Startup Dubai

Minister Ahmad Al-Rajhi announced that the Global Corporate Social Responsibility Forum in Riyadh aims to serve as an international platform for discussing social responsibility, promoting knowledge sharing, and encouraging private sector participation in sustainable development to create effective public-private partnerships. He highlighted the evolution of social responsibility, focusing on innovative practices, sustainable digitalization, technology, and circular economy integration. Al-Rajhi described the Kingdom’s progress in social responsibility as an “inspiring story of transformation,” aligning with Saudi Vision 2030's goal to enhance corporate engagement. Corporate contributions to social spending have surged from 1.19% in 2019 to 4.15% in 2023. Saudi Arabia's global ranking in social responsibility improved from 41st to 16th in the IMD World Competitiveness Yearbook. #CSR #SustainableDevelopment #SaudiVision2030 #PublicPrivatePartnerships #Innovation

The ultra-luxury project Amali Island, often referred to as the "Maldives in Dubai," is nearly sold out, having attracted wealthy buyers including international footballers and millionaires from the UK, India, Pakistan, and other countries. Located on The World Island, 22 out of 24 high-end villas have already been purchased, indicating strong demand for luxury properties. A significant deal recently saw the sale of the most expensive villa for Dh200 million, along with two neighboring villas priced at Dh100 million each, totaling Dh400 million. The project features 12 villas priced around Dh50 million, nine at approximately Dh75 million, and two at Dh100 million. Currently, only one villa priced at Dh75 million and one at Dh50 million remain available for purchase. Amira Sajwani, COO and co-founder of Amali Properties, shared insights into the project's vision, highlighting their goal to create a unique destination in Dubai that the city has not seen before. #AmaliIsland #DubaiRealEstate #LuxuryLiving #HighNetWorth #PropertyInvestment

Talal Al-Qahtani, a 17-year-old visionary, established Saudi Extracurriculars for Students (SEFS), a nonprofit aimed at empowering high schoolers to become “changemakers.” Recognizing a gap in opportunities, he launched SEFS to connect Saudi youth with various extracurricular activities, including community service, internships, music, art, and culture. Born in Virginia in 2007 to a Saudi father and American mother, Al-Qahtani moved to Riyadh at age two and attended Manarat Al-Riyadh International School from kindergarten through 12th grade. As he approached the end of high school, he was determined to create SEFS to help fellow students find meaningful projects. #YouthEmpowerment #SaudiExtracurriculars #Changemakers #CommunityService #Innovation

In Singapore, car vending machines are revolutionizing automotive sales, as demonstrated by Autobahn Motors’ impressive 15-story facility showcasing 60 luxury vehicles. This futuristic setup enables customers to browse high-end brands such as Ferrari, Lamborghini, and Bentley using an interactive touchscreen, allowing them to select their desired model with ease. The vehicles are swiftly retrieved by an automated system, eliminating the traditional negotiation hassles and creating a smoother, more enjoyable purchasing experience. These innovative car vending machines not only enhance customer satisfaction but also signal the future of car buying, contributing to significant market growth. #BusinessBulls #Innovation #Singapore #LuxuryCars

Commercial Bank International PJSC (CBI), a leading UAE bank, announced a net operating income of Dh278.5 million for Q3 2024, marking a 90% increase compared to Q3 2023 and a 115% rise from Q2 2024. For the nine months ending September 30, 2024, CBI reported a robust 27% year-on-year growth in net operating income, totaling Dh529 million. The bank's profit before tax for Q3 2024 soared to Dh164.1 million, up 166% year-on-year and 232% quarter-on-quarter. For the nine-month period, profit before tax reached a record Dh254 million, reflecting an 81% growth year-on-year. CBI's balance sheet remains strong, with total assets increasing by 12% year-on-year to Dh21 billion. This growth was driven by an 8% rise in loans and advances, reaching Dh13 billion. The bank's loan-to-deposit ratio improved to 85%, up from 98% last year, indicating enhanced liquidity. Additionally, the capital adequacy ratio strengthened to 15.8% as of September 30, 2024, from 14.7% the previous year. #CommercialBankInternational #FinancialResults #UAEBanking #Q32024 #NetIncome #ProfitGrowth #BankingSector

The UAE has been ranked as the world’s most economically stable nation among 89 countries, excelling in entrepreneurship and openness to business. Factors contributing to its success include low manufacturing costs, a favorable tax environment, minimal bureaucracy, transparency, and lack of corruption. It scored a perfect 100 for its tax environment and high marks for infrastructure and digital connectivity. The UAE aims to become a leading global hub for the new economy in the next decade, focusing on knowledge and innovation. GDP growth is projected to exceed 5% by 2025, reflecting strong performance in non-oil sectors. #UAE #Economy #Stability #Entrepreneurship #GDP #Investment

The countdown to Ramadan has officially started, with only four months left until the holy month of fasting. The Emirates Astronomy Society announced that the crescent moon, which marks the beginning of Jumada Al Awwal, will be visible on November 3, 2024. This crescent is essential for predicting Ramadan's start date. According to Ibrahim Al Jarwan, chairman of the Emirates Astronomy Society, Ramadan is expected to begin on March 1, 2025. #Ramadan2025 #CrescentMoon #EmiratesAstronomy #IslamicCalendar #Dubai #HolyMonth

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, is set to embark on an official visit to Singapore on Tuesday at the invitation of the Prime Minister. During his trip, he will meet with Lawrence Wong, Singapore’s Prime Minister, and senior officials and CEOs from prominent Singaporean companies in advanced technology, artificial intelligence, and urban planning. The talks will aim to enhance cooperation in key sectors of mutual interest, benefiting both nations and their citizens. #AbuDhabi #Singapore #SheikhKhaled #LawrenceWong #OfficialVisit #InternationalRelations #Technology #AI #UrbanPlanning

The sea is anticipated to be rough due to strong winds, prompting the National Center of Meteorology (NCM) to issue yellow and amber alerts. Conditions will worsen in the Arabian Gulf, where the sea will become very rough, while the Oman Sea will remain moderately calm overall. Additionally, the UAE is expected to experience dusty and partly cloudy skies, particularly in the eastern and northern regions during the day. Winds will be active, especially over the sea, with speeds between 15 to 25 km/h and gusts reaching up to 50 km/h. These winds may carry dust and sand, potentially reducing visibility. #UAEWeather #RoughSeas #StrongWinds #DustyConditions #WeatherAlert

President Sheikh Mohamed welcomed Prime Minister Pham Minh Chinh of Vietnam during his official visit to the UAE. Their discussions focused on enhancing bilateral cooperation to advance shared goals for prosperity and progress. The meeting, held at Qasr Al Watan in Abu Dhabi, included Sheikh Mansour bin Zayed Al Nahyan and aimed to build upon the historical ties between the UAE and Vietnam, particularly in economy, trade, culture, and renewable energy. Sheikh Mohamed highlighted the significant growth in non-oil trade, which reached US$12.12 billion last year. Chinh expressed Vietnam's eagerness to deepen collaboration and explore new economic opportunities. #UAE #Vietnam #BilateralRelations #EconomicCooperation #SheikhMohamed #PhamMinhChinh