Latest news with #KhalifaAlMubarak
Al Etihad
6 days ago
- Business
- Al Etihad
DCT honours 15 recipients of 4th Urban Treasures initiative
29 May 2025 11:29 ABU DHABI (ALETIHAD)The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced the recipients of the fourth edition of Urban Treasures Awards, an annual initiative celebrating long-running businesses that have shaped Abu Dhabi's cultural and commercial ceremony was held at Cultural Foundation Abu Dhabi and Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, presented the award to 15 establishments selected from across the emirate, including Khulood Club, Gulf Pastry, Zahrat Al Khaleej Nablusia Sweets, Orchid Tailoring & Embroidery Shop, Mohammed Farooq Perfumes, Al Jumaira Studio and Stores, Al Yahar Modern Restaurant and Kitchen, Three Star Watches Shop, Shawarma Ala Alragef Cafeteria, Happy Yemen Restaurant, Ahmed Sultan Al Salami Trading and Importing, Al Ain International Medical Polyclinic, Nauras, Baqala Cheese & Pickles Centre, and Al Sidr Natural the conclusion of its fourth edition, the Urban Treasures initiative has now honoured a total of 60 beloved local gems across Abu Dhabi, each recognised for their contributions to the emirate's urban and social Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: 'The Urban Treasures initiative continues to shine a light on the longstanding businesses that have shaped Abu Dhabi's character over the decades. These establishments are enduring community pillars that reflect the spirit, resilience, and heritage of our emirate, and by celebrating them, we honour these human stories and traditions. With each successive edition, we reaffirm our commitment to preserving, protecting, and promoting the cultural identity of the UAE capital, ensuring its lasting resonance within our community and inspiring future generations to cherish and build upon its foundations.'The Urban Treasures Initiative was launched to recognise the city's landmark homegrown businesses, including restaurants, bakeries, tailors, fabric stores, perfumeries, jewellers, pharmacies, photography studios, and similar establishments, which have thrived in Abu Dhabi for 20 years or more. Seeking to further raise the profiles of these treasures and preserve them for future generations, the award aligns with DCT Abu Dhabi's Modern Heritage Initiative, which celebrates and safeguards the emirate's more recent past. Nominations for Urban Treasures 2025 were opened to the public last year, allowing them to be a part of celebrating the efforts of these establishments. These were then shortlisted and evaluated by a committee, which reviewed each establishment based on set criteria. Source: Aletihad - Abu Dhabi
Al Etihad
7 days ago
- Business
- Al Etihad
Fifteen businesses that have shaped Abu Dhabi's cultural and social landscape honoured as ‘Urban Treasures'
28 May 2025 23:38 AMEINAH ALZEYOUDI (ABU DHABI)The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) has announced the recipients of the fourth edition of the Urban Treasures Initiative, an annual celebration of long-running businesses that have shaped Abu Dhabi's cultural and social businesses have contributed to cementing Abu Dhabi's position as one of the leading cities in the world for living and award forms part of the department's ongoing efforts to preserve the emirate's modern heritage and celebrate its rich ceremony was held at the Cultural Foundation, during which 15 establishments from across the emirate were honoured for their longstanding presence and exceptional contributions to the local Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, presented the awards to the winning institutions, which included: Khulood Club, Gulf Pastry, Zahrat Al Khaleej Nablusia Sweets, Orchid Tailoring & Embroidery Shop, Mohammed Farooq Perfumes, Al Jumaira Studio and Stores, Al Yahar Modern Restaurant and Kitchen, Three Star Watches Shop, Shawarma Ala Alragef Cafeteria, Happy Yemen Restaurant, Ahmed Sultan Al Salami Trading and Importing, Al Ain International Medical Polyclinic, Nauras, Baqala Cheese & Pickles Centre, and Al Sidr Natural Khalifa Al Mubarak said: 'The Urban Treasures initiative continues to shine a light on the longstanding businesses that have added to Abu Dhabi's character over the decades. These establishments are enduring community pillars that reflect the spirit of our emirate, and by celebrating them, we honour these human stories and traditions. With each successive edition, we celebrate businesses that are recognised for having a lasting impact within our community and inspire future generations to cherish their legacy.'Speaking at the event, Saood Al Hosani, Undersecretary at the Department of Culture and Tourism – Abu Dhabi, said: 'Our celebration today marks the fourth edition of the Urban Treasures initiative. It aligns with the principles of the Year of the Community in the UAE, fostering social cohesion and solidarity. Through this initiative, we honour places that have brought people together and upheld the values of cooperation, coexistence and shared trade.'He continued: 'Today, we recognise 15 commercial establishments chosen by the local community. So far, we have honoured 60 such institutions - a major milestone in our mission to safeguard the living heritage of Abu Dhabi. These businesses have flourished for more than 20 years and helped shape the cultural identity of the UAE.'Among this year's honourees was Elie Reaidy, representing the historic Nauras Shop, founded in 1969. He said: 'I would like to thank the Department of Culture and Tourism for this wonderful initiative. Our logo features a bird - the migratory bird - which symbolises freedom. The bird carries wheat, representing generosity and prosperity. So, our symbol is love - love that lies between freedom and giving. We hope that Abu Dhabi continues to embody these values.'Mohammed Younis, originally from Jordan and owner of a honey factory in Abu Dhabi, shared his journey: 'I've been working with bees and honey for 40 years. My love for bees and the medicinal value of honey inspired me to establish a specialised institution at a time when none existed in this field. Honey isn't just a food, but also a medicine - and our goal was to share its health benefits with society.'The Urban Treasures Initiative was launched with the aim of recognising the city's landmark homegrown businesses - including restaurants, bakeries, tailors, fabric stores, perfumeries, jewellers, pharmacies, photography studios and similar establishments - which have thrived in Abu Dhabi for 20 years or to further raise the profiles of these 'treasures' and preserve them for future generations, the award aligns with DCT Abu Dhabi's Modern Heritage Initiative, which celebrates and safeguards the emirate's more recent past. Nominations for Urban Treasures 2025 were opened to the public. Candidates were then evaluated by a specialised committee based on a set of criteria, including key elements such as place-making, urban history, community value, and physical authenticity.
Al Etihad
27-05-2025
- Business
- Al Etihad
DCT Abu Dhabi honours 15 establishments, institutions as Urban Treasures
27 May 2025 18:16 ABU DHABI (WAM)The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced the recipients of the fourth edition of the Urban Treasures Initiative, an annual celebration of long-running businesses that have shaped Abu Dhabi's cultural and social businesses have contributed to cementing Abu Dhabi's position as one of the leading cities in the world for living and DCT award comes as part of the department's ongoing efforts to preserve the emirate's modern heritage and celebrate its rich ceremony was held at the Cultural Foundation, during which 15 establishments from across the emirate were honoured for their longstanding presence and exceptional contributions to the local Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, presented the awards to the winning institutions, which included Khulood Club, Gulf Pastry, Zahrat Al Khaleej Nablusia Sweets, Orchid Tailoring & Embroidery Shop, Mohammed Farooq Perfumes, Al Jumaira Studio and Stores, Al Yahar Modern Restaurant and Kitchen, Three Star Watches Shop, Shawarma Ala Alragef Cafeteria, Happy Yemen Restaurant, Ahmed Sultan Al Salami Trading and Importing, Al Ain International Medical Polyclinic, Nauras, Baqala Cheese & Pickles Centre, and Al Sidr Natural the conclusion of its fourth edition, the Urban Treasures initiative has now honoured a total of 60 beloved local gems across Abu Dhabi, each recognised for their contributions to the emirate's urban and social Khalifa Al Mubarak said, "The Urban Treasures initiative continues to shine a light on the longstanding businesses that have added to Abu Dhabi's character over the decades. These establishments are enduring community pillars that reflect the spirit of our emirate, and by celebrating them, we honour these human stories and traditions. With each successive edition we celebrate businesses that are recognised for having a lasting impact within our community and inspire future generations to cherish their legacy."The Urban Treasures Initiative was launched with the aim of recognising the city's landmark homegrown businesses – including restaurants, bakeries, tailors, fabric stores, perfumeries, jewellers, pharmacies, photography studios, and similar establishments – which have thrived in Abu Dhabi for 20 years or to further raise the profiles of these 'treasures' and preserve them for future generations, the award aligns with DCT Abu Dhabi's Modern Heritage Initiative, which celebrates and safeguards the emirate's more recent for Urban Treasures 2025 were opened to the public, reflecting the Department of Culture and Tourism – Abu Dhabi's belief in the importance of involving community members in highlighting the authentic institutions that have been serving the community for nominations were then evaluated by a specialised committee based on a set of criteria, including key elements such as placemaking, urban history, community value, physical authenticity, and other factors that highlight the significance of these establishments within Abu Dhabi.
Al Etihad
08-05-2025
- Business
- Al Etihad
Mubadala Investment Company reports 2024 financial results
8 May 2025 12:42 ABU DHABI (ALETIHAD)Mubadala Investment Company, the Abu Dhabi–based sovereign investor, on Thursday reported strong performance in its 2024 financial results, reinforcing the focus and resilience of its strategy. Assets under management grew 9.1 percent year-on-year to Dh1.2 trillion, with annualised returns of 10.1 percent over five Khalifa Al Mubarak, Managing Director and Group CEO, said, "This year marked two decades of disciplined financial performance as an investor central to the UAE's long-term competitiveness. Our 2024 results and portfolio growth reflect Mubadala's focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction.""Our portfolio has been constructed to navigate market cycles and scale future-focused sectors—from AI and clean energy to life sciences, semiconductors, and advanced manufacturing—all aligned with our national priorities," he Mubarak further commented, 'A highlight of 2024 was the creation of MGX by the Artificial Intelligence and Advanced Technology Council - the new AI investment champion for Abu Dhabi - with G42 and Mubadala as co-founding partners," Al Mubarak said."A growing number of best-in-class investors also continued to partner with Mubadala across key geographies and sectors, reflecting confidence in our approach and long-term strategy. We will work to deepen these partnerships, invest in advancing innovation, and create new entities in Abu Dhabi and around the world," the top official financial highlights from Mubadala's 2024 results underscored its continued success as a trusted guardian of the nation's company delivered a five-year rate of return of 10.1 percent. Assets under management grew by 9.1 percent year-over-year to Dh1.2 trillion, while capital deployed increased by 33.7 percent to Dh119 billion. Proceeds, including monetisations, rose by 10 percent year-over-year to Dh109 portfolio mix remained broadly consistent year-over-year, with 40 percent in private equity, 23 percent in public markets, and 17 percent in infrastructure and real raised Dh30.5 billion through a range of capital market instruments. These included the world's first AA-rated sovereign Sukuk, a bond with the tightest credit spread ever issued in emerging markets, Mubadala's first dirham-denominated global Sukuk, and the first Euro-denominated 6- and 7-year corporate facilities in the EMEA region."Mubadala's 10.1 percent return over the last five years reflects our disciplined capital allocation strategy, resilient execution and consistent focus on long-term value creation," said Carlos Obeid, Group Chief Financial Officer."We continue to grow and diversify across sectors and geographies, supported by a strong balance sheet, a low cost of debt, and a conservative gearing ratio of 7.8 percent, which positions us well for future investments," Obeid added. Mubadala focuses on long-term value creation and, in line with its sovereign investment mandate, reports multi-year performance metrics that reflect the nature of its strategy. Since 2021, the company has not disclosed annual financial figures such as revenue or net income but has disclosed its rolling 5-year IRR, and has begun publishing its 10-year rolling IRR, which was 8.7 percent in 2024 .
Al Etihad
01-05-2025
- Business
- Al Etihad
DCT Abu Dhabi launches International Forum on Cultural Heritage & Knowledge Development
1 May 2025 19:05 ABU DHABI (ALETIHAD)As part of its ongoing efforts to promote cultural education and enhance heritage protection, the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced the launch of the International Forum on Cultural Heritage & Knowledge Development: Fostering a Culture of Integrated event, organised in collaboration with UNESCO, and with the participation of international organisations - including the International Institute for the Unification of Private Law (UNIDROIT), the International Council of Museums (ICOM), International Council on Monuments and Sites (ICOMOS), the International Centre for the Study of the Preservation and Restoration of Cultural Property (ICCROM), the World Customs Organisation, the United Nations Office on Drugs and Crime (UNODC), the International Alliance for the Protection of Heritage in Conflict Areas (ALIPH), the Antiquities Coalition, and the Islamic World Educational, Scientific and Cultural Organisation (ICESCO) - will take place in Abu Dhabi on May 1 and 2, event will bring together a distinguished group of policymakers, academics, educators, cultural heritage experts, legal professionals, and technology specialists to explore the intersections of culture, knowledge, and heritage preservation. Discussions will highlight the social, economic, and historical value of cultural heritage in sustainable development, while also exploring innovative approaches to support educational systems, creative industries, and the use of technology in regional and global heritage protection Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, said, 'Organising the International Forum on Cultural Heritage & Knowledge Development in Abu Dhabi is a pivotal milestone in our journey to enhance cultural education and ensure continued efforts in heritage protection. We firmly believe that culture and knowledge form the foundation for preserving and sustaining cultural heritage. Through a strong collaboration with UNESCO and other organisations, DCT Abu Dhabi's integrated efforts in the UAE and abroad continue to lead initiatives that empower current and future generations to understand and cherish their cultural heritage as a key driver of sustainable development. We remain dedicated to driving cultural education strategies and pioneering initiatives which facilitate knowledge exchange and strengthen cultural identity. These efforts are anchored in international, regional and national collaboration, ensuring that cultural heritage remains an integral part of our future.'This forum is a response to the recommendations of UNESCO's World Conference on Culture and Arts Education, hosted in Abu Dhabi in February 2024. The conference gathered Ministers of Culture and Education from around the world to finalise the UNESCO Framework for Culture and Arts Education, which was initiated in March 2021 by UNESCO Member States, endorsing the final version of the UNESCO Framework to support Member States and Associated States in its Abu Dhabi is committed to championing the protection of cultural heritage, recognising its vital role in fostering creativity, identity, and sustainable development. Through education and awareness, it reaffirms its efforts in empowering communities to actively participate in the preservation and promotion of their cultural legacy, ensuring its enduring value and relevance in an ever-changing implementing the UNESCO Framework for Culture and Arts Education while focusing on Cultural Heritage Protection that is based on UNESCO's International Culture Conventions, DCT Abu Dhabi is committed to identifying the crucial role of cultural heritage as an integral part of culture at large, and directly related to contemporary human core objective of the forum will be to explore the role and importance of cultural heritage as a tool for culture education. This interdisciplinary approach will enable the appreciation of cultural heritage by understanding its historical, social, and economic value, empowering the public to become active participants in its safeguarding. By finding synergies between culture education and in-depth studies of heritage protection, such as risk management and fighting illicit trade in antiquities, DCT Abu Dhabi is creating a more holistic and impactful approach to cultural preservation, ensuring its transmission and continued relevance for generations to forum will welcome more than 25 international experts and participating entities such as UNESCO, UNESCO National Commission of UAE, DCT Abu Dhabi officials, professionals and experts in Collections and Archaeological Finds, museum professionals, International Council of Museums (ICOM), archaeological site managers, ICOMOS, ALIPH, Customs Officers & WCO, art dealers, INTERPOL National Committee, heritage protection police and guards, university professors and students, International Antiquities Coalition, and civil society representatives (NGOs involved in heritage protection).The intensive programme of the forum is divided into seven sessions, including Opening and Closing Sessions. The following topics will be covered across the event's two days:-the UNESCO Framework for Culture and Arts Education (UFCAE) and its implementation-Digital Transformation in Culture and Arts Education-Strengthening Policy, Governance, Cooperation and Legal Frameworks for Heritage Protection-Cultural Heritage in Crisis and Danger: Strategies for protection and recovery-The Future of Cultural Heritage: Community developmentThe forum will be followed by five education modules, each dedicated to the UNESCO Conventions and related legal instruments, organised in May, June, and September 2025.
