Thursday marked the beginning of the Holy Month of Ramadan, which was announced after the sighting of the crescent moon the previous night. As a result, the region will see changes to working hours and cultural practices, as well as the upcoming four-day Eid holiday weekend.
The occasion is being observed not just in the UAE and Saudi Arabia, but across the world.
On Friday, Kuwait Petroleum Corporation (KPC) reported that crude oil from Kuwait rose to US$75.94 per barrel on Thursday’s trading sessions, an increase of US$1.56 from the previous day.
Meanwhile, according to the Kuwait News Agency (KUNA), Brent crude futures fell 78 cents to $75.91 per barrel, and West Texas Intermediate declined 94 cents to $69.96 per barrel.
Khalifa University of Science and Technology has announced that its Petroleum Engineering department is now ranked 8th in the world by the 2023 Quacquarelli Symonds (QS) World University Rankings by Subject – Engineering and Technology. The university’s programme emphasises both petroleum engineering fundamentals and business processes applied to achieve optimal engineering solutions for field development and operations.
Additionally, Khalifa University’s Electrical and Electronics Engineering is ranked 99th in the world by the same ranking. The university also remains at the top in several engineering fields in the UAE, as well as in several natural sciences subjects. Khalifa University is ranked 181st worldwide overall in the QS World Universities Ranking 2023.
Emirates, the world’s largest international airline, is set to launch its signature A380 aircraft on a scheduled service to Bali from June 1, 2023. This marks a significant milestone in Indonesia’s aviation history as it will be the first scheduled A380 service to the country. The airline will replace one of its two daily services to Bali, which is currently operated by a 2-class Boeing 777-300ER aircraft.
The inaugural A380 flight, EK368, will depart from Dubai International Airport at 03:25 and arrive at Denpasar International Airport at 16:35 local time. The return flight, EK369, will depart Bali at 19:40 and arrive in Dubai at 00:45 local time. Adnan Kazim, Emirates’ Chief Commercial Officer, expressed excitement about the deployment of the world’s largest passenger aircraft to Bali, stating that the Emirates A380 is known for its fly better promise, world-class products, and services, and passengers will get to experience its uniqueness and unmatched beauty on flights to and from Bali.
Sankari Fashion Group and Sankari Investment Group have pledged AED 50 million towards the “1 Billion Meals Endowment” campaign. The initiative’s aim is to establish the largest Ramadan food aid endowment fund, operating sustainably to provide food security for the world’s most disadvantaged populations, especially those affected by natural disasters and crises. The campaign is the latest addition to the Mohammed bin Rashid Al Maktoum Global Initiatives, which seeks to enhance the effectiveness and sustainability of humanitarian work through various institutional initiatives, including the provision of healthcare, education, innovation, and community empowerment.
The Sankari family’s donation will be made in annual installments of AED 10 million over the next five years and will support sustainable measures to combat hunger and provide food security for vulnerable populations worldwide. Dr. Abdulkader Sankari, Founder of the Groups, expressed his gratitude to be part of such a generous initiative aimed at easing the suffering of others, which aligns with the UAE community’s values of giving and generosity.
According to the Dubai Land Department (DLD), a total of 3,164 real estate transactions worth AED8.6 billion took place in the week ending 24th March 2023. Of these transactions, 218 plots were sold for AED1.9 billion, while apartment and villa sales accounted for 2,177, totalling AED4.73 billion. The top three sales were two lands in Palm Jumeirah worth AED550 million and AED74 million, and a land worth AED70 million in Al Thanyah Fourth.
The most transactions were recorded in Al Hebiah Fifth with 94 sales transactions worth AED326.67 million, followed by Al Hebiah Fourth and Jabal Ali First. The top three apartment and villa transfers were an AED61 million unit in Mankhool, an AED54 million unit in Palm Jumeirah, and an AED52 million unit in Marsa Dubai. Mortgaged properties for the week reached AED1.54 billion, while 349 properties worth AED522 million were granted to first-degree relatives.
DP World and Delhi Capitals have announced a long-term partnership, with DP World becoming the Global Logistics Partner of the cricket franchise. The partnership was revealed at the Leela Palace Hotel in New Delhi and will feature DP World’s logo on the back of Delhi Capitals’ official match jerseys and training gear. Beyond logistics, the partnership aims to promote a shared vision of high-performance and innovation, resonating with the multi-cultural city of New Delhi. DP World’s multimodal logistics capabilities across 75 countries support cricket globally by providing agile and reliable supply chain solutions.
This partnership offers DP World a platform to connect with stakeholders in India and beyond, as part of its expanding portfolio of cricket sponsorships. The partnership commences on April 1, 2023, with Ricky Ponting guiding Delhi Capitals in their match against the Lucknow Super Giants at the Arun Jaitley Cricket Stadium.
The Dubai Police’s NFT project has been recognized with the Best NFT Government Project award at a global ceremony hosted by the Emirate of Dubai for the first time. Colonel Hussain Ahmed bin Ghalaita, the Deputy Director of the General Department of Artificial Intelligence for Smart Applications Affairs, received the award at the ceremony, which was attended by Hessa Al Balushi, Director of the Smart Applications Department, Lieutenant Colonel Ahmed Al Haj, Acting Director of Administrative Affairs, and the ‘Dubai Police NFT’ project team. Col. bin Ghalaita expressed his pride in the award and emphasized that Dubai Police is a leading government institution in launching collections of non-fungible digital assets or NFTs.
The project includes 150 free digital assets that represent the Force’s values of innovation, security, and communication, and it aligns with the government’s directives to attract those interested in the growing trend of digital assets. Dubai Police is the first government entity in the UAE and the first police agency globally to create and launch its own set of non-fungible tokens for free through social media platforms.
Samana Developers launches Wave-2, a new AED200m residential tower in Dubai’s Jumeirah Village Circle (JVC), with 170 apartments ranging from studios to two-bedroom units. The tower, spanning over 263,636 square feet, is designed by expert architects who have incorporated modern luxury living into the project while keeping budgets in mind. Wave-2 follows the successful sell-out of Wave-1, which was launched in March 2022.
Residents of the tower will enjoy various amenities, including private pools, water cascades, a leisure deck, a health club, valet parking, and retail spaces. According to Imran Farooq, the CEO of Samana Developers, Dubai’s real estate market is currently experiencing a historic rise, with the bullish trend expected to continue in 2023, following regional and international events.
Venture capital raised by tech start-ups at Abu Dhabi’s Hub71 has reached AED4.5bn ($1.2bn), with over 900 jobs created. In 2022, the community grew by 102%, with more than 200 start-ups, including 51 early-stage companies, joining Hub71 to scale their businesses. The initiative facilitated 41 proofs of concept for corporate partners, worth AED160m ($43.5m) by year end.
Additionally, Hub71’s incentive programme helped founders save AED81m ($22m) in costs, contributing to their success. The ecosystem expanded initiatives to attract tech start-ups to Abu Dhabi, providing access to a growing pool of investors. Hub71 is driving technological advancements and supporting the economic diversification of Abu Dhabi, with its impact expanding globally. Hub71 is launching Hub71+ specialist ecosystems in Digital Assets, ClimateTech, and BioTech in 2023 to broaden its reach into specific technology subsectors.
