RIYADH: In line with Dubai’s commitment to achieving the UN Sustainable Development Goals and becoming a fully sustainable destination, Dubai Can, a citywide sustainability movement launched last year, has reduced the use of an equivalent of more than 7 million 500-ml single-use plastic water bottles in 12 months.
The initiative sees participation from homes, offices, hotels and schools, with the installation of 50 fountains that give out free water in different locations.
Dubai Can has placed water fountains in public parks, beaches and popular tourist destinations, with the help of its partners and sponsors.
All water fountains throughout the city adhere to the highest hygiene standards and provide clean and safe drinking water, which is tested in accordance with local, Gulf and World Health Organization standards.
Yousuf Lootah, acting CEO of corporate strategy and performance sector at Dubai’s Department of Economy and Tourism, said: “We are extremely proud of the progress the initiative has made, and we hope that during this year and beyond, the initiative will continue to encourage residents and tourists to adopt greener practices and lifestyle choices contributing to the Dubai Economic Agenda D33’s goal of consolidating Dubai’s status as one of the world’s top-3 global cities.”
The initiative has inspired significant change at both the individual and community level over the past year, extending beyond the installation of fountains.
Its objective is to increase awareness of the harmful effects of single-use plastics and promote the use of reusable bottles not only at water fountains but also in homes, hotels and elsewhere, aiming to change people’s mindsets.
Surge in business licenses
Reflecting strong growth in its business sector, Abu Dhabi issued a total of 25,593 new economic licenses last year and renewed 73,212 licenses.
Professional licenses witnessed an increase of 161 percent from 243 in 2021 to 635 in 2022. Tourism sector licenses grew to 181 in 2022 from 126 in 2021, an increase of 43.6 percent, while industrial sector licenses rose to 243 from 206 licenses in 2021, a 17.9 percent rise.
“The continued growth of new and renewed economic licenses is a testament of the attractiveness of the business sector in Abu Dhabi despite geopolitical and economic challenges that affected confidence of investors and businesses around the globe,” said Rashed Abdulkarim Al-Balooshi, undersecretary of Abu Dhabi Department of Economic Development.
According to the Business Activity Report issued by the Abu Dhabi Business Center, 23,947 commercial sector licenses were issued in 2022, comprising 93.5 percent of total new licenses. Five hundred and sixty occupational and 25 agricultural, livestock and fishery sector new licenses were issued in 2022.
Dubai's DIFC has about 60 hedge fund firms waiting to be licensed - governor
The Dubai International Financial Centre has about 60 hedge fund firms, with north of a trillion dollars in assets under management, waiting to be licensed, the governor of the emirate's financial freezone said on Monday.
The hedge fund industry is capitalising on new rules and regulations that have been developed to support the sector, which is one of the sources of DIFC's growth, Essa Kazim told reporters in a news conference. "A few have already been licensed," he added.
Millennium Management, ExodusPoint Capital Management and BlueCrest established a presence in Dubai last year, just three of the many funds attracted by lower licensing fees and capital requirements for the industry.
The DIFC registered record breaking growth last year, with the number of active companies in the Gulf's financial hub up by a fifth year on year to 4377, driven by fintech and innovation firms, Kazim said. The number of people employed at the DIFC rose 22% to 63083 workers, he added.
