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RAK introduces world’s ‘first free zone’ for Metaverse companies

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Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, has issued laws to establish apparently the world’s first free zone dedicated to digital and virtual assets companies.

Established under Law No. 2 of 2023, the Ras Al Khaimah Digital Assets Oasis will be an independent governmental authority. The new law grants RAK Digital Assets Oasis financial, administrative, and legislative independence, allowing it to function as a purpose-built free zone to enable innovation in the virtual assets sector.

The setting up of DAO is in furtherance to Law No 1 of 2023, which outlines the establishment of the Department of the Future. The new department will play a pivotal role in promoting innovation and driving the Emirate’s economic development in the digital age, positioning Ras Al Khaimah as a leader in innovation and entrepreneurship in the digital and virtual assets sector.

Sheikh Saud said: “The Emirate of Ras Al Khaimah has been playing a leading role in national efforts to strengthen the UAE’s diversified, sustainable economy. With the nation’s focus on digitalisation and encouraging enterprises of the future, RAK Digital Assets Oasis will serve as the gateway for global digital and virtual assets companies to establish their operations and grow their business. Our commitment is to provide an inspiring, innovation-centric environment that helps realize bright ideas that have transformational impact on the world.

“The new free zone will further cement Ras Al Khaimah’s reputation as a destination of choice for next-generation business ventures and the economy of the future.”

To lead the initiative, Sheikh Mohammed Al Qasimi has been appointed chairman and Dr Sameer Al Ansari as the CEO. Sheikh Mohammed is the Chairman of RAK International Corporate Centre (RAK ICC) and a Board Member and Managing Director of RAKEZ, while Dr Al Ansari is the CEO of RAK ICC and a member of the Board of Directors of Marjan, Ras Al Khaimah’s flagship master developer.

Sheikh Mohammed Al Qasimi

The DAO will open for applications in the second quarter of 2023, becoming the only free zone in the world exclusively for digital and virtual asset companies that are innovating in new and emerging sectors, such as the metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses.

Sheikh Saud added: “Ras Al Khaimah’s unique combination of accessibility, agility, and liveability will foster responsible innovation and position the UAE at the forefront in driving the most successful disruptive tech transformations of the coming decades.

“We are focused on promoting entrepreneurship, including the digital and virtual assets sector, which thrives on innovation and speed. The new free zone will encourage young talent to implement their powerful ideas for the digital world, as well as drive global digital players to expand their footprint through our free zone, which will add incremental value to the economy by creating new jobs and promoting inward investment. RAK Digital Assets Oasis will be a key economic growth engine for Ras Al Khaimah and the wider region.”

 

For more information, please visit www.rakdao.com or follow them on Twitter at @RAK_DAO

Journalist for 25 years with leading publications in India and UAE such as The National, Mumbai Mirror, DNA, Indian Express and former Sports Editor of eIndia.com. Now managing editor of Headline.ae, part of MEMc (https://www.memc.co)

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Zimbabwe Partners with T Ten Global to Boost Business Opportunities

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The Government of Zimbabwe has entered into a strategic partnership with T Ten Global Sports to enhance the nation’s global profile and attract significant foreign investment. This initiative aligns with President Emmerson Mnangagwa’s vision of showcasing Zimbabwe as ‘Open for Business’ and leverages international platforms to highlight the country’s substantial economic potential.

With a viewership exceeding 500 million on television and OTT platforms, and a social media reach of 2.5 billion across 100 countries, T Ten’s cricket leagues offer Zimbabwe an unparalleled opportunity to promote its investment prospects. The partnership will officially be launched at the 2024 Abu Dhabi T10 in Abu Dhabi, positioning Zimbabwe as a premier destination for international business.

Speaking on the partnership, Zimbabwe President Emmerson Mnangagwa said“Zimbabwe is open for business, and this partnership with T Ten Global Sports is a testament to our commitment to engaging with the world. Through T Ten’s extensive reach, we will showcase Zimbabwe as a thriving hub for investment and innovation. This collaboration marks a significant step forward in building our nation’s global reputation and economic future.”

Under President Mnangagwa’s leadership, Zimbabwe has experienced notable economic growth. In 2023, Zimbabwe’s GDP was valued at $26.54 billion, reflecting a 4.5% growth rate from the previous year. The nation has also attracted significant investments across various sectors including the beverage industry, mining sector, real estate and infrastructure, renewable energy and agriculture modernization.

Varun Beverages, the bottling partner of PepsiCo, has invested over $40 million, creating employment opportunities and bolstering the manufacturing sector.  Zimbabwe is endowed with vast mineral resources, including lithium, platinum, gold, and diamonds. Investments from companies such as Zhejiang Huayou Cobalt and Prospect Resources are positioning Zimbabwe as a key player in the global green energy revolution.

UAE-based conglomerate Mulk International is developing the $500 million Zim Cyber City in Mount Hampden, Harare. This state-of-the-art mixed-use development is set to transform Zimbabwe’s real estate landscape, offering high-end residential and commercial spaces. Collaborations with international firms are underway to harness Zimbabwe’s abundant solar and hydropower resources, supporting sustainable energy solutions and reducing reliance on non-renewable sources. Partnerships with global agribusinesses have enhanced Zimbabwe’s agricultural output, ensuring food security and creating export opportunities.

Shaji Ul Mulk, Chairman of T Ten Global Sports further said“We are honored to partner with Zimbabwe to deliver this transformative vision. Through T Ten’s five global leagues, we will ensure that Zimbabwe’s message reaches key markets, connecting the nation with influential investors and creating new opportunities for growth and collaboration.”

There are numerous unparalleled opportunities for global investors in Zimbabwe across various sectors. The country is home to vast reserves of lithium, platinum, gold, nickel, and rare earth minerals, essential for the global renewable energy and technology industries. With a growing industrial base and favorable policies, Zimbabwe provides opportunities in food processing, automotive assembly, and consumer goods production.

Abundant sunshine and river systems make Zimbabwe ideal for large-scale solar and hydropower projects, attracting renewable energy investors globally. Rapid urbanization and modernization efforts create lucrative opportunities in construction, transport, and logistics.

Paul Tungwarara, Special Presidential Investment Advisor, UAE further said, “This partnership reflects Zimbabwe’s forward-looking strategy for international outreach. By leveraging T Ten’s global media presence, we will amplify the message that Zimbabwe is ready for business and global partnerships. It has been a privilege to contribute to this historic initiative.”

Through its collaboration with T Ten Global, Zimbabwe will gain exposure across the five cricket leagues’ (Abu Dhabi T10, US Masters T10, Lanka T10 Super League, African T10, Sri Lanka T10) influential markets. It allows the nation to engage audiences in the Middle East and Asia, and also target North America’s business leaders. The partnership further helps Zimbabwe in strengthening their presence in South Asia’s thriving markets and highlighting Zimbabwe’s leadership in Africa.

This partnership represents a bold step toward economic reform, global engagement, and solidifying Zimbabwe’s position as a premier investment destination.

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Schedule for Lanka T10 announced

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Jaffna Titans and Hambantota Bangla Tigers will lock horns with each other in the first match of the Lanka T10 Super League 2024.

11th November, 2024: The inaugural edition of the Lanka T10 Super League 2024 is all set to begin on 11th December, 2024 in Kandy and the cricket carnival will kickstart with the opening ceremony ahead of the first game between Jaffna Titans and Hambantota Bangla Tigers.

The competition will see six franchises, Jaffna Titans, Hambantota Banga Tigers, Colombo Jaguars, Nuwara Eliya Kings, Kandy Bolts and Team Galle Marvels up against each other in a round-robin format.

The Qualifiers and the Eliminator matches are scheduled to be played on 18th December, 2024. Team 1 will lock horns with Team 2 in Qualifier 1, Team 3 will face Team 4 in the Eliminator match while the Qualifier 2 will see the runner up of the Qualifier 1 play the Winner of Eliminator.

The title clash will be played between the Winner of Qualifier 1 and Winner of Qualifier 2 on 19th December, 2024 and will be followed by the closing ceremony.

Note to Editor:
The Lanka T10 Super League is an exhilarating 10-over cricket format, proudly organized and endorsed by Sri Lanka Cricket in collaboration with a consortium of industry leaders: T Ten Sports Management FZC (TSM), T Ten Global Sports FZE (TGS), and Innovative Production Group (IPG). Together, they are shaping the future of T10 cricket in Sri Lanka.

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Bollywood singer Vishal Mishra set to perform live at Coca-Cola Arena

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Bollywood’s award-winning playback singer and composer Vishal Mishra is all set to make his electrifying debut at Dubai’s iconic Coca-Cola Arena on November 22. Fans in the UAE are gearing up for an unforgettable evening as the maestro takes the stage to perform his chart-topping hits live for the first time in the city.

Renowned for his soulful voice and a discography brimming with heartfelt melodies, Vishal Mishra has left an indelible mark on the Indian music scene. From chartbusters like “Pehla Pyaar” and “Zihal e Miskin”  Vishal’s music has captured hearts worldwide. His signature blend of melody and emotion, combined with his ability to connect deeply with audiences, promises a concert that will be nothing short of magical.

Speaking about the upcoming concert, the 32-year-old star who rose to fame with the hit song “Kaise Hua” from Kabir Singh, shared his excitement: “Performing in Dubai is always like a dream, and I am thrilled to finally connect with my fans here at the Coca-Cola Arena. Music has the power to unite people, and I can’t wait to share this unforgettable experience with everyone. I promise it will be a night filled with love, energy, and pure magic.”

A Night to Remember:

The Coca-Cola Arena, one of Dubai’s premier entertainment venues, will set the stage for this extraordinary event. Known for its state-of-the-art acoustics and vibrant atmosphere, the arena will provide the perfect setting for Vishal Mishra to bring his music to life, offering fans a front-row seat to the essence of Bollywood’s musical brilliance.

Attendees can look forward to an intimate yet high-energy experience, as Vishal performs his Bollywood Chartbusters like “Pehle Bhi Main” from movie ‘Animal’, Oscar award winning “Nacho Nacho” from Movie RRR and fan favourites such as Zihal-e-miskin, Aaj Bhi and Manjha.

With fans across the region eagerly awaiting this event, tickets are already selling fast. Whether you’re a long-time admirer of Vishal’s music or only discovering his artistry for the first time, this concert promises a night to remember for all.

Event Details:
Date: 22nd November 2024
Venue: Coca-Cola Arena, Dubai
Tickets: https://dubai.platinumlist.net/event-tickets/94400/vishal-mishtra-live-in-coca-cola-arena-dubai

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