Dubai Tea Trading Centre registers 26 per cent growth in tea trade during first half of 2010

• Centre transacts 6.2 million kilos of tea in H1 2010
• Overall tea trade through Dubai rises to 64.2million kilos
• Dubai remains 2nd largest export destination for Indian and Sri Lankan teas

The Dubai Tea Trading Centre (DTTC), an initiative of Dubai Multi Commodities Centre (DMCC), has announced a record 6.2 million kilos of tea transacted in the first six months of 2010.

The overall tea trade through Dubai for the first six months of the year increased to 64.2 million kilos, an increase of 11.3 per cent from 58 million kilos, primarily due to favourable growing conditions resulting in higher production in most tea producing countries.

With the recent trend of higher production and favourable climatic conditions in the major producing countries, tea prices have been extremely volatile in the past few months. However, the general trend still continues to remain buoyant as carry forward stocks are low and there is good demand. Read more

UAE companies exploring more trade opportunities in South America

As a result of the UAE trade mission, headed by Dubai Department of Economic Development (DED), Government of Dubai, and its agencies, to South America early this year, new business opportunities particularly in exports of products and services were explored by local companies. Read more

Export Assistance Program to give 33% financial support to UAE exporters

UAE-based small and medium enterprises (SMEs) availing the newly launched Export Assistance Program (EAP) can receive up to 33% of financial support relating to their approved expenses concerning export activities as explained in a series of briefing sessions rolled out by Dubai Export Development Corporation (EDC), an agency of the Government of Dubai’s Department of Economic Development (DED). Read more

UAE to introduce metric systems instead of feet and yard as length measurements

The Emirates Authority for Standardization ‘&’ Metrology (ESMA) is bracing to implement a new system for length and distance measurement units in all official transactions in the UAE. Read more

GCC Retail Summit to identify key drivers behind growth

More than 200 of the Gulf’s leading retail executives are set to participate in extensive discussions, which involve client studies and high-level workshops that will help the GCC’s retail sector recognize significant factors behind its continued growth. Read more

New Financial Assistance Scheme to Help SMEs Boost Exports

The Dubai Export Development Corporation (EDC), an agency of the Government of Dubai’s Department of Economic Development, has launched its new Export Assistance Program, which would provide financial assistance to aspiring and current exporters. Read more

UAE Non-Oil Trade Rises to AED 59.6 Billion in May 2010

The primary statistical data of the Federal Customs Authority confirmed the growth of non-oil trade volume of the UAE with a rate of 14% by the end of May 2010 compared with the same period in 2009, as the total trade volume rises from 52.075 billion Dirhams in last May to 59.604 billion Dirhams in May this year.

The Federal Customs Authority stated in a press release today that the primary statistical data showed a growth in the country’s exports of non-oil products to the outside world by 65% during that period from 4.353 billion Dirhams in May 2009 to 7.197 billion Dirhams in May 2010, while the re-exports item witnessed a growth rate of 22%, with a rising value from 11.26 billion to AED 13.763 billion Dirhams, and the item of imports grow by 6%, with a rising value from 36.463 billion to AED 38.644 billion Dirhams for the same period. Read more

United Arab Emirates Retail Report Q3 2010

The Q310 UAE Retail report forecasts that the country’s retail sales will grow from an estimated AED69.28bn (US$18.87bn) in 2010 to AED90.71bn (US$24.70bn) by 2014. Key factors behind the forecast are strong underlying economic growth, despite the recent problems in Dubai, increasing household consumption, growing acceptance of modern retailing concepts and expatriate wealth. The UAE’s nominal GDP in 2010 is predicted to be US$300.7bn, with 2009’s 3.4% decline expected to turn into growth of 2.1% in 2010 as the economy begins to recover. We predict average annual GDP growth of 4.3% between 2010 and 2014. With the population increasing from an expected 4.7mn in 2010 to an estimated 5.1mn by 2014, GDP per capita is forecast to rise by the end of the forecast period to US$78,421. Read more

Dubai Duty Free Wins ‘Brand of the Year’ From Superbrands

Superbrands Middle East today announced that Dubai Duty Free has won the ‘Brand of the Year’ at the sixth annual Superbrands tribute event, which was held at the Intercontinental Dubai Festival City. The country’s strongest brands were individually honoured at the event, which also saw the unveiling of the 2010 Superbrands book featuring many of the country’s best brands. Dubbed globally as the ‘Oscars of Branding’, the event was attended by the country’s most prominent senior business, marketing and branding executives.

“The tribute event is a celebration of many of the country’s strongest brands and in turn recognition of the people who work hard to ensure the success of their brands. We are happy to announce that Dubai Duty Free was voted ‘Brand of the Year’ for 2010 as they scored the highest points amongst all the brands. Despite the global economic slowdown, Dubai Duty Free has overcome the challenges faced by the global airport retail sector with its innovative promotions and initiatives, which have proven to be a huge success,” said Mr. Mike English, Director, Superbrands Middle East.

“Even after 26 years of success, Dubai Duty Free is a brand that continues to excel and grow – a perfect example of a Superbrand. They are one of the most trusted and recognized brands internationally. We would like to congratulate them on this feat and wish them even more success in their future endeavours,” Mr. English added.

Dubai Duty Free has received many national and international awards in recognition of its customer service, trend-setting retail initiatives and marketing. Dubai Duty Free, which achieved record sales of US$1.14 billion in 2009, has been acknowledged as the largest single duty free operation in the world.

Accepting the award on behalf of Dubai Duty Free, Managing Director Colm McLoughlin said, “We are delighted to receive the top Superbrands award and thank the council members and associates for voting for Dubai Duty Free. As a brand, we have always understood the importance of marketing and in having a meaningful relationship with our customers, our suppliers and our own employees. This award reflects our efforts over the past 26 years.”

Sixty two top brands were awarded the Superbrands status out of thousands available in the UAE. The brands that scored more than 80% of the total possible marks were declared Superbrands by the Brand Council. To win this accolade is a powerful endorsement and evidence for existing customers, potential customers, the media, suppliers, investors and employees of each brand’s exceptional status.

The Superbrands Council, which comprises of some of the leading names in UAE business circles, compile the shortlist which is then scored online by more than 2,500 marketing professional. The brands which meet the stringent criteria set by the council are awarded with Superbrands status.

Most of the selected brands appear in the Superbrands UAE book, which traces the history and achievements of each of the brands. The 2010 Superbrands book is a coffee table book, which includes a two-page profile of each Superbrand tracing the foundation and development of the brand and a ‘Things You Didn’t Know section’ highlighting interesting facts about the brand and its unique achievements.

Jacky’s Electronics Scoops Superbrand Award For Fifth Time

Jacky’s Electronics – the UAE’s leading chain of Electronics, Entertainment and Telecommunications stores – has for the fifth time scooped a Superbrand Award at a special ceremony held at the Intercontinental Hotel in Dubai Festival City.

“The award this year is especially sweet for us considering the fact that we’re receiving it a day before our 40^th anniversary,” said Jacky Panjabi, Group Managing Director, who founded the Jacky’s Group of Companies on 21^st July, 1970 in Hong Kong. Read more

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