Dubai Daily Dose

Dubai witnessed an extraordinary display of unity and fitness as H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, led a record-breaking 278,000 runners in the Dubai Run, presented by Mai Dubai. This marks a 23% increase in participants from last year, solidifying the city's reputation as one of the world’s most active urban centers. Sheikh Hamdan emphasized the event's significance, stating, The event, which served as the grand finale to the Dubai Fitness Challenge 2024, showcased the city's commitment to promoting fitness and wellbeing. Runners, of all ages and abilities, took to the iconic 10 km Sheikh Zayed Road and a family-friendly 5 km route through Downtown Dubai. The course passed landmarks like the Burj Khalifa and Dubai Opera, while high-energy entertainment, including live music, street performers, and appearances by popular mascots, kept spirits high throughout the run. International R&B star Jason Derulo made a surprise appearance, further adding to the excitement. The event also featured aerial displays from motorised paramotors and skydivers, as well as a thrilling parade of Dubai Police supercars, setting the stage for the historic run. The Dubai Fitness Challenge participants, who had spent the month leading up to the event embracing health and fitness, celebrated their collective achievement during this unforgettable occasion. With the strong support of partners including Mai Dubai, Dubai Sports Council, and Dubai Festivals and Retail Establishment, Dubai Run continues to inspire a healthier, more connected society and highlights the city’s unwavering pursuit of excellence in health and wellbeing.

The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) and the United Nations Development Programme (UNDP) unveiled the results of the Global Knowledge Index 2024 (GKI 2024) during the Knowledge Summit 2024 held at the Dubai World Trade Center. The GKI serves as a global benchmark for assessing nations’ achievements in education, technology, and innovation. Sweden topped the index with a score of 68.3, followed by Finland and Switzerland. The UAE ranked first in the Arab world and 26th globally, scoring 60.9. Qatar and Saudi Arabia followed at 39th and 41st globally, respectively. The GKI assessed 141 countries, including eight new additions. The UAE excelled globally in ICT (4th) and economic competitiveness. Arab nations outperformed global averages in ICT and pre-university education, with an average score of 64.1 compared to the global 61.9. The GKI underscores both achievements and challenges, urging nations to advance education, research, and innovation. The forthcoming index promises to integrate emerging technologies, ensuring its relevance as a global knowledge benchmark.

Dubai Chamber of Commerce, a core entity under Dubai Chambers, announced remarkable achievements during the first nine months of 2024. These accomplishments reflect the chamber’s pivotal role in enhancing Dubai’s business-friendly environment, supporting economic growth, and advancing the goals of the Dubai Economic Agenda (D33). A total of 51,561 new companies joined the chamber, marking a 4% year-over-year (YoY) increase. Members’ exports and re-exports during this period reached AED 224 billion, a 7% YoY growth, alongside the issuance of 578,268 certificates of origin and 3,259 ATA Carnets for goods worth over AED 2 billion. The chamber supported the business community by reviewing 154 laws and organizing 146 meetings with Business Groups and Councils, facilitating collaborations with government entities. Seven new Business Councils were established for investors from various countries, while mediation cases increased by 27% YoY to 131 cases. Promoting sustainability, the chamber launched an Environmental, Social, and Governance (ESG) label to encourage responsible business practices. Additionally, 27 legal awareness events attended by over 2,100 private sector representatives were organized. The Dubai Centre for Family Businesses furthered its initiatives by hosting governance events and launching educational resources. Its training programs certified numerous participants, focusing on sustainability and continuity in family enterprises. These efforts underscore Dubai Chamber of Commerce’s dedication to driving economic growth, fostering innovation, and championing sustainable business practices in Dubai.

The Ports, Customs, and Free Zone Corporation (PCFC) has unveiled the ‘Dubai Code for Ports,’ the world’s first comprehensive technical guide designed to streamline the development and management of ports, marinas, and maritime activities. This innovative project sets a new global benchmark in the maritime infrastructure sector. The ‘Dubai Code for Ports’ is intended to address the growing demand for sophisticated maritime infrastructure, bolstering Dubai’s central role in the global supply chain. The project covers vital aspects such as soil inspection, dredging, land reclamation, water drainage, and breakwater design, with a focus on maintaining high technical standards in port and marina construction. A strategic workshop at Dubai’s Jumeirah Beach Hotel gathered key maritime partners, with HE Nasser Al Neyadi, CEO of PCFC, emphasizing the project’s importance in accommodating Dubai’s expanding maritime transport needs. With this project, Dubai is poised to further solidify its reputation as a leading hub in global trade, supporting the rapid growth of trade facilitation, marine tourism, and other economic activities.

The UAE's national domain, .ae, has achieved a significant milestone with 347,000 registrations, showcasing strong demand and confidence from businesses, individuals, and companies. Managed by the UAE’s Telecommunications and Digital Government Regulatory Authority (TDRA), the domain is crucial in enhancing the country's digital infrastructure and economy. The .ae domain is regarded as a symbol of trust and credibility. It validates the activities of businesses and individuals, boosts their digital visibility, and facilitates access to both local and international customers. It is a key element in promoting the UAE's digital identity, supporting its ambition to be a global leader in digital innovation. To enhance user experience, TDRA introduced the "Name Ideas" service in 2023, powered by generative artificial intelligence. The tool suggests domain names based on a brief business description, making it easier for registrants to find relevant names. The service, the first of its kind in the region, has attracted over 10,000 visits since its launch. Additionally, the .ae domain continues to attract major companies, bringing the total number of accredited registrars to 26.

The UAE has solidified its position as a top global player in the diamond trade, ranking third worldwide after India and the United States and capturing more than 15% of the total international market share. The country’s diamond trade is projected to exceed $40 billion by the end of 2024, according to the Ministry of Economy. Officials shared these insights during the sixth edition of the Dubai Diamond Conference, organized by the Dubai Multi Commodities Centre (DMCC) as part of Dubai Diamond Week. It was emphasized that diamonds contribute significantly to the UAE’s non-oil trade, accounting for over 5.5%, with a 2023 trade value near $39 billion and around $20 billion already achieved in the first half of 2024. The UAE's active role in fostering international trade agreements has opened up new markets in Asia, Africa, and beyond. As the UAE prepares to chair the Kimberley Process for the second time, As part of the UAE’s broader economic vision, the government aims to boost non-oil trade to AED 4 trillion by 2031 and increase exports to AED 800 billion. The Comprehensive Economic Partnership Agreements (CEPA) program underpins this strategy, strengthening trade ties with key global partners. In the first half of 2024, the UAE’s non-oil trade reached AED 1.4 trillion, marking an 11.2% growth, significantly outpacing the global trade growth rate of 1.5%. This success underscores the UAE’s position as a thriving global hub for trade and investment.

Dubai has secured the top position in the Middle East and Africa in the 'Global City Index 2024' by Brand Finance, achieving this title for the second consecutive year. With a score of 86 out of 100, Dubai not only led the region but also rose to fifth place globally among 100 cities, surpassing notable global hubs like Singapore, Los Angeles, and Sydney. Dubai’s strengths in reputation, economic stability, and investment appeal played a significant role in its global rise. The city achieved first place in Reputation, surpassing Sydney and London, and climbed from 24th to 4th in remote work consideration. Recognized as the second best city of global significance, Dubai’s robust economy, strategic trade location, and high-quality education systems have made it an ideal location for residents, businesses, and investors alike. Dubai also leads in future growth potential, with initiatives like the Dubai Future Foundation boosting its reputation as a center for innovation. The city’s top ranking in corporate tax attractiveness and investment consideration cements Dubai’s status as a prime investment destination. By excelling in key performance areas including work, investment, and tourism, Dubai continues to redefine global benchmarks and embody a future-oriented vision.

Brand Dubai, the creative arm of the Government of Dubai Media Office, has launched the 11th edition of its annual Flag Garden at Jumeirah Beach, Umm Suqeim 2. Organized under the #ZayedAndRashid campaign, this year’s garden pays tribute to the UAE’s Founding Fathers, Sheikh Zayed bin Sultan Al Nahyan and Sheikh Rashid bin Saeed Al Maktoum, with a striking display of 11,600 UAE flags arranged to create aerial portraits of the two leaders. Covering an area of 75 by 104 meters, the Flag Garden is the largest ever organized by Brand Dubai, symbolizing the deep respect and loyalty the people of the UAE hold for their visionary leaders. Shaima Al Suwaidi, Director of Brand Dubai, highlighted that the garden reflects the UAE’s journey over the past 50 years, shaped by the foundational contributions of Sheikh Zayed and Sheikh Rashid. The 2024 edition coincides with UAE Flag Day on November 3 and Eid Al Etihad on December 2, remaining open to citizens, residents, and tourists until January 10, 2025. Visitors are encouraged to share their experiences using the hashtag #UAEFlagGarden, celebrating the unity and pride that this year’s Flag Garden represents.

Dr. Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), highlighted the UAE’s projected economic leadership within the Gulf Cooperation Council (GCC) by 2025, citing robust growth in its non-oil sector. He emphasized that the UAE’s non-oil sector is expected to grow between 4% and 5% next year, and noted the UAE’s role as a strategic hub connecting major economic blocs, which reinforces its position as a center for international events and a destination for global investment. Key factors driving the UAE’s economic outlook include significant investments in technology, renewable energy, and green initiatives, as well as a commitment to climate sustainability. These measures have elevated the UAE’s global standing as a financial and economic hub. On a regional note, Dr. Azour highlighted the economic challenges and varied growth trends across the Middle East, stressing the importance of economic stability. The IMF has provided $13.4 billion to support economies in the Middle East and North Africa this year, and the anticipated growth in the region is expected to improve from 2.1% this year to 4% by 2025, signaling cautious optimism for the region’s future

The Dubai Reef initiative, part of the Dubai Can sustainability program and the largest purpose-built reef development in the world, has achieved a significant milestone with the completion of its first 1,000 reef modules. This milestone marks a vital step in enhancing marine biodiversity and promoting ecological sustainability within Dubai's waters. Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, the project aims to deploy a total of 20,000 specially designed reef modules over a three-year span. The deployment of the first 1,000 modules is scheduled to commence in the last week of November 2024, following the project's pilot phase initiated in April 2024. The reef modules will be strategically placed at varying depths across four clusters, designed to create diverse habitats for various marine species. Ranging in height from 1.6 to 6.5 meters and located at depths of 15 to 25 meters, these modules will support a vibrant ecosystem of reef fish, corals, sea anemones, and other aquatic fauna. Constructed from durable materials at a site powered by biofuels, the modules exemplify sustainable practices. This initiative has the potential to inspire further participation in sustainability efforts. As Dubai Reef continues to progress, it stands as a testament to the emirate’s commitment to marine sustainability and ecological innovation.