Swiss International School Dubai Offers Dedicated Hospitality Management Course In Conjunction With The Emirates Academy Of Hospitality Management And Jumeirah Group

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Swiss International School Dubai Offers Dedicated Hospitality Management Course In Conjunction With The Emirates Academy Of Hospitality Management And Jumeirah Group

First school in region to offer BTEC Hospitality Management Course, and in association with #1 Hospitality University in the UAE and one of the world’s leading hotel groups.

Offered as part of the school’s IB careers-related programme for students aged 16-18 years,

Swiss International School Dubai is now adding to its extensive educational syllabus with a BTEC International Level 3 Extended Diploma in (Business and) Hospitality.

Bolstering its Swiss heritage, the award-winning school – one of the only boarding schools in the region to offer the IB curriculum – is now delivering a Hospitality IB pathway to students wanting to pursue a Swiss quality education and premium university option.

Megan La Caze, Head of Secondary, says: “We are delighted to offer this option to our students. The course reinforces our link to Switzerland and the Swiss hospitality industry, deemed to be the best in the world.  Our students are already heading off to Les Roches, EHL and Glion in Switzerland and now we want to give them the best possible chance of success for their future pathways and careers.”

Principal Ruth Burke adds: “We are the only school in the UAE to offer this exciting opportunity to pupils. It’s important to ensure our students are given every chance to pursue their career choices from a young age and given that Switzerland is renowned for offering some of the world’s top hospitality training, it’s a logical and appropriate fit for us to deliver this internationally recognised and respected qualification.”

The courses will be delivered via the hotel.school platform, with weekly on-site practical lessons taught at The Emirates Academy of Hospitality Management (EAHM), one of the world’s leading hospitality business management schools and a subsidiary of the Jumeirah Group, a global luxury hotel company. Students will also have the opportunity to gain work experience and opportunities with the Jumeirah Group and other prestigious hotel chains.

The BTEC is an excellent qualification to help secure limited places at top hospitality-focused universities in both Switzerland, the UAE and worldwide.

“We are very proud of this collaboration, and we are confident that the education we provide at EAHM will enable SISD students to grow, learn, and embark on a rewarding journey,” says EAHM Managing Director, Jeroen Greven. “Our learning environment is personalized, our faculty is industry-leading, and our facilities are first-rate. There is no better place to learn world-class hospitality.”

The hospitality management diploma is an internationally recognised course developed as a progression route to the professional qualifications offered by the Institute of Hospitality. It encourages and provides opportunities for learners to access higher education, vocational qualifications such as a full-time degree in hospitality management or related areas such as business management and tourism management.

Through the new course of study, students will gain industry experience and learn about all aspects of hospitality, including food and beverage, conference and events, luxury, sustainability, front office operations, technology and digital media, revenue management among others, preparing SISD’s international student cohort for lucrative careers.

The chance to study for the course begins in September 2023, as a part of the school’s ICBP programme’s vocational education options. The new course is the latest addition to SISD’s ever-evolving educational offerings, which also include a BTEC in Business Management.

Community Resale Fashion App BAZAARA raises US$230K

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Community Resale Fashion App BAZAARA raises US$230K

Bazaara, the innovative resale fashion app that enables users to buy and sell pre-loved fashion items and accessories directly from other users, announced today that it has successfully raised US$230,000 in its pre-seed round led by Flat6Labs UAE, with participation from several angel investors.

Bazaara aims to revolutionize the way people shop for fashion by creating a sustainable and community-driven platform that allows users to earn money from recycling their wardrobe items. Since its launch in 2021, Bazaara has established itself as the largest peer-to-peer resale fashion app in the UAE, boasting an impressive base of approximately 20,000 users. To date, the platform has accumulated over 25,000 listings, with a combined value of more than $1.5 million.

“This new round of funding is an exciting milestone for Bazaara as we build on our early success and expand our platform’s reach across the GCC. With a full launch in KSA planned for 2023, we aim to provide an even more seamless and sustainable way for our user base to thrift shop. The investment is a testament to the organic growth we have achieved so far and the potential for further expansion. We are thrilled to continue on this journey and provide more value to our users in the region,” said Alyssa Mariano, CEO and co-founder of Bazaara.

Bazaara’s appeal spans across different audiences who are passionate about thrifting for its sustainability, affordability, and creative expression. This has led to up to an average month-on-month growth rate of 70% and an increasing popularity of the platform. 

Bazaara has simplified users’ buying and selling process, with a courier automatically dispatched to collect and deliver sold items and earnings deposited directly into the seller’s account. The app is free to use, with a small transaction fee added on top of seller’s profit for each sale. Users also enjoy the excitement of discovering rare, unique, and vintage one-of-a-kind pieces that cannot be found elsewhere.

“At Flat6Labs, we are always looking for innovative startups that have the potential to make a positive impact on the world. Bazaara’s community-based platform is doing just that by promoting sustainable practices in the fashion industry. With a rapidly growing user base, Bazaara is not only tapping into the increasing demand for sustainable fashion options but also creating a community-driven marketplace that connects buyers and sellers in a unique way. We are thrilled to support Bazaara’s growth and mission to create a more sustainable future for fashion.” says Ryaan Sharif, General Manager at Flat6Labs, UAE. 

The Bazaara app is available for download free of charge on both the iOS App Store and Google Play store in both the UAE and KSA.

Air Arabia shareholders approve 15% dividend distribution

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Air Arabia shareholders approve 15% dividend distribution

Air Arabia (PJSC) (DFM:AIRARABIA) shareholders approved the distribution of 15 percent cash dividend for the financial year ending December 31, 2022 at the company’s Annual General Meeting (AGM). The dividend, which is equivalent to 15 fils per share, reflects another year of record financial performance for the award-winning low-cost carrier.

The Board of Directors’ recommendation follows the airline’s robust financial performance in the year ending December 31, 2022, where Air Arabia reported a record net profit of AED 1.2 billion, an increase of 70 percent compared to 2021.

During the AGM, the report of Air Arabia’s auditors, balance sheet, as well as profit and loss accounts were approved by the assembly for the year ending December 31, 2022.

Furthermore, the Board of Directors and auditors of the company were discharged from liability for the financial year ending December 31, 2022, while auditors for the next fiscal year were appointed and their remuneration fixed. The assembly also elected the board of directors for the next three years.

Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia, said: “This year’s outstanding performance is a testament to Air Arabia Group’s employees’ dedication and to our shareholders’ continued trust. The company’s 2022 profitability is considered the best in Air Arabia Group’s operating history and reflects our robust business model and perceptive growth strategy. We are committed to continuing our excellent achievements and to driving operational efficiency across our business.”

In 2022, Air Arabia added 24 new routes to its global network from its operating seven hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan. The carrier took delivery of 10 new aircraft and ended the year with a fleet of 68 Airbus A320 and A321 aircraft operating to over 190 routes across the Middle East, Africa, Asia, and Europe.

Air Arabia Group also signed an agreement with DAL Group to form “Air Arabia Sudan”, a joint venture company that will be based in Khartoum. The Group also launched operations of its latest joint ventures airlines in Armenia and Pakistan, “Fly Arna” and “Fly Jinnah”.

Sharjah Retail, Ruwad sign agreement to help business owners, entrepreneurs

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Sharjah Retail, Ruwad sign agreement to help business owners, entrepreneurs

The Sharjah Retail Group of the Sharjah Cooperative Society and the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) of the Sharjah Economic Development Department have signed an agreement to work together to better serve entrepreneurs, business owners, and SMEs in the Emirate of Sharjah.

Hamad Ali Abdullah Al Mahmoud, Director of Ruwad, and Abdullah Issa Al Huraimel, General Manager of the Sharjah Retail Group, signed the agreement in the presence of executives from both sides.

Al Mahmoud emphasised the importance of inter-agency collaboration in bolstering the economic and sustainable development of Sharjah and the UAE as a whole, and in enabling Emiratis to launch and grow businesses that diversify local service offerings and bolster national competitiveness.

The Sharjah Retail Group offers a diverse package of incentives, services, and facilities to local SMEs and projects, as well as their commercial centres and retail destinations in the Emirate, Al Huraimel said.

As per the agreement, Ruwad will inform its members and customers about the services provided by the Sharjah Retail Group. These services include the development, operation, leasing, and marketing of retail projects and shopping centres in the Emirate of Sharjah, as well as various advisory services for these projects and centres.

UAE, Japan exploring fresh avenues of economic cooperation

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UAE, Japan exploring fresh avenues of economic cooperation

The United Arab Emirates and Japan yesterday reviewed the prospects of enhancing economic, trade and investment cooperation, and explored new economic opportunities of common interest.

This came at the Abu Dhabi Business Forum, which was organised by the Abu Dhabi Department of Economic Development following the conclusion of the 9th session of the Abu Dhabi-Japan Business Council yesterday in the presence of top executives from the UAE and Japanese public and private sectors.

Addressing the meeting, Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development, said Abu Dhabi is bent on actively supporting start-ups and entrepreneurs, and scaling them up with the aim of increasing the percentage of non-oil GDP.

He urged Japanese companies to utilise the myriad opportunities up for grabs in Abu Dhabi and benefit from the UAE’s position as a gateway to the Middle East, Africa, and South Asia.

“Japan, being one of Abu Dhabi’s pre-eminent trade and investment partners, gives us a lot to talk about, as the prospects for continued mutual growth, development and progression are endless and exciting!.Our nations continue to focus on identifying and creating new bridges with one another/ across various verticals, to achieve common interests, and the progression and well-being of our people side by side,” he added.

As a catalyst of Abu Dhabi’s economy growth, he continued, “Abu Dhabi Department of Economic Development works closely with a few other prominent entities/ making up the Abu Dhabi ecosystem. The Capital city of the United Arab Emirates and its related regions have been focusing on facilitating, encouraging and providing smart assistance/ and funding to strategic businesses, and to actively support start-ups and entrepreneurs, and to scale them up with the aim of increasing the percentage of non-oil GDP.”

The Abu Dhabi Investment Office (ADIO) has been deploying the Innovation Programme, providing incentives and helping companies relocate here with ease, Al Zaabi added.
“While the Industrial Development Bureau at the DED, which is the industrial sector’s regulator and facilitator, works closely with manufacturers helping them develop further and boost their production levels, it provides a set of financial and non-financial incentives programmes and initiatives.”
“Of the total number of companies in Japan, 90% are small and medium-sized enterprises, that are very active and are always seeking to expand their geographic footprints. I tell these innovative companies consider Abu Dhabi as your gateway to the Middle East!” he noted.

The Abu Dhabi Investment Office (ADIO) has been deploying the Innovation Programme, providing incentives and helping companies relocate here with ease, Al Zaabi added.
“While the Industrial Development Bureau (IDB) at the DED, which is the industrial sector’s regulator and facilitator, works closely with manufacturers helping them develop further and boost their production levels, it provides a set of financial and non-financial incentives programmes and initiatives.
“Furthermore, and through the crucial economic pillar that is the Abu Dhabi Industrial Strategy and its range of incentive programmes and support initiatives, we push for the adoption of Industry 4.0 programmes and advanced technologies, triggering innovation, growth, and competitiveness, and reducing waste and emissions across the manufacturing sector,” he noted.

“For long standing and successful companies seeking new or dual listings on the Abu Dhabi Securities Exchange, the Abu Dhabi IPO Fund, which is a AED5 billion fund, empowers companies to become IPO ready, as they seek to grow and scale operations in Abu Dhabi.”

Al Zaabi emphasised on the opportunities that are available for all businesses in the UAE capital, specially those in which Abu Dhabi has a competitive advantage and can help drive innovation for global impact. These include:
-International trade.
-Capital intensive industries, such as pharmaceuticals and life sciences.
-Technology.
-Logistics and industry.
-Tourism.
-AgriTech.
-Health services & Biopharma.
-Finance, Investment and Asset management.

“ADDED is cultivating an open Advanced Trade and Logistics Platform which will support a new era of trade by digitally facilitating the following:
-Trade of sea, land, air, industrial and free zones to enable transparency, predictability, and efficiency.

-Now, on the social part of our overall economic model, our sub-entity the ‘Abu Dhabi Residents Office’ was created in recognition of the significant contribution of the expatriate resident community to the emirate’s economy and to harness, safeguard and grow these talents residing there.”

He added that the ADDED takes pride in how “we’ve managed to open the markets for investors and traders, facilitating an “ease of doing business doctrine”. This way we help in harnessing of talent, and the development of products and specialised services, allowing for seamless cross-border network outreach, and execution with least hindrance to investor’s business agendas and bottom lines.
“We will ensure the free and open economic, business and trade model, re-enforcing the confidence in our economy and its unique attributes.”

For his part, Nobuyori Kodaira, President, Japan Cooperation Centre for the Middle East, said that the meeting comes at a time when Japan and the UAE are beginning a new half-century of economic cooperation in different fields, especially in terms of climate change cooperation.
He added that energy transition and economic diversification present new chances for increased cooperation between the two sides.

UAE Ambassador to Japan Shehab Ahmed Al Fahim, and Abdullah Al Mazrouei, Chairman of the Abu Dhabi Chamber of Commerce and Industry, along with top executives from both sides also attended the Abu Dhabi Business Forum.

Dubai committed to fostering ecosystem for innovation, ideas, entrepreneurship to thrive: Hamdan bin Mohammed

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Dubai committed to fostering ecosystem for innovation, ideas, entrepreneurship to thrive: Hamdan bin Mohammed

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said today that Dubai is committed to fostering an ecosystem for innovation, ideas and entrepreneurship to thrive. Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate continues to consolidate its position as a leading global hub for talent and enterprise. With a focus on promoting development that can help create a brighter future, Dubai is dedicated to providing an environment where creativity and ingenuity can thrive, he added.

His Highness welcomed Amazon’s announcement that it will showcase the products of 100,000 small and medium enterprises (SMEs) on its UAE store Amazon.ae by 2026.

The move supports the goals of the Dubai Economic Agenda D33 and the objective of the Higher Committee of Future Technology Development and Digital Economy to transform Dubai into one of the world’s top ten digital economies.

His Highness said Dubai has emerged as a prominent hub for digital talent and enterprise and empowered digital economy innovators and entrepreneurs to build a new future for the nation’s technology sector. These developments support the UAE’s digital economy strategy, which seeks to leverage technology to enhance social well-being.

H.H. Sheikh Hamdan bin Mohammed further said initiatives launched in partnership with global technology companies and digital industry leaders combined with the development of SMEs, will enhance the sector’s contribution to the UAE’s GDP by 20 percent over the next decade. This will enhance the UAE’s status as a destination for digital entrepreneurs and a global centre for digital app development.

Amazon, which currently displays the products of 50,000 local and international companies in its UAE store, aims to increase this number to 100,000 by 2026.

The initiative provides an opportunity for local entrepreneurs to reach a wide range of global markets as every new business registered on Amazon.ae is automatically registered in all Amazon stores around the world. UAE companies will have the potential to reach 300 million customers in 19 markets around the world including the US, UK, India, Japan and Singapore.

The initiative, which will facilitate the growth of entrepreneurship and expand the e-commerce sector, will also provide educational resources to companies that will help them sell their products on Amazon. Companies can use the Fulfilment by Amazon (FBA) service to outsource order fulfilment to Amazon. Amazon aims to provide UAE companies with training and qualification opportunities to enable them to enhance their operations and launch applications on digital platforms.

Amazon is a vital partner in the UAE and Dubai’s plan to grow the digital economy and create opportunities for entrepreneurs to leverage cutting-edge e-commerce technologies to expand their business. Dubai’s commitment to fostering a thriving digital ecosystem coupled with partnerships with global companies like Amazon is poised to take the UAE and Dubai’s digital economy to new heights.

UAE participates in World Summit on Information Society Forum

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UAE participates in World Summit on Information Society Forum

 The United Arab Emirates is participating in the annual World Summit on the Information Society (WSIS ) Forum, which kicked off today here.

The summit is a global multi stakeholder platform facilitating the implementation of the WSIS Action Lines for advancing sustainable development.

Delivering the UAE’s address before the Summit, Majed Sultan Al Mesmar, Director-General of the Telecommunications and Digital Government Regulatory Authority (TDRA), reviewed the UAE’s efforts supporting the goals of sustainable development.

“As the world is changing rapidly, we must keep pace by anticipating the impact of new emerging technologies on our lives, and how to use them to maximise gains and reduce negative effects, in a manner that encourages the creation of pertinent statutory and regulatory rules and regulations,” he said.

The forum provides an opportunity for information exchange, knowledge creation and sharing of best practices, while identifying emerging trends and fostering partnerships, taking into account the evolving Information and Knowledge Societies.

The event features virtual workshops which will continue in April & May. The theme of the WSIS Forum 2023 is WSIS Action Lines for building back better and accelerating the achievement of the SDGs.

“Gold consolidates as global markets absorb the SVB, Signature implications, focus on US PPI”

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“Gold consolidates as global markets absorb the SVB, Signature implications, focus on US PPI”
ARY-MILLIGOLD-DAILY-15.03.23Download

Mashreq Bank provides $15.5 billion of sustainable finance and adaptation-related investments

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Mashreq Bank provides $15.5 billion of sustainable finance and adaptation-related investments

Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said that since January 2021, Mashreq has facilitated $15.5 billion of sustainable finance and adaptation-related investments.

In a statement to Emirates News Agency (WAM), Dusen said that ESG is related to cash flow in five important ways. It minimises regulatory and legal intervention, increases employee productivity, optimises investment and capital expenditures, facilitates top-line growth by attracting customers through sustainable products and services, and reduces costs by, for example, lowering energy consumption.

He added that businesses and governments globally are increasingly recognising that Environmental, Social, and Governance (ESG) risks and opportunities are fundamental to guarantee the long-term success of companies alongside the attraction of talent, the operating model, and their investors’ interests.

As such, ESG principles have become a core element to every company’s operations and supply chain, moving from a “nice to have” to a crucial element of business strategy, Dusen stated.

He noted, “The levels of scrutiny on environmental credentials that businesses face will only continue to increase. Demonstrating genuine and tangible ESG policies as well as a solid strategy to offer more sustainable products and services has therefore become paramount.”

Dusen highlighted that businesses that neglect or do not put the right strategies in place to improve their environmental impact – including Scope 3 emissions and the environmental footprint across their supply chain – risk damaging their reputation, facing greenwashing claims and losing market share.

“A business’s ESG performance can also impact stock prices, business valuations, and investor appetite, in turn affecting a company’s potential growth and funding opportunities,” he stated.

Dusen added that an increasing number of jurisdictions, including the UAE, are passing regulations requiring businesses to adopt and report on ESG metrics, with some markets – such as the European Union – also introducing tariffs for non-compliant companies and products.

Similarly, the digital transformation and the digitisation of processes are enabling better reporting, efficiency gains, and data capture and analysis. Latest generation of digital technologies such as the Cloud, Artificial Intelligence (AI) and Machine Learning (ML), which are already part of the business digitisation toolkit, can make enormous inroads in optimising energy consumption and supply chain efficiencies.

ESG is related to cash flow in five important ways. It minimises regulatory and legal intervention, increases employee productivity, optimises investment and capital expenditures, facilitates top-line growth by attracting customers through sustainable products and services, and reduces costs by lowering energy consumption.

The financial sector has an important commitment to make in supporting ESG adoption across the supply chain by developing financial solutions that help businesses achieve their ESG objectives. Green bonds are an excellent example of this, but it can also be extended to ESG-linked supply chain finance programmes that reward suppliers who meet specified targets with a lower cost of working capital.

UAE supports global efforts to promote economic integration to meet current challenges: Economy Minister

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UAE supports global efforts to promote economic integration to meet current challenges: Economy Minister

Abdullah bin Touq Al Marri, Minister of Economy, participated in the CII Partnership Summit 2023, which is being held in New Delhi, India, from 13th to 15th March under the theme “Partnerships for Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses”.

The Summit aims to facilitate the exchange of visions and ideas that can support sustainable development efforts and promote the use of technology in driving economic growth.

In his speech, Bin Touq said, “The historic ties between the UAE and India add a unique dimension to our economic partnership. Besides, both countries believe in the potential of fair and sustainable trade that is based on clear foundations and rules. India is one of the most vibrant economies worldwide today and has a wealth of resources, expertise and innovative ideas. Similarly, the UAE’s strengths include its global status as a leading trade, investment and business hub and a gateway to the Middle Eastern and African markets.”

The Minister of Economy added that the UAE reinforced its ability to serve as a strategic partner to India by establishing itself as a leading provider of logistics, financial services and technology. The UAE is India’s third-largest global trading partner today, while India is the second-largest.

He continued, “We are proud of the strong presence of Indian companies in the UAE, and strive to provide them with all enablers for growth and expansion in our markets. People-to-people ties add more value to our partnership, as the Indian diaspora in the UAE is the largest expatriate community in the country that continues to make great contributions to the development of our economy.

The UAE government has adopted an array of measures that have enhanced the resilience of our economy in the face of these challenges. These efforts have led to the establishment of an environment that fosters business growth and attracts investments, the minister elaborated.

These include the granting of 100 percent foreign ownership; issuance of a legislation to protect intellectual property; and the launch of an ambitious strategy to attract talent and skills in all sectors to enhance the UAE’s position as a permanent hub for creativity and innovation.

In addition, the UAE has also launched a set of pioneering initiatives such as the global Investopia platform to create opportunities and enable future investments. Also, the comprehensive economic partnership agreements (CEPA) under which the UAE has signed four agreements so far – with India, Israel, Indonesia and Turkey.

“Negotiations with more strategic markets are currently progressing,” the minister added.

He pointed out that the adoption of such forward-looking policies has enabled the UAE’s real GDP to grow by 7.6 percent in 2022. Besides, FDI inflows to the country amounted to US$171.6 billion, The country’s non-oil foreign trade also witnessed unprecedented growth as it crossed the AED2 trillion and AED233 billion mark for the first time in its history with a 17 percent year-over-year growth. This confirms the efficiency of the initiatives and strategies of the UAE government.

The Minister of Economy underlined the importance of the comprehensive economic partnership between the UAE and India, and its role in boosting trade flows between the two markets. The trade deal has cancelled or reduced customs duties by 90 percent on goods and commodities traded between both countries.

He explained that they cover nearly 95 percent of the value of commodities that each country imports from the other, which will accelerate the growth of non-oil trade to amount to US$100 billion per annum over the next five years.

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