Emirates Press

ABU DHABI, 30th May, 2022 (WAM) — Abdullah bin Touq Al Marri, Minister of Economy, will head an economic and commercial delegation on a visit to Kyrgyzstan from 31st May to 3rd June, 2022.

The delegation seeks to discuss ways of strengthening the commercial and investment cooperation between the two countries.

The visit will include a joint business forum, official governmental meetings, and field visits to the free economic zone in Bishkek and to companies and facilities in the food, beverage, construction, textile and clothing sectors.

The visit will also see the signing of Memorandums of Understanding between Federation of UAE Chambers of Commerce and Industry, the Eurasian Economic Commission, and Kyrgyzstan’s Chamber of Commerce and Industry.

Dr. Mohammed Saeed Mohammed Al Ariqi, UAE Ambassador to Kazakhstan and Non-Resident Ambassador to Kyrgyzstan, and Abdilatif Jumabaev, Ambassador of Kyrgyzstan to the UAE, will join the Emirati delegation during their visit. The delegation will include representatives of federal and local government agencies and the private sector, with private sector representatives constituting more than 70 percent of the delegation.

The visit aims to usher in a new era of joint economic and commercial cooperation between the two countries, with target sectors including agriculture, food industries, manufacturing, transport, logistics and tourism.

Source: Emirates News Agency

ABU DHABI, 30th May, 2022 (WAM) — The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has issued a consultation paper to invite public feedback and comments on the proposed amendments to its commercial legislation.

As part of the ongoing enhancement of ADGM’s regulatory framework, the RA is proposing changes including the introduction of a late filing fees framework – rather than attracting a penalty, certain late filings will attract a late filing fee of US$150 per month, capped at three months.

The changes also include the introduction of a commercial licence renewal obligation, under which a licenced person will be allowed a grace period, such that no late renewal fee will be payable where an application is made to renew a licence within one month following its expiry (provided the renewal application is approved); a late renewal fee (US$150 per month, capped at three months) will be payable where an application to renew a licence is submitted more than one month after its expiry; and a requirement on licenced persons, who do not intend to renew their commercial licence, to notify the Registrar of that intention and take steps to terminate their operations/registration in ADGM within a set timeline; failure of which will attract a penalty.

The RA’s proposed changes comprise various miscellaneous amendments, including but not limited to providing for a simplified strike off process for companies and LLPs; amending the definition of ‘working day’ to align with the changes introduced by the UAE government; removing the obligation to have ‘RSC’ on the name of a company – making it optional.

ADGM invited the public to submit feedback and comments on the proposed CSP Framework through consultation@adgm.com.

Source: Emirates News Agency

DUBAI, 30th May, 2022 (WAM) — Emirates SkyCargo, a leader in the global airfreight industry, received delivery of a new Boeing 777F this weekend, increasing its dedicated freighter fleet to 11 aircraft.

From Boeing’s Paine Field in Seattle, A6-EFT headed to Hong Kong to pick up its first load before touching down on Saturday morning at its new home, Dubai World Central, with a full load of freight consisting of electronics, consumer goods and general cargo.

Nabil Sultan, Divisional Senior Vice President, Emirates SkyCargo, said, “Our newest freighter adds welcome capacity to our operations, which have been running at full steam throughout the pandemic to serve our customers and keep global supply chains moving. We are scheduled to receive delivery of a second 777F in June. And in 2023 we will begin a programme to convert four passenger 777 aircraft into freighters and all of the converted aircraft will be re-delivered by end 2024.

“These investments reflect our commitment to serving our customers with the best possible assets, as well as to enabling the movement of vital goods and trade flows through Dubai. Emirates SkyCargo will continue its journey as one of the world’s largest and best air cargo airlines, by investing in our fleet, our global network, technology, and world-class logistics infrastructure at our Dubai hub.”

Emirates SkyCargo currently operates scheduled freighter services to 11 destinations. It also offers shippers cargo belly-hold space in Emirates’ passenger fleet of over 200 wide-body Boeing 777 and Airbus A380s aircraft which serve over 130 destinations on six continents. Last year, Emirates SkyCargo flew over 2.1 million tonnes of cargo.

Source: Emirates News Agency

BEIJING, 30th May, 2022 (WAM) — Beijing has released an action plan for the development of its digital economy to stimulate the vitality of the industry.

The Chinese news agency Xinhua quoted the Beijing Municipal Bureau of Economy and Information Technology as saying that the plan puts forward measures such as improving the supply capacity of digital technology and nurturing the ecology for its innovation.

It focuses on breakthroughs in core technologies in high-end chips, artificial intelligence, key software, blockchain, privacy computing, urban space operating systems and other fields.

Domestic and foreign open-source projects and institutions will be attracted to land in Beijing, and efforts to open and share data will be further intensified, according to the plan.

In the first quarter of 2022, the added value of Beijing’s digital economy reached 387.36 billion yuan (US$57.9 billion), up 7.2 percent year-on-year, accounting for 41.2 percent of the city’s GDP, official data showed.

Source: Emirates News Agency

DUBAI, 30th May, 2022 (WAM) — Sheikha Mozah bint Marwan Al Maktoum, Chairperson of the Women in Aviation Association, has become the first woman to pilot the AW609 tiltrotor, setting a new and important milestone for female pilots in civil aviation.

Sheikha Mozah piloted the revolutionary aircraft during her visit to the US helicopter headquarters of Leonardo, a global high-tech player in Aerospace, Defence and Security, located in Philadelphia.

Commenting on the opportunity to personally test the AW609, the world’s first tiltrotor set to receive civil certification, Sheikha Mozah said, “I’m thrilled to be the first female pilot to test this revolutionary aircraft. It was not only a personal milestone but an opportunity to shatter another glass ceiling for women. I always push myself beyond my limits to prove that if I can do it, it is also within the reach of anyone else who is determined enough to try.”

“Piloting the AW609 has been something I’ve truly wanted to experience since I first saw the early prototype images. It is the natural evolution of my piloting experience, merging both fixed and rotary-winged piloting skills. Aircrafts like the AW609 tiltrotor make me feel really excited about the future of aviation, a future now open to more women who chose this industry,” she added.

William Hunt, Managing Director, Leonardo Helicopters in the US, said, “Leonardo was honored to host Sheikha Mozah bint Marwan Al Maktoum and provide her this one-of-a-kind experience on the world’s first tiltrotor set to achieve civil certification. Demonstrating the AW609’s combined fixed and rotary-winded piloting capabilities was a true milestone for the team in Philadelphia.”

The AW609 is one of the most significant technological innovations in the civil aviation landscape, melding the helicopter’s operational versatility (taking off and landing vertically) and the airplane’s performance advantages (pressurised cabin, speed, altitude and endurance abilities).

The aircraft is set to open new and exciting possibilities for passenger transport and public service. The AW609 tiltrotor’s ability to take off and land vertically and hover like a helicopter offers passengers the comfort of a turboprop airplane.

The aircraft is able to operate different kind of missions, including VIP transport, emergency medical service, search and rescue, and government applications. The AW609 can fly at a speed of more than 500 km/h with a range of almost 1,400 km, which increases to 2,000 km with auxiliary tanks.

Source: Emirates News Agency