Latest news with #SaifurRahman
Arabian Post
09-07-2025
- Business
- Arabian Post
Abu Dhabi Chamber's new strategy helps membership grow to 157,207
By Saifur Rahman Abu Dhabi Chamber of Commerce and Industry (ADCCI), which represents the private sector of the region's economic powerhouse Abu Dhabi, said, its new three-year strategy announced in 2024 has started to bear fruits as its membership grew 4.9 per cent to 157,207 between September 2024 and June 2025. Since September 2024, ADCCI has hosted 69 business events with government bodies, welcomed 70 trade and diplomatic delegations, and signed 25 partnership agreements. It has also joined 11 outbound delegations and opened its first overseas representative office in Poland, a strategic step in expanding Abu Dhabi's international economic footprint. ADCCI also published 364 economic reports on various sectors and has created 15 working groups for different economic sectors to help in policy advocacy. ADVERTISEMENT ADCCI is planning to open offices in key international markets one by one in the coming months, Shamis Ali Al Dhaheri, Second Vice Chairman and Managing Director of ADCCI, told the press, responding to a question by The Arabian Post at a media roundtable held at its head office on Tuesday. 'We are going to make these announcements as and when they happen. In Abu Dhabi, we do not distinguish companies based on the nationality of the owner, rather consider all of them our equal member and we are here to serve them,' he said. Abu Dhabi's economy is characterised by a strong oil and gas sector, but the emirate is actively diversifying into non-oil sectors, including tourism, manufacturing, and financial services. In 2024, the non-oil sector saw significant growth, contributing 54.7 per cent to the total GDP. Abu Dhabi's GDP reached a record Dh1.2 trillion in 2024, with a 3.8 per cent overall growth rate, driven largely by the non-oil economy. There are five main free zones in Abu Dhabi including Abu Dhabi Global Market (ADGM), Khalifa Economic Zones Abu Dhabi (KEZAD), Masdar City Free Zone, Abu Dhabi Airport Free Zone (ADAFZ), and Twofour54 Free Zone. These free zones cater to a variety of industries and sectors, offering unique benefits and infrastructure for businesses. There are approximately 10,500 companies registered across five free zones in Abu Dhabi. The Abu Dhabi Global Market (ADGM) is the largest free zone in terms of the number of companies. The UAE overall has over 40 free zones, with Dubai holding the largest share of licenses. ADVERTISEMENT Abu Dhabi currently has approximately 164,000 active business licenses. This figure represents a 16.5 per cent share of the total active licenses in the UAE, which reached one million, according to Akhbrna News. The number of active licenses in Abu Dhabi reflects a 3 per cent increase compared to late 2024. 'We are also welcoming the free zone companies to apply for our membership so that they could benefit from the consultation and our services as we are the voice of the private sector of Abu Dhabi economy,' he said, responding to another question by The Arabian Post. Recently, Fitch ratings assigned AA credit rating for Abu Dhabi AA with a stable outlook. This rating reflects Abu Dhabi's strong financial position and its ability to meet its financial obligations. The rating has been affirmed as stable, indicating no immediate changes are expected in the near future. 'The private sector represents 56 per cent of Abu Dhabi economy and ADCCI represents the voice of the private sector of Abu Dhabi economy. Our three-year strategy announced last year is going ahead and we have strengthened our engagement with the businesses – SMEs as well as the larger players – to help the overall development of the private sector,' he said. 'Abu Dhabi's economic strength is reflected in the number of new members, and we believe strong partnerships between the public and private sectors will continue to produce success. The rise in memberships highlights the Chamber's strategic role as a key partner in economic development and a driver of competitiveness and sustainable growth. We stand shoulder to shoulder with the business community, sharing its ambitions and providing the tools and resources to compete on the global stage.' The Chamber's performance correlates with Abu Dhabi's economic progress. The emirate's GDP reached Dh291 billion in Q1 2025, a 3.4 per cent increase year-on-year, driven by a 6.1 per cent rise in non-oil sectors to account for 56.2 per cent of total GDP, reflecting success of economic diversification strategy. The private sector continues to accelerate economic growth and diversification as evidenced by their impactful role in the highest growing non-oil sectors and largest contributors to economic output such as manufacturing, construction, finance, real estate, and trade. In addition to its external engagements, the Chamber continued strengthening its internal services. Between September 2024 and June 2025, ADCCI recorded a 90.23 percent customer satisfaction rating on the TAMM platform. The Chamber's call centre responded to more than 18,900 inquiries, demonstrating its level of responsiveness and service quality. ADCCI continues to support the private sector by improving regulatory frameworks and facilitating open dialogue with policymakers. To date, it has formed 15 working groups comprising business leaders to identify challenges and collaboratively develop practical solutions across key industries. It has published 364 economic reports to support decision-making and held 10 workshops attended by over 1,000 private sector representatives to help the business community better understand legal and commercial opportunities. ADCCI's work is closely aligned with the objectives of Abu Dhabi's Falcon Economy and supports wider national economic goals through targeted support for SMEs, exporters, and investors. Its 2025–2028 roadmap, developed in close collaboration with the private sector, guides ADCCI's efforts to provide key market insights and access to investment opportunities. Through its roadmap, ADCCI will continue to strengthen capacity building and contribute to the sustainable and inclusive growth of Abu Dhabi's economy. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Post
25-06-2025
- Business
- Arabian Post
UAE developers enters the $110.83 trillion US realty market
By Saifur Rahman A number of UAE developers are entering the lucrative US$110.83 trillion real estate market in the United States, after their success in the UAE, which saw real estate transactions exceeded Dh893 billion last year. Americans are also one of the top ten nationalities to invest in the UAE's real estate market where rental yield ranges between 7 to 9 percent. 'Emirati investments in the US, totaling over US$1 trillion, span from real estate to renewable energy, driving economic growth and creating jobs,' according to a report by UAE Embassy in Washington. ADVERTISEMENT 'The UAE-US trade and investment partnership continues to be a testament to the strength and potential of international cooperation. The UAE trades with all 50 US states, significantly supporting the American economy. US trade with UAE supports 161,000 American jobs.' The UAE recently announced investment of US$1.4 trillion in US data centres while UAE's ADNOC said, it will invest US$60 billion in expanded energy partnerships with major US firms and Emirates Global Aluminum said it will invest US$$4 billion in an aluminum smelter in Oklahoma. The enterprise value of UAE investments in the U.S. energy sector will rise to $440 billion by 2035 from $70 billion now. Among the UAE developers, Moafaq Al Gaddah (MAG) Group, Invest Group Overseas (IGO), Mulk Holding, Dar Global and Sobha Realty have already announced a number of their projects that are being developed in different cities in the US. Damac Group earlier announced US$20 billion investment in data centre in the US. 'For American investors, UAE real estate offers high yields, tax benefits, and diversification in a fast-growing market. Investing in UAE real estate provides capital security, global market access, and an inflation hedge,' according to Martin Kocher, Partner at Alternative Investments. Abu Dhabi's Mubadala Investment Company has recently injected new capital into the US alternative real estate commercial lender 3650 REIT as part of a recent funding round. Mubadala's website indicates that its real estate division has partnered with 3650 REIT and CalSTRS to commit up to US$4 billion towards the US real estate credit markets. ADVERTISEMENT 'The total value of the US housing market is approaching US$50 trillion, having added $3.1 trillion in value over the past year. This represents a 6.6 percent rise compared to June 2023 and is more than double the value of a decade ago. Residential real estate is expected to be the dominant segment of the US real estate market, with a projected market volume of US$110.83 trillion in 2025,' said a recent report by Statista, a global market intelligence provider. Foreign investment in U.S. real estate surpassed US$1.2 trillion in the last 15 years, according to a report published by The Regulatory Review. Foreign buyers purchased 54,300 properties, worth US$42 billion from April 2023 through March 2024, according to the US National Association of Realtors (NAR). Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased US$22.6 billion worth of U.S. existing homes, representing 54 percent of the dollar volume of purchases. Foreign buyers who lived abroad purchased US$19.4 billion worth of existing homes, accounting for 46 percent of the dollar volume. International buyers accounted for 2 percent of the US$2.1 trillion in total annual US existing-home sales during that period. Florida remained the top destination for foreign buyers, accounting for 20 percent of all international purchases. Texas (13%) and California (11%) were second and third, respectively, followed by Arizona (5%), Georgia, New Jersey, New York and North Carolina (4% each), NAR said. Inventory in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 43 percent in April compared to the same month a year earlier, according to data from Miami Realtors. This surge in for-sale homes could be a telltale sign of an impending cooldown in Miami-Dade's housing market, even as prices continue to rise in the county at a rate five times faster than the national level, according to Redfin data. The news comes as more than 100 real estate exhibitors from 15 countries including UAE are going to participate at the 2nd edition of America Property Exhibition, Summit and Gala Awards that will take place at the Miami Convention Centre from September 15-17, 2025. Organised by MIE Events, an international events organiser, and supported by Dubai Land Department, the 2nd America Property Exhibition (APEX) will see major UAE real estate developers; brokers and investors participate in the three-day event that will also focus on the cross-border investment in real estate and construction sector worldwide. APEX will attract more US investors and property buyers to buy properties in the UAE. The APEX takes place a few months after the UAE's recent announcement of investment outlay of US$1.4 trillion in US economy in the next ten years in various sectors like AI infrastructure, semiconductors, energy, housing and American manufacturing. More than 3,000 professional realtors are expected to attend the three-day event in which more than 100 global real estate projects will be showcased where 150 experts and speakers will offer their insights and more than 100 VIP buyers will attend to invest in the projects that will be showcased at the APEX 2025 Exhibition and Conference. 'APEX is designed to be the leading international real estate platform in the US, promoting global investment, innovation, and partnerships in the property sector and we are delighted to announce the dates for the 2nd APEX this September, following our successful first edition held last year,' Zahoor Ahmed, Vice-President for Strategy and Partnerships at MIE Events, says. 'We are also happy to announce our partnership with the Dubai Land Department which has lent its strong support to the event that is expected to attract investment from the North American markets to the UAE's property market in the coming years. This way, APEX is going to play a crucial role in strengthening the US-UAE economic partnership.' Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Post
24-06-2025
- Business
- Arabian Post
IMF approves $1.33 billion to support Bangladesh economy
By Saifur Rahman The International Monetary Fund (IMF) has approved the allocation of US$1.33 billion to Bangladesh to support the country's economy that witnessed slowdown since the change of government in August 2024. The allocation is part of the US$4.7 billion combined support package authorised by the IMF in January 2023 under the US$3.3 billion Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and US$1.4 billion Resilience and Sustainability Facility (RSF), the International Monetary Fund (IMF) said. The decision comes following the conclusion of the combined third and fourth reviews of Bangladesh's arrangements under the ECF, EFF and RSF that approved an extension, augmentation and re-phasing of access funds. However, the latest allocation exceeds the total ECF and EFF package by US$800 million, from US$3.3 billion to US$4.1 billion and brings the total allocation to US$5.5 billion. 'The augmentation approved by the [IMF] Executive Board today brings the total financial assistance under the ECF and EFF arrangements to US$ 4.1 billion, alongside concurrent RSF arrangements of US$1.4 billion. The enlarged enhanced ECF/EFF is aimed at restoring macroeconomic stability, promoting inclusive growth, and protecting the vulnerable. The RSF arrangement has secured fiscal space needed to build resilience against climate risks,' IMF said in a statement. Bangladesh's macroeconomic challenges have increased since the popular uprising in the summer of 2024, which led to the ouster of the previous government, IMF observed in its latest report. 'The timely formation of an interim government has helped stabilise political and security conditions, fostering a gradual return to economic stability. However, the economic outlook has worsened due to persistent political uncertainty, continuation of tighter policy mix, rising trade barriers, and increasing stress in the banking sector,' it said. Bangladesh's Gross Domestic Product (GDP) has grown to US$473.63 billion in the financial year ending June 30, 2025 from US$413.90 billion in the last financial year, IMF data shows. The country's GDP growth rate declined from 7.1 per cent in the 2022 financial year to 3.8 percent this year. However, IMF projects the GDP growth to accelerate to 5.4 percent next year and 6.2 percent in the 2027 financial year. After a fall in real GDP growth to 4.2 percent in FY24 from 5.8 percent in FY23, economic activity slowed further in FY25, the World Bank recently said in its periodic economic update on Bangladesh. 'The economy continues to face significant challenges, including investment moderation, elevated inflation and vulnerabilities within the financial sector. However, external sector pressures have apparently eased, with robust growth in remittance inflows and exports bolstering the current account balance in FY25,' the World Bank said. 'Real GDP growth is projected to further moderate to 3.3 percent in FY25 due to declining private and public investment. Political uncertainty and rising costs associated with borrowing and inputs are expected to constrain private investment growth and keep industrial growth subdued.' Public investment will decline as the government reduces capital expenditure in FY25. The fiscal deficit is expected to remain under 5 percent of GDP in the medium term, with capital expenditure increasing only gradually. Inflation is likely to remain elevated in the near term, it observed.. Nigel Clarke, IMF Deputy Managing Director, said, 'Bangladesh's economy continues to navigate multiple macroeconomic challenges. Despite a difficult environment, programme performance has remained broadly on track, and the authorities are committed to implementing necessary policy actions and reforms. The IMF-supported programmes are helping safeguard macroeconomic stability and protect the most vulnerable, while accelerating reforms to support resilient and inclusive growth. 'Near-term policies should prioritise rebuilding external resilience and reducing inflation. The authorities' recent steps to implement a new exchange rate regime and include revenue-enhancing measures in the FY2026 budget are welcome. A balanced policy mix—anchored in maintaining a tight monetary policy stance, greater exchange rate flexibility, and revenue-based fiscal consolidation—will support efforts to restore both external and internal balances.' Efforts to raise tax revenues and rationalise expenditures—including through subsidy reduction—are critical for creating the fiscal space needed to strengthen social, development, and climate initiatives. Sustained progress in reducing government subsidies to a fiscally sustainable level, along with enhanced public financial management, is essential to improving spending efficiency and mitigating fiscal risks, Nigel Clarke observed. 'Financial sector policy should prioritise safeguarding stability and addressing rising vulnerabilities. Developing a comprehensive, sequenced strategy to guide reforms is an immediate priority, followed by the swift implementation of the new legal frameworks to enable orderly bank restructuring while protecting small depositors,' he said. 'Sustained structural reforms are essential for Bangladesh to achieve its goal of attaining upper middle-income status. Key priorities include diversifying exports, attracting greater foreign direct investment, strengthening governance, and enhancing data quality.' Bangladesh's real GDP is expected to rise gradually in the medium term, if backed by critical reforms. Inflation is expected to gradually subside in the medium term on the back of tight monetary policy, fiscal consolidation and easing import restrictions on key food commodities. Rising trade uncertainties are expected to put pressure on the external sector. 'Bangladesh will need bold and urgent reforms to bolster the financial sector, facilitate trade, and enhance domestic revenue mobilisation,' said Gayle Martin, World Bank Interim Country Director for Bangladesh. Dhruv Sharma, World Bank Senior Economist, added, 'The risks to the outlook are on the downside as uncertainties related to trade, persistent inflationary pressure, weak demand in Bangladesh's major export markets, and intensifying financial sector vulnerabilities could weigh on growth.' Also published on Medium. ADVERTISEMENT Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Post
04-06-2025
- Business
- Arabian Post
Dubai's real estate market gets ready for US$500 million fund for tokenisation
By Saifur Rahman Nisus Finance Investment Consultancy FZCO (NiFCO Dubai), a subsidiary of India's Nisus Finance Services Company Limited (NIFCO), said it will place funds and assets worth up to US$500 million (Dh1.83 billion) for tokenisation in the UAE. NiFCO Dubai said, it has signed a Memorandum of Understanding (MoU) with Xchain Technologies FZCO (Toyow), a leading blockchain-based forensic and advisory firm, for the tokenisation of funds and assets worth up to US$500 million (Dh1.83 billion), as the market shifts towards Web3 technology. ADVERTISEMENT Tokenisation, the process of converting ownership rights of real-world assets into digital tokens, is gaining traction in the Middle East, particularly in Dubai. This trend is driven by the potential for increased liquidity, accessibility, and transparency in real estate investment. Nisus Finance plans to conduct a Security Token Offering (STO) of its real estate assets under management (AUM) through Toyow's marketplace. Toyow will provide end-to-end technical support, including smart contract development, blockchain integration, and regulatory alignment. The news comes a few days after Dubai Land Department (DLD) launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative is being implemented in partnership with Prypco. These are in line with the UAE's futuristic national vision focusing on technology and innovation. The news comes a few days after the DLD launched the region's first tokenised real estate investment project in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the UAE, and the Dubai Future Foundation (DFF). With DLD projecting tokenised real estate transactions to reach Dh60 billion by 2033 — or 7 percent of the total market — Dubai is clearly positioning itself as a global hub for asset tokenisation. 'This MoU will help us develop real estate funds on the Web3 blockchain technology platform – that is set to revolutionise investment in real estate in the future,' Amit Goenka, Chairman and Managing Director of Nisus Finance Group (NiFCO), said. 'This would be our first such venture and depending on how the market responds, will usher in a new era in the UAE's high-growth real estate market. ADVERTISEMENT 'STO on a Web3 platform is secure, transparent and set to drive future real estate investment. Property developers are already introducing cryptocurrency and tokenisation as new channels of payment and raising funds. We are taking it a step forward by creating funds to accelerate the growth of the real estate market.' Dubai is taking a leadership role in the Middle East in real estate tokenisation, while the global real estate tokenisation market is expected to reach US$18.9 trillion by 2033. Tokenised private real estate funds are projected to grow to US$1 trillion by 2035, with a total market penetration rate of 8.5 percent. The tokenised ownership of loans and securitisations could grow to US$2.39 trillion by 2035, with a total market penetration rate of 0.55 percent, according to a report by the global business advisory firm Deloitte. Tokenisation could democratise the real estate market through crowdfunding and fractional ownership that will allow investors to invest smaller amount in high-value projects, according to experts. 'This will help an increased number of investors to participate in investing in properties through Web33 technology,' said a property analyst, requesting anonymity. 'However, there should be clear regulatory guidelines and massive public awareness drive for retail buyers and micro-investors to gain insights before investing their hard-earned savings in to tokenised assets.' As per the MoU, Xchain Technologies FZCO will tokenise Nisus Finance's Real Estate Assets Under Management (AUM) worth up to US$500 million (Dh1.83 billion) as security tokens on Toyow, a global multi-category tokenised Real World Assets (RWA) marketplace. Toyow will leverage its platform to provide technical and operational support, including regulatory compliance across the UAE, DIFC, and international jurisdictions. Investors holding the Toyow Token will be able to invest in this fund using Toyow Token ($TTN). 'The tokenised real-world assets market (excluding stable coins) reached $15.2 billion by December 2024. This growth is fueled by a supportive regulatory landscape, technological advancements, and increased investment from financial institutions,' according to reports. The growth in real estate tokenisation is driven by several factors, including: increased institutional Interest; clear regulatory support; technological maturation; investment opportunities as tokenisation allows for fractional ownership and access to real estate for a wider range of investors, including those with lower investment capital. Surajit Chanda, Co-founder, Toyow, says, 'Partnering with Nisus Finance on an STO of this scale underscores the growing maturity of real-world asset tokenization in the region. At Toyow, our mission is to unlock liquidity and access for high-quality assets by offering a secure, compliant, and scalable infrastructure. This collaboration reinforces our belief that institutional-grade tokenization is no longer a concept—it's here, it's accelerating, and it's changing how capital flows into real estate.' Toyow will also manage investor onboarding and KYC/AML compliance, provide secure wallet and custody infrastructure, and enable both primary issuance and secondary trading of the tokenised assets—all within a seamless, compliant ecosystem designed for institutional-grade scalability. Toyow is redefining access to real-world assets by enabling the tokenisation of categories like real estate, art, precious metals, alternative investments, and more, on-chain. Built for institutional-grade compliance and scalability, Toyow enables asset owners to digitise, fractionalise and monetise high-value assets, while offering investors secure, transparent access to global investment opportunities through a liquid, blockchain-powered marketplace. The partnership is part of Toyow's growing tokenisation pipeline valued at over US$38 billion across multiple asset classes and jurisdictions globally. As per the MoU, Toyow will list the tokenised real estate assets on its marketplace for primary and secondary trading, while managing liquidity mechanisms for the secondary trading of security tokens. In addition to these, Toyow will also oversee marketing, investor outreach, and awareness campaigns for the STO, in addition to providing a secure wallet infrastructure and custody solutions for tokenised assets. It will also handle all aspects of investor onboarding and operational execution for the STO, including customer support and transaction management. Disruptive technologies, such as asset tokenisation, are poised to transform real estate over the next few years. Built on blockchain technology, tokenisation converts physical or financial assets into fractional, digital representations that can be securely owned and traded online. 'Tokenised real estate could not only pave the way for new markets and products, but also give real estate organisations an opportunity to overcome challenges related to operational inefficiency, high administrative costs charged to investors, and limited retail participation,' according to a report by Deloitte. Tokenisation allows capital generation across the capital stack- including debt, equity, and hybrid funding on a single platform. Over the last eight years, since the first tokenised real estate deals were completed, it has helped open potential new avenues for real estate investment through fractional ownership, the report says. This technology could help build trillions of dollars of economic activity for the real estate sector over the next decade, in part, by allowing it to expand its investor base and product offerings. The Deloitte Center for Financial Services predicts that US$4 trillion of real estate will be tokenised by 2035, increasing from less than US$0.3 trillion in 2024, with a CAGR of 27 percent. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Associated Press
29-05-2025
- Science
- Associated Press
How clean energy fuels the comeback of Shennongjia's golden snub-nosed monkeys?
BEIJING, May 29, 2025 /PRNewswire/ -- Finding Answers in China from Deep in the lush and mysterious forests of Shennongjia, central China's Hubei province, golden figures leap effortlessly through the treetops—these are the Shennongjia golden snub-nosed monkeys. Once on the brink of extinction, they've made a stunning recovery and are now even recognized as a unique subspecies. But what's the story behind their stunning revitalization? How has China's energy transition played a key role in protecting their habitat? And can China's ecological wisdom offer new solutions for the world? To find out, Peruvian host Rebeca Phang from teams up with global energy expert Professor Saifur Rahman for a journey into the heart of Shennongjia. When clean energy meets biodiversity conservation, and when technology empowers nature to thrive, the answers may lie in the rhythm of the forest—and in China's commitment to green development. This is more than a story about endangered monkeys; it's a search for a new path to harmony between humanity and nature. How clean energy fuels the comeback of Shennongjia's golden snub-nosed monkeys? View original content to download multimedia: SOURCE
