Non-oil trade at Dubai’s Jebel Ali Free Zone hits $80.2 billion in 2016

China kept its position as the free zone’s major player with $11.3 billion worth of non-oil goods, equipment and commodities being shipped in via the Jebel Ali port. (AP)
Updated 13 August 2017
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Non-oil trade at Dubai’s Jebel Ali Free Zone hits $80.2 billion in 2016

DUBAI: Non-oil trade at Jebel Ali Free Zone rose 17 percent to $80.2 billion (SR300.75 billion) or an equivalent 27.9 million tons in 2016, from 23.9 million tons a year earlier.
China kept its position as the free zone’s major player with $11.3 billion worth of non-oil goods, equipment and commodities being shipped in via the Jebel Ali port; followed by Saudi Arabia with $7 billion; Vietnam with $4.3 billion and the US with $3.7 billion.
Machinery, electronics and electrical goods accounted for almost half of the total trade at Dubai’s main trade and logistics hub, while petrochemicals and the oil and gas sector had 16 percent; followed by food and fast-moving consumer goods at 8 percent; textiles and garments at 7 percent and automotive and spare parts at 6 percent.
“The value and volume of trade through Jafza underlines the strength of the national economy and its ability to adapt to global trading conditions, create investment opportunities and open up new markets to exports from the UAE,” Sultan Ahmed bin Sulayem, the group chairman and chief executive of DP World, said in a statement.
Trade with the Asia Pacific region in 2016 reached $32.4 billion; with the Middle East at $27.2 billion; the European continent at $9.9 billion; the Americas at $5.5 billion and Africa at $5 billion.
“Jebel Ali Port plays a pivotal role in enabling international trade so companies operating in Jafza can import and re-export their goods and products to the various countries of the region,” bin Sulayem said, noting Dubai’s logistics corridor, which connects the port with Al Maktoum International Airport in a single customs zone, helps reduce the sea-to-air time constraint in the movement of goods.
“Reducing the time taken for the movement of goods between sea and air transport modes and making the area the main transit gateway in the Middle East,” he said.


Uber to appeal Singapore’s competition watchdog decision on Grab deal

Updated 22 October 2018
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Uber to appeal Singapore’s competition watchdog decision on Grab deal

  • ‘Our objective is not to challenge the remedies of the decision’
  • ‘we aim to clarify that the conclusion that our transaction with Grab led to a substantial lessening of competition’

SINGAPORE: Uber Technologies has decided to appeal a decision by the Singapore competition regulator that its merger with regional rival Grab violated the city-state’s competition laws, the firm said on Monday.
“Our objective is not to challenge the remedies of the decision, which are in fact almost identical to the commitments that Uber and Grab voluntarily offered to the CCCS (Competition and Consumer Commission of Singapore),” Uber said in a statement.
“Rather, we aim to clarify that the conclusion that our transaction with Grab led to a substantial lessening of competition, and that Uber intentionally breached the law, is unsupported and incorrect,” it added.
Last month, Singapore slapped ride-hailing firms Grab and Uber with fines and finalized restrictions to open up the market to competitors after concluding that their merger had driven up prices.
Uber sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a 27.5 percent stake in the Singapore-based firm.