Photo used for illustrative purpose.
Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, announced that the UAE has created its own standard for good delivery in the gold trade, which constitutes a qualitative leap in the sector, stressing during a press conference that the standard adopted in Dubai will be circulated in the Emirates.
In the UAE, there are 28 gold smelters, while the state’s trade in gold and diamonds amounted to Dhs365 billion in 2020, making up a quarter of its non-oil trade.
Al Zeyoudi said that the standard would require refiners to properly scrutinise suppliers and prove to outside auditors they have done so.
On the sidelines of the conference, Ahmed Bin Sulayem, CEO of the Dubai Multi Commodities Center, said that the allegations that the Dubai exchanges did not do enough to regulate the gold trade in them are false and untrue, noting that these allegations were made by some foreign regulators and organizations. Non-governmental organizations aim to damage the reputation of the UAE.
He stressed, "These allegations and attacks are unfounded."
The 100 per cent foreign ownership in the UAE is indeed a great step forward among a series of other reforms that the UAE has boldly undertaken over the years to increase cost competitiveness.
Anum Baqai pointed out that the UAE will have a bright future with the convening of the Expo 2020 Dubai in early October, and "we have great expectations and are certain of the success of this event." Baqai expressed her happiness to be in the UAE, where she has been residing for 11 years.
Saif Ahmad Belhasa, a renowned Emirati entrepreneur, who is also followed by some of the most prominent names of the world, owns Fame Park, which is an exotic animal farm not open to the public, but for celebrities and pre-eminent personalities of the world.
The minister wants to "make new partners for solving global challenges and deepen relations with existing partners in the UAE and broader Gulf region," a press release by the Consulate General of the Kingdom of the Netherlands said.
Russia edged closer to default on Sunday amid little sign that investors holding its international bonds had received payment, heralding what would be the nation’s first default in decades.
The Sharjah Chamber of Commerce & Industry (SCCI) organised a business meeting with the Embassy of the Republic of North Macedonia
A sustainable project is an important, not to mention bold, commitment by a developer to furthering the field of sustainable development in the construction industry.