Trade with UAE gets fresh mo­men­tum

China Daily (Canada) - - BUSINESS -

Trade ties between the United Arab Emi­rates and China have re­ceived fresh mo­men­tum thanks to a visa waiver agree­ment and direct yuan trad­ing, a UAE of­fi­cial said on Tues­day. Ah­mad Muhamed bin Ghan­nam, Acting Ex­ec­u­tive Direc­tor of the In­ter­na­tional Eco­nomic Re­la­tions Sec­tor at Abu Dhabi Depart­ment of Eco­nomic De­vel­op­ment, made the re­marks at the one-day Abu Dhabi China In­vest­ment Fo­rum 2016. The bi­lat­eral re­la­tions between the Gulf Arab state, a ma­jor oil sup­plier, and China are based on mu­tual respect, the will to grow to­gether and friend­ship, he said. COM­PA­NIES& MAR­KETS rise or fall by 2 per­cent from the cen­tral par­ity rate each trad­ing day. The cen­tral par­ity rate of the yuan against the US dol­lar is based on a weighted av­er­age of prices of­fered by mar­ket mak­ers be­fore the open­ing of the in­ter­bank mar­ket each busi­ness day. 0.03 per­cent higher at 101.32 yuan. The June 2017 con­tract closed 0.02 per­cent higher at 101.01 yuan. The con­tracts are agree­ments to buy or sell trea­sury bonds at a pre­de­ter­mined price and set date. They al­low in­vestors to bet on and profit from the move­ments in the value of the bonds. in the first quar­ter of 2018, Mo­hamed Juma al-Shamisi said.

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