AD Ports Group, the operator of industrial cities and free zones in Abu Dhabi, has signed an agreement to buy a majority stake in a key dry port in Tbilisi, as the UAE and Georgia aim to boost bilateral ties after signing a Comprehensive Economic Partnership Agreement.
As part of the deal signed with Inveco, AD Ports will acquire a 60 per cent stake in Tbilisi dry port, the company said in a statement on Friday to the Abu Dhabi Securities Exchange, where its shares are traded.
It did not reveal the value of the deal.
A dry port is an inland terminal directly connected by road or rail to a seaport, operating as a hub for the transport of cargo to inland destinations.
The project, currently owned by Inveco and Wilhelmsen, is a logistics hub situated along the Middle Corridor – an emerging trade lane linking manufacturing hubs in Western Asia to consumer markets in Eastern Europe with a combination of sea and dry ports in Kazakhstan, Azerbaijan, Armenia, Georgia and Turkey.
The Middle Corridor is regarded as the shortest trade route between Asia and Europe, covering nearly 7,000km, with a journey time of 10 to 15 days.
The latest deal comes after the UAE and Georgia signed the Cepa in October, which aims to increase bilateral non-oil trade between the two countries to Dh5.5 billion ($1.5 billion) in five years.
AD Ports Group’s investment in the port “is set to deepen trade and investment ties, develop global trade lanes, and generate market access opportunities for UAE and Georgian businesses”, said Minister of State Ahmed Al Sayegh.
The project consists of two land parcels and will be developed in phases, said AD Ports.
By the end of the initial phase, the handling capacity at the port is expected to reach 96,500 twenty-foot equivalent units (TEU), with 10,000 square metres of warehouse and a car storage yard.
After the completion of phase three, the project will have a handling capacity of 286,000 TEUs, 100,000 square metres of warehouse and a significantly expanded car storage yard, AD Ports said.
The project is expected to be completed by the fourth quarter of 2024 and will be operated and managed by AD Ports subsidiary Noatum Logistics.
“By investing in, and operating, new strategic infrastructure and logistics hubs along the Caspian Sea-Black Sea Corridor, AD Ports Group is delivering on our strategy to strengthen global supply chains,” Capt Mohamed Al Shamsi, managing director and group chief executive of AD Ports Group, said.
AD Ports, which has a portfolio spanning 27 terminals, currently has a presence in more than 40 countries. Under Kezad Group, part of AD Ports, it also operates more than 550 square kilometres of economic zones in Abu Dhabi.
The company has been rapidly expanding its presence in recent years. In January, its Spanish operations division Noatum Terminals fully acquired APM Terminals Castellon for €10 million ($11 million) in a move to strengthen operations in the western Mediterranean region.
Last June, AD Ports signed a 50-year agreement with Karachi Port Trust, to boost infrastructure at the port in Pakistan’s commercial hub.
In February, AD Ports, with Kaheel Terminals, also secured a second port concession agreement in Karachi for bulk and general cargo operations. The joint venture plans to invest approximately $75 million in the first two years, with a further investment of $100 million within five years.
The company is also investing $3 million to develop three cruise terminals in Egypt as part of a 15-year concession agreement with the Red Sea Port Authority that covers the Safaga, Hurghada and Sharm El Sheikh ports.
Last year, AD Ports also signed a 30-year concession agreement with the government of the Republic of Congo to manage and operate a multipurpose New East Mole Terminal in the city of Pointe-Noire.
Juvenile arthritis
Along with doctors, families and teachers can help pick up cases of arthritis in children.
Most types of childhood arthritis are known as juvenile idiopathic arthritis. JIA causes pain and inflammation in one or more joints for at least six weeks.
Dr Betina Rogalski said "The younger the child the more difficult it into pick up the symptoms. If the child is small, it may just be a bit grumpy or pull its leg a way or not feel like walking,” she said.
According to The National Institute of Arthritis and Musculoskeletal and Skin Diseases in US, the most common symptoms of juvenile arthritis are joint swelling, pain, and stiffness that doesn’t go away. Usually it affects the knees, hands, and feet, and it’s worse in the morning or after a nap.
Limping in the morning because of a stiff knee, excessive clumsiness, having a high fever and skin rash are other symptoms. Children may also have swelling in lymph nodes in the neck and other parts of the body.
Arthritis in children can cause eye inflammation and growth problems and can cause bones and joints to grow unevenly.
In the UK, about 15,000 children and young people are affected by arthritis.
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
India squads
Test squad against Afghanistan: Rahane (c), Dhawan, Vijay, Rahul, Pujara, Karun, Saha, Ashwin, Jadeja, Kuldeep, Umesh, Shami, Pandya, Ishant, Thakur.
T20 squad against Ireland and England: Kohli (c), Dhawan, Rohit, Rahul, Raina, Pandey, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh.
ODI squad against England: Kohli (c), Dhawan, Rohit, Rahul, Shreyas, Rayudu, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh
'Jurassic%20World%20Dominion'
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
COMPANY%20PROFILE
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Score
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
New Zealand lead three-match ODI series 1-0
Next match: Zayed Cricket Stadium, Abu Dhabi, Friday
MATCH DETAILS
Manchester United 3
Greenwood (21), Martial (33), Rashford (49)
Partizan Belgrade 0
UAE currency: the story behind the money in your pockets
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
