Etihad Airways and Henan Province Airport Group aim to establish a strategic partnership to strengthen aviation ties between the UAE and China. Photo: Etihad Airways
Etihad Airways and Henan Province Airport Group aim to establish a strategic partnership to strengthen aviation ties between the UAE and China. Photo: Etihad Airways
Etihad Airways and Henan Province Airport Group aim to establish a strategic partnership to strengthen aviation ties between the UAE and China. Photo: Etihad Airways
Etihad Airways and Henan Province Airport Group aim to establish a strategic partnership to strengthen aviation ties between the UAE and China. Photo: Etihad Airways

Etihad Airways to create 'Air Silk Road' between Abu Dhabi and China's Henan province


Deena Kamel
  • English
  • Arabic

Etihad Airways and Henan Province Airport Group, parent company of the Zhengzhou Xinzheng Airport — a major domestic aviation hub and the gateway to central China — have signed a preliminary agreement to boost air cargo ties.

The pact includes plans for Etihad Airways to operate regular cargo services between Abu Dhabi International Airport (AUH) and Zhengzhou Xinzheng International Airport (CGO) to create an air Silk Road between Henan province and Abu Dhabi, the airline said in a statement on Monday.

“Etihad is very excited to see the potential to further expand its cargo footprint in China, and to create the 'Air Silk Road’ between the emirate and central China together with Henan Province Airport Group,” Martin Drew, senior vice president of sales and cargo at Etihad Airways, said.

“This will greatly improve the diversification of product sales and cargo distribution channels in this region and strengthen economic and trade links between the UAE and China, and beyond.”

The move comes amid booming global demand for air freight after the Covid-19 pandemic grounded the large, wide-body passenger aircraft used for carrying cargo.

Global demand, measured in cargo tonne-kilometres, was up 9.4 per cent in October, compared to the same month in 2019, the latest figures from International Air Transport Association show.

Etihad Airways' cargo revenue jumped 56 per cent annually in the first half of 2021 to $800 million as it carried 365.5 tonnes of freight, an increase of 44 per cent from the same period a year ago, partially helping the airline to halve its losses for the period.

Since the start of the pandemic, Etihad Cargo has operated 1,042 flights out of Shanghai and Beijing, carrying more than 65,000 tonnes on its Boeing 777 freighters and passenger freighters, Mr Drew said. Half of the flights carried medical supplies to support the global fight against Covid-19 and equip frontline medical professionals.

Etihad Cargo has restored 90 per cent of its destinations compared with the same period in 2019, while its capacity has increased by 20 per cent.

The partnership will help the two parties “to explore various opportunities under the ‘Air Silk Road’ aviation initiative inspired by the China-proposed ‘Belt and Road Initiative’", Kang Xingzhen, chairman of Henan Airport Group, said.

The deal also covers the scope of co-operation between the two parties to build the CGO airport into an air freight hub in the region and to diversify product sales and cargo distribution channels at Zhengzhou Xinzheng International Airport.

Teams in the EHL

White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Lexus LX700h specs

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Transmission: 10-speed auto

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Price: From Dh590,000

The biog

Name: James Mullan

Nationality: Irish

Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)

Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”

Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”

Credit Score explained

What is a credit score?

In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.

Why is it important?

Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.

How is it calculated?

The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.

How can I improve my score?

By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.

How do I know if my score is low or high?

By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.

How much does it cost?

A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

Keane on …

Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”

Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”

Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”

UAE currency: the story behind the money in your pockets
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Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

Updated: December 27, 2021, 3:45 PM