Intersec’s landmark 25th edition opens next week in Dubai


DUBAI: Building on a solid 25-year legacy, Intersec 2024 will return to Dubai World Trade Centre (DWTC) from 16th-18th January, bringing together industry experts, government officials and exhibiting companies to discuss the latest developments in safety, security and fire protection.

The renowned international exhibition is held under the patronage of H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, and this year will host 1,000 exhibitors from 60 countries. The show theme for 2024 is ‘Innovating security for a quarter-century’.

Grant Tuchten, Portfolio Director at the Intersec organiser, Messe Frankfurt Middle East, said, ‘Intersec has established itself as a leading platform for innovation in the security industry over the past 25 years. The show’s value goes beyond just the exhibition floors, offering an extensive conference programme that addresses the latest trends, challenges, and advancements across various security sectors.’

Tuchten added, ‘We are delighted to host the largest-ever edition
for the silver jubilee and can report that 25 percent of exhibitors featured are new for this year.”

Intersec 2024 comprises five key pillars – Fire and Rescue, Commercial and Perimeter Security, Homeland Security and Policing, Safety and Health and Cyber Security. Each pillar is represented by corresponding UAE government bodies, highlighting the country’s commitment to these vital sectors.

The Fire and Rescue segment is supported by Dubai Civil Defence, while the Homeland Security and Policing pillar is backed by Dubai Police and the Security Industry Regulatory Authority (SIRA). Dubai Municipality has collaborated with Intersec 2024 on the Safety and Health section of the event, while the show’s Cyber Security feature is held in association with the Cyber Security Council and Dubai Electronic Security Centre (DESC).

Attendees can explore a series of conferences and workshops that are at the forefront of global security, safety and fire protection. The Security Leader’s Summit will feature a world-class
lineup of sessions and speakers, uncovering the topics and tactics to shape a safer, more secure world. Meanwhile, the Cyber Security Conference will discuss pressing concerns such as countering cyber-enabled terrorism and policing in the virtual realm.

Covering areas such as ‘Fire Safety in High-Rise and Complex Structures’ and ‘Innovations in Fire Prevention and Detection’, the Fire and Rescue Conference is a pivotal gathering point each year for global leaders in the fire and emergency services industries.

The Safety and Health Conference explores the latest trends in workplace safety and well-being. Other conferences include the SIRA Forum which fosters collaboration in the commercial security community, and the Thought Leadership Pavilion, hosted by Access Control Security Brief.

Other event features include the Attack Zone showcasing the capabilities and effectiveness of a range of security products. Supported by the UAE Cybersecurity Council, in{: Cyber} is a dedicated area for cybersecurity vendors
and technology experts, which includes a future defenders hack arena and a three-day comprehensive conference. Safety and Health exhibitors will also showcase their safety wear and equipment at the Safety Walk.

Meanwhile, the Intersec Awards 2024, to be held on 17th January, will recognise the leaders in fire, safety and security at a prestigious event at the Palazzo Versace Hotel. The Premium Club at Intersec meanwhile, offers the ultimate networking space, enabling buyers to connect with exhibitors.

Source: Emirates News Agency

Shanghai unveils 32 initiatives to boost equity investment growth


SHANGHAI: The Shanghai municipal government has recently unveiled a series of 32 initiatives to enhance the growth and advancement of the city’s equity investment sector, a new China Daily report revealed. The measures are intended to encourage increased early-stage investments in small technology firms, foster the development of long-term capital, and improve the avenues for exiting equity investments.

According to the new policies, there will be attempts to establish a science and technology guidance fund at the municipal level, to systematically expand venture capital and angel investment.

The municipal government aims to encourage the growth of long-term capital by facilitating collaborations between insurance companies and prominent equity investment institutions in Shanghai. This will enable the insurance companies to enhance their investments in crucial industries and advanced technologies. As per the recently introduced measures, eligible asset management firms affiliated with commercial banks can e
stablish subsidiaries in Shanghai to invest in unlisted businesses and equity investment funds in Lingang Special Area or the wider Yangtze River Delta region.

Zhou Xiaoquan, Director of the Shanghai Municipal Financial Regulatory Bureau, stated that the new measures aim to channel additional capital towards early investments in technology companies of smaller sizes. According to him, this will aid in establishing an investment atmosphere where the government takes the lead, encouraging more institutions to focus on long-term investments.

While promoting the development of secondary market funds, pilot programs under which stocks can be distributed for equity investment should also be conducted to expand the exit channels.

Favourable tax policies have also been introduced. Venture capital enterprises and angel investors that have directly invested in seed-stage and start-up technology-based enterprises in the form of equity investment for two years can deduct 70 percent of the investment amount from the ta
xable income.

By referring to the registration-based initial public offering mechanism and the filing mechanism for Chinese companies’ overseas listing, Shanghai-based equity investment fund managers are encouraged to list in overseas markets in the form of IPOs, mergers and acquisitions or restructuring, according to the new measures.

According to the statistics of the Asset Management Association of China, there were 1,843 private equity and venture capital managers registered in Shanghai as of the third quarter of 2023. They managed 8,865 fund products with the assets under management (AUM) reaching 2.3 trillion yuan ($320 billion). Among them, the venture capital of the AUM of Shanghai reached 615 billion yuan, ranking first in China.

Source: Emirates News Agency

FAB issues first Sukuk globally in 2024


ABU DHABI: First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779%.

This issuance marks the first Sukuk issued globally in 2024 and stands as the region’s first offering for the year. The final spread for the Sukuk was set at 85 basis points over US Treasuries, one of FAB’s lowest spreads on any USD public deal, demonstrating investor confidence in the bank’s strong creditworthiness.

Achieving objectives of diversity, the allocation sees 76% directed towards dedicated Islamic investors and 38% towards international counterparts. The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranationals, and banks.

Rula AlQadi, Group Treasurer at FAB, said, “We’re thrilled with this successful Sukuk issuance, the first of 2024 and a milestone for FAB. Securing our largest Sukuk in four years and the lowest five-year public issuance spread in two years demonstrates investor conf
idence in the UAE and FAB’s creditworthiness. We deeply appreciate their continued trust.”

This Sukuk issuance further strengthens the bank’s position as a leading Islamic finance provider and a trusted partner for investors worldwide.

FAB also acted as joint lead manager on this Sukuk issuance.

Source: Emirates News Agency

Borouge signs AED160 million supply agreement with NAFFCO


ABU DHABI: Borouge Plc today announced the signing of an AED160-million agreement with NAFFCO, a UAE-based manufacturer and supplier of fire protection systems, to supply NAFFCO’s local and regional infrastructure projects with Borouge’s innovative and sustainable polyethylene (PE100) materials.

Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge, said, ‘Our partnership with NAFFCO underscores how Borouge is leveraging its advanced polyolefin technology to enhance mega projects and support the UAE’s economic diversification and industrial growth.

The two-year agreement will supply NAFFCO with Borouge’s innovative polyethylene solutions to enable local and regional megaprojects. We are proud to be contributing to the nation’s economic landscape and demonstrating that locally manufactured products are synonymous with global excellence.”

Renowned for their corrosion and chemical resistance, pressure pipes made from PE100 can withstand extreme industrial conditions, ranging from high levels of impact
to abrasions and stress cracking. In addition, the pipes are notable for their long-term pressure resistance, making them some of the most efficient and dependable solutions in the market.

Ahmed Khalid Al Khatib, Group Managing Director of NAFFCO, said, ‘Partnering with Borouge allows us to enhance our offering to ever-growing markets such as the UAE. It is important to have a collaboration with a strong partner such as Borouge to cater to the needs of various infrastructure developments. NAFFCO’s commitment to innovation and sustainability, particularly in producing high-quality, ‘Made In UAE’ pipes, aligns with the mission of providing the best in fire safety. This collaboration underlines our commitment to leading the industry, driving innovation, and positioning the UAE at the forefront of fire safety

technology.’

Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region, including the Guggenheim Museum, the Riya
dh city project, Mohamed bin Zayed City, the Yas Island Development Project, the Dubai Hills Project, Heart of Europe, and Etihad Water and Electricity projects.

Source: Emirates News Agency

Gold gains $10 in spot trading


Gold prices rose during today’s trading, gaining about US$10 in spot trading.

As of 10:15 UAE time, the yellow metal increased by 0.49 percent or $9.98 to reach $2034.36 per ounce.

Gold futures for February 2024 rose by 0.52 percent or $10.4 to reach $2038.15 per ounce.

Source: Emirates News Agency