The UAE’s exports of aluminium to Japan rose more than 41 per cent last year, making it the largest supplier of the metal from the Arabian Gulf last year, according to the latest trade figures from Jetro Dubai.
Overall two-way trade between the two countries, however, rose a marginal 0.54 per cent to $51.29 billion last year from $51.01bn in 2013. Japan’s exports to the UAE gained 12 per cent in 2014 and imports fell slightly amid a price in the drop of crude.
Japan bought $730.9 million worth of aluminium from the UAE in 2014, versus $517m the previous year.
The metal has been at the forefront of the UAE’s efforts to diversify its economy from being overly reliant on hydrocarbons.
That has become especially urgent after crude oil lost half its value last year amid an increase in supply from North America and waning demand from emerging markets such as China.
The value, however, of Japanese aluminium imports from the UAE may decline next year if the price of the precious metal continues to slip.
The price of aluminium traded in London has dropped 2.3 per cent this year amid an increase in production from China.
Still, overall the value of total Japanese imports from the UAE dropped to $41.78bn last year from $42.52bn in 2013, with the lion’s share, $31.97bn, going to buy crude oil versus $33.28bn in 2013.
Meanwhile, Japanese exports to the UAE gained about 12 per cent to $9.5bn compared with $8.49bn in 2013, boosted by a 31 per cent increase in passenger car sales, which cost the UAE a total of $3.39bn.
While crude oil prices declined in 2014, the US dollar, to which the UAE dirham is pegged, gained against most of the world’s currencies last year, and that allowed the country to import more for less from countries such as Japan.
Japan is the UAE’s biggest export partner, constituting 17.1 per cent of the value of all exports, while it is the fifth biggest source of imports after India, China, the United States and Germany, according to statistics on a government website.
The Japanese have also been ramping up their ties with the UAE to produce other metals. Senaat, the state-owned Abu Dhabi-based holding corporation, said last month it has entered a joint venture with two Japanese steel makers to build steel pipes for industrial use.
mkassem@thenational.ae
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Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
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Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
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5pm: Handicap (PA) | Dh80,000 | 1,600 metres
Winner: Dasan Da, Saeed Al Mazrooei (jockey), Helal Al Alawi (trainer)
5.30pm: Maiden (PA) | Dh80,000 | 1,600m
Winner: AF Saabah, Tadhg O’Shea, Ernst Oertel
6pm: Handicap (PA) | Dh80,000 | 1,600m
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6.30pm: Handicap (PA) | Dh80,000 | 2,200m
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7pm: Wathba Stallions Cup Handicap (PA) | Dh70,000 | 1,400m
Winner: RB Inferno, Fabrice Veron, Ismail Mohammed
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Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
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Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
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Sector: Technology, Security
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The specs
Price, base / as tested Dh960,000
Engine 3.9L twin-turbo V8
Transmission Seven-speed dual-clutch automatic
Power 661hp @8,000rpm
Torque 760Nm @ 3,000rpm
Fuel economy, combined 11.4L / 100k
Global state-owned investor ranking by size
1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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Saudi Arabia
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10.
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South Korea
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Warlight,
Michael Ondaatje, Knopf
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Scorebox
Sharjah Wanderers 20-25 Dubai Tigers (After extra-time)
Wanderers
Tries Gormley, Penalty
Cons Flaherty
Pens Flaherty 2
Tigers
Tries O’Donnell, Gibbons, Kelly
Cons Caldwell 2
Pens Caldwell, Cross
The Lost Letters of William Woolf
Helen Cullen, Graydon House