Key pillars for converting the nation’s food and agriculture sector into a global force are unveiled by the minister of economy.

Since he unveiled each of the seven essential components of the plan of action in achieving it, Abdullah bin Touq Al Marri, the minister of economy, reaffirmed the UAE’s dedication to transforming its agricultural and food sector in order to increase its impact on GDP by ten billion dollars and create 20,000 employment opportunities over the next five years.

The main strategies include localizing innovation, encouraging a UAE-first food and cultural supply chain, and giving farmers the assistance and tools they need to become world leaders in agri-food technology and sustainability.

On Thursday, Bin Touq announced the conclusion of the fifth Future Food Forum and lauded the nation’s F&B sector endeavors in developing skills and digital infrastructure capabilities attained via various programs to transform how foods is grown, transported, and consumed in the surrounding area and globally.

The two-day conference at the Le Meridian in Dubai Hotel explored the future of the business as well as the expanding impact of the food industry on the economy and well-being of the UAE. It is encouraging and vital to our future that the UAE’s present economic and industrial progress continues. Today, the UAE is regarded as one of the most significant hubs for international food logistics. Everyone is aware that it is the port with the greatest accessibility for container ships between the point of origin and the destination, facilitating the supply and consumption of food. A significant component of trade in general is food. The trade in food items reached AED 130 billions in 2022 as opposed to AED 105 billion in the year 2021, growing by 24 percent in just one year. Food trading accounted for 5.7 percent of the UAE’s non-oil GDP.

The first pillar, according to him, entails localizing the next wave of agri-disruptors and developing them into world leaders by fostering local talent and innovation and by identifying and promoting the solutions of the future. The second step is to establish the UAE as a global regulatory powerhouse, which will guarantee that our products meet better standards and are well-known around the world. The third entails fostering a UAE-first culture by putting domestic production first and lowering dependency on imports in order to support the entire agricultural value chain. The fourth pillar, which tries to give industry participants enough finance, is nevertheless essential in the meanwhile.

In response, Bin Touq remarked, “Our plan will look into acquiring funds and support. Accessibility to funding is the reason people flourish and industries evolve.This takes us to our number five pillar, which is to nurture innovation with top-notch R&D innovation because it is the basis of advancement. To spur transformation, we will offer top-notch research and development programs.

The sixth pillar will also concentrate on opening doors for all stakeholders in agriculture to broaden their perspectives and access new markets. The strategy also aims to develop the coming generations of growers, who will shape both agriculture and agritech in the future. In order to ensure that the agricultural workforce is ready to handle the difficulties and possibilities that lie ahead, Bin Touq stated commitment to supplying farmers with the expertise, equipment, and assistance they require for success through training programs, modernization efforts, and support systems.

Emirates Development Bank reiterates its commitment to UAE food security.

The event, which will take shape in Dubai from September 20 to 21, 2023, brings together significant regional and global actors in the food business to support the food sector’s sustainable future in the MENA region.
United Arab Emirates: Dubai The 5th yearly Future Food Forum is being attended by Emirati the Development Bank , which is the primary financial driver of the UAE’s economic growth and industrial innovation, demonstrating its dedication to the country’s food security.

The event, which will take place in the city of Dubai from September 20 to 21, 2023, brings together significant regional and global actors in the food business to support the food sector’s sustainable future in the MENA region.

One of the EDB’s five priority sectors, food security is crucial to the UAE’s ambitions for economic diversification and national growth. The Bank offers considerable monetary assistance as well as specialized solutions to improve regional tech-driven food production. To inject much-needed money into the agritech sector, EDB recently introduced a special AgriTech Loans Program. The initiative intends to offer crucial assistance to regional manufacturers, farmers, agricultural companies, and food-related projects in the form of favorable, longer-term loans with tenors up to AED5 million.

According to Ahmed Al Naqbi, the CEO of Uae Development Bank, “food security is at the top of our priority as the development bank for the UAE and a crucial economic engine driving national economic development. We want to help the United Arab Emirates National Food Security Program 2051 achieve its goals by providing increased financial support to firms, providing specialized agritech loans, forming alliances with start-ups, and working with other important players. Our actions are a reflection of our dedication to strengthening the nation’s agricultural sectors and capacity for food production. allowing the UAE to lead the region in both industries.

“We can showcase our flexible finance offerings to the appropriate audience on the Future Food Forum.Additionally, we are eager to learn more about the present and foreseeable challenges that the industry of food security faces and to urge for increased cooperation among government stakeholders, regional producers, and value-added resellers, which is essential for a healthy food ecosystem.

support the National Food Safety Strategy 2051 of the UAE and encourage the adoption of cutting-edge farming methods and technologies. EDB has a number of collaborations in place. Among them is a collaboration with the Entrepreneurial Nation project of the United Arab Emirates Ministry of Economy to promote the Smart Agriculture Global Innovation Challenge, an initiative that aims to maximize the digitalisation of agriculture for businesses operating in the UAE and around the world.

Additionally, EDB and Food Tech Valley have a contract in place for EDB to offer financial assistance to businesses engaged in the initiative. Upcoming clean technology-based agricultural and food goods are developed in Food Tech Valley, a center for innovation. In an effort to promote agritech entrepreneurship and improve the food security of the UAE, EDB has also entered into a cooperation with the country’s Ministry of Climate Change and the Environment (MOCCAE) to establish a program that will provide funding solutions to contemporary agricultural SMEs and startups.

EDB has an obligation to authorize AED30 billion in funding support to 13,500 businesses within its five priority sectors, which include food security, renewable energy, manufacturing, technology, and healthcare. Aligned with the government’s objectives, EDB continues to fulfill its goal of promoting a healthy, environmentally friendly, and self-reliant economy.

UAE will increase the economic contribution of the food and agriculture industry by $10 billion

According to Economy Minister Abdulla bin Touq, it also intends to finance new projects and generate 20,000 employment over the following five years.
In order to increase food security in the nation, the UAE plans to increase the economic contribution of food and agriculture by $10 billion and generate 20,000 new employment over the course of the next five years, according to the Minister of Economy.

Abdulla bin Touq said at the Future Food Forum in Dubai, “With a growing population, food security assuming the highest priority, the UAE is doing well on this front and was on top of the global food security index 2022 compared to other Mena counterparts, but the challenges for food in these uncertain times are real and present.

However, he claimed that the sector’s “resilience and adaptability” enable it to successfully deal with these difficulties.

Additionally, Mr. bin Touq unveiled seven key pillars to transform the food and agriculture industries, emphasizing domestic innovation, a UAE-first mindset in society and the food supply chain, and providing farmers with the support and tools they need to make their nation a global leader in sustainable agriculture.

Through initiatives to foster talent and innovation, the first pillar aims to ensure that the next generation of agricultural disruptors is local.

The second goal is to establish the UAE as a global regulatory powerhouse to guarantee that goods are of a higher caliber and are acknowledged on a global scale.

The third prioritizes domestic production and lessens reliance on imports in order to foster a UAE-first culture throughout the entire food value chain, while the fourth focuses on providing adequate finance to industry participants.

“Access to funding is why people grow, industries evolve, and our strategy will look into securing funding and support,” Mr. bin Touq added.

This takes us to our fifth pillar, which is to nurture innovation with top-tier R&D innovation because it is the basis of advancement. To spur transformation, we will offer top-notch research and development programs.

By establishing pathways for all stakeholders in agriculture, the UAE will also concentrate on helping players to diversify and get access to new markets.
The UAE is encouraging the expansion of a number of businesses, including food and agriculture as well as other non-oil sectors, in an effort to diversify its economy away from the oil sector.

By 2051, the UAE should be ranked first in the world for food security, according to the National Food Security Strategy.

The strategy also intends to develop the following generation of farmers.

It lays out strategies for creating a comprehensive national system focused on advancing local production while permitting sustainable food production using contemporary technologies.

A significant portion of the UAE’s overall trade is made up of food items, making it one of the most significant hubs for global food logistics.

Food commerce reached Dh130 billion ($35.4 billion) in 2022, an increase of 24% from 2021.

The government-owned lender Emirates Development Bank, which finances the UAE’s key industries, launched its AgTech loans program earlier this year with a budgetary commitment of Dh100 million to the nation’s food security sector.

According to EDB at the time, the program aims to expand the country’s agricultural industry in line with the UAE’s aspirations to lead the world in agricultural innovation.

It will target farmers, regional producers, technology companies, equipment manufacturers, and other players in the ecosystem that supports agriculture.

The program offers medium-term loans or working capital sums of up to Dh5 million with “competitive rates” and a long tenor of 10 years. It also offers capital expenditure and working capital financing.

UAE awards Yahsat a $5.1 billion contract for satellite capacity and services.

Yahsat, also known as Al Yah Satellite Communications, announced on Friday that the UAE has given its government services arm a Dh18.7 billion ($5.1 billion) 17-year services mandate to offer satellite capacity and managed services.

The agreement includes services currently covered by a different contract for ground segment satellite systems and terminal operations, maintenance, and technology management.

Two current agreements will be replaced by the mandate when they expire in November and December of 2026, respectively.

Multi-mission satellite services are provided by Yahsat, a subsidiary of Mubadala Investment Company, the sovereign investment arm of Abu Dhabi, in more than 150 nations in Europe, the Middle East, Africa, South America, Asia, and Australasia.

As part of the new contract with the UAE government, Yahsat will continue to operate its two existing satellites, Al Yah 1 and Al Yah 2, as well as two further satellites, Al Yah 4 (AY4) and Al Yah 5 (AY5), which are scheduled to be launched in 2027 and 2028, respectively.

“This award is a testament to our long-standing cooperation with the government because it will allow us to provide the government with innovative, cutting-edge technologies that will complement our current fleet of Al Yah 4 and Al Yah 5 satellites. are not currently possible.

According to the company, “The performance of the new satellites is expected to significantly surpass current industry capabilities, including capacity, coverage, and flexibility, allowing us to offer a wide range of next-generation applications to our end user.”

The new mandate stretches backlog well through 2040 and raises Yahsat’s contracted future revenue to Dh25.7 billion, more than 16 times its 2022 annual revenue. It also improves the company’s future cash flow.

Yahsat’s group chief executive Ali Al Hashemi declared, “This is a new chapter in Yahsat’s momentous journey… our financial position has never been stronger.”

“We remain optimistic about offering the government and our customers a broader, more diverse, and cutting-edge solutions portfolio.”

Yahsat, which is listed on the Abu Dhabi Securities Exchange, stated last month that the success of its infrastructure sector had helped it increase first-half earnings by 5%. According to the corporation, normalized earnings for the six-month period ending in June increased to $48 million.

Yahsat and Airbus agreed to build AY4 and AY5 in June after signing a contract.

According to the firm, Yahsat will use its own funds, as well as other possible funding methods and a $1 billion government advance payment to be received in 2024, to pay for the AY4 and AY5 procurement, which includes the spacecraft, ground segment infrastructure, launch, and insurance.

With its current fleet of five satellites, the company can now reach more than 80% of the world’s population, making it possible to provide mobility solutions, broadcasting, and other vital communications services.

A national satellite remote sensing and Earth observation capability-building space initiative was launched in May by Yahsat and Bayanat, a producer of geospatial data goods and services.

In a statement to the ADX at the time, Bayanat stated that the space program will search for revenue opportunities in the regional and international Earth observation market.

Oracle’s cloud service in the UAE and Saudi Arabia is probably going to get better.

Oracle has plans to add more cloud regions in Europe, the Middle East, and Africa, with the UAE and Saudi Arabia leading contenders thanks to their rapid adoption of the technology, according to the company’s top regional executive. High digital adoption rates and a strong government push are attractive drivers for growth, the executive claims.

The two largest economies in the Arab world also stand out because of the support given to innovation by their governments, according to Richard Smith, executive vice president of technology for Oracle’s Emea region, who spoke with The National.

“Across Emea, we have priorities. On the other hand, [the UAE and Saudi Arabia] are unquestionably very high growth regions,” he said on Wednesday in Las Vegas, outside the Oracle CloudWorld convention.

“Government agendas for digitisation are significant drivers for cloud adoption, which is one of the things that is quite powerful in the region.

And if you look at Saudi Arabia or the United Arab Emirates, everyone talks about social and citizen services, which is what is causing the cloud to be adopted and deployed so quickly.
According to Mr. Smith, Texas-based Oracle continues to make “very, very big” investments to expand the capacity of its data centers while making sure that these investments are in line with local social, governmental, and security goals.

Making sure that the alliances we are forming are in line with the national ambitions that many of those countries have is one of the main obstacles, not the opportunity itself.

The usage of cloud technology is expanding in the Middle East as young consumers’ interest in technology grows and the digital landscape changes.

This has encouraged international cloud service providers to take advantage of the region’s potential, particularly in the UAE and Saudi Arabia.

As part of their ambitions for economic diversification, the two nations are placing a lot of emphasis on technology and innovation.

A total of five Oracle cloud regions will eventually be shared by them.

A cloud region is an area that contains a cloud data center, which is a physical facility that holds the IT infrastructure needed to operate applications and related services as well as manage and store relevant data.

The first cloud area in the Middle East, which will open in Jeddah in 2020, was welcomed by the monarchy, while a second cloud zone in Riyadh was also announced at the Leap technology conference earlier this year. According to chief information officer Jae Evans, a third of the future metropolis of Neom will go live “soon.”

The cloud zones in Dubai and Abu Dhabi got going in September 2020 and November 2021, respectively.

A quarter of Oracle’s 45 public cloud regions, spread over 23 countries, are in the Middle East.

Other international giants beyond Oracle have opened cloud and data centers in the Middle East, including Microsoft, Amazon, IBM, and Alibaba Cloud.

In terms of acceptance and development, the region is “certainly among some of the fastest in the world.”

To guarantee that services meet needs, Oracle maintains tight connections with regional governments.
For instance, the business collaborates “very closely” with Saudi Arabia’s cybersecurity agency before the issuance of new legislation.

So that we can comprehend how they think and what they want, Mr. Smith added.

“A joint effort of that nature is really effective. And I do observe a significant desire in the Middle East to use that strategy. Other nations can differ slightly from ours.

According to Cherian Varghese, senior vice president of technology for small and medium businesses at Oracle, the company’s cloud computing services are also advantageous to these businesses, who make up more than a quarter of its clients in Emea.

The company has about 315,000 SMB customers around the world.

Citizens of Saudi Arabia who are prepared to “pay more” for sustainable broadband

In comparison to necessities like water and electricity, 91 percent of Saudi respondents now classify broadband as “critical national infrastructure,” above EMEA averages.
Consumer expectations have changed, according to the most recent Cisco Broadband Survey, which included 2,000 Saudi Arabian respondents. This marks the beginning of a significant change in the Internet connectivity industry.

Consumers in the kingdom are reassessing how much they rely on the Internet, juggling their desire for dependability and speed with the growing demands of environmental consciousness and the emergence of the Internet of Things (IoT), which connects everything from smart cars to household appliances.

Consumer broadband preferences in Saudi Arabia are influenced by sustainability
A consensus has emerged as a result of this transition, with 91 percent of Saudi respondents now classifying internet as “critical national infrastructure,” equating it with necessities like water and electricity and exceeding EMEA averages.
The rise of sustainability as a key influence on consumer decisions is a prominent feature of this revolutionary environment.

The younger group, those in Saudi Arabia between the ages of 18 and 24, has the highest level of anxiety, at 73%, and has expressed concerns about the carbon footprint of their broadband at a startling 65 percent of consumers.

Additionally, 92 percent of respondents in the kingdom indicated that they would be willing to pay more for sustainable broadband, with almost a quarter saying they would be willing to pay more than double that amount.

Our survey has shown that Saudi Arabian consumers are becoming more conscious of the environmental impact of technology. This is consistent with KSA efforts to create a more prosperous and sustainable society and represents a cutting-edge strategy to advance sustainability in the nation, according to Salman Faqeeh, Managing Director of Cisco Saudi Arabia.

“In the modern world, it is more important than ever for digital transformation to cooperate with sustainability. At Cisco, we think the tech sector has a special chance to drive the dual transition to a digital and green future.

The need for processing power and bandwidth to handle the enormous amounts of created data is growing as the IoT age develops.
More than half of Saudi Internet users use their connections primarily for social media interaction (58%) followed by video streaming and gaming (57%) and online reading, browsing, or shopping (53%) activities.

In Saudi Arabia, respondents are increasingly integrating a range of connected devices into their home Internet services, including smart lights (29 percent), home appliances (30 percent), and home entertainment systems (54 percent). This evolution has also ushered in a preference for a “smarter” digital life.

UAE iPhone 15: Long lines of customers at Dubai Mall; closed Apple shop

Although hundreds of people flocked to the store the night before the new model’s introduction, it was supposed to go on sale on Friday.
A day before the new iPhone 15 unveiling, hundreds of people started lining up outside the Apple store in the Dubai Mall, so security guards closed the entrance.

On Friday, September 22, the iPhone 15 is expected to go on sale in a number of nations, including the UAE.
At the mall, a security guard advised eager customers to make reservations online or visit at a later time. Tomorrow will be a huge day, so we’re getting ready. The shop is currently not open to customers. The security guard assured team KT, “We are making sure everyone is safe and at ease.

Many locals were anxiously down the minutes until they could purchase the new model. Aziz Karimova, an expatriate from Uzbekistan, arrived at the mall as early as 4 p.m. to find out how he might get his pre-ordered phone. “I just relocated to Dubai, so I don’t know how things are over there. I traveled to the Dubai Mall after viewing a few films there, said Karimova.
“Since I’ve always been an Apple fan, I was able to reserve the phone on the first day. According to the crowd today, I believe I must arrive early the next day for the phone, Karimova continued.

The iPhone 15 was first unveiled on September 13 and contains a number of distinctive features, including as a 48MP main camera and a titanium body.

Among the many locals who attended the mall were hundreds of Apple fans like Ahmed Sufyan. Although Sufyan, an Egyptian expat working as a marketing professional, had only recently arrived at the mall, “the crowd made me believe that they are giving out the phones a day before,” he claimed.

Sufyan stated, “I’ve already made a pre-order, and the delivery is planned for September 27.
The days leading up to the new model’s release have seen a tremendous amount of talk and enthusiasm. Visitors from the Northern Emirates who were in Dubai want to stay at relatives’ homes overnight and visit the mall the next morning.

Lebanese realtor Badr Sameer was in Dubai Mall when the enormous crowd astounded him. It was similar to a festival. “Only during festivals have I ever seen such crowds at the mall, and I frequent it frequently,” remarked Badr.

Official Groundbreaking For Taraf’s Iconic Residence “Luce” On The Palm Jumeirah Marked

The groundbreaking for Taraf’s future property, Luce, an exquisite residential complex situated on Dubai’s Palm Jumeirah, has been completed. Taraf is the real estate division of investment holding company Yas Holding, which has its headquarters in the UAE.

The building phase officially begins with the groundbreaking, moving the project one step closer to completion. Asasat Aldhafra APCC Building Contracting, a construction company that began enabling activities in August, and award-winning MZ Architects are partners in Taraf.

“Luce represents an innovative viewpoint on luxury living tailored for discerning local and international investors,” said Low Ping, CEO of Yas Holding Group. We exhibit our dedication to providing top-notch products in the real estate business by using Taraf’s distinctive and distinctive approach. We offer an invitation to see the seamless fusion of exclusivity, luxury, and unmatched design that will transform contemporary living when we start work on Luce.

The CEO of Taraf, Ahmad Shibel, stated: “We’re excited to be beginning development on Luce, Taraf’s first iconic property. With this groundbreaking, we are making progress toward our goal of redefining residential property standards in order to influence the future of luxury living. We’re honored to collaborate on this with partners who are each industry leaders.

The successful launch of Luce has piqued consumers’ curiosity in a distinctive living environment. In order to give inhabitants the utmost comfort and refinement, the development offers a variety of residential units, including roomy flats. Each apartment promises an unrivaled lifestyle in the center of Palm Jumeirah with its cutting-edge amenities, modern décor, and expansive waterfront views.

Private beach access to powdery white beaches is available at Luce, along with luxurious lifestyle facilities, roomy 2-, 3-, and 4-bedroom homes with views of the ocean, a duplex, and a penthouse. The graceful curves and organic lines found in nature, on the beach, and in the sand, as well as the fluidity found in Dubai’s desert and waterscapes, served as the basis for the building’s design.

ACUBE establishes a real estate development division in Dubai with numerous brand-new housing projects totaling 1 million square feet in three years.

With the groundbreaking ceremony for the first of several planned opulent residential buildings over the following three years, ACUBE Real Estate Development LLC makes its entrance into Dubai’s booming real estate market. On schedule to be completed by Q1 2025, Adhara Star, a 17-story luxury residential skyscraper in Arjan, will have 113 completely furnished 1-, 2-, and 3-bedroom flats in addition to retail spaces.

ACUBE is a brand-new division of ACUBE SFO DMCC, a single-family-owned group of businesses with more than 20 years of experience in international commercial and residential development, including significant building projects around the GCC.

Adhara Star skyscraper is the first of two constructions that Acube will launch in 2023, and the company is on track to develop and sell 1 million square feet of residential property in Dubai by 2025.

Ramjee Iyer, Chairman and Managing Director of ACUBE Real Estate Development, stated, “Our mission is to create exceptional living spaces that transcend the ordinary, enrich lives, and reshape the concept of modern living; we are committed to crafting developments that mirror our unwavering dedication to excellence and integrity. “The executive team of ACUBE has more than 20 years of experience in building and investing in real estate in Europe, India, and the Middle East.

We have a clear vision for our part in Dubai’s ongoing transition to better, smarter, more sustainable developments, as well as a profound understanding of global real estate dynamics.

The developer’s first tower, Adhara Star, in Arjan – Al Barsha South, will be a symbol of ACUBE’s dedication to fashion, excellence, and affordability. The 17-story tower’s completely furnished units include with the finest materials and equipment, including high-quality porcelain and ceramic tiling, Bosch whitegoods, and Roca sanitary ware for the bathrooms. The skyscraper also complies with vastu. Adhara Star provides residents with all the conveniences of communal living, including pools, a playground for children, a basketball court, a paddle tennis court, a running track, indoor and outdoor gyms, saunas, jacuzzis, steam rooms, and yoga studios.

AED 999,000 is the starting price for a one-bedroom apartment, AED 1.3 million for a two-bedroom, and AED 1.7 million for a three-bedroom.

The demand for high-end, well-constructed residential apartments will continue to be high as Dubai’s growing momentum and appeal as one of the world’s happiest, safest cities continue to draw foreign investors. By designing spaces that capture the spirit of luxury, functionality, and elegance, we have the chance to showcase our abilities and accelerate Dubai’s urban progress,” continued Iyer.

UAE’s overall income increased 32% in 2022.

According to the finance minister of the United Arab Emirates (UAE), revenue increased by 31.8% in 2022, contributing to a general budget surplus the previous year.

The UAE, one of the most economically diverse countries in the Gulf, has been expanding its non-oil sectors, putting particular emphasis on industries including trade, tourism, manufacturing, logistics, and financial services.

The finance minister, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, was quoted by state news agency WAM as saying that spending climbed 6.1% year over year in 2022 to reach over 427 billion dirhams ($116 billion).

It added that the surplus will enable greater fiscal buffers to reduce potential financial risks. “In spite of the rise in revenues, the UAE continues to follow a cautious and sensible spending policy,” it stated.

It did not provide a figure for the budget surplus for the entire year, but in May the central bank reported that the surplus for the first nine months of 2022 reached $46 billion, helped by robust growth in oil and non-oil revenue as well as high oil prices. Non-financial asset purchases increased, rising 94.5% year over year in 2022.