Search Site

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Dubai Customs, Dubai Chambers discuss support for private sector

Dubai Customs and Dubai Chambers discussed empowering the new generation of Dubai traders in different sectors and support their expansion plans. (WAM)
  • Dubai Customs, Dubai Chambers discussed their shared plans and strategies, including the electronic integration of services.
  • They also discussed the development of new services to consolidate Dubai’s position as a major global economic hub in the next 10 years.

DUBAI, UAE – Dubai Customs and Dubai Chambers discussed supporting  businesses and the private sector and enhance the emirate’s competitiveness following Dubai’s strategic plans and vision.

These were the highlights of the meeting between Ahmed Mahboob Musabih, Director-General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers who headed Dubai Chambers’ delegation, at Dubai Customs main building.

The two sides discussed their shared plans and strategies, including the electronic integration of services and the development of new services to consolidate Dubai’s position as a major global economic hub in the next 10  years.

They also discussed empowering the new generation of Dubai traders in different sectors and support their expansion plans.

Dubai Customs and Dubai Chambers had previously signed a Memorandum of Understanding on integrating the risk engine related to documents of origin and the ATA Carnet.

“We spare no effort to foster our partnerships with local and external entities, business groups and the private sector as part of the emirate’s vision of doubling external trade to AED25 trillion in the next decade, adding 400 new cities to Dubai’s network, and attracting more investments,” Musabih said.

“Dubai Customs provides advanced services to streamline procedures and grow RoI for businesses,” he said..

“We have discussed important topics to push our partnership towards more sustainable development and economic prosperity in Dubai,” he added.

Lootah described the strategic partnership with Dubai Customs as a model to be followed in reinforcing Dubai and the private sector’s competitiveness, supporting companies in the emirate in their expansion efforts and delving into new markets.

He said, “Dubai Chambers is committed to achieving a number of strategic objectives to serve the private sector and enhance the emirate’s position as a preferred global hub for business.”

He added, “This includes opening new offices in promising global markets to support development plans and Dubai’s external trade.”

Lootah said, “Our continuous dialogues and meetings with Dubai Customs are fruitful and essential within our common goal to augment the business environment, attract global firms and investments, support the digital economy and facilitate Dubai companies’ global expansion.”