Latest news with #China-UAE
Hi Dubai
03-06-2025
- Business
- Hi Dubai
Dubai Aerospace Enterprise Secures $300 Million Loan from Bank of China
Dubai Aerospace Enterprise (DAE) has secured a $300 million unsecured term loan from the Bank of China, strengthening its liquidity position and reinforcing ties with one of the world's largest financial institutions. The 3-year loan agreement was signed with Bank of China's Dubai Branch, London Branch, and Hong Kong Limited. DAE confirmed that the funds will be used for general corporate purposes and to support future financing needs as the aviation giant continues to expand its global operations. 'This transaction with BOC provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet,' said Firoz Tarapore, CEO of DAE. 'We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration.' The deal also marks a significant step in strengthening economic ties between China and the UAE. Pan Xinyuan, General Manager of Bank of China (Dubai) Branch, noted the importance of the partnership, highlighting the bank's ability to offer tailored financing solutions in the aviation sector. 'Bank of China values its growing relationship with DAE and is pleased to support this strategic financing,' Pan said. 'We will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises.' DAE, one of the largest aircraft leasing companies in the world, manages a fleet of over 500 aircraft and serves more than 120 airline customers across 60 countries. News Source: Emirates News Agency
Yahoo
20-05-2025
- Business
- Yahoo
Hainan Free Trade Port-UAE Promotion Conference Held in Dubai
HAIKOU, China, May 20, 2025 /PRNewswire/ -- A report from Hainan International Media Center (HIMC): On May 19, the 2025 China Hainan Free Trade Port-UAE Promotion Conference was successfully held in Dubai. Over 250 government and free trade zone participants from the UAE and Hainan, along with business leaders and media representatives, attended the event. The focus was on trade and investment liberalization and facilitation, encompassing cooperation in sectors such as new energy, finance, biopharmaceuticals, healthcare, and agarwood, injecting strong momentum into the establishment of the Hainan FTP as an innovative hub for China-UAE economic and trade relations. In his opening address, Feng Fei, Secretary of the CPC Hainan Provincial Committee highlighted the province's firm commitment to creating a free trade port with a market-oriented, law-based, and internationalized business environment and "zero tariffs, low tax rates, and a simplified tax system" at its core. He further emphasized that Hainan would focus on promoting in-depth cooperation with the UAE in the digital economy and green energy. Chinese Ambassador to the UAE Zhang Yiming pointed out that the open policies of the Hainan FTP are highly consistent with the UAE's "50-Year Development Plan," and the cooperation between the two sides will set a new benchmark for China-Middle East economic and trade cooperation. Abdulla Al Saleh, Under-Secretary of Foreign Trade and Industry at the UAE Ministry of Economy, said that the UAE will actively link in with the Hainan FTP's financial liberalization and cross-border trade facilitation policies and jointly explore innovative cooperation models in cutting-edge fields such as artificial intelligence and blockchain. Dr. Ali M. Al-Khouri, Secretary-General of the Office of the Deputy Prime Minister and Minister of Interior of the UAE and Chairman of the Arab Federation for Digital Economy, Marwan Al Marri, Regional Director of Asia from Dubai Chambers, and Omar Al Muhairi, Senior Vice President for Government Affairs at DP World Group, expressed their confidence in the cooperation prospects between the UAE and the Hainan FTP. At the event, the Hainan Provincial Bureau of International Economic Development provided a systematic breakdown of the advantageous policies and development opportunities of the Hainan FTP. Meanwhile, Hainan Provincial Financial Supervision and Administration Bureau and the Danzhou Municipal Government conducted thematic presentations on financial opening pilot initiatives, cross-border capital flows, and new investment opportunities in the Danzhou-Yangpu Economic Circle, respectively. In a bid to promote bilateral cooperation, representatives from Mingyang Group, Qilu Pharmaceutical, Mellser International Medical Center, and the Hainan Agarwood Industry Association shared information about Hainan's distinctive industries, specialty products, and plans to expand into the Middle Eastern market. During the meeting, Hainan signed four strategic cooperation agreements with enterprises from the UAE and Saudi Arabia, covering new energy, logistics parks, automobile trade, and headquarters base construction. A business negotiation session was arranged after the meeting, during which representatives of more than 100 Chinese and Arab companies met and laid the groundwork for future cooperation. View original content to download multimedia: SOURCE Hainan International Media Center (HIMC) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Emirates 24/7
23-04-2025
- Business
- Emirates 24/7
ADIG Announces Strategic Partnership with Hainan at Major China Investment Conference
The Chinese government formally invited Abu Dhabi Investment Group (ADIG) to participate in the Invest in China 2025 Global Industrial Investment Promotion Conference for the Hainan Free Trade Port, which gathered over 1,700 companies from 71 countries. At the event, His Excellency Zayed Bin Rashid Bin Aweidha Al Qubaisi, CEO of ADIG, highlighted the Group's historic role in supporting the UAE's economy since its establishment in 1958. He emphasized Dubai's economic model as a benchmark for development and urged action to mitigate the worsening global economic crisis, which he described as more severe than the 2008 financial collapse. A key outcome of the conference was the announcement of a strategic partnership between ADIG and Hainan Province to collaborate across various sectors. Both parties agreed to establish an investment development fund to support projects in Hainan and the UAE. In his remarks, Bin Aweidha stressed that the current global crisis presents a historic opportunity for deeper China-UAE investment cooperation, aiming to reshape the global economic landscape. He reaffirmed ADIG's commitment to transforming challenges into opportunities for sustainable development. The event received wide coverage from Chinese and international media, including interviews with Xinhua News Agency. Follow Emirates 24|7 on Google News.
Khaleej Times
06-02-2025
- Business
- Khaleej Times
UAE: PowerChina hosts Sunmarke School for desalination and intercultural exchange
PowerChina, in collaboration with the Confucius Institute at the University of Dubai and Sunmarke School, organised a technical exchange activity themed "Popularising Desalination Technology and Promoting China-UAE Intercultural Exchange" at the UAE Hassyan Desalination Project site. The programme featured a guided tour of the project site, interactive experiments, and cultural presentations, offering local students a unique and enriching experience that seamlessly blended science and culture. The programme provided an opportunity to promote cultural exchange while demonstrating how Chinese construction companies like PowerChina are contributing to solving global issues, especially in the UAE. Abdulaziz Al Mahdi, CEO of the UAE Hassyan Desalination Project, warmly welcomed the students and teachers in his speech. He highlighted that the UAE Hassyan Desalination Project is one of the largest desalination projects in the world. Al Mahdi expressed his belief that the on-site teaching and visit would provide students with valuable insights into the technology and significance of desalination. Many students mentioned that it was their first time to visit a desalination project built by a Chinese contractor. To give them an overview of PowerChina, Hong Li, Chief Representative of PowerChina in the UAE, briefly introduced the company. She explained that PowerChina is a large state-owned enterprise in China, specialising in planning, design, construction, and operation in energy, water ecological environmental governance and development, and infrastructure. The company has a wealth of experience in international business management and core leading technologies. During the experimental operation session, students from Sunmarke School gained a deeper understanding of seawater desalination technology by testing water quality indices at various stages of the desalination process. This hands-on experience allowed them to explore the joy of scientific discovery and innovation. In the interactive Q&A session, the students actively participated, answering questions with enthusiasm. Their insightful responses brought the event's atmosphere to a vibrant peak. Leila, a student representative from Sunmarke School, shared her excitement about the event: 'Thanks to PowerChina for providing us with this valuable opportunity. It was a wonderful experience that made me realise the importance of freshwater resources. This activity seamlessly combined science, technology, innovation, and reality, showcasing how science and technology can address global challenges.' David, the lead teacher, shared his thoughts with enthusiasm: 'Students typically learn about sustainable development and environmental protection in theory during their school studies, but this activity seamlessly combined theory with practice. For many students, this was their first experience with a desalination project, making it a meaningful opportunity to broaden their horizons and deepen their understanding of the world.' At the conclusion of the event, both teachers and students expressed their appreciation, describing the experience as vibrant and full of hope, much like the Year of the Snake, which symbolizes wisdom and progress. They extended warm wishes for the Chinese New Year to all staff members in both Chinese and English, saying: 'She Nian Kuai Le, Happy Chinese New Year!' By the end of the event, Li Junqi, Vice-President of PowerChina Mena, emphasised the importance of water resources and desalination in his speech. Mr. Li expressed hope for more exchange activities in the future to further deepen cooperation between the UAE and China in the fields of culture, science, and technology. This cross-cultural exchange activity, featuring a visit to the desalination project, is part of PowerChina's ongoing efforts to strengthen the friendship between the UAE and China while fostering a positive image of Chinese companies overseas. The event deepened mutual understanding and friendship between PowerChina and the local community, laying a strong foundation for building a shared future in this new era. UAE
Dubai Eye
29-01-2025
- Business
- Dubai Eye
UAE President extends wishes on Lunar New Year
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan extended his wishes to the millions celebrating Lunar New Year on Wednesday. "I would like to extend my heartfelt congratulations to all those celebrating the Lunar New Year in the UAE and around the world. May the New Year bring you and your loved ones peace, prosperity and joy," the President said on social media platform X. Diplomatic ties between the UAE and China were established in 1984. There are around 6,591 Chinese brands registered in the UAE and more than 327 trade agencies operating in the UAE. The UAE hosts a large community of Chinese nationals residing, who are largely involved in the construction sector. The UAE is also China's second largest trading partner in the Arabian Gulf and the largest in terms of buying Chinese products. In celebration of the Year of the Snake, Umm Al Emarat Park is hosting the 'Together in Light: 40 Years of China-UAE Friendship' exhibition, in partnership with the Embassy of the People's Republic of China and the Chinese Language Institute until February 1. Global Village's Chinese Pavilion will display an array of cultural shows and authentic dining experiences, as well as a fireworks display. Hundreds of millions of people across Asia celebrated the Lunar New Year with their families on Wednesday, as they bid farewell to the Year of the Dragon.
