Atradius survey: significant uptake of trade credit insurance across UAE

Expressing a concern over safeguarding cash flow, more businesses have turned to credit insurance than last year

DUBAI, UAE – Media OutReach – 28 June 2022 – The latest Atradius Payment Practices Barometer Survey for the United Arab Emirates has revealed a year-on-year increase in the number of businesses adopting trade credit insurance. The majority of businesses polled cited the need to protect cash flow and minimise days sales outstanding (DSO) as primary reasons for taking out a policy. Indeed, 60% of businesses polled explained that liquidity issues were the primary reason for payment defaults. However, there was also an increase in the number of businesses choosing to use specific trade finance solutions to complement their credit insurance policy.

Despite this increase in the adoption of trade credit insurance, there was no year-on-year change in the total value of B2B sales made on credit, which remained at about half of all sales. Write-offs also held steady at 8% with no change year-on-year. Businesses across the UAE reported different reasons for offering customer credit. These ranged from the desire to grow sales with existing customers in the agri-food industry, to the need to remain competitive within regional and international markets as indicated by respondents in the ICT industry.

“The UAE has a strategically important position as the region’s commercial hub”, said             Schuyler D’Souza, Managing Director Middle East at Atradius. He explained: “Although there remains a widespread preference for cash, trade credit is used to drive sales across various sectors where businesses are competing in international markets. The more widespread use of trade credit insurance in the region is likely to reflect the development of more sophisticated credit management strategies. It is the indication of a maturing market and a further example of the importance of the nation’s commercial focus.”

Overall, companies in the UAE appeared upbeat about their business outlook. The Atradius survey reported an optimistic mood among interviewees, the majority of whom anticipate an improvement in customer payment practices over the coming year. 71% (across all industries) said they expect to increase the amount of B2B credit they trade over the coming months, reflecting anticipated growth in their market share. There was also a widespread expectation that DSO would be kept under control. 53% of the total value of invoices is currently overdue, an improvement on the 60% reported in our last survey in 2021.

The exception to the positive outlook is the steel/metals industry, which has been impacted by geopolitical tensions and supply chain issues. In this year’s survey the industry reported a year-on-year increase in write offs; 12% of all B2B invoices this year compared to 9% last year. The sector also saw an increase in late payments; 49% up from 30% last year.

Atradius conducted the Payments Practices Barometer survey in the first half of 2022. Responses were collected from businesses across the UAE in agri-food, chemicals, consumer durables, electronics/ICT and steel/metals industries.

Download the full report here: https://atradius.sg/reports/payment-practices-barometer-united-arab-emirates-credit-management-strenghtening.html

About Atradius
Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries. The credit insurance, bond and collection products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. You can find more information online at https://atradius.com.hk/

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For further information:

Sylvia Wong

Regional Marketing Manager – Asia

Phone: +852-3657-0810

E-mail: sylvia.wong@atradius.com

www.atradius.com.hk

‫ شبكة تلفزيون الصين الدولية (CGTN): لماذا يمكن لفلسفة التنمية في الصين أن تساعد في تعزيز الرخاء العالمي

بكين، 27 يونيو 2022 / PRNewswire / — بينما يواجه العالم تحديات قاسية، بما في ذلك جائحة COVID-19 ، والصراعات الإقليمية، وردود الفعل السلبية ضد العولمة، يسعى المجتمع الدولي للحفاظ على التنمية مع معالجة أوجه القصور في السلام العالمي والحوكمة.

“هذا عصر مليء بالتحديات، لكنه أيضًا عصر مليء بالأمل”، أشار الرئيس الصيني شي جين بينغ أثناء استضافته الحوار الرفيع المستوى بشأن التنمية العالمية يوم الجمعة في شكل افتراضي.

وأشار شي إلى أن بعض البلدان قامت بتسييس وتهميش قضية التنمية، وبناء “ساحة صغيرة ذات أسوار مرتفعة”، وفرضت أقصى العقوبات، وأثارت الانقسام والمواجهة.

وحث المجتمع الدولي على الاعتراف بالاتجاه السائد في العالم، وتوطيد الثقة، والعمل في انسجام وبدافع كبير لتعزيز التنمية العالمية وتعزيز نموذج التنمية الذي ينطوي على فوائد للجميع، والتوازن، والتنسيق، والشمول، والتعاون الذي يعود بالنفع على الجميع، والازدهار المشترك.

تحقيق حلم الناس في حياة أفضل

سرد شي القصة وخبرته في كونه مزارعًا في هضبة لويس في أواخر الستينيات عندما تحدث في الحدث.

وقال إنه بعد زيارة المدن والبلدات والقرى في جميع أنحاء الصين والعديد من البلدان في العالم على مر السنين، فإن أحد الانطباعات العميقة التي حصل عليها هو أنه لا يمكن تحقيق حلم الشعب في حياة أفضل واستقرار اجتماعي إلا من خلال التنمية المستمرة.

وإذ شدد شي على وضع التنمية في صميم جدول الأعمال الدولي، دعا إلى تنفيذ خطة الأمم المتحدة للتنمية المستدامة لعام 2030 وبناء إجماع سياسي على أن التنمية تحظى بتقدير جميع الناس وأن التعاون يتم متابعته بشكل مشترك من قبل جميع البلدان.

السعي إلى تحقيق التنمية المشتركة

وتحت توجيه شي، التزمت الصين ببناء عالم من الرخاء المشترك. وفي يوم الجمعة، قدم شي أربعة مقترحات لتعزيز التنمية المشتركة.

ودعا إلى بناء توافق دولي مشترك حول تعزيز التنمية. “لا يمكن الحفاظ على الرخاء وضمان الأمن وإرساء أسس متينة لحقوق الإنسان إلا عندما يعيش الناس في جميع أنحاء العالم حياة أفضل”.

وقال إنه ينبغي للمجتمع الدولي أن يعمل معاً لتهيئة بيئة دولية مواتية للتنمية تتسم باقتصاد عالمي مفتوح ونظام حكم عالمي عادل ومنصف.

وأشار شي إلى أن التحركات الحمائية ستزدهر؛ فأي شخص يحاول تشكيل كتل حصرية سينتهي به الأمر إلى عزل نفسه، وأن إضافة أقصى العقوبات لا يخدم مصلحة أحد، وأن ممارسات فك الارتباط وتعطيل الإمداد ليست ممكنة ولا مستدامة.

كما سلط الرئيس الصيني الضوء على ضرورة تبني دوافع جديدة للتنمية، قائلًا إنه ينبغي بذل الجهود لتعزيز الإبداع العلمي والتكنولوجي فضلًا عن الإبداع المؤسسي، والنهوض بالصناعات الحديثة، وسد الفجوة الرقمية، وتسريع التحول المنخفض الكربون.

وفيما يتعلق بالتنمية، شدد شي على ضرورة عدم التخلي عن أي بلد أو فرد، داعيًا إلى إقامة شراكة إنمائية عالمية.

وقال شي: “يجب على البلدان المتقدمة أن تفي بالتزاماتها، ويجب على البلدان النامية تعميق التعاون، ويجب على الجنوب والشمال أن يلتقيا في منتصف الطريق”.

وعد الصين الراسخ

مع الأخذ في الاعتبار رفاهية البشرية كلها، اقترح شي مبادرة التنمية العالمية ( GDI ) في المناقشة العامة للجمعية العامة للأمم المتحدة في دورتها السادسة والسبعين في سبتمبر 2021 في توجيه التنمية العالمية نحو مرحلة جديدة من النمو المتوازن والمنسق والشامل، والتي لقيت ترحيبًا حارًا ودعمًا قويًا من أكثر من 100 دولة.

أعلن شي يوم الجمعة عن الخطوات العملية الأخرى التي اتخذتها الصين لتقديم الدعم المستمر لخطة التنمية المستدامة لعام 2030 وتعزيز الرخاء العالمي.

وقال إن الصين سترفع مستوى صندوق مساعدة التعاون فيما بين بلدان الجنوب إلى صندوق عالمي للتنمية والتعاون فيما بين بلدان الجنوب، وستضيف مليار دولار إلى الصندوق بالإضافة إلى مبلغ الـ 3 مليار دولار الذي تم الالتزام به بالفعل، وستزيد كذلك من المدخلات في الصندوق الاستئماني للسلام والتنمية التابع للأمم المتحدة.

وأشار شي إلى أن الصين على استعداد للعمل مع جميع الأطراف لتعزيز التعاون في الحد من الفقر والقضاء عليه، وإنتاج الأغذية وإمداداتها، والتنمية الخضراء، وابتكار اللقاحات، والبحث والتطوير، وكذلك تعزيز التصنيع والربط.

ووفقًا لما ذكره الرئيس الصيني، ستنشئ الصين منبرًا لتبادل الخبرات والمعارف بشأن التنمية الدولية، ومركزا عالميا لتعزيز التنمية، وشبكة عالمية للمعارف من أجل التنمية، بغرض تبادل الخبرات في مجال الحكم وتعزيز التعلم المتبادل.

وقال شي: “سنستضيف منتدى عالميًا حول تنمية الشباب ونشارك في إطلاق خطة عمل عالمية حول تنمية الشباب، في محاولة لتجميع أكبر قدر ممكن من القوة لتنفيذ خطة التنمية المستدامة لعام 2030”.

https://news.cgtn.com/news/2022-06-24/Xi-Jinping-hosts-High-level-Dialogue-on-Global-Development-1b84KzgwYko/index.html

الفيديو –  https://www.youtube.com/watch?v=C52LtPJmMe4 

Abdullah bin Zayed congratulates France’s new Minister for Europe and Foreign Affairs

ABU DHABI, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, congratulated Catherine Colonna, France’s new Minister for Europe and Foreign Affairs, on her appointment.

During a phone call, H.H. Sheikh Abdullah wished Minister Colonna success in her new position, and highlighted the deep-rooted bilateral ties between the UAE and France, as well as their keenness to widen the scope of their cooperation to serve their mutual interests.

The two officials exchanged their views on a number of regional issues, and the means to consolidate the pillars of security and stability in a way that will achieve the aspiration of nations towards peace, stability and development.

For her side, Minister Colonna hailed the exceptional nature of the bilateral partnership between the UAE and France, asserting her country’s keenness to enhance, deepen and develop the relationship between the two friendly countries in various fields.

The two sides also discussed ways of enhancing the prospects of bilateral relations, especially in fighting climate change, in light of the UAE’s preparations to host the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Abu Dhabi in 2023.

Source: Emirates News Agency

Sheikh Shakhbout Medical City Offers ADU Students A Unique Learning Experience

As part of an MoU signing between the two entities, Sheikh Shakhbout Medical City provided students an opportunity to apply their skills in a practical environment, under the guidance of SSMC’s engineering team

As part of a partnership agreement between Sheikh Shakhbout Medical City (SSMC) and ADU, ADU’s Interior Design students were given a firsthand educational experience to learn, apply their skills and express their creativity by applying their innovative design ideas in the Department of Pediatric Rehabilitation. In addition to empowering students and creating positive spaces for patients, this collaboration will support students in working and learning alongside SSMC’s engineering team and further applying new designs across its facilities.

The entire process included four phases. During the first phase, ADU students and faculty members provided significant input and ideas for designing the Pediatric Rehabilitation Department under the supervision of Dr. Ahmed Elshakhs, Assistant professor of interior and furniture design, Architecture and Design Department, at ADU. The renovation process includes plans for the entrance, corridors, reception, waiting areas, two treatment rooms, a gymnasium and a speech therapy room.

Following the success of the first installation, further design phases will follow as part of the collaboration. Currently, SSMC’s engineering team and ADU students are working together on the hospital’s Gynecology Emergency and Pre-natal Diagnostic Center, with plans to also include the Pediatric ward, Maternity Emergency Room

OROR area. In addition to the Parent Diagnostical Center, which is set to be completed by the end of 2022.

Dr. Hamdi Sheibani, Dean of the College of Engineering at Abu Dhabi University (ADU), said: “The collaboration between Abu Dhabi University (ADU) and Sheikh Shakhbout Medical City (SSMC) is a valuable initiative in which both entities have reaped the benefits equally. It is a colossal opportunity for our students to enrich and develop their skills in a practical setting. Abu Dhabi University is constantly striving to build fruitful partnerships with local and international stakeholders that add value to its students. We look forward to seeing our student’s exemplary commitment to this initiative as we continue to support and prepare them to be future leaders in their careers.”

Dr. Ahmed Elshakhs, Assistant professor of Interior and Furniture Design, at Abu Dhabi University (ADU) and project supervisor, said: “It is an excellent opportunity for our students to engage in the field of design in a professional manner through a comprehensive design proposal, including full visual documentation, detailed working drawings, material selection, specifications and quantities. For the first time, the Architecture Department at Abu Dhabi University (ADU) provided consultation for a full project toward the implementation and construction phase. Students have demonstrated a strong skill and a solid knowledge base of the process that earned them the respect of the client and the contractor. The significant relationship between the child and mother has been raised and considered within the students’ proposal. This project exemplifies the department’s curriculum’s strength.”

Dr. Abba Zubair, Dean of Education at SSMC, said: “At SSMC, education is a fundamental pillar of our mission and we are committed to provide a holistic healthcare experience for our patients. We are enthusiastic about working alongside Abu Dhabi University (ADU), in order to provide their talented students with a unique opportunity to utilize their skills with guidance from our world-class engineering team. By giving them a platform to apply their learnings in a practical environment, they succeeded in delivering an uplifting space for our Pediatric patients, which we are confident will make their stay at the hospital more positive.”

The Interior Design program at ADU combines aesthetics and technology, including Computer-Aided Design (CAD) and 3D computer modelling, to help students create remarkable indoor environments that are practical and elegant.

SSMC’s vision is to become the region’s preferred integrated health care destination for critical and complex patient care. Its strategy to achieve this is through SSMC’s Model of Care where care is delivered, one patient at a time, by a multi-disciplinary team of experts within a fully comprehensive, multi-specialty practice, supported by education and research. The integration of SSMC’s three shields: Practice, Education, and Research, is fundamental to its vision and to meeting the needs of all patients.

Source: Abu Dhabi University

Sheikh Zayed Grand Mosque Centre ranked among world’s ‘Top Attractions’ by TripAdvisor

ABU DHABI, The Sheikh Zayed Grand Mosque Centre (SZGMC) has acquired a leading reputation as one of the top tourism attractions in the world, according to TripAdvisor ratings in 2022.

SZGMC came in first in the region and fourth globally in the “Top Attractions” subcategory of the TripAdvisor’s recently launched ‘Travelers’ Choice Awards for 2022: the Best of the Best Destinations’, which are based on the quality and quantity of traveler reviews and ratings for experiences, tours, activities, and attractions. It also ranked ninth globally in the awards’ “Top Cultural & Historical Tours” subcategory.

This achievement is one in a series of successes that underscore the mosque’s position as a prominent cultural landmark on the global tourism map, as well as its renown as a one-of-a-kind edifice, which stands out among the world’s places of worship and cultural and tourist attractions. Previously, TripAdvisor ranked the Centre in the top three globally.

SZGMC’s significance goes past its religious status as a place of worship, as it plays a key role in promoting the UAE’s message of coexistence, peace and compassion among the world’s cultures, as well as in reviving the Islamic civilisation, being a striking model of Islamic architecture.

Each year, the mosque receives around 7 million visitors and worshipers from various religions and cultures, in what could be described as an ever-changing painting epitomising tolerance and coexistence among human beings, who come together on the crossroads of cultural dialogue and convergence.

It also offers a range of distinctive programmes, activities, initiatives and experiences related to Islamic culture and knowledge, and supports the UAE’s role in raising awareness of noble values and principles.

Moreover, the SZGMC Visitor Centre enables tourists to spend an entire day enjoying its exhibition halls, theatre, library and Souq Aljami (market).

The Sheikh Zayed Grand Mosque Centre operates under an integrated system, powered by skilled personnel specialising in different areas, to ensure that visitors enjoy an exciting experience, including cultural tours presented by specialists in Arabic and English, as well as in the Arabic and English sign languages.

The Centre has an exemplary track record of successes that has opened new horizons and enabled it to keep pace with developments, through drafting plans and strategies aimed at ensuring optimal performance in playing its cultural role and providing visitors with unforgettable experiences.

Source: Emirates News Agency