China is expected to lay off 1.8 million workers as part of its efforts to reduce overcapacity in its industrial sectors. Officials from human resources and social security say the job losses will come from the coal and steel industries. China is aiming to remove 500 million tonnes of coal production in the next three to five years. Authorities haven’t yet given a time frame for the work losses to be implemented.
Mubadala, Barings launch $500 million global real estate debt partnership
Abu Dhabi-based Mubadala Investment Company and global investment manager Barings have announced the launch of a $500 million global real estate debt partnership.
UAE, Philippines agree on additional flight rights
The UAE and the Philippines have agreed to expand air services, clearing the way for UAE national carriers to operate additional flights to Manila.
Dubai launches nationwide campaign to combat economic fraud
The Economic Security Centre of Dubai (ESCD) has launched a nationwide awareness campaign to combat economic fraud, under the slogan "Strong Economy… An Aware Society."
DP World launches 36-hour Dubai-Iraq sea link
DP World has launched a 36-hour maritime service linking Dubai’s Mina Rashid with Iraq’s Umm Qasr Port, offering a faster alternative to overland trucking.
Parkin expands into Abu Dhabi under partnership with DAMAC
The paid parking operator Parkin has signed a five-year agreement with DAMAC Properties to manage around 3,600 parking spaces across the developer’s communities in Dubai and Abu Dhabi.
Dubai is introducing a new front licence plate for motorcycles and e-bikes used in corporate delivery services. These vehicles previously carried only rear plates.
The UAE has strongly condemned the drone attack that targeted a logistics base of the United Nations Interim Security Force for Abyei (UNISFA) in the city of Kadugli in Sudan that killed six Bangladeshi peacekeepers and injured eight on Saturday.
The UAE has strongly condemned the Israeli Cabinet’s approval to establish and legalise 19 settlements in the occupied West Bank, stressing that the step is a dangerous escalation and a violation of international law.
