DMCC signs deal with aqua-index to support first water-backed digital token
DUBAI - DMCC, the leading international business district that drives the flow of global trade through Dubai, has signed a Memorandum of Understanding with AQUA-INDEX, a global pioneer in water commodities trading.
This landmark collaboration supports AQUA-INDEX's initiative to launch the world's first digital asset token backed directly by freshwater resources, revolutionising how water is traded, valued, and managed globally.
The token – the first of its kind globally – is backed by verified, drinking-quality water stored in global reservoirs and will enable investors, hedgers, traders and the general public to trade, hold and take delivery of fresh water as a commodity. By combining financial innovation with water market expertise, the partnership offers a practical mechanism for unlocking new liquidity and transparency in global water supply chains.
Under the partnership, AQUA-INDEX will benefit from DMCC's extensive global network, world-class services, advanced infrastructure, and leading commodity marketplace, facilitating the effective trading and investment in water assets. AQUA-INDEX will enhance the availability and exchange of knowledge around global water usage and pricing and provide access to essential trading and hedging products for DMCC and its member companies. DMCC will not directly own or manage the token itself.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, 'Nearly half the global population experiences water scarcity for at least part of the year, yet water remains the only critical resource without a mature, regulated market. We are proud to partner with AQUA-INDEX to drive a transparent, neutral, and legally coherent structure and marketplace for water to secure the future of a resource that has long been undervalued.
This is the next clear milestone in the formation of DMCC Water Centre, where we will not only bring the conversation of water to the forefront, but also attract the sector's leading companies to create a global centre in Dubai for water innovation, security, sustainable best practice, knowledge and education, while ensuring that the world's most transported commodity has the ability to reach water distressed areas.'
Yaacov Shirazi, Chairman and Founder of AQUA INDEX, said, 'Pricing water by the value of its usage, standardisation of water by its mineral content and quality, and turning water to a new asset class for a financial trading, is a gamechanger in the world economy. It will establish new levels of water management which prevents scarcity, contamination, and lack of access."
The announcement forms part of DMCC's ongoing efforts to establish the DMCC Water Centre, a dedicated ecosystem for the global water industry that positions Dubai as a central, neutral hub for water trading and innovation. The Water Centre brings together WaterTech innovators, logistics providers and commodity traders under one platform.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
21 minutes ago
- The National
Developer expects $1bn Trump Tower in Dubai to sell out by end of summer
All units at Dubai's Trump International Hotel and Tower are expected to be sold by the end of summer amid high demand from buyers, the developer has said. The $1 billion development was launched in April by Dar Global, the international property arm of Saudi Arabia's Dar Al Arkan, in partnership with the Trump Organisation, the sprawling conglomerate of the family of US President Donald Trump. The project, which is being built near Downtown Dubai on Sheikh Zayed Road, is expected to be completed in five years. The development features more than 500 homes, with two penthouses costing Dh75 million ($20.4 million) each and three to four-bedroom apartments priced between Dh4 million and Dh5 million. It also has a Trump-branded hotel and a clubhouse. 'Sales have been strong, [there has been] very good reception for the brand, for the mix and the location,' Ziad El Chaar, Dar Global's chief executive, told The National in an interview. He did not say how many units have been sold so far. 'We have approximately 40 nationalities who are investing in the project including people from India, Pakistan, the UK, some investors from Arab countries such as Saudi Arabia, Lebanon, Iraq, Kuwait, Oman and from Eastern Europe, Turkey, Romania and Russia," he added. Dubai's residential sector continues to perform strongly, with the emirate recording 17,504 transactions in May, a 15.1 per cent month-on-month increase, while total sales value for the month surged to Dh54.48 billion, up 18 per cent on the previous month, according to Betterhomes. Average price per square foot also climbed 4.5 per cent on a monthly basis to Dh1,808 in May, data shows. Strong economic growth combined with government measures such as residency permits for retired and remote workers, and an expansion of 10-year golden visa programme has helped boost the property market in the emirate. "Prices are going up because there are a lot of clear fundamentals in the market," Mr El Chaar said. "You have economic demand, you have economic attraction. You have a lot of facilitation on golden visas. These days, you have a big increase in traffic at the airport, which means people are not just speculating online, they are here, they are in the market. "At the same time, we have a lot of people who are flying from high tax areas, coming to domicile in the UAE, plus you also have new activities happening that are bringing more people to the country, especially with the gaming [resort] opening in Ras Al Khaimah." Partnership with Trump Organisation to continue Dar Global, with a property portfolio worth $10 billion in the UAE, Oman, Saudi Arabia, the UK and Spain, plans to continue building new projects in partnership with the Trump Organisation, which is managed by Mr Trump's sons, Donald Jr and Eric Trump. 'We have announced seven projects in two years [with the Trump Organisation] and this successful collaboration will continue,' Mr El Chaar said. Dar Global is currently building two new projects in Oman, a hotel and a residential development, as well as a Trump tower in Jeddah, the Trump International Hotel and Tower in Dubai and a new project in Doha that was unveiled last month. The company has also committed to building two new residential projects in Riyadh with the Trump Organisation and is expected to finalise another in the Saudi capital by the end of the year. Abu Dhabi expansion Dar Global is "aggressively pursuing" entering the Abu Dhabi market. "We are in continuous discussions with a lot of parties in Abu Dhabi to find the right project," Mr El Chaar said. "We are very much interested to launch in Abu Dhabi because we believe the market has now enough attractants to bring in the investors from outside, and some within Abu Dhabi, and we would like to put our flag in the market."
Zawya
23 minutes ago
- Zawya
UAE exempts Iranian citizens from overstay fines following presidential directives
ABU DHABI: The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has announced the exemption of Iranian citizens currently in the UAE from all overstay fines. This applies to both residents and visitors, regardless of their visa type. This measure is a direct response to the exceptional circumstances in the region, aiming to alleviate the burden on individuals who have been unable to return to Iran due to airspace closures and flight suspensions. While reaffirming its dedication to humanitarian considerations and its commitment to providing comprehensive support to all residents and visitors in the UAE, ICP calls upon those eligible for this exemption to register via the ICP Smart Services Platform or visit any customer happiness centre in the country.
Zawya
24 minutes ago
- Zawya
Mohammed bin Rashid: UAE is ranked 5th globally by 2025 IMD World Competitiveness Ranking
ABU DHABI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has chaired a Cabinet meeting held at Qasr Al Watan in Abu Dhabi. The meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of the Interior. H.H. Sheikh Mohammed bin Rashid Al Maktoum said, ' I chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi, where we reviewed the UAE's performance in the 2025 IMD World Competitiveness Ranking. The UAE ranked 5th globally, alongside the world's leading countries in economic competitiveness, government efficiency, legislative strength, and business environment excellence. Fourteen years ago, we established a competitiveness center, uniting the efforts of key national entities. These efforts have elevated the UAE's ranking from 28th globally in 2009 to being among the top five globally in competitiveness. In the same report, the UAE ranked 1st globally in the absence of bureaucracy index, 2nd globally in government policies adaptability index, and 4th globally in government efficiency index. This achievement is a testament to years of consistent effort. With the vision of my brother, Mohamed bin Zayed, our future will continue to be even brighter and stronger.' H.H. Sheikh Mohammed bin Rashid Al Maktoum added, 'During the meeting, we approved housing grants for over 1,838 citizens in the first half of the current year, with a total value of AED1.2 billion. This support will continue to ensure decent housing and enhance family stability across the UAE." He confirmed, 'We also approved the results and activities of the Emirates Council for Balanced Development, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan. The Council continues to implement projects and forge national partnerships to develop Emirati villages, economically, socially, and as tourist destinations. Its initiatives have created meaningful opportunities for families, young talent, and small business owners. The Council's mission is to ensure that every part of the UAE, near or far, benefits from the nation's immense developmental momentum." H.H. Sheikh Mohammed bin Rashid said, 'We also reviewed the results of Digital Identity implementation in government transactions, which now has over 11 million registered users and has recorded more than 600 million logins. The unified integrated digital ecosystem for government services is currently connecting over 130 government entities and private sector organisations. It has facilitated 2.6 billion digital transactions efficiently, accurately, and swiftly. Thanks and appreciation go to the team behind this outstanding national ecosystem." H.H. Sheikh Mohammed bin Rashid added, 'The Cabinet approved during the meeting the restructuring of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism under the chairmanship of Sheikh Abdullah bin Zayed Al Nahyan. Over the years, the Committee has made strides in advancing national policies and strengthening measures to combat money laundering and terrorism financing across the country. The Committee will continue its work to ensure the UAE remains a global leader combating money laundering and terrorism financing, an oasis of safety and security, and an ideal business environment for entrepreneurs and investors across all sectors.: H.H. Sheikh Mohammed bin Rashid said, 'We also approved the establishment of the National Maritime Navigation Center, which will operate under the Ministry of Energy and Infrastructure. The new center will manage and operate the Integrated National Maritime System for monitoring maritime traffic, oversee the National Maritime Single Window, and enhance the safety and security of the maritime sector. It will also activate and develop mechanisms to prevent harmful practices, protect the UAE's marine life, and advance the sector through conducting scientific research and studies." H.H. Sheikh Mohammed bin Rashid Al Maktoum concluded, 'We approved the 2024 Annual Report of the Higher Commission for Free Trade Negotiations. Key achievements include the signing and conclusion of 27 Comprehensive Economic Partnership Agreements (CEPA) with strategic global economies, 8 of which have already come into force. We also reviewed ongoing efforts to finalize more agreements with additional countries. The UAE's free trade negotiation team is outstanding and has delivered remarkable results, contributing to record-breaking growth in the UAE's foreign trade in a short period." The UAE Cabinet reviewed the 2025 Global Competitiveness Ranking results, published by the IMD World Competitiveness Center in Lausanne, Switzerland. This year, the UAE is ranked among the top five globally, scoring 96.09 out of 100 points. The country advanced two positions from last year, surpassing countries such as the United States, Sweden, Germany, and Canada, while maintaining its top ranking as the regional leader for the ninth consecutive year. The report evaluates 69 countries based on four key areas: economic performance, government efficiency, business efficiency, and infrastructure. Its findings cover 341 competitiveness indicators across economic, administrative, and social fields. The 2025 edition also introduced five new indicators: food waste, environmental performance, freely elected government, passport mobility, and media bias. This year, the UAE made significant progress in the business efficiency pillar, rising seven spots to rank third globally. It also maintained a strong standing globally in economic performance and government efficiency, ranking second and fourth, respectively. The UAE's exceptional performance in key sectors contributed to its leadership in 113 global indicators across the report's main and sub-pillars. The country ranked first globally in 22 indicators, including employment rate, absence of bureaucracy, availability of global expertise, digital transformation in companies, venture capital, inbound mobility of higher education students, public-private partnerships, energy infrastructure, and female parliamentary representation. The UAE also ranked second globally in social cohesion, flexibility of residency laws, and government policy adaptability, while securing third globally in graduates in sciences, leverage of digital tools and technology, and healthcare infrastructure. The Cabinet reviewed the 2024 report of the Higher Commission for Free Trade Negotiations. The report highlighted the signing and conclusion of negotiations for 27 Comprehensive Economic Partnership Agreements (CEPAs) with various countries, of which eight have already come into effect. These agreements drove the UAE's foreign trade volume to an unprecedented AED5.23 trillion in 2024, according to the World Trade Organisation (WTO). The UAE's non-oil exports reached a historic milestone, exceeding AED440 billion in 2023, marking a 16.3% growth compared to 2022 and a remarkable 83% increase from 2019. Re-exports also reached a record AED684.3 billion, with a 6.3% growth compared to 2022. Additionally, the UAE attracted AED 113 billion in foreign direct investments (FDI) in 2023, reinforcing its position as a global trade hub. The Cabinet reviewed the year 2024 achievements of the Emirates Council for Balanced Development, chaired by H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes' Affairs and Chairman of the Emirates Council for Balanced Development. Highlights included the completion of major projects in Qidfa, such as the waterfront development, Palm Walk, and cycling tracks. Strategic projects were also initiated in Masfout, including Marble Park, a Ladies' Club, Friday Market, and restoration of Al Sharia and Al Falaj areas as cultural landmarks. The first phase of the Al Sila' Waterfront development project exceeded an 87% completion rate, while plans for Al Rams included several initiatives, such as building a community council, developing the marina and corniche, and advancing ecotourism plans. The Council also launched the "UAE Villages Councils' programme, creating ten integrated community councils and distinct digital branding for each village under the initiative 'Jothoor' (Roots) to empower female artisans in the UAE. Several cultural festivals and local market initiatives were organized, attracting over 206,000 visitors, supporting 171 families, and engaging 790 volunteers. The Cabinet reviewed the achievements of the fourth edition of the 'Make it in the Emirates' platform (2025). This initiative attracted over 122,000 visitors and participants, facilitated AED 168 billion in potential procurement agreements to localize the manufacturing of 4,800 products. Agreements worth AED 11 billion were signed for industrial projects, alongside AED 40 billion in financing solutions over five years to support SMEs. A new category, the "UAE Traditional Crafts', was introduced to recognize individuals and organizations excelling in traditional Emirati crafts. The Cabinet reviewed during the meeting a report on the Sheikh Zayed Housing Programme, which highlighted the federal government housing decisions issued during the first half of 2025. The total number of decisions issued during that period reached 1,838, with a total value exceeding AED 1.25 billion. The Cabinet approved the establishment of the National Maritime Navigation Center under the Ministry of Energy and Infrastructure. The Center will manage a unified maritime database, oversee vessel tracking systems, and ensure maritime safety and environmental protection in collaboration with relevant authorities. The Cabinet approved drafting a federal law to saveguard the UAE's cultural heritage. The law will enhance awareness, support intangible heritage, and align national efforts with international best practices. The Cabinet restructured the High Committee for Overseeing the National Strategy on Anti-Money Laundering and Counter Terrorism Financing under the chairmanship of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs. The UAE Council for Climate Action was also restructured to oversee the implementation of the UAE's Net Zero 2050 strategy and promote carbon market systems. The UAE added nine sites to the global list of biodiversity hotspots and launched a roadmap to plant 100 million mangrove trees by 2030. Protected areas were expanded by an 18 percent increase for mainland reserves and 12 percent increase for marine reserves. The Cabinet also reviewed the results of implementing the UAE Unemployment Insurance Scheme for the year 2024. The UAE Cabinet approved the ratification of 13 international agreements and protocols, including partnerships with Montenegro on tourism, real estate, and economic cooperation, Vietnam on a comprehensive economic partnership, Uganda on mutual visa exemptions, and New Zealand on investment promotion. Agreements were also signed with Eswatini, the Central African Republic, Kenya, Peru, Nigeria, and Jordan. The Cabinet also approved the negotiation and signing of 36 international agreements and memoranda of understanding. These included agreements with Hong Kong on legal assistance, Montenegro on energy cooperation, and the Eurasian Economic Union on economic partnerships. New embassies will be established in Togo, Gabon, Cameroon, and Tajikistan, alongside a UAE Consulate General in Miami, USA. The Cabinet endorsed the UAE's participation in 13 international events in countries such as Malaysia and Ethiopia. The UAE will also host key summits, including the Annual Summit of the Central Banks Data Cooperation Group. Additionally, the Cabinet approved the UAE's accession to the International Competition Network, the OECD Forum on Tax Administration, and the Svalbard Treaty, alongside participation in the International Legal Forum in St. Petersburg.
