Latest news with #Dh3.4
Al Etihad
08-05-2025
- Business
- Al Etihad
Banking sector transfers rise to Dh3.4 trillion in Jan-Feb 2025
8 May 2025 18:22 ABU DHABI (WAM)Banking operations statistics released today by the Central Bank of the UAE (CBUAE) showed that the value of transfers executed within the country's banking sector through the UAE Funds Transfer System (UAEFTS) rose by 15.5 percent during the first two months of this year (January and February), reaching Dh3.4 trillion compared to Dh2.962 trillion during the same period last this, the value of transfers executed by banks during the first two months of this year amounted to Dh2.093 trillion, distributed as Dh1.1 trillion in January and Dh983.99 billion in the value of transfers executed by customers and institutions during the same period reached Dh1.327 trillion, broken down as Dh677.65 billion in January and Dh649.48 billion in for cheques in circulation, the February banking operations statistics indicated that the value of cheques processed using Image Cheque Clearing System (ICCS) exceeded Dh234.64 billion for 3.875 million cheques in the first two months of the year, compared to Dh216.218 billion for 3.8 million cheques during the same period in February alone, the value of circulated cheques stood at Dh116.165 billion for 1.828 million to Central Bank data, the value of cash withdrawals from the Central Bank during the first two months of the year reached Dh41.131 billion. The value of cash deposits at the Central Bank totalled Dh31.115 addition, banking indicators showed that the value of bank investments increased by 2.1 percent on a monthly basis, and 3.1 percent since the start of the year. As of the end of February, total bank investments reached Dh758.5 billion, compared to about Dh742.9 billion at the end of January, and Dh735.6 billion at the end of last year.
Al Etihad
23-04-2025
- Business
- Al Etihad
Abu Dhabi ranks 5th globally in 2025 IMD Smart City Index
23 Apr 2025 11:14 ABU DHABI (ALETIHAD)Abu Dhabi has been ranked fifth place in the 2025 IMD Smart City Index, rising five places compared to 2024 and surpassing several major world capitals. The results were attributed to Abu Dhabi's abundant green spaces, free public Wi-Fi, excellent public transportation, and effective traffic of Department of Municipalities and Transport (DMT), His Excellency Mohamed Ali Al Shorafa, said, 'Over the past five years, Abu Dhabi has steadily climbed the world's smart city rankings, moving from 14th place in 2020 to 5th place this year. This is a major achievement for the whole of Abu Dhabi and further cements our position as one of the best places in the world to live, work, and visit."'This international recognition provides further evidence of the success of the whole-of-government approach as our capital continues to expand. Our ambition for 2025, the Year of Community, is to continue to use technology and AI to further empower our people and our businesses.'The IMD survey ranks 146 cities based on residents' perceptions of their city's structures and technology. More than half of those questioned stated that traffic congestion was not a prevalent issue in Abu Dhabi, with a further 82 percent expressing their satisfaction with the public transport network. This is reflected in the more than 90 million rides on public buses recorded last year, along with the more than 168,000 passengers making use of Abu Dhabi's water transportation network. In 2024, DMT invested Dh3.4 billion in crucial mobility and road network projects, including a double-bridge project that reduced average morning peak-hour delays by up to 80 percent on Abu Dhabi's Al Khaleej Al Arabi spaces and public parks were highlighted in contributing to Abu Dhabi's Smart City Index score, with about 84 percent of those surveyed expressing satisfaction at their availability and upkeep, which coincided with the department announcing it has opened more than 200 parks and beaches in 2024 line with its commitment to innovation and community welfare, the department has upgraded seven parks with interconnected sensors as part of a wider smart parks initiative. The facilities have up to 1,400 sensors that measure different variables, such as soil humidity, electricity consumption and air quality to improve visitor experience, sustainability standards and park management further improve public spaces, DMT launched the Abu Dhabi Canvas initiative last year to enhance the aesthetic of public areas while celebrating the country's rich culture and heritage, using UAE-based talent. Abu Dhabi's connectivity and accessibility contributed significantly to its top-five ranking. According to the global index, nearly 75 percent of respondents cited free public Wi-Fi, which the DMT provides on buses, at beaches, and in public parks through Hala Wi-Fi, as a key factor in improving access to public services. The department remains committed to further enhancing Abu Dhabi's smart city status, with the capital being now being home to the World Smart Sustainable Cities Organisation's (WeGO) MENA regional office, positioning the emirate as a hub for collaboration, knowledge-sharing, and capacity-building to empower cities across the region in leveraging cutting-edge technologies for sustainable urban development.
Al Etihad
11-04-2025
- Business
- Al Etihad
Dh70 billion foreign trades on ADX in Q1, net investments surge 151 %
12 Apr 2025 01:36 ABU DHABI (WAM)Abu Dhabi Securities Exchange (ADX) posted a strong performance in the first quarter of 2025 compared to the same period in 2024, driven by significant increases in liquidity and investment activity, particularly from foreign and institutional to ADX data, the value of foreign investor trades (buy and sell) rose by approximately 62.2 per cent to around Dh69.79 billion in Q1 2025, up from Dh43.03 billion in Q1 net investment recorded a substantial growth of 151 per cent, increasing from about Dh3.4 billion to over Dh8.5 billion, reflecting growing confidence of international investors in the UAE contribution of foreign investors to total trading value grew to 42 per cent in Q1 2025, up from 31 per cent in the same period of 2024, marking an 11-percentage-point market capitalisation rose by approximately 3.2 per cent to exceed Dh2.93 trillion at the end of Q1 2025, compared to Dh2.84 trillion at the end of Q1 funds (ETFs) witnessed a notable increase, with market value rising by 109 per cent to approximately Dh1.64 billion, compared to Dh784.4 million, highlighting growing investor interest in this asset terms of liquidity, the total trading value grew by nearly 21 per cent to Dh83.3 billion in Q1 2025, compared to Dh68.95 billion in Q1 2024. The traded volume rose by 39 per cent to over 22.45 billion shares from 16.11 billion shares, while the number of executed trades increased by around 41 per cent to reach 1.35 million, up from 961,800 trades in the same comparison investors also recorded a 22 per cent increase in trading value (buy and sell), reaching over Dh134.9 billion in Q1 2025, compared to around Dh110.6 billion in the same period last year.
Gulf Insider
04-04-2025
- Business
- Gulf Insider
Abu Dhabi Unveils Dh75 Billion Vision, Delivers Dh4 Billion In Landmark Projects In 2024
Abu Dhabi Municipality completed major development projects worth over Dh 4 billion in 2024, contributing to its goal of becoming the Middle East and North Africa's most livable city, according to global indicators. The Department of Municipalities and Transport (DMT) announced these achievements, highlighting a year of significant progress and innovation. The Department of Municipalities and Transport (DMT) highlighted its key achievements for the year, marking significant progress and innovation in Abu Dhabi. The department successfully delivered a variety of strategic projects, with a total value of AED 4 billion, aimed at benefiting all segments of society as part of its comprehensive development plan, supported by a total budget exceeding Dh 75 billion. DMT also reinforced its role as a key driver of growth, stability, and safety in the emirate. This was further emphasized by Abu Dhabi being ranked as the most livable city in the MENA region by the Economist Intelligence Unit's Global Liveability Index and one of the safest cities worldwide according to Numbeo's Crime and Safety Indices. Additionally, Abu Dhabi City was recognized as one of the top ten smartest cities globally by the International Institute for Management Development. Mohamed Ali Al Shorafa, Chairman of DMT, stated, 'The forward-looking Dh 75 billion budget reflects an ambitious vision to enhance infrastructure, improve services, and foster urban development across the emirate. We are confident that these investments are a crucial step in building a solid foundation for the future. These efforts align with our leadership's vision of improving the quality of life for our communities and fulfilling residents' aspirations for smart city living and environmental sustainability.' DMT invested Dh3.4 billion in the completion of key mobility and road network projects, including the expansion of the Helio-Abu Al Abiyad Road in the Al Dhafra Region and a double-bridge project with a total value of Dh 315 million, which reduced average morning peak-hour delays by up to 80 per cent on Abu Dhabi's Al Khaleej Al Arabi Street. Other notable roadworks completed in the last 12 months include a complete overhaul of Al Ain Region's 760-meter landmark Sheikh Khalifa bin Zayed Street, which now features a new 1.5-kilometer cycling track, an event plaza, landscaping with over 780 trees, and shade structures. Abu Dhabi emirate also received 247 kilometers of new cycling paths, bringing the total length of dedicated tracks to more than 1,200 kilometers.
Al Etihad
04-04-2025
- Business
- Al Etihad
Abu Dhabi DMT completes milestone projects worth Dh4 billion in 2024
4 Apr 2025 14:25 ABU DHABI (ALETIHAD)The Department of Municipalities and Transport – Abu Dhabi (DMT) has announced its key accomplishments for 2024, showcasing robust development and innovation in diverse communities across Abu Dhabi. The year marked the successful completion of Dh4 billion worth of key projects, part of a broader set of long-term initiatives with a total budget exceeding Dh75 also re-affirmed its position as a significant contributor and driver of growth, stability, and safety in Abu Dhabi, highlighted by the emirate being named the number one most liveable city in the MENA region by the Economist Intelligence Unit's Global Liveability Index, and one of the safest in the world according to the Crime and Safety Indices by Numebo. Abu Dhabi City was also ranked one of the top ten smartest cities in the world by the International Institute for Management Excellency Mohamed Ali Al Shorafa, Chairman, DMT, said: "The future-focused Dh75 billion-plus budget embodies an ambitious vision to enhance infrastructure, elevate services, and promote urban development across the emirate. We strongly believe that these investments are a vital step towards building a solid, holistic foundation for the future. These initiatives reaffirm our dedication to our leadership's vision of enhancing the quality of life for our communities as well as meeting residents' aspirations for smart city living and environmental sustainability.'DMT invested Dh3.4 billion in the completion of key mobility and road network projects including the expansion of the Helio-Abu Al Abiyad Road in Al Dhafra Region; and a double-bridge project with a total value of Dh315 million that reduced average morning peak-hour delays by up to 80% on Abu Dhabi's Al Khaleej Al Arabi notable roadworks completed in the last 12 months include a complete overhaul of Al Ain Region's 760 metre landmark Sheikh Khalifa bin Zayed Street, which now features a new 1.5 kilometre cycling track, an event plaza, and landscaping with over 780 trees in addition to shade structures. Abu Dhabi emirate also received 247 kilometres of new cycling paths, bringing the total length of dedicated tracks to more than 1,200 prioritised the development of community-centric projects, many of which were delivered through Al Tawajud Al Baladi (Municipal Presence Centres). These centres, which operate over 20 facilities across the emirate, serve as vital hubs for engaging with residents, addressing local needs, and enhancing public services. The developments included the opening of more than 200 parks and beaches across the emirate in addition to the reopening of the landmark Al Bateen Ladies Club, which underscores DMT's focus on creating inclusive and accessible spaces for all. Moreover, the introduction of the Abu Dhabi Canvas initiative further highlighted DMT's efforts to enrich the city's urban landscape through creativity and Abu Dhabi Real Estate Centre (ADREC), a DMT affiliate, reported a year of significant growth, with 28,249 transactions, representing a 24.2% increase over the previous year, bringing the sector's total value to Dh96.2 billion. This included 16,735 sales transactions worth Dh58.5 billion, and 11,514 mortgage transactions totalling Dh37.7 billion, reinforcing Abu Dhabi's appeal as a prime investment supported efforts to advance mobility solution in 2024, with the inaugural Abu Dhabi Mobility Week showcasing the industry's best-in-class innovations while providing an open forum for stakeholders to collaborate in realising their visions through real-life practical use advancement was witnessed through the region's first passenger-carrying drone trials, marking a milestone in urban air mobility. The event featured two test flights: the first showcased a five-seater drone capable of travelling more than 25 kilometres with a payload of up to 350 kilograms, while the second demonstrated a smaller drone designed to carry two passengers, covering up to 35 kilometres in approximately 20 minutes. Abu Dhabi also announced a government-wide partnership with Joby Aviation to establish the emirate's first fully autonomous, electric air taxi in 2024 also saw past investments in public transportation yielding positive results, with over 90 million rides recorded in public buses, and well over 168,000 passengers making use of Abu Dhabi's water transportation network, along with more than 28 million air passengers, highlighting the emirate's enhanced infrastructure and seamless transport displayed a strong commitment to embracing AI applications in its operations and in the daily lives of the community. This was showcased most notably through a centralised, real-time, data-driven platform that allows city planners and decision makers to optimise liveability standards based on the needs of residents across different areas and districts in the capital. The dynamic 3D modelling system, which uses AI Digital Twin capabilities, is growing to be a cornerstone of smart technology application in city management and urban the year, DMT introduced other key initiatives, such as an AI-enabled architectural review platform that accelerates construction and building projects' approvals using generative AI and 3D model analysis. The Integrated Transport Centre (Abu Dhabi Mobility), a DMT affiliate, also incorporated an AI engine into its operations that provides in-depth insights into transportation and commuter behavioural patterns. This is set to be pivotal in decision-making processes for managing large-scale mobility advanced regulatory frameworks with initiatives enhancing compliance, safety, and quality in Abu Dhabi's construction and engineering sector. These included the launch of the Building Occupancy and Legalisation Certification Programme to improve building safety and sustainability across the emirate, and the introduction of the Performance Evaluation and Engineering Excellence System for architectural and engineering firms, along with mandatory certification exams for licensed strengthened its global partnerships in 2024, including the signing of a twin city agreement with Shenzhen following the successful organisation of the Abu Dhabi X Shenzhen Innovation Forum, and a Friendship City agreement with Seoul, marking a new chapter in the bolstering of ties between the two notable international developments throughout the year comprised a collaboration with the Massachusetts Institute of Technology (MIT) to establish the DMT Future Hub as a centre of excellence in urban mobility and sustainable development. Additionally, DMT launched the World Smart Sustainable Cities Organisation's MENA regional office and won the bid to host the 2025 WeGO Executive Committee Meeting, reinforcing Abu Dhabi's leadership in sustainable city advancements. The Department of Municipalities and Transport – Abu Dhabi is set to announce a range of strategic projects in the coming months, designed to strengthen Abu Dhabi's reputation as one of the most liveable cities in the MENA region and to position it among the world's top ten leading smart cities. These initiatives are part of DMT's commitment to Abu Dhabi's long-term sustainable development, while introducing forward-thinking strategies that continue to enhance the emirate's liveability standards.
