Business

France will introduce a new charge on plane tickets from next year, with revenue used to fund environment-friendly alternatives, a top French official said on Tuesday. The ‘eco-tax’ costing between 1.50 euros (US$1.7) and 18 euros (US$20) will apply to most flights departing in France, Associated Press, AP, quoted French …

South African President Cyril Ramaphosa said the coming into effect of the Africa Continental Free Trade Area Agreement (AfCFTA) was a milestone that fulfilled a dream crafted by the founders of the Organisation of African Union 60 years ago when they mulled an integrated continent, African News Agency, ANA, reported …

Ways of accelerating mutual cooperation were the main topic of discussions at a meeting Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, had with Trinh Dinh Dung, Deputy Prime Minister of Vietnam, and his accompanying delegation, recently. During the meeting, Al Mazrouei emphasised the strength of …

At a meeting on development of Uzbekistan’s automotive industry on July 8, President of Uzbekistan Shavkat Mirziyoyev ordered the country’s automobile manufacturing company to increase annual production from the current 250 thousand to 350 thousand cars by 2023, and to increase the export to at least 100 thousand cars per …

The Abu Dhabi Securities Exchange, ADX, recently met with an executive delegation from Morgan Stanley to discuss how to develop business relations between both entities. Khalifa Salem Al Mansouri, Acting Chief Executive of the ADX, said, “This was a valuable introduction for the ADX. Developing business relations with such a …

The Abu Dhabi Chamber of Commerce and Industry and the Costa Rica Embassy in the UAE discussed available mutual economic and investment opportunities in Abu Dhabi and Costa Rica, in the presence of Mohammed Hilal Al Muhairi, Director-General of the Chamber. Their discussion took place during a meeting between Mohammed …

President Vladimir Putin of Russia will speak at the Plenary Session of the second Global Manufacturing and Industrialisation Summit, GMIS, a join initiative by the UAE Ministry of Energy and Industry and the United Nations Industrial Development Organisation, UNIDO, which will take place from 9th to 11th July 2019 in …

Public and private sector players attending the Czech-UAE Business Forum 2019 in Prague called for businesses in the two countries to explore new partnership opportunities in key sectors of mutual interest such as smart city solutions, manufacturing, logistics, healthcare, tourism and artificial intelligence, which can support the strategic vision of …

Dubai Customs has explored means to enhance cooperation with Saudi Arabia during a meeting between Director-General of the department Ahmed Mahboob Musabih and Abdul Hadi Mohammed Al-Shafi, the Saudi Consul-General in Dubai. The two discussed means of boosting cooperation between Saudi Arabia and Dubai especially in bilateral trade and customs …

Etihad Credit Insurance, ECI, has signed a Memorandum of Understanding, MoU, with the Corporate Banking division of Emirates NBD to empower the UAE-based firms in strengthening their presence regionally and internationally by providing them access to ECI’s trade credit insurance solutions and Emirates NBD Corporate Banking’s customised products. This cooperation …

The Electricity Tariff Incentive Programme, ETIP, which was launched in line with the Abu Dhabi Development Accelerators Programme, “Ghadan 21”, is expected to contribute to the increase in capital of companies, which will enable them to further develop their industrial products, enhance their business value, and improve their competitiveness across …

Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry, headed the UAE delegation participating in the joint meeting of the UAE-Indonesia Economic Work Team, held in the Indonesian capital, Jakarta. During the meeting, the delegation discussed strengthening the bilateral relations between the two countries, along with …

Saudi Arabia’s flyadeal will not proceed with a provisional order for 30 Boeing 737 MAX jets, the U.S. planemaker said on Sunday after the airline announced it would operate an all Airbus A320 fleet. Flyadeal began reconsidering a commitment to order the Boeing jets after two MAX aircraft crashed in …

The Emirates Red Crescent, ERC, has re-opened a fishing slipway in in Bab al-Mandab District of Dhubab Governorate, after completing the rehabilitation and refitting operations. The ERC Representative on the Red Sea Coast, said the UAE-funded facility, part of a UAE plan to establish and rehabilitate 24 fishing slipways, would …

A delegation from the Ministry of Economy, led by Abdullah bin Ahmed Al Saleh, Under-Secretary for Foreign Trade Affairs at the Ministry of Economy, visited the Innovation Centre of Borouge in Abu Dhabi. The delegation was introduced to the latest practices and technologies used at the Borouge Innovation Centre to …

Eastern Libyan authorities and U.S. security firm Guidry Group plan to finalize an agreement to develop a major port in the east of the troubled oil producer, both sides said. Talks have been going on for about a year to build a port in Susah, which would mark a rare …

The Rail Agency of the Roads and Transport Authority, RTA, briefed Liam Fox, Britain’s Secretary of State for International Trade, about the operation and maintenance of Dubai Metro. The briefing was made during a recent visit of the British minister to the Metro Operations Control Centre, OCC, at the Rashidiya …

The Federal Authority for Identity and Citizenship, ICA, has launched ‘SIM 24’ initiative offering free SIM cards to all tourists upon their arrival in the UAE. These SIM cards include free minutes and data, and will enable visitors to communicate with their families after arriving in the UAE, the ICA said …

Exhibitions are a powerful way to showcase your brand and the products/services you offer. But you must make sure that the system you choose works for your business. Not only will the wrong exhibition display fail to attract visitors, but it can also jeopardize your hard-earned brand reputation and become …

Arabian Business magazine has named Dr. Aisha bint Butti bin Bishr, Director-General of Smart Dubai, one of the world’s most influential Arabs for 2019 – a list that included high-profile Arab leaders in government, finance, and business. Dr. Aisha bint Butti was recognised for her leading role in the smart …

Etihad Airways, the national airline of the United Arab Emirates, has celebrated the deployment of the Boeing 787-10 Dreamliner on its daily scheduled services to Shanghai by hosting an ‘Abu Dhabi Night’ reception, at the Bellagio Shanghai. The event was attended by leading figures from the UAE and local government …

White House senior adviser Jared Kushner said on Wednesday that U.S. President Donald Trump is fond of Palestinian President Mahmoud Abbas and willing to engage with him, but Abbas was cool to the gesture. In a conference call with reporters, Kushner said, “Our door is always open” to the Palestinians. …

The Dubai Electricity and Water Authority, DEWA, has organised the second France-DEWA Business Forum, in collaboration with the French Business Council in Dubai and the Northern Regions and Business France, to strengthen cooperation with French institutions and companies. The theme of the conference was ‘Future of Energy and Innovation’. Saeed …

The Executive Council of Abu Dhabi has issued a resolution defining the companies and development entities under Abu Dhabi Developmental Holding Company PJSC (ADDHC). In accordance with Law No. 2 of 2018 that established ADDHC, the ownership of the Abu Dhabi Government’s shares in the following companies has been transferred …

Experts and thought leaders have mulled over the potential of new technologies, such as augmented reality and artificial intelligence, and how they will be best achieved by engaging and educating people on capabilities and collaborating to ensure their use for global good, during the latest Expo 2020 Dubai’s World Majlis …

As part of its participation at the World Economic Forum, WEF, held in Dalian, China, the UAE Government signed on WEF’s Closing the Skills Gap 2020 programme to lead the upscaling efforts in the UAE and the region to equip the future workforce with the necessary skills for the Fourth …

When Uzbek President Shavkat Mirziyoyev came to power, his posture toward Afghanistan was significantly different than that of his predecessor. Instead of shielding Uzbekistan from Afghanistan and viewing the country primarily as a center of instability, Mirziyoyev enthusiastically embraced Afghanistan as an economic and security partner Uzbek President Shavkat Mirziyoyev, …

Roads and Transport Authority, RTA, has made several Corporate Social Responsibility, CSR, achievements where it won the Dubai Chamber CSR Label, rendering it the first government entity to win this award for the third year running. RTA also obtained the ISO 26000 Social Responsibility Certificate, and its new corporate identity …

The Dubai Land Department, DLD, announced the launch of the Real Estate Investment Opportunities, REIOs, initiative during a press conference held yesterday. The newly-launched project was adopted as a catalyst for Dubai’s real estate sector based on the outcomes of the Innovation Lab 2018. A law is currently being drafted …

The United Arab Emirates will allow up to 100% foreign ownership of some companies operating in 13 sectors, including manufacturing, agriculture, and renewable energy, state news agency WAM reported on Tuesday. The UAE cabinet has approved 122 economic activities across 13 sectors eligible for up to 100% foreign ownership, WAM …

In May 2019, Tashkent introduced a trade area between Afghanistan and Uzbekistan that will operate on the Afghan-Uzbekistan frontier at the Termez Cargo Center terminal. The trade area promises speedy processing of documentation from and to Afghanistan for products. This unprecedented move towards closer trade ties between Tashkent and Kabul …

Hub71 today announced that Aldar Properties, the Department of Health, DoH, and the Abu Dhabi Global Market, ADGM, have come together as partners for its MENA Growth Competition, powered by the MIT Enterprise Forum Pan Arab. Hub71 is an initiative of the Ghadan 21 programme and global tech ecosystem in …

The Sharjah Chamber of Commerce and Industry, SCCI, has called on businessmen and investors in Sharjah to take advantage of the mutual investment opportunities with the business community in France, so as to open new horizons of partnerships and develop the long-standing economic, trade and cultural relations between the UAE …

Abu Dhabi Ports and the Mauritius Ports Authority, MPA, have signed a Memorandum of Understanding, MoU, to pool their combined expertise to enhance the maritime sector across the Indian Ocean, from port infrastructure and security to protecting the environment and driving the cruise industry. The MoU was signed by Captain …

The OPEC Fund for International Development, OFID, and Ameriabank have signed a US$25 million loan agreement aimed at supporting trade flows to and from Armenia. Cooperation between OFID and Ameriabank dates back to 2015. The first facility supported Small- and Medium-sized Enterprises, SMEs, in Armenia across a diverse range of …

The UAE Ministry of Energy and Industry and the United Nations Industrial Development Organisation, UNIDO, has called on global leaders from government, industry and academia to participate at the second edition of the Global Manufacturing and Industrialisation Summit, GMIS, taking place from 9th to 11th July in the Russian city …

The Dubai International Financial Centre, DIFC, is set to make structuring and financing faster, economical, and more flexible. Under a newly introduced regime, structures such as Intermediate Special Purpose Vehicles and Special Purpose Companies will now be classified as ‘Prescribed Companies’. The new prescribed companies regime expands the previous regime …

Israel’s financial system faces significant risks from falling U.S. bond yields and high global debt levels, the Bank of Israel said on Sunday in a semi-annual financial stability report. The central bank noted that global growth and rate forecasts continued to moderate in the first half of 2019, while major …

Qatar has bought some Lebanese government bonds as part of its planned $500 million investment in the Lebanese economy, a Qatari government official told Reuters on Sunday. The Qatari Ministry of Foreign Affairs said earlier this year the wealthy Gulf country planned to invest $500 million in Lebanese government U.S. …

Sultan bin Saeed Al Mansouri, Minister of Economy, has said that hosting of main events of UNCTAD in 2020 in Abu Dhabi, underscores the UAE’s position as an important trade and investment hub in the region, and serves its aspirations to contribute to the regional and international efforts to develop …

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has directed to launch the next edition of the World Government Summit at Expo 2020 Dubai on November 22nd-25th, 2020. The ‘World Government Summit- Expo 2020’ will be the biggest gathering yet since its …

Pakistan signed a $375 million syndicated loan with banks in the United Arab Emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday. The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said. Emirates NBD Capital Limited …

Essa Abdulla Al Nuaimi, UAE Ambassador to Georgia, has taken part in a meeting to learn about the Georgian Government’s assessment and plans regarding the current challenges in the tourism sector. During the meeting, held at the Georgian Ministry of Foreign Affairs, Al Nuaimi spoke about the growing tourist ties …

Officials from the UAE and Kyrgyzstan met here on Friday for the second meeting of the Political Consultations Committee to discuss ways of enhancing bilateral cooperation and review the latest regional and global developments. Co-chaired by Khalifa Shaheen Al Marar, Assistant Minister of Foreign Affairs and International Cooperation for Political …