Maltese trade mission to visit UAE in mid-September 2022

DUBAI, Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), and Maria Camilleri Calleja, Ambassador of Malta to the UAE, have met to discuss the preparations for the visit of the Maltese trade mission to the country in mid-September.

The visit aims to seize investment opportunities in the UAE and Malta and strengthen cooperation and trade and investment partnerships across the private sector.

During the meeting, Bin Salem underscored the importance of implement the provisions of the Memorandum of Understanding signed between the FCCI and the Malta Chamber of Commerce, Enterprise and Industry last January and broadening the horizons of partnerships with the private sector, expressing the FCCI’s readiness to make the visit a success by developing a joint programme in coordination with all member chambers in the UAE.

For her part, the Maltese Ambassador lauded the UAE-Malta relations, and highlighted the objectives of the Maltese trade delegation’s visit, which include learning about the advantages and incentives that the UAE offers to attract investments across industrial innovation and advanced technology. She also called on UAE-based private entities to explore partnership opportunities in these sectors with their Maltese counterparts.

Source: Emirates News Agency

ADIHEX 2022’s captive-bred Falcon Auction to feature seven categories

ABU DHABI, The Abu Dhabi International Hunting & Equestrian Exhibition (ADIHEX) has announced that the Falcon Auction of its 2022 edition, set to be held from 26th September to 2nd October, will feature seven categories of captive-bred falcons, namely Pure Gyr, Peregrine, Saker, Pure Gyr male Karmousha, Gyr Saker, Gyr Saker male, and Gyr Peregrine.

The Auction targets the owners of falcons breeding facilities and farms in the UAE and all countries around the world, organisers of falcon auctions, traders of captive-bred falcons, falconers in the UAE and Arab Gulf Region, VIPs and businessmen interested in the falconry sector, and UAE community members and residents as well as tourists.

ADIHEX has become an ideal opportunity to promote sustainable hunting by inviting thousands of visitors, including local and GCC falconers, as well as falconers from several countries around the world, this aims to use captive-bred falcons provided by the best local and European falcon farms participating in the exhibition.

Among the general requirements for participating in the auction is that the participant is officially registered with ADIHEX, complies with the specified number falcons allowed to participate, puts his falcons in the custody of the organising committee 6 hours before the commencement of the Auction. Moreover, they need to obtain a disease-free certificate for the participating falcons, and avoid feeding the falcons during the auction, as well as to undertake to abide by all the regulatory and health preventive conditions. Additionally, the participants may only sell the falcons after the completion of the auction process, and they are not allowed to withdraw from the Auction.

Majid Ali Al Mansouri, Chairman of the Higher Organising Committee of ADIHEX and Secretary-General of the Emirates Falconers Club, said that the ADIHEX has turned into an ideal international platform displaying the best types of captive-bred falcons in Abu Dhabi, from the best falcon breeding farms in the world.

ADIHEX succeeded in promoting the idea that the alternative falcons bred in captivity proved their high hunting ability, and that they are no less efficient than wild falcons, if they are cared for and trained according to well-founded principles.

The Falcon Auction aims to promote the exhibition’s theme by strengthening the role of the Emirates Falconers Club in preserving and developing the authentic heritage and sustainable hunting. It also seeks to establish a perfect platform for selling, purchasing, and producing the best captive-bred falcons, and to enhance the role of ADIHEX in the industry of falcon farms in the region and the world.

Furthermore, the Falcon Auction seeks to highlight the leading scientific role of the UAE in the birds breeding research, preserving wild birds, and encouraging the production of birds of high specifications in sufficient numbers and at reasonable prices for falconers.

The upcoming 19th edition of ADIHEX is organised by Emirates Falconers’ Club and sponsored by the Environment Agency – Abu Dhabi, International Fund for Houbara Conservation and Abu Dhabi National Exhibition Centre where the event is being held. Moreover, the sponsor of the “Hunting Weapons” sector is Caracal International LLC, with POLARIS-Specialised Sports Equipment as the visitor experience partner, and the Abu Dhabi Chamber of Commerce and Industry as the supporting partner.

Source: Emirates News Agency

AED9.9 bn in weeklong real estate transactions in Dubai

DUBAI, A total of 2,369 real estate transactions worth AED9.9 billion were conducted during the week ending 6th July, 2022, according to figures released by the Dubai Land Department.

A total of 379 plots were sold for AED1.63 billion, while 1,990 apartments and villas were purchased for AED4.26 billion.

The top transactions were a land plot in Palm Jumeirah worth AED80 million, followed by another for AED59 million in Seih Shuaib.

The top sales for apartments and villas were an apartment sold for AED73 million in Palm Jumeirah, followed by another in Al Sufouh First sold for AED57 million. The sum of the amount of mortgaged properties for the week was AED2.72 billion.

A total of 144 properties were granted between first-degree relatives worth AED1.35 billion.

Source: Emirates News Agency

UAE is producing near to its maximum production capacity based on its current OPEC+ production baseline /3,168 mbopd/: Minister of Energy

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, stated that,”The UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline (3,168 mbopd), which UAE is committed by until the end of the agreement.”

”In light of recent media reports, I would like to clarify that the UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline (3,168 mbopd) which UAE is committed by until the end of the agreement,” he said.

Source: Emirates News Agency

UAE-Germany non-oil trade hit AED478 bn in 10 years

The UAE-Germany non-oil trade exchange exceeded AED478 billion during the period from 2012 through 2021, weighing more than 14 million tonnes, data from the Federal Competitiveness and Statistics Centre (FCSC) revealed.

The imports accounted for 89.5% of the total trade exchanges, with exports comprising 3.5%, and re-exports 7%. The data showed that trade exchanges between the two countries were distributed between AED427.4 billion of imports, or 12.7 million tonnes, AED17.1 billion of exports, or 961,700 tonnes, and AED33.4 bn of re-exports, weighing 353,000 tonnes.

The trade exchanges grew by 12% by the end of last year to AED35.3 billion against AED31.5 billion by the end of 2020. Cars ranked first on the list of the most important goods imported from Germany during 2021 at a value of about AED4.3 billion; followed by air vehicles at AED3 billion; medicines at AED1.9 billion; automotive parts at AED1 billion; and finally antiserums and immune products worth AED0.8 billion.

The top 5 commodities exported to Germany during 2021 included insulated wires and cables at about AED363 million; cigarettes worth AED166 million; electricity savers at AED134 million; jewelry at AED76 million; and raw aluminum at AED75 million.

The top 5 goods re-exported to Germany included telephones at AED494 million; turbo-jets and turbo propellers at AED485 million; cars at AED391 million; aircraft parts at AED371 million; and jewelry at AED196 million.

Source: Emirates News Agency

Egypt’s net foreign reserves at $35.5 billion by end of May 2022

Egypt’s net foreign reserves decreased $1.63 billion during May, the Central Bank of Egypt (CBE) announced Monday.

The net foreign currency reserves reached $35.5 billion by the end of May 2022, compared to $37.123 billion recorded in April 2022.

The CBE attributed this decline to the role entrusted to the Central Bank of Egypt to pay the payments related to Egypt’s foreign debts due last May, which amounted to $2 billion on behalf of the Ministry of Finance to pay treasury bonds and dues of the International Monetary Fund (IMF) and other obligations.

The bank said that the net cash reserve balance is sufficient and covers 5 months of commodity imports.

The bank said that these dues and uses of foreign exchange with the Central Bank are in an expected and usual race, and the Central Bank stated that the net cash reserve balance is sufficient and covers 5 months of commodity imports.

Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.

Foreign exchange reserves in Egypt decreased for the second straight month to $35.5 billion in May of 2022, following an external debt repayment of about $2 billion. This included the payment of Egyptian Eurobond coupons issued by the Ministry of Finance, principal and interest payments to the International Monetary Fund, among other external debt obligations. source: Central Bank of Egypt

Source: Emirates News Agency