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ACWA Power discussed how public and private to tackle climate change

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Sahfy Sahfy
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ACWA Power discussed how public and private to tackle climate change
ACWA Power discussed how public and private to tackle climate change

Sharm El-Shaikh, Egypt – 08 October 2023: Saudi-listed ACWA
Power, the world’s largest private water desalination company,
leader in energy transition and first mover into green hydrogen,
has reiterated the need for strong collaboration between public
and private sector players to speed up the transition to clean
energy and water generation at the Asian Infrastructure
Investment Bank’s (AIIB) eighth Annual Meeting in Sharm El-
Shaikh, Egypt.

Held under the patronage and presence of the Egyptian President
Abdel Fattah El-Sisi, the event brought together members,
partners, business leaders, civil society organisations and industry
experts to discuss investments aligned with sustainable economic
growth. ACWA Power was represented at the event by
Abdulhameed Al Muhaidib, Chief Financial Officer and Sarah Al
Harthey, Executive Manager of Business Development.

Speaking during a panel discussion at the event titled ‘Energy
Transition in the Middle East – Challenges and Opportunities’, Al
Muhaidib said that the robust approach to PPPs taken by
governments in the Middle East has enabled the rapid scaling up
of low-carbon power generation and efficient water desalination
projects.

Al Muhaidib highlighted how the region is one of the fastest
growing when it comes to sustainable energy projects, discussing
how the appetite for green projects has pushed ACWA Power to
raise the bar with competitive tariff rates on its projects. For
instance, ACWA Power has reduced tariff rates on its solar PV
projects by over 80% in just eight years.

“We expect this appetite to ramp up even further in the coming
years as governments realise the additional economic benefits of
changing their energy mix beyond the climate and environmental
ones,” he added.

During the session, Al Muhaidib also discussed the role of projects
such as the US$8.5 billion NEOM Green Hydrogen Project in
accelerating the pace of energy transition and how collaboration
with government entities and offtakers is key in enabling such
developments.

“Another area for consideration is water desalination, a sector
that ACWA Power is deeply committed to,” said Al Muhaidib. “It is
part of our strategic mission to provide water in an affordable and
sustainable manner, which has seen us reduce the amount of
energy consumption per cubic metre of water by 87% in the past
decade.”

ACWA Power has also delivered some of the lowest water tariffs
globally, most recently submitting the lowest water levelised tariff
rate in the world for the Hassyan Seawater Reverse Osmosis
(SWRO) facility in Dubai.

In parallel, the event saw Sarah Al Harthey participate in a flagship
seminar titled ‘Raising the Ambition to Meet the Climate
Challenge: Mobilisation of Resources for Climate Finance’, where
she discussed the devastating impacts of climate change on the
Global South, and how it is essential to mobilise resources to
implement projects that enable energy transition.

Over the coming months, ACWA Power will continue to pursue
new opportunities and partnerships that align with its mission of
delivering power and water in an affordable and accessible
manner, with the least possible impact on the environment.

EFG Wins First Place in Luxor at the Smart Green Project Competition

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Sahfy Sahfy
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EFG Wins First Place in Luxor at the Smart Green Project Competition
EFG Wins First Place in Luxor at the Smart Green Project Competition

Cairo, October 8, 2023 The EFG Foundation for Social Development, a non-profit, non-governmental organization, EFG Holding’s Foundation for Social Development, is excited to announce that it has won first place in Luxor at the Smart Green Project Competition by The National Initiative for Smart Green Projects, in the non-profit projects category, for its ‘Green Footprint Initiative’. The Foundation has secured a place among the finalists to compete on a national level and have a chance to be featured in COP28 in UAE. This initiative aims to create a sustainable and smart green community model to be implemented in every village and hamlet in Egypt. The initiative promotes digital transformation and financial inclusion by integrating economic development with environmental and social benefits.

The Green Footprint Initiative focuses on empowering employed and unemployed women to become agents of change within their families and provide an additional source of income that contributes to the health and education of children through cultivating rooftops and balconies, utilizing empty spaces, and reducing carbon emissions. 

The initiative is built upon three main pillars, each contributing to its impact and success. Firstly, the environmental aspect aims to reduce carbon emissions by an average of 137 kg per square meter annually. Secondly, the social aspect of the initiative focuses on training and empowering women, improving their living standards, and promoting behavioral changes within families. Lastly, the economic aspect centers around producing sustainable natural products and establishing e-commerce platforms for digital transactions, supporting Egypt’s digital transformation and financial inclusion strategy. By integrating technology, the initiative ensures efficiency, transparency, and accessibility to all.

The project strategically utilizes rooftops and balconies of homes and nearby buildings as operational sites, chosen for their cost-effectiveness and accessibility, particularly for women. Aloe Vera has been carefully selected as the primary crop, thriving in the high temperatures of Luxor Governorate. This versatile plant applies to various products, from cosmetics and medical items to dietary supplements. Smart irrigation techniques and water conservation measures are employed to ensure responsible resource management, minimizing water usage during Aloe Vera cultivation. Additionally, the project promotes sustainability by recycling wastewater from air conditioning and solar panel cleaning. To reach a wider audience, a diverse range of marketing channels, including bazaars, hotels, and online platforms, are harnessed to effectively promote and sell the products while authentically representing the characteristics and culture of Luxor Governorate.

Mona Zulficar, Non-Executive Chairperson of EFG Holding and Chairperson of the EFG Foundation for Social Development commented, “The Green Footprint initiative is a natural extension of the integrated sustainability development model championed by the EFG Foundation in its continuous efforts in tackling modern-day challenges, fostering climate resilience while embracing digitization. Through its projects, the EFG Foundation works through a holistic approach for a sustainable future that does not just focus on progress and creates a lasting impact.

Hanaa Helmy, Group Chief Corporate Sustainability and Impact Officer of EFG Holding and CEO of the EFG Foundation commented, “We are proud to be recognized by The National Initiative for Smart Green Projects for our efforts and achievements through the ‘Green Footprint Initiative,’ a well-rounded initiative with economic development with environmental and social impact targeting women. We believe that women are catalysts for change. By harnessing their potential to cultivate rooftops, we are building a future where sustainability and empowerment go hand in hand.”

To support the initiative, the EFG Foundation has partnered with the Ministry of Planning and Economic Development, and the National Institute for Governance and Sustainable Development to launch the ” Her for Sustainable Development” training program for 50 women. The training was divided into two phases, two stages each.  The first phase includes the theoretical stage which focuses on raising awareness about sustainable development, climate change, and the circular economy. Then, the practical stage, which focuses on planting techniques and extraction of raw materials. The second phase includes a “Train the Trainer” program focusing on teaching the participants about entrepreneurship and marketing to help them execute their project. Instating a business acumen mindset within the women is fundamental not only for progress but equips them for sustained success in their newfound venture, as well as creating a ripple effect through knowledge transfer in their surrounding communities.

The impact achieved by the ‘Green Footprint Initiative’ is significant. In the first phase, a reduction of 3 tons of carbon emissions per year has been completed, in addition to recycling solid and organic waste and implementing conversation measures.  It has also achieved a 68% return on investment and created 100 new job opportunities. Additional income has been generated for families, ranging from EGP 12,000 to EGP 15,000 annually, contributing to their well-being. The initiative has proudly achieved 14 out of 17 sustainable development goals set by the United Nations, in line with Egypt’s 2030 strategy.

The initiative builds upon the successful sustainable development model implemented by the EFG Foundation in the Al-Deir community in Esna, where the Foundation has been operating since 2017. The Foundation has made impressive achievements through its projects, which have had a transformative impact on the community. These accomplishments include the development of a health unit serving 75,000 individuals, a water network serving 15,000 individuals, and training over 300 young men and women in the Montessori method. We have also established the Little Scientists Academy nursery, employed 50 teachers, and graduated 400 students from the Montessori and inclusion departments for individuals with unique abilities. Furthermore, the Foundation has successfully upgraded the sewage network, constructed a pumping station for 15,000 individuals, and collaborated with the construction of 160 housing units in partnership with the “Haya Karima” initiative. 

UAE-India MoU to drive investment and collaboration in industry and advanced technologies

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Sahfy Sahfy
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UAE-India MoU to drive investment and collaboration in industry and advanced technologies
UAE-India MoU to drive investment and collaboration in industry and advanced technologies

Abu Dhabi-UAE: 06 October 2023 – The UAE and India will cooperate more closely in sustainable industrial development following a memorandum of understanding (MoU) signed on Thursday at Emirates Palace. The MoU was signed in the presence of His Highness Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council. It was signed by His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and His Excellency Shri Piyush Goyal, India’s Minister of Commerce and Industry.

The MoU signing is in line with the UAE-India Comprehensive Economic Partnership Agreement (CEPA), aimed at enhancing the country’s position as a gateway for trade and logistics. The agreement was signed during the 11th meeting of the UAE-India High Level Joint Task Force on Investments.

Focusing on facilitating industrial investments, technology transfer and enabling the deployment of key technologies in industries, the MoU will benefit both countries through joint industrial and technological developments.

HE Al Jaber said: “In line with the UAE leadership’s vision, we are committed to strengthening bilateral relations to enhance sustainable and economic growth. Given the UAE’s strong relationship with India across the economic, technological, and social domains, we are pleased to sign this MoU to further develop the industrial sector in line with advanced technology and sustainability standards. This aligns with the objectives of the national industrial strategy, and ‘Make it in the Emirates’ initiative, aimed at transforming the UAE into a global hub for advanced industry, especially industries of the future.”

He added: “The MoU encompasses various aspects of cooperation aimed at promoting industrial investments in priority sectors for the national economies of both countries, including advanced industries, energy transition solutions, healthcare, and space. It also aims to develop innovative and technological solutions that support sustainability and climate neutrality efforts. By working closely within these strategic sectors, the UAE and India can accelerate sustainable growth and diversify their economies, promoting industries that are more competitive, efficient, and sustainable.”

HE Goyal commented: “This MoU opens new doors to develop cooperation efforts and build an institutional framework in the fields of emerging technologies. It will help in promoting and developing bilateral cooperation in sectors such space, healthcare, renewable energy, artificial intelligence, and many other vital areas.”

The MoU focuses on 7 key areas, including supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0 and advanced technologies, as well as standardization and metrology.

To build supply chain resilience, the UAE and India will collaborate to identify opportunities to supply raw materials. They will also share best practices on industrial enablement and incentivization for industrial growth and development, for instance in areas such as energy, land, CAPEX, OPEX, technology, and labor.

In the energy space, the UAE and India will collaborate in advancing energy storage technologies, Smart Grid and IoT deployment, and R&D in renewable energy and energy efficiency. Similarly, in health and life sciences, the countries will collaborate in the development of pharmaceuticals, the use of biotechnology, and R&D.

The UAE and India are also seeking to enhance their respective space industries through closer collaboration in space systems. The MoU will help the countries to collaborate in the commercial development, launch and use of small satellites for communication and Earth observation, as well as space exploration. The countries will also collaborate in the development of licensing of space-related materials, in addition to R&D in the space sector.

In the field of AI, the UAE and India will cooperate in the deployment of AI technologies in the space sector, energy, healthcare and supply chains. Both countries will work together to advance capabilities in machine learning and data analytics across priority sectors.

Under the MoU, the UAE and India will also collaborate in the deployment of 4IR technologies in industry, real-time data processing, the development of machine-to-machine control systems, the development of autonomous robotics, equipment and vehicles, as well as the deployment of additive manufacturing in key industries.

The final area of collaboration is standardization, metrology, conformity assessment, accreditation, and Halal certification. The countries will exchange information including procedures, guidelines, and lists of regulated products. The countries will also cooperate to harmonize standards with international requirements and work towards the mutual recognition of the conformity assessment results.

Under the MoU, cooperation includes industrial and academic collaborations as well as collaborative research and development projects. The countries will also share best practices relating to science and technology policies.

MoIAT launches incentive packages to drive advanced technology adoption in the industrial sector

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Sahfy Sahfy
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  • Free technology maturity assessments to help companies accelerate technological transformation.
  • Golden Visas offered to manufacturers that showcase initiative in leading technology transformation.
  • Industrial Technology Transformation Index (ITTI)

 

Abu Dhabi-UAE: 5 October 2023 – The Ministry of Industry and Advanced Technology (MoIAT) and its partners have launched new incentives packages aimed at supporting industrial SMEs in the UAE.

This aligns with the objectives of the national industrial strategy, Operation 300bn, to transform the UAE’s industrial base into a globally competitive, productive, and sustainable economic engine.

The packages, aimed at supporting manufacturers in the UAE include advanced technology funding schemes, Golden Visa opportunities, as well as free technology maturity assessments by Maxbyte, Schneider Electric and Abu Dhabi Department of Economic Development (ADDED).

Launched by MoIAT as part of the Technology Transformation Program (TTP), the ITTI is a comprehensive framework measuring the digital maturity and sustainability of factories. As well as enabling manufacturers to integrate 4IR applications, the ITTI supports companies to adopt sustainability best practices in line with international standards. Developed with leading industry players, consultancy firms, and technology providers, the index aims to accelerate technology adoption across priority sectors.

As part of the incentives launched at ADIPEC, MoIAT has also partnered with Maxbyte and Schneider Electric to provide free ITTI assessments for companies. Other incentive packages include Golden Visa opportunities for companies that achieve high ITTI scores.

Certified assessors from Maxbyte, which is a provider of 4IR solutions, will conduct 50 free-of-charge ITTI assessments by mid-2024. Similarly, assessors from Schneider Electric will conduct 25 assessments.

The ministry’s new incentive packages will also provide manufacturers and SMEs with the opportunity to nominate employees for a Golden Visa. Manufacturers with high maturity that achieved an ITTI score of 40-60 percent can nominate up to 2 individuals to receive the special visa, while digital leader in the sector with a score of 61 percent and above can nominate up to 5. Businesses must have applied for the ITTI assessment in the past 2 years to nominate.

To qualify for the Golden Visa, nominees must hold a bachelor’s degree in manufacturing, industrial engineering, technology, or their equivalent. Nominations are open for employees with an International Standard Classification of Occupations (ISCO) of 1 or 2, with a minimum of 7 years of professional experience in the sector.

Her Excellency Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, said: “These latest incentive packages reflect the ministry’s continuous efforts to drive technological transformation in the UAE’s industrial sector and attract foreign investment. As a critical part of the national industrial community and economy, SMEs are now being offered maximized support to integrate advanced technologies, enhancing productivity, competitiveness, sustainability and efficiency across the value chain. These partnerships aim to make manufacturing in the UAE smarter and greener in line with Operation 300bn and in support of the Make it in the Emirates initiative.”

Messe Frankfurt Middle East launches global logistics showcase in Dubai

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Sahfy Sahfy
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The new global logistics showcase will spotlight the future of supply chain, transportation, mobility, warehousing and material handling on a global scale

The show was announced to complement Automechanika Dubai’s 20th-anniversary celebrations and provide synergy with the automotive industry when it launches in December 2024

Dubai, UAE: Messe Frankfurt Middle East, a subsidiary of one of the world’s largest and most renowned trade fair and exhibition organisers, has launched a new logistics show which will take place from the 10 – 12 December 2024 at the Dubai World Trade Centre and is designed to drive the global logistics sector forward.

Launched on the sidelines of Automechanika Dubai yesterday, the logistics experiential showcase will take place alongside Automechanika Dubai, providing natural synergies between the automotive industry and the various verticals within the logistics sector and capitalising on the UAE’s position as the epicentre of the world’s logistics sector, bridging Africa, the Middle East, and Asia.

During the launch, a high-level leadership panel discussion entitled “Pioneering the Future: Driving the MEA Transport and Logistics Sector Forward with Emerging Trends and Innovation in Logistics and Supply Chain” outlined the challenges and opportunities within the sector and highlighted the importance of a dedicated logistics show in filling the current gaps within the industry.

The panel comprised local and regional logistics sector luminaries: Ghanim Al Falasi, Senior Vice President, Dubai Silicon Oasis; Fadi Azzi, Global Director, Logistics, Aramex International LLC; Vargheese Anthony, General Manager, Freight Management and Relocations, Al Futtaim Logistics; Dr Prakash Rao PhD, Group Head, Supply Chain Projects & Home Operations, Landmark Group and Tobias Mayer, CFO DHL Global Forwarding Middle East & Africa, CEO Middle East  & Africa, Saloodo, moderated by Edward Matti, Managing Partner, CCM Consultancy.

Ted Bloom, Managing Director, Messe Frankfurt Middle East, said: “We are acutely aware of the ever-evolving landscape of logistics as it adapts to lessons learned from the pandemic and strives for greater efficiency, resilience, and sustainability. The show will unite the leading minds, innovators and biggest sector operators in an exciting new forum to help shape the sector’s future.

“The Middle East and Africa region’s logistics sector is dynamic and evolving, driven by infrastructure development, trade growth, technological advancements, and changing consumer behaviour. These developments make the region increasingly important in global logistics and supply chain networks – and we aim to underpin that importance through this new addition to our Middle East offering.”

The three-day show will cover the key issues in this ever-changing sector, mindful that logistics providers must adapt to new challenges and opportunities to remain competitive, efficient and sustainable in a rapidly changing global economy. The show will provide a rare chance for key industry players to meet and help shape the sector’s future.

High on the agenda will be the increasing use of automation and technology – including AI, blockchain, warehouse automation (such as robots and drones), real-time tracking and monitoring, and digital supply chain platforms for visibility and efficiency. In addition, the rise in e-commerce, last-mile delivery issues and the associated investment required in advanced fulfilment centres, automation, and innovative delivery solutions will also be discussed.

Delegates will also have the chance to hear from sustainability and green logistics experts as environmental concerns drive a shift toward greener logistics practices.

“There are so many issues in the sector, so we expect a lively conference stream, backed by sector innovators revealing ground-breaking products and services at the exhibition,” added Bloom.

Talent and workforce challenges will be another hot topic, especially filling roles in technology, data analytics and automation, as will the growing complexity of regulation, cross-border trade, environmental compliance, new post-pandemic safety protocols and contactless operations.

As collaboration among logistics providers and shippers is growing – including sharing resources, optimising routes, and even collaborative warehousing to improve efficiency – the new launch will be the perfect platform for networking and forming new joint ventures.

“Dubai stands at the crossroads of innovation, collaboration, and growth in the logistics sector. Hosting such a world-class exhibition in Dubai is beneficial for the sector and essential to propel the industry forward. We look forward to the global community converging in Dubai to share, learn and drive the future of logistics,” concluded Bloom.

Media Registration

To reserve your media badge, or to learn more about Automechanika Dubai 2023’s accredited media eligibility criteria, please visit our ‘Information for Journalists’ page.

About Automechanika Dubai

Automechanika Dubai is the largest international automotive aftermarket trade show in the Middle East taking place at the World Trade Centre between 2-4 October 2023. Automechanika Dubai acts as the central trading link for markets that are difficult to reach connecting the wider Middle East, Africa, Asia, and key CIS countries.

For more information, please visit our website.

About Messe Frankfurt

The Messe Frankfurt Group is one of the world’s leading trade fair, congress and event organisers with their own exhibition grounds. With a workforce of some 2,160 people at its headquarters in Frankfurt am Main and in 28 subsidiaries, it organises events around the world. Group sales in financial year 2022 were around €454 million. We serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of Messe Frankfurt’s key strengths is its powerful and closely knit global sales network, which covers around 180 countries in all regions of the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are using our digital expertise to develop new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services. Sustainability is a central pillar of our corporate strategy. Here, we strike a healthy balance between ecological and economic interests, social responsibility and diversity.

For more information, please visit our website at: www.messefrankfurt.com/sustainability

With its headquarters in Frankfurt am Main, the company is owned by the City of Frankfurt (60 percent) and the State of Hesse (40 percent).

Further information: www.messefrankfurt.com

About Messe Frankfurt Middle East

Messe Frankfurt Middle East’s portfolio of exhibitions includes: Automechanika Dubai, Automechanika Riyadh, Beautyworld Middle East, Beautyworld Saudi Arabia, Intersec, Intersec Saudi Arabia, Gifts & Lifestyle Middle East, Light + Intelligent Building Middle East and Paperworld Middle East. In the 2022/23 event season, Messe Frankfurt Middle East exhibitions combined featured 3,939 exhibitors from 66 countries and attracted 151,990 visitors from 116 countries.

For more information, please visit our website.

AIM Congress 2024 Startup Pitch Competition opens doors for applications

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Sahfy Sahfy
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AIM Congress 2024 Startup Pitch Competition opens doors for applications
AIM Congress 2024 Startup Pitch Competition opens doors for applications

The AIM Congress 2024 Startup Pitch Competition, organized by AIM Startup, a key pillar of the AIM Congress, is anticipated to stoke the flames of entrepreneurship by inviting technology startups to go out on a journey for innovation, rivalry, and market dominance.
This yearly event not only promises an exciting startup competition, but it also acts as a crucial channel for establishing relationships with investors, government officials, key stakeholders, and
corporate visionaries. Around 500 startups and 100 investors that are expected to attend the event, will be immersed in a wealth of knowledge as the competition progresses, thanks to panel discussions and specially designed seminars, ready to propel their businesses to new heights and be put in the spotlight of international renown.
The doors to the competition will be open for applications on October 2, 2023, and will end on March 31, 2024. Interested startups from the technology sectors including Edtech, Fintech, Food  Agri tech, Mobility, Government, Green, Health, Augmented and Virtual Reality (AR VR),
Retail, E-commerce, Cybersecurity, Metaverse and the Deep Technology are welcomed and advised to submit their applications before the deadline.
The AIM Congress 2024 Startup Pitch Competition has unveiled an impressive roster of
activities set to captivate and empower participants. In addition to the highly anticipated pitch competition, this annual gathering will feature an expansive exhibition, a cutting-edge conference, immersive workshops, invaluable one-on-one mentorship and investment opportunities for both investors and startups.
Additionally, the Startup Pitch Competition will also feature new events that promise to elevate the overall experience. Startups will have the opportunity to articulate their vision and offerings with the “100 words” segment, allowing them to deliver a 100-word message about their company in front of an audience. The Investor Awards will be introduced to honor and acknowledge the pivotal role that investors play in the startup ecosystem, highlighting their contributions and commitment to innovation.
The competition will also introduce the “Reverse Pitch” event, offering investors a unique
platform to present their businesses directly to startups and the wider audience. However, for those seeking a more intimate setting, the “Closed Pitch” will provide startups with a rare chance to pitch their ideas in a private room exclusively in front of potential investors, facilitating
focused discussions and potential partnerships. “We are dedicated to fostering innovation and providing a stage for startups to shine. The introduction of these new events at the AIM Congress 2024 Startup Pitch Competition is a
testament to our commitment to nurturing talent and catalyzing growth. With these initiatives, we aim to enhance the competition experience, offering startups with opportunities to step into
the spotlight. We believe that innovation knows no bounds, and by creating a dynamic platform for startups and investors to connect, we are propelling the next wave of technological

advancements. Together, we are shaping a brighter future for the tech industry,” said AIM
Global Foundation and AIM Congress President Dawood Al Shezawi.
The AIM Congress 2024 Startup Pitch Competition will feature international key markets from Korea, Japan, Hong Kong, the United Arab Emirates, Portugal, Saudi Arabia, Egypt, Nigeria, Senegal, Kenya, India, and many other nations.
The 13th edition of the Annual Investment Meeting (AIM Congress) from 7 to 9 May 2024 will be held at the Abu Dhabi National Exhibition Center under the theme “Adapting to a Shifting Investment Landscape: Harnessing New Potential for Global Economic Development.” AIM Congress 2024 is organized with the support of the Ministry of Industry and Advanced
Technology and with the Abu Dhabi Department of Economic Development as a lead partner. AIM Congress 2024 is expected to attract a diverse audience, including those from government
and private organizations, international & regional civil society organizations, associations, federations, and academia from around the world. They will have the opportunity to engage in meaningful discussions, establish valuable connections, and explore investment prospects in various sectors.

The African Development Bank appointed Bloomberg as Country Manager for Tunisia

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Sahfy Sahfy
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The African Development Bank appointed Bloomberg as Country Manager for Tunisia
The African Development Bank appointed Bloomberg as Country Manager for Tunisia

The African Development Bank Group has appointed Ms Malinne Blomberg, a Swedish national, as Country Manager for Tunisia in addition to her current roles as Deputy Director General for North Africa and Country Manager for Libya and Mauritania.

Blomberg, a seasoned development finance professional with more than 25 years of experience, has served extensively in policy dialogue, portfolio and project management, advisory services, resource mobilization and outreach in both public and private sectors.

Through financial diplomacy, she built her career at the African Development Bank around partnerships with governments, the private sector and wide-ranging stakeholders to scale up financing and investments for Africa’s transformation. She joined the Bank in 2008 as a financial management specialist in the Water and Sanitation Department. She later headed its division covering West and Central Africa.

Blomberg was previously the Bank’s Country Manager for Egypt, where she managed a portfolio of $3 billion.

She also worked in the Agriculture and Agribusiness Department, focusing on climate finance. Her work has spanned Africa’s five regions, covering business development, structuring innovative investment projects and special initiatives, and promoting private sector participation with a focus on infrastructure.

Before joining the Bank, Blomberg worked for Arthur Andersen Business Consulting in the United Kingdom and on assignments in other global financial hubs as a manager in the financial services industry through 2001. In Uganda from 2003 to 2007, she served as Financial and Institutional Advisor to the  ministry of Water and Environment, supporting national efforts to strengthen institutional effectiveness and fund utilization and managing the ministry’s multi-donor trust fund.

Commenting on her appointment, Blomberg said: “As Country Manager for Tunisia, I am looking forward to deepening the strategic partnership between the Bank and the Country, and expanding the Bank’s support, especially in light of climate change and global events requiring new approaches and fast implementation for transformative results.”

African Development Bank President Dr. Akinwumi A. Adesina, said: “Ms. Blomberg is a proven results-oriented leader with extensive experience in leading country programme operations. As the current Deputy Director General for the North Africa Region, coupled with her experience serving as Country Manager for Egypt, Libya and Mauritania, Ms. Blomberg possesses in-depth knowledge of the region. She will help to ensure the continuity of high-level proactive policy dialogue to further strengthen the Bank’s partnership with the government, private sector and other development partners to generate more opportunities for financing and investments in Tunisia, a very important hub for the North Africa Region.”

Spain and its partners launch program to support sustainable tourism in Upper Egypt.

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Sahfy Sahfy
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business opportunities
business opportunities

The Spanish Cooperation and its partners launch a Program to support sustainable and innovative work and business opportunities in the tourism sector in Upper Egypt

 The Program will be officially launched next Tuesday, October 3rd, 2023 in Cairo.

  • The event will count on the invaluable participation of the Spanish Ambassador in Egypt and representatives of the Ministry of Tourism; Ministry of Education and Ministry of Manpower and other partners.
  • The Program will support more than 3.000 people in Upper Egypt, mainly women and youth.

The Development Program, carried out by Spanish development organisations: the Social Promotion Foundation FPS and CIDEAL Foundation, is a pivotal initiative aimed at fostering decent employment and entrepreneurial opportunities. With a strong emphasis on empowering the youth, particularly women, this program seeks to facilitate active participation in socieconomic endeavours within the local communities of Menya, Qena, Luxor, and Aswan, ultimately contributing to their holistic development and empowerment.

The program, titled ‘Promotion of Sustainable Economic and Social Alternatives through Tourism in Upper Egypt’, sets out to achieve multiple objectives. Beyond fostering sustainable tourism, it prioritizes job creation among young people, infrastructure development, establishing vital networks, and creating platforms for constructive dialogue among local stakeholders.

The overarching aim is to bolster the tourism sector’s growth, particularly targeting rural areas in Upper Egypt. In order to ensure direct coordination and enhanced impact in the field, three local partners were identified and engaged: Association of Upper Egypt for Education and Development (AUEED): ENROOT and Knowledge Economy Foundation (KEF), whose main representatives will give, during the event, an overview about the present local context and their main contributions to the Program.

PROJECT IN NUMBERS

The Program is set to positively impact over 3,000 people from Menya, Qena, Luxor and Aswan. Of these, over 800 young people will enhance their skills to generate revenue within the tourism sector.  Additionally, the program will empower over 400 local stakeholders, equipping them with innovative approaches in the tourism industry. This collective effort aims to propel sustainable growth and prosperity across these communities.

 

The International Islamic Trade Finance Corporation Honored its Chief Executive Officer

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Sahfy Sahfy
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The International Islamic Trade Finance Corporation Honored its Chief Executive Officer
The International Islamic Trade Finance Corporation Honored its Chief Executive Officer

The International Islamic Trade Finance Corporation (ITFC) is proud to announce that its Chief Executive Officer, Eng. Hani Salem Sonbol, has been recognized as the Islamic Finance Personality of the Year Award 2023 by the Global Islamic Finance Award (GIFA). The prestigious award ceremony took place in Dakar, Senegal, and was presided over by H.E Macky Sall, President of the Republic of Senegal, alongside high-level officials and industry leaders. Every year, the GIFA Awards Committee recognizes institutions and individuals from around the world for their exceptional contributions to the development of Islamic banking and finance.
Eng. Hani Salem Sonbol was bestowed with this remarkable honor in recognition of his outstanding leadership and unwavering commitment to ethical financial practices, promoting global economic growth, and upholding the principles of Islamic finance.
Upon receiving the award, Eng. Hani Salem Sonbol expressed his gratitude, stating, “It is an immense honor to receive the Islamic Finance Personality of the Year Award 2023. This recognition underscores the collective efforts of our dedicated team at the International Islamic Trade Finance Corporation. We remain committed to ethical financial practices that foster global economic growth while staying true to the principles of Islamic finance. This award is a testament to our unwavering mission to drive positive change, promote inclusivity, and cultivate innovation within the industry. I am grateful for the support of our partners, stakeholders, and the entire Islamic finance community as we continue to chart a path toward a more prosperous and equitable future.”
Eng. Hani Salem Sonbol reflected on the ITFC journey and its mission to be a catalyst for trade finance and trade development among OIC member countries and beyond. He highlighted the Corporation’s remarkable achievement of providing more than US$70 billion in trade financing since its commencement of business in 2008, supporting key strategic sectors such as agriculture, energy, healthcare, SMEs, and women-owned businesses using Shariah-compliant financing methods.

Eng. Hani Salem Sonbol emphasized ITFC’s holistic approach to making an impact in the lives of people in OIC member countries, combining trade finance with trade development interventions, and investing in programs designed to meet the unique development needs of OIC member countries. He acknowledged the countless individuals and organizations empowered by ITFC’s initiatives to thrive in the global economy.
Eng. Hani Salem Sonbol declared, “As we look to the future, we are committed to expanding our reach, deepening our impact, and continuing to serve as a catalyst for economic growth and development on our journey of advancing trade and improving lives.”
Founded in 2011, GIFA celebrates the achievements of individuals, institutions, and governments in promoting and advocating Islamic banking and finance and ensuring that it remains committed to social responsibility. As the most prestigious award in Islamic finance, GIFA promotes social responsibility, Shari’ah authenticity and commitment to Islamic banking and finance.

Saudi’s Alamiya makes bold move back into the film industry with the acquisition of Lyra Pictures

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Sahfy Sahfy
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Saudi’s Alamiya makes bold move back into the film industry with the acquisition of Lyra Pictures
Saudi’s Alamiya makes bold move back into the film industry with the acquisition of Lyra Pictures

Alamiya, a prominent live production and entertainment company in the Middle East with a fifty-year heritage, has announced its latest milestone in the industry – the acquisition of Lyra Pictures.

This transformative partnership marks a significant step towards shaping the future of film production in the region by harnessing the combined strengths of Alamiya’s vast resources and Lyra Pictures’ innovative film development strategies.

Founded in the 1970’s, Alamiya was the first cinema and television studio to be established in the Kingdom in order to meet development requirements caused by the oil boom at the time, although the company later changed business direction due to the ban on cinemas.

Lyra Pictures, co-founded by a seasoned media entertainment executive, Wesam Kattan, and an experienced strategy and analytics management consultant, Bassma El-Afghani, has been on a mission to raise the bar in regional storytelling. Combining global best practices with intricate regional nuances, and fusing creativity with data-driven audience insights, the young company has been recognized as an early industry disruptor.

The strategic acquisition indicates a clear intent by Alamiya to reestablish its presence in this space and signifies not only a merger of businesses, but also a convergence of expertise and vision.

Sultan Al Muheisen, Chairman and CEO of Alamiya, commented, ” This acquisition goes beyond business. It is about setting a precedent in the regional and local film industry. With Lyra Pictures under our wing, we combine traditional and modern film approaches to create something unique.”

Wesam Kattan, Co-founder of Lyra Pictures, added, ” Alamiya’s scale and reach, paired with our story-first approach, will create a synergy that promises to introduce innovative strategies to storytelling in the Middle East. We’re excited about what the future holds.”

Through their collaboration, Alamiya and Lyra Pictures, are primed to deliver unprecedented cinematic experiences to audiences, blending world-class production facilities with a fresh and forward thinking approach to content creation. The move is poised to give rise to an innovative film studio located in the heart of the Kingdom, supporting the attraction of local talent and IP, while also facilitating opportunities for international productions in Saudi Arabia.

The unique partnership is set for an exciting journey, highlighting the nation’s rapidly growing entertainment landscape, and assuring loyal fans that the future of entertainment in the region is exceptionally promising.

 

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