Category: Trading

DUBAI: flydubai, the Dubai-based carrier, is growing its seasonal summer offering with the addition of flights to Sochi in Russia. Flights to Sochi International Airport (AER) will operate between 16th June and 1st September with a three-times weekly service from Terminal 2 at Dubai International (DXB).

Jeyhun Efendi, Senior Vice President, Commercial Operations and E-commerce at flydubai, said, ‘We are pleased to expand our seasonal summer offering with the resumption of flights to Sochi. Over the last few years, we have seen consistent demand on our popular seasonal routes such as Batumi, Corfu, Dubrovnik, Mykonos and Santorini and with the start of flights to Sochi. We look forward to offering our passengers more attractive holiday destinations to explore between June and September.’

Source: Emirates News Agency

DUBAI: Dubai Chambers has launched the Exporters Roundtable, a new initiative supporting export companies in the emirate in expanding the global reach of their products and services.

The initiative is part of the Chambers’ drive to contribute to achieving the goals of the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy by 2033 and position Dubai among the world’s top three cities. The roundtable is also aligned with the objectives of the Dubai Global initiative, which assists Dubai-based companies in exploring new economic and business opportunities in global markets.

The Exporters Roundtable creates a platform to engage in dialogue with local exporting companies and gain valuable insights into the emirate’s export and re-export landscape. The event sought to uncover critical challenges facing companies operating in the sector and discuss their priorities and requirements. The session offered an opportunity for participants to share their opinions and suggestions to cont
ribute to the development of the export and re-export sector and accelerate the growth of Dubai’s foreign trade.

Attendees were also introduced to the benefits of the integrated services provided by Dubai Chambers to enhance the local business community’s access to expert guidance and support, complemented by its extensive network of international representative offices. These include opportunities to participate in overseas trade missions to explore new partnerships in key target markets, helping them to expand globally and increase their trade volumes.

Hosted at Dubai Chambers’ headquarters, the inaugural edition of the Exporters Roundtable attracted the participation of 140 major exporters. The timely event created a forum for constructive dialogue on the challenges and opportunities shaping the future of the export and re-export sector.

During his opening speech, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: ‘As vital contributors to the growth of Dubai’s economy and the emir
ate’s foreign trade, engaging with exporters is another important step towards strengthening our partnerships with the business community and supporting the growth and prosperity of Dubai-based companies in global markets.’

He added, ‘The Exporters Roundtable creates an interactive platform for dialogue with local exporting companies that enables them to discuss their priorities and requirements, enhancing the sector’s growth prospects and unlocking access to support services and new opportunities. By doing so, the event will help further enhance the sector’s contribution to the national economy, strengthen our efforts to support and protect the interests of the business community in Dubai, as well as facilitate and promote the ease of doing business in the emirate.’

During the meeting, the Ministry of Economy provided a detailed presentation on the latest developments arising from the comprehensive economic partnership agreements concluded by the UAE. The session explored the contribution of these agreemen
ts to opening exciting opportunities for private sector companies and exporters in Dubai and the UAE.

Source: Emirates News Agency

DUBAI: The Ministry of Climate Change and Environment (MOCCAE) today signed a Memorandum of Understanding (MoU) with the Ministry of Agriculture of the Republic of Lithuania to collaborate in developing sustainable food systems, supporting agricultural and food exchange, and investing in the agriculture sector.

The MoU was signed by Mohammed Saeed Al Nuaimi, Undersecretary of MOCCAE, and Vytenis Tomkus, Vice-Minister at the Ministry of Agriculture of Lithuania, at the MOCCAE’s headquarters in Dubai.

This collaboration aligns with various common agricultural interests shared by MOCCAE and the Ministry of Agriculture of the Republic of Lithuania, focusing on knowledge exchange and best practices in organic agriculture, sustainable food systems, climate-smart agriculture, food safety, as well as plant and animal health.

Mohammed Saeed Al Nuaimi emphasised the Ministry’s endeavors to collaborate with stakeholders worldwide, particularly in modern agriculture, sustainable food systems, and knowledge exchange to
enhance national food security. He highlighted the UAE’s promising agricultural and food sector, and how the nation is implementing the latest sustainable technologies and practices to increase local food production and improve the entire food value chain.

He said, “We are pleased to collaborate with the Ministry of Agriculture in the Republic of Lithuania, aiming to ensure mutual benefits by exchanging agricultural. This aligns with our focus on utilising food systems to address climate and food security challenges simultaneously. We affirm that this collaboration, among others, contributes to our efforts to enhance the sustainability of local agricultural products and empower local farmers by transferring knowledge and experiences.’

The MoU includes sharing knowledge on organic agriculture and sustainable farming, soil improvement techniques, climate change mitigation, nature conservation, food safety, ensuring the quality and safety of agricultural products, as well as plant and animal health measures.

The areas of cooperation also encompass enhancing research and collaboration between universities or research institutes and technology in sectors of common interest.

Source: Emirates News Agency

SHARJAH: Azerbaijan’s Vittorio International Fragrance Company has announced an ambitious plan to establish a new regional hub at the Sharjah Airport International Free Zone (SAIF Zone) in an effort to bolster its expansion efforts across the Middle East markets, reflecting Sharjah’s growing stature as a global economic centre.

The Azerbaijani company signed a Memorandum of Understanding (MoU) with SAIF Zone at the free zone headquarters. The MoU was inked by Saud Salim Al Mazrouei, Director of SAIF Zone, and Mr. Ayaz Ibrahimov, Director of Vittorio, in the presence of distinguished officials and managers from both entities.

Under the MoU, Vittorio will lease 215,000 square feet of land within the free zone to be earmarked for the construction of a state-of-the-art perfume and cosmetics factory under the company’s own brand. Vittorio’s investment in the SAIF Zone is valued at approximately AED18.4 million.

The new facility is expected to achieve a production output of 5-6 million bottles annually, which wi
ll be exported from Sharjah to diverse markets including the Middle East, Africa, Europe, and the United States. Vittorio, founded in 2014, boasts over 800 stores globally and operates factories in Central Asia, exporting to several countries including Kuwait, Belarus, Moldova, Russia, Kyrgyzstan, and Kazakhstan.

Saud Salim Al Mazrouei stressed that the agreement with Vittorio, a global leader in perfume production, signifies increasing confidence in Sharjah’s comprehensive manufacturing ecosystem. This ecosystem plays a pivotal role in advancing the UAE’s industrial sector, in line with the National Strategy for Industry and Advanced Technology “Operation 300bn” and “Make it in the Emirates” initiative.

“Attracting international companies with distinctive capabilities to SAIF Zone is yet another testament to the exceptional facilities and services we offer. We are committed to supporting these companies in achieving their economic objectives and providing the best services to investors, while also harnessi
ng all capabilities to ensure an incubating environment for their investments. This enables them not only to expand and enhance their businesses but also effectively serve customers in both regional and global markets,’ Al Mazrouei added.

For his part, Emin Azizov, a representative of Vittorio, said that the decision to pick SAIF Zone as the company’s regional headquarters was influenced by various factors. Key among these were the conducive business environment that fosters growth, the zone’s modern infrastructure, its esteemed global reputation, top-notch services, and a commitment to supporting investors and safeguarding interests. These elements are expected to significantly boost Vittorio’s competitive edge in the market, improve its financial outcomes, and facilitate seamless access to its target markets.

Source: Emirates News Agency

DUBAI: Dubai International Financial Centre (DIFC) announced an exciting series of finance events and activities spanning 20 days, in celebration of the Centre’s 20th Anniversary.

From 29 April to 29 May, participants will have the opportunity to engage in a diverse range of events, seminars, workshops, networking sessions, and special celebrations. DIFC’s 20 Days of Finance series promises to bring together industry leaders, policymakers, investors and entrepreneurs to commemorate DIFC’s two decades of excellence in the global financial landscape.

The 20-day calendar of activities will kick-start with the Dubai World Insurance Congress, 29-30 April at Atlantis, The Palm; the 2nd edition of the Dubai FinTech Summit on 6-7 May at the Madinat Jumeirah; followed by the inaugural HFM Summit, set to bring together the hedge fund sector in partnership with With Intelligence, 15 May at The Conference Centre, DIFC. The Institute of International Finance (IIF) also joins in with DIFC’s 20 Days of Finance, commemorat
ing their 10th anniversary in the Centre and DIFC’s 20th anniversary, with the IIF MENA CRO Forum on 21 May.

During the month, there will also be bespoke activities for DIFC clients operating in the corporate and investment banking, and wealth management sectors. In April, DIFC will also be a platinum partner to the AIM Summit in London, the premier event for alternative investment professionals.

Arif Amiri, Chief Executive Officer, DIFC Authority, said: ‘As a leading global financial hub, DIFC has played a pivotal role in driving economic growth and innovation in the region, attracting leading institutions and talent from around the world. DIFC’s 20 Days of Finance serve as a testament to the Centre’s commitment to excellence and innovation in the financial sector, as we continue to drive the future of finance by leading the way in driving innovation and digital transformation, enabling businesses to thrive in Dubai and beyond.’

The 20 Days of Finance is primarily anchored around the 2nd edition of the Du
bai FinTech Summit held under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC.

The Dubai FinTech Summit 2024, organised by DIFC will bring together over 8,000 decision-makers, 300 thought leaders and 200 exhibitors, showcasing cutting-edge technologies. The impressive line-up of speakers includes Yie-Hsin Hung, President and CEO, State Street Global Advisors, Brad Garlinghouse, CEO, Ripple and Michael Gronager, CEO, Chainalysis.

In line with DIFC’s Strategy 2030 and the Dubai Economy Agenda (D33) agenda to position Dubai as one of the leading business hubs in the world, DIFC encourages financial institutions to participate in its 20 Days of Finance by curating own line-up of activations across the city and attracting high-calibre attendees to experience the richness of thought leadership and forward-thinking governance that the city has to offer.

Source: Emirates New
s Agency