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DMCC signs strategic MoU with aqua-index to support first water-backed digital token
DUBAI, Jun 17 (WAM/APP): DMCC, the leading international business district that drives the flow of global trade through Dubai, has signed a Memorandum of Understanding with AQUA-INDEX, a global pioneer in water commodities trading.
This landmark collaboration supports AQUA-INDEX’s initiative to launch the world’s first digital asset token backed directly by freshwater resources, revolutionising how water is traded, valued, and managed globally.
The token – the first of its kind globally – is backed by verified, drinking-quality water stored in global reservoirs and will enable investors, hedgers, traders and the general public to trade, hold and take delivery of fresh water as a commodity. By combining financial innovation with water market expertise, the partnership offers a practical mechanism for unlocking new liquidity and transparency in global water supply chains.
Under the partnership, AQUA-INDEX will benefit from DMCC’s extensive global network, world-class services, advanced infrastructure, and leading commodity marketplace, facilitating the effective trading and investment in water assets. AQUA-INDEX will enhance the availability and exchange of knowledge around global water usage and pricing and provide access to essential trading and hedging products for DMCC and its member companies. DMCC will not directly own or manage the token itself.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “Nearly half the global population experiences water scarcity for at least part of the year, yet water remains the only critical resource without a mature, regulated market. We are proud to partner with AQUA-INDEX to drive a transparent, neutral, and legally coherent structure and marketplace for water to secure the future of a resource that has long been undervalued.
This is the next clear milestone in the formation of DMCC Water Centre, where we will not only bring the conversation of water to the forefront, but also attract the sector’s leading companies to create a global centre in Dubai for water innovation, security, sustainable best practice, knowledge and education, while ensuring that the world’s most transported commodity has the ability to reach water distressed areas.”
Yaacov Shirazi, Chairman and Founder of AQUA INDEX, said, “Pricing water by the value of its usage, standardisation of water by its mineral content and quality, and turning water to a new asset class for a financial trading, is a gamechanger in the world economy. It will establish new levels of water management which prevents scarcity, contamination, and lack of access.”
The announcement forms part of DMCC’s ongoing efforts to establish the DMCC Water Centre, a dedicated ecosystem for the global water industry that positions Dubai as a central, neutral hub for water trading and innovation. The Water Centre brings together WaterTech innovators, logistics providers and commodity traders under one platform.
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Noor, Nasir start their Asian Individual C’ships campaign with impressive wins
ISLAMABAD, Jun 17 (APP): Talented Pakistani players, Noor Zaman and Nasir Iqbal, kicked off their campaign at the 23rd Asian Individual Championships in Sarawak, Malaysia, with impressive wins.
Noor Zaman dominated Aaron-Jon Widjaja Liang of Singapore, while Nasir Iqbal outclassed Jaejin Yoo of Korea, said a press release.
Both matches were won quite easily, showcasing the skill and determination of our players!
Nasir Iqbal beat Jaejin Yoo (Korea) by 3-0 (11-5, 11-2, 11-4) while Noor Zaman defeated Aaron-Jon Widjaja Liang (Singapore) by 3-1 (11-7, 6-11, 11-6, 11-3).
Both the players will face their Round 3 matches on Wednesday.
JCSC General Sahir Shamshad Mirza confers civil awards to 47 scientists, engineers
RAWALPINDI, Jun 17 (APP): General Sahir Shamshad Mirza, NI (M), Deputy Chairman Development Control Committee and Chairman Joint Chiefs of Staff Committee (CJCSC), on Tuesday conferred civil awards on 47 eminent scientists and engineers, serving under the National Command Authority for their meritorious services.
According to Inter-Services Public Relations (ISPR), the investiture ceremony, held at Chaklala Garrison, Rawalpindi, was conducted on behalf of the President of the Islamic Republic of Pakistan.
Among the recipients, 10 officers were awarded Sitara-i-Imtiaz, 21 received the President’s Award for Pride of Performance, and 16 were honored with Tamgha-i-Imtiaz.
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UAE President, Iraqi Prime Minister discuss bilateral ties, regional developments
ABU DHABI, Jun 17 (WAM/APP): UAE President Sheikh Mohamed bin Zayed Al Nahyan spoke by telephone with His Excellency Mohammed Shia’ Al Sudani, Prime Minister of the Republic of Iraq, to review bilateral relations and opportunities to strengthen cooperation, as well as the latest situation in the Middle East.
The two sides discussed recent developments in the region and the ongoing risk posed to security and stability. Sheikh Mohamed bin Zayed and the Iraqi Prime Minister underscored the importance of de-escalation, restraint, and the resolution of conflicts through diplomatic means, in the interest of the region and its peoples.