Trade with UAE gets fresh momentum
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.