Wednesday , September 18 2019
Breaking News


Etihad Credit Insurance Partners With Dubai Exports To Strengthen The Overseas Expansion Plans Of Dubai-based Businesses


Dubai, UAE, : Etihad Credit Insurance (ECI), the UAE Federal Export Credit Company has signed a Memorandum of Understanding (MoU) with Dubai Export Development Corporation, the export promotion agency of Dubai to develop and promote trade linkages and investment opportunities for Dubai-based businesses in high growth markets. The MoU was signed by H.E. Engr. Saed Alawadi, CEO of Dubai Export ... Read More »

Abu Dhabi police prevent 18 people from entering UAE illegally


Abu Dhabi police officers were able to thwart the smuggling of 18 workers at the Khatam al Shakla border, which stands as a checkpoint between the Omani Al Buraimi governorate and the UAE city of Al Ain. In an attempt to illegally enter the UAE, the 18 men and women were stuffed into a hollowed-out truck bed. Law enforcement officials ... Read More »

Africa’s trade bloc is a massive opportunity for UAE businesses


Africa has long been a market of strategic importance to Dubai and the emirate serves as a gateway for African companies that are successfully leveraging the emirate to expand their global reach. Yet, infrastructure gaps, a lack of investor-friendly regulation and high tariffs have remained as barriers for Africa’s regional and international trade, limiting the continent’s economic potential. It is ... Read More »

Adihex reports Dh36m in sales thanks to relaxed regulations


This year’s edition was the biggest ever with 650 local and international companies taking part in the exhibition. Hunting weapons worth Dh36 million were sold at the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex) which ended on Saturday. The Abu Dhabi Police said on Sunday that a total of 2,673 hunting weapons, including shotguns, rifles and pistols for trap ... Read More »

Confectionery giant Mars takes 100% ownership of UAE business


Food giant Mars has become one of the first multinationals to take advantage of the UAE’s new foreign direct investment (FDI) laws offering foreign companies 100 per cent ownership of onshore companies by buying out its local partner. The company, which has had a presence in the UAE for 40 years, has bought all of the shares in its onshore ... Read More »

Mandviwalla for enhanced trade between Sri Lanka, Pakistan


ISLAMABAD: Deputy Chairman Senate Saleem Mandviwalla Thursday said that Pakistan and Sri Lanka need to make collective efforts to boost mutual trade relationship and search more avenues to increase trade and resolve the tariff issues. In a meeting with High Commissioner of Sri Lanka Noordeen Mohamed Shaheid at Parliament House, he proposed that the trade agreements should be converted from ... Read More »

UAE and Saudi Arabia to boost customer service at government departments


The UAE and Saudi Arabia have launched a major initiative to improve customer service at government departments in both countries. Over the next few days in Riyadh, scores of workers will learn about dealing with customer complaints, clear communication and foster a positive work environment. The five-day training camp — known as the UAE-Saudi capacity building programme — began in ... Read More »

UAE”s KIZAD inks deal with Indian plastic makers body


Abu Dhabi, Aug 22 Ahead of Prime Minister Narendra Modi”s visit to the UAE, Abu Dhabi Ports subsidiary Khalifa Industrial Zone Abu Dhabi (KIZAD) has signed a strategic agreement with the All India Plastics Manufacturers” Association (AIPMA) to support Indian polymer investors in expanding their geographic reach. The move also highlights KIZAD Polymers Park as a tailor-made manufacturing and distribution ... Read More »

Dubai may have to do without Bakewell tarts if UK ports ‘meltdown’ post-Brexit


An official document predicting a “three-month meltdown” at UK ports unable to cope with extra checks after Brexit, has been dismissed as scaremongering by Downing Street, while a senior retail executive Logistics Middle East spoke to said the impact to the Middle East will be mild. “We may have to go without Bakewell tarts and other uniquely British goods for ... Read More »

UAE’s IBC group plans to acquire 10,000 holiday homes in Dubai in $5bn deal


UAE-based investment company IBC Group intends to acquire 10,000 holiday homes in Dubai in a deal valued at $5bn (Dhs18bn), it announced on Wednesday. The company has contracted Berkshire Hathaway HomeServices Gulf Properties on an exclusive basis to play an advisory brokerage role to assist in identifying, acquiring and financing the properties. The properties to be acquired will be financed ... Read More »

Abu Dhabi can’t afford to keep Iran out of Dubai


Writing an article in Lobe Log on Thursday, Esfandiar Batmanghelidj, an Iran-West business diplomacy expert and Columbia University graduate, says new official moves are in the making to revive old business ties between the two Persian Gulf neighbors. The article reads: As the world teeters on the edge of another financial crisis, few places are being gripped by anxiety like ... Read More »

UAE private sector activity continues to rise


Dubai: The UAE’s non-oil private sector remained in growth territory at the start of the third quarter of the year, although there were signs of rates of expansion softening, according to the latest Purchasing Managers’ Index (PMI). The UAE PMI report published by IHS Markit showed the headline PMI for July was 55.1. The reading was down from 57.7 in ... Read More »

Ceylon Chamber announces Sri Lanka investment and business conclave 2019


The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, the Department of Commerce and the Sri Lanka Export Development Board will be organizing Sri Lanka Investment and Business Conclave 2019 ”, under the theme “Explore: ... Read More »

Regional focus: UAE port expansion


In preparation for the world Expo 2020 and the FIFA tournament in Qatar in 2022, RAK Ports in the UAE has ramped up capacity to accommodate shipments of material and cargo, and, in anticipation of more tourists coming to visit the emirates by water, built a cruise ship terminal. The ports in the emirate of Ras al Khaimah (RAK), located ... Read More »

UAE, China creating road map for a century of prosperity


The state visit to the People’s Republic of China by His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, accompanied by a considerable UAE delegation of government and businesses, from July 21 to 23, has advanced the relationship between our two countries in very real and practical ... Read More »

UAE’s oil giant to team up with Pertamina in LPG business


The United Arab Emirates’ (UAE’s) state-owned energy company Abu Dhabi National Oil Company (ADNOC) will team up with state-owned oil and gas company Pertamina to build liquefied petroleum gas (LPG) storage in Indonesia as part of the economic cooperation agreement signed during the visit of the UAE’s prince Syekh Mohammed bin Zayed Al Nahyan to Indonesia on Wednesday. Indonesia’s Ambassador ... Read More »

Dubai-China trade at AED 36 billion in 1Q 2019


Dubai-China bilateral trade hit Dh139 billion in 2018, and was valued at Dh36 billion over the first quarter of 2019, according to Dubai Customs. Notably, telecoms, phones, PCs, aluminium, gold, automobiles, and engines topped the list of most traded commodities between Dubai and China. In a statement released by Dubai Customs in conjunction with the milestone visit of His Highness ... Read More »

China leading trade partner of UAE: Al Mansouri


ABU DHABI: China is the UAE’s leading trade partner in terms of non-oil commodities, accounting for 9.7 per cent of its total non-oil trade in 2018, valued at over $43 billion, Sultan bin Saeed Al Mansouri, Minister of Economy, has said. In an interview with WAM on the occasion of the official visit of His Highness Sheikh Mohammed bin Zayed ... Read More »

Dubai Police seized 41,000 banned items from travellers


Dubai: Dubai Police confiscated around 41,000 prohibited items that travellers carried in their baggage last year, an official said on Wednesday. With the numbers of travellers increasing at Dubai International Airport, officials are urging people to arrive at the airport early to avoid delays and ease the movement of other travellers. Brigadier Mohammad Ahmad Bin Dylan, deputy director of Airports ... Read More »

Dubai Customs launches e-statistics system for better data to clients and decision makers


Dubai: Dubai Customs launched its new e-statistics system which has been developed in-house to keep abreast with the technological advancements in the UAE towards embracing the Fourth Industrial Revolution (4IR), in line with the directives and vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Ahmed Mahboob ... Read More »