Bilateral trade between Dubai and China touched AED 36 billion in the first quarter of this year, after reaching AED 139 billion in 2018.
That's according to a statement released by Dubai Customs in conjunction with the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China.
China has been the emirate's top trading partner since 2014, with telecoms, phones, personal computers, aluminium, gold and automobiles topping the list of the most traded commodities between the two sides.
As many as 876 active Chinese businesses are currently registered with Dubai Customs, including 623 firms holding trade licences, 244 licenced free-zone establishments, and nine companies with professional licences.
Dubai Customs is already utilising some of China’s most advanced, state-of-the-art screening and inspection technology to scan containers, goods, vehicles and passengers across its various centres, including in the flagship Port of Jebel Ali and at the Dubai International Airport.
Netflix is cutting about 6 per cent of its workforce, or roughly 1,000 jobs, in its biggest round of layoffs since 2022, the Wall Street Journal reported on Wednesday, citing an email sent to employees.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has explored opportunities for cooperation in the banking sector during talks with Bernard Mensah, President of International for Bank of America.
Small AI models may be only months away from being able to copy themselves onto everyday internet-connected devices, such as smart ovens and cheap Android TV boxes, according to research published by Anthropic on Monday.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has praised the progress of the Dubai Cashless Strategy, with cashless transactions now accounting for 90.1 per cent of all transactions in the Emirate.
The Dubai Integrated Economic Zones Authority (DIEZ) has announced the doubling of the venture capital fund managed by its investment arm, Oraseya Capital, from AED500 million to AED1 billion.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has congratulated 30 UAE nationals for completing the Mohammed bin Rashid Leadership Development Programme.
Dubai’s Roads and Transport Authority (RTA) has converted Al Satwa Roundabout to a signalised intersection to cut travel time between key corridors by 50 per cent and reduce traffic queues by up to 60 per cent during peak hours.