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World Economic Forum to Accelerate Multistakeholder Climate Action at COP28

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World Economic Forum to Accelerate Multistakeholder Climate Action at COP28
World Economic Forum to Accelerate Multistakeholder Climate Action at COP28

The World Economic Forum will convene heads of state, ministers, business leaders, philanthropy and civil society to advance climate action at the 28th Conference of the Parties of the UNFCCC (COP28) at the Expo City Dubai, in Dubai, United Arab Emirates. The Forum’s focus at COP28 is to address priority action areas including industry decarbonization and net zero, energy transition, food, nature and innovative finance.

“We have to take a holistic approach to address the environment crisis, with people at the heart of the agenda, focusing on restoring and protecting nature ecosystems, strengthening community resilience in the face of water stresses and extreme temperatures, while stopping the pollution of our land, sea and water,” said Gim Huay Neo, Managing Director, World Economic Forum. “Fostering a sense of inter-dependence, mutual trust and support as well as active collaboration between governments, the private sector, philanthropy, civil society and communities is needed to build a more harmonious relationship among communities and with the planet.

COP28 is an opportunity for the World Economic Forum to provide a platform for multistakeholders to take stock on progress, enhance partnership efforts and explore new ideas and solutions together to safeguard our global commons.”

The discussions in Dubai will build on outcomes from the Forum’s Sustainable Development Impact Meetings 2023, which reflected on progress made on the Sustainable Development Goals (SDGs) and created momentum in addressing the climate and nature crises and advancing an inclusive energy transition.

As part of the COP28 programme, the Forum will hold several sessions aligned to the meeting’s thematic areas. Most of the sessions will take place at the COP28 Blue Zone, which is accessible to UNFCCC-accredited media.

Virtuzone launches ChatVZ, the world’s first business setup AI chatbot

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Virtuzone launches ChatVZ, the world’s first business setup AI chatbot
Virtuzone launches ChatVZ, the world’s first business setup AI chatbot

Building on the successful launch of its suite of AI-powered tools, Virtuzone further cements its position as a leading innovator in the company formation and corporate service industry by introducing its latest AI-driven platform: ChatVZ, the world’s first business setup AI chatbot.

Virtuzone, the UAE’s first and leading company formation specialists and award-winning corporate services provider, has programmed ChatVZ to provide complete, detailed and up-to-date answers to any UAE business setup-related questions in just seconds.

Leveraging the ground-breaking capabilities of large language models (LLMs) and generative AI, ChatVZ is designed to make it easier, simpler and faster for people to access information about setting up a business in the mainland and in all of UAE’s free zones. The AI-enabled platform uses OpenAI’s recently released GPT-4 turbo developer update, significantly enhancing the speed and performance of the responses it generates.

ChatVZ is trained on 10 years’ worth of information sourced from Virtuzone’s database of more than 100,000 unique digital interactions, and thus adds over a million new words to GPT’s current dataset. Equipped with a multi-layered security infrastructure, ChatVZ offers stringent data protection and safeguards users’ personal information.

George Hojeige, CEO of Virtugroup, said: “We will continue to harness and maximise the ingenuity and unlimited potential of artificial intelligence to create innovative solutions that will help make entrepreneurship in the UAE more accessible and feasible for everyone. Like TaxGPT, the world’s first AI-powered UAE corporate tax assistant which we launched in May, ChatVZ is aimed at supporting entrepreneurs and boosting start-up activity in the country and continuously underpinning the UAE’s position as a global business hub.”

Damian Brennan, Marketing Director at Virtuzone, said: “ChatVZ follows the success we achieved with TaxGPT, which has now provided over 50,000 answers to UAE corporate tax-related questions. We foresee ChatVZ to deliver the same level of instantaneous responsiveness and precise answers that will guide entrepreneurs and corporates looking to establish their foothold in the UAE. We will continue to harness the new technologies made available by OpenAI to introduce next-generation AI-operated tools, such as an AI-enabled business plan generator and autonomous bots that can amplify operational processing speed.”

ZAJEL Participated in Dubai’s Global Freight Summit 2023

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ZAJEL Participated in Dubai’s Global Freight Summit 2023
ZAJEL Participated in Dubai’s Global Freight Summit 2023

 Zajel makes its mark in the world of global logistics summit, with its participation in this year’s edition of the “Global Freight Summit” – an international scale event seeking to enhance worldwide logistics operations.

Under DF Alliance, the Global Freight Summit 2023 is one of the world’s most vital global supply chain and freight events of the year. The Summit is DPs vision to create a platform for various industry leaders to converge and enable various dialogues to meet the pressing challenges and pressures of the industry and come up with innovative solutions for forward growth.

Zajel’s participation showcases the company’s drive to showcase its level of expertise and professionalism as freight forwarders Moreover, this also highlights their commitment to growth through various global and local partnerships – one that seek to enhance logistic supply chains across all sectors, to enhance operations and services.

The freight forwarding department was launched earlier this year, as part of their service expansion plan – Business Development Manager, Shaher Abu Hammor adds, “Zajel has taken strong strides in establishing a solid freight forwarding department, headed by some of the most trusted names in the industry – our participation is key in helping us build connections and global market presence, which will in turn help streamlining our operations regionally and internationally”.

The company continues to improve its services through various partnerships and event participations, as part of their dedication to improve operations and services, internally and externally

AI HAS THE POTENTIAL TO REDEFINE THE CUSTOMER EXPERIENCE, BUT CHALLENGES REMAIN

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Sahfy Sahfy
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AI HAS THE POTENTIAL TO REDEFINE THE CUSTOMER EXPERIENCE, BUT CHALLENGES REMAIN
AI HAS THE POTENTIAL TO REDEFINE THE CUSTOMER EXPERIENCE, BUT CHALLENGES REMAIN

Artificial intelligence (AI) has the potential to transform the customer experience, said a panel of leading experts during a special reception hosted by Arabian Gulf Business Insight (AGBI) at the Capital Cub Dubai, DIFC, on 15 November.

The exclusive, invite-only event welcomed an audience of senior business leaders from across the UAE to explore emerging trends, opportunities, and challenges brought on by the advancement of AI, as well as the best ways for businesses to navigate its wide-spread influence on people, processes, products, and productivity.

The discussion was led by Michael Bayler, a sought-after strategy consultant and author, who was joined by a panel of international AI specialists – including Mario Rizk, a principal in Oliver Wyman’s Digital Practice; Jessica Groopman, a respected Silicon Valley-based analyst; Professor Neil Maiden, the current director of the UK’s National Centre for Creativity enabled by AI (CebAI); and Noel Tock, a technologist and founder of digital experience agency, Human Made. 

In their discussion of key narratives framing public perception of AI in the workplace, the panellists identified customer experience (CX) as a key field that would undergo a transformation thanks to AI, notwithstanding the challenges of aggregating a single organisation’s huge volume of data into a single platform, and associated data security challenges.

“I think it’s very tempting to replace individual pieces of workflows with AI, and this is not necessarily the best outcome for customers,” said Noel Tock, who counts AirBnb, TechCrunch, and Siemens among his agency’s clients.

“What is the best outcome for customers? Being able to send the right message, to the right person, at the right time. 

“There’s a great opportunity [with AI] to go back to the first principles of what is your ideal customer, who are they, spending time with them, and then working back from there.”

Michael Bayler agreed, citing the $600 billion value of the global CX market. 

“Anticipating a possible customer need, looking at where customers are in context, and then being able to feed them real-time solutions [is key] to data and digital customer service, but there are basic fundamental attitude problems to resolve in the customer service market before we can move forward,” he said. 

Jessica Groopman highlighted other narratives that will shape the CX space, including acceleration and building, as well as their combined impact on democratisation of knowledge at an organisational level.

Mario Rizk added: “There’s a new set of algorithms around large-language models, and consumer expectations…and experience will change, and this change will drive product and market change. At the same time, there are conversations around how to resist the rabbit hole of AI. This is the concern.”

The solution doesn’t lie in resisting AI, though, but in learning to leverage its capabilities to foster creative problem solving across business operations. 

“Creativity and creative problem solving isn’t something that happens occasionally,” said Professor Neil Maiden. 

“It’s embedded in the world. Combining generative AI technologies with machine learning, creative search, and old fashioned, symbolic AI enables us to come up with new architecture that can deliver augmentations to creative problem solving. 

“What we’ve done is bring all these technologies together to prompt business leaders to be more creative and solve problems in more creative ways.

“Creativity is often seen as a trade-off with productivity, but our observation with these technologies is that there’s a sweet spot with both,” he added. 

As AI continues to drive new approaches to creativity within business, individuals need to maintain their sense of purpose, agreed the panellists. 

“There’s something fundamental about how we define ourselves. Often, an idea we generate is the extension of ourselves. So, it’s really important [with the adoption of AI] that ownership remains with the people,” said Professor Maiden. 

This sense of purpose needs to extend beyond the individual to the organisation, with leaders carrying the responsibility of redefining corporate identity, echoed Bayler.

He added: “The incredible lack of leadership and what corporate purpose means has to be resolved, and there needs to be greater stewardship of purpose. The real question isn’t ‘what is your AI strategy?’, it’s ‘how is this strategy in service to our purpose?’ Purpose should be the primary lens through which we interrogate our approach.” 

Forbes Middle East to Host its Second Under 30 Summit in El Gouna in January, Chaired by Anas Bukhash

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Sahfy Sahfy
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orbes Middle East to Host its Second Under 30 Summit in El Gouna in January
orbes Middle East to Host its Second Under 30 Summit in El Gouna in January
  • The second edition of the Under 30 El Gouna will be held from January 11-14, 2024.
  • More than 1,000 participants will gather in El Gouna along the Red Sea coastline in Egypt to celebrate the Forbes Under 30 community.
  • The ground-breaking event will showcase influential speakers, entrepreneurs, and thought leaders from across the Middle East and the wider world.

 

El Gouna, Egypt, November 19, 2023

 

Plans are underway for Forbes Middle East’s second Under 30 Summit in El Gouna. The summit is set to take place from January 11-14, 2024, at the El Gouna Conference and Culture Center, with the fully integrated sustainable town by Orascom Development by the Red Sea in Egypt once again hosting young talent, disruptors and innovators from across the region, offering speakers and attendees an entertaining and enlightening four-day experience.

 

Khuloud Al Omian, CEO and Editor-in-Chief of Forbes Middle East, expressed her enthusiasm for the summit and the collaboration with El Gouna, stating, “Forbes Middle East is committed to recognizing and nurturing young talent in the region. Our partnership with El Gouna by Orascom Development and the support of Visa, VIMarktes, and Prypco will ensure that the Forbes Middle East Under 30 El Gouna remains a platform for innovation and inspiration.”

 

“We are delighted to embark on the second edition of Forbes Middle East Under 30, with El Gouna once again serving as the host to Arab and international youth from all corners, solidifying its position as a multifaceted youth destination for business, leisure, and living,” said Mohamed Amer, CEO of El Gouna. “Anticipation is high for this significant event that unites a select group of Egypt and the Arab World’s young talent. This summit holds immense importance for us, as it aligns with our aim of bolstering El Gouna’s position as the nexus for business professionals, SMEs, and entrepreneurs in the region, offering a special coastal lifestyle experience not found elsewhere.”

 

The summit will be chaired by Emirati serial entrepreneur and interviewer Anas Bukhash, widely recognized for hosting his popular podcast show #ABtalks. He is a renowned promotor of personal growth and awareness in the Arab region and is committed to leading and empowering the next generation, serving as an inspirational figure to support their aspirations.

 

“It is a pleasure to be chosen to chair the Forbes Middle East’s Under 30 in ElGouna. This youth summit serves as a pivotal platform that unites the leaders of tomorrow, providing them with a space for networking, collaboration, and the exchange of groundbreaking ideas,” said Bukhash. “I am very happy to be collaborating with Forbes, and we eagerly anticipate welcoming you all to El Gouna as we come together to celebrate the remarkable achievements of our youth.”

 

The Forbes Middle East Under 30 Summit will feature an exciting array of inspiring speakers who will be sharing their expertise and insights, including: filmmaker and actress Zeina Makki; Senior Vice President & Group Country Manager at NALP, Visa, Leila Serhan; content creator Mohanad Hattab;  Founder and CEO Of Prypco, Amira Sajwani; Head of Design for APAC and AMESA at Pepsico, Gianmauro Vella; lyricist, writer, and creative director, Menna Elkeiy; comedians Saudi Reporters; TV host Sherif Fayed; influencer Narin’s Beauty; TV presenter Ramy Radwan; and YouTuber Ghaith Marwan. The Forbes Middle East Under 30 El Gouna 2024 promises to be a landmark event, empowering the next generation of leaders, fostering creativity and innovation, and celebrating the achievements of young visionaries across the Middle East. Stay tuned for more updates and exciting announcements as we approach this historic event.

 

About Forbes Middle East

 

Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.

 

About El Gouna

 

El Gouna, one of Orascom Development’s fully integrated towns, has been the most prominent destination nestled on the Red Sea in an area of 36.9 million square meters for more than 30 years. The town encompasses 9,200 delivered residential units, 18 hotels providing 2,800 rooms, schools offering various international curricula, including Swiss and British certifications, an international hospital, a startup workspace facility, four marinas, two world-class golf courses, an Egyptian Premier League football club, a culture and conference center, and an array of services.

 

Each of El Gouna’s hotels is characterized by unique architectural charm. From the Upper Nubian flair of Steigenberger to the Asian-inspired design of The Chedi, which is part of The Leading Hotels of the World portfolio, and Casa Cook’s down-to-earth yet stylish aesthetic, there’s a hotel for every taste. The interior design across these hotels is sleek and understated, prioritizing maximum comfort. Dining in El Gouna is a culinary delight, with impeccable options featuring flavors from locally sourced ingredients, including supplies from El Gouna’s own farm. The town also offers a curated selection of spas, blending oriental and Far Eastern treatments for a holistic relaxation experience. With a population of more than 25,000 residents of 50+ nationalities, El Gouna is only 30 minutes from Hurghada International Airport, which has direct flights to the UK (5 hours), many European cities (4 hours), and the Middle East (1 hour).

 

About Orascom Development Holding

 

Orascom Development Holding is a leading international developer specializing in vibrant, integrated communities in Europe, the Middle East, and North Africa. For more than 30 years, Orascom Development has been a pioneer in creating destinations where people are inspired to live, work, and play with passion and purpose. From El Gouna’s stunning Egyptian coastal town by the Red Sea to Andermatt Swiss Alps’ breathtaking, year-round mountain destination, each master-planned community is a testament to Orascom Development’s commitment to place-making at its finest. The integrated towns harmoniously combine residential areas with private villas and apartments, hotels, and award-winning leisure and commercial amenities – including golf courses, marinas, sports facilities, retail shops, and restaurants.

 

Orascom Development owns a land bank of more than 100 million square meters with nearly 40% under development or developed into thriving communities in Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the GCC (The Cove in the UAE and Jebel Sifah and Hawana Salalah in Oman), and in Europe (Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro and West Carclaze Garden Village in the UK). Orascom Development’s hospitality portfolio includes 33 premium and luxury hotels with more than 7,000 rooms across Europe, the Middle East, and North Africa. ODH shares are listed on the SIX Swiss Exchange.

EFG Hermes: The success of the Emirati Global Investments deal to acquire 30% of Eastern Tobacco for $625 million

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Sahfy Sahfy
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EFG Hermes: The success of the Emirati “Global Investments” deal to acquire 30% of “Eastern Tobacco” for $625 million
EFG Hermes: The success of the Emirati “Global Investments” deal to acquire 30% of “Eastern Tobacco” for $625 million

EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM), announced today that it successfully concluded advisory to UAE investment firm Global Investment Holding Ltd on the USD 625 million transaction, which involves the acquisition of 30% in the Egyptian tobacco giant Eastern Company from Egypt’s state-owned Chemical Industries Holding Co. (CIHC) which was approved by the cabinet on the 3rd of September 2023. EFG Hermes acted as the sole financial advisor to Global Investment Holding Ltd in the acquisition. 

Maged El Ayouti, Managing Director and Deputy Head of Investment Banking at EFG Hermes, commented on the transaction: “We’re proud to be part of this landmark transaction, which has far-reaching positive implications for both Eastern Company as well as the broader economy. As one of the largest minority stake sales in Egypt’s history and one of the biggest FDI transactions into Egypt in the last several years, this deal reflects continued investors’ appetite for acquiring stakes in leading Egyptian corporates, whether these are in defensive sectors or in pursuit of high growth opportunities. The transaction is the latest in a series of successful executions we have completed in the M&A space over the last three years, exceeding USD 6.5 billion in transaction value.” 

Egypt’s largest tobacco product maker and distributor, Eastern Company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes’ filter rods and homogenized tobacco. It has been a pivotal part of Egypt’s economic fabric for decades, retaining a consistent market share of 70%. 

The deal is one of the major M&As EFG Hermes has advised on which also includes the sale of a 55%  stake of Vodafone Egypt to Vodacom for a total consideration of EUR 2.7 billion; the sale of a 60% stake in Egypt’s health food company Abu Auf by Emirati food and beverage major Agthia; the 100% indirect stake acquisition in confectionery and healthy foods maker BMB Group by Agthia; the 85.52% stake sale of Egyptian real estate giant SODIC to Aldar Properties in a deal valued at USD 388 million; Abu Dhabi Ports Group’ (AD Ports’) acquisition of a 70% stake in Egypt’s Transmar in a deal valued at USD 140 million; Saudi Arabia’s Public Investment Fund’s acquisition of a 33.4% stake in consumer electronics and household appliances retailer BTECH for a consideration of USD 150 million; the sale of 100% of Bank Audi Egypt to First Abu Dhabi Bank; as well concluding a USD 530 million deal for Dubai-based Gulf Islamic Investments to acquire a 51% stake in Saudi’s Al Meswak Clinics.  

EFG Hermes also acted as the sole broker for Global Investment Holding Ltd, executing the transaction.

the European Bank for Reconstruction and Development welcomes Iraq as its latest member

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EBRD welcomes Iraq as its latest member
EBRD welcomes Iraq as its latest member

Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD), bringing its total number of shareholders to 74.

Iraq originally submitted a request to join the Bank in April 2018 and the Board of Governors approved its membership in October 2020. The process of becoming a shareholder is now concluded.

As a shareholder, Iraq can apply to become a recipient economy, thereby benefiting from the EBRD’s finance and policy support. Such a request would be reviewed by shareholders in a separate process.

At this year’s EBRD Annual Meeting in Samarkand, the Board of Governors approved an amendment to the Agreement Establishing the Bank to allow the expansion of the Bank’s operations to Iraq. Once the amendment is in force, the Bank will be in a position to take forward any request from Iraq to become a country of operation.

The Governors’ Resolution in Samarkand also folded Iraq into the Bank’s southern and eastern Mediterranean (SEMED) region, to which the country has strong economic links.

EBRD President Odile Renaud-Basso, said: “I am delighted to welcome Iraq as a member of the Bank. We are fully committed to engaging with the country. When the time comes, we are looking forward to starting work in Iraq, applying our expertise to developing its economy.”

The Bank first started to operate in the SEMED region in 2012, launching activities in Egypt, Jordan, Morocco and Tunisia. In 2017, operations were extended to Lebanon and the West Bank and Gaza.

The EBRD now has 72 national shareholders in addition to the European Union and the European Investment Bank.

The EBRD supports countries in transition, using a combination of investment, advisory work and policy reform. It focuses on developing the private sector and bringing sustainable change, leaving an enduring legacy for a better future. The Bank is currently focusing its efforts on supporting Ukraine, while helping all of its economies to become greener, more inclusive and more digital

barat London attracts real estate investors with the launch of the Sterling Place residential

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barat London attracts real estate investors with the launch of the Sterling Place residential
barat London attracts real estate investors with the launch of the Sterling Place residential

Barratt London, part of Barratt Group, the UK’s largest housebuilder, has officially launched its latest development, Sterling Place, in New Malden, in the south-west of the UK capital, with new research revealing the popularity of the location has resulted in house prices to rise by 8.3% in the last year.

Research by JLL has revealed that New Malden is in high demand, with the number of
residents predicted to increase by 2.4 per cent between 2021 and 2026. In line with the
increase in popularity, average sales prices have also risen by 8.3% in just 12 months –
significantly outperforming Greater London’s 3.6% rise.

New Malden has also outperformed London and neighbouring areas in the last five, 10 and 20 years.
Leading the sales drive in the GCC is the recently launched Barratt London MENA office, led by UAE-based Hardington Residential, according to the company’s managing director Ian Plumey, there is a lot attracting the interest of investors from the region.

“This development piques the interest of investors from this region for three key reasons.
The first is those looking for a home to use during the summer, which is located in a leafy
part of the capital but just a short journey by train to Central London or Surrey; the second is education, with south-west London considered one of the most sought-after areas for parents; and finally, the incredible investment opportunities – there very few investment vehicles delivering 8.3% growth in 12 months,” said Plumey.

“We are currently seeing Saudi Arabian, Kuwaiti and UAE investors leading the charge for
this type of property, followed by Qatar, Oman and Bahrain,” he added.
Sterling Place will consist of 456 new one-, two- and three-bedroom apartments, replacing a derelict former print works renowned for producing, amongst other things, currency for numerous countries worldwide.

The new apartments will be in seven staggered-height blocks ranging from seven to fourteen storeys. Starting from US$459,600 (£379,000) for a one-bedroom home, the first phase will offer panoramic views over south-west London and towards the City. In addition to views, residents will benefit from open-plan living and landscaped gardens. The first homes will be delivered in Q4 2025, with the site expected to be complete in 2027.
The new residential village has been designed with the environment in mind. Adding podium gardens, play areas, and tree and shrub planting will bring a 10 per cent biodiversity net gain to the area. Each energy-efficient home is predicted to have an EPC rating of B or above, and there are 240 electric charging points, over 900 cycle storage spaces and solar panels across the site.

New Malden is an area that could also benefit from the potential delivery of Crossrail 2.
Research by JLL has stated that 76 per cent of areas surrounding the planned Elizabeth
Line stations outperformed the regional average in terms of house prices in the decade
leading up to its opening, further underscoring the return on investment (ROI potential). The line would also significantly improve connectivity for the area, with up to 30 trains per hour to destinations including Central London, Hertfordshire and Surrey, significantly reducing journey times.

Close to the border into Surrey and conveniently located for both town and country, Sterling Place has four bus routes on the doorstep and three railway stations within a 15-minute walk. The District and Northern lines can also be accessed from nearby Wimbledon and South Wimbledon tube stations.

As well as access into the city, there are several iconic destinations in south-west London.
Richmond Park, famous for its deer, is less than four miles away and covers 2,500 hectares, taking in viewpoints, cafés, playgrounds and a Victorian woodland garden. At the same time, nearby Wimbledon hosts the famous annual lawn tennis competition. Vibrant Kingston- Upon-Thames, just three miles from Sterling Place, is the ideal destination for shoppers, with bars and restaurants lining the River Thames.

From an education perspective, the Merton area is home to over 85 schools, and the
Borough is in the top 10 in London for Ofsted-rated ‘Outstanding’ schools. The area’s
selective schools are also in high demand, with 1,500 students applying every year for the
180 spaces available at the Tiffin School.
Stuart Leslie, Sales and Marketing Director for Barratt International said: “We’ve seen
that buyers’ habits have changed post-Covid with the need for a good work-life balance
being more important than ever before. In an area like New Malden, you’re at Surrey’s
gateway, where you have that perfect blend of the countryside on the doorstep and the buzz of the capital less than a 30-minute train journey away.
“For me, the ultimate draw of New Malden is its location. You’re so close to London’s iconic destinations – the likes of Richmond Park, Wimbledon Village, and Kingston are all on the doorstep.

Therefore, it is no coincidence that this area is growing in value as it ticks many
boxes needed for 2023 living.”
Prices for Sterling Place in New Malden will start from US$459,600 (£379,000) for a one-
bedroom home. To find out more, visit www.barrattlondon.com or call 0330 057 6666.

du and Ookla announce strategic partnership

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du and Ookla announce strategic partnership
du and Ookla announce strategic partnership

du, from Emirates Integrated Telecommunications Company (EITC), has teamed up with Ookla, a global leader in connectivity intelligence, to provide a superior customer experience. The partnership will see Ookla providing its comprehensive suite of solutions to du.

du will leverage Ookla’s industry-leading solutions to gain valuable insights into network performance, coverage, and signal measurement data, as well as real-world consumer network experience. By harnessing these advanced tools, du aims to facilitate a differentiated experience for its customers across the UAE and further contribute to UAE’s worldwide leading position.

Fahad Al Hassawi, Chief Executive Officer at du said: “We are thrilled to partner with Ookla to augment our network performance and elevate the customer experience in the UAE. We will leverage powerful insights and data-driven solutions to ensure seamless connectivity and deliver superior network performance to our valued customers.”

Under the terms of the agreement, Ookla will offer du its end-to-end solutions, providing global insights on quality of service (QoS) and quality of experience (QoE), thus enabling du to make informed decisions for network improvements. This partnership further solidifies du’s dedication to providing a world-class network performance for its customers.

Stephen Bye, President and CEO of Ookla, a division of Ziff Davis, said: “Ookla’s partnership with du underscores our commitment to working with providers to improve access to broadband services and deliver the best possible customer experience. We appreciate our partnership and work with du to improve its network and maintain the UAE’s position as the fastest country for mobile speeds on the Speedtest Global Index.”

Through this collaboration, du aims to not only ensure seamless connectivity and deliver a superior network performance, but also contribute to the UAE’s ranking as the fastest mobile market in the world.

Sharjah Chamber Embarks on Trade Mission to Enhance Economic Ties with Uganda and Kenya

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Sharjah Chamber Embarks on Trade Mission to Enhance Economic Ties with Uganda and Kenya Sharjah Chamber Embarks on Trade Mission to Enhance Economic Ties with Uganda and Kenya
Sharjah Chamber Embarks on Trade Mission to Enhance Economic Ties with Uganda and Kenya

The Sharjah Chamber of Commerce and Industry (SCCI) will dispatch a trade mission to Uganda and Kenya on Monday to bolster economic and investment cooperation between Sharjah and the two African nations.

Led by the Sharjah Exports Development Centre (SEDC), the mission is set to explore ways to further development and foster stronger ties as part of the Chamber’s commitment to supporting the local business community, enhancing their activities, and facilitating the growth of industrial and commercial exports from Sharjah.

HE Abdullah Sultan Al Owais, Chairman of SCCI, is leading the delegation, accompanied by several members of the Chamber’s Board of Directors, including Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber. The delegation also includes officials from the Chamber and the Centre, as well as prominent businessmen and representatives from major industrial and commercial entities in Sharjah.

The trade mission’s journey will commence with the first leg taking place in the Kenyan capital, Nairobi, where the Sharjah-Kenya Business Forum was organized. The mission will then proceed to Uganda, where it will hold business forums bringing together officials and leaders from chambers of commerce and industry. 

These business gatherings will explore avenues for establishing new partnerships and will feature events and meetings with business communities from the UAE, Kenya, and Uganda, with the overarching goal of highlighting investment opportunities and fostering joint economic collaborations.

HE Abdullah Sultan Al Owais emphasized that this East African mission aims to support the UAE’s strategic vision of enhancing its global trade and investment reach, as well as widening its network of international trade allies to foster business development.

Al Owais stressed the importance of the mission not only in identifying opportunities in emerging African markets but also in enabling national companies and investors to establish new collaborations and partnerships with their counterparts across Africa, thereby boosting exports and expanding business operations into new geographical areas.

He highlighted that the mission’s agenda is packed with a series of meetings with officials from economic institutions, chambers of commerce, investment promotion agencies, export development and promotion centers, and other relevant entities representing the business community in the target markets.

Running until November 10, the trade mission takes place against the backdrop of flourishing trade relations between the UAE, Uganda, and Nairobi. In 2022, Uganda’s imports from the UAE amounted to USD 810,529, witnessing an annual growth rate of 20% over the past five years. 

Meanwhile, exports from Uganda to the UAE surged from USD 300 million in 2009 to USD 1,065,910 billion in 2021. Nairobi’s imports from the UAE reached USD 3,458,269 in 2022, marking a 47% increase since 2021, and exports from Nairobi to the UAE also saw substantial growth, climbing from USD 315,268 million in 2021 to USD 373,679 million in 2022.

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