DP World’s Jebel Ali Port has reported its largest volume of containers handled in a month since 2015, as the UAE’s non-oil foreign trade surges on the back of comprehensive economic partnership agreements.
Dubai’s flagship port handled 1.4 million TEUs (Twenty-Foot Equivalent Units) of containers in July, state news agency Wam said on Friday.
This follows a strong performance in the first half of 2024, with the port handling 7.3 million TEUs, up 3.9 per cent year -on- year, driven by “strong inbound cargo movement, particularly from key Asian markets including China, Japan and the Republic of Korea,” the report said.
“For over 45 years, Jebel Ali has been a catalyst for the growth of trade and the economy in Dubai and the wider region,” Sultan Bin Sulayem, chairman and chief executive of DP World Group, said.
“As one of the largest and most efficient ports in the world, it remains a cornerstone of our global network, significantly contributing to Dubai's economic vision and regional trade.”
The announcement comes as the UAE continues to forge strong trade ties with different countries globally as it seeks to boost non-oil foreign trade to more than Dh4 trillion ($1 trillion) by 2031.
In the first half of this year, the country’s non-oil foreign trade hit a record Dh1.4 trillion, up 11.2 per cent on an annual basis amid a 25 per cent surge in non-oil exports on new Cepas, according to the Government Media office on Sunday.
The UAE’s non-oil exports to its top 10 trade partners grew by 28.7 per cent during the period, while with all the other nations, it recorded a 12.6 per cent increase.
Cepas aim to reduce tariffs and remove bottlenecks that hamper trade with different countries.
The UAE is aiming to sign 26 Cepas. While deals have been reached with India, Turkey, Israel, Indonesia, Cambodia, Georgia, South Korea, Chile and Mauritius, talks are under way with Serbia, Vietnam, the Philippines, New Zealand and Ecuador.
Overall, Cepas are expected to add about 2.6 per cent to the UAE's economy by 2030, according to Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.
DP World is also expanding its Jebel Ali Port and has started the construction of its new agri-terminals complex as part of efforts to bolster the UAE’s food security, it said in February.
The company is investing Dh550 million in building the new unit along with Adroit Overseas Canada and Al Amir Foods.
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
More on animal trafficking
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,200m. Winner: Majd Al Megirat, Sam Hitchcott (jockey), Ahmed Al Shehhi (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m. Winner: Dassan Da, Patrick Cosgrave, Helal Al Alawi
6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Heba Al Wathba, Richard Mullen, Jean de Roualle
6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m. Winner: Jawal Al Reef, Richard Mullen, Ahmed Al Mehairbi
Handicap (TB) Dh100,000 (T) 2,200m. Winner: Harbour Spirit, Adrie de Vries, Jaber Ramadhan.
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
