World
UAE PM Unveils “Gold Card” Program to Boost Real Estate Sector
UAE Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum has launched a permanent residency scheme for expatriates to invite them to invest in property and permanently settle in the UAE. With the help of this scheme, UAE would attract wealthy professionals and businessmen to the Gulf nation.
UAE’s “Gold Card” scheme would be an excellent opportunity for Indian investors and professionals such as doctors, scientists, artists as well as students to buy property in United Arab Emirates. Many business leaders would get benefitted due to their property investment in the Gulf nation as it would offer them an innovative, safe, and productive environment to run their business. UAE has launched this scheme by taking into consideration the economic diversification and its sustainable development goals.
With the introduction of this new scheme by UAE, it will be possible to give a boost to its property market. The country has been looking to expand its property market with the introduction of five-year retirement visas, and long term visa plans for the visitors. Most of the expats come to the UAE with the aim of making money and have a short-term plan to stay in the Gulf nation. Now, with the “Gold Card” scheme, people would look for permanent residency in the UAE.
It will be interesting to see how the Indians would react to this “Gold Card” scheme by the UAE. Since there are many good property investment options with excellent housing facilities in different regions of India, such as Dlf the crest Gurgaon and Dlf magnolias Gurgaon, it will be a tough choice for Indians to permanently settle in UAE.
World
Turkish Textile Giant Sun Textile Solution Proposal for Drought
While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.
Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.
The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.
CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!
In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.
The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.
R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!
Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.
OFFERING CUSTOM DESIGNS TO CUSTOMERS
Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe.
With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.
Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.
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