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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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Dubai Customs makes 25.7m transactions, above 2100 seizures in 2022

During the meeting, Dubai Customs presented a series of projects and initiatives, including the "Etibaat" initiative.
  • Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million.
  • It was active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.

Dubai, UAE– Dubai Customs has completed 25.7 million customs transactions and made 2,147 seizures in 2022, while also winning several global awards besides launching a number of products to reduce cost for clients and increase their revenue, the Customs said.

Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million. The department has also been active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.

“Boosting Dubai external trade and facilitating business for traders and investors is a priority in our strategic planning following,” said Ahmed Mahboob Musabih, Director-General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation.

“This will consolidate the emirate’s position on the global competitiveness indexes and indicators and grow mutual trade,” he said.

Musabih said the Customs was working on the Strategic Plan 2021-2026, which stands on five principles: Agile, Innovative, Digital, Disruptive, Visionary, following “four main objectives to enhance revenues, reduce costs, and maintain the organization’s leading role worldwide”.