The Abu Dhabi Investment Office and the Office of the Chinese Business Council have signed a memorandum of understanding to explore co-operation in a number of key areas to help support inward investment.
Commenting on the agreement, Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development, said: “The signing of this MoU indications the strength of business and trade relations between the UAE and China. Through ambitious joint projects run by public-private sector partnerships and attracting foreign investment, Abu Dhabi is charting a course towards greater economic diversification, liberalisation, sustainability, an enhanced non-oil export capacity.”
The Abu Dhabi Investment Office aims to draw international investment into the UAE capital to help economic diversification efforts across a range of sectors.
The UAE expects its non-oil bilateral trade with China to rise more than 9 per cent this year and reach $58 billion
Listen: Business Extra podcast: How energy security drives UAE-China relations
China, the UAE's top trading partner in 2017, signed on Friday 13 memorandums of understanding and agreements that covered a range of sectors including energy and e-commerce as part of the three-day state visit of President Xi Jinping.
The Abu Dhabi Investment Office and Chinese Business Council co-operation agreement will include trade and investment promotion activities such as co-hosting events and the exchange of information relating to markets, workforce, local demand, imports and exports, and trade and investment facilities.
They will also explore the development of a platform to encourage dialogue between companies to complement official ties.
Ahmed Bin Ghannam, CEO of Abu Dhabi Investment Office, said: “Abu Dhabi Investment Office is delighted to sign this Office of the Chinese Business Council, which signifies both the strength of Abu Dhabi’s economic links with China’s business sector and our commitment to working with strategic partners to maximise synergies for successful investment through bilateral cooperation for ease of business and the growth of trade between our two countries.”
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
