Home Blog Page 32

MultiBank Group Achieves Record-Breaking Revenue and Exceptional Profit Growth in 2023

By
Sahfy Sahfy
-
MultiBank Group Achieves Record-Breaking Revenue and Exceptional Profit Growth in 2023
MultiBank Group Achieves Record-Breaking Revenue and Exceptional Profit Growth in 2023

MultiBank Group, one of the world’s largest financial derivatives institutions headquartered in Dubai, announces its most successful financial year to date, with an impressive revenue of $306,636,717 in 2023. 

Based on the latest audited financial statements, MultiBank Group achieved a strong 10% revenue increase, growing from $279,523,140 in 2022. This milestone reflects the Group’s effective business strategy, ongoing growth and its commitment to providing exceptional value to clients worldwide. 

Additionally, MultiBank Group reported a remarkable 26% rise in net income from $180,013,709 in 2022 to $226,837,355 in 2023, underscoring the Group’s operational efficiency and reinforcing its position as a global leader in the financial derivatives industry.

Naser Taher, Founder and Chairman of MultiBank Group, commented: “The unprecedented financial success we have achieved this year is a testament to our robust strategic planning and resilience, as well as our ability to anticipate and navigate the complexities of the global financial landscape. The sustained revenue growth and remarkable increase in net income underscore our relentless pursuit of innovation, operational excellence, and client-centric solutions. As we continue to expand our global footprint, we remain steadfast in our commitment to setting new benchmarks in the financial derivatives industry, ensuring that we deliver unparalleled value to our stakeholders and maintain our leadership position in this dynamic market.”

Managing an impressive daily trading volume of over $12.1 billion, MultiBank Group serves a vast and diverse clientele of more than 1 million traders across 90 countries, and is licensed by 15 financial regulators globally. The group is setting new industry standards with its user-friendly online trading platforms, leveraging state-of-the-art technology, while showcasing its commitment to providing cost-effective trading solutions and leading-edge financial products.

TAQA and JERA Close Financing for SATORP Expansion Project

By
Shams
-
TAQA and JERA Close Financing for SATORP Expansion Project

Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utility companies in Europe, the Middle East and Africa together with JERA Co., Inc (“JERA”), Japan’s largest power generation company, today announced the successful financial closing of Najim Cogeneration Company Limited, a new industrial steam and electricity cogeneration plant that will produce electricity and steam for a petrochemical complex located in Jubail in the Eastern Province of the Kingdom of Saudi Arabia. 

The new cogeneration plant will supply up to 475 megawatts (MW) of power and approximately 452 tonnes per hour (TPH) of steam from advanced combined cycle gas fired technology and will be developed by a special purpose entity owned by TAQA (51%) and JERA (49%) on a 25-year build, own, and operate basis extendable by five years on mutual agreement. TAQA and JERA will also undertake the operation and maintenance (“O&M”) of the plant through an O&M special purpose entity.

The plant’s financial closing comes after TAQA and JERA entered into a Power and Steam Purchase Agreement with Saudi Aramco Total Refining and Petrochemical Company (“SATORP”), a joint venture company owned by Saudi Arabian Oil Company (“Saudi Aramco”) and TotalEnergies in March 2024.

Farid Al Awlaqi, Chief Executive Officer, TAQA’s Generation business, said: “We are proud to have reached financial close, an important milestone reinforcing our position as a partner of choice for utility projects of this scale. Representing a cornerstone of our commitment to growth and efficiency, TAQA is proud to take on a developer role as well as the operations and maintenance at the plant, two focus areas for capability expansion for TAQA, as well as adding 475 MW of power generation and 452 TPH of steam generation to our overall capacity. This is our third generation project in the Kingdom of Saudi Arabia and we will be developing an advanced cogeneration steam and power plant using the latest highly efficient J-Class gas turbine technology in partnership with JERA. We are building our track record of excellence as a responsible and reliable operator and lead developer of generation projects.”

Steven Winn, Chief Global Strategist, JERA, said: “Achieving financial close for the SATORP Strategic Expansion Cogeneration plant marks a significant success for TAQA, JERA and SATORP. This key milestone was successfully achieved due to the excellent teamwork of all stakeholders. This project aligns perfectly with our strategy to provide efficient, sustainable, and technologically advanced energy systems, contributing to the Kingdom’s and to our customer’s vision for a sustainable and optimized energy supply. This new cogeneration plant, based on advanced J-class gas turbine technology, is designed to optimize energy efficiency, and reduce environmental impact, and it will play a crucial role in supporting SATORP’s Strategic Expansion operations. By leveraging cutting-edge technology, the plant will ensure reliable and efficient power and steam generation, setting new standards in operational performance and sustainability.”

Featuring state-of-the-art power and steam generation systems, gas and water receiving systems, and gas insulated switchgear interconnections, the plant is designed to meet the stringent efficiency standards imposed by the Saudi Energy Efficiency Center. Moreover, the project has provision for the future installation of a carbon capture plant and is capable of hydrogen cofiring. The SATORP Strategic Expansion petrochemical complex is expected to house one of the largest mixed-load steam crackers in the GCC region.

For media enquiries, please contact: media.hq@taqa.com

About TAQA

Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, water treatment and reuse, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The company’s assets are in the United Arab Emirates as well as Canada, Ghana, India, Iraq, Morocco, Oman, the Netherlands, Saudi Arabia, the United Kingdom and the United States. For more information, please visit: www.taqa.com and follow us @TAQAGroup on LinkedIn, Twitter, Instagram and YouTube.

About JERA Co., Inc.

Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving net zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.

For more details: https://www.jera.co.jp/english

About SATORP

The Saudi Aramco Total Refining and Petrochemical Company (SATORP) is one of the most advanced refineries in the world, with a processing capacity of 460,000 barrels per day of Arabian Heavy Crude to produce petroleum and petrochemical products with a commitment to the highest standards of Health, Safety, and Environment. This world-class refinery was founded by the expertise of the two oil giants, Saudi Aramco and TotalEnergies, located at Jubail Industrial City in the Eastern Province of Saudi Arabia. The founding Shareholders are in the process of a strategic expansion to construct a petrochemical complex that will be integrated with SATORP’s existing refinery for maximum operational synergy.

President El-Sisi Directs the Referral of the National Dialogue’s Recommendations to the Government

By
Sahfy Sahfy
-
President El-Sisi Directs the Referral of the National Dialogue’s Recommendations to the Government
President El-Sisi Directs the Referral of the National Dialogue’s Recommendations to the Government

Following the National Dialogue’s submission of recommendations regarding pretrial detention and criminal justice to the President of the Republic:

President Abdel Fattah El-Sisi directed the referral of the recommendations to the government and the swift implementation of the necessary procedures to effectuate the agreed-upon recommendations, in response to the diverse and specialized discussions of the National Dialogue.

President El-Sisi confirmed: “My response to the recommendations of the National Dialogue emerges from a sincere desire to implement the provisions of the Egyptian Constitution and the National Strategy for Human Rights.”

The President emphasized the need to reduce the maximum duration of pretrial detention and to maintain its nature as a precautionary measure required by the necessity of investigation, rather than allowing it to become a punitive measure. President El-Sisi underscored the necessity to implement the various alternatives to pretrial detention, stressing the importance of material and moral compensation and reparations for those subjected to wrongful pretrial detention.

MOL Pakistan makes 3 new discoveries in the TAL Block with Razgir-1 exploratory well

By
Sahfy Sahfy
-
MOL Pakistan makes 3 new discoveries in the TAL Block with Razgir-1 exploratory well
MOL Pakistan makes 3 new discoveries in the TAL Block with Razgir-1 exploratory well

MOL Pakistan has made 3 significant gas discoveries in the TAL Block, where the company has operated for 25 years and produced hydrocarbons for 19 years. The Razgir-1 exploratory well was spudded on 9 January 2024, and drilled to 3,950 meters. Three successful well tests have been performed so far in 3 separate geological formations. MOL is the operator of the TAL Block and its share is 8.4 % of the volumes produced.

MOL spudded the Razgir-1 well in January 2024 and completed it ahead of the target date while testing operations are in progress to ascertain the full potential of the well.

Gas and condensate were discovered in 3 reservoirs. In total, “Lumshiwal-1 Formation” tested approx. 3800 boepd of gas and condensate. The “Kawagarh Formation” tested at approx. 3000 boepd, while in the “Lockhart Formation”, an approximate flow rate of 3500 boepd was achieved. With production strategy still to be assessed, MOL’s share is expected in the 400-800 boepd range, adding up to cca. 1% to the Group’s total hydrocarbon production.

“By using state-of-the-art technology combined with the creativity of our highly skilled colleagues, MOL Pakistan was able to secure these discoveries in the TAL Block, in a mature area where the company has carried out exploration and production activity for 25 years. This result shows the resilience and professionalism of our team that provides energy supply security in Pakistan for two decades. The new well marks the long-awaited exploration campaign recommencement in the TAL Block and a major milestone for MOL Pakistan. We look forward to the production phase of the project” – said Zsombor Marton, Executive Vice President, Exploration and Production, MOL Group.

MOL Pakistan, a fully owned subsidiary of MOL Group, has been operating in Pakistan since 1999. The Company holds working interests in 4 blocks and operatorship in  the TAL and Margalla Blocks.

MOL made its first hydrocarbon discovery in Pakistan in 2002 and has since announced a total of 13 commercial discoveries, most recently in 2020 in the TAL block with the drilling of Mamikhel South-1 well. Since entering the Pakistani market, MOL has discovered more than 400 million barrels of oil equivalent of proven and probable (2P) reserves in the TAL Block. As the operating shareholder, MOL is responsible for 65 mboepd gross production in the TAL Block. MOL’s partners in the Joint Venture consortium are local O&G companies, OGDCL, PPL, POL and GHPL and MOL’s share is 8.4% of the volumes produced.

MOL Pakistan contributes substantially to the energy security of Pakistan. With the production of 15,000 barrels/day, the company is the 2nd largest condensate producer in the country, 2nd largest in LPG production with 425 metric tons/day and the 5th largest gas producer, extracting 250 million standard cubic feet/day.

The company plays an important role in MOL Group’s international portfolio, representing 7% of the group’s total hydrocarbon production.

ADNOC joins MEIRA conference to promote regional best practice in Investor Relations

By
Sahfy Sahfy
-
ADNOC joins MEIRA conference to promote regional best practice in Investor Relations
ADNOC joins MEIRA conference to promote regional best practice in Investor Relations

ADNOC Group will be the main sponsor of this year’s Middle East Investor Relations Association (MEIRA) conference to be hosted in Abu Dhabi on December 11-12, 2024, in support of the organisation’s aims to promote best practice in investor relations (IR) and corporate governance across the region.

ADNOC’s listed subsidiaries will engage directly with analysts and investors at the conference, which includes a corporate access forum in response to strong interest in the region’s dynamic economies and capital markets.  

Khaled Al Zaabi, ADNOC Group Chief Financial Offer, said: “Through a series of successful, record-breaking IPOs and the growth of our listed subsidiaries, ADNOC Group has significantly contributed to deepening of the GCC equity markets in recent years. At the same time, MEIRA has played a positive role in enabling continuous development of robust capital markets, fostering excellence in corporate transparency, governance, and engagement. We are proud to support this important conference and MEIRA’s progressive agenda.”

CEO of MEIRA, Paolo Casamassima, highlighted the importance of this partnership: “We are privileged to have ADNOC as the main sponsor for this year’s conference. The Group’s leadership and innovation in the energy sector align perfectly with our mission to advance IR and corporate governance best practices in the Middle East. With the active involvement of ADNOC’s listed subsidiaries, this edition is set out to be a standout event for industry professionals across the region. We look forward to working closely with ADNOC and its Group companies to deliver a landmark conference.”

The 16th MEIRA Annual Conference, themed “Bridging Opportunities: Accelerating IR in the Middle Eastern Capital Markets,” will convene key stakeholders from regional listed companies, international corporations, investors, research analysts, IR advisors, and regulatory bodies. The conference will facilitate dialogue among capital market stakeholders, fostering collaboration and driving progress in investor relations across the region. 

Through the corporate access initiative, senior executives and IR professionals will connect directly with investors from both buy-side and sell-side segments. Attendees will engage in insightful panel discussions, presentations, and tailored sessions focused on the latest trends in investor relations, ESG practices, artificial intelligence, and capital market strategies.

Please visit the website, for more information and to register for the conference. 

Dubai Investment Real Estate and Al Mujama unveil 1.2MW solar power plant in Ritaj

By
Sahfy Sahfy
-
Dubai Investment Real Estate and Al Mujama unveil 1.2MW solar power plant in Ritaj
Dubai Investment Real Estate and Al Mujama unveil 1.2MW solar power plant in Ritaj

 In line with the UAE’s Net Zero by 2050 Target and 2050 Clean Energy Strategy, Dubai Investment Real Estate (DIR), a leading real estate developer in the UAE, Al Mujama, a leading Owners Association in the UAE, Yellow Door Energy (“YDE”), the leading sustainable energy provider for businesses in the Middle and Africa, and Clyde Engineering, today successfully inaugurated a 1.2 megawatt-peak solar power system. 

The solar power system is spread across 9 residential buildings in the premier residential community of RITAJ, located in Dubai Investments Park. Over 2,000 solar panels have been installed on the roofs of the buildings, producing 1.9 million kilowatt-hours of clean electricity in the first year of operation, meeting 30% of the buildings’ energy consumption needs. This is equivalent to reducing carbon emission by 756,000 kilograms per year. The project operates under a solar lease, whereby significant cost savings are realized for Al Mujama without expending its own capital investment. 

Mohammed Bin Hammad, Senior Director of Jointly owned Properties at Dubai Land Department commented: “The Dubai Land Department values the inauguration of a 1.2-megawatt solar power plant by Dubai Investment Real Estate, Al Mujama, Yellow Door Energy, and Clyde Engineering. This project aligns with our strategic vision of promoting innovation in the real estate sector, reflecting the foresight of our wise leadership. By utilizing the sun’s energy to meet a significant portion of the needs in the RITAJ residential community, this collaboration between the public and private sectors highlights the importance of joint efforts in achieving sustainability goals and demonstrates how such partnerships can drive impactful change. These advanced solutions support the UAE’s Net Zero by 2050 target and the 2050 Clean Energy Strategy, showcasing our commitment to a more resilient future. We commend all partners for their dedication to environmental stewardship and look forward to more initiatives that contribute to the progress of our real estate sector.”

“Al Mujama is honored to play a key role in advancing the UAE’s sustainable future with the implementation of the solar power system. This initiative not only highlights the Company’s unwavering commitment to sustainability but also delivers significant cost savings for the residents by reducing energy consumption. It sets a new standard for Jointly owned Properties in driving impactful, eco-friendly change. By generating clean energy, we are fostering a greener, more affordable living environment that benefits communities today and secures a healthier, more resilient future for generations to come. Al Mujama is dedicated to leading the way in environmental stewardship and innovation, and we look forward to continuing to set new benchmarks in sustainable residential living”, Obaid Salami, General Manager, Dubai Investment Real Estate. 

Dubai Investment Real Estate is the real estate arm of Dubai Investments, a leading investment company listed on the Dubai Financial Market and Al Mujama is leading the way for Jointly Owned Property in the UAE to implement solar power in its operations. 

Mansoor Serkal, GM of Al Mujama, said, “We are striving to ensure all our communities are operated in the most cost effective and energy efficient manner to provide best possible value to the owners. We have been working hard with our solar developer Yellow Door Energy and our energy consultant Clyde Engineering. To-date, we have already produced savings of over 18% on our community energy costs. We are dedicated to protecting our environment and are proud to have 30% of our energy needs at Ritaj provided by solar power.”

Jeremy Crane, Group CEO of Yellow Door Energy, said, “Yellow Door Energy is honored to partner with Dubai Investment Real Estate and Al Mujama on this solar lease, marking a significant stride in advancing sustainability efforts in the UAE. This milestone is proudly added to our rapidly growing portfolio of successful projects in the UAE and internationally, where we have been awarded 240 megawatts of solar projects. As the leading solar developer in the Middle East and Africa, we are excited to empower businesses to transition to clean energy, lower their electricity costs and actively contribute to the UAE’s Net Zero by 2050 Initiative.” 

Philip Mills, CEO of Clyde Engineering, said, “Clyde Engineering congratulates the forward-thinking management of Dubai investment Real Estate and Al Mujama on the successful completion of the first JOP rooftop solar plant. This project will provide a major improvement in the carbon footprint at the Ritaj Community. This project was implemented with guaranteed solar production and zero capital expenditure from the client. Therefore, it is both a win for the environment and for the owners in Ritaj.”

The inauguration of the solar power plant marks a significant milestone in the journey towards sustainable development and energy efficiency in the UAE’s real estate sector in alignment with the UAE’s Net Zero by 2050 target. The collaboration integrates technological innovation and environmental stewardship to set a precedent for incorporating renewable energy solutions in residential communities and pave the way for more sustainable projects.

 

Scouts from Around the World Shape Future in Cairo

By
Shams
-
During the 43rd World Scout Conference held in Cairo with the participation of representatives from 176 countries

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Ms. Amina J. Mohammed, Deputy Secretary-General of the United Nations and Chair of the UN Sustainable Development Group, to discuss several joint issues during the 43rd World Scout Conference. This conference, hosted by Egypt from August 17 to 23, 2024, is organized by the World Organization of the Scout Movement and hosted by the Egyptian Federation of Scouts and Girl Guides.

At the beginning of the meeting, the Minister of Planning, Economic Development, and International Cooperation welcomed the UN Deputy Secretary-General, highlighting the significance of hosting the World Scout Conference in Egypt and acknowledging the global scouting movement’s role in developing and enhancing the skills of young people to become active citizens capable of positive change.

The UN Deputy Secretary-General congratulated Al-Mashat on her appointment as Minister of Planning, Economic Development, and International Cooperation. She noted the United Nations’ and its agencies’ commitment to strengthening collaborative efforts with Egypt in advancing towards the SDGs and addressing developmental needs in line with Egypt’s vision and priorities.

The meeting also included discussions on the “Summit of the Future” to be held on the sidelines of the 79th United Nations General Assembly and the Egyptian government’s efforts in achieving the SDGs. H.E. Dr. Al-Mashat briefed the Deputy Secretary-General on the ministry’s work areas following the recent merging of the Planning and International Cooperation ministries and the progress in implementing the Egypt – United Nations Sustainable Development Cooperation Framework Agreement (UNSDCF 2023-2027).

Summit of the Future

H.E. Dr. Al-Mashat discussed the objectives of the “Summit of the Future”, scheduled to be held alongside the 79th UN General Assembly next September. She explained that this summit aligns with the start of the new government’s work in Egypt, which has launched an ambitious program aimed at a new and innovative approach to evidence-based policymaking and comprehensive development across all sectors. This approach reflects the political leadership’s vision in sustainable development, fair development finance, and inclusive and sustainable human, economic, and social development, particularly following the recent merger of the ministries in the new government formation.

Innovative Financing Tools

The conversation also addressed the high-level side event at the Summit of the Future in New York titled “Leveraging Innovative Financing Tools to Accelerate Sustainable Development: A Roadmap for Just Development Finance.” In this context, H.E. Minister Al-Mashat discussed Egypt’s efforts in launching the Sharm El-Sheikh Guidebook for Just Financing during COP27 in Sharm El-Sheikh in November 2022, in partnership with several international organizations and entities. The Minister also emphasized that the guidebook aims to promote just financing principles and define the roles and responsibilities of all relevant entities to stimulate developing countries and emerging economies to attract environmentally friendly investments, particularly through private sector projects.

Egypt’s Country Platform for the NWFE Program

The meeting also reviewed Egypt’s Country Platform for the NWFE Program, which represents a practical application of just financing principles and serves as an effective regional model and approach for concessional financing addressing adaptation, mitigation, and resilience issues. This involves 20 development partners, including the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Fund for Agricultural Development (IFAD), the African Development Bank (AfDB), the European Union, the European Investment Bank (EIB), the United States, Germany, France, and others.

Effective Development Partnerships

The importance of fostering effective development partnerships and involving the private sector in achieving sustainable development was emphasized. H.E. Minister Al-Mashat highlighted the need for adopting innovative economic models and just and effective development financing systems to restructure the global financial system. H.E. Dr. Al-Mashat noted that the “Summit of the Future” aims to develop measures for progress in sustainable development.

Moreover, the Minister also pointed out the significance of country platforms in enhancing development and climate action, citing the joint statement by the International Monetary Fund and the World Bank Group on the importance of such platforms as one of the mechanisms for reforming the multilateral development bank system. H.E. Dr. Al-Mashat emphasized that the NWFE program is a practical model of these platforms and reflects Egypt’s significant progress in development and climate action efforts.

“Shabab Balad” Initiative

The meeting also addressed the ministry’s efforts in launching the national version of the UN initiative “Generation Unlimited” under the name “Shabab Balad” to implement development projects in partnership with the private sector, international development partners, and civil society organizations and youth.

Integration of Sustainable Development Goals in Local Development Planning

The discussion further looked into the SDGs, Egypt Vision 2030, and integrating their governing principles into local development planning and national strategies with development partners. It was noted that Egypt has submitted Voluntary National Reviews (VNRs) in 2016, 2018, and 2021, and invested efforts to localize the SDGs in each governorate, with 27 reports released in partnership with the United Nations Population Fund (UNFPA) in 2021. These reports track progress towards achieving the SDGs across different governorates, with the second edition of the reports being prepared in coordination with the Central Agency for Public Mobilization and Statistics and expected to be released in the near future.

Egypt Integrated National Financing Framework (E-INFF)
Al-Mashat outlined that the Ministry of Planning, Economic Development, and International Cooperation has completed the formulation of the Egypt Integrated National Financing Framework (E-INFF). This framework aims to enhance planning processes and financing for SDGs on the national level, identify the full scope of domestic and international financing sources, and enable countries to achieve sustainable development priorities. The ministry plans to launch this framework soon.

WHO honours UAE for commitment to HPV Vaccine

By
Shams
-
WHO honours UAE for commitment to HPV Vaccine

The World Health Organization (WHO) has recognized the UAE in recognition of its progressive efforts to ramp up the national immunization program, specifically highlighting the integration of the HPV vaccine. 

The accolade showcases the WHO’s confidence in the UAE’s robust health system, which prioritizes preventive measures and delivers comprehensive, integrated healthcare through innovative and sustainable approaches that ensure disease prevention and the integration of the latest advancements in immunization technology.

Dr. Ahmed Al Suwaidi, Chairman of the National Immunization Technical Advisory Group (NITAG), Dr. Sulaiman Al Hammadi, a member of the group, and Dr. Laila Al-Jasmi, Head of the Immunisation Department at the Ministry, received the award at a ceremony hosted by the WHO Regional Office for the Eastern Mediterranean in Cairo. The event also celebrated the 50th anniversary of the WHO’s Essential Program for Immunization and was attended by senior officials from the office and representatives from member states in the Eastern Mediterranean region.

The honour recgonises MoHAP’s ongoing efforts and that of other health authorities to enhance and update the National Immunization Program. As one of the country’s strategic initiatives, the program undergoes periodic reviews by specialized technical committees, including the National Immunization Technical Advisory Group and the Supreme National Committee for Immunization. The reviews are conducted in accordance with the latest international standards and reflect the local vaccine coverage and the number of reported cases of diseases targeted by vaccination.

HE Dr Hussain Abdul Rahman Al Rand, Assistant Undersecretary for the Public Health Sector, stated that this honour is a source of pride for the UAE and clearly shows the commitment of the country’s leadership to excel in global competitive indicators.

He emphasized that the honour comes in recognition of MoHAP, strategic partners, and health authorities’ relentless efforts to enhance the efficiency of the health system and prevent diseases. It is yet another incentive to maintain excellence in public health, ensuring the highest levels of prevention for community members and the implementation of sustainable health strategies.

He highlighted that the UAE stands out both regionally and globally for adhering to the highest standards in combating HPV and cervical cancer. Such an achievement was made possible by various programs and initiatives launched and implemented by the country’s health authorities, driven by a commitment to developing health policies based on scientific research. These policies are very helpfull in setting, framing, and regulating standards within national strategic programs aimed at combating the disease.

Al Rand added that since 2018, the Ministry has included the HPV vaccine for females in the national immunization program, positioning the UAE as the first in the Eastern Mediterranean to do so. Recently, the program was expanded to include male students aged 13 to 14 years. He also praised the ongoing support from the Ministry’s strategic partners and other health authorities, which helps sustain the National Immunisation Programme and strengthens the UAE’s reputation as a global model for integrated healthcare.

From student initiative at AUS to thriving business: The rise of Arabic language program Bulbul

By
Shams
-
From student initiative at AUS to thriving business: The rise of Arabic language program Bulbul

What started as a student-led initiative at American University of Sharjah (AUS) has blossomed into a successful entrepreneurial social business named Bulbul, offering practical Arabic language classes that stand out for their innovative approach.

“The Arabic classes program began as a student initiative, driven by a noticeable demand for practical Arabic skills within the AUS community. Over two years, the program served 400 students and earned the Best Program of the Year award from Community Service and Outreach at AUS. This success prompted a transition into a social business model,” said finance alumna Alaa El Gamal, Bulbul Co-Founder, Client Relations and Business Growth Strategy.

The business came to fruition when finance alumnus Huzaifa Masood, chemical engineering alumna Hajar El Rashed, and El Gamal joined forces. Masood oversees sales and finances, ensuring operational success; El Gamal manages client journeys, focusing on growth and customer success; and El Rashed develops the curriculum, hires and trains tutors, and ensures high-quality service delivery.

“The program idea emerged when Masood identified a gap in Arabic language proficiency among expatriates, despite years of formal education. Starting the initiative at AUS, he quickly built a team and launched the program. After graduation, we transformed the initiative into a business. Despite challenges balancing full-time jobs, our dedication has led to the successful establishment and expansion of our business,” explained El Gamal.

What sets this program apart is its focus on practical, scenario-based learning. Unlike traditional, academically-focused methods, the program offers personalized, real-life conversational practice from day one. Clients benefit from tailored one-to-one tutoring that adapts to their proficiency level and learning pace. An initial free counseling session helps customize each learning experience, addressing individual goals and preferences. For those who prefer face-to-face learning, tutors are also matched based on location and client needs, with plans to establish centers across the UAE to further enhance accessibility.

“We emphasize personalized learning by carefully matching each client with a dedicated tutor who aligns with their schedule and proficiency level. Continuous engagement is key to our approach. We maintain regular contact with clients to monitor progress and ensure effective learning outcomes. Our overarching vision is to demystify the perception that Arabic is a difficult language. We strive to make Arabic accessible to everyone, enabling individuals to confidently communicate in everyday situations, whether in the street or at work,” said Masood.

The curriculum is developed through a collaborative process involving Masood and El Rashed, with insights from the Department of Arabic and Translation Studies at AUS.

“Rather than a traditional level-based approach, the program uses practical scenarios accompanied by a set of vocabulary lists categorized by difficulty—easy, medium, and hard—allowing for flexible, customized learning experiences. The curriculum is developed and constantly reviewed by El Rashed to ensure its effectiveness in real-world communication. Currently, we offer approximately 30 scenarios in our catalog, with the flexibility to create tailored scenarios upon client request. Arabic-speaking tutors, initially drawn from a pool of AUS students and now expanding, undergo specialized training to deliver effective scenario-based teaching. We are also always on the lookout for new talent to join our team,” said El Rashed.

The co-founders’ experience with the AUS program has given them a strong foundation for building the business. Their focus on exceptional service and rigorous quality monitoring aims to ensure client success and drive growth. As the business scales, they are committed to continuous improvement and innovation to meet evolving client needs.

“We’ve received significant interest both from within AUS and beyond, with clients expressing enthusiasm for our practical Arabic language program that effectively develops their speaking skills. Flexibility is ingrained in our operations to cater to diverse client needs, whether they prefer weekend or evening classes, or require flexibility to reschedule due to exams or unforeseen circumstances,” she said.

Looking ahead, the team is dedicated to expanding their reach and impact by opening centers across the UAE to host sessions and events, further enhancing accessibility and convenience for their clients.

“We are committed to continuously evolving and innovating our approach to meet the dynamic needs of our clients. As we expand, our goal is not only to teach Arabic effectively but also to foster a supportive learning environment where every client feels empowered and motivated to achieve their language goals. Our dedication to excellence drives us to constantly improve our services and explore new opportunities for growth and impact in the community,” said Masood.

The success of Bulbul exemplifies the powerful impact of alumni entrepreneurship supported by their alma mater.

“We are proud to support our alumni in starting their own businesses. Through personalized mentorship and networking events, we foster a community where entrepreneurial ambitions thrive. Our alumni’s success in launching successful enterprises reflects our commitment to nurturing innovative leaders who contribute nationally to economic and societal growth. We look forward to sharing these achievements with you and demonstrating how our college continues to empower entrepreneurs in today’s business landscape,” said Dr. Mohsen Saad, Professor of Finance at the School of Business Administration at AUS.

AUS is ranked second in employer reputation and employment outcomes in the UAE, according to QS World University Rankings (2025).

e& UAE Launches Fibre-To-The-Room for Ultimate Home Connectivity

By
Shams
-
e& UAE launches Fibre-To-The-Room, Boosting Wi-Fi Performance For High-Speed Internet Services

e& UAE has launched a Fibre-To-The-Room (FTTR) high-speed internet solution that supercharges the performance of in-home Wi-Fi networks.

The new service solves the challenges of inconsistent Wi-Fi coverage and speed in large residential spaces, including apartments and villas, serving a variety of customer needs. Additionally, Fibre to the Room (FTTR)  is an ideal solution for smart homes, gamers, and other tech-dependent users who require high-speed internet connections with the lowest possible latency to ensure peak performance.

Khaled ElKhouly, Chief Consumer Officer, e& UAE, said: “Fibre to the Room (FTTR) is a significant leap forward in fast Wi-Fi for homes, and we’re excited to bring it to UAE residents. By bringing fibre optic connectivity directly to every room, we’re ensuring every home is a hub for work, entertainment, and limitless possibilities.”

Khalid Murshed, Chief Technology and Information Officer, e& UAE, said: “High-speed connectivity is the cornerstone of our vision to create a digitally empowered future for all. The new Fibre-To-The-Room solution is a transformative step towards realising this vision, empowering our customers to unlock the full potential of next-generation performance and capabilities at home.”

This innovative service tackles the challenge of Wi-Fi coverage in large spaces. Unlike traditional Wi-Fi solutions that can struggle with distance and interference, Fibre to the Room (FTTR) delivers fibre optic connectivity directly to each room. This bypasses the limitations of Ethernet cables and ensures robust, high-speed internet access throughout the entire home, guaranteeing a seamless and uninterrupted connection in every room.

e& UAE’s Fibre-To-The-Room service is available for a monthly rental fee of AED 129 (excluding 5% VAT) on a 24-month contract.  For users with very large homes, multiple Fibre-To-The-Room units can be ordered to serve the same premises seamlessly.

About e& UAE

e& UAE embodies the telecom arm of e& in the UAE, with a mission to maximise stakeholder value, deliver an unparalleled customer experience and optimise business performance for sustainable growth and success.

Leveraging the latest world-class technologies, e& UAE will grow core and digital services, enriching consumer value propositions with digital services catering to new consumer lifestyles and emerging demands beyond core telecom services, including health, insurance and gaming.

e& UAE will continue to act as a trusted partner to enterprises in meeting their connectivity needs and beyond.

Bolstering its leadership position as a digital telco that champions customers in a hyper-connected digital world, e& UAE will pivot the new sustainable demand into future spaces such as private networks, autonomous vehicles, and AI.

To learn more about e& UAE, please visit: https://www.etisalat.ae.

1...313233...68Page 32 of 68

EVEN MORE NEWS

POPULAR CATEGORY

©