to 2020, and of about 12% compared to 2019. The reason behind this increase is the high value of re-exported goods to Iraq by about AED 3.8 billion, to reach about AED 44.4 billion, compared to about AED 40.6 billion in 2020.

The volume of imports from the State of Iraq doubled, to record AED 9.9 billion in 2021, compared to AED 4.7 billion in 2020, while UAE non-oil exports to Iraq grew by 5.2%, reaching AED 7.9 billion in 2021, compared to AED 7.5 billion in 2020.

The total value of goods re-exported to Iraq of machinery, appliances and electrical equipment amounted to about AED 19.9 billion during 2021, which constitutes 44.8% of the total goods re-exported.

The commodities re-exported to Iraq of mineral products amounted to about AED 10.4 billion, or 23.5% of the total, then the commodities re-exported from transport equipment came in third place, with a value of AED 4.8 billion, which constitutes 10.9% of the total.

UAE non-oil exports vary with Iraq, as the value of exports of food and beverage products during 2021 amounted to about AED 2.3 billion, or about 29% of the total non-oil exports, followed by exports of mineral products, with a value of AED 1.8 billion, which constitutes about 23% of the total.

In third place are exports of natural pearls, precious stones and precious metals, with a total value of AED 951 million, which contributes 12% of total exports. Exports of electrical appliances and equipment and products of chemical industries constitute 9.7% and 9% of total exports, with values of AED 768 million and AED 717 million, respectively.

The value of imports from Iraq doubled during 2021, to reach AED 9.9 billion. Imports are concentrated in two main groups of commodities, which are mineral products and pearls or precious stones / metals, with values of AED 5.5 and AED 4.0 billion, constituting about 56% and 41.4%, respectively, of the total UAE imports from Iraq.

The trade balance with Iraq achieves a surplus in favor of the UAE of about AED 42.4 billion during 2021, which represents about 93% of the surplus level of the trade balance achieved in 2019, which amounted to AED 45.5 billion.

TRADE RELATIONS BETWEEN RAK AND IRAQ

The strength of trade relations between Ras Al Khaimah and Iraq is reflected in the high volume of foreign trade. Iraq is considered the Emirate’s second trading partner during the past five years, representing 9% of the Emirate’s total foreign trade volume. The Iraqi market ranks first in the emirate’s exports, while imports from Iraq rank thirtieth.

The total volume of exports (exports + re-exports) in 2021 amounted to about AED 1.2 billion. Food, beverages and tobacco exports constitute about 78.5% of the total export movement, with a total value of about AED 928 million, followed by exports of plant products, with a total of AED 127.7 million, at a rate of 10.8%. In third place are exports of mineral products (oils, mineral fuels, gypsum and cement), and in the fourth place comes materials of stone, ceramic products and glass, with a percentage of 2% of the total and a value of AED 23.8 million.

The total imports from Iraq during 2021 amounted to about AED 60.84 million, which are concentrated in one item, mineral products, with a value of AED 60.82 million, or 99.9% of the total. Followed by imports of chemical products and related industries, about AED 18 thousand. Accordingly, the trade balance with Iraq achieved a surplus in favor of Ras Al Khaimah by about AED 1.1 billion, equivalent to about 92% of the trade balance surplus achieved in 2019, which amounted to about AED 1.2 billion.

In the framework of strengthening the Emirati-Iraqi relations, the UAE announced in April 2021 that it would invest three billion dollars in Iraq. This initiative aims to support the brotherly Iraqi people, advance economic, social and developmental growth, strengthen economic and investment relations, and create new opportunities for cooperation and partnership. To support investment fields, a joint agreement was signed to protect and encourage investment and economic cooperation between the two countries in October 2021. The agreement provides for protecting the investments of the two sides from all non-commercial risks, such as: nationalization, confiscation, judicial seizure and freezing, and works to facilitate allowing the establishment of mutual investments and granting licenses for these investments. The agreement also confirms the entitlement to transfer profits and other investment returns in a free, convertible currency, and allows the investor to be compensated just and immediately for their investment in the event of control over it for the public interest, in accordance with the law and without discrimination, provided that the value of compensation is according to the market value of the investment before controlling it.

BUSINESS

At a press conference held today in Abu Dhabi, the announcement of the launch of AIM Global 2023 - which is supported by the Ministry of Industry & Advanced Technologies, with the Abu Dhabi Department of Economic Development (ADDED) as a lead partner - was made in the presence of H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Vice Chairman of the UAE Industry Development Council and H.E. Mohamed Ali Al Shorafa, Chairman of ADDED.

The Annual Investment Meeting 2023 will be attended by decision-makers, investors, experts, and academic figures from all over the world, who will gather to discuss the shift in the global investment landscape in a global environment characterized by geo-political & economic challenges and its impacts on the attraction of foreign direct investments, and financing vital economic sectors as entrepreneurship, startups, and SMEs.

The Annual Investment Meeting will also address new trends in the current global digital transformation that’s being experienced by developing & developed economies. AIM Global 2023 will feature many sessions & workshops that discuss vital topics, including Future Cities, how to use innovative technologies to address the increasing demands, the business sector’s ability to keep abreast of the fast changes, the future role of Startups & SMEs, and the importance of innovation in achieving growth against a strong competitive background. Also, AIM Global 2023 pillars will discuss the global capital market transformation, ways to improve the flexibility of global supply chains to benefit from growth opportunities, and the Fourth Industrial Revolution & AI technologies in the years to come.

The AIM Global 2023 will comprise several features, including the Exhibition, Investment Roundtables, Investment Destinations Presentations, Investment Awards, Startups Awards, Investors Hub and G2G, G2B & B2B Meetings.

The AIM Global 2023 aims to attract foreign direct investments to the UAE’S vital economic sectors, increasing the private sector contribution to boosting sustainable development and increasing the contribution of non-oil sectors to GDP. The UAE has become, over recent years, one of the top FDI-attracting countries worldwide. The nation has been ranked as the number one country in the Arab world and the 19th country globally for its ability to attract foreign direct investment (FDI), according to the World Investment Report 2022, issued by UNCTAD. The report found that the UAE also ranked 17th globally for FDI outflows, which totaled $22.5 billion in 2021, a 19 percent increase over 2020. for More Info.: www.aimcongress.com

Good health insurance

Is a top priority for MENA professionals

A new survey by Bayt.com, the Middle East’s #1 job site, revealed a variety of insights about lifestyles of professionals and how employers can elicit a healthy change in the workplace. According to the ‘Health and Wellbeing in the MENA’ survey, the majority of respondents (94%) have the intention to become regularly active and follow a healthy diet and 80% reveal that their work schedule allows them to allocate time for physical exercise.

Interestingly, 92% of respondents believe that employers should be involved in the health and wellbeing of their employees. Further, 28% of respondents prefer working for an employer who provides health insurance over a higher salary, 13% believe that higher salary is more important and 59% believe that they are both equally important.

Ola Haddad, Director of Human Resources at Bayt.com said: “Our latest survey highlights how an increasing focus on health is shaping MENA job seekers’ choices and what employers can do to promote a holistic approach to wellness at the workplace. The main aim of our research is to help both professionals and companies create a supportive environment to boost happiness and give rise to important conversations in relation to wellbeing.”

Professionals in the MENA region look for multiple health and wellbeing aspects while searching for jobs. These include relaxed and friendly environment (58%), flexible work hours (23%), health insurance (12%), gym facilities or free memberships (5%) and healthy meals or snacks (2%). In fact, 84% of respondents claim that they will exercise more if their workplace had a gym or offered subsidized gym memberships.

On a positive note, 70% of respondents say that their employer provides them with a health and wellbeing plan, workshops, or educational sessions. 80% believe that their current workplace provides a relaxed and happy atmosphere. Additionally, two-thirds of professionals (66%) are satisfied with the level of communication that exists within their organization.

According to survey respondents, employers can take several actions to contribute in reducing stress at the workplace. These include offering a flexible workplace environment (53%), providing time / resources for physical activity (24%), organizing more social activities for the team (17%) and encouraging healthy eating habits (5%

Global business leaders meet to discuss ways to promote sustainable development and transform the investment landscape

Ola Haddad

THE POWER OF PEOPLE HOW WORD-OFMOUTH CONTINUES TO ACCELERATE BUSINESS GROWTH

By: Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Group

For the last 10 years, business models have been taking big leaps toward profits with marketing strategies largely driven by new technologies. However, word of mouth remains the biggest driver of business even today. People share ideas or content or experiences that reinforce their values or their sense of identity, which is good for their “personal brand”.

Tech-savvy consumers are sharing games or products on smartphones because they value the people they surround themselves with and want to support friends and peers by sharing content that will resonate with them. When Austrian psychologist Ernest Dichter laid out key motivations for people to talk about brands and products, product involvement (33%) and self-involvement (24%) were revealed as key factors. When

consumers tell their own stories, they are covering what is important to them to tell the world and amplifying their voices.

There’s no better marketing than friends and family recommending products to their peers. According to Kantar Media, 93% of people trust recommendations from friends and family as a source of brand news and information. Not only that, but research by Ogilvy also shows that 74% of consumers identify word-of-mouth as a key influencer in their purchasing decision. Social media has made conversations about products and services much easier, but real WOM marketing happens both on and off the web.

As consumers are engaging on mobile and digital channels more than ever before, app platforms like SHAREit which is a peer-to-peer content-sharing plat-

form have witnessed its users share huge volumes of content including files, videos and games. The app’s popularity is propelled by referrals that users have given to one another and has led it to become an effective vehicle for growth among brands in terms of onboarding high-value users in emerging markets.

Marketing is all about the people. To enable real and successful marketing, businesses must tie their strategic marketing plans to a roadmap that reaches large groups of people. Through SHAREit’s distinctive influencer model of recommendation, the platform has helped to drive massive high-quality user acquisition and translated it into in-app purchases for e-commerce platforms.

Currently, transactions are usually conducted on social networking platforms. The main driver of social commerce is the core idea of sharing, which would be for both online and offline, as social commerce is highly dependent on community user interactions and word of mouth.

Whether it is product recommendation, sharing of the best pricing, or even deal coupons with friends and family, online interactions are built on offline relationships. It utilizes peer recommendation, also known as word of mouth, to facilitate trust and engagement between merchants and customers.

Studies by marketing expert Jonah Berger have found two driving factors that power word of mouth marketing. These factors are social currency and triggers. Social currency relies on the idea of exclusivity – getting exclusive information from a peer or hearing about a unique game or a hole-in-the-wall restaurant satisfies consumers’ need to belong to an exclusive group. Triggers are a natural social mechanism that reminds us about a brand or product even when we don’t see advertising. In this way, word of mouth can also be a way to improve existing customer engagement strategies.

Word of mouth marketing will continue accelerating overall growth because it drives a high quality of user installations, recommendations, and LTV, which brands look at in user interactions and user journeys. Because SHAREit is based precisely on the principle that sharing can magnify that very basic social habit for driving brand growth through consumers, brands can still leverage word-of-mouth marketing to build genuine and meaningful customer engagement with wide audiences.

Eventually, customers will become custodians of brand through trust and meaningful connections rather than advanced techniques

REMARKABLE RECOVERY OF HOTEL AND FOOD SERVICES SECTOR AFTER THE PANDEMIC

The United Arab Emirates occupies an advanced position in attracting tourism in the Middle East and North Africa. The UAE globally comes among the top ten in four (4) indicators related to the global competitiveness in the sector of tourism, travel and hospitality in 2021. More than 27 million visitors came to the UAE, thanks to its successful experience that earned it regional and international fame that paved the way for such global ranks. The distinguished and diverse tourism infrastructure also made the country a target for all visitors. The UAE, moreover, has applied international standards represented in the quality of tourism facilities, security, and provision of a suitable business climate for tourism investment, not to mention the stability and the logistical services facilitated.

In the same aspect, the Emirate of Ras Al Khaimah, like the other emirates, supported the country’s tourism orientation. Ras Al Khaimah provides a diverse environment and modern tourist facilities, archaeological sites, ancient forts and castles, historical towers, mountains and a beautiful seacoast extending from Ras Al

Dara in the north to Al Marjan Islands in the south. The emirate also has a heritage museum and heritage societies, giving this sector a priority as one of the main sectors of the local economy that focuses on sustainable and flexible development plans.

Contribution of Tourism to the Economy of Ras Al Khaimah:

Statistical evidence showed a positive development in hotel activities and food services in Ras Al Khaimah during the years 2018-2021. The percentage of contribution of these activities to the gross domestic product or value added remained close to the average for the three years 2018-2020, at around 4.3%. According to the labor force surveys in Ras Al Khaimah for the years 2019 and 2020, these activities provided job opportunities by 3% and 3.7%, respectively, of the total workers in the private sector. These percentages were expected to increase in 2021 and 2022 according to the indicators of

PRESENTED BY DR. TALIB HASSAN HAYALI ECONOMIC EXPERT, RAK CENTER FOR STATISTICS & STUDIES

the number of guests, average nights of stay, occupancy rates and revenues, which increased compared to the year of the pandemic by 22%, 8%, 23% and 29%, respectively. The reasons for the increase in the sector’s contribution to the local economy are due to the increase in the number of visitors to Ras Al Khaimah to 1,114,000 in 2019, compared to 1,070,000 visitors in 2018. After the rapid return of this sector activities to conducting its business at an accelerated level, the number increased to 980 thousand visitors in 2021, compared to 803 thousand visitors in 2020, with an increase of nearly 22%. The authorities supervising this sector expect to increase its contribution and role in the coming years after achieving the tourism vision of Ras Al Khaimah, “Ras Al Khaimah to become the regional leader in sustainable tourism by 2025”, and to receive three million visitors by 2030, in conjunction with the diversity and integration of tourism services packages and hotel facilities at that time. See Table 1-2.

Table 1-2: Contribution of hotel facilities and food services to RAK Economy 2018-2021

Details 2018 2019 20182019 (%) 2020 2021 2020 2021-

Sector contribution in 4.3 4.4 2 4.2 -GDP (%) - 3.0 - 3.7 - -

Percentage of sector workers / total private sector workers * 1070,7 1113,7 4 803,3 979,8 22

Guests number/ thousands 64.8 66.0 4 48.6 59.6 23

Occupancy room Rate (%) 1238,2 1159,6 )6( 694,9 896,3 29

*Source: Ras al Khaimah Tourism Development Authority/ RAKCS

26

The Annual and Quarterly Performance of the Hotel and Food Services Sector:

1. Annual Performance 2018-2021:

The annual performance of the activities of this sector, which included hotels, hotel apartments and rest houses during the period 2018-2021, can be divided into two periods, before and after Corona.

In the first period, which is in 2018-2019, witnessed positive growth, including the number of tourists, nights of stay, accommodation rate and occupancy rates as well as the number of available and occupied rooms. However, the growth rates of these variables remained confined between 2% as a minimum and 4% as a maximum. There was one case of decrease in the number of hotels as a result of a hotel going out of service due to maintenance.

As for the second period, 2020-2021, it was distinguished compared to the first one due to the rapid and strong recovery of this sector after easing the closure procedures and travel restrictions to and from the country. That helped the growth rates to increase compared to the first period, as it was also confined between minimum 3% and 5%, and maximum 22% and 34%.

Supervisors of this sector expect, according to the indicators of the travel and tourism market, that the growth in 2022 and the following years will be higher, supported by an increase in the number of visitors to Ras Al Khaimah and the integration of hotel and tourism services, as we mentioned, see Table 1-1-2.

2. Quarterly Performance 2019-2022:

On quarterly level, the figures showed that there was a decrease in the 1st and 4th quarters of 2020 compared to the 4th quarter of 2019, both in terms of the number of hotels and the rest of other indicators due to the pandemic. However, in Q1 of 2021, the picture changed, and clear signs of a detente began to appear in the activity of hotel establishments, announcing the return of the sector to what it was in Q4 in 2019, with the exception of the number of visitors / guests, which remained the lowest among all the six quarters covered by the study driven by the fear of the pandemic. If we look at the sector’s results in Q1 and Q4 of 2021 and 2022, it can be asserted that it will be able to return after a short period of time to more than a full recovery compared to the previous two quarters at the very least, which enhances confidence in recovery within a short period. Note that the available rooms in this sector have witnessed a continuous increase since Q4 of 2020, and the results achieved by the sector indi-

Table 2-1-1: Annual performance for the Hotel Establishments in RAK, 2018-2021 Million AED

Indicators 2018 2019 Growth 2020 2021 Growth

Hotel No. 48 47 (2%) 40 41 3% Guest (No.) 1070,693 1113,702 4% 803.280 979,806 22%

Guest Nights (No.) 3451,903 3576,405 4% 2072.058 2,779,415 34%

Length of Stay (Avg) 3.2 3.2 0.0 2.6 2.8 3%

Figure 1-2-2: Quarterly available and occupied rooms in hotel establishments 2019-2022

600000 20%

300000

500000 Total Available Rooms 0%

570,004 547,171 489,487 489,121 593,741 600,976 80% 73% 66% 59% 44%

360,092 445,644 60%

700000 362,578 338,408 252,457 241,431 40%

Occupied Rooms 72% 60% 74% 61% 49.2% 51%

Figure 2-2-2: Quarterly and monthly occupancy rates in hotel establishments

Quarterly occupancy

62% 63% Dec. 2019 jan. 2020 Dec. 2020 Jan. 2021 Dec. 2021 Jan. 2022 Monthly occupancy

rates

rates

cate the opposite of what was expected by CEOs in the tourism and aviation sectors in Q3 and the beginning of Q4 of the epidemic year. The recovery of both sectors will not take place before the end of 2023 or the beginning of 2024, coinciding with the return of the aviation sector in the country, see figures 2-2-1 and 2-2-2.

Accommodation and food services activities according to the category of establishment 2021

Based on the classification data of hotel establishments operating in Ras AL Khaimah according to stars for 2021, three and two-star hotels enjoy the highest demand, with occupancy rates of 84% and 72%, respectively, followed by four and five stars, with rates of 62% and 57%, respectively, as well. The fact is that the last two types of hotels have capabilities and specifications that exceed the three / two-star hotels in terms of the type and quality of facilities, services and amenities, and therefore stay prices. That makes them unsuitable for some visitors, which affects the volume of demand and occupancy rates. See Table 1-3 and Figure 3 -1.

Visitors to Ras AL Khaimah, quarterly and continentally, 2019-2022:

Ras Al Khaimah sets new standards for its tourist destinations, as it provides unlimited options that meet the tastes and interests of all visitors coming from all over the world, benefiting from the security, the beauty of the climate, the diversity of tourism types and fields, in addition to benefiting from the tourism exchange between tourism companies operating within the country with their counterparts in other countries. The data of the two tables (4-1 or 4-2) showed an increase in the total arrivals to 258 thousand visitors in the Q1 of 2022, exceeding their total in the Q1 and Q4 of 2020 and Q1 of 2021 and lagging behind Q4 of 2021 by (3.1%). That indicates an improvement in tourism performance towards a return to its performance before 2020, led by visitors from the Gulf Cooperation Council countries in all quarters of the study (Q4 2019 - Q1 2022). The average number of Gulf visitors reached 109,000 visitors in one of the six quarters of the study, while the Europeans averaged 63,000 visitors, ranked second in terms of number, followed by Asians with an average of 47,000 visitors. If visitors from other Arab countries are added to the Gulf visitors, the rate of visitors of Arab nationality will reach 128,000 visitors, 51% of the rate of visitors to Ras Al Khaimah.

It is worth noting that most of the visitors from the different continental groups witnessed an increase in

Table 3-1: Hotel establishment performance by hotel category, 2021 Hotel Type

Figure (1)

Ras Al Khaimah’s Foreign Trade for January 2020-2022

Number of Hotels Available rooms 2021 Occupied rooms 2022 Occupancy% 2020/ 2022

1 Star 5 50,370 20,237 40.2%

2 Star 2 31,390 22,664 72.2%

3 Star 3 142,715 120,423 84.4%

4 Star 7 471,044 290,744 61.7%

5 Star 8 1,141,956 655,754 57.4% Hotel Apartment 11 179,994 99,603 55.3% Motel and Guest House 5 52,595 24,543 46.7% Total 41 2,070,065 1,233,968 59.6%

Source: Ras al Khaimah Tourism Development Authority/ RAKCS

Table 3-1: Hotel establishment performance by hotel category, 2021

188571

157143

125714

94286

62857

31429

0

184,357 184,326 169,555 167,679 202,172 202,275 Dec. 2019 jan. 2020 Dec. 2020 Jan. 2021 Dec. 2021 Jan. 2022 Occupied rooms

220000 111,215 132,341 73,844 98,894 132,843 147,583

Available rooms

Table 4-1: Visitors to the Emirate by Annual Quarters and Continent 2019-2022

Groups Q4 2019 Q1 2020 Q 4 2020 Q 1 2021 Q 4 2021 Q 1 2022

GCC Countries 104,926 79,408 134,348 121,732 114,382 100,363

Others Arab Countries 18,656 14,339 25,439 17,585 18,122 18,864

Africa - Except Arabic 3,076 2,498 3,037 2,495 2,984 2,645 American 4,051 3,473 4,716 4,272 5,411 5,751 Asia - Except Arabic 45,809 32,368 56,333 42,339 52,589 55,103

European Countries 103,673 75,903 22,893 34,402 71,074 71,602

Avian States 738 875 985 734 757 807

Others 3,169 2,034w 1,832 746 1,442 3,339

Total guests 284,098 210,898 249,583 224,305 266,761 258,474 *Source: Ras al Khaimah Tourism Development Authority

numbers during the period between Q4 of 2020 and Q1 of 2022, with the exception of the GCC visitors and African visitors (without the African Arabic countries). Their number decreased from the visitors of Q4 of 2021, but they were not very far from the visitors of Q4 of 2019, especially visitors from the GCC countries. See Table 4-1.

Regarding the top ten nationalities that visited Ras Al Khaimah during Q1 and Q4 of 2021 and Q1 of 2022, the Indian and Russian nationalities exchanged the second and third positions during the three seasons after the UAE. They are followed by visitors from Britain and Northern Ireland, who took an upward trend during the period, as their number doubled in Q1 2022 compared to Q1 2021. The same applies to Kazakhs. It is also noticeable that German visitors declined during this period to sixth place after they occupied the first place in the years preceding Corona. As for the rest of the other nationalities, their quarterly numbers were constantly increasing and growing at normal rates within acceptable limits, confirming the serious trend towards the sector recovery. See Figure 4-1.

The Financial Performance of Hotel Establishments 2018-2022

The revenues of hotel and food services, which consist of the revenues of accommodation, food, and others, increased after the decline occurred two years ago. They increased by AED 695,000 in 2020 to AED 896,000 in 2021, an increase of 29%. This was a result of the increase in stay and board revenues to AED 564 million and AED 285 million in 2021, respectively, after it was AED 447 and AED 218 million in the previous year, with rates of increase of 26% and 31%, respectively. These high percentages represent a positive reaction to the decline that hotel establishments were exposed to in 2020 due to the Corona pandemic and represent an important step towards the rapid sector return to what it was before that year, see Table 5-1.

Table 5-1: Annual Revenues for Hotel Facilities in RAK 2018-2021

Indicators 2018 2019 2020 2021

Room Revenue 745,157 681,858 447,091 564,248 Food & Beverages 436,759 427,212 217,764 285,019

Other Revenue 56,237 50,572 30,056 47,038 Total Revenue 1238,153 1159,642 694,911 896,305 *Source: Ras al Khaimah Tourism Development Authority/ RAKCS

Figure 4-1: Top 10 Nationalities visited the Emirate in the first quarters 2021 & 2022

Q1 , 2021 Q1 , 2022

93,490

116,351

71,336

70,213

29 %

The growth in accommodation and food service revenues for the year 2021 compared to 2020 500 Million Dirhams The amount of new investments in tourism projects

20,773

40,417

18,151

16,516

11,540

5,796

11,940

5,107

9,933

5,624

10,161

6,198

172,773 9,403

37,993

UAE India Russian Federation Kazakhstan Egypt The Philippines Pakistan Czech Republic Jordan Germany

Britain and Northern Ireland

17,755

43,305

9,306

7,956

24,078

6,196

5,410

63,997

39,864

12,699

4,797

11,058

4,320

7,888

2,988

97,506 55,392

175,301 2,908

18,641

6,329

No. of guests No. Of Rooms

Future Directions for Tourism in Ras Al Khaimah:

Sustainable development plans are at the forefront of Ras Al Khaimah Vision 2030, as is the case in the UAE. Priority is given to increasing energy efficiency, enhancing the quality of life, achieving sustainable economic growth, and preserving natural environmental resources. That could be achieved by focusing on the sectors of energy and industry, tourism, environment, and transportation. To achieve the objectives of Ras Al Khaimah, the Tourism Development Authority seeks through its plans to focus on the following:

1. Adopting a balanced tourism strategy to achieve sustainability in the field of environmentally friendly tourism that is consistent with the identity as a naturally beautiful destination that aspires to be a regional leader by 2025. This will be achieved based on four basic pillars, including sustainable development, preserving cultural heritage, building targeted destinations and facilities, and finally supporting society and enhancing livability.

2. Applying industry guidelines when licensing new hotel projects to ensure best sustainability practices are followed. An example of this is the integrated “Wynn Resort”, which was announced recently to be the largest foreign direct investment of its kind in Ras Al Khaimah,

with 1,000 hotel rooms. This resort will be opened in 2026 and will be developed in line with the green building regulations in Ras Al Khaimah “Barjeel”. Another example is the “Saij Mountain Lodge”, a protected and sustainably managed mountain resort project that includes a number of lodges made of natural and sustainable materials, which is scheduled to open on Jebel Jais in 2023.

3. Diversifying and enhancing the experiences of visitors to Ras Al Khaimah by developing innovative products for the mountain trails in Jebel Jais, which hosts the most famous stations for adventures and natural experiences, and improving hotel offers to meet the demand from all categories of consumers and markets. As part of the new strategy to diversify tourism products, plans have recently been announced to invest AED 500 million ($136 million) in 20 sustainable tourism projects under implementation and development across the emirate, in partnership with RAK Hospitality Holding Group and Ras Al Khaimah Chamber of Commerce and Industry, expected to be completed by 2025.

4. Ras Al Khaimah seeks to receive 1.1 million visitors this year, after returning to pre-pandemic figures by receiving about one million visitors during 2022. Ras Al Khaimah continues its successful growth in light of removing more restrictions imposed due to the pandemic around the world. the Emirate is moving steadily towards achieving its long-term vision of attracting 3 million visitors by 2030. Ras Al Khaimah’s will be able to reach this figure through a series of investments and strategic expansions undertaken by the Authority.

All these new plans and investments will develop tourism in Ras Al Khaimah and increase its competitiveness at the state and regional levels, in addition to raising its contribution to the GDP

The number of visitors to Ras Al Khaimah by the end of 2022

CONCLUSION

Statistical evidence, as confirmed by the responsible authorities, indicate that the number of visitors to Ras Al Khaimah exceeded half a million visitors between January and June 2022. There are sufficient capabilities to achieve the goal of receiving 1.1 million visitors by the end of 2022 from 980,000 visitors in 2021 and increasing it to 3 million by 2030, in implementation of the vision of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. This vision will be supported by an increase in the number of available hotel rooms from 7,720 in 2021 to more than 20,000 targeted rooms in 2030.

The statistics of the Authority and the Ras Al Khaimah Statistics Center showed the flexibility of the markets on which the emirate relies in attracting visitors. Ras Al Khaimah attracted from Western European countries 28% of the total number of its visitors in Q1 of 2022 compared to 27% in Q4 of 2021 and attracted from the Gulf and Arab countries 46% and 50% of the total, respectively, and from Asia 21% and 20%, respectively, as well. From Russia, Kazakhstan and the Czech Republic Ras Al Khaimah attracted 12% of the visitors in Q1 of 2022, while from India, Britain - Ireland and Germany the percentages are 8%, 6% and 4%, respectively. These numbers are encouraging due to the novelty of Ras Al Khaimah’s tourism experience, which was launched based on its belief that the future predicts a lot for this promising sector on the one hand, and on the integration of components of its tourism infrastructure, which still has absorptive capacities that have not been fully exploited yet. There are islands, regions, and tourist and archaeological sites that can attract large numbers of visitors from different countries of the world. There are also new investments in important tourist sites such as Al Marjan Islands, Al Hamra, and Jebel Jais, and in the infrastructure in general, especially in sectors related to tourism, such as aviation, transportation, and culture. All of these sectors are able not only to raise the contribution of this sector to the GDP, but also to raise the level of employment for citizens and expatriates and attract more visitors. All this depends on the ability of the supervisors of this sector and their success in promoting Ras Al Khaimah in creative and innovative technical ways.

OVER THE TOP

Obaid Ahmed Obaid Al Tunaiji

OBAID AHMED OBAID AL TUNAIJI

HOW BARISTA’S PASSION TURNED INTO SPECIAL PROJECT?

Interviewed by/Khawla Ibrahim

People, all and sundry, never been united in one love as much as they are united in the love of coffee, with its differed flavours and methods of preparation. Coffee in the UAE has a unique traditional way of preparation, especially that it is a symbol of Arab hospitality and generosity. Today, however, different international coffee blends have entered our Arab region. These blends attracted young people who were not only satisfied with their love for drinking such blends, but rather went to establish their own projects of specialized coffee.

RAK-BUSINESS Magazine interviewed Obaid Al Tunaiji, the youngest Emirati barista. He established his own business as part of the projects supported by the Saud Bin Saqr Establishment for Youth Enterprise Development (RAK SME), by which he turned his passion for coffee into a private project that provides special coffee blends.

“The presence of coffee in our lives is an inevitable daily necessity. The coffee pot is present in every Emirati home from early morning until the end of the day. The coffee pots were never empty, as our mothers and grandmothers were keen to renew the coffee whenever it was about to run out. These were the beginnings of my love for coffee and its association in my mind with the concepts of generosity and hospitality. After the specialty coffee entered our society, I liked it and liked the methods used to be prepared, and I started learning them. The specialized coffee shops spread widely in our society attracting young people, until they became part of the daily routine for most of them. Here, I thought of turning my hobby into a private business, and this was O7,” said Obaid Ahmed Obaid Al Tunaiji, 18-year-old Emirati entrepreneur.

Did you receive any support from government bodies to establish your own project?

“Thanks to the wise guidance of our wise leadership, I did not face any difficulty in establishing my own project as a young man. I just went to RAK SME that support and embrace young citizens entering the labor market. As budding entrepreneurs, we received great support, facilities, and exemptions that enabled us to stand on solid grounds to launch our own projects. RAK SME then provides us with additional support through workshops, training courses, exhibitions and various events that introduce the public to our services.

I mention here RAK EATS Festival, which is organized annually providing an ideal opportunity to introduce the community to our services, hobbies, and activities,” he explained.

Is it easy to break into hospitality sector to do your own business?

“Many consider that engaging in hospitality projects carries risks and challenges due to the specificity of investing in this field, which is closely related to people’s tastes and

preferences. However, there is no doubt that it is a very active and vital sector that attracts young people to invest in. To succeed in such sector, you must move away from imitating others, have your own vision, and be able to constantly innovate and create innovative ideas to be able to retain your customers and attract more new ones,” Obaid answered.

Do you consider yourself a first-rate barista?

With confidence he said, “if I am not a firstclass barista, I am a successful barista with a passion for constant learning, the pursuit of knowledge, self-development and refinement of expertise. When I started, I wasn’t as good as I am today. I was keen to enroll in various courses in this field, as well as to visit exhibitions specialized in coffee and its tools, in addition to learning about the experiences of others and visiting cafes owned by some friends. So, I was learning through observation and with continuous experience and practice, I was able to master the barista’s tools and get to know the finer details of this gentle profession. I am still learning until I reach higher levels, God willing.”

What was the society’s reaction to your work?

“Work fulfilled my passion, and I was eager to be constantly at the helm of my work. There is a wisdom says that ‘the capital is the eye of its owner’, and this saying is very accurate, because if someone does not supervise his work by himself, he will waste the business and lose. If we are not pessimistic, he will not come out with the same quality and perfection that he hopes and aspires to. It is necessary for the work to be supervised by the project owner himself, so business could be developed and prospered. Thankfully, the Emirati society today is open to the idea of citizens working in such profession, and also appreciates the presence of young citizens in this field.” Obaid answered.

“International brands are no longer a competitor and a challenge to us. Many national projects are now able to compete with international brands. We have our

tools, we love our work, and we are close to our generation,” said Obaid about the competition of international brands. What about the most prominent items you offer, and how do you compete in a market full of competitors?

“We are in an open market that welcomes many specialized coffee projects every day, and each project has an advantage that it presents, whether in terms of form or content. Perhaps the large number of “cafes” is an advantage of the existence of honest competition, and we, as young people in this field, cooperate and join hands so that everyone succeeds. In my turn, I am keen to provide a distinguished service with high quality and a different experience. I supervise all stages of work, and I also prepare coffee myself for the “O7” guests, using the finest and most luxurious types of coffee. What distinguishes us most is the cold and hot Spanish Latte, Cortado and drip coffee, especially V60,” he answered.

What are your future plans and dreams?

“When you start your own business, do not stop dreaming, work hard to achieve your dream, and make room for a bigger dream. I have a lot of dreams and a lot of plans to develop my business in parallel with my educational and academic path. Hopefully, with diligence and perseverance, and with experience and expertise, we will expand in this field so that the name O7 will have its own and distinguished presence in the hospitality sector,” said Obaid

In order to succeed in the hospitality sector, you must move away from imitating others, have a special vision to be able to constantly create innovative ideas to retain your customers and attract more new customers

A NEW BREED OF FINANCE LEADER IS EMBRACING CRYPTOCURRENCY

Cryptocurrencies are notoriously volatile and poorly understood in mainstream markets. Yet there is little doubt that digital money and the blockchain will have a central role in future business. Estimates suggest more than 15 000 businesses globally already accept Bitcoin as payment.

igh-profile brands that accept cryptocurrencies include the likes of Gucci and Chipotle. CFOs, who are charged with managing the financial affairs of a company, are increasingly considering what crypto will mean for their businesses. Global Sage research found that 52% of finance leaders believe decentralised currencies will prove ‘extremely’ viable as a long-term payment solution. Let’s look at cryptocurrencies and what their adoption means for CFOs.

What are cryptocurrencies?

A cryptocurrency is a digital currency where transactions are verified by a decentralised system using cryptography rather than by a centralised authority such as a central bank. Cryptocurrency is a digital token that is secured and transferred cryptographically and securely using blockchain technology. Some examples of cryptocurrencies include Bitcoin, Ethereum, Litecoin and Ripple. Also looming in the future are central bank digital currencies, or CBDCs. These digital currencies have the backing of the central bank in a country

CFO challenges in using cryptocurrencies

While some businesses are experimenting with cryptocurrencies, others are more cautious due to various concerns. Our research found three significant hurdles when it comes to the adoption of cryptocurrencies: sustainability, skills, and security.

• Regarding sustainability, cryptos have a reputation for consuming a great deal of power, which doesn’t align with environmental, social, and governance (ESG) concerns. Mining Bitcoin, for example, requires energy-intensive

computing, is costly, and only sporadically rewarding with crypto tokens.

• Companies across the board recognise an ever-growing digital skills gap. From data science to cloud computing, organisations of all sizes struggle to recruit and retain the digital talent they need.

• Finally, 20% of CFOs in Sage’s research refer to security concerns regarding the major challenges of adopting cryptocurrencies.

What does embracing crypto mean for CFOs?

Embracing cryptocurrencies creates a new operational and financial challenge for CFOs. They need to carefully consider how these assets will sit on the balance sheet, given the wild swings in the value of cryptocurrencies. Any move towards crypto will be slow and cautious.

However, in the longer term, digital currencies may streamline transactions and help reduce transaction costs. They may also improve auditability and transparency across multiparty transactions. Smart contracts and digital currencies could one day enable higher levels of automation across the value chain. While cryptos are still an emerging technology, they have come a long way in the past decade. Nonetheless, not all CFOs will want to rush to accept crypto payments or use digital money as a store of value. Still, forward-looking finance leaders should familiarise themselves with the underlying technology and concept. Despite the challenges, digital assets certainly look like they are here to stay

By Jordaan Burger, Vice President Finance, Africa, Middle East and Asia-Pacific

UNIVERSAL CARTON INDUSTRIES CONTINUES TO GROW BY INVESTING AED 55 MILLION AND EMPLOYING OVER 300 PEOPLE

Universal Carton Industries (UCI), one of UAE’s leading corrugated cardboard box manufacturing companies located in Ras Al Khaimah Economic Zone (RAKEZ), is investing AED 55 million to expand its production volume to meet the growing demand for sustainable packaging solutions in the UAE and overseas. This expansion will increase UCI’s production capacity by threefold to 100,000 tons per annum.

The new state-of-the-art facility totalling 375,000 ft2 is scheduled to be completed in 2023. The company, which initially began operations in 2014 at Al Ghail Industrial Zone, is aiming to increase its manpower to 300 employees.

Increasing demand: Commenting on the expansion, Managing Director of Universal Carton Industries, Arsalan Pirani said, “With the extension of our European food grade corrugation plant in Ras Al Khaimah, modern equipment and innovative technologies, we will have achieved an unparalleled production capacity and set off on our journey to becoming the pioneers of sustainable packaging solutions. Once it’s completed, we will not just be able to diversify our share in the UAE and GCC, but also target new strategic global markets.”

Tremendous Support

UCI’s Chief Operating Officer, Saleem Vohra, highlighted RAKEZ’s support in their growth journey: “The economic zone has been our guide since the very beginning, providing us with tremendous support in our setting up phase in the UAE. They assisted us in obtaining approvals from various governmental entities and efficiently set up our company in less than a week. Throughout the years, RAKEZ has provided us with continuous support in successfully growing our business.”

Development and Growth:

RAKEZ Group CEO, Ramy Jallad said, “We are thrilled to be the trusted base for Universal Carton Industries and witness another great milestone for the company. It has been a great collaborative journey. UCI is a great

example of the many high-growth companies we have in Ras Al Khaimah that benefit from the expert support we provide to facilitate their journeys. This support, combined with Ras Al Khaimah’s cost-effective business operating environment, helps international companies truly maximise the advantage of growing opportunities in the MENA region.”

PONTUS FREDRIKSSON

New group president of Gulf Agency Company (GAC)

Gulf Agency Company (GAC), the global shipping, logistics and maritime company, has appointed Pontus Fredriksson as its new group president effective January 2023.

Bengt Ekstrand, who has held this position for the past ten years, will take over as executive co-chairman alongside longtime Gulf Agency (GAC) CEO Björn Inglom.

Fredrickson joined GAC in 2007 and has served as group VP for the Americas since August 2019. He previously held several financial and managerial positions in the Middle East, including general manager of GAC in Bahrain. Gulf Agency (GAC) provides services in more than 300 offices around the world and employs about 7,500 people worldwide.

CHRISTOPHER EDEN

Director of Ground Operations, DC Aviation

Al-Futtaim

DC Aviation Al-Futtaim (DCAF), a joint venture between Dubai-headquartered Al-Futtaim and Germany’s DC Aviation, one of the leading European business jet operators, has announced the appointment of Christopher Eden as Director of Ground Operations.Chris will be based in DCAF’s headquarters located at Al Maktoum International Airport and will oversee the Ground Operations Department as the nominated Post Holder.

Previously, Chris worked at Siam Land Flying in Thailand at was the General Manager Phuket and was responsible for establishing their new FBO operation. He has over 10 years of experience working in the Middle East in VIP/Business aviation involved in both Ground and Flight Operational roles. Recently he led and completed a successful FBO operational set-up in Phuket, Thailand.

SAHAR HAIDAR

Head of Amana Global Operations

Amana, a leading online neo-broker in the MENA region, has announced Sahar Haidar as the new Director of Global Operations.

Boasting over a decade of experience at amana, Sahar Haidar is well-versed to lead the operations function as the company continues its successful transformation journey.

As the Director of Global Operations, Haidar is tasked with designing policies, overseeing customer service, financial operations and implementing technology solutions. She will ensure that amana’s critical day-today front- and back-end operations work towards the platform’s success.

As a primary focus, Sahar has already increased amana’s customer service staff and introduced mechanisms to improve speed, quality and efficiency of the customer service function.

TOWARDS SUSTAINABLE QUALITY OF LIFE AND BETTER LIVING

Huge challenges the world is facing today in light of climate changes and carbon emissions as a result of excessive energy consumption and environmental pollution due to the volume of industrialization, massive production, consumer insatiability, and the lifestyle of the modern era. Thus, called on governments and international organizations to raise the alarm and call for confronting these challenges by all means. Climate change is topping the world news as a result of global warming and melting of ice - an urgent call to address the dangers facing the planet, and the natural disasters that plague in light of the escalating and alarming situation.

In this issue, we decided to review with our dear readers some major aspects of this topic, while highlighting the role of higher education and scientific research as the main focus and strategic partner in activating the alternative energy system and sustainability. Being an essential part in the economic system that strives to achieve one main goal: “Towards a sustainable quality of life and a better living”

Sustainability?

The term may seem more technical and complex than it is in reality, as it is simply related to the continuity of life in all its aspects and features. Among the lofty sustainability goals amongst others is: improving the quality of life, conserving resources, clean and affordable energy, good health, eradicating poverty, eliminating hunger, adequate work and jobs, economic development, a balanced ecosystem, wild and marine life Sound, social justice and equality, strong institutions, rational production and consumption, sustainable cities, and other goals that will not be achieved unless the world congregates individuals’ and groups’ forces around one fact: “The continuity of life is everyone’s responsibility!”

A thousand miles journey begins with one step!

Accompanying the challenges is a challenge greater than all of them: On whom lies the responsibility? Where and how do we start? What is in plan and what are the priorities?

In recent years, and in the face of the acceleration of climate change and the emergence of its direct effects on humankind, the world has begun to move towards reunification and gathering of forces at all levels, and to intensify efforts in order to stave off risks and find solutions and tools to ensure over-

coming the current challenges and avoiding the worsening of the situation. It may seem that the answer to all the questions raised at the present time will not be an easy matter, but the world has agreed that the preservation of resources and sustainability is a crucial requirement for the continuity of life.

Roles and Responsibilities?

Governments, governmental and non-governmental organizations have been mobilizing global public opinion and stressing the need to develop unified plans and goals worldwide to reduce resource depletion, preserve the environment, rationalize consumption and supplement the global economy through the inclusion of economic development programmes, projects and schemes with top priority: “sustainability”. “. In recent years, the world has witnessed international forums and various economic activities, including government summits on climate change, conferences and events at the highest levels dealing with this very important economic axis. There is no longer a short or long-term economic plan or vision that does not include this axis as a basic pillar among the future economic goals and aspirations. However, the issue of the extent of involvement and activation of the role of all concerned entities, institutions, individuals and groups remains the real and decisive step in embodying those visions and aspirations on the ground. Collective responsibility awareness towards sustainability may be important, but full institutional and individual awareness more precisely is crucial, and defining roles and assuming responsibility is what will make the difference and achieve the ultimate goal

References and links

1. Alternative-Energy-in-the-UAE-The-Potential-of-Biofuels-Sourced-fro Ras-AlKhaimah-Mangroves.pdf (researchgate.net)

2. https://scholar.google.ae/citations?mauthors=aurak&hl=en&view_op=search_authors

3. https://aurak.ac.ae/en

4. Collaborative Research related to Sustainable Development Goals https://aurak.ac.ae/ en/dr-mohammad-al-zarooni/

Imad Eddine Oubiri Sr. Advisor - Director of Community and Industry Engagement American University of Ras Al Khaimah

The American University of Ras Al Khaimah takes the lead

TOURISM

A MAGICAL SCENE IN THE NEW YEAR’S EVE CELEBRATIONS

Ras Al Khaimah seeks to design a magical scene in the New Year’s Eve celebrations, with the aim of recording two new records in the Guinness Book of Records, as it will try along the waterfront between Al Marjan Island and Al Hamra Village, to break the world record for “the largest number of drones used to launch fireworks simultaneously” and setting a new world record for “the largest aerial mass formed by drones.”

The exceptional fireworks show is scheduled to last for 12 minutes, as visitors

New Year’s Eve celebrations in Ras Al Khaimah this year will be more prominent and larger, with a festival for families that provides the perfect viewing platform for midnight

promise to enjoy unforgettable moments through the exciting drone and fireworks show.

Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, said: “We are pleased to attempt to set two new Guinness World Records for New Year’s Eve celebrations in Ras Al Khaimah. We look forward to welcoming our visitors and guests from all over the world to witness this exceptional achievement.”

New Year’s Eve celebrations in the Emirate of Ras Al Khaimah this year will be more prominent and larger, with a festival for families that provides the perfect viewing platform for midnight.

The family event welcomes visitors of all ages and will come alive with colors and sounds on New Year’s Eve like no other through a dedicated viewing platform opposite Al Marjan Island from 2:00 pm to 2:00 am.

The festival will include a concert by some of the best DJs and artists in the UAE.

And Ras Al Khaimah set the world record for the “highest height of a fireworks display with unmanned aircraft” in fireworks displays during last year’s celebrations.

It also won two Guinness World Records for “the largest number of drones used to launch fireworks simultaneously” and “the longest waterfall of fireworks” in 2020, in addition to two other records for “the longest chain of fireworks” and The “longest straight line of fireworks” in the 2019 New Year’s Eve fireworks display

10 ADVICE FOR SAFELY EXPLORE

Ras Al Khaimah Tourism Development Authority is dedicated to ensuring the safety of its visitors, especially on the mountains where conditions can be changeable. Anyone planning a mountain adventure in Ras Al Khaimah is encouraged to visit www.visitrasalkhaimah.com for details of the various self-guided and professionally guided hiking trails on offer in the mountains.

For those heading out alone, mountain safety expert Lee Ellison, Owner and Director of Training at Hajar Mountain Adventures – the UAE’s first certified adventure training company offering Mountain Leader courses –advises the following:

1. Plan your hike, use your common sense, and do not exceed you and your fellow hiker’s limitations.

2. Research the downloaded self-guided trail and make notes. Do not rely on GPS; the signal may be poor in the mountains. Charge your smartphone before you set off.

3. Know the trail’s regulations and note the opening and closing times of the route. Do not attempt to hike the trail if it is closed

4. Understand how long the route should take you and the various potential challenges you may face.

5. Water is not available on most trails, so take your own and remember to refill at water fountains available on some routes. You should drink about one liter of water each hour.

6. If you drive to the start point of a trail by car, leave a note inside the windscreen stating details such as the route taken, size and name of the group, contact number of the hike leader and time you expect to return.

7. Save emergency numbers on several phones.

8. Try and hike at times when there are likely to be other people around, such as in the early morning or late afternoon.

9. Always keep track of time, and if necessary, turn back with ample time to finish your hike before dark.

10. Never hike alone

EXPLORE THE GREAT OUTDOORS IN RAS AL KHAIMAH

Ras Al Khaimah invites you to immerse yourself in its stunning landscapes and natural surroundings with an array of outdoor adventures, ideal for the cooler months.

From pristine white sandy beaches to lush mangroves, rolling terracotta deserts and a stunning mountainous landscape, there are a multitude of exhilarating outdoor escapes awaiting you in Ras Al Khaimah this winter. Whether you are into camping under the stars, exploring hiking hotspots and lesser-known hidden gems or you simply want to immerse yourself in nature, discover some of the best spots and activities now that the cooler temperatures are upon us:

Majestic Mountains

From exhilarating hikes for all levels to exploring the old settlements of the Emirate’s mountain tribes, the soaring peaks of Ras Al Khaimah have something for everyone. They are especially breathtaking during the cooler months, when many of the valleys blossom with wild flowers and native flora. Discover these stunning landscapes across the trails leading to Sal Sheha (Hidden Oasis) and White Wadi, encounter mesmerising rock formations at the wadis facing Al Rams costal line, or even scale the heights of the UAE at Wadi Sheha Peak rising 1,110m above sea level. For those looking to explore at their own pace, take your pick from a range of self-guided trips on foot with more than 50+km of hiking trails or on two wheels with one of the Emirate’s e-mountain bikes.

Authentic Experienc

For an authentic experience, enjoy a sunset walk to soak in spectacular panoramic views and step back in time with a traditional dinner, part of the Adventure Tourism Sustainable Program from Adventurati Outdoor, prepared by the local mountain tribes at Camp 1770, the highest camp in the UAE. Additionally, Bear Grylls Explorers Camp reopened for the season last November, offering a range of thrilling instructor-led survival courses and activities such as mountain biking, hiking, abseiling, and rock climbing – each one designed to test participants’ abilities to thrive and survive under extreme conditions.

Mountain Trail Adventures

Ras Al Khaimah is home to the towering Jebel Jais mountain peak that bravely rises almost two kilometres above the Arabian Gulf. The hairpin road gloriously meanders through ruddy barren landscapes, deep chasms and rugged bluffs. On your way up, there are various photogenic opportunities around every bend. Close to the summit is the ultimate viewing deck that affords breathtaking views across more of the Hajar Mountain range, rolling desert-scapes and finally to the Arabian Gulf. The mountains were formed over 70 million years ago and are bursting with secrets, skittish mountain goats, the occasional silently soaring eagle and arbitrary chatty donkeys.

Spectacular Seas

Stemming from the centre of the city, Ras Al Khaimah boasts a vast network of lush mangroves. Soak up this diverse natural landscape with a peaceful journey aboard a kayak or paddleboard and discover a vast array of birdlife – from pastel pink flamingos, western reef herons, kalba collared kingfishers to huge flocks of cormorants and even the greater spotted eagle.

For once-in-a-lifetime animal encounters, head to the beaches in the south of Ras Al Khaimah for the unique opportunity to swim with race camels. Paddle along with the majestic animals as they swim ahead and capture that perfect Instagram-worthy shot.

Dramatic Dunes

Ras Al Khaimah is also the perfect place to discover the peaceful tranquility of the ubiquitous Arabian desert, home to some of the most breath-taking terracotta dunes. From camping and horseback riding to camel treks and desert drives, the sprawling, protected spaces of Al Wadi Nature Reserve offer the perfect opportunity to switch off and soak in the natural landscapes. Visitors seeking decadent dining under the stars can head down to the Sonara Camp, a luxurious dining and entertainment experience, with herds of Oryx and Gazelles as dinner companions.

History and Heritage

The winter season also brings with it the perfect opportunity to explore some of Ras Al Khaimah’s remarkable heritage. From hill forts, deserted villages, and ancient archaeological sites to the region’s only traditional pearl farm, Suwaidi Pearls, and tours around local date farms, immerse yourself into the remarkable story of the Emirate and the three tribes of mountain, sea, and desert that formed it.

Ras Al Khaimah enhances outdoor comfort

The outdoor comfort systems consist of various combinations of shading, misting, fans, and pavement surface treatment, which can reduce the outdoor temperature by up to 10℃ under the right conditions. They were designed and installed by experienced suppliers, after a study of the weather and wind conditions at the locations.

PureHealth wwins Healthcare Company of the Year Awardt

Reinforcing its national healthcare leadership across the UAE and region, has achieved “Healthcare Company of The Year” award at the 10th edition of the Gulf Business Awards held last week in Dubai. The award comes on the heels of PureHealth’s announcement that its subsidiary Abu Dhabi Stem Cells Center – the first and only dedicated centre for stem cell and regenerative medicine in the UAE having successfully completed a Bone Marrow Transplantation on a patient suffering from Multiple Sclerosis (MS) – the first-ofits-kind in the region.

Al Masaood Automobiles

On the regional debut of 7th generation Nissan Z Commenting on the recent unveiling of the much-awaited seventh generation Nissan Z in the region, Bachir Gemayel, Sales and Marketing Director of Al Masaood Automobiles, said: “The Nissan Z has long been dubbed as a legendary sportscar, and I believe that the model has rightfully earned its title. An icon in the sportscar range, the Nissan Z brings nothing short of excitement in its drive, and to a country as iconic as the UAE, it is only befitting to bring over the best. Packed with a multitude of innovative technologies, the Nissan Z delivers a blend of power, grip, speed, connectivity, and sophistication to the driving experience. With Nissan’s deep-rooted popularity in Abu Dhabi, the Nissan Z will only further cement the brand’s leading position in the market.”.

ServeU launches two B2B mobile applications for corporate clients

ServeU, one of the UAE’s leading facilities management (FM) solutions provider and a subsidiary of Union Properties, has launched two B2B mobile applications for clients with residential and commercial properties. With the rapid technological advancements and introduction of innovative mobile applications in the industry, the FM sector is also facing a transformational phase. ServeU has launched the first of its kind B2B mobile applications for the FM sector that facilitates seamless interactions with the corporates directly and allows them to log in service requests in a minute. The apps enable rescheduling of planned maintenance as per client’s convenience, which is directly reflected in the ServeU technician app. Gary Reader, General Manager of ServeU, said: “The journey and progress of the facilities management industry in the past few years has been incredible. As the years go by, the boundaries of the FM sector have been expanding, and companies are constantly adapting to new and innovative technological advancements, meeting market expectations and revamping working practices to address future challenges. ...”

ADNOC, Baker Hughes Sign Agreement to Explore New Technology for a Clean Energy Future

Baker Hughes, an energy technology company, and the Abu Dhabi National Oil Company (ADNOC) signed a strategic technology collaboration agreement during ADIPEC 2022 to explore collaboration opportunities around research and development (R&D) for technologies that can help drive a sustainable energy future in the UAE. The agreement aims to support the development of technology proofs of concept, technology scale-ups and technology pilots while exploring the feasibility of their deployment across key projects at ADNOC.

In line with the objectives of the UAE’s In-Country Value program, the agreement supports the development of home-grown innovations, with an opportunity to leverage the ADNOC Research and Innovation Center to foster these R&D projects.

“ADNOC is accelerating the development and deployment of advanced technologies to provide smarter, lower carbon, energy to the world. Together with Baker Hughes, we will focus on finding innovations that help the UAE achieve its Net-Zero by 2050 strategic initiative, while also generating In-County Value,” said Sophie Hildebrand, ADNOC Group Chief Technology Officer.

“We are honored to be signing this agreement with ADNOC, which reinforces our commitment to supporting In-Country Value and innovation in the UAE. As an energy technology company, we are keen to work with ADNOC to locally develop technologies that can support a more sustainable energy future in the UAE and beyond,” said Zaher Ibrahim, Vice President, Europe, Middle East & Africa, Baker Hughes.

NESPRESSO ANNOUNCES THE LAUNCH OF THE FIRST NANO BOUTIQUE IN THE UAE

Pioneer of sustainable coffee production, Nespresso has announced the opening of a Nespresso Nano boutique in Dalma Mall, Abu Dhabi the first of its kind in UAE. Focused on highlighting Nespresso’s strong dedication to sustainability, the Nano boutique is an immersive retail experience showcasing the true essence of coffee, where visitors get to explore the Nespresso coffees on a deeper level.

With the introduction of the first Nano boutique in the country, visitors will experience elements that reflect Nespresso’s deep commitment to sustainability and adherence to a circular economy – one that is restorative by nature and works to minimize waste through careful design and the use of technology.

Al Ansari Exchange is ‘ConsumerFriendly Company’

Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, was recognised as a ‘Consumer-Friendly Company’ by the Government of Dubai’s Department of Economy and Tourism (DET). The company was certified in the region’s first-of-its-kind evaluation of Consumer-Friendly Standards which was conducted by experts from the DET’s Consumer Protection Department.