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Newsletter 11/2019

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Stay tuned with the Italian Chamber of Commerce in the UAE!

Newsletter 11/2019

Another of your favorite Aperitivo!
Enjoy three beloved Italian classics at one of the busiest spots in town. Our special guest DJ Ivan Minuti will be playing throughout the night.

On June 26th from 7 PM – 10 PM
For 120 DHS only including a handcrafted cocktail.

Reservation is not required

For more info CLICK HERE

A selection of news articles that featured in official publications in UAE and Italy related to the business, economy and culture of the two countries.

Newsletter 11/2019

DUBAI TO HOST FIRST GCC BIOGAS PLANT
The Region’s first biogas project is set to go online in the next years in Dubai at a cost of Dh50 mln, producing 1.3MW of electricity and 1.4MW of thermal energy while reducing 80% outdoor. The prijct will help meet the government’s target of generating 7% renewable enrgy by 2020 and 50% by 2050. Minister of Climate Change and Environment Dr Thani Bin Ahmed Al Zeyoudi, who was present during the announcement, pointed out that the UAE has established a clear legislative and strategic framework to ensure a swift transition to the green economy. “This is one of the prime initiatives taken by a dairy company in the region. We have seen this technology around the world. Now such high-end technology comes to the livestock and dairy sector in the UAE to tackle the main challenge in the climate change. I applaud them for this initiative, as it is going to reduce the carbon emission as well as odour from the farm which is going to reduce even the complaints from the community residing in the close vicinity. At the same time it is gong to raise the percentage of renewable energy after completing the project,” he added.
Source: Khaleej Times

Newsletter 11/2019

NOD FOR PLAN TO EMPOWER UAE WOMEN
The President, H.H. Sheikh Khalifa bin Zayed Al Nahyan, has issued the resolution that maps out a process that would occupy at least half of the seats in the Federal National Council (FNC). In 2018, Sheikh Khalifa directed authorities to double women representation in the FNC from 22.5%. The resolution modifies certain provisions of federal Supreme Council Resolution No. 4 of 2006 concerning the manner of electing the Emirates’ representatives in the FNC and its amendments. The resolution marks a significant milestone on the UAE’s political development journey, making the country the top worldwide when it comes to representation of women in parliament.
Source: Khaleej Times

Newsletter 11/2019

APPETITE FOR EATING OUT GROWING
A welcoming landscape for new ideas, conductive environment for doing business and the anticipation of catering to the influx of visitors for Expo 2020 has led to Dubai witnessing a surge in the number of restaurant and café openings across the emirate. According to a report issued by the Business Registration & Licensing sector in Dubai’s Department of Economic Development, the total number of restaurants and cafes reached 427 during the first four months of 2019. This included 258 restaurants and 169 coffee shops, s growth of 25% compared to the same period in 2018.
Source: Khaleej Times

Newsletter 11/2019

DUBAI IS MOST AFFORDABLE AMONG EXPENSIVE CITIES
Regional financial capital Dubai is the most affordable market for luxury property market among the world’s top 10 cities at the average price declined by 84% from its peak level in the last five years. Real estate analysts forecast that the prime property prices will witness further softening supply and overall softening in real estate market and weaker economic background. Globally, Hong Kong retained its position as the world’s most expensive big city market with average price of $45.760 per square meters followed by London ($32.535), New York ($32.170), Singapore ($27.482), Paris ($21.910), Sydney ($19.179), Shanghai ($17.417), Berlin ($12.577), Miami ($10.768) and Dubai ($6.729).
Source: Khaleej Times

UAE STAYS ON GROWTH PATH
Growth forecast for the UAE and most of Gulf economies has been revised down for 2019 and 2020 to cuts in oil production. According to the World’s Bank latest report, the UAE’s growth was cut by 0.4% and 0.2% to 2.6% for 2019 and 3% for the next year, respectively, from its January 2019. growth should ramp up this year, supported by a large fiscal stimulus forecast on infrastructure investment for Expo 2020 as well as by a swathe of business friendly to attract foreign investment. The World Bank noted that the UAE’s reform on financing liberalization for the small and medium enterprises will help relive constraints in the corporate sector and support investor confidence.
Source: Khaleej Times

Newsletter 11/2019

STRATEGIES TO MAKE UAE’S WORLD BEST IN OFFERING QUALITY OF LIFE
The National Strategy for Wellbeing 2013 aims to make the UAE a world leader in quality of life though a number of strategic objectives and initiatives. It also aims to promote an integrated concept of wellbeing, thus supporting the vision of the UAE Vision 2021 and the UAE Centennial 2071. the strategy is based on a national framework of three main levels – individuals, society and the Country. It includes 14 components and nine strategic objectives, which include enhancing people’s well being by promoting active lifestyles, promoting mental health and adopting positive thinking. The strategy includes 90 supporting initiatives targeting more than 40 priority areas. One of the most important initiatives is the development of the first National Wellbeing Observatory that monitors a number of indicators of wellbeing in the UAE.
Source: Khaleej Times

EXPO 2020: WHAT’S NEW

Newsletter 11/2019

CARABINIERI CORPS AT EXPO 2020
The General Commissioner’s Office for Italy’s participation at Expo 2020 Dubai and the General Commander’s Office for the Carabinieri Corps have signed a memorandum of understanding to attend the upcoming Universal Exhibition, in order to showcase the best skills of the Corps has to offer in terms of safeguarding cultural heritage, managing and providing security for large events, protecting the environment and biodiversity and upholding the law. The agreement was signed at the General Commander’s Office for the Carabinieri Corps by General Commissioner for Italy’s participation at Expo 2020 Dubai Paolo Glisenti and General Commander Gen. C.A. Giovanni Nistri. It anticipates a programme of initiatives and cultural, scientific and legal events in addition to the formulation of training courses inspired by the values of responsible citizenship and inter-cultural dialogue with Mediterranean countries. Therefore, with the help of the Carabinieri Corps, Italy will be showcasing a model for worldwide excellence at Expo 2020 Dubai, to represent the wider Italian Defence System.

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