Sheikh Mohamed in a meeting with Li Keqiang, Premier of the State Council of China (4th right), at the Great Hall of the People in Beijing on Monday. WAM
Dubai-based global developer Emaar will jointly implement with Beijing Daxing International Airport an Dhs40.5 billion (US$11 billion) project including the five square kilometre land area of the 50 sq. km airport.
Chinese President Xi Jinping said on Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project.
The Pavilion reflects the vision of the UAE’s wise leadership to develop and enhance the sector, which transformed the desert into a series of green oases, following clear strategies and initiatives, and drawing on the latest and most advanced agricultural technologies.
The logistics industry in the UAE is in for big growth with more logistics parks coming up in Dubai and Abu Dhabi and Chinese companies are set to invest more than $4 billion (Dhs14.68 billion) in logistics projects in Dubai and Abu Dhabi,
Spot gold jumped 1.6% to $1,942.45 per ounce by 0816 GMT, rebounding from a 2.5% drop in early Asian trade. US gold futures rose 0.2% to $1,949.40.
The dollar, which has held above a two-year low hit on Thursday of 92.495, was down nearly 0.1% against a basket of currencies at 93.643, after shedding gains made in Asian trading.
Brent crude was up 52 cents, or 1.2%, at $45.02 a barrel by 0648 GMT, after falling around 1% on Tuesday. West Texas Intermediate oil was up 49 cents, or 1.2%, at $42.10 a barrel, having dropped 0.8% in the previous session.
Britain officially entered recession in the second quarter after gross domestic product (GDP) contracted by 2.2 per cent in the first three months of the year. The technical definition of a recession is two quarterly contractions in a row.