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.


BlackBerry quarterly results beat on software strength

Updated 22 June 2018
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BlackBerry quarterly results beat on software strength

BENGALURU: Canadian software maker BlackBerry Ltd. on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business.
US-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading.
The Waterloo, Ontario-based company said revenue from its enterprise software and services business rose 18 percent to $189 million in the first quarter.
Blackberry, which dominated the smartphone market nearly a decade ago before losing out to Apple Inc’s iPhones and Android devices, has been trying to win investor confidence and make money by selling software to manage mobile devices to corporations and government agencies.
As part of the transition, the company is focusing on making software for next-generation driverless cars based on its QNX platform.
“I am pleased that BlackBerry QNX software is now embedded in over 120 million automobiles worldwide, doubling the install base in the last three years,” Chief Executive Officer John Chen said in a statement.
The company’s net loss was $60 million, or 11 cents per share, for the first quarter ended May 31, compared with a profit of $671 million, or $1.23 per share, a year earlier.
BlackBerry received a one-time arbitration payment of $940 million from Qualcomm Inc. in the year-ago quarter.
Excluding items, the company earned 3 cents per share. Analysts were expecting the company to break even on a per share basis, according to Thomson Reuters.
Total revenue fell 9.4 percent to $213 million, but still beat analysts’ estimate of $208 million.