Aafaq Islamic Finance continues to support SME’s via facilities provided  by the "Osool" program

“آفاق الإسلامية للتمويل” تواصل دعم الشركات الإماراتية الصغيرة والمتوسطة

 Aafaq Islamic Finance, a leading company in the Islamic finance sector for individuals and companies affirms its continuous support for local initiatives through various features provided by the “Osool” program launched two months ago offering support to small and medium-sized Emirati enterprises in the United Arab Emirates. The initiative is in line with the aspiration of the UAE government to activate the presence of small and medium-sized companies’ sector, and increase their level of contribution to the economic cycle, given that they are considered as the backbone of the global…

Tawazun and Yahsat collaborate to develop Made in the UAE SATCOM solutions

Tawazun and Yahsat collaborate to develop Made in the UAE SATCOM solutions

●      Collaboration will focus on the production of critical aeronautical, modem and other advanced satcom technologies in the UAE. ●      Aims to harness local knowledge, manufacturing capabilities and technology leadership to propel national industrialization efforts. ●      First ‘seed project’ to develop an advanced satellite modem and bespoke waveform for government and defense markets in the UAE and internationally. Abu Dhabi, UAE, 23 February 2021: Tawazun Economic Council and the UAE’s flagship satellite services operator, Yahsat, have signed a Memorandum of Understanding (MoU) to establish a new company to develop critical…

Dubai Customs gives certificate issuance authorization  to registered Ducamz car dealers

1.3 مليون معاملة جمركية في “دوكامز” و”الميناء الجاف” العام الماضي

HE Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation stated that Dubai has managed to contain the economic slowdown resulted from the spread of covid-19 pandemic and its negative effects on global trade and supply chain activities. The emirate maintained a momentum in its external trade, with customs transactions growing 23% and customs declarations growing 30% compared to 2019. Bin Sulayem said: “Dubai Government has put strong plans and programs to ensure quick recovery from the effects of the pandemic.…

Dubai Customs’ Seyaj intercepts 76 kg of meth and hashish

حملة “وطن آمن” لجمارك دبي توجه ضربات موجعة للمهربين

Dubai – 02 January 2021: Dubai Customs busted a major drug trafficking operation, seizing 76.31 kg of narcotics at Hamriya Port. The Dh47.5 million worth of drugs comprising 30.15 kg of crystal meth and 46.16 kg of hashish were found skillfully stashed inside an inbound container shipment, said Ibrahim Kamali, acting executive director of Customs Inspection Division at Dubai Customs. “Upon analysis of intelligence data our officers got suspicious over an inbound shipment to Hamriya Port that was flagged by the Risk Engine system as being high risk,” he pointed…

Export credit agencies of UAE, India join hands to enhance trade, economic cooperation 

الإمارات والهند تعززان العلاقات التجارية وفرص ائتمان الصادرات المشتركة

Alliance to create prospects for mutual strategic projects between the UAE and India Agreement to give a boost to companies and exporters between the two countries, enhancing their economic ties The partnership provides a platform to identify new business opportunities and develop new partnerships in the UAE Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with ECGC Limited (ECGC), the premier export credit agency of India, to explore and bolster the trade and economic cooperation between the UAE and India. In a Memorandum of Understanding (MoU)…

SCCI approves 2021’s operational plan

مجلس إدارة غرفة الشارقة يعتمد الخطة التشغيلية لعام 2021

During 15th periodic meeting , reaffirms full support for business community and entrepreneurs During its 15th periodic meeting, the Sharjah Chamber of Commerce & Industry, SCCI, has approved the operational plan for the year 2021. The plan comprises a set of important objectives, including the Chamber’s full commitment to supporting the business sector, entrepreneurs, and SME owners and helping them overcome the Covid-19-related challenges. This is in line with the directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of…

SMEs in UAE receive more than AED 420 million trade credit

الاتحاد لائتمان الصادرات تؤمّن معاملات تجارية لشركات صغيرة ومتوسطة

 support in first 11 months of 2020 from Etihad Credit Insurance, translating into AED 1 billion secured turnover  Guarantees issued by ECI helped protect liquidity of SMEs and reduce their cost of funds amidst this challenging economic cycle These facilities allow SMEs to request their preferred bank to discount invoices at preferential rate ECI is the first government export credit company in Middle East and Africa to offer UAE SMEs an online trade credit solution to secure trade and export to more than 50 countries Etihad Credit Insurance (ECI), the…

SBWC launches ‘Women of Sharjah’ campaign to mark UAE’s 49th National Day

  Sharjah Business Women Council highlights the role of businesswomen in the social and economic development of the country In celebration of the UAE’s 49th National Day on December 2, the Sharjah Business Women Council (SBWC), and affiliate of NAMA Women Advancement Establishment (NAMA) has launched the ‘Women of Sharjah’ campaign to highlight the achievements of top female entrepreneurs in the emirate, and the contributions they have made to the development journey of the country. The month-long campaign will highlight the accomplishments and progress of four motivated and resilient members…

Al Musharrkh: New decree overhauling foreign ownership rules

 of commercial companies in the UAE opens up local economy to global businesses and investors in an unprecedented way  Presidential decree annuls the requirement for commercial companies to have a major Emirati shareholder or agent, providing full foreign ownership of onshore companies.  Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office (Invest in Sharjah), operating under the Sharjah Investment and Development Authority (Shurooq), and the Regional Director of WAIPA Steering Committee for the MENA region, has asserted that the issuance of the new decree to revamp the UAE Federal Law No. 2…

UAE, UK join hands to boost trade ties, export credit opportunities

المشرخ: تعديلات قانون الشركات تواكب مستجدات سوق الاستثمار العالمي

Etihad Credit Insurance (ECI), the UAE Federal export credit company and the UK Export Finance (UKEF), the UK’s export credit agency, have signed a reinsurance agreement to enhance the competitiveness, scale and scope of both countries’ export industry through strategic partnership and cooperation. The agreement, which was signed by Massimo Falcioni, CEO of ECI, and Louis Taylor, CEO of UKEF, aims to provide a robust turnkey platform, which the two parties can utilise to draw new business opportunities and identify areas for future collaboration to foster a greater trade alliance…