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Abu Dhabi's Non-Oil Exports, Re-Exports Jump 62.5

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Abu Dhabi's Non-Oil Exports, Re-Exports Jump 62.5 01-05 DECEMbER 2020 | 16-20 RAbi Ul AKHiR 1442 HiJRi | VOlUME NO. 08 | iSSUE 95 /emiratesbusiness.ae @emi_business emirates-business.ae OP-ED PAGE 04 FOREX (AED) ENERGy TEN TOLA GOLD STOCK MARKET INDEX uSD 3.6800 YEN 0.0357 B r e n t Crude $47.70/bbl buLLION the Joe biden era will be neither normal nor boring Abu Dhabi - ADX 4,964.94 EuRo 4.4155 CHF 4.1087 WTI Crude $45.32 /bbl Under new president, the White House will no longer generate a cacophony of incompetence. Tweet tantrums will yield to process GBP 4.9178 CAD 2.8566 N a t u r a l G as $2.99 /MMBtu Dubai - DFM 2,419.60 and predictability, writes Francis Wilkinson PRECIOUS METALS AmEricAs PAGE 07 New york - NYA 14,198.50 EXCHANGE RATE Sri Lankan Rs 50.26 Gold $1,773.30/t oz Apple suppliers’ China exodus not to slow down under biden Indian Rs 20.02 Philippine Peso 12.85 Gold-Dubai AED215.25/gm Buy for London - UKX 6,350.37 Bangladesh Taka 22.32 (AED) 25,106.76 The iPhonemaker, the largest of the many tech giants that rely on Pakistani Rs 42.57 Silver $22.23/t oz Chinese factories , will move some production to Vietnam Tuesday— Saturday Price UAE: AED 2 UN lauds UAE support to airlift aid MohAMMed AttendS ‘CoMMeMorAtion dAy’ CereMony to Ethiopian refugees in Sudan The Emirates has allocated AED18.4m to help refugees GENEVA / WAM The cargo included 5,000 blankets, 4,500 solar lamps, The UN refugee Agency has 2,900 mosquito nets, 200 plastic sheets and 200 plastic commended the UAE for sup - porting humanitarian efforts rolls. A second airlift will carry 1,275 family tents and 10 to airlift emergency aid and prefabricated warehouses. This aid will meet the supplies to Ethiopian immediate shelter needs of more than 16,000 people refugees in Sudan. Spokesperson of the United Nations High Commis - IHC. ''In total, we plan to send ously covered by the Govern - sioner for Refugees (UNHCR) four airlifts,'' he added. ment of United Arab Emi - Babar Baloch, told a news The cargo included 5,000 rates,'' he said. briefing in Geneva that a blankets, 4,500 solar lamps, The United Arab Emirates plane carrying 32 tons of 2,900 mosquito nets, 200 announced last week allocat - UNHCR emergency aid from plastic sheets and 200 plastic ing AED 18.4 million ($5.0 global stockpile in Dubai rolls. A second airlift will million) in support of the re - landed in Khartoum. Another carry 1,275 family tents and cently arrived Ethiopian airlift was scheduled to leave 10 prefabricated ware - refugees in Sudan. Since the Dubai on Monday with 100 houses. This aid will meet the start of fighting in Ethiopia’s tons of additional relief items. immediate shelter needs of northern Tigray region in His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, attended the ‘Commemoration UNHCR’s global stockpile is more than 16,000 people. early November, he noted, Day’ ceremony at Wahat Al Karama in Abu Dhabi, on Monday. HH Sheikh Mohammed bin Rashid honoured the families of several martyrs hosted by the International ''The transportation costs more than 43,000 refugees and presented them with the ‘Martyr’s Medal’ to honour their sacrifices for the nation —WAM Humanitarian City in Dubai, of both flights were gener - have crossed into Sudan. Abu dhAbi department of economic development (Added) releases reports on emirate’s exports and re-exports Khalifa orders setting up of Fallen Frontline Heroes Order Abu DhAbi / WAM Covid-19. The award is based on a proposal by HH Abu Dhabi’s non-oil exports, HH Sheikh Khalifa bin Zayed Sheikh Mohamed bin Zayed Al Nahyan, President of the Al Nahyan, Crown Prince of UAE, has ordered the award Abu Dhabi, Deputy Supreme of the Fallen Frontline He - Commander of the Armed re-exports jump 62.5 pct roes Order to those who Forces and Head of the Fakhr have lost their lives on the Al Watan Office (Frontline The impressive growth has been attributed to the UAE capital’s economic frontlines while tackling Heroes Office). and trade relations with countries in the Middle East and around the world Abu DhAbi / WAM The positive results Banks waive AED869.85m Abu Dhabi’s non-oil exports and re-exports reached AED32.8 bil - showcase the growth debts of 1,607 Emiratis lion between June and August in Abu Dhabi’s non-oil 2020, up 62.5 percent compared exports and re-exports Abu DhAbi / WAM to AED20.2 billion recorded be - despite the global tween March and May this year, a The Non-performing Debt report issued by the Abu Dhabi repercussions of the Relief Fund announced on Department of Economic Devel - Covid-19 pandemic, which Monday that 12 banks had opment (ADDED) showed. led to the current economic waived the debts of 1,607 The report reveals the emi - crisis that has negatively Emirati citizens, with a total rate’s exports and re-exports of value of more than non-oil goods amid the coron - affected all countries AED869.85 million. avirus pandemic, particularly be - Mohammed Ali Al Shorafa, The banks that partici - tween March and August 2020. pated included First Abu The waiver of debts is Mohammed Ali Al Shorafa, Chairman of ADDED Dhabi Bank, Abu Dhabi Com - part of the UAE's wise Chairman of ADDED, said, "The According to ADDED’s report, Saudi Arabia was the number one destination of Abu Dhabi’s mercial Bank, Al Hilal Bank, leadership's keenness to recent results showcase the non-oil goods between March and August 2020 enhance the global competitive - Mashreq Bank, Emirates growth in Abu Dhabi’s non-oil ex - ness of the national products. He NBD, Abu Dhabi Islamic ensure a decent life for all ports and re-exports despite the rising demand for Abu Dhabi’s crisis. The government has also assured that ADDED will con - Bank, Standard Chartered, Emiratis and the highest global repercussions of the Covid- non-oil products. He added that been proactive in implementing tinue to support the local econ - RAKBANK, Commercial Bank possible standard of 19 pandemic, which led to the the latest numbers have proved precautionary measures to en - omy and preserve the emirate’s of Dubai, Dubai Islamic Bank, social stability current economic crisis that has the regional and global competi - sure business continuity in the economic gains in line with the Emirates Islamic, NBQ, and negatively affected all countries." tiveness of local goods. emirate and ease the impact of vision and directives of the Abu the Arab Bank for Investment Al Shorafa attributed the ADDED Chairman also reaf - the global pandemic on the pri - Dhabi Government’s leadership. & Foreign Trade (Al Masraf). Crown Prince of Abu Dhabi growth to the UAE capital’s eco - firmed the Abu Dhabi Govern - vate sector. For his part, Rashed Abdul The move was imple - and Deputy Supreme Com - nomic and trade relations with ment’s commitment to help ADDED’s Chairman noted that Karim Al Balooshi, Under-Secre - mented as per the directives mander of the UAE Armed countries in the Middle East and sustain the performance of the the Department will further work tary of ADDED, highlighted the of President His Highness Forces; and the follow-up of around the world. He added that private companies that benefited towards strengthening Abu vital role of the Department and Sheikh Khalifa bin Zayed Al HH Sheikh Mansour bin these well-established ties from its economic stimulus Dhabi’s exports of various prod - its government partners in in - Nahyan; and the support of Zayed Al Nahyan, Deputy demonstrate the confidence of package that was issued earlier ucts and commodities to achieve creasing the local non-oil exports His Highness Sheikh Mo - Prime Minister and Minister the global community in and the for businesses affected by the tangible economic returns and and re-exports. hamed bin Zayed Al Nahyan, of Presidential Affairs. Angola eyes investments Japan buys Opec seeks compromise on from UAE to spur growth 21.85 mmb DubAi / WAM of crude oil plan to delay output hike The UAE has been identified as a key market where Angola from UAE The cartel that pumps half the world’s crude is debating is looking to attract foreign di - whether to maintain supply at current levels or increase it rect investment in a wide vari - TOKYO / WAM ety of economic sectors, such blooMberg egates, and so far there’s been no as agriculture and agroindus - The UAE can play a vital role Japan imported from the opposition. But delegates said it try, fisheries, and manufactur - United Arab Emirates Opec ministers started hashing was likely a final decision would - ing, government and business in Angola’s economic 21.850 million barrels of out the size of the cartel’s oil-pro - n’t be reached until Tuesday. leaders have revealed. Their growth and development crude oil in October 2020, duction cuts for next year, as the “We must be aware today that comments came during the through portfolio investment data released by the group’s president called for cau - the market conditions of 2020 recent "Expand Your Business and government is working Agency of Energy and Nat - tion in a fragile market. are likely to continue during the to Angola" webinar organised ural Resource in Tokyo The coalition that pumps half first quarter of 2021,” Algerian by Dubai Chamber of Com - to open capital on its stock showed.
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