Search Results for: UAE

Time was that the Gulf was a hotspot for paint and coatings sales and production, with frothy demand fuelled by major building projects – most met by locally manufactured product. But today, demand for paint in the Gulf countries is sluggish due to low oil prices, depressing overall economies and a drop in the number of infrastructure and real estate projects under construction.…

THE NONWOVENS industry in the Middle East and North Africa (MENA) is still struggling with over-capacity, while declining purchasing power has hit the mid- and higher-tier segments, prompting global players to reconsider product offerings.

MENA economies have been impacted by low oil prices and regional instability, with growth forecast at 1.5% this year, down from 1.7% in 2018, according to investment bank JP Morgan.…

Japan is financing a United Nations (UN)-led project to bolster employment and garment design in the West Bank of Palestine. The project was officially launched this month (July), with Japan’s ministry of economy, trade and industry (METI) providing USD446,428 for the United Nations Industrial Development Organization (UNIDO) to spend on promoting “employability for women and youth in the State of Palestine through supporting the garment and textile value chain”.…

Brazilian beef exports to the United Arab Emirates (UAE) saw an increase of 439.84% year-on-year in the first half of 2019, according to figures issued by the Dubai-based Arab Brazilian Chamber of Commerce. Brazilian beef sales to all Arab countries were up 47.62%.…

Just four months before Italy’s much-anticipated Formula One (F1) Grand Prix was set to roar through the Monza racetrack on September 6-8, (2019), a major arrest involving money laundering within FI was made in Dubai. Luigi Provini was handcuffed in the United Arab Emirates (UAE) emirate and placed on a direct flight to Rome, for questioning by Italy’s Financial Police (Guardia di Finanza – GdF).…

MONEY service businesses (MSBs) are having a tougher time operating in compliance with international AMF/CFT rules, especially those in emerging market countries, where they have to deal with a double challenge of tighter controls and derisking by banking partners.

MSBs throughout the Middle East, for instance, have been hit by derisking from correspondent banks as well as designations by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC).…

THE INTERNATIONAL clothing industry needs to take a holistic and assertive approach to fighting intellectual property theft and counterfeiting, which while can be easier to detect today, because of advances in data analysis, still poses a significant threat, an expert USA seminar was told.…

INTERNATIONAL efforts are under way to improve how airports can serve as effective humanitarian logistics hubs, reducing the risk that they become bottlenecks in disaster relief efforts. These moves follow research and a growing consensus in the air and aid sectors that while airports are undoubtedly a lifeline during crises, they can also hamper the efficient delivery of aid to victims.…

THE INTERNATIONAL airport industry is assessing the potential impact of Airbus’ cancellation, from 2021, of its manufacturing programme for the wide-bodied A380 airliner – a plane that sparked multi-million dollar improvements to airports worldwide.

Faced with a reduction in orders from its key supporter, Emirates airline, of the United Arab Emirates (UAE), Airbus announced when releasing its 2018 results on February 14, that its programme to build this ground-breaking large jet would be wound up.…

Ethiopia’s new government is liberalising the country’s politics and economy, with growth projected to be a frothy 8.5% this year. But increased wealth and freedom is increasing the risks posted by commercial crime. Elias Gebreselassie reports from Addis Ababa.

Kiya Tsegaye, a partner at SKY and Associates law office, based in Addis Ababa, Ethiopia’s capital, is used to dealing with local and foreign firms who come to his office frustrated by the increasing numbers and sophistication of commercial crimes in Ethiopia.  …