Category: Trading

DUBAI: Dubai real estate market recorded 715 sales transactions worth AED2.28 billion, in addition to 201 mortgage deals of AED993.9 million, and 30 gift deals amounting to AED76.3 million on Monday, data released by Dubai’s Land Department (DLD) showed.

The sales included 653 villas and apartments worth AED1.65 billion, and 62 land plots worth AED624.87 million

The mortgages included 178 villas and apartments worth AED696.76 million and 23 land plots valued at AED297.14 million, bringing the total realty transactions of today to over AED3.3 billion.

Source: Emirates News Agency

ABU DHABI: Humaid Matar Al Dhaheri, Managing Director and CEO of ADNEC Group, emphasised that the Unmanned Systems (UMEX) and Simulation and Training (SimTEX) exhibitions showcase the United Arab Emirates’ capabilities in unmanned systems and technological innovation.

He highlighted that these exhibitions, organised by ADNEC Group in association with the Ministry of Defence and EDGE Group, contribute to the growth and development of defence industries, enhancing their competitiveness in global markets and diversifying the national economy.

In his comments to the Emirates News Agency (WAM), Al Dhaheri also noted the pivotal role of these industries in civil and commercial sectors, aligning with the strategy to promote non-oil sectors and adopt Fourth Industrial Revolution technologies, thus bolstering the country’s global position as a centre for innovation and advanced technologies.

He explained that such specialised international events contribute to the growth of non-oil GDP by promoting unmanned technol
ogies and systems, fostering economic growth, and creating new job opportunities across various sectors within the country. He pointed out that UMEX and SimTEX exhibitions contribute to enhancing Abu Dhabi’s prominent position in the global business tourism sector by hosting leading international companies and attracting audiences and participants from around the world.

Al Dhaheri emphasised that UMEX and SimTEX exhibitions have solidified their status as two main platforms for major international companies specialising in unmanned systems, simulation, and training. The exhibitions and accompanying conferences have witnessed significant growth in terms of expanded display areas and increased participation from new countries, in addition to introducing civil, commercial, and medical services to this sector.

He stated that UMEX and SimTEX provide unique and exceptional platforms to showcase the latest ideas regarding the advanced use of unmanned systems technologies, driven by the adoption of artificial intel
ligence that is likely to be seen in the coming years. He pointed out that the two exhibitions play a crucial role in accelerating innovation and strategic business partnerships, contributing to attracting more investments for the growth and development of the sector.

He added, “Being the only event of its kind in the Middle East dedicated to unmanned systems, artificial intelligence, and robotics, UMEX and SimTEX is a testament to Abu Dhabi’s growing reputation as a global hub for Fourth Industrial Revolution technologies, showcasing our status as a centre for innovation.”

He noted that the sixth exceptional edition of UMEX and SimTEX witnesses an increase in the number of participating companies to 214, representing a growth rate of 19%. The exhibitions attract participants from 35 countries, including 11 countries participating for the first time, indicating that they have become among the most important events on the global agenda for decision-makers, companies, and innovators in these fields.

He added
, “UMEX and SimTEX exhibitions provide a platform for companies and institutions to showcase the latest developments in the field of unmanned systems and related technology. They support exchange and collaboration between companies and professionals, in addition to their significant impact in enhancing the UAE’s capabilities in the technology field and promoting its position as a major hub for innovation and development.”

He further explained that the exhibitions, in turn, encourage the exchange of ideas and knowledge and contribute to building international partnerships in the field of unmanned systems technologies. They also enhance innovation and raise public awareness about the importance and benefits of unmanned systems technology in areas such as security, exploration, and commercial applications.

He stated that the largest and most significant edition of UMEX and SimTEX 2024 witnesses the launch of five new initiatives, including live marine and land demonstrations at the main platform of the Abu Dha
bi National Exhibition Centre in the Marina ADNEC area. Additionally, live air shows will take place in the Sweihan Hills near Al Ain. The “UMEX Business” platform will also be launched, serving as a platform for both civilian and military companies to showcase their latest technologies, products, and services, as well as exchange innovative ideas and insights.

He highlighted that the exhibitions provide an opportunity for Emirati programmers to participate in the coding challenge organised by the Ministry of Defence for nationals to showcase their skills and capabilities in innovation and creativity in the field of unmanned systems. Furthermore, it provides an opportunity for exhibitors and specialists to explore the advantages of the “UMEX NextGen” platform dedicated to startups. This platform allows them to connect with top professionals, form strategic partnerships, and access valuable investment opportunities.

Source: Emirates News Agency

DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, today visited the third edition of the World of Coffee 2024 exhibition being held at the Dubai World Trade Centre until 23 January.

During the visit, His Highness said that Dubai continues to consolidate its status as a key player in shaping the future of global trade by providing world-class infrastructure and services for bridging markets across the world. ‘Our city’s emergence as the heart of global trade in major commodities demonstrates our constant commitment to excellence and innovation. As we progress in our journey to achieve the Dubai Economic Agenda D33’s goals to raise foreign trade to AED25.6 trillion and expand the emirate’s global reach to 400 additional cities over the next decade, we are not only creating greater economic prosperity but also helping forge new pathways for a more interconnected global trading landscape. Dubai hosts numerous events that bring together various global in
dustries to generate new opportunities, innovations and solutions to accelerate the sustainable growth of international trade,’ His Highness added.

His Highness Sheikh Mohammed was briefed about the World of Coffee 2024 exhibition by His Excellency Helal Saeed Al Marri, Director General of the Dubai World Trade Centre Authority. During his tour of the exhibition, which features 1,650 local and international exhibitors, His Highness was also briefed about the coffee industry’s unique offerings showcased at the event and sustainable practices in the sector’s supply chain.

The global event, organised by DXB Live, the integrated event management and organisation services arm of the Dubai World Trade Centre, in collaboration with the Specialty Coffee Association, features a series of informative lectures presented by seasoned professionals.

The World of Coffee Dubai 2024 serves as a pivotal event in the global coffee industry. With over 1,650 companies and brands in attendance, the expo offers an ideal platform
for showcasing a wide array of coffee products and services. Exhibits range from green and roasted coffee beans to a diverse selection of beverage preparation devices, roasting services providers, flavourings and packaging solutions. Additionally, the event is witnessing the participation of 60 UAE-based companies and brands. The exhibition is also organising several exciting events, including the UAE National Barista and Latte Art Championship, the Coffee Design Awards, and the Best New Product Awards.

The World of Coffee 2024 aligns with the steady expansion of the coffee industry in the region. Market studies and analyses predict continued growth in the coffee market in the coming years. According to Data Bridge Market Research, the value of the coffee and Espresso drinks market in the MENA region is expected to reach around US$1.33 billion by 2030, increasing from approximately US$1.085 billion in 2022, with an anticipated Compound Annual Growth Rate (CAGR) of 2.6%.

Source: Emirates News Agency

DUBAI: The ninth edition of Dubai Customs Week commenced with the theme ‘Digital Empowerment: Forging Impactful Partnerships’, underscoring the importance of cultivating purposeful partnerships and fostering their development.

The event aimed to emphasise the establishment of new alliances to facilitate trade, ensure border security, and enhance the flexibility of global supply chains.

Dubai Customs has been organising the Customs Week for the ninth consecutive year to mark the International Customs Day, celebrated annually on 26th January. The government department announced the coordination of over 30 diverse customs-related events throughout the week, engaging various stakeholders such as partners, clients, relevant authorities, and the community.

At the inaugural ceremony held at Dubai Customs headquarters, attended by the Federal Authority for Identity and Citizenship, Customs and Port Security, local customs directors, and officials, Dubai Customs unveiled the “Advanced Customs Inspection Program.” T
his specialised training programme for local and regional customs inspectors seeks to leverage Dubai Customs’ expertise to keep pace with global developments in the inspection sector.

The programme showcased Dubai Customs’ experience in utilising state-of-the-art inspection systems, intelligent customs examination techniques, and established procedures. Its goal is to fortify security measures for Dubai Customs partners at both local and regional levels, contributing to the stability and protection of the community from security and health risks by enhancing the efficiency of the customs inspection sector.

Sultan bin Sulayem, DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation, emphasised the necessity of solidifying and backing the UAE’s Economic Partnership Agreements programme. ‘This programme is crucial for realising the country’s economic vision, highlighting the UAE’s role as a reliable global partner in trade and investment.’

He noted that the UAE has strategical
ly embraced a digital transformation, serving as a robust foundation for seamless business operations and attracting foreign investments. In 2023, the UAE achieved the second position globally in foreign direct investment inflows into new projects, as reported by the United Nations Conference on Trade and Development (UNCTAD).

Furthermore, he pointed out that the UAE’s Authorised Economic Operator programme, a federal programme that was implemented with the contribution of Dubai Customs, plays a vital role in boosting trade flows to and from the UAE. This is achieved by simplifying customs clearance procedures for committed companies, following specific regulations and processes.

Ahmed Mahboob Musabih, Director-General of Dubai Customs and CEO of Ports, Customs and Free Zone Corporation, highlighted that the UAE has envisioned the future in the trade and economic sectors. He mentioned the World Customs Organisation’s emphasis on the importance of long-term partnerships and establishing new alliances in its
message for the International Customs Day 2024.

‘This aligns with the continued success of the UAE’s Comprehensive Economic Partnership Agreements programme since its launch in September 2021, achieving numerous milestones. Furthermore, the UAE’s accession to the BRICS group will open new horizons for cooperation, enhance partnerships, and achieve mutual economic, trade, and tourism benefits. It is expected that the non-oil foreign trade value of the United Arab Emirates will reach AED2.5 trillion in 2023. In 2023, the number of travellers to the UAE is anticipated to surpass 120 million,’ he said.

Musabih added, “Dubai Customs is committed to enhancing partnerships, initiating new alliances, and fostering mutual cooperation. The objective is to boost digital empowerment for services and customs procedures, aiming to increase the value of Dubai’s foreign trade. Dubai Customs provides an innovative package of advanced and smart services available 24/7, receiving acclaim from international customs authorities
and the International Monetary Fund. The government department’s smart programmes and systems accomplish over 50 transactions per minute, supporting the acceleration of business operations to achieve Dubai’s economic agenda, D33.’

Mohamed Bin Taliah, Chief of Government Services of the UAE Government, underscored the central role of digital empowerment and purposeful partnerships in the UAE government’s operations. He discussed the progress of digital transformation within the UAE government, emphasising that the government services strategy aims to deliver advanced digital services accessible anytime and anywhere. The strategy also prioritises the development of proactive personalised services that cater to individual societal needs and actively involve users in shaping the services they require. This is complemented by efforts to enhance government capabilities and train personnel to lead the future services sector, thereby boosting the country’s global standing and competitiveness.

Bin Taliah detailed th
at the UAE government has made significant strides in proactive services, introducing 300 such services. Moreover, 4 million users utilise the digital identity application to access smart government services. Additionally, 90% of users prefer the convenience of digital channels for completing government procedures.

Concluding the ceremony, Sultan Ahmed bin Sulayem and Ahmed Mahboub Musabih honoured Mohammed bin Taliah for his positive contribution to the opening of the ninth Dubai Customs Week, presenting him with a shield from Dubai Customs. Attendees also celebrated Dubai Customs’ impressive satisfaction rate of over 90 percent, as revealed in a study on the satisfaction of government service users in Dubai for the year 2023.

Source: Emirates News Agency

SHARJAH: IPT Energy LLC, a prominent leader in the energy sector with origins in Lebanon since 1970, recently expanded its presence in Sharjah by establishing IPT Energy Trading. This new entity actively engages in the importation and trading of refined oil products, petrochemicals, lubricants, and grease.

This notable activity, supported by Invest in Sharjah, commemorated IPT Energy’s substantial growth and increasing influence in the region.

Demonstrating a deep commitment to Sharjah’s burgeoning energy landscape, IPT Energy has invested approximately AED 40 million as first stage investment in the emirate. With plans to ambitiously double this investment to AED 80 million by 2025-26, IPT Energy’s growth trajectory is closely aligned with Invest in Sharjah’s mission to foster innovation and facilitate business development within the emirate. This partnership underscores a shared vision for economic progress and industry leadership in the energy sector.

Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah,
said, ‘The expansion of IPT Energy resonates within Sharjah’s dynamic and diverse business ecosystem showcasing the emirate as a compelling and sustainable hub for energy investments. Invest in Sharjah remains committed to providing comprehensive support to companies that are innovating within their respective industries, contributing to the vibrant economic landscape of the emirate. This milestone, through IPT’s success and expansion, also attests to Sharjah being a globally strategic investment destination.’

Demonstrating a broader transformation from an oil and gas company to an energy company, and in-line with the UAE’s Green Agenda 2030, IPT Energy is actively diversifying into renewable energy. This includes a focus on sustainability, incorporating offerings such as biodiesel and eco-friendly additives by TotalEnergies, as well as exploring opportunities in cleaner fuels, solar energy, EV charging, and other potential areas.

During IPT Energy’s milestone celebration, Aya Issa, Regional Director of Iss
a Group Holding, owner of IPT Energy, expressed enthusiasm about the company’s regional expansion, starting with the UAE, and specifically Sharjah. She credited ‘Invest in Sharjah’ for providing essential guidance and support, which has been instrumental in IPT’s preparations for its upcoming expansion in the Sharjah Emirate. She also highlighted the company’s broader expansion plans across the UAE and emphasised their commitment to sustainability, noting their efforts to integrate eco-friendly offerings and explore opportunities in renewable energy to diversify its business model.

Maroun Abdel Nour, the General Manager of IPT Energy, stated that ‘IPT Energy Power Trading LLC’ will run the company operations. Meanwhile, ‘IPT Energy Trading’ aims to enhance expansion by acquiring storage facilities.

IPT Energy is looking to expand its footprint further, showcasing a forward-looking approach that underscores the company’s confidence in Sharjah’s role as a thriving business hub. This reflects the company’s vis
ion to achieve success and encourage collaboration within the dynamic framework of Sharjah’s business community.

IPT Energy welcomed the Invest in Sharjah team for an official site visit to their facility. The event, themed ‘A Journey of Growth and Innovation,’ brought together key representatives from both entities. Invest in Sharjah’s CEO, HE Mohamed Juma Al Musharrkh, Director of Investment Promotion and Support, Marwan Alichla and Head of Marketing and Public Relations, Latifa Al Ali, were welcomed by the IPT Energy team, including IPT founder Michel Issa, and Executive Chairman of Issa Group Toni Issa, as well as Maroun Abdel Nour, and Aya Issa. The agenda featured a comprehensive tour of the premises, followed by a ceremony, reinforcing the collaborative spirit and shared vision for future joint ventures.

IPT Energy LLC specialises in diesel and biodiesel distribution, bunkering, lubricants, and fuel-oil supply services. Operating from a storage facility in Sharjah covering over 4810.5 m2 and housing
three storage tanks able to store over 360,000 IG, IPT efficiently manages its own storage and fleet, serving leading corporate clients across the country. As an authorised distributor of TotalEnergies Lubricants in the UAE, IPT maintains a robust partnership with the global conglomerate.

Source: Emirates News Agency