Dubai Chambers' President and CEO elected as member of Executive Board of International Chamber of Commerce, which represents a network of 45 million companies
Reinforcing Dubai's leadership in advancing global trade and partnerships
H.E. Mohammad Ali Rashed Lootah: 'Dubai is continuing to advance its efforts to strengthen international economic cooperation and enhance cross-border trade flows.'
• The International Chamber of Commerce (ICC) is the world's largest business organisation, representing a network of 45 million companies that employ over one billion people in more than 170 countries.
• The annual value of merchandise trade conducted through ICC member networks exceeds US$ 17.5 trillion.
• The appointment to the ICC Executive Board reflects Dubai's prominent role in driving global cooperation and building constructive partnerships.
• It reflects international confidence in Dubai's unique economic model and cements the emirate's position among the world's leading economic capitals.
• The ICC encompasses the World Chambers Federation (WCF), which brings together more than 1,500 chambers of commerce from over 100 countries.
• Each year, the ICC International Court of Arbitration settles commercial disputes exceeding US$ 200 billion in value.
Dubai, UAE – The International Chamber of Commerce (ICC) has elected H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, as a member of its Executive Board, reinforcing Dubai's leadership in advancing global trade, driving business growth, and fostering international partnerships. The ICC is the world's largest business organisation, representing a network of 45 million companies ranging from small and medium enterprises (SMEs) to multinational corporations (MNCs) that collectively employ over one billion people in more than 170 countries.
Founded in Paris in 1919, the ICC serves as the voice of the global business community. The value of merchandise trade conducted through its membership network exceeds US$ 17.5 trillion annually, with the organisation maintaining a presence in over 100 countries through its various national committees.
The appointment of Dubai Chambers' President and CEO to the ICC Executive Board reflects Dubai's prominent role in driving global cooperation, as well as building constructive partnerships that advance global trade and strengthen collaboration between business communities worldwide. The move further consolidates Dubai's status as a hub for shaping the future of global trade, facilitating business activity, and influencing international economic policy.
The appointment reaffirms the global community's confidence in Dubai's unique economic model, which combines an ambitious vision with flexible legislation, strong public-private sector collaboration, and robust support for business growth. It also reflects the emirate's deep international ties and global position among the world's leading centres for economic decision-making.
The ICC plays a vital role in promoting global trade growth and shaping international economic policy in collaboration with local and global institutions. The organisation is instrumental in establishing the rules governing international commercial transactions and the global economy.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: 'Dubai is continuing to advance its efforts to strengthen international economic cooperation and enhance cross-border trade flows, with a strong focus on developing a dynamic global ecosystem that fosters private sector growth and promotes a more competitive business environment. Dubai Chambers will continue to play an active role in shaping global dialogue on the future of trade, market integration, and business innovation, as well as building partnerships that contribute to sustainable global economic growth.'
The ICC also encompasses the World Chambers Federation (WCF), which serves as an essential platform for dialogue and cooperation among chambers of commerce worldwide on key issues relating to SME development and private sector support. The federation is the largest global network of chambers and brings together more than 1,500 chambers of commerce from over 100 countries. The WCF organises the World Chambers Congress, the only forum dedicated to chamber leaders, providing an opportunity to exchange knowledge, share best practices, and build global networks. The congress attracts more than 15,000 participants.
The WCF works to enhance the capabilities of chambers globally and foster strong relationships with multilateral institutions such as the World Bank, the United Nations Development Programme (UNDP), and regional and international development banks. The federation also manages the international ATA Carnet guarantee chain for the temporary admission of goods and oversees the International Certificate of Origin Council (ICOC), which promotes global accreditation of certificates of origin and the development of international best practices in this area.
In addition, the ICC International Court of Arbitration remains the world's top institution for resolving commercial disputes. Since its establishment by the ICC in 1923, the court has maintained its leadership in the field, with annual case settlements exceeding US$ 200 billion. The ICC also operates the International Centre for ADR (Amicable Dispute Resolution), which provides a range of services to resolve disputes amicably.
As a key driver of Dubai's economic growth, Dubai Chambers remains committed to empowering the local business community, supporting its international expansion, accelerating the emirate's digital economy, protecting the interests of the private sector, and enhancing Dubai's position as a leading global business hub.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
6 hours ago
- Mid East Info
5G-A and AI Fostering the Intelligent Connectivity - Middle East Business News and Information - mid-east.info
At the Mobile Broadband Forum MBBF Top Talk Summit held during MWC Shanghai 2025, 150 guests, including top-tier executives from leading telecommunications firms, AI innovators, and academic pioneers, gathered to explore the huge opportunities emerging from the deep convergence of ICT and AI industries. David Wang opening the MBBF Top Talk Summit in Shanghai Li Peng closing the MBBF Top Talk Summit Shanghai David Wang, Huawei's Executive Director of the Board, opened the event by saying, 'The rapid adoption of mobile AI is bringing new vitality to the mobile industry in three brand-new ways. First, mobile devices are no longer just about apps, as they begin to host AI agents that will improve every aspect of our life and work. Second, AI's deep convergence with IoT is making AI-IoT a new portal to the intelligent world. Third, AI is now powering networks. Previously, we mainly focused on O&M efficiency when it came to network management. But today, AI is allowing us to maximize spectrum, energy, and O&M efficiency at the same time.' He went on to call on the entire industry to pursue shared success in the mobile AI era by unlocking the potential of 5G-Advanced (5G-A). To this end, Huawei and other industry stakeholders are already working together on five areas that can act as levers to drive 5G-A growth, including large uplink bandwidth, rich device ecosystems, multimodal intelligent services, all-scenario IoT capabilities, and diverse business models. Cross-Sector Tech Symbiosis: Redefining Omni-Scenario Innovation: The deepening convergence of 5G-A and AI is profoundly transforming industries. In manufacturing sectors, 5G-A's low latency and high bandwidth are critical enablers for high-precision sensing and decision-making based on embodied AI. Powered by 5G-A networks, embodied AI can collect and process vast amounts of data in real time to complete the 'sensing > decision > execution' cycle, minimizing production risks while maximizing efficiency. In the supply chain industry, 5G-A's wide coverage and AI-assisted route planning can collectively boost efficiency and slash costs. For instance, smart logistics based on 5G-A and AI-empowered-devices stands for more efficient route planning, which translates into greater distribution timeliness and lower OPEX. Technologically, 5G-A must evolve beyond its conventional role as a connectivity pipe to function as an experience platform capable of supporting real-time interaction among billions of active mobile AI agents. 5G-A advancement transcends mere technological improvements, requiring fundamental reinvention of network infrastructure and operational paradigms. From a commercial perspective, premium experiences are driving 5G-A monetization. 5G-A's ability to deliver flawless experiences for low-latency and high-bandwidth applications (like cloud gaming and multi-view immersive sports streaming) is also creating more user-friendly payment patterns. This experience-first approach is establishing business growth opportunities as consumers demonstrate increased willingness to pay for quality-of-service guarantees. Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service, wrapped up the event with closing remarks. '5G-A will deliver much stronger capabilities', said Li. 'It will equip carriers to provide a guaranteed network experience across multiple factors. 5G-A will spur innovative new business models, and help carriers expand beyond traffic to begin monetizing experience itself.' Li went on to explain how carriers are using AI agents to help drive AI adoption while delivering a targeted, guaranteed experience for a wide range of users, including individuals, homes, and industries – as well as people on the go. 'This transformation will help carriers truly elevate their brand, create new value, and better monetize experience. To get there, we need to develop new AI-centric network construction standards to guide the ongoing evolution of infrastructure. This will be crucial for developing wide-area lossless 5G-A networks that support deterministic access, elastic scheduling, and on-demand, reliable connections between the cloud, edge, and devices.' Li Peng closing the MBBF Top Talk Summit Shanghai: MWC Shanghai 2025 took place from June 18 to June 20 in Shanghai, China. During the event, Huawei showcased its latest products and solutions in Hall N1 of the Shanghai New International Expo Center SNIEC. The commercial adoption of 5G-Advanced is accelerating in 2025. Huawei collaborates with global carriers, industry experts, and opinion leaders to explore how innovations in AI can be used to reshape telecom services, infrastructure, and operations to generate new revenue sources and accelerate the transition towards an intelligent world. About Huawei: Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 208,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. Our Vision and mission is to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, we will drive ubiquitous connectivity and promote equal access to networks; bring cloud and artificial intelligence to all four corners of the earth to provide superior computing power where you need it, when you need it; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; redefine user experience with AI, making it more personalized for people in all aspects of their life, whether they're at home, in the office, or on the go.
Mid East Info
12 hours ago
- Mid East Info
Dubai Chambers' President and CEO elected as member of Executive Board of International Chamber of Commerce, which represents a network of 45 million companies
Reinforcing Dubai's leadership in advancing global trade and partnerships H.E. Mohammad Ali Rashed Lootah: 'Dubai is continuing to advance its efforts to strengthen international economic cooperation and enhance cross-border trade flows.' • The International Chamber of Commerce (ICC) is the world's largest business organisation, representing a network of 45 million companies that employ over one billion people in more than 170 countries. • The annual value of merchandise trade conducted through ICC member networks exceeds US$ 17.5 trillion. • The appointment to the ICC Executive Board reflects Dubai's prominent role in driving global cooperation and building constructive partnerships. • It reflects international confidence in Dubai's unique economic model and cements the emirate's position among the world's leading economic capitals. • The ICC encompasses the World Chambers Federation (WCF), which brings together more than 1,500 chambers of commerce from over 100 countries. • Each year, the ICC International Court of Arbitration settles commercial disputes exceeding US$ 200 billion in value. Dubai, UAE – The International Chamber of Commerce (ICC) has elected H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, as a member of its Executive Board, reinforcing Dubai's leadership in advancing global trade, driving business growth, and fostering international partnerships. The ICC is the world's largest business organisation, representing a network of 45 million companies ranging from small and medium enterprises (SMEs) to multinational corporations (MNCs) that collectively employ over one billion people in more than 170 countries. Founded in Paris in 1919, the ICC serves as the voice of the global business community. The value of merchandise trade conducted through its membership network exceeds US$ 17.5 trillion annually, with the organisation maintaining a presence in over 100 countries through its various national committees. The appointment of Dubai Chambers' President and CEO to the ICC Executive Board reflects Dubai's prominent role in driving global cooperation, as well as building constructive partnerships that advance global trade and strengthen collaboration between business communities worldwide. The move further consolidates Dubai's status as a hub for shaping the future of global trade, facilitating business activity, and influencing international economic policy. The appointment reaffirms the global community's confidence in Dubai's unique economic model, which combines an ambitious vision with flexible legislation, strong public-private sector collaboration, and robust support for business growth. It also reflects the emirate's deep international ties and global position among the world's leading centres for economic decision-making. The ICC plays a vital role in promoting global trade growth and shaping international economic policy in collaboration with local and global institutions. The organisation is instrumental in establishing the rules governing international commercial transactions and the global economy. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: 'Dubai is continuing to advance its efforts to strengthen international economic cooperation and enhance cross-border trade flows, with a strong focus on developing a dynamic global ecosystem that fosters private sector growth and promotes a more competitive business environment. Dubai Chambers will continue to play an active role in shaping global dialogue on the future of trade, market integration, and business innovation, as well as building partnerships that contribute to sustainable global economic growth.' The ICC also encompasses the World Chambers Federation (WCF), which serves as an essential platform for dialogue and cooperation among chambers of commerce worldwide on key issues relating to SME development and private sector support. The federation is the largest global network of chambers and brings together more than 1,500 chambers of commerce from over 100 countries. The WCF organises the World Chambers Congress, the only forum dedicated to chamber leaders, providing an opportunity to exchange knowledge, share best practices, and build global networks. The congress attracts more than 15,000 participants. The WCF works to enhance the capabilities of chambers globally and foster strong relationships with multilateral institutions such as the World Bank, the United Nations Development Programme (UNDP), and regional and international development banks. The federation also manages the international ATA Carnet guarantee chain for the temporary admission of goods and oversees the International Certificate of Origin Council (ICOC), which promotes global accreditation of certificates of origin and the development of international best practices in this area. In addition, the ICC International Court of Arbitration remains the world's top institution for resolving commercial disputes. Since its establishment by the ICC in 1923, the court has maintained its leadership in the field, with annual case settlements exceeding US$ 200 billion. The ICC also operates the International Centre for ADR (Amicable Dispute Resolution), which provides a range of services to resolve disputes amicably. As a key driver of Dubai's economic growth, Dubai Chambers remains committed to empowering the local business community, supporting its international expansion, accelerating the emirate's digital economy, protecting the interests of the private sector, and enhancing Dubai's position as a leading global business hub.
Mid East Info
18 hours ago
- Mid East Info
Parkin's IPO Recognised as Best Privatisation in EMEA
Parkin Company PJSC 'Parkin' or 'the Company', the largest provider of paid public parking facilities and services in Dubai, has been awarded Best Privatisation in EMEA, at the 2025 EMEA Finance Achievement Awards in London. The annual awards ceremony recognises standout transactions and institutions shaping capital markets across Europe, the Middle East and Africa. The award celebrates Parkin's successful evolution from a government department into a high-performing and profitable listed infrastructure business. The carve-out process and subsequent public-to-private transition in March 2024 resulted in record oversubscription levels achieved on the Dubai Financial Market, with interest from high-quality local, regional and international investors generating AED 259 billion in total demand (US$71 billion), implying an oversubscription level of 165x. The recognition by EMEA Finance magazine reinforces Parkin's position as the benchmark for successful privatisation in the region, reflecting Dubai's leadership in developing investable and future-ready infrastructure platforms. The Best Privatisation in EMEA award follows last month's Best MENA IPO accolade from Euromoney, further enhancing Parkin's growing reputation for excellence in the transportation industry. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: 'Winning Best Privatisation in EMEA is a proud moment for both Parkin and Dubai. From the outset, our goal was to deliver a privatisation that set a new regional benchmark in transaction structure, investor interest and long-term value creation. The response to our IPO was extraordinary and what we have achieved since listing reflects the strength of our capex-light, cash-generative business model, our post-privatisation strategy and the ambitions of our team. This award is a testament not only to our success but also to Dubai's leadership in shaping innovative, world-class mobility infrastructure, demonstrating its ability to attract global investors through visionary privatisation initiatives.' About Parkin Company PJSC: With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, with a portfolio of approximately 206k paid parking spaces, as at year end 2024. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (c.184k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.19k spaces) and provides barrierless, ticketless on behalf of Majid Al Futtaim across two malls. Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities. By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 132m parking transactions in 2024. Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.
