Category Archives: Business & Investments

Bafleh Jewellery Celebrates Milestone Achievement with the Arrival of the First CEPA Parcel from Indonesia to Dubai

Dubai, 12th September 2023

Bafleh Jewellery LLC, a prominent player in the gems and jewelry industry, is delighted to announce the reception of its inaugural shipment under the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Indonesia. CEPA has made an indelible mark on trade relations between these two nations, driving impressive growth in bilateral trade.

On his part, H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, expressed his delight at receiving the inaugural commercial shipment from Indonesia to Dubai as part of the CEPA between the UAE and Indonesia.

Continue reading Bafleh Jewellery Celebrates Milestone Achievement with the Arrival of the First CEPA Parcel from Indonesia to Dubai

Zayed Sustainability Prize Announces 33 Finalists Advancing Global Sustainability Initiatives

Zayed Sustainability Prize Announces 33 Finalists Advancing Global Sustainability Initiatives

  • 33 finalists selected from 5,213 submissions across 163 countries
  • Finalists are championing impactful climate action and supporting clean energy, water, food, and healthcare access

12 September 2023: Abu Dhabi, UAE: The Zayed Sustainability Prize, the UAE’s pioneering global sustainability and humanitarian award, has announced this year’s finalists following a deliberation by its esteemed Jury.

The winners will be announced at the Zayed Sustainability Prize Awards Ceremony on 1 December during COP28 UAE, the 28th Conference of the Parties of the UN Framework Convention on Climate Change, to be held from 30 November to 12 December.

Continue reading Zayed Sustainability Prize Announces 33 Finalists Advancing Global Sustainability Initiatives

Motul launches NGEN range of engine oil in ME, Merging Performance with Sustainability

Motul launches NGEN range of engine oil in ME, Merging Performance with Sustainability

The significant step towards showcasing a resolute commitment to sustainability, while keeping Motul’s legacy of high-performance oils in the market, reduces carbon footprint significantly in the manufacturing process.

Dubai – September 12th, 2023: Motul, one of the world’s leading companies specializing in the formulation, production, and distribution of high-tech engine oils, has announced the launch of its NGEN range of engine oil in the Middle East. Motul aims to tackle new challenges in the marketplace with this new engine oil that combines sustainability and high performance.

Continue reading Motul launches NGEN range of engine oil in ME, Merging Performance with Sustainability

Winners Announced at Inaugural GPCA Carbon Neutrality Cup

Winners Announced at Inaugural GPCA Carbon Neutrality Cup

Winners were celebrated in a star-studded recognition ceremony as part of the 5th GPCA Responsible Care Conference on 6 September 2023

Manama, Bahrain, 12 September 2023 – The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, announced today the winners of the inaugural GPCA Carbon Neutrality Cup, whose ground-breaking ideas were recognized in a special award ceremony during the gala dinner of the 5th GPCA Responsible Care Conference held in the Ritz-Carlton, Manama, Bahrain on 6 September 2023.

The chemical industry accounts for 30% of total industrial energy use and is the third largest industry in terms of direct CO2 emissions[1]. Yet only about 17% of chemical companies globally have a science-based net-zero target[2]. To help bridge the gap between the chemical industry and academia and encourage the development of more science-based net-zero solutions, GPCA launched a brand-new competition titled the GPCA Carbon Neutrality Cup. The competition attracted 28 bright and innovative ideas from senior undergraduate and postgraduate students in the field of STEM – all aimed at supporting the transition to net-zero across the downstream value chain.

Continue reading Winners Announced at Inaugural GPCA Carbon Neutrality Cup

UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027

UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027

  • In 2022, 25% of the UAE’s financial wealth came from Ultra High Net Worth individuals worth more than USD 100 million, and individuals with wealth between USD 1 million – USD 20 million held another 32%
  • A new BCG report projects that the UAE’s financial wealth will increase from USD 1 trillion in 2022 to USD 1.3 trillion in 2027
  • Equities & investment funds remain the largest asset class in the UAE, making up 58% of total onshore personal wealth in 2022, with bonds expected to have the fastest growth at an 8.4% CAGR between 2022 – 2027
Continue reading UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027