Blog Archives

A high-profile delegation from Dubai Customs to visit China to promote trade and share experiences

9/15/2013

A high-profile delegation from Dubai Customs is to travel to the People's Republic of China for an official visit from the 15th to the 19th of September. During the visit, they will meet senior officials in the Chinese Customs, to discuss the components of mutual cooperation and share ideas and experiences. They will also discuss the opportunity to develop a commercial partnership between Dubai and China through coordination of customs procedures and utilization of customs systems for both parties.

The delegation is chaired by His Excellency Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Director General of Dubai Customs. The delegation includes Mr.Guma Al Ghaith, Executive Director of the Customs Development Division; Mr. Youssef El-Hashami, Director of Intellectual Property Rights Department; Mr. Ahmed Al Kharousi, Director of the Customs Intelligence Department, and Mr. Khalil Bin Gharib, the Director of Corporate Communication Department.

The delegation is meeting with His ExcellencyLu Peijun, Vice Minister of the General Administration of China, Vice General Commissioner and a number of officials in Chinese Customs. The delegation, in a bilateral meeting with the Department of International Cooperation, will be informed of China Customs’ experiences in different fields. The most prominent of which is the development and use of information technology applications, as well as the regulations that they apply to categorize customs clearance operations. They also learned about the role of the customs intelligence in the inspection of shipments.

Dubai's property rebound to continue in 2014 - Fitch

9/13/2013

Dubai's real estate rebound will continue well into next year, according to a report by Fitch Ratings.

The ratings agency said the emirate's prime property sector is set up for a "strong 2014" following a vibrant 2013.

Mall Of The Emirates Plans Dhs1bn Redevelopment

9/11/2013

The renovation project will include new shopping, dining and entertainment concepts.

Dubai-based Mall of the Emirates will undertake a massive redevelopment project worth an estimated Dhs1 billion, developer Majid Al Futtaim (MAF) has announced.

The project, called Evolution 2015, will include the launch of new shopping, dining and entertainment concepts.

Fundamentals seen driving Dubai’s property rally

9/4/2013

Driven by strong demand and much-improved economic fundamentals rather than speculation, housing prices in Dubai are on the ascent, Standard Chartered bank said.

The bank said in a report released on Wednesday that over the past 12 months, residential prices have increased by 38 per cent for apartments and 24 per cent for villas, with rents increasing by 20 per cent and 17 per cent, respectively.

“Slowly but steadily, confidence has returned to the market. Second quarter marks the fourth consecutive quarterly increase in residential prices,” according to a report titled ‘Dubai housing: Fundamentals not speculation.’

The report said at the moment, the market seems to be driven primarily by fundamentals rather than speculation. Although there is a risk that this could change, it is encouraging that regulators are drafting laws to curb excessive speculation in off-plan properties.

Obama wins support from leaders in Congress for Syria military strike

9/4/2013

WASHINGTON (Reuters) - President Barack Obama on Tuesday urged quick congressional action authorizing the use of military force against Syria and won the support of leaders from both parties in the House of Representatives for limited strikes against President Bashar al-Assad's forces.

Obama told congressional leaders at a White House meeting that the United States has a broad plan to help the rebels defeat Syrian government forces.

After the meeting, the top two Republicans in the House - Speaker John Boehner and Majority Leader Eric Cantor - and top Democrat Nancy Pelosi said they would back military action against Syria.

"Only the United States has the capability and the capacity to stop Assad and to warn others around the world that this type of behaviour is not going to be tolerated," Boehner told reporters. "I believe that my colleagues should support this call for action."

The support came as Obama ramped up his lobbying effort for military action in response to what Washington says was a sarin gas attack by the Syrian government that killed more than 1,400 people, hundreds of them children, near Damascus on August 21.

Dubai’s ENOC Loses Deal To Fuel US Military Jets

9/1/2013

Chevron won the new contract to supply U.S. allied military jets refuelling in Dubai.

The U.S. military has not renewed its contract to buy jet fuel from Emirates National Oil Company (ENOC) in the United Arab Emirates (UAE) because other suppliers made cheaper bids, the U.S. Department of Defense said.

Dubai government-owned ENOC was contracted by the U.S. military to supply jet fuel to Al Minhad Air Base near Dubai from mid-2011 to the start of September 2013.

Expo chiefs give Dubai thumbs-up for 2020

9/1/2013

LONDON // Inspectors who assessed Dubai's bid to stage Expo 2020 were impressed by the theme, the level of public support and the plans for financing the project.

A six-strong team from the Bureau International des Expositions, which oversees world expos, spent five days in Dubai gathering information about the bid and holding high-level talks.

Inquiry missions took place in all the candidate cities to determine whether their plans were viable and in line with the bureau's regulations. The winner will be chosen by delegates from its 167 member countries in Paris in November.