UAE Govt Annual Meetings Unveil 8 Projects, National Initiatives

The annual meetings of the UAE government were held this week in the presence of President Sheikh Mohammed bin Zayed Al Nahyan. (WAM)
The annual meetings of the UAE government were held this week in the presence of President Sheikh Mohammed bin Zayed Al Nahyan. (WAM)
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UAE Govt Annual Meetings Unveil 8 Projects, National Initiatives

The annual meetings of the UAE government were held this week in the presence of President Sheikh Mohammed bin Zayed Al Nahyan. (WAM)
The annual meetings of the UAE government were held this week in the presence of President Sheikh Mohammed bin Zayed Al Nahyan. (WAM)

The UAE revealed eight national projects and initiatives as part of the outcomes of the annual meetings of the UAE government, which were held this week in the presence of President Sheikh Mohammed bin Zayed Al Nahyan, Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum and the participation of more than 500 officials.

The meetings witnessed the launch of the “We the UAE 2031” plan, which targets a new stage of sustainable development in the country, and sets a roadmap for the development path for the next 50 years.

The meetings also saw the announcement of an increase in support for the salaries of citizens in both the private and banking sectors, and the expansion of the covered sectors and specializations. The move aims to attract the largest number of national job seekers and encourage them to work in the private and banking sector institutions.

The new initiative will also contribute in building partnerships and supporting more than 170,000 beneficiaries in both the private and banking sectors during the next five years.

The strategic plans also included the Emirates Villages Project, which aims to create a sustainable development model that suits all regions in the country, and benefits from the human energies and natural potentials of each region.

The project seeks to create economic and investment opportunities that achieve social stability, and to provide appropriate economic openings in villages and remote areas.

The project is based on five development tracks, where the Emirates Council for Balanced Development will seek during the next five years to achieve a set of goals that focus on creating a micro-economy in 10 villages.

The annual meetings of the UAE government also saw the signing of seven major partners’ agreements for social contribution in support of the "Emirates Villages" project, with a value of 200 million dirhams ($54.4 million).



Saudi Arabia's SAL Expands Logistics Options as Global Trade Map Shifts

A SAL booth at the Saudi Warehousing & Logistics Expo (Asharq Al-Awsat)
A SAL booth at the Saudi Warehousing & Logistics Expo (Asharq Al-Awsat)
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Saudi Arabia's SAL Expands Logistics Options as Global Trade Map Shifts

A SAL booth at the Saudi Warehousing & Logistics Expo (Asharq Al-Awsat)
A SAL booth at the Saudi Warehousing & Logistics Expo (Asharq Al-Awsat)

The speed and cost of transporting shipments are no longer the only factors determining companies' choices in the logistics services market. Geopolitical disruptions and changes in global trade routes have redefined the concept of supply chain efficiency. Securing transportation alternatives, the ability to shift quickly between routes and modes of transport, and ensuring the uninterrupted flow of goods have become more prominent factors in customer decisions.

In Saudi Arabia, this shift is reflected in growing demand for integrated logistics services, alongside the expansion of industrial activity, imports, and infrastructure investment. Companies operating in the sector are taking advantage of this trend to expand their operational capabilities and develop solutions that combine air, land, and sea transport, providing greater flexibility in response to changes in global trade.

SAL is among the leading beneficiaries of this demand, having recorded its highest quarterly revenue in its history during the second quarter of this year, at SAR512.1 million ($136.6 million), up 30 percent year on year. Net profit rose 18 percent to about SAR191 million ($50.9 million). In the first half of the year, revenue increased 23.1 percent to SAR957.9 million ($255.4 million).

Rayan Al-Bakri, CEO of SAL's logistics business, said that "reliability and flexibility have become among the most important factors influencing customer decisions and global supply chains." He noted that when certain trade routes or transportation channels face operational challenges or unexpected changes, customers turn to solutions that ensure business continuity and speed of access to markets.

He added in an exclusive statement to Asharq Al-Awsat that SAL is seeing growing interest in integrated logistics solutions that combine more than one mode of transport according to each customer's needs. He explained that the company does not view air or land freight as direct alternatives to sea transport, but rather as complementary elements within a single system designed to achieve efficiency and flexibility in the movement of goods.

Al-Bakri said that "goods always find a way to reach the end customer, with the means varying," noting that the company continues to leverage strategic partnerships to expand logistics connectivity options for customers.

In this context, he pointed to SAL's cooperation with SPARK Logistics to activate a new land corridor between the Port of Sohar in Oman and the dry port at King Salman Energy Park (SPARK). He said the route strengthens regional trade flows and increases the flexibility and reliability of supply chains.

He also pointed to increased operating capacity at airports and the provision of solutions to receive and accommodate demand from customers and partners in the domestic and Gulf markets, alongside connecting airports through an integrated operating network to enhance supply chain flexibility.

Positive Demand Outlook

Al-Bakri views the outlook for demand for SAL's services positively in the coming period, amid continued growth in inbound shipments and expanding imports of spare parts and equipment related to industrial activities, as well as rising demand for more integrated and flexible logistics solutions across the region.

According to Al-Bakri, this outlook is based on several factors, including the diversity of the customer base, the expansion of specialized logistics services, and the investments the company is making to strengthen its operational capabilities and infrastructure.

Domestic consumption and the building of strategic inventories for most products are also creating opportunities for sustainable growth across the sector as a whole.

At the same time, the sector is dealing with a range of global variables that could affect profitability and operating costs, including transportation, insurance, and energy costs, as well as geopolitical developments that could affect international trade flows.

Al-Bakri said SAL is focusing instead on improving operational efficiency, increasing productivity, leveraging modern technologies, and diversifying revenue sources to support sustainable performance over the long term.

He added that the ability to adapt quickly to changes, along with operational discipline and continued investment in value-added services, would remain among the key factors supporting the company's performance in the coming period, ensuring business continuity and maintaining service levels for partners and customers across different sectors and services.

Infrastructure Expansion

Investment in infrastructure and operational capabilities is a key part of SAL's growth strategy. The company is working on a range of parallel initiatives aimed at increasing operational readiness, enabling the logistics sector, and strengthening the Kingdom's position as a global logistics hub.

Al-Bakri said the company's current priorities include expanding operational capabilities at airports across the Kingdom, developing SAL logistics zones, and investing in digital solutions and smart technologies that improve operational efficiency and accelerate the flow of shipments through the various stages of the supply chain.

SAL is also focusing on developing infrastructure that supports specialized services and integrated logistics solutions in line with the needs of the Kingdom's vital and growing sectors.

In this context, Al-Bakri said the company is continuing to expand its international presence through the acquisition of Aviapartner Liège, strengthening connections between its customers and one of Europe's air cargo hubs and supporting SAL's reach across global trade routes.

At the same time, the company is expanding its network of global partnerships supporting the development of advanced infrastructure and logistics services. These include two memorandums of understanding signed with CIMC Middle East to explore cooperation opportunities in cargo handling systems, automation, robotics, and autonomous vehicles.

The areas of cooperation include developing facilities and warehouses within SAL's logistics zones and attracting global investments and companies to the Kingdom, strengthening its position as a regional hub for manufacturing, logistics services, and international trade.

Automation and Specialized Services

As part of its digital transformation, SAL continues to invest in modern technologies and smart solutions, including cooperation with Huawei Tech Investment Saudi Arabia to explore applications of artificial intelligence, 5G, and cloud computing in the logistics sector.

Al-Bakri said these efforts support the development of smarter logistics zones, improve operational efficiency, and enhance the customer experience across the various stages of the supply chain.

At the same time, specialized logistics services, particularly pharmaceutical, medical, and temperature-controlled shipments, continue to grow amid the high levels of precision and reliability required by these sectors.

He said these services are becoming increasingly important within SAL's strategy because they require advanced operational capabilities, specialized infrastructure, and specialized expertise, in addition to the value they provide to customers.

According to Al-Bakri, the company continues to accelerate its automation and digital transformation efforts through investment in smart technologies and solutions that improve operational efficiency, handling accuracy, and decision-making speed.

SAL is also focused on sustainability by adopting practices and solutions that contribute to more efficient use of resources and support the objectives of the logistics sector in the Kingdom.

Al-Bakri said the company's direction is to expand specialized and integrated services, support them with modern technologies, and develop more sustainable logistics solutions that meet customer expectations and keep pace with the transformation taking place in the sector at both the regional and global levels.


Saudi Aramco Boss Says Global Oil Stockpiles 'Scarily Thin'

Saudi Aramco's chief executive Amin Nasser - Reuters
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Saudi Aramco Boss Says Global Oil Stockpiles 'Scarily Thin'

Saudi Aramco's chief executive Amin Nasser - Reuters

Global oil stockpiles are "scarily thin" owing to the US-Iran war, Saudi Aramco's chief executive Amin Nasser said Monday.

"The system is already straining," Nasser told the Energy Intellligence Forum in London.

"And with precious little else the world can turn to, the supply resilience cushion is scarily thin," he told the two-day conference attended by leaders from across the energy sector.

G7 countries, in coordination with the International Energy Agency (IEA), agreed Friday to immediately release 100 million barrels of diesel and crude oil to ease global energy supply concerns caused by the US-Iran war.

Ahead of the move by the Group of Seven, which includes the United States, President Donald Trump had pressured the European Union to tap its strategic diesel reserves or face an American ban on diesel exports.

Nasser warned Monday against looking at headline figures for reserves, noting that "less than 10 percent" were available.

A large portion of the reserves reported by countries represent the minimum volume required to keep infrastructure operational, he said.

"That's why you find they're struggling with 100 million barrels," he said, referring to the amount announced Friday by the IEA, which comprises 32 nations including the G7.

"Emergency reserves might buy us a winter. They cannot fix long-term supply," Nasser said.

 

 

 

 


EU, China to Hold Beijing Talks to Avert Trade War

Brussels toughened its stance towards Beijing to defend businesses from what it believes is unfair competition in critical sectors including cars. CN-STR/AFP/File
Brussels toughened its stance towards Beijing to defend businesses from what it believes is unfair competition in critical sectors including cars. CN-STR/AFP/File
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EU, China to Hold Beijing Talks to Avert Trade War

Brussels toughened its stance towards Beijing to defend businesses from what it believes is unfair competition in critical sectors including cars. CN-STR/AFP/File
Brussels toughened its stance towards Beijing to defend businesses from what it believes is unfair competition in critical sectors including cars. CN-STR/AFP/File

EU trade chief Maros Sefcovic will head to Beijing on Thursday for two days of make-or-break meetings with Chinese officials to try to stave off a trade war.

The European Union has toughened its stance towards Beijing to defend businesses against what it believes is unfair competition in critical sectors including cars.

Increasingly European leaders and observers warn of a "China Shock 2.0", used to describe Chinese firms' shift into more high-tech manufacturing, which is threatening many traditional EU industries.

The first shock in the early 2000s saw a glut of cheap, more low-tech exports from China hurt manufacturers not just in Europe but around the world.

EU and Chinese officials have been locked in talks since June to address Brussels' concerns about the current trade imbalance.

The EU is simultaneously preparing to boost its trade defense toolbox -- but Beijing has threatened to retaliate against any moves targeting China.

Sefcovic raised the stakes for this week's meetings in summer when he warned the EU expected "tangible results by October" from the process.

But experts cautioned against expecting too much from this week's meetings.

"There may be a few crumbs, but I would not expect any kind of major breakthrough," Penny Naas, director of the Brussels office of German Marshall Fund of the United States (GMF) think tank, said.

There could be "agreements on some specific issues, rather than any broad settlement of the trade relationship", said Zhu Tian, professor of economics at the China Europe International Business School (CEIBS) in Shanghai.

It is clear Brussels is aware the talks won't solve all of its woes, with the commission working in parallel on new tools to protect European industries, which are expected to be presented to leaders in December.

- 'Worrying trends' -

What the EU wants is to cut its trade deficit with China.

It hit around 360 billion euros in 2025, meaning the EU imported far more from the Asian nation than it exported there. China has a lower figure of around $292 billion but expects the deficit to rise further this year.

The EU's trade enforcement chief, Denis Redonnet, said sectors facing "sustained and abnormal" import increases included machinery, textiles, basic metals and chemicals.

There were "potentially worrying trends for almost a quarter of all imports into the EU at the moment", driven mainly by Chinese goods, Redonnet told the European Parliament last week.

Sefcovic said the EU wanted to deliver on three main objectives including tackling export surges from China to the bloc's market, especially in critical sectors, and increasing exports from Europe to China.

Brussels also wanted "a system of export licensing for rare earths and other products" after major producer China introduced restrictions on them last year.

Europe hopes to manage Chinese exports through voluntary limits, for example on hybrid cars shipped to the bloc, but an EU official said Brussels wants to include other products. Beijing has said it firmly opposes import quotas.

China has limited room for maneuver because of weak domestic demand, which means the government relies on exports to sustain growth levels.

- Diversifying suppliers -

Since the bloc does not expect significant changes by China, the EU official, speaking on condition of anonymity, said it was also steaming ahead with preparing new tools.

Several EU nations including France have pushed for a "European equivalent of Section 301" -- the trade tool US President Donald Trump used to probe foreign practices Washington deems discriminatory, and retaliate with tariffs.

Responding to reports last week about such a tool, Beijing warned it would "respond resolutely" to "discriminatory restrictive measures".

The EU knows they are not empty threats: China previously retaliated against the bloc's trade defense moves with duties on European cognac, and conducted anti-dumping probes into pork and dairy products.

Brussels is also developing a tool that would support businesses, through funding, to diversify their suppliers in critical sectors.

It is still unclear, however, how far the EU as a whole would be willing to go against China -- for fear of provoking Beijing.

Germany, which is especially exposed since its biggest trading partner is China, has been especially cautious -- though Berlin's stance has hardened as it worries Chinese overcapacities are hurting its export-led economy.

Europe has "the ability to do something more aggressive to stem this China 2.0 shock", GMF's Naas said. "The question is, will they?"