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Gulf Today
29-05-2025
- Business
- Gulf Today
Dubai and the Philippines to to strengthen trade relations
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised 180 bilateral business meetings between companies from Dubai and their counterparts in the Philippines. The meetings in Manila marked the first stop of the chamber's trade mission to Southeast Asia, which includes both the Philippines and Thailand, and forms part of the 'New Horizons' initiative aimed at supporting the global expansion of local companies into promising international markets. The trade mission to the Philippines featured representatives from 17 private sector companies in Dubai, spanning a diverse range of sectors including food and beverages, agriculture, automotive, construction, electronics, hospitality, human resources and services, industrial lubricants, investment, and perfume retail. Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, said: 'We are dedicated to fostering new avenues for trade between Dubai and high-potential global markets.' 'Our trade mission to the Philippines comes as part of our ongoing drive to enable meaningful international expansion for local companies and strengthen investment ties with business communities worldwide. These efforts enhance Dubai's position as a global trade hub and contribute to the sustained growth of its non-oil exports.' As part of the mission, Dubai Chamber of Commerce hosted a business forum in Manila entitled 'Doing Business with the Philippines' The event was hosted in collaboration with the Embassy of the United Arab Emirates in Manila, the Philippine Chamber of Commerce and Industry, the Philippines Board of Investment, the Department of Trade and Industry (DTI) - Export Marketing Bureau, and the Consulate General of the Philippines in Dubai. The forum featured remarks from Mohamed Obaid Al Qataam Al Zaabi, UAE Ambassador to the Republic of the Philippines; Enunina V Mangio, President of the Philippine Chamber of Commerce and Industry; and Ma. Anna Kathryna Yu-Pimentel, Special Envoy to the United Arab Emirates for Trade and Investment. During the forum, which was attended by 314 participants, Dubai Chambers signed a Memorandum of Understanding with the Philippine Chamber of Commerce and Industry to enhance cooperation, strengthen bilateral trade relations, and explore new areas of collaboration between the business communities in Dubai and the Philippines. Dubai Chambers also delivered a presentation showcasing Dubai's strategic advantages as a global business hub, highlighting potential areas for cooperation between the two markets and the competitive value proposition Dubai offers to Filipino companies. Non-oil trade between Dubai and the Philippines reached a value of Dhs3.1 billion in 2024. The number of active Filipino companies registered with Dubai Chamber of Commerce reached 2,154 by the end of last year, representing year-over-year growth of approximately 37 per cent. Dubai Chamber of Commerce has identified several high-potential export sectors from Dubai to the Philippines, including leather, car parts, fertilisers, flat-rolled iron/steel, organic chemicals, and flooring materials. The chamber also highlighted promising sectors for Dubai-based companies to invest in within the Philippines, including tourism, agri-industries, telecommunications, logistics, and healthcare. Established in 1965, Dubai Chamber of Commerce continues to represent, support, and protect the interests of the business community in Dubai, create a stimulating business environment, and promote the emirate as a global business hub. The chamber is one of three chambers operating under the umbrella of Dubai Chambers, which was restructured under a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Earlier the Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Brazilian Business Council. The new council is dedicated to expanding cooperation between the business communities in Dubai and Brazil, deepening trade and investment ties, and promoting bilateral partnerships across diverse sectors. The inaugural annual general meeting of the Brazilian Business Council was hosted recently at Dubai Chambers' headquarters. Discussions focused on enhancing investments in promising business opportunities, strengthening the ties between Brazilian companies and their counterparts in Dubai, sharing expertise and data, and organising bilateral business events. The launch of the council reflects Dubai's position as an international business hub for Brazilian companies and investors. During 2024, non-oil trade between Dubai and Brazil reached Dhs13.8 billion, marking a 35 per cent year-on-year increase and highlighting the growing strength of bilateral trade relations.
Gulf Today
30-04-2025
- General
- Gulf Today
Sharjah Charity spent Dhs100.8m on humanitarian programmes and initiatives
The Sharjah Charity announced that its total expenditure through humanitarian programmes and initiatives amounted to Dhs100.8 million, covering humanitarian aid, external projects and orphan sponsorships. Sheikh Saqr Bin Mohammed Al Qasimi, Chairman of the Association's Board of Directors, stated that domestic aid in the first quarter totalled Dhs3.1 million, benefiting 2,270 cases, including widows, divorcees, and the elderly. He added that approximately Dhs23 million were allocated to one-time assistance for diverse groups including: 473 medical cases who were supported with Dhs13.1 million, 444 students who received educational aid totaling Dhs2.9 million, and housing assistance amounting to Dhs4 million, supporting 418 beneficiaries through home renovation, maintenance, furnishing, rent relief, and utility bill payments. Sheikh Saqr highlighted that the association relieved 562 cases of hardship with Dhs2.2 million, supported 16 young couples preparing for marriage with Dhs150,000, sponsored 33 persons to perform Umrah at a cost of Dhs500,000. Additionally, Dhs6.8 million were allocated for food aid, benefiting 9,486 families through food parcels, Ramadan meals, Eid clothing, and Zakat Al Fitr. Internationally, Sheikh Saqr noted expenditures of Dhs62.4 million on projects including building 573 mosques at a cost of Dhs29.9 million, digging 3,623 wells for clean water at a cost of Dhs14.9 million, and establishing 65 educational facilities at a cost of Dhs4.9 million. Sheikh Saqr added that the association also distributed Ramadan Iftar meals at Dhs3.4 million, built 23 houses for the poor at a cost of Dhs654,000, provided 59 productive projects to support families at a cost of Dhs545,000, and maintained and renovated 26 construction projects at a cost of Dhs452,000. Sheikh Saqr Al Qasimi emphasized continued support for sponsored individuals, totaling 31,670 beneficiaries, including: 31,083 orphans, 261 needy families, 31 students, 231 imams and teachers,64 people of determination with sponsorship costs amounting Dhs5.3 million. 6894512
Gulf Today
27-04-2025
- Business
- Gulf Today
DCC concludes its trade mission in Maputo with 356 business meetings
Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has successfully concluded its trade mission to Angola and Mozambique with the organisation of 356 business-to-business meetings between companies from Dubai and their counterparts in Mozambique. The meetings were aimed at establishing new partnerships and exploring opportunities for the expansion of mutual trade and investments. As part of the mission's activities, Dubai Chamber of Commerce organised a business forum titled 'Doing Business with Mozambique.' The event was arranged in cooperation with the UAE Embassy in Maputo, Mozambique's Ministry of Economy, the Chamber of Commerce of Mozambique, the Agency for Promotion of Investment and Exports (APIEX), and the Consulate General of Mozambique in Dubai. The forum featured keynote remarks from Fredson Bacar, Tourism Secretary, Ministry of Economy of the Republic of Mozambique; and Álvaro Massingue, President of the Chamber of Commerce of Mozambique. The forum attracted 349 participants including senior officials, business leaders, and representatives of local companies, who gathered to explore avenues for cooperation and joint business opportunities with the members of the Dubai delegation. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, 'We are committed to strengthening the global reach of Dubai-based companies by supporting them in exploring opportunities in promising markets such as Mozambique. These efforts enhance the competitiveness of our private sector and contribute to Dubai's growing global trade. This mission creates a dynamic platform to build fruitful partnerships and pave the way for successful business and investment collaboration between the business communities in Dubai and Mozambique.' Dubai's non-oil trade with Mozambique rose from Dhs3.1 billion in 2023 to Dhs4.6 billion in 2024, marking a significant growth of 47%. As of the end of Q1 2025, a total of 89 businesses from Mozambique were registered as active members of Dubai Chamber of Commerce. During the forum, the chamber showcased Dubai's advanced business environment and highlighted the emirate's competitive advantages for Mozambican companies. The event also highlighted the promising opportunities available in the Mozambique market for companies based in Dubai. A panel discussion took place during the forum outlining some of Mozambique's key trade and investment advantages, as well as its strong market potential across all major sectors. The session also provided an overview of partnership mechanisms and business setup procedures in Mozambique for Dubai-based companies. Dubai Chamber of Commerce has identified a range of high-potential sectors for exports from Dubai to Mozambique, including wheat, cars, cell phones, frozen fish, diagnostic and laboratory equipment, electrical conductors, and textiles. Promising sectors for investments in Mozambique by Dubai-based companies include agribusiness; tourism and hospitality; packaging and printing; traditional and renewable energy; and the wood processing industry. The delegation from Dubai featured representatives from 19 private sector companies operating across a wide range of industries including electronics, trading, piping products, brand protection solutions, retail, textiles, energy, and mobility solutions. Earlier, Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised 252 bilateral business meetings between companies from Dubai and Angola in Luanda, the country's capital city. The meetings took place during the first stop of chamber's trade mission to Angola and Mozambique as part of the 'New Horizons' initiative, which aims to support the international growth of companies based in Dubai by unlocking opportunities in promising global markets. The trade mission to Angola featured representatives from 20 Dubai-based private sector companies operating across diverse industries including agriculture; construction and building materials; electronics; energy and petrochemicals; engineering; FMCG trading; food and beverages; information technology; manufacturing; maritime and shipping services; metallurgical industries; real estate; retail; and supply chain and logistics. As part of the mission's activities, Dubai Chamber of Commerce organised a business forum in Luanda titled 'Doing Business with Angola' with the support of the UAE Embassy in Luanda, Angola's Ministry of Industry and Commerce, the Chamber of Commerce and Industry of Angola (CCIA), the Agency of Investment and Export Promotion (AIPEX), and the Consulate General of the Republic of Angola in Dubai. WAM
Gulf Today
21-03-2025
- Business
- Gulf Today
Dewa's general assembly clears dividend of Dhs3.1b for H2 of '24
Dubai Electricity and Water Authority (Dewa) reported that its shareholders have, in the general assembly held on Friday, approved the payment of total dividend of Dhs3.1 billion for H2 of 2024, with a record date of 31st March 2025. The meeting, chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of Dewa, was attended by Saeed Mohammed Al Tayer, MD&CEO of Dewa and Members of the Board of Directors of Dewa as well as 92.2% of the shareholders. During the meeting, a Board of Directors was elected for the next three years. Matar Humaid Al Tayer, Chairman of Dewa, said, 'Dubai continues to consolidate its position as a global leader in economic growth, sustainability and innovation. At Dewa, we take great pride in being a key pillar of this success, ensuring that the energy and water infrastructure keeps pace with the rapid growth Dubai is witnessing.' Saeed Mohammed Al Tayer, MD & CEO of DEWA, said, 'In 2024, Dewa Group delivered another year of strong performance, reporting consolidated full-year revenue of Dhs30.98 billion, EBITDA of Dhs15.73 billion and net profit after tax of Dhs7.23 billion Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services.' 'Dewa's network now serves over 1.27 million customer accounts, and we take pride in achieving the world's lowest electricity line losses at 2%; the world's lowest water network losses at 4.5%; the world's lowest Customer Minutes Lost (CML) of less than one minute per year-setting a global benchmark for reliability,' noted Al Tayer. 'I am optimistic about our outlook for 2025, driven by the continued growth in tourism, residential, commercial and industrial demand; the expanding active daytime population in Dubai; and opportunities for business expansion and infrastructure development,' added Al Tayer. Last month, Dubai Electricity and Water Authority reported its full year 2024 preliminary and unaudited consolidated financial results. Dewa Group recorded consolidated full year revenue of Dhs30.98 billion, EBITDA of Dhs15.70 billion and net profit after tax of AED7.24 billion. For Q4, 2024, Dewa Group reported revenue of Dhs7.45 billion, EBITDA of Dhs3.95 billion and net profit after tax of Dhs1.76 billion. As per Dewa's dividend policy, the company expects to pay a minimum annual dividend of Dhs 6.2 billion in the first five years starting October 2022. The dividends are paid semi-annually in April and October. On 31st October 2024, Dewa distributed Dhs 3.1 billion as dividend for H1, 2024 to its shareholders, based on a record date of 18 October 2024. The upcoming dividend of Dhs3.1 billion for H2, 2024 is expected to be distributed in April 2025, subject to approval by Dewa's shareholders at the annual general assembly. The issuance of invitations to Dewa's upcoming annual general assembly is subject to approval by the Securities and Commodities Authority of the UAE, according to a company statement issued today. The company said its consolidated annual revenue increased by 6.18% to Dhs30.98 billion in 2024 primarily driven by rising demand for electricity, water and cooling services. On a like-for-like basis, Dewa Group delivered an annual profit before tax increase of 1.81% to Dhs.98 billion. DEWA remains focused on its core strategic objective of delivering sustainable growth, staying at the forefront of smart and innovative operational excellence and optimising returns for all its stakeholders while minimising its environmental footprint, added the statement. Earlier, Dubai Electricity and Water Authority received the 'Most Innovative Digital Transformation' award provided by the Ministry of Cabinet Affairs. This is in a recognition of Dewa's outstanding achievements in innovation and digital transformation. Dewa received the award for its groundbreaking digital power transmission substation that minimises energy waste and reduces the carbon footprint. Saeed Mohammed Al Tayer expressed his pleasure at receiving the award, noting that the award underscores innovations that significantly enhance government excellence, offering sustainable solutions to current and future challenges while transforming them into opportunities for growth and development. Separately, Dewa and the Electric Power Research Institute (EPRI), the leading US organisation for electric power research and development, have discussed ways to enhance collaboration in areas such as renewable energy training, network modernisation, energy storage solutions. The discussions took place during a visit by a high-level delegation from EPRI, led by Arshad Mansoor, President and CEO of EPRI, to Dewa's headquarters. The delegation was received by Saeed Mohammed Al Tayer, MD and CEO of Dewa. The meeting also focused on strengthening strategic collaboration in research and development (R&D), sustainability and innovation in the energy sector. WAM
Gulf Today
08-02-2025
- Business
- Gulf Today
AD Ports Group and CMA CGM to develop a terminal in Pointe Noire
AD Ports Group on Friday signed a shareholders' agreement with the CMA CGM Group, a global player in sea, land, air, and logistics solutions, through its subsidiary CMA Terminals, to jointly develop, manage and operate the New East Mole multipurpose terminal in Pointe Noire, Congo-Brazzaville, for which AD Ports Group received a 30-year extendable concession in June 2023. With the signing, AD Ports Group and the CMA CGM Group formed a joint venture, majority-owned by AD Ports Group, to develop, manage, and operate New East Mole multipurpose terminal at the Port of Pointe Noire, which will handle containers, general, break-bulk and other types of cargo at the Central West African nation's biggest Atlantic port. At the time it obtained the concession, AD Ports Group said it expected to invest about $220 million (Dhs807 million) to build a 400-metre quay wall at 16-metre depth, plus a 10-hectare logistics area, during Phase 1 of the project. With this new agreement, AD Ports Group and the CMA CGM Group are further cementing their partnership after the inauguration of CMA Terminals Khalifa Port last December, a Dhs3.1 billion ($845 million) container terminal that will eventually expand Khalifa Port's container capacity of 7.8 million Twenty Foot Equivalent Units (TEUs) in 2024 by 33 per cent or 2.6 million TEUs. In The Republic of Congo, CMA CGM shipping line holds the leading position in exports and ranks second in imports and transshipment, with historically an overall container volume market share in the country of about 35 per cent. The JV has confirmed that the terminal will be operated as a 'multi-user' facility and AD Ports Group will maintain controlling majority ownership in management and operation of the terminal and as such the operations will still be fully consolidated. Mohamed Eidha Al Menhali, Regional CEO, AD Ports Group, said, 'This agreement further enhances our strategic partnership with CMA CGM in several markets and projects along global trade lines, the latest of which was the inauguration of CMA Terminals Khalifa Port last December. Our collaboration at the port of Pointe Noire is a continuation of this association. We look forward to jointly developing and managing phase 1 of the New East Mole multipurpose terminal with the CMA CGM Group. We believe this partnership will position the Republic of Congo at the centre of maritime trade, in line with projections for annual growth of 3 to 5 per cent in container volumes forecast for the country over the medium term.' Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, said, 'Our investment with AD Ports Group at the Port of Pointe Noire is a new milestone of our strategic collaboration between CMA T and AD Ports Group as we enable modern, sustainable ports and maritime infrastructure for the next wave of global trade. We look forward to bringing the operational and economic benefits of this collaborative, sustainable approach to The Republic of the Congo and to its importers and exporters.' The multipurpose terminal is set to become a hub for trade and commerce in the region, enhancing job creation, providing knowledge transfer and connecting Congo-Brazzaville to global markets. The New East Mole multipurpose terminal at the Port of Pointe Noire has already placed an order for three Super Post-Panamax Ship-to-Shore (STS) cranes, which represent the latest generation in high-performance port equipment. Additionally, Pointe Noire will receive nine hybrid Rubber-Tyred Gantry Cranes (RTGs) and other associated handling equipment. These hybrid RTGs offer significant environmental benefits, reducing diesel consumption by up to 60 per cent, equivalent to saving 1 million litres of diesel annually, and cutting approximately 5,000 tonnes of CO2 emissions, reducing the carbon footprint, and promoting the sustainability goals of Congo-Brazzaville. Meanwhile AD Ports Group, last week began its long-term management and development of a major multipurpose terminal and an associated logistics business with local partners in Luanda, Angola, driving forward its expansion in sub-Saharan Africa. With Angolan joint venture partners Unicargas and Multiparques, AD Ports Group started operations at Noatum Ports Luanda Terminal in the country's largest port. The Port of Luanda handles about 76 per cent of Angola's container and general cargo volumes, as well as providing maritime access to landlocked neighbours Democratic Republic of the Congo and Zambia. AD Ports Group has a 81 per cent stake in the multipurpose terminal venture with Unicargas and Multiparques, and a 90 per cent stake in the logistics venture with Unicargas. Under a 20-year concession agreement with the Luanda Port Authority signed in April 2024, AD Ports Group committed to invest around $250 million through 2026 to modernise the terminal and to develop Noatum Unicargas Logistics, the joint venture providing integrated logistics, transport and freight forwarding services for local, regional and international clients.
