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‘Make it in the Emirates’

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, opening the Make It In the Emirates conference

The Make it in the Emirates Forum supports sustainable economic development, promoting self-sufficiency, localization and resilience in value chains…reports Asian Lite News

The third edition of the ‘Make it in the Emirates’ Forum and its accompanying exhibition kicked off today at the Abu Dhabi Energy Center. The event was organised by the Ministry of Industry and Advanced Technology (MoIAT), in cooperation with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC, and attended by a large number of experts, industrialists, investors, and innovators. The forum is sponsored by 16 national entities and companies.

The exhibition features 44 major industrial institutions showcasing locally manufactured products, as well as innovations and solutions supporting the development of the industrial and technological sectors.

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, opened the forum.

The third edition of the forum builds on the success of the previous two editions, which supported the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn. They helped strengthen the country’s position in priority, vital and future industries, raising the global competitiveness of Emirati products, enhancing the UAE’s investment environment, and encouraging innovation and advanced technology adoption in industry.

The Make it in the Emirates Forum supports sustainable economic development, promoting self-sufficiency, localization and resilience in value chains. It empowers Emirati talent to take advantage of opportunities in the industrial and technology sector and build careers in emerging industries. Ultimately, the forum helps boost the growth and competitiveness of UAE industries, especially through advanced technology, Fourth Industrial Revolution solutions and AI applications.

This year’s edition will address various topics related to the industrial sector, such as artificial intelligence, the space sector, and more, through dialogue sessions and panel discussions. Additionally, new initiatives, benefits, and enablers for the industrial sector will be announced designed to enhance the role of the industrial sector in the UAE.

In his opening speech, Dr. Al Jaber emphasised that since its establishment in 2020, the ministry has been working towards achieving the goals and realizing the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to enhance the role of the industrial sector in sustainable economic development. The aim has been to unify efforts among stakeholders, provide key enablers, create a highly-developed industrial system, establish strong regulatory and legislative capabilities, create an attractive investment environment and localize supply chains. The ministry has also been working to drive self-sufficiency by providing for the nation’s basic product needs, ensuring the continuity and agility of industry, and creating a positive tangible economic and social impact.

Dr. Al Jaber expressed appreciation for the direct support of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, in promoting local manufacturing of essential products.

MoIAT launched the National Strategy for Industry and implemented a series of strategic initiatives most notably the update of the Industry Regulation and Development Law, the creation of new enablers and incentives, the launch of National In-Country Value Program (ICV), import substitution project, the Technology Transformation Program, the Make it in the Emirates Forum, the Made in the UAE brand, the launch of I4.0 enablement centers, the Champions 4.0 Network, the development of the R&D framework, the Industrial Census project, the Industrial Decarbonization Roadmap and the Industrialist Program.

He said: “These initiatives and programs focused on enhancing national achievements and leveraging the country’s competitive advantages to create investment opportunities that contribute to the growth of local industry. We also focused on supporting local products with enablers, financing solutions, and providing demand through off-take agreements to spur investment, growth, innovation, technological transformation, and sustainability. We also focused on creating private sector job opportunities for citizens through the National In-Country Value Program (ICV) and the Industrialists Program. I would like to thank all our partners in the Ministry of Human Resources and Emiratisation, Nafis, ADNOC, and companies such as Ali & Sons, Al Masaood Energy, NAFFCO, IFFCO, Abdul Jalil Al Asmawi Group, Emirates Food Industries, Schlumberger, Baker Hughes, Weatherford, and other partners. I invite all our partners to leverage and expand on these opportunities.”

He added: “Through these initiatives, we are focused on raising the industrial sector’s contribution to GDP to more than AED 300 billion by 2031. By the end of 2023, the value of the industrial sector’s contribution to the GDP reached AED 197 billion, an increase of 49% compared to 2020. UAE industrial exports rose to AED187 billion, a 60% increase compared to 2020, and we recorded a 70% growth in flexible financing solutions for the industrial sector, reaching AED 6 billion compared to 2022. Additionally, we launched the Industrialists Exhibition, which contributed to employing 505 citizens in its first edition and provided 885 job opportunities for citizens in its second edition, including 150 positions for people of determination. We aim to reach more than 2,000 jobs by the end of this year.”

His Excellency said: “The number of Emiratis employed in companies registered under the National In-Country Value Program (ICV) in the private sector reached 16,000. The ministry’s partners, including ADNOC, national companies, and local and federal government entities, have played a key role in achieving this result. Since the launch of this program, more than AED 237 billion has been redirected to the national economy, including AED 67 billion in 2023 alone. During the second edition of the Make it in the Emirates Forum, we introduced a list of 1,400 products that can be manufactured locally in collaboration with 12 strategic partners, with a total value of AED 120 billion. We have executed 52% of the targeted offtakes for the next ten years, exceeding AED 62 billion and including essential sectors and products such as medicines, medical supplies, plastics, rubber, textiles, ceramics, metals, pipes, drilling and production equipment, control and monitoring systems, drilling fluids, foodstuffs, electrical and mechanical equipment, electronics, chemical and petrochemical products, manufacturing and wood industries, building materials, and other essential consumer products. I would like to thank our national companies that have provided these opportunities, including ADNOC, PureHealth, Etihad Airways, Emirates Steel Arkan, e&, Emirates Global Aluminium. I look forward to recognizing even more national companies for their direct contributions in the coming year.”

Regarding competitive financing for industry, HE Dr. Al Jaber said: “The value of financing resulting from the ministry’s initiatives reached AED 10 billion between 2021 and 2023, providing in partnership with the Emirates Development Bank, as well as national financial institutions like First Abu Dhabi Bank and Mashreq Bank.”

He added: “We have also implemented a program to accelerate technological transformation in the industrial sector and stimulated high-tech industries through financing solutions valued at AED 1.5 billion last year. Our high-tech national exports increased from AED 2.9 billion in 2020 to AED 3.5 billion in 2023.”

Touching on the announcements being made in the third edition of the forum, he said: “This edition will announce more significant and quality investment opportunities, partnership and manufacturing agreements, and additional enablers and financing solutions. One of the most important announcements is an additional AED 23 billion in off-takes, raising the total value to AED143 billion for over 2,000 products, including AED 20 billion from ADNOC and AED3 billion from PureHealth. Moreover, there will be investments in new industrial projects worth AED 20 billion and financing solutions for the industrial sector (in partnership with the Emirates Development Bank and commercial banks, valued at AED 1 billion, to empower SMEs. Additionally, competitive electricity prices will be provided for industrial companies in Ajman, Ras Al Khaimah, Umm Al Qaiwain, and Fujairah, in cooperation with the Ministry of Energy and Infrastructure and the Etihad Water and Electricity, who we thank for their cooperation and efforts. Furthermore, the AI in Industry Innovation Program will be launched, funded by the Emirates Development Bank, with a value of AED 370 million to support startups.”

Regarding future challenges, Dr. Al Jaber said: “Despite global economic challenges, geopolitical tensions, and the impact of climate change on supply chains, we strive to be well-prepared, proactive, adaptable, and resilient to turn challenges into opportunities. With the support of our leadership and the concerted efforts and contributions of partners from both the public and private sectors, we have succeeded in building a resilient economy capable of adapting to changes.”

He added: “We value our partners’ opinions and rely on their communication to elevate our industry and support our national economy, localize vital industries, enhance supply chains, and strengthen the country’s position and competitiveness.”

He also highlighted the role of AI as one of the country’s most important strategic directions, which is the focus of partnerships to develop skills, applications, and solutions in manufacturing to drive innovation, efficiency, cost reduction, productivity, and competitiveness.

He concluded: “We want to continue this momentum and positivity throughout the year, continuing to seize the available investment opportunities through the list of off-takes, with more than AED 81 billion currently allocated for local manufacturing. As well as leveraging these opportunities, we remain committed to implementing the leadership’s vision by developing human capacities, supporting youth, and providing job opportunities.”

He invited businesses, government entities, and young citizens to explore the opportunities available at the forum. He noted that the ministry’s teams and their partners are ready to provide support and guidance to help companies and individuals seize the opportunities presented at the forum.

“Rest assured, our teams and partners are prepared to support and guide you in seizing these opportunities to expand your operations and achieve our shared objectives. Together, we will enhance the growth of local manufacturing and ensure the flexibility and resilience of our supply chains. Our collective efforts will support the continuity and sustainability of our operations and achieve a positive sustainable economic impact.”

The event was attended by Viacheslav Iarin, Minister of International and Foreign Economic Relations of the Sverdlovsk Region, Russian Federation; Amna Al Dahak, Minister of Climate Change and Environment; Sarah Al Amiri, Minister of State for Public Education and Advanced Technology; Mohammed Fadel Al Mazrouei, Minister of State for Defence Affairs; Faisal Abdulaziz Al Bannai, Advisor to President for Strategic Research and Advanced Technology Affairs; Eng. Awaidha Murshed Ali Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE); and Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), alongside a number of senior officials from federal and local authorities, and several heads of leading local, regional, and international companies.

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Emirates soars to record profits

The Group’s cash balance was AED47.1 billion (US$ 12.8 billion), the highest ever reported, up 11% from last year….reports Asian Lite News

The Emirates Group released its 2023-24 Annual Report, hitting new record profit, revenue, and cash balance levels. Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations around the world to meet strong customer demand for its high-quality products and services.

For the financial year ended 31st March 2024, the Emirates Group posted a record profit of AED18.7 billion (US$ 5.1 billion), up 71% compared with an AED10.9 billion (US$ 3.0 billion) profit for last year. The Group’s revenue was AED137.3 billion (US$ 37.4 billion), an increase of 15% over last year’s results.

The Group’s cash balance was AED47.1 billion (US$ 12.8 billion), the highest ever reported, up 11% from last year.

Combined Group profits for the last 2 years, at AED29.6 billion, surpass pandemic losses of AED25.9 billion during 2020-2022.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group, said, “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.

Huge credit is also due to the UAE’s visionary leaders, especially His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group is able to flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”

Sheikh Ahmed added, “The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders.”

He said, “We enter our 2024-25 financial year on strong foundations for continued growth. Emirates will receive delivery of 10 new A350 aircraft in 2024-25, adding to our fleet mix and supporting the next phase of its network growth. dnata will continue to leverage synergies and scale across its business divisions to grow its footprint and capabilities. In tandem, we are investing resources to minimise our environmental impact, develop our people, look after our customers and the communities we serve.”

He added, “Looking further ahead, the Dubai government has announced plans to start the next phase of expansion at Al Maktoum International Airport, which will eventually be the new hub for Emirates and dnata’s operations. This AED128 billion (US$ 35 billion) investment will significantly expand and enhance Dubai’s aviation and logistics infrastructure, supporting the city’s growth, and Emirates’ and dnata’s growth.”

Emirates’ total passenger and cargo capacity increased by 20% to 57.7 billion ATKMs in 2023-24, recovering to near pre-pandemic levels.

The airline hit a new record profit of AED17.2 billion (US$ 4.7 billion) exceeding last year’s AED10.6 billion (US$ 2.9 billion) result, with an exceptional profit margin of 14.2%, marking it the best performance in the airline’s history.

Emirates carried 51.9 million passengers (up 19%) in 2023-24, with seat capacity up by 21%.

The cargo division reported a solid revenue of AED13.6 billion (US$ 3.7 billion), contributing 11% to the airline’s total revenue.

At the end of 2023-24, Emirates’ SkyCargo’s total freighter fleet stood at 11 Boeing 777Fs. The cargo division expects delivery of its 5 additional Boeing 777Fs on order from mid-2024.

Emirates continued to meet all its regular aircraft-related payment obligations and repaid an additional AED2.2 billion (US$ 596 million) from the AED17.5 billion (US$ 4.8 billion) borrowed during the COVID-19 crisis.

Emirates closed the financial year with its highest-ever level of cash assets at AED42.9 billion (US$ 11.7 billion), 15% higher compared to 31st March 2023.

dnata increased its profit by 330% to AED1.4 billion (US$ 387 million) in 2023-24, reporting solid results across its business divisions.

dnata’s total revenue increased by 29% to hit a new record of AED19.2 billion (US$ 5.2 billion), driven by increased flight and travel activity across the world.

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DET, Emirates sign partnership agreement

The latest development underlines their respective commitment to achieving the goals of the Dubai Economic Agenda, D33…reports Asian Lite News

The Dubai Department of Economy and Tourism (DET) and Emirates have signed a strategic partnership outlining joint initiatives to intensify international efforts and bolster Dubai’s mindshare as a hub for trade, tourism and investment.

Building on both entities’ long-standing partnership and success in tourism promotion, this latest development underlines their respective commitment to achieving the goals of the Dubai Economic Agenda, D33, and to further enhance the city’s status as a leading destination for business and leisure.

The agreement was formalised on the sidelines of Arabian Travel Market in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, and Helal Saeed Almarri, Director-General of Dubai Department of Economy and Tourism. The agreement was signed by Issam Kazim, Chief Executive Officer of Dubai Corporation for Tourism and Commerce Marketing (DCTCM), and Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer.

Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing (DCTCM), said, “Driven by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, DET is committed to developing and leveraging partnerships that can contribute towards achieving the city’s ambitious D33 goals. DET and Emirates have already built a powerful collaborative relationship in recent years, and this new MoU further enhances our ability to reach, engage with, and attract business audiences around the world. A key driver of Dubai’s tourism and wider economic growth has been the city’s international connectivity, propelled by Emirates’ global network and reputation as a leading airline, and we look forward to continuing to work closely with Emirates to make Dubai the best city to visit, live and work in.”

Adnan Kazim remarked, “Dubai is already a magnet for so many international companies, entrepreneurs and family businesses with its business and investor-friendly climate and landscape, favourable trading conditions and high-standards of living. We’re committed to elevating Dubai’s global economic hub status with our partners at DET to increase its visibility across our network of over 140 cities and beyond through a gamut of promotional activities. We’re also working hard to grow our network and connectivity to complement Dubai’s already formidable trade map. DET’s and Emirates’ coordinated and robust strategy will support our visionary leadership’s goals of doubling the size of Dubai’s economy over the next decade and reinforce its position amongst the top three global cities.”

The strategic partnership will see both entities come together to promote Dubai’s robust business ecosystem, strategic location, unparalleled connectivity to key catchment regions, business-friendly policies and processes, ultra-modern infrastructure, and innovation-led economy. They will target corporates, multinational companies, prominent family businesses, and global investors, positioning Dubai as an ideal hub for businesses looking to tap into rapidly growing economies.

The partnership covers a wide range of initiatives where the two entities can collaborate and complement each other’s efforts; these include marketing campaigns to showcase the city as a key transit point for cargo and passengers, access to a wide range of services and solutions to streamline global logistics operations, and the sharing of market insights to further build awareness and favourability of Dubai as a hub for business, trade and investment. They will also work together on a series of events to strengthen relationships with the international business community, with Emirates becoming ‘Preferred Airline Partner’ at these global exhibitions and conferences.

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Eid Al Fitr: Emirates expands flight schedules

With families coming together to celebrate after the Holy Month, the airline will also be adding four additional flights onto Amman and two additional flights for Beirut scheduled to accommodate for more travellers…reports Asian Lite News

Emirates will be expanding its schedules across the region with 19 additional flights during the upcoming Eid Al Fitr holiday period.

This year, more than 150,000 customers are expected to fly with the airline during Eid Al Fitr across the region, with additional flights planned from Jeddah, Kuwait, Beirut and Amman.

Emirates will add an extra seven flights to Jeddah from 7-13 April. The additional flights will provide Emirates customers with more flexibility to venture out to popular destinations like Dubai, London, the Maldives, or visit family and friends in Colombo and Karachi.

In Kuwait, Emirates will be layering on six extra flights between 7-20 April, catering to the significant travel demand during that time to popular leisure gateways like Dubai, Bangkok, Osaka, as well as providing the opportunity for travellers to head home to Chennai, Hyderabad, Sialkot and Peshawar. Emirates’ flight schedule to Bahrain will also expand to 22 weekly flights starting 2 May to meet increased demand for travel to/from the Kingdom.

With families coming together to celebrate after the Holy Month, the airline will also be adding four additional flights onto Amman and two additional flights for Beirut scheduled to accommodate for more travellers.

Upholding Eid traditions and keeping in with its proud Middle Eastern heritage, the airline will be serving a specially crafted Eid menu for customers for flights departing from Dubai. Favourites like chicken biryani and lamb kibbeh labanieh, machbous and vanilla and rose mousse cake will be served onboard, among other savoury and sweet dishes.

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Emirates, flydubai in $63B Boeing Deal

HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Ruler of Dubai at the Emirates stand, on the first day of Dubai Air Show. (Photo: Emirates)

flydubai places $11 billion order for 30 Boeing 787 Dreamliners while Emirates placed a whopping $52 billion wide-body aircraft order….reports Asian Lite News

The Dubai-based carrier, flydubai, and Boeing, announced flydubai’s commitment to purchase 30 Boeing 787-9 Dreamliners worth $11 billion as the airline diversifies its fleet with the introduction of wide-body aircraft, while Emirates placed a whopping $52 billion wide-body aircraft order at Dubai Airshow 2023.

Commenting on the milestone announcement, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said, “in 2008 when we placed our first ever order for 50 Boeing 737 aircraft, we were confident of the vital role flydubai would play in supporting Dubai’s aviation hub. I am proud today to see flydubai evolve further, surpassing labels and challenging the traditional conventions around travel. Today’s order reaffirms flydubai’s commitment to enabling more people to travel across its expanding network. The highly fuel-efficient Boeing 787 Dreamliner will allow flydubai to expand its horizon and cater to the growing demand on existing routes.”

Meanwhile, Emirates opened the Dubai Airshow 2023 with a significant order for 95 additional wide-body aircraft, taking its total order book to 295 aircraft.

Already the world’s biggest operator of wide-body passenger aircraft, Emirates has committed to additional Boeing 777-9s, 777-8s, and 787s, worth US$ 52 billion, to power its growth plans, maintain a modern efficient fleet, and deliver the best flying experience to its customers.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said, “From day 1, Emirates’ business model has been to operate modern and efficient wide-body aircraft capable of carrying large numbers of travellers comfortably and safely, over long distances to and via Dubai. Today’s aircraft orders reflect that strategy.

“These additional aircraft will enable Emirates to connect even more cities, supporting the Dubai economic agenda D33 set out by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to add 400 cities to Dubai’s foreign trade map over the next decade. By the early 2030s, we expect the Emirates fleet to be around 350-strong, connecting Dubai to even more cities around the world.”

Emirates, already the world’s largest operator of Boeing 777 aircraft, has signed firm orders for 55 additional 777-9s and 35 777-8s. This takes the airline’s 777-X order book to a total of 205 units.

Emirates also confirmed an order of 202 GE9X engines to power the additional 777X aircraft ordered today, taking its total GE9X engine order to 460 units.

From its previous order of 115 units, the first 777-9 is expected to join Emirates’ fleet in 2025. Today’s additional orders mean Emirates will induct new 777-9s to its fleet until 2035.

With this latest order, Emirates is also set to be one of the launch customers of the 777-8 passenger variant, with first deliveries expected in 2030.

H.H. Sheikh Ahmed said, “Emirates is the biggest operator of Boeing 777 aircraft, and today’s order cements that position. We’ve been closely involved in the 777 program since its start up until this latest generation of 777X aircraft. The 777 has been central to Emirates’ fleet and network strategy of connecting cities on all continents non-stop to Dubai. We are pleased to extend our relationship with Boeing and look forward to the first 777-9 joining our fleet in 2025.

“This order is an incredible vote of confidence in the efficiency and versatility of the 777X family to meet Emirates’ needs for global long-haul travel,” said Stan Deal, President and CEO of Boeing Commercial Airplanes. “The 777-9 and 777-8 are the perfect airplanes to support Emirates’ growth plans, improving environmental performance and unmatched payload capability.”

The 777 remains the backbone of Emirates’ operations, capable of missions of up to 18 hours that enable the airline to connect Dubai non-stop to cities on six continents. The new 777-9s and 777-8s will replace Emirates’ retiring 777 aircraft, and provision for the airline’s future growth plans.

Emirates has also updated its previous order of 30 Boeing 787-9s, increasing its commitment to a total of 35 Dreamliners comprising: 15 Boeing 787-10s, and 20 Boeing 787-8s.

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‘Icons of the UAE’ Awards Celebrate Indian Entrepreneurs in the Emirates

Dr. Bu Abdullah, Chairman of Bu Abdullah Group, received a special award as ‘The Rising Emirati Businessman of the Year.’…reports Asian Lite News

The ‘Icons of the UAE’ awards ceremony, organized by NKN Media and the India Today Group, brought together 16 exceptional Indian entrepreneurs based in the United Arab Emirates (UAE) to acknowledge their significant contributions to the UAE’s business landscape and community. The prestigious event took place at Taj Exotica, the Palm, Dubai, with Dr. Shashi Tharoor as the distinguished guest of honor.

Dr. Shashi Tharoor, a prominent Indian politician, diplomat, and acclaimed author, expressed heartfelt appreciation for the honorees, stating, “Though NRI traditionally signifies ‘Non-Resident Indian,’ in my view, they equally embody the essence of being the ‘National Reserve of India. Their remarkable journeys inspire everyone, especially Indians worldwide, reflecting their enduring impact and unwavering passion.”

The event featured India Today’s leading anchors, including Rajdeep Sardesai, Sweta Singh, Anjana Om Kashyap, and Nabila Jamal, who contributed insightful perspectives and engaging presence to the occasion.

The illustrious list of awardees included Paras Shahdadpuri, Chairman of Nikai Group of Companies; Rizwan Sajan, Chairman and Founder of Danube Group; Dr. Dhananjay Datar, Chairman and Managing Director of Adil Trading Company; Naresh Kumar Bhawnani, Group Founder & Chairman of Westzone; Dr. Thumbay Moideen, Founder and President of Thumbay Group; Prashant Goenka, Director of Emami; Dr. KP Hussain, Chairman and Managing Director of Fathima Healthcare Group; and Yogesh Mehta, CEO of Petrochem Middle East.

The award ceremony continued with the recognition of Praveen Sharma, Founder and CEO of Meteora Developers; Abdulla Ajmal, CEO of Ajmal Group; Ankur Aggarwal, Founder and CEO of Bricks N Woods; Madhur Kakkar, Executive Director of Century Financial and Partner at Quantl AI; Nasir Syed, Founder and Chairman of CHS Group; Jamsheer Poozhithara, Director of Scribe Management Consultancy and Managing Partner at Global Chartered Accountants; Harsh Patel, Founder and Global CEO of Water and Shark; and Ravinder Soni, Founder and CEO of BlueChip Group of Companies.

Dr. Bu Abdullah, Chairman of Bu Abdullah Group, received a special award as ‘The Rising Emirati Businessman of the Year.’

In addition to the celebrations, Abdul Majid Khan, CEO of NKN Media, announced, “Thanks to the immense success of the premiere season, NKN Media and India Today Group are launching season 2 that will proudly feature the journeys of 20 visionary leaders, recognizing their impact on the UAE’s business landscape and community.”

Viewers can experience the remarkable narratives of these iconic figures through 30-minute episodes airing on India Today and Aaj Tak, starting this October.

Harsh Patel Receives Top UAE Honor

Harsh Patel, the Founder and Global CEO of Water and Shark, was honored as the youngest recipient of the prestigious ‘Icon of the UAE’ award. The award ceremony, organized by NKN Media and the India Today Group, took place in Dubai on September 27th, with Dr. Shashi Tharoor presenting the award.

At just 19, Patel founded Water and Shark to provide comprehensive financial and legal solutions for global businesses. His integrated approach has earned him accolades like Forbes India’s “Top 100 Peoples Manager and Leader by Example.”

Patel expressed his gratitude during the ceremony, emphasizing his commitment to showcasing the potential of ‘Made in India’ on a global scale.

Other recipients of the award included prominent figures like Paras Shahdadpuri, Rizwan Sajan, Dr. Dhananjay Datar, Naresh Kumar Bhawnani, Dr. Thumbay Moideen, Prashant Goenka, Dr. KP Hussain, Yogesh Mehta, and Dr. Bu Abdullah, who received the ‘Rising Emirati Businessman of the Year’ award.

Under Patel’s dynamic leadership, Water and Shark, a global accounting and legal advisory firm, has expanded its presence significantly in the UAE and other countries. The firm also explores cutting-edge technologies like Artificial Intelligence and neo-banking solutions.

In addition to his entrepreneurial pursuits, Patel is a regular contributor to Forbes Council and is set to release his book titled “Fundamentals of UAE Corporate Tax.”

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Emirates and United activate codeshare partnership

Emirates customers heading to the U.S., can now look forward to access to more than 150 U.S. cities in the United network, via the three gateways….reports Asian Lite News

Emirates and United have activated their codeshare partnership, allowing Emirates customers to enjoy easier access to an expanded choice of U.S. destinations.

Starting today, Emirates customers will be able to fly to three of the nation’s biggest business hubs – Chicago, Houston or San Francisco – and connect easily to an expansive network of domestic U.S. points on flights operated by United.

With the launch of the partnership, Emirates customers heading to the U.S., can now look forward to access to more than 150 U.S. cities in the United network, via the three gateways.

Similarly, Emirates customers in the U.S. planning trips to Dubai and beyond have a myriad of choices and can utilise United’s services to easily connect to Emirates operated flights bound for Dubai, via Chicago, Houston or San Francisco.

The partnership unlocks a host of popular destinations accessible from Emirates gateways such as Atlanta, Austin, Denver, Minneapolis and Phoenix. Emirates passengers planning trips to destinations such as Detroit, can fly direct from Dubai to Chicago or Houston, and simply connect on a United flight to the final destination, while enjoying the hassle-free flight benefits. The reciprocal benefits extend to passengers flying out of the U.S. using Emirates services to fly to Dubai, with the same easy access from a vast network of domestic cities and connection at one of the three hubs.

Adnan Kazim, Emirates’ Chief Commercial Officer, commented, “We are extremely delighted to activate this historic partnership with United and significantly expand our footprint in the U.S. United’s vast network across the Americas will help us to offer more choice to our customer base from across the globe, and meet demand from across segments including the leisure, VFR, corporate travellers and students who can now connect seamlessly to and from a broader network of more than 150 domestic points.”

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Emirates literature foundation appoints new chief executive officer

Before that, Ahlam spent over four years working in marketing roles at Jumeirah group where she oversaw all aspects of marketing and communications…reports Asian Lite News

Dubai, UAE, 15 March, 2023: The Emirates Literature Foundation Board of Trustees has announced the appointment of Ahlam Bolooki as their new Chief Executive Officer, effective immediately. She takes on the responsibility in addition to her current role as Director, Emirates Airline Festival of Literature and Managing Director, ELF Publishing. Bolooki succeeds Isobel Abulhoul, the founder of the Emirates Literature Foundation. To support the transition, Abulhoul will remain with the Foundation as an advisor and trustee of the board.

“I could not be more grateful to take over the reins as CEO of the Emirates Literature Foundation from Isobel, the opportunity to learn from her over the past four years has been one of the greatest privileges of my life,” says Ahlam Bolooki. “My goal in leading this organisation is to build on the Foundation’s legacy and use it as a stepping stone to reach greater heights of success. Since its incorporation, the Foundation has expanded beyond being an organiser of an annual literary festival to being an integral part of the cultural ecosystem of the UAE with an emphasis on literacy and on promoting local talent on the global stage. I look forward to leading the next chapter in the Foundation’s story.”

Isobel Abulhoul said, “I am delighted to hand over the Foundation to Ahlam’s capable hands. She’s young, she’s passionate and she has proven herself by spearheading new initiatives and projects that feed into the organisation’s strategic growth in a successfully and sustainable manner. As the Foundation enters its second decade, our mission remains the same, to spread the love of reading. Ahlam’s leadership will be instrumental in steering the team forward in this new phase and I will be happy to support in the role of advisor.”

Prior to joining the Emirates Literature Foundation, Ahlam Bolooki was the Head of Regional Campaigns at Dubai Tourism where she was responsible for supporting His Highness Sheikh Mohammed Bin Rashid Al Maktoum’s vision to strengthen Dubai’s position as a world-leading tourism destination. Before that, Ahlam spent over four years working in marketing roles at Jumeirah group where she oversaw all aspects of marketing and communications.

The Emirates Literature Foundation is a not-for-profit organisation which supports and nurtures a love of literature, with a focus on Arabic language, in the United Arab Emirates and the region, through a programme of varied cultural initiatives.

The Foundation was established in 2013 by Royal Decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and is home to the Emirates Airline Festival of Literature, the Middle East’s largest celebration of the written and spoken word, held in partnership with Emirates Airline and the Dubai Culture & Arts Authority.

More information about the Emirates Literature Foundation can be found online. Fans can keep up to date with #ELFDubai news on Facebook, Twitter, Instagram, YouTube, TikTok and LinkedIn.

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UAE News

Emirates announces A380 flypast with Red Arrows

Opportunities for media and the public to spot the aircraft will be approximately between the hours of 12pm and 1pm (local Dubai time) across different vantage points…reports Asian Lite News

The Emirates A380 will be performing a flypast with the RAF Red Arrows this Thursday 17 November at midday to celebrate the official kick-off of the DP World Tour Championship. The Emirates A380 and six Red Arrow aircraft will fly in a synchronised formation, starting at Jumeirah Golf Estates, then continuing along the Sheikh Zayed Road skyline and near the iconic Burj Khalifa.

Opportunities for media and the public to spot the aircraft will be approximately between the hours of 12pm and 1pm (local Dubai time) across different vantage points nearby Jumeirah Golf Estates, Sheikh Zayed Road, Downtown Dubai and its surrounding areas.

While Emirates and the RAF Red Arrows encourage the public to take photos and videos of the air display, people are reminded not to put the formation flight at risk by using drones and to comply with all GCAA guidelines pertaining to ‘no fly zones’ for unmanned aircraft/drones.

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Emirates flies into Dh4.2bn profit

The Group closed the first half year of 2022-23 with a strong cash position of AED32.6 billion (US$8.9 billion) on 30th September 2022…reports Asian Lite News

Emirates Group on Thursday announced its half-year results for its 2022-23 financial year, reporting a record net profit of AED4.2 billion (US$1.2 billion), a turnaround of some AED10 billion from its AED5.7 billion (US$1.6 billion) loss for the same period last year.

The Group also reported an EBITDA of AED15.3 billion (US$4.2 billion), a marked improvement from AED5.6 billion (US$1.5 billion) during the same period last year, illustrating its strong operating profitability.

Group revenue was AED56.3 billion (US$15.3 billion) for the first six months of 2022-23, up 128 percent from AED24.7 billion (US$6.7 billion) last year, driven by the strong demand for air transport across the world with the further easing and removal of pandemic-related travel restrictions.

The Group closed the first half year of 2022-23 with a strong cash position of AED32.6 billion (US$8.9 billion) on 30th September 2022, compared to AED25.8 billion (US$7.0 billion), as on 31st March, 2022.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said, “The Group’s record performance for the first six months of 2022-23 is the result of forward planning, agile business response, and the efforts of our talented and committed workforce.

“Across the Group, our operations recovery accelerated as more countries eased and removed travel restrictions. We were ready and amongst the first movers to serve the strong customer demand thanks to our robust business plans, the support of our industry partners, and our ongoing investments in people, technology, and products and services.

“For the coming months, we remain focussed on restoring our operations to pre-pandemic levels and recruiting the right skills for our current and future requirements. We expect customer demand across our business divisions to remain strong in H2 2022-23. However, the horizon is not without headwinds, and we are keeping a close watch on inflationary costs and other macro-challenges such as the strong US dollar and the fiscal policies of major markets,” he added.

In line with increased capacity and business activities, the Emirates Group’s employee base, compared to 31st March, 2022, grew 10 percent to an overall count of 93,893 at 30th September 2022. Both Emirates and dnata have also embarked on targeted recruitment drives to support their future requirements.

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