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Abu Dhabi private sector achieves remarkable growth

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In 2023, the private sector continued its strong growth, reaching AED 338.9 billion, up 35% compared to 2016. Supported by private sector and family-owned businesses, Abu Dhabi non-oil sectors is going from strength to strength…. reports Asian Lite News

The Abu Dhabi Department of Economic Development (ADDED), in collaboration with the Abu Dhabi Investment Office (ADIO), organized the second edition of the Al Multaqa quarterly meetings, aiming to strengthen partnerships with the private sector and family offices. The meetings provided the business community with updates on the Emirate’s economy and achievements in 2023, while also emphasizing future opportunities.

Launched in Q4-2023, Al Multaqa Meetings empower Abu Dhabi’s to accelerate economic growth, by providing a platform for ongoing dialogues to support investment and the development of new policies that further enhance the Emirate’s business environment.
In 2023, the private sector continued its strong growth, reaching AED 338.9 billion, up 35% compared to 2016. Supported by private sector and family-owned businesses, Abu Dhabi non-oil sectors is going from strength to strength, recording a growth of 9.1 per cent during 2023 to AED 610 billion to contribute 53.4% of total real GDP.

Addressing Al Multaqa meeting, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: “The importance of our collaborative efforts is reflected in Abu Dhabi’s growth indicators. Remarkably, we managed to achieve this strong performance despite global challenges, reflecting the strength and resilience of our ‘Falcon Economy’ and its ability to soar to new heights.”
“Backed by decades-long experience, the private sector and family-owned businesses in Abu Dhabi continue to contribute to economic diversification as evidenced by their share in the highest growing non-oil sectors”.


Family-owned businesses in Abu Dhabi represent 50 per cent of companies in the construction sector, which grew by 13.1 per cent in 2023 compared to 2022, reaching more than AED97 billion; 60 per cent in the finance sector, which rose by 25.5 per cent to AED79 billion; 80 per cent in the wholesale trade sector, which achieved a growth of 7.9 per cent, to reach AED63 billion; and 70 per cent in the transportation sector, which rose by 17.1 per cent during past year.


Al Zaabi added: “In our first meeting, we underlined the crucial role that family offices and private sector play in Abu Dhabi and the UAE’s success. Today, I reiterate the importance of discussing promising opportunities, analyse challenges, and work together to overcome them. We are organising these meetings to ensure the exchange of opinions and to benefit from the extensive experiences and knowledge.”


Abdulla Gharib Alqemzi, Acting Director General of the Statistics Centre – Abu Dhabi, delivered a comprehensive presentation about economic performance of the Emirate during the past 10 years, which saw a 28.5 per cent growth of non-oil GDP, from AED 474.6 billion in 2014 to AED 610 billion in 2023, and a 19 percent rise of total real GDP, from AED 960.1 billion in 2014 to AED 1.14 trillion in 2023.


Alqemzi highlighted major sectors contributing to economic diversification efforts, including manufacturing, construction, finance, trade, transportation, real estate, and ICT.

Abu Dhabi Investment Office (ADIO)’s Musataha Programme revealed several investment opportunities offered to the private sector, enabling investors to develop government-owned land. ADIO also announced investment opportunities in the sports field in different areas of the Emirate in addition to new sites that will be offered to develop feed-selling markets.


ADIO has signed agreement with Dustour Marine Wooden Boats Trading Est. to establish a new state-of-the-art project to support the Emirate’s coastal development in line with urban, social, recreational, and economic expansion plans.


ADDED’s Industrial Development Bureau (IDB) and SMEs sector shared significant updates to further improve ease of doing business and enable the private sector to benefit from ample opportunities provided by development plans.

ALSO READ : Arab Bank Group Posts Impressive 59% Profit Growth

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Arab News Environment UAE News

‘Saba Sanabel’ flour boasting the highest protein content

saba sanabel cultivation

Saba Sanabel flour is grown using a chemical-free process and is fertilised only with natural manure, it has earned five quality and safety accreditation certifications…. reports Asian Lite News

The Sharjah Department of Agriculture and Livestock (SDAL) has announced that the wheat farm located in Mleiha yields “Saba Sanabel” flour boasting the highest protein content globally, exceeding 19 percent.

The success of Sharjah wheat is credited to the initiatives and supervision of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, according to Dr. Engineer Khalifa Al Tunaiji, Chairman of the Department of Agriculture and Livestock.

“Saba Sanabel” is now considered the best type on the planet thanks to its exceptionally high protein content and lack of any fertilisers, pesticides, or other potentially dangerous compounds.

Al Tunaiji attributed the high percentage of Sharjah wheat “Saba Sanabel” produced at the Mleiha wheat farm to the organic farming system. This system helps improve the fertility and content of the soil, which in turn ensures that the wheat grains are of higher quality and type.

He also stressed the need to use desalinated water for irrigation, which is free of contaminants. This results in an increase in grain production and protein content because water speeds up the transfer of dry matter from stems and leaves to grains, a key component in plant development.

Since SDAL’s “Saba Sanabel” flour is grown using a chemical-free process and is fertilised only with natural manure, it has earned five quality and safety accreditation certifications.

Thus, Sharjah wheat is free of toxins and chemical components that could change its nature as a food ingredient or make it more productive. It meets the quality and safety criteria applicable in the UAE, which boosts customer trust and helps it compete in the markets. As a result, it is the first national product to get the “Made in the UAE” logo.

ALSO READ : Sharjah explores trade, investment ties with India

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Business Finance Investment News

Gold prices surged to an all-time high

Spot gold hit $2,304.09 per ounce, remaining steady at $2,299.28 per ounce as of 0343 GMT. Meanwhile, spot silver fell to $27.08 per ounce, platinum edged down to $935.39, and palladium rose to $1,017.83…. reports Asian Lite News

Gold prices surged to an all-time high on Thursday following Federal Reserve officials’ reaffirmation of anticipated interest rate reductions in 2024, as reported by Reuters.

Spot gold was steady at $2,299.28 per ounce as of 0343 GMT and hit a record high of $2,304.09 earlier in the session. Bullion has hit record highs in each session since last week’s Thursday.

Spot silver fell 0.5% to $27.08 per ounce, platinum edged down 0.1% to $935.39 and palladium was up 0.4% at $1.017.83.

ALSO READ :Lanka’s national airline for sale

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Arab News Technology UAE News

New Study Reveals AI’s Transformative Impact on Weather Prediction

Trends Research and Advisory’s new study, ‘AI Skies: Transforming Weather Prediction and Climate Awareness,’ explores AI’s role in significantly enhancing weather forecasting accuracy…. reports Asian Lite News

Trends Research and Advisory has launched a fresh study titled ‘AI Skies: Revolutionizing Weather Prediction and Climate Awareness.’ This research investigates AI’s impact on weather forecasting, demonstrating a remarkable level of precision. Conducted by Noor Al Mazrouei, Head of the AI and Advanced Technology Program at Trends, the study reveals how AI analyzes vast datasets from satellites and weather stations to predict extreme weather events more accurately, thereby enhancing disaster preparedness and risk management.

The advent of AI applications in meteorology has ushered in a new era of personalised weather services, directly catering to the varying needs of different users and industries.

The study highlighted the societal benefits of AI in weather forecasting, such as enhancing the accuracy of weather forecasts, which are essential for sound planning and decision-making across different sectors of society.

The study discussed how artificial intelligence has become a pivotal tool for simplifying and interpreting complex climate data, enabling decision-makers and scientists to make better decisions. It explains the potential of artificial intelligence in raising public awareness of climate change through platforms that translate complex climate data into an easy-to-understand format.

The study concluded that AI not only improves weather forecasting, but fundamentally changes the way we understand and address climate challenge.

ALSO READ : Artificial Intelligence takes centre stage in Davos

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Arab News Asia News Dubai

Eid Al Fitr: Dubai unveils action plan to manage public hygiene

Dubai Municipality stated that it has assigned 2,300 cleaners to oversee hygiene services across the Emirate, who will work in four shifts and will be provided with all the necessary tools and equipment for the field. Additionally, the Municipality has appointed 650 hygiene engineers from the private sector to whom hygiene-related tasks in tourist, industrial, and desert areas have been outsourced…. reports Asian Lite News

During the Eid Al Fitr holiday in Dubai, the municipality announced plans to oversee hygiene and community services, particularly focusing on sustainable waste management. The initiative includes technical programs, action plans, as well as supervisory and field efforts to maintain cleanliness across all roads, highways, residential areas, and public facilities.

As part of its continuous efforts to advance Dubai’s standing as a sustainable and healthy community, Dubai Municipality has put together a comprehensive strategy for integrated waste management. This plan aims to provide the highest standards of quality for hygiene services and operations in the emirate of Dubai throughout the year, and during various events and holidays hosted by the emirate. This is consistent with the Municipality’s objective to ensure that all residents and visitors enjoy the highest quality tourism, leisure and living experiences.

Dubai Municipality stated that it has assigned 2,300 cleaners to oversee hygiene services across the Emirate, who will work in four shifts and will be provided with all the necessary tools and equipment for the field. Additionally, the Municipality has appointed 650 hygiene engineers from the private sector to whom hygiene-related tasks in tourist, industrial, and desert areas have been outsourced. The teams will include approximately 250 supervisory staff to monitor hygiene tasks and complete the closure of emergency field communications.

To preserve the environmental and hygienic conditions of public beaches in the emirate of Dubai, Dubai Municipality has also assigned a field team of 84 members, including 12 supervisors and 72 cleaners, who will work daily in three shifts; to maintain the cleanliness of public beaches in Dubai and enhance their sustainability, while providing a unique experience for beachgoers, including citizens, residents, and visitors, during the Eid holiday.

Furthermore, the Municipality has deployed approximately 752 vehicles and machinery, including 311 heavy vehicles, 158 light vehicles, 176 rental vehicles, 77 heavy equipment attached to hygiene boats, and 30 light equipment, all of which will be available upon request. During the Eid holidays, the average daily programmes for the automated fleet will be 456 to complete the city’s hygiene tasks, deal with complaints and communications as well as implement daily field surveillance programmes.

To keep major roads and highways clean during the first few days of Eid Al Fitr, Dubai Municipality has gathered a workforce made up of 57 cleaners and 5 supervisory and monitoring employees. The team will work in four shifts to cover a total of 2,300 kilometres of the main roads. To effectively handle any emergency that may arise, the Municipality has also developed operational plans to promptly respond to reports and allocate the necessary human and logistical resources for the collection and transportation of waste along the way. The group will also take on the task of cleaning accident sites on external roads and highways.

Dubai Municipality’s waste management teams have effectively carried out cleaning operations across all 10 Eid prayer areas in the emirate. Furthermore, they have placed supplementary rubbish cans near mosques, event venues, crowded areas, along with 30 extra waste storage facilities that are widely spread to cover emergency cases and crowded areas.

The waste disposal and treatment facilities owned by Dubai Municipality, such as the Al Qusais landfill and Bayada dump site, will have set work hours on account of the cleaning operations for Eid Al Fitr holiday. These facilities are scheduled to be open around the clock throughout the holiday season. Additionally, the medical waste incinerator at the Jebel Ali Hazardous Waste Treatment Facility will operate continuously with no disruptions during the Eid Al Fitr holidays.

As part of the initiative, Dubai Municipality will also keep an eye on the operations of private sector firms. All operations are set to be carried out by seven different companies, three of which are in charge of managing cleaning duties and waste segregation in public and residential areas. Two of them will focus on promoting recycling and meeting circular economy requirements, while another firm is dedicated to transporting abandoned vehicles, along with one that specialises in the upkeep of public health facilities.

More importantly, Dubai Municipality has announced that it will now use its official website to provide a range of services and assistance to the public and customers. These services include the ability to request permits for disposing of hazardous waste, commercial waste, and unwanted materials.

Likewise, individuals can submit requests to approve contracts with waste collection and transportation companies, as well as obtain no-objection certificates for infrastructure and construction projects. Another service available is the ability to request the provision or relocation of waste containers. However, it has been stated that the Municipality will temporarily suspend its bulk waste disposal operation during the initial days of Eid Al Fitr, after which it will resume normal operations.

ALSO READ : Dubai Municipality bags top environment award

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Arab News Asia News UAE News

UAE Lauds El-Sisi on Swearing-In Ceremony

UAE Leaders Extend Congratulations to Egyptian President on Swearing-In Ceremony

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has extended congratulations to Egyptian President Abdel Fattah El-Sisi on his swearing-in for a new presidential term… reports Asian Lite News

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has extended congratulations to Egyptian President Abdel Fattah El-Sisi on his swearing-in for a new presidential term.


His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, along with His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, also conveyed similar messages to the Egyptian President.

Emirates Extend Wishes to Egyptian Prez

The Supreme Council Members and Rulers of the Emirates have individually conveyed congratulatory messages for the same.

These messages were sent by Dr. Sheikh Sultan bin Muhammad Al Qasimi of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi of Ajman, Sheikh Hamad bin Mohammed Al Sharqi of Fujairah, Sheikh Saud bin Rashid Al Mu’alla of Umm Al Qaiwain, and Sheikh Saud bin Saqr Al Qasimi of Ras Al Khaimah. Additionally, similar messages were sent by their respective Crown Princes and Deputy Rulers to the Egyptian President.

ASLO READ : UAE, Egypt Presidents meet in Cairo to discuss bilateral ties

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Asia News Business UAE News

UAE Residents Predict Electric and Hybrid Vehicle Takeover in Coming Years

Al-Futtaim Automotive, in partnership with YouGov, revealed survey results indicating strong interest in EV adoption among UAE residents, with 26% considering purchase within a year and 63% aiming to make EVs their primary transport within 6 months to 2 years…reports Asian Lite News

Al-Futtaim Automotive, a key division of the Al-Futtaim Group and the Strategic E-Mobility Partner of COP28, unveiled the results of a comprehensive survey examining the challenges and attitudes of UAE residents toward Electric Vehicle (EV) adoption. Conducted in collaboration with YouGov, the survey gathered insights from 2,008 respondents.

The findings showcased notable shifts in perspectives, highlighting evolving transportation preferences. Notably, 64% of respondents expressed concern about the environmental impact of internal combustion engine (ICE) vehicles, indicating a strong interest in transitioning to electric vehicles in the near future.

Huge Wave Of Interest in EVs

  • 26% of those who currently do not own an EV are interested in purchasing one in the next 12 months, while 50% said ‘maybe’ to consider shifting to an EV in the same period, signaling a growing inclination towards electric vehicles.
  • A staggering 63% plan to make EVs their primary mode of transport within the next 6 months to 2 years, indicating a far swifter move towards sustainable mobility.
  • The huge interest in EVs is also a measure of the strong customer confidence in the UAE’s charging infrastructure growth; 7 out of 10 residents predict that the UAE will have EV charging stations every few kilometres in the next five years.
  • Customers also predicted a widespread electric future in the UAE; nearly one-third of the respondents anticipate that 30–50% of the UAE’s population will be driving EVs or hybrid cars by 2030.

Katib Belkhodja, Customer Centricity Director, Al-Futtaim Automotive, commented on the survey, “Firstly, the results surpassed all our expectations. With 63% of respondents unequivocally choosing to make electric vehicles their primary mode of transportation, the results are not only overwhelmingly positive but also comprehensively reflect the evolving perceptions of the UAE customers towards electric mobility. It was very important for us at Al-Futtaim Automotive to conduct this survey, and get an accurate understanding of the customer mindset, especially against the backdrop of COP28.”

The Survey Also Highlighted Key Barriers To EV Adoption

  • Primary hurdles to EV adoption include safety concerns (49%), servicing costs (44%), lack of charging infrastructure (41%), battery longevity (41%), and resale value (32%).
  • Furthermore, 68% of the respondents believe that EVs are more expensive than regular fuel cars, a factor that could also discourage customers from making the shift.
  • EV charging is a major anxiety trigger, particularly as 44% residents cannot install a charging station at home.

Katib Belkhodja further added: “While there are still some barriers to overcome, the results have strengthened our belief in the e-mobility strategies we are currently pursuing. Our commitment to develop the electric mobility ecosystem – covering a wide EV portfolio, our own charging station (Charge2Moov) as well as e-mobility training for aftersales – directly answers most of the concerns obstructing widespread electric adoption. We are the only automotive group in the region committed to delivering this integrated, end-to-end EV offering, and through this, we are confident that we will be able to accelerate the green transition as well as fulfill our pledge to deliver 50% New Energy Vehicles and install 10% of the country’s charging stations by 2030.”

“Our main objective now is to democratize the EV landscape by offering a wide choice of electric mobility products at diverse price and performance capabilities, and this specifically addresses a key price perception that majority of the customers have with regards to costs of EVs vs. conventional fuel cars.”  

Influential Factors Prompting The Shift To EVs

Faster charging time (54%), more charging stations (54%) advancements in battery technology (54%) and a longer driving range (52%) top the list as the crucial factors that will influence their decisions and encourage more people to switch to electric vehicles.

“This survey not only helps us at Al-Futtaim Group but also the wider industry in clearly underlining the decisive factors that will accelerate sustainable mobility in the UAE”, Katib concluded.

Since 2008, Al-Futtaim Automotive has been focused on steering the green mobility transition in the UAE. The company first introduced alternative propulsion in the UAE, launching hybrid vehicles in collaboration with Toyota, and then later became the first automotive group to hand over a fleet of hybrid vehicles for taxi companies. In the last two years, Al-Futtaim Automotive has accelerated its focus on electric mobility, with numerous groundbreaking initiatives including launching a dedicated new company – Al-Futtaim Electric Mobility Company.

Beyond bringing best-in-class new energy vehicle brands, which include Polestar, Volvo Cars, BYD, Toyota, Lexus, and Volvo Group (heavy-duty electric trucks, buses and construction equipment), Al-Futtaim Automotive has also developed its own UAE-specific charging technology, Charge2Moov, and launched the region’s first IMI-accredited electric mobility training centre to train technicians to become EV experts.

Al-Futtaim Automotive’s e-mobility ecosystem was showcased at COP28, giving audiences within the UAE and the world a chance to experience the growth trajectory of green mobility within the region as well as the tangible products, solutions and innovations that the company is introducing to making sustainable mobility an everyday reality.

ALSO READ : ‘Urgent Course Correction Key to COP28 Renewables Goal’

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Arab News Asia News UAE News

Operation ‘Birds of Goodness’ Continues: 22nd Airdrop Successfully Completed

air drop
Operation 'Birds of Goodness' representative image

The Ministry of Defence’s Joint Operations Command completed the 22nd airdrop in the “Birds of Goodness” effort, delivering 82 tonnes of aid to northern Gaza via UAE and Egyptian Air Force aircraft…reports Asian Lite News

The Ministry of Defence’s Joint Operations Command has finished the 22nd airdrop as part of the “Birds of Goodness” effort.

Two C17 aircraft belonging to the UAE Air Force and a C130 aircraft belonging to the Egyptian Air Force participated in the airdrop operation.

The airdrop was carried out over inaccessible isolated areas in the northern Gaza Strip via three aircraft carrying 82 tonnes of food and relief aid, bringing the total amount of aid airdrops ‏to 1153 tonnes since the beginning of the operation.

The Birds of Goodness operation is part of “Operation Chivalrous Knight 3” to support Palestinian people in the Gaza Strip.

ALSO READ : UAE Lauds ICJ Measures on Gaza Aid

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Abu Dhabi Business UAE News

Abu Dhabi Real Estate Market Flourishes in Q1 2024

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In the first quarter of 2024, Abu Dhabi’s real estate market experienced significant activity, totaling AED15.9 billion in transactions with 5,127 sales and mortgage deals. Data from the DARI platform of the Department of Municipalities and Transport (DMT) highlighted 2,919 sales transactions, totaling over AED9.6 billion, with a mix of ready-made and off-plan units…reports Asian Lite News

During the first quarter of 2024, the Emirate of Abu Dhabi saw a robust real estate market, with transactions totaling AED15.9 billion. This figure encompasses 5,127 sales and mortgage transactions involving a variety of property types, indicating significant activity and investment within the sector.

According to data from the DARI platform of the Department of Municipalities and Transport (DMT) in Abu Dhabi, the emirate logged 2,919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1,167 ready-made real estate units and 1,752 off-plan units.

DARI data showed that the Emirate of Abu Dhabi recorded about 2,208 mortgage deals during Q1, with a total value of AED6.3 billion.
Meanwhile, the top three real estate transactions logged in Abu Dhabi during the past week, with Al Saadiyat Island and Yas Island topping the list of the largest transactions for Aldar Properties projects. The total value of transactions on Yas Island amounted to AED23.5 million, while the one on Al Saadiyat Island totalled AED14.3 million.

ALSO READ : Real Estate Awaits Budget Boost