Category: Trading

DAVOS: The Abu Dhabi Department of Economic Development (ADDED) led the Emirate’s official economic delegation to the 54th Annual Meeting of the World Economic Forum (WEF), which concluded yesterday in Davos-Klosters, Switzerland, to showcase ‘Falcon Economy’s attributes, ample growth opportunities, and commitment to transformative strategies, steering towards a sustainable, green economy that positions Abu Dhabi at the forefront of global initiatives leading to Net Zero, driven by innovation and technology.

The high-level delegation, led by ADDED, comprised key entities including Abu Dhabi Global Market (ADGM), Abu Dhabi Investment Office (ADIO), Hub71, and Abu Dhabi Residence Office (ADRO). Together, they formed a robust platform representing leading economic powerhouses in Abu Dhabi, dedicated to exploring business opportunities and fostering strategic relations with global leaders.

Over the course of four days, the delegation actively engaged in more than 50 bilateral meetings with industry leaders and
representatives of both the public and private sectors worldwide. This participation underscores Abu Dhabi’s commitment to contributing to global economic conversations and fostering collaborative efforts towards a sustainable future.

The delegation’s discussions with global economy leaders in Davos focused on enhancing cooperation and attracting talents, businesses, and investments to grow, thrive and expand out of Abu Dhabi.

Ahmed Jasim Al Zaabi, Chairman of ADDED, said, ‘During the past few days at Davos, we met with many esteemed delegates from across the world and shared our efforts to transform into a ‘Green Falcon Economy’ through innovation and entrepreneurialism. As the global economy is experiencing multi-faceted transformations impacting all geographies and industries, we believe a collaborative and proactive approach is needed to guide our world to a better future. To this end, we are engaging with global powerhouses to devise innovative solutions to current and future challenges,’.

‘Our soarin
g ‘Falcon Economy’ presents a model of harmonising between advanced technologies, sustainability, human development, and economic growth. Our initiatives to further enhance a vibrant, globally competitive, and entrepreneurial ecosystem to generate opportunities for all, enabling them to reach their full potential are paying off. Foreign investments in Abu Dhabi witnessed a significant 9.7% increase, reaffirming the Emirate’s attractiveness to investors and its rising position as Capital of Capital,’ Al Zaabi added.

ADDED was part of UAE’s largest delegation to the World Economic Forum (WEF), with over 100 senior representatives of federal and local government entities, and a special pavilion to highlight the UAE’s initiatives to elevate its stature as a hub for global business, finance, trade, and innovation by offering a unique environment of security, stability, global networks, and business opportunities.

Al Zaabi shared his views on UAE’s approach to bridging East and West by enhancing trade and investm
ent flows, and the country’s commitment to fostering regional economic integration, referring to the vital role played by Comprehensive Economic Partnership Agreements (CEPAs) signed with key partners.

He also highlighted Abu Dhabi’s efforts to become the regional hub for entrepreneurship and innovation, high-tech Manufacturing, digital and automation, and finance. He elaborated that Abu Dhabi’s future growth model focuses on accelerating the move towards exporting goods, services, and innovations.

Source: Emirates News Agency

SHARJAH: Al Dhaid Agricultural Exhibition, organised by Expo Centre Sharjah, continues its successful run into the third consecutive day, featuring over six panel discussions and scientific workshops conducted by a team of agricultural experts and specialists.

The third day sessions have delved into crucial topics related to sustainability within the agricultural and livestock sector, including the latest developments in wheat production, such as new wheat breeds, and the application of international best practices in wheat cultivation.

The discussions are particularly significant in the UAE, with Sharjah playing a pivotal role in food security. The event is organized in collaboration with the Sharjah Chamber of Commerce and Industry and with the support from the Department of Agriculture and Livestock.

Attracting a significant number of farm owners and agricultural professionals, the exhibition showcases cutting-edge technologies and equipment in agricultural development. It has become a platform for intr
oducing innovative solutions in hydroponics, vertical farming, advanced irrigation, and horticulture techniques.

Attendees also have the opportunity to avail themselves of the services offered by various entities and institutions participating in the exhibition, which are instrumental in enhancing production and achieving self-sufficiency.

Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, said: ‘By hosting leading corporate and institutional participants, the exhibition seeks to present breakthrough solutions encompassing the latest fertilisers and techniques, guaranteeing high-efficiency, top-notch agriculture that is both relevant and sustainable. It fosters the sharing of expertise and experiences, while offering comprehensive knowledge on the most up-to-date pillars of agricultural development, which ensures a successful contribution to food security by expanding the land-area for cultivating wheat, a strategic crop. These efforts work towards food security targets, meeting the requirements of agricul
tural expansion with expertise for addressing climate challenges and adapting to water scarcity.’

Representatives of agricultural companies participating in the event said Al Dhaid Agriculture Exhibition is a unique platform for communicating with farmers to identify sector priorities – as farmers are the ones practicing in the field and dealing with various agricultural requirements.

Engineer Mohammed Elshafei, Sales Manager for Al Mubarak Agro-Chemicals, said a main focus of the exhibition is techniques for refining wheat cultivation. By participating in the event, his company has been able to promote its products, especially pesticides, designed to raise the productivity and quality of wheat crops. The company’s products, he said, increase the number of ears cultivated by providing good seeds and effective pesticides to control the pests associated with wheat cultivation.

Engineer Omar Abdul Rahim of Al Yamama Fertilizer Industries, which specialises in both chemical and organic fertilisers, said the or
ganisation of Al Dhaid Agriculture Exhibition by the Sharjah Chamber and Expo Centre Sharjah is an important step. He noted that Al Yamama’s product offerings include fertilisers and pesticides with applications in the development of wheat cultivation.

The exhibition, which concludes on Sunday evening, has brought together numerous ministries and government entities and over 50 companies operating in the agriculture and livestock sector, along with experts, farm owners, and farmers.

Source: Emirates News Agency

ABU DHABI: Emirates Defense Companies Council (EDCC) will participate in the sixth edition of the Unmanned Systems Exhibition (UMEX) and the Simulation Training (SimTEX),from 22nd-25th January 2024 at Abu Dhabi National Exhibitions Centre (ADNEC). The event is held under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi.

A key enabler of the defence and security industry in the UAE, EDCC has placed special emphasis on participating in this important event through a dedicated stand featuring a number of leading governmental entities and companies such as the Ministry of Industry and Advanced Technology, Abu Dhabi Department of Economic Development, SAAB group, Canadian Aviation Electronics (CAE), and Avantguard. They will feature the latest innovative defence products supported by artificial intelligence and autonomous technologies.

Commenting on the participation, Mona Ahmed Al Jaber, Chairwoman of EDCC, said, “UMEX and SimTEX 2024” serve as an opportunity to underscore the r
ole of the Council as the national representative body for the UAE defence industry, with the mission of facilitating communication among national and international defence contractors and parties interested in becoming EDCC members’.

‘The aim is to enhance the capabilities of the local industry and leverage specialized expertise to establish a robust foundation for the defence and technology sector, consequently fostering promising opportunities and joint collaborations,’ she added

Al Jaber pointed out that the EDCC responsibilities include organising the UAE’s National Pavilion and official participation in various defence-related exhibitions and events worldwide, along with focusing on forging meaningful strategic partnerships that contribute to the realization of the UAE’s ambitious goals.

UMEX and SimTEX is the only event in the Middle East dedicated to drones, robotics, components and unmanned systems and an exceptional platform to showcase the utilisation of artificial intelligence technologies.ar

S
ource: Emirates News Agency

BEIJING: China’s logistics sector achieved steady recovery in 2023 and the country remains the world’s largest logistics market in terms of demand, China Federation of Logistics and Purchasing said on Saturday.

According to a report from CCTV, He Liming, the chairman of the China Federation of Logistics and Purchasing, announced at the 7th Annual Freight Logistics Conference in Beijing that the total revenue from logistics is projected to reach 350 trillion yuan (equivalent to approximately $49.18 trillion) by 2023.

Noting that China’s modern logistics industry continues to enhance its position in the national economy, he said the sector is entering a stage of moderate growth.

He Liming stated that the logistics demand has remained relatively stable due to the modest enhancement of fiscal policies and the implementation of flexible and suitable monetary policies. Moreover, as final consumption continues to rebound, it will lead to consistent growth in production and import demand, thereby establishing mode
rate market growth as the standard.

He further stated that there has been a continuous enhancement in the competitive capabilities of China’s logistics enterprises. In the year 2023, the combined revenue of the 50 leading domestic logistics companies surpassed 2.3 trillion yuan (equivalent to approximately $280 billion).

Source: Emirates News Agency

DUBAI: Dubai’s Roads and Transport Authority (RTA) today announced the introduction of a new toll gate (Salik) at the Business Bay Crossing.

The RTA also announced the installation of the Al Safa South Toll Gate on Sheikh Zayed Road, between Al Meydan and Umm Al Sheif Streets, for operational and organisational purposes. A single tariff will be required when crossing between the two Safa Gates (north and south) within a one-hour window.

The move is aligned with the RTA’s comprehensive strategic plan to develop road networks, public transport routes and services and enhance technical road and transport systems. The initiative also reflects the RTA’s commitment to implementing policies aimed at encouraging public transport usage and reducing dependence on private vehicles.

These measures are part of the RTA’s efforts to streamline traffic flows on Dubai’s roads by rerouting traffic to alternative traffic corridors such as Sheikh Mohammed bin Zayed Road, Dubai – Al Ain Road, Ras Al Khor Road, and Al Manama Street. They also encourage using alternative Creek crossings, such as the Infinity Bridge and Al Shindagha Tunnel, besides encouraging residents and visitors to opt for less crowded traffic routes.

As per RTA’s plan, the two gates are set to be fully operational by November 2024, in concurrence with the completion of the Al Khail Road Improvement Project.

The project encompasses the construction of five intersections and braided ramps and the introduction of rapid traffic solutions at two key points along Al Khail Road. It also includes enhancing the surface intersections of First Al Khail Road with Al Meydan and Al Zumurrud Streets.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the RTA, said, “The existing toll gates contributed to reducing the total travel time in Dubai by 6 million hours annually, decreasing traffic volumes on the Al Maktoum and Al Garhoud bridges by 26%, reducing travel times on Sheikh Zayed Road and Al Ittihad Street by 24%, and increasing the number of mass transit users by 9 million riders per annum.”

He added that international consultants’ studies and proposals have concluded the need to install a toll gate at the Business Bay Crossing as well as Al Safa South Toll Gate as an operational gate such that a single tariff is required when crossings between the two Al Safa Gates (north and south) within one hour. This measure is intended to maintain traffic service levels, accommodate traffic volumes, and control congestion on the road network and at intersections.

The Business Bay Crossing Gate contributes to rerouting traffic from Jebel Ali towards Sheikh Mohammed bin Zayed and Emirates Roads. This diversion reduces traffic on Al Khail Road by 15% to 2,053 vehicles per hour. It also reduced the traffic on Al Rebat Street by 16% to 1,218 vehicles per hour.

Al Tayer added that it will also decrease the traffic volume on Financial Centre Street by about 5% and cut down the total travel time on the congested section of Al Khail Road between Al Rebat Street and Ras Al Khor Road by about 20,000 hours daily in both directions.

Installing the operational Al Safa South Gate reduces the traffic turning right from Sheikh Zayed Road to Al Meydan Street by 15%. It also cuts down the traffic flow from Al Meydan and Al Safa Streets to Sheikh Zayed Road by 42% to 1,070 vehicles per hour. It also helps decrease the traffic volume on Sheikh Zayed Road between Financial Centre and Latifa Bint Hamdan Streets by 4% and optimise the use of the First Al Khail and Al Asayel Roads by up to 4%,”

Source: Emirates News Agency