logo
Sheikh Hamdan tours Dubai Diamond Exchange

Sheikh Hamdan tours Dubai Diamond Exchange

The National02-06-2025
, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, visited Dubai Diamond Exchange on Monday.
Sheikh Hamdan made the visit as part of a tour of Dubai Multi-Commodities Centre, which hosts the exchange that recently reached the milestone of trading more than one billion carats of rough and polished diamonds over the past five years, the emirate's media office reported.
'The visit provided the opportunity to see first-hand how DMCC continues to play a central role in driving global trade and investment flows to Dubai, positioning the emirate as a world-class business hub,' said Sheikh Hamdan.
'As we advance our economic diversification journey under the Dubai Economic Agenda D33, DMCC is leading the way in building high-performance, globally connected ecosystems that attract innovation, talent and capital across priority sectors.'
Sheikh Hamdan visited the Dubai Diamond Exchange's tender floors, where he was informed about the trade practices in place for rough and polished diamonds, coloured gemstones and lab-grown stones, the media office added.
He also received updates on DMCC's diamond ecosystem, including the expansion of the Gemological Institute of America into DMCC's new district, Uptown Dubai.
Along with the visit DMCC unveiled its Strategy 2033, which places specialised industry ecosystems at the heart of its growth for the coming decade. These sectors include hubs in diamonds, gold and energy, as well as platforms for AI, Web3, blockchain and gaming.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Money & Me: ‘Starting a company helped me attain financial independence'
Money & Me: ‘Starting a company helped me attain financial independence'

The National

time3 hours ago

  • The National

Money & Me: ‘Starting a company helped me attain financial independence'

Deepika Nahata became an entrepreneur when she identified a pain point for many working households: doing the laundry. Partnering with a close relative, she launched WashOn Laundry as a family business in Dubai just before the Covid-19 pandemic. The company caters to individuals and businesses such as hotels, salons and gyms, and offers additional services such as shoe cleaning, bag restoration, cleaning of carpets, curtains and sofas. She credits running the business for five years with giving her financial independence and more autonomy in taking decisions on money matters. 'We initially thought we had taken the wrong decision, but consistency and attention to customers' requirements are the only secret to success,' says Ms Nahata, 36, who is from the north-eastern Indian state of Assam. WashOn, which is based in Dubai Investment Park, has now grown to 100 employees. Ms Nahata has been living in Dubai for the past 10 years and currently lives in Murooj Al Furjan with her husband, who is a software engineer, two sons aged 10 and 2, and her in-laws. She is a commerce graduate and holds a chartered accountant internship. Did wealth feature in your childhood? What did you learn from it? I was raised as a saver. Whenever I asked for pocket money, my mother would advise me to separate my needs from my wants. I didn't realise it then, but that simple lesson has changed the way I think about money. The habit of saving has helped me tide over emergencies. Saving and reinvesting our profits back into the laundry business have helped us to enhance our way of working by updating equipment and expanding our service offering. I only choose to spend on things that add value and offer me something in return. How did you first earn? The first income I earned was for my CA internship, making 5,000 Indian rupees ($57.8) per month in 2012. Following the internship, my employer shifted me to a full-time role on a monthly pay of 20,000 rupees. Any early financial jolts? I remember one time when I had started working in India and my parents travelled out of town. The washing machine in my house broke down and I had no money to pay the technician. I had to borrow money from my neighbour. That was a wake-up call because I had no savings and was spending all my income going out with friends. How do you grow your wealth? Through reinvesting profits back into my business. I am a smart spender and only invest in things that add value. I don't spend lavishly on parties or luxuries, instead I'm focused on doing things that add value to my working life. Have you been wise with money? Yes, it's been five years since we founded WashOn. The time, care and effort we have put into growing it are paying us back, not just in terms of revenue but also in terms of the experience and lessons from running the business. What has been your best investment? Building our business. We started the venture from scratch. But now we are able to provide employment to 100 people and sustain their livelihoods. That gives us pride and joy. Any cherished purchases? Only the new equipment that we have purchased to improve efficiencies and add value to our laundry business. Any financial advice for your younger self? Don't wait to be financially ready. Whenever you feel like starting a business or doing something on your own, start small but at least make a start. When my co-founder and I decided to start the business, we had a lot of doubts, but we didn't want to be financially dependent on someone else. There were many financial challenges as well and the prospect of taking risk. I am quite risk averse. But we decided to take the plunge. As it's a family business and we didn't want to take on loans, we tapped into family savings. We started with five to six employees and today we have more than 100 workers and there's been a huge increase in our business revenue. Any key financial milestones? Running the business has helped us gain financial independence and also given us decision-making powers. Earlier, we had to take our husbands' consent on important financial matters. Now, my co-founder and I are financially savvy and take crucial decisions ourselves. What luxuries are important to you? Spending quality time with family. What are your financial goals? I want to grow WashOn to a level where we can provide our services all over the UAE. Currently, we are focused on Dubai only.

ADFD attends opening of Jordan Digital Health Centre
ADFD attends opening of Jordan Digital Health Centre

Gulf Today

time3 hours ago

  • Gulf Today

ADFD attends opening of Jordan Digital Health Centre

In the presence of His Royal Highness Prince Al Hussein Bin Abdullah II, Crown Prince of the Hashemite Kingdom of Jordan, Abu Dhabi Fund for Development (ADFD), represented by Mohammed Saif Al Suwaidi, Director General, participated in the official inauguration of the Jordan Digital Health Centre, a pioneering virtual hospital initiative. This initiative is part of the UAE's broader grant, managed by ADFD, to enhance development projects aligned with Jordan's Economic Modernisation Vision 2023-2025, with a total funding of Dhs1.5 billion. These projects further contribute to Jordan's National Council for Future Technology agenda and reinforce the UAE's ongoing commitment to driving strategic development partnerships in the region. The Jordan Digital Health Centre aims to connect healthcare centres and create an integrated electronic medical records management system through a unified digital platform, to enhance Jordan's healthcare sector in delivering remote care services aligned with international standards. Executed through the support of UAE-based company 'Presight,' a leader in advanced technology and AI-driven digital solutions, in collaboration with Jordan's Ministry of Digital Economy and Entrepreneurship, this centre marks a strategic milestone in enhancing Jordan's digital health infrastructure. During the ceremony, Prince Al Hussein extended his appreciation to the UAE's leadership, President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. He emphasised that this initiative underscores the enduring strategic ties between the two nations and their commitment to advancing sustainable development and economic integration across key sectors. He also praised ADFD's key role in supporting transformative development initiatives, as the Jordan Digital Health Centre serves as a model of cross-border institutional collaboration. WAM

'Majlis': Arabic word for sitting room is rooted in the traditions of the Gulf
'Majlis': Arabic word for sitting room is rooted in the traditions of the Gulf

The National

time3 hours ago

  • The National

'Majlis': Arabic word for sitting room is rooted in the traditions of the Gulf

While it refers to a sitting room, the majlis is about much more than furniture and floor plans. Stemming from the trilateral letters jeem, lam and seen, and derived from jalasa (to sit), our Arabic word of the week literally means 'a place of sitting'. Over time, the physical form of the majlis changed, but the core function remained: a space to gather, discuss, reflect, seal bonds and even heal wounds. One of the earliest uses of the term can be found among the Bedouin, where the majlis served as the beating heart of each community. It was a space where poetry was recited, grievances heard and disputes resolved. The tribal elder would preside over the gathering, with family members extending hospitality and welcoming those who came seeking guidance, judgment or social connection. With urbanisation, the majlis evolved in form but not in function. In Gulf homes today, it remains a central feature – a formal sitting room typically reserved for receiving visitors, often gender-segregated, and designed for both comfort and ceremony. Typically adorned with a thick carpet and low cushions, the space is furnished with ornate coffee pots, incense burners and dates set aside specifically for guests. In addition to private homes, there are also communal majalis (the plural of majlis) that serve as local gathering spaces for weddings, condolences and community meetings. Many are named after the suburbs they serve, such as Majlis Al Bateen or Majlis Baniyas. The term is backed by some institutional weightage: the UAE's Federal National Council, a consultative parliamentary body, is commonly referred to as Al Majlis, while Saudi Arabia's Majlis ash-Shura serves a similar advisory function. These bodies reflect the original spirit of the majlis as a site of counsel and collective decision-making. The majlis has also made its way into local television, often serving as the setting for talk shows. On Qatar's sports broadcasting network Al Kass, for example, football pundits sometimes hold post-match discussions in a studio styled as a majlis. But as vibrant as the exchanges on offer, the majlis is also a space for listening. Arabic hospitality is known for its unhurried pace, in part because it places value on attentiveness and presence. Events are rarely rushed, and occasions and gatherings are often advertised not by exact time, but from one prayer time to the next. The purpose is to provide a calm atmosphere that encourages perspective. This is perhaps why the majlis is inscribed by Unesco as part of the intangible cultural heritage of the Arab world. Its purpose serves as a reminder that a cohesive society is built on dialogue that fosters connection and tolerance.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store