Latest news with #HamdanbinMohammedAlMaktoum
Hindustan Times
23-05-2025
- Business
- Hindustan Times
India-UAE ties: Infrastructure through strategic economic corridors
Few relationships in global diplomacy mirror the camaraderie and history that the India–UAE partnership has shown. Over 5,000 years, the monsoon winds stitched together our destinies. Indian traders once set sail from Gujarat's ancient ports with timber and spices, returning with Basra pearl dates. Imagine Indian rupee serving as currency of the Emirates well until the end of the 1960s—a rare alignment of monetary trust that speaks volumes of the intertwined futures we imagined even back then. Today, this transactional relationship has now matured into a multifaceted partnership with enthusiastic participation of governments from both sides and a number of stakeholders from various sectors. We are building capital corridors and co-developing infrastructure. When Prime Minister (PM) Narendra Modi visited the UAE for the first time in 2015, few could have predicted the extent to which their partnership would evolve. That visit became a pivot point, elevating ties to a Comprehensive Strategic Partnership and setting the stage for deeper trust and mutual admiration. In May 2022, the Comprehensive Economic Partnership Agreement (CEPA) was negotiated and signed within just 88 days—the fastest trade agreement to date—demonstrating the clarity and urgency shared by both nations. Fast forward to April 2025, Sheikh Hamdan bin Mohammed Al Maktoum's maiden visit to India is a powerful testament to his visionary leadership for the ties shared by both nations. His leadership is marked by a forward-thinking vision, driving the UAE's transformation into a global hub for innovation and technology. This marks more than the passing of a diplomatic baton; it signals the convergence of two nations. CEPA has redefined the contours of bilateral engagement. Nearly 90% of India's exports to the UAE face zero tariffs, giving Indian businesses a competitive edge in the UAE's entrepôt trade. While the trade volumes have doubled, touching $83.7 billion in 2023–24, CEPA's true intent lies in value creation. 5.33 MMT of crude oil from UAE is now stored in underground facilities in Visakhapatnam, Mangalore and Padur (near Udupi) contributing to India's Strategic Petroleum Reserves. CEPA reduces transaction costs, enhances predictability, and encourages sectoral diversification. As a result, capital is flowing into areas like clean tech, semiconductors, and advanced logistics, with over 5% of India's total outward FDI now routed into the UAE. This unlocks strengths for both the countries, for Indian MSMEs and mid-sized firms, CEPA has created room to scale globally. For Emirati partners, it offers proximity to one of the world's fastest-growing consumption bases. The two sides have developed a high degree of trust that sheds the tendency of looking at each other through the prism of relationship with third countries. The continuing rapid growth of air connectivity between the two countries have bound each other more intimately than most immediate neighbours. The role of infrastructure has truly become a lever of growth for both nations, with the signing of eight MoUs, several directly tied to multimodal logistics and smart urban ecosystem co-development. Consider India's push to reduce logistics costs to below 8% of GDP. The India–UAE Virtual Trade Corridor and the DP World–RITES collaboration reflects this synergy of strengths. Real estate has shown astounding growth, emerging as a potent force in this relationship as a marker of mutual confidence. CEPA has effectively de-risked cross-border investment and enhanced market access for Indian service providers across 11 sectors, including construction and engineering services, which streamlines real estate development. India directs 32.8% of its capital to the UAE's real estate. We see rising conviction in emerging hotspots like Ras Al Khaimah, where real estate transactions have risen in volume by 25,000% in seven years. This is a result of an enhanced and streamlined business environment for Indian developers. Similarly, UAE-based sovereign funds and institutional investors are entering our real estate ecosystem with renewed conviction. This article is authored by TP Seetharam, former ambassador of India to the UAE and Vivek Anand Oberoi, managing director & co-founder, BNW Developments.
Khaleej Times
22-04-2025
- Business
- Khaleej Times
Dubai: Du to build Dh2 billion data centre with Microsoft, Sheikh Hamdan says
Sheikh Hamdan bin Mohammed Al Maktoum, Dubai Crown Prince, has said that du has announced a Dh2 billion project with Microsoft. The telecom operator will build a "massive, high-performance data centre", the UAE leader said. Announced at during 'AI week' in Dubai, he said that this new investment will ensure the "UAE remains at the forefront of adopting and supporting the latest technologies, innovations, and digital services". Earlier in January, Dubai-founded Gulf Data Hub said it will invest $5 billion (approximately Dh18.365 billion) towards solidifying the former's market leading position with global private equity firm KKR & Co. Sheikh Hamdan then said, "This landmark investment, the first of its kind in the region, will expand data centre capacity in the UAE and the Middle East."
Khaleej Times
18-04-2025
- Entertainment
- Khaleej Times
UAE: New multi-sensory art attraction opens in Abu Dhabi today
A new multi-sensory art experience has opened today in the Saadiyat Cultural District of Abu Dhabi. Opened near Louvre Abu Dhabi and Guggenheim Abu Dhabi, the neighbourhood also includes the Zayed National Museum and the Natural History Museum Abu Dhabi. Each artwork within the teamLab Phenomena Abu Dhabi venue will evolve over time through the interplay of light, sound and movement. Unlike traditional artworks, they are fluid, existing in a dynamic relationship with their environment, responding to guests' actions and natural environmental changes, creating a living, breathing art experience. Spanning 17,000 square metres, teamLab Phenomena Abu Dhabi has been developed by the internationally acclaimed art collective teamLab, in collaboration with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). The attraction will be open daily from 10am-7pm. Comprising two distinct wet and dry areas, guests will be immersed in a series of mesmerising visuals, vibrant landscapes and interactive installations that dissolve the boundaries between art and audience. Every artwork offers an adaptive experience and ensures that each visitor experience is unique. In the dry artwork area, visitors will encounter a variety of artworks that encourage interaction, where artworks respond to their movements and actions, creating a unique connection between guests and the artwork. As they move into the wet artwork area, guests will follow a dedicated walkway leading them into a realm filled with fluid, hands-on experiences that further deepen connection with the art. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, also witnessed the inauguration ceremony of teamLab Phenomena Abu Dhabi, a transformative multi-sensory art experience and cultural landmark in Saadiyat Cultural District. Sheikh Hamdan bin Mohammed Al Maktoum, the Crown Prince of Dubai, took to Instagram to share his appreciation for the new attraction. Sharing a picture of the location from a helicopter, he said, "Excited to visit". Toshiyuki Inoko, Founder of teamLab, said: 'The artworks in teamLab Phenomena do not exist independently but are created by the environment. Even if people immerse themselves physically into the artwork, the artwork will remain intact, capable of naturally restoring itself even if disrupted. However, when the environment is not sustained, the artwork will disappear. The boundaries of the artwork are ambiguous and continuous with the environment.
Khaleej Times
11-04-2025
- Entertainment
- Khaleej Times
Look: Sheikh Hamdan reveals first photograph of 2-week-old newborn daughter
Dubai's Crown Prince regularly takes to Instagram to share personal moments he shares with family. On Friday evening, Sheikh Hamdan bin Mohammed Al Maktoum, a beloved public figure, took to Instagram to post the much-awaited first photograph of his newborn child. His daughter, Hind, was born on March 22 this year. Then, too, he had posted the announcement of the birth of his fourth child on Instagram. In the adorable new photograph, Sheikh Hamdan gazes lovingly at his newborn daughter, holding her in his embrace. Both father and daughter are dressed in white, with the baby wearing a white beanie, wrapped in soft cloth. A stunning brooch can be seen securing the newborn under the wrap. Take a look at the heartwarming photograph below: This picture was captioned with 'Hind', his daughter's name, written in English and Arabic, alongside pink hearts. In less than an hour since he made the post, it had thousands of comments with well-wishers praying for his daughter's health and safety. With nearly 17 million followers on the platform, the Dubai Royal doesn't just share personal moments but also puts up experiences he has across the world.
