Urdu Weekly | Urdu News |Online Weekly Urdu Newspaper

Category: Commerce

  • Webinar on “A Guide for Overseas Pakistanis on Investing in Exchange Traded Funds(ETFs)”

    Webinar on “A Guide for Overseas Pakistanis on Investing in Exchange Traded Funds(ETFs)”

    Webinar on “A Guide for Overseas Pakistanis on Investing in Exchange Traded Funds(ETFs)”

    Abu Dhabi(News Desk)::The Pakistan Stock Exchange (PSX) in collaboration with Pakistan Business Professional Council (PBPC) Abu Dhabi and Mahaana Wealth successfully organized a webinar on “A Guide for Overseas Pakistanis on Investing in ETFs” on May 15,2024. This is a quarterly webinar with the Pakistan Stock Exchange.
    The event aimed to provide the participants to explore into the world of ETFs, unveiling possibilities and advantages offered for investment portfolio, offered for overseas Pakistanis.Dr. Qaiser Anis, President of the Council highlighted the benefits of the Exchange Traded Funds for overseas Pakistanis, as well as, investing in Roshan Equity Investment.
     Ms. Raeda Latif, Chief Marketing and Business Development Officer PSX presented on how to invest in the Pakistan Stock Exchange through the Roshan Equity Investment (REI) Account, followed by Mr. Aamir Mushtaq Kanju, Deputy General Manager Product Management and Research, PSX gave a detailed overview, analyzing market trends and investment opportunities in ETF.
    The Pakistan Stock Exchange has introduced nine (9) ETFs, with JSMFI having the highest annual return as of April 2024.ETF provides diversified exposure to the Pakistani stock market, accessible to retail investors through their brokerage accounts at a much lower cost compared to existing options in the market.
    Chief Investment Officer of Mahaana Wealth Mr. Mubashir Zuberi gave an overview and expertise on Mahaana Islamic Index ETF.
    The MIIETF was officially listed on the PSX on March 11, 2024. This ETF is designed to track the performance of the Mahaana Islamic Index (MII30), which is regularly rebalanced and reconstituted to offer long-term appreciation and dividend yield to investors.*

    The presentations were followed by the question-and-answer session by the community members.
    In closing remark, Dr. Qaiser Anis thanked the speakers for participating in the mission of the Council to serve the community and Pakistan in promoting the Roshan Digital Account and Investing in the Pakistan Stock Exchange. The Council continuously and actively supports any initiatives that provide benefits to overseas Pakistanis for protecting their investment, earning income, and keeping the funds either in foreign or local currency.
    The event was broadcasted live on PSXs Facebook page and viewed by hundreds of overseas Pakistanis.  Attended by prominent Pakistani community members and representatives of leading community organizations and businesses from Abu Dhabi,Dubai, as well as various parts of other Emirates and other GCC Countries.

     

  • Dugasta Properties announces a pipeline of Dh1.5 billion worth of projects

    Dugasta Properties announces a pipeline of Dh1.5 billion worth of projects

    Dugasta Properties announces a pipeline of Dh1.5 billion worth of projects

    Dubai-based developer celebrates industry milestones with more than 3,000 real estate brokers joining its sales network

    Dubai(News Desk)::Dugasta Properties, a Dubai-based real estate developer, announced a project pipeline that will see the developer roll out Dh1.5 billion worth of projects in the next few months. The developer has signed up more than 3,000 real estate agents to accelerate the marketing and sales activities in the coming months.
    Dugasta Properties Chairman Tauseef Khan made the announcement at a Milestone Gala event in front of industry leaders and real estate stakeholders who were treated with a memorable musical extravaganza that captivated the audiences at the Emirates Golf Course.
    He also announced a unique incentive programme that will see ten top salespersons win super-luxury cars, that will further invigorate the agents drive for excellence.
    “Success is the result of a strong teamwork and today, we are not only celebrating our success, we are
    celebrating the contribution and success of our partners – our extended team who have helped us achieve a great milestone in our journey,” Tauseef Khan, Chairman of Dugasta Properties said as he handed over keys of vehicles to successful sales agents. Five agents were given keys to five Geely Monjaro Sports-Utility Vehicles (SUVs), as a gesture by Mr Khan.
    “We are immensely proud of our achievements and the dedication of our agents,” asserted Mr. Khan.
    “This Dh1.5 billion investment signifies a new epoch in our journey, fortifying our commitment to innovation, quality, and the establishment of new benchmarks within the Dubai real estate market.
    Together, we will persist in our pursuit of excellence and deliver superlative results.” This grandiose event, meticulously orchestrated by Dugasta Properties, was a testament to its prolific success and steadfast alliances. The evening, epitomised by grandeur and sophistication, honoured the contributions of the companys extensive sales and brokerage agent network.
    Attendees were received at a sumptuously adorned venue reflecting Dugasta Properties luxurious ethos. The evening commenced with a red-carpet reception, fostering an atmosphere of fervent anticipation and affording guests the opportunity to network and exchange insights.
    The gala featured scintillating performances by renowned Bollywood music composer Sajid-Wajid and
    acclaimed singers including Sajid Khan, Mamta Sharma, Nakash Aziz, Irfan Ali, Tej Gill, and Ali Quli
    Mirza. These electrifying performances imbued the evening with a festive ambiance, rendering the event
    an indelible experience for all attendees.
    Dugasta Properties leveraged the event to herald several avant-garde developments, exemplifying its
    relentless pursuit of innovation and expansion. These projects, designed to cater to the evolving demands of contemporary buyers, span residential, commercial, and mixed-use developments, each epitomizing the company’s dedication to quality, sustainability, and cutting-edge design. Mr. Khan further underscored the paramount importance of nurturing robust relationships with agents and partners, emphasising that Dugasta Properties success is predicated on trust and collaborative synergy.He assured attendees of the companys unwavering support and encouraged them to sustain their exemplary efforts.
    The event also provided a forum for agents to glean insights into the companys future stratagems and trajectory. Open dialogue with the companys leadership further solidified the rapport between Dugasta Properties and its agent network, fostering a shared sense of purpose and commitment.
    Dugasta Milestone Gala Awards

    Top Sales Achieving Agencies
    1. IC Premier Properties LLC
    2. Rem Real Estate Broker
    3. Habstone Homes Real Estate
    4. May Fair Real Estate Broker
    5. Parker Premier Real Estate
    Top Agent Onboarding Relationship Managers
    1. Gunjan Mangla
    2. Pallavi Sharma
    3. Yasmeen Gul
    4. Harshiita Chaudhary
    5. Nail Salakhov
    Top Sales Achieving Relationship Managers
    1. Piyush Shah
    2. Syeda Beenish
    3. Wania Khan
    4. Neha Sachdeva
    5. Deepti Mahindroo
    (Ends)

  • Arabia Insurance And Policybazaar.ae Announce Strategic Partnership

    Arabia Insurance And Policybazaar.ae Announce Strategic Partnership

    Arabia Insurance And Policybazaar.ae Announce Strategic Partnership

    Partnership empowers UAE Customers with Seamless Online Access to Critical Illness and several other essential Insurance products

    UAE (News Desk):: Arabia Insurance, a leading insurance provider in the United Arab Emirates, and Policybazaar.ae, UAEs leading insurance aggregator, today announced a strategic partnership to offer a wider range of insurance products to customers in the UAE through Policybazaar.ae’s user-friendly online platform.
    This collaboration will enable Arabia Insurance to leverage Policybazaar.aes robust online insurance aggregation platform – ensuring that Arabia Insurances suite of products, including critical illness insurance, becomes readily accessible to a wider audience across the UAE. Customers will now be able to compare and purchase Arabia Insurance plans seamlessly online, simplifying the insurance buying journey.
    Serge Flouty, Senior Country Manager-UAE of Arabia Insurance, said, We are excited to partner with Policybazaar.ae, a leading player in the online insurance market. Their cutting-edge technology and extensive reach will allow us to offer our comprehensive insurance solutions, including critical illness plans, to a larger customer base in the UAE. This partnership aligns perfectly with our vision of making
    insurance more accessible and convenient for everyone.
    Commenting on the partnership, Neeraj Gupta, CEO, Policybazaar.ae said, We are delighted to join forces with Arabia Insurance, a renowned name in the UAE insurance sector. This partnership allows us to expand our product offerings in the UAE and empower customers to make informed insurance decisions through a transparent and user-friendly online platform. This collaboration will particularly benefit individuals
    seeking critical illness insurance, making it readily available online for the first time.
    UAE customers stand to benefit significantly from this partnership, gaining access to a diverse array of products, notably critical illness plans by Arabia Insurance, along with the convenience of an online platform for swift and hassle-free purchases anytime, anywhere. This platform promotes transparency by enabling customers to compare plans, features, and prices, empowering them to make informed decisions
    efficiently. Together, these advantages streamline the insurance process, ensuring UAE customers find tailored coverage effortlessly.(-end-)

  • Bloom Holding & LEAD Development Announce Luxury  Residential Project in Europe

    Bloom Holding & LEAD Development Announce Luxury  Residential Project in Europe

    Bloom Holding and LEAD Development Announce Luxury  Residential Project in Europe

    Abu Dhabi (News Desk)::Bloom Holding, one of the UAE’s foremost real estate development companies, and LEAD Development, a leading real estate developer in the UAE, announced a joint venture agreement with Spain’s high-end residential developer, Mabel Real Estate, a division of Mabel Capital, to co-develop a luxury residential project in Spain.
    This strategic partnership, which brings together leading players in the real estate industry, will see the development of “Mabel Marbella Residences”. The project will span over 100,000 sqm of land in the coveted Golden Mile, a premier residential area in the Spanish city, Marbella.
    Marbella enjoys a robust real estate market paired with unparalleled climate and cultural richness. The demand for prime real estate in this coastal city is driven not only by international buyers but also by Spanish nationals seeking second homes.
    Carlos Wakim, CEO of Bloom Holding, said: “This announcement marks a major milestone in our journey to fulfil our international expansion strategy, explore opportunities in high-growth real estate markets, and launch our premium projects in Europe. By joining forces with LEAD Development and Mabel Capital, we can leverage our expertise, strengths, and common approach to developing residential properties as
    we mark our first expansion in Europe and enter this mature market. Spain, and Marbella in particular, remains a global destination for luxury homes that continues to attract both investors and homeowners from across the globe presenting an attractive entry point for Bloom Holding. This strategic partnership aligns with Bloom Holding’s forward-looking aspirations to broaden its development horizons.”
    Manuel Campos Guallar, Chairman of Mabel Capital echoed this sentiment, adding,We are honored to collaborate with such high caliber partners as Bloom Holding and LEAD Development in such a prime location and project. We plan to develop Marbella’s most exclusive gated community, creating an environment of refinement, tranquility, and breathtaking sea and mountain views. Architecture will blend
    the Al-Andalus traditional heritage of the region with cutting-edge contemporary features, surrounded by a majestic landscape.
    Mounir Haidar, Co-founder and Managing Partner of LEAD Development shared, LEAD is excited to embark on its first international opportunity and is pleased to collaborate with Bloom Holding and Mabel Capital, who will lead our entry into Spain, Europe, and potentially beyond. Leveraging the expertise and experience of both Bloom Holding and LEAD, we are poised to make a significant impact in one of the most
    sought-after real estate markets in Europe.(-ENDS-)

  •  Alpha MBM Investments a Key Partner in Abu Dhabi’s Space Eco Park and Satellite City Project

     Alpha MBM Investments a Key Partner in Abu Dhabi’s Space Eco Park and Satellite City Project

    Alpha MBM Investments Assumes Role as Founding Shareholder and Key Partner in Abu Dhabi’s Space Eco Park and Satellite City Project

    AbuDhabi:(News Desk):In a significant move for advancing space technology and industry in the Middle East, Alpha MBM Investments, a private investment office of Sheikh Mohammed Bin Maktoum Bin Juma Al-Maktoum, a member of the Dubai Royal family, has made an investment of US$25 million in Aspace International Holdings Limited. This investment, made in March 2024 at a valuation of US$500 million, marks Alpha MBM Investments official entry as the founding shareholder and comprehensive strategic partner of Aspace International Holdings Limited.
    The endeavor aims to propel the region’s space capabilities forward and foster innovation within the industry. Aspace International Holdings Limited has secured 3 million square meters of land in KEZAD, Abu Dhabi, where it plans to develop the ambitious Abu Dhabi Space Eco Park and Satellite City. This project envisions an ecological hub housing 3,000 enterprises, poised to become the largest advanced manufacturing hub in the Middle East’s space industry.

    Mr. Sun Fengquan, Chairman & CEO of Aspace International Holdings Limited, expressed delight at having Sheikh Mohammed Bin Maktoum Bin Juma Al-Maktoum, on board, emphasizing the significance of his support in realizing their vision. The partnership is seen as a testament to their shared commitment to driving progress in space technology within the region.
    Sheikh Mohammed Bin Maktoum Bin Juma Al-Maktoum underscored the transformative nature of the project, aligning with the UAE’s forward-looking vision. By investing in cutting-edge infrastructure and fostering collaboration among international enterprises, the aim is to establish the region as a global leader in space exploration and satellite technology.

    The involvement of the private investment office of Sheikh Mohammed Bin Maktoum Bin Juma Al-Maktoum, as the founding shareholder is a pivotal milestone in the development of the Abu Dhabi Space Eco Park. Already, more than 200 companies from various countries have expressed their intent to join the project. The UAE continues to extend its invitation to companies worldwide to participate in building the largest industrial cluster park in the Middle East. With its emphasis on innovation, inclusiveness, financial support, and a stable international platform, the Abu Dhabi Space Eco Park and Satellite City project aims to redefine the region’s role in the space industry.(END):

  • Bloom Holding Sells Out Olvera, Sixth Phase of Bloom Living

    Bloom Holding Sells Out Olvera, Sixth Phase of Bloom Living

    Bloom Holding Sells Out Olvera, Sixth Phase of Bloom Living

    Abu Dhabi(News Desk): Bloom Holding, one of the UAE’s foremost real estate development companies announced that Olvera, its latest phase of Bloom Living, has sold out in record time.Bloom’s sales center witnessed huge numbers of customers and investors interested in the two and  three-bedroom townhouse offered within the sixth phase of Bloom Living, the fully integrated andall-inclusive community in AbuDhabi.
    All villas and townhouses in Bloom Living’s launched phases have been successfully sold out reflecting the strength of the project’s proposition as a premium community living destination that caters to the evolving needs of residents.
    Bloom Holding CEO, Carlos Wakim said: “Bloom Living has attracted significant interest from both local and international buyers looking for integrated community living in prime location. The success of the sales emphasizes Abu Dhabi’s continued appeal as a destination to invest in and Bloom Living’s position as a desirable destination to reside in. We expect that sales will continue to perform strongly as we release more phases of this all-inclusive and vibrant community.”-ENDS-

  • Abu Dhabi Fund for Development participates in annual meetings of Islamic Development Bank

    Abu Dhabi Fund for Development participates in annual meetings of Islamic Development Bank

    Abu Dhabi Fund for Development participates in annual meetings of Islamic Development Bank

    Abu Dhabi(News Desk)::– Abu Dhabi Fund for Development (ADFD) participated in the annual meetings of the Islamic Development Bank (IsDB) Group, held in Riyadh from April 27 to 30, in conjunction with the celebration of the bank’s golden jubilee. The meetings were held under the theme “Cherishing our Past Charting our Future: Originality, Solidarity and Prosperity”.

    Abu Dhabi Fund for Development held separate meetings with ministers, senior officials, and strategic partners from different countries, discussing cooperation, as well as innovative and sustainable financing solutions to support developing countries in achieving their respective development goals and programs.

    The meetings included a series of events and forums in the presence of high-level experts from governments and regional and international organizations who praised IsDB’s role and its efforts towards achieving economic and social development for the bank’s member states.

    His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, participated in a main session that highlighted the importance of the initiatives and achievements of the Arab Coordination Group and discussed ways to strengthen the partnership between the members of the group. He stressed the importance of the partnership between the members of the group, which is considered a strategic alliance that provides a coordinated response to financing development. He pointed out that creating a better life for communities requires an advanced partnership that is sustainable in its impact, especially since integration to maximize results and joint work to reduce the costs of managing development operations are two main goals for all institutions and funding funds.“Fifty years of cooperation and joint work among members of the Coordination Group contributed to achieving many accomplishments. The beneficiary communities were able to access health and educational services, and the movement of goods and people was facilitated, allowing partner countries to build their economies and stimulate positive growth,” H.E. Al Suwaidi added.

    He stated that over the past 50 years, the group had been able to build advanced infrastructure in more than 130 countries around the world, in addition to building the capabilities of partner country institutions, training individuals, and exchanging knowledge. He pointed out that the presence of strong institutions capable of implementing its projects is necessary to sustain its impact. Members of the group have expanded their financing tools and means of implementation to meet the emerging needs of countries in 50 years and also to address global issues of concern.

    H.E. Al Suwaidi confirmed that the members of the Coordination Group had funded many initiatives to address strategic development issues, notably the announcement in 2022 of support for issues related to climate change. The group provided US$24 billion, of which US$10 billion was allocated at COP 28 to support the transition to clean energy. Abu Dhabi Fund for Development worked to support clean energy projects by financing an initiative worth US$350 million in cooperation with the International Renewable Energy Agency (IRENA) to finance energy projects in developing countries. Also, ADFD provided US$100 million to support two initiatives in the Pacific and Caribbean Islands, and a US$400 million initiative to support the Energy Transition Accelerator Financing (ETAF).END –

  • WEE Marketplace Secures USD 10 Million Investment From Dubai-Based Firm,

    WEE Marketplace Secures USD 10 Million Investment From Dubai-Based Firm,

    WEE Marketplace Secures USD 10 Million Investment From Dubai-Based Firm,

    Embarking on a New Era of Growth

    Dubai(News Desk):: WEE, the pioneering marketplace known for its fast product delivery across the UAE, announces a significant milestone: a USD 10 million infusion (comprising Equity  Credit Facilities) from SIG INVESTMENT, underscoring the confidence in WEEs vision and capabilities. This latest investment propels WEEs valuation to an impressive $40 million.
    Setting itself apart in the bustling UAE online marketplace, WEE has garnered acclaim for its unrivalled delivery services, reminiscent of the acclaimed American Target Plus model. Operating with an exclusive network of trusted partners, WEE empowers consumers in Dubai with the convenience of ordering goods, promising delivery within the hour, extending to next-day delivery for the rest of the Emirates.
    Under the adept leadership of Anastasia Kim, CEO and co-founder, along with the visionary guidance of co-founders Oleg Dashkevich and Sergey Kolikov, WEE Marketplace is poised for even greater heights.
    “The investment is set to enhance WEEs standing in the eCommerce sector within the UAE, enabling us to upgrade our logistics capabilities, expedite widespread growth,and fortify our team. Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting as well as highlighting live streamings. We will also introduce new services to the super appecosystem,” said Anastasia Kim, CEO and cofounder of WEE.
    With the infusion of $10 million from SIG INVESTMENT, WEE successfully concluded a pre-A round of investments, further fortified by an additional $2 million fromexisting shareholders. These investments underscore the immense potential of WEE, which, in just two years, has captivated audiences in the UAE and forged strategic alliances with local industry leaders.
    Having previously secured $6.5 million for expansion in the UAE, WEE remains steadfast in its mission to attract further investments to scale operations within the UAE and extend its footprint into the GCC region.
    Embracing a forward-thinking approach, WEE is poised to develop an expansive ecosystem around its super app, seamlessly integrating shopping, taxi services, payments, and more. Furthermore, WEE is actively exploring the possibility of an IPO in the MENA region, signalling its commitment to long-term sustainability and growth.
    “WEE has entered the UAE market recently, but has already been able to win over the audience and offer a unique fast delivery service in the selected time slots. The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” added Sami M. Al Mohammad, Group CEO of SIG INVESTMENTS.
    With the UAE eCommerce market projected to surge to $20 billion by 2027, and express delivery accounting for a significant share, WEE is well-positioned to capitalise on this burgeoning market. Leading categories such as cosmetics, pharmaceuticals, flowers, and food products are slated to drive substantial growth,further solidifying WEEs pivotal role in shaping the future of eCommerce in the region.-end-

  • BHM Capital receives Dubai Financial Market’s approval to practice the Price Stabilization Mechanism

    BHM Capital receives Dubai Financial Market’s approval to practice the Price Stabilization Mechanism

    BHM Capital receives Dubai Financial Market’s approval to practice the Price Stabilization Mechanism

    Dubai(News Desk)::BHM Capital, a leading financial institution in the United Arab Emirates, has announced its approval by the Dubai Financial Market to introduce and practice the price stabilization mechanism for newly listed stocks in the market. Whereas “Spinneys”, the retail chain will be the first company to benefit from this service upon listing in the market, following the offering of 25% of its shares for public subscription between April 23 and April 29.
    With this approval, companies that are newly or already listed on the market can appoint BHM Capital as their price stabilizer manager, which enables them to engage in price stabilization transactions, supporting the stock price in the market for a specified period starting from the date of trading it’s shares in the Dubai Financial Market and ending no later than 30 days from that date;, in accordance with market rules and regulations set by the Securities and Commodities Authority in the United Arab Emirates.
    Abdel Hadi Al Sa’di, the CEO of BHM Capital, stated: ”We are pleased to have been granted regulatory approval to introduce and implement the price stabilization mechanism for newly listed company stocks in the Dubai Financial Market, following the initial offering. This mechanism, which aligns with international standards, contributes to enhancing transparency by regulating the pricing of new offerings in terms of buying and selling, thereby reducing speculation, supporting the stability of these stock prices, and increasing market trading activity.”
    He added, We extend our gratitude to the management of the Dubai Financial Market for their contribution, that supports our ongoing development of our operational system, expanding the scope and level of services provided to institutions and individuals, in accordance with a strategic approach that meets the aspirations of investors and listed companies, with a clear and flexible vision that anticipates the future. We will continue our efforts to increase the efficiency and activity of financial markets and facilitate trading operations, while adhering to the highest standards of transparency and compliance with applicable laws and regulations.(-End-)

  • Core International Holdings Commits 5b AED to Transform UAEs Key Sectors

    Core International Holdings Commits 5b AED to Transform UAEs Key Sectors

    Core International Holdings Commits Five Billion Dirhams to Transform UAEs Key Sectors

    Every new investment contributes to building a more prosperous future aligning with the vision of ‘We the UAE 2031’(Theyab bin Tahnoon)

     

    Dubai(Press Release):: Core International Holdings, a prominent consortium, is set to inject an additional five billion dirhams into new projects across the United Arab Emirates through its subsidiary companies. This strategic move is aimed at fostering innovation and sustainability within
    key sectors and services, leveraging the countrys growing opportunities and unique offerings over the next five years.Led by Sheikh Theyab bin Tahnoon Al Nahyan, the Chairman of Core International Holdings, stated “The company is focused on enriching its portfolio in critical areas such as education, real estate, and financial management. Emphasizing the significance of high standards and long-term investments, the group is dedicated to benefiting investors,partners, and communities, aligning with the visionary outlook of We are the Emirates2031.
    Hany Sabry, the groups CEO, emphasized “The allocation of five billion dirhams reflects a significant dedication to enhancing the education and scientific publishing sector via its educational arm. The primary objective of this endeavor is to enhance educational programs at all levels within the UAE.”
    Sabry also expressed confidence in the potential for regional growth and the development of electronic scientific publishing, a dynamic industry generating an annual global revenue of $19 billion.
    Core International Holdings is actively strengthening its foothold in real estate through its subsidiary, Ara Real Estate Development Company, focusing on land acquisition, development, and project management to create self-sustained communities that cater to evolving customer needs. Furthermore, the group is eyeing expansion opportunities in the buoyant Saudi market, particularly in real estate ventures.
    Specializing in capital market investments, Core International Holdings leverages its investment division, Waqen Capital, to identify enduring opportunities within publicly traded companies that drive progress and innovation. Through thorough exploration of various investment prospects and potential collaborations, the company is committed to realizing sustainable and forward-looking growth aligned with its vision and strategic objectives.

    Dedicated to achieving milestones in sustainable investments, economic growth, and community development, Core International Holdings offers a diverse array of investment opportunities in key sectors like education, real estate, and financial asset management. Positioned at the forefront of the UAEs dynamic investment landscape, the consortiums innovative initiatives and strategic investments underscore its market leadership and commitment to driving progress and prosperity.-End-