2019-09-23 13:55:00
DUBAI: THE 8TH POSITION OF GFCI
WAM - 19th September, 2019 -- Dubai has risen the ranks of the Global Financial Centres Index, GFCI, to the eighth position, representing its highest ever-ranking.
The city is the only financial centre within the Middle East, Africa and South Asia, MEASA, to appear within the top 10 rankings, placing it alongside other pivotal financial hubs such as London, New York, Hong Kong and Singapore.
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, said, "The DIFC is one of the key initiatives at the forefront of Dubai's new phase of growth and its efforts to create a business and investment environment that rivals the world's best. In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai will further increase its commitment to supporting the financial industry and making the city a leading player in shaping the future of the global financial landscape. Our sights are set firmly on the goal of becoming the No. 1 ranked global financial centre."
Essa Kazim, Governor of the DIFC, said, "The recognition of Dubai as a top 10 global financial centre is a testament to the commitment we have made to our community, our valued stakeholders and global partners. The DIFC's continued pursuit of excellence and our focus on innovation is delivering on our blueprint for sustainable growth as we continue our journey towards transforming the future of finance. This ranking further underscores the economic potential of the region and the strong promise of Dubai as the destination of choice for international organisations, emerging companies and the financial technology leaders of the future to collaborate to deliver exponential growth."
Established in 2007, the GFCI is released twice a year by London-based Z/Yen and China Development Institute and provides evaluations of competitiveness and rankings for the major global financial centres. More than 114 centres were evaluated as part of the 26th GFCI ranking, using more than 133 instrumental factors.
The new ranking recognises DIFC's strengths within all five major areas of the Index, including Business Environment, Human Capital, Infrastructure, Financial Sector Development and Reputation, reflecting its emergence as a broad, deep, dynamic and stable financial centre.
DIFC unveiled its new Employment Law in June 2019 to address key issues such as paternity leave, sick pay and end-of-service settlements to support the workforce based in the Centre, whilst protecting and balancing the needs and interests of both employers and employees. In line with global retirement savings trends, the DIFC also launched the Employee Workplace Savings scheme.
The centre experienced sustained growth in the first half of 2019, welcoming more than 250 new companies, and bringing the total number of active registered firms to 2,289, demonstrating a 14 percent increase year-on-year. The DIFC now boasts of more than 671 financial related firms, an 11 percent increase from the same period last year.
In January 2019, the DIFC reaffirmed Dubai's mission to become a major economic force in the Middle East by unveiling the latest phase of an ambitious expansion project that will see the centre triple in size.
The centre has also witnessed a significant increase in the number of FinTechs applying to participate in the DIFC's dedicated accelerator programmes, which is the first step towards testing the regional market for many global start-ups.
Full PDF version of The Global Financial Centres Index 26 september 2019
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Earlier:
2019, September, 20, 15:15:00
DUBAI SOLAR ENERGY
The Mohammed bin Rashid Al Maktoum Solar Park is the world’s largest single-site project to generate renewable energy. It will have a capacity of 5,000 megawatts (MW) by 2030 with investments of AED 50 billion. It is based on the independent power producer (IPP) model. This model contributed to world record prices for solar energy projects. According to a study published by Japan's Nikkei Asian Review, the UAE's interest in renewable energy production has contributed to its global cost reduction. Through its projects, the solar park will accelerate the shift towards adopting and using solar energy.
2019, September, 19, 14:20:00
UAE, U.S. COALITION
The alliance protects the interests of its members and their merchant ships when passing through maritime corridors. Its operation area covers the Strait of Hormuz, Bab Al Mandab, the Sea of Oman and the Arabian Gulf.
2019, September, 19, 13:45:00
UAE, FRANCE NUCLEAR COOPERATION
The E-Fusion Initiative aims at bringing together the French nuclear supply chain and Emirati companies around projects for the UAE Peaceful Nuclear Energy Programe. The initiative is co-headed by the Emirates Nuclear Energy Corporation (ENEC) and the French Nuclear Industry Association (GIFEN).
2019, September, 17, 12:45:00
UAE, INDONESIA COOPERATION: $10 BLN
Al Mazrouei cited the recent visit by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Indonesia, during which a number of business and investment cooperation agreements in areas of energy and infrastructure worth $10 billion were signed .
2019, September, 17, 12:35:00
ABU DHABI'S SOLAR PLANT 2GW
Emirates Water and Electricity Company (Ewec) has revealed that construction work on the 2,000MW solar plant in Al Dhafra region is under way, with the photovoltaic (PV) power project expected to be operational in the first quarter of 2022 taking Abu Dhabi’s solar capacity to 3,200MW.
2019, September, 16, 15:05:00
ЭНЕРГЕТИЧЕСКОЕ СОТРУДНИЧЕСТВО РОССИИ, ОАЭ
“Развитие сотрудничества России и ОАЭ по линии энергетики обладает колоссальным потенциалом. В числе перспективных направлений взаимодействия между компаниями из России и ОАЭ мы видим организацию торговых операций по сжиженному природному газу, а также совместные проекты в области добычи и трейдинга”, - сказал Александр Новак.
2019, September, 6, 13:45:00
SHARJAH, RUSSIA COOPERATION
The Emirate of Sharjah is one of the important destinations the Russian Business Council is seeking to penetrate its markets, thanks to the diverse investment opportunity and the encouraging economic and commercial climate.''
