NWTN signs MOU with Elfaba Investment

DUBAI: NWTN Inc. (Nasdaq: NWTN), an eco-conscious mobility technology company bringing passenger-centric green premium mobility solutions to the world ("NWTN"), today announced that it signed a memorandum of understanding with Elfaba Investment and Advisory ("Elfaba") for the sales and purchase of products of NWTN and Rabdan brands across more than seven countries.The MOU stipulates that NWTN will authorize Elfaba as the NWTN and Rabdan brand distributor for a period of five years, enabling the sale of NWTN and Rabdan vehicles, parts, and accessories together with the provision of after sales services. The MOU also stipulates that Elfaba will aim for sales of up to 5,000 vehicles. A definitive agreement is targeted to be signed by the end of April 2023.Rabdan is a NWTN brand of intelligent new energy vehicles and encompasses a full range of intelligent new energy passenger vehicle products from extended range to pure electric technology solutions.Rabdan products will integrate the most advanced technologies and resources in the global new energy vehicle industry as well as surpass traditional fuel vehicle products in many aspects, from driving experience and intelligent comfort to energy saving and emissions reduction. It aims to define a new category of traveling and lifestyle.The MOU between NWTN and Elfaba was signed at the NWTN Suhoor Gathering which was held in celebration of the Holy month of Ramadan. The Suhoor Gathering was held at the NWTN's assembly facility in the Khalifa Economic Zone Abu Dhabi (KEZAD) which was completed at the end of 2022. The facility enables NWTN to address the rapidly growing demand for electric vehicles in the UAE and the Middle East, promote green mobility, and accelerate sustainable energy transformation in the UAE.Guests mingled and enjoyed traditional Suhoor dishes and were offered an exclusive preview of the Rabdan brand's first vehicle – the Rabdan ONE.The Rabdan ONE is a dynamic, intelligent, and comfortable, all-wheel-drive SUV that adopts the world's leading range extension technology. The Rabdan ONE is suitable for a variety of uses from business, family, leisure, adventure, work to pleasure. The Rabdan One is designed to be a powerful intelligent car leading a new fashion lifestyle.

Citi appoints Shamsa Al-Falasi as CEO of Citibank, N.A. UAE Onshore branch

Dubai: Citi announced the appointment of Shamsa Al-Falasi as Chief Executive Officer of Citibank, N.A. UAE Onshore Branch, in the United Arab Emirates (UAE), subject to regulatory approvals. Shamsa will also assume the role of the Chief Administrative Officer (CAO) UAE across all Citi entities operating onshore & offshore in the country.Al-Falasi is a seasoned banker with almost two decades of experience at Citi. She joined the bank as a graduate in 2004 and has since worked across many geographies including Dublin, London and Sao Paulo, before being appointed as Senior Business and Relationship Manager for the MENA and Turkey region based in the UAE.In 2015, Al-Falasi was appointed as Head of the Global Subsidiaries Group (GSG) for the UAE and Iraq, a role that was expanded in 2018 to include regional responsibilities as Head of GSG in GCC and Iraq based in the UAE. Since the beginning of 2023, Shamsa has served as interim Citi Country Officer (CCO) and interim CEO of Citibank, N.A. UAE Onshore Branch. She will continue to serve as Interim CCO until a permanent appointment is made.Commenting on her new role, Shamsa said: "I am delighted to have the opportunity to be the first Emirati woman to lead Citi’s UAE onshore businesses and operations and contribute to the overall franchise performance. We have a seasoned team in the country, and together we will continue to provide the highest standards of products and services to our clients."Ebru Pakcan, CEO of Citi’s Middle East and Africa Cluster said: "This is a landmark appointment which testifies to Shamsa’s talent and leadership skills. Citi UAE is the bank flagship franchise in the Middle East and Africa region offering a full spectrum of institutional banking and wealth management services, and with Shamsa’s elevation, I am sure the franchise will continue on a trajectory of growth and success.”The UAE serves as the regional hub for Citi’s Middle East & Africa Cluster covering 59 markets. Citi UAE offers a full spectrum of financial services including Corporate & Investment Banking, Capital Markets, Sales & Trading, Transactions Services, Private Banking and Commercial Banking. In addition, it serves as one of Citi’s four global Wealth Management centers and continues to be a major player in local consumer credit services.

8th cohort of Dubai Business associates programme kicks off

Dubai Business Associates (DBA), a world-class graduate management programme run under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has welcomed its eighth and highly diverse cohort to Dubai, with 30 graduates from 17 countries embarking on a transformative nine-month journey.The 30 graduates from Austria, Brazil, China, Ethiopia, India, Kazakhstan, Morocco, Nigeria, Russia, South Korea, Sri Lanka, Syria, the UAE, the UK, the USA, Uzbekistan, and Vietnam were selected from over 2,300 applicants and will be immersed in the fully-funded programme which employs an experiential and project-based learning approach. Drawing on hard and soft skills, the Programme helps propel careers and future preparedness through comprehensive training on strategy, business, and leadership coupled with a multidimensional curriculum delivered in collaboration with the DBA’s learning partners; PwC’s Academy Middle East, CAPADEV and Bon Education.The Programme concludes in June 2023 with the delivery of a consulting project that addresses a real-life business challenge to several placement partners including Dnata, Dubai Department of Economy and Tourism (DET), Dubai Holding, Dubai International Financial Centre (DIFC), DP World, Emirates, Jumeirah and the Museum of the Future.James Maughan, Director, Dubai Business Associates Programme said: ‘‘Dubai has proven itself as a global talent and innovation hub over the years. In a post pandemic world, the emirate is continuously propelling towards the future by attracting and developing talent from all corners of the globe. The Programme exemplifies this with a strong network that includes 200+ alumni in 50 cities and major business hubs, including Dubai. This year we are excited to be working with 30 of the best and brightest minds on ground-breaking projects with our longstanding partners. We are also thrilled to welcome three Emirati graduates who, for the first time, will be attending the full duration of the programme as secondees from across the public and private sector, continuing to support Dubai’s future competitiveness while propelling the graduates’ career trajectories and personal development.’’Christian Kunz, Head of Group Strategy, and Innovation at DIFC added: ‘‘DIFC is excited to collaborate with this year’s Dubai Business Associates Programme cohort as in all previous editions building on its nine years of experience in skills and talent development. The Programme represents a win-win for all partners and stakeholders involved, with associates applying their collective experiences and training on unpacking organisational challenges and creating sustainable value. It is also an extension of Dubai and His Highness Sheikh Mohammed’s commitment to foster innovation and develop youth skills and capabilities in a highly dynamic and diverse environment.’’The Dubai Business Associates Programme officially kicked off at an opening ceremony held at ICD Brookfield Place earlier today, which was attended by key partners and senior executives from across Dubai and the UAE, including the Al Jalila Foundation, the Emirates Literature Foundation and FlyDubai.