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UAE, Republic of Congo sign CEPA to advance ties

Under the agreement, tariffs will be eliminated over five years on 99.5 per cent of UAE export lines and 98 per cent of Republic of the Congo export lines

Gulf Business
Gulf Business

09 April, 2025

UAE, Republic of Congo sign CEPA to advance ties
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The UAE and Republic of the Congo signed a comprehensive economic partnership agreement (CEPA) in a move aimed at enhancing bilateral trade and investment flows between the two countries.

The agreement was signed at Qasr Al Bahr in Abu Dhabi during a ceremony witnessed by President Sheikh Mohamed bin Zayed Al Nahyan and Denis Sassou Nguesso, President of the Republic of the Congo.

Signatories included Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Christian Yoka, Minister of Finance, Budget, and Public Portfolio for the Republic of the Congo.

Sheikh Mohamed said the CEPA would serve to strengthen the strategic relationship between the two nations and expand the scope of economic collaboration.

He noted that both countries share a common vision focused on sustainable development and economic diversification, expressing hope that the agreement would mark the beginning of a new phase of cooperation across various commercial sectors.

President Sassou Nguesso welcomed the signing of the CEPA, describing it as a milestone in the pursuit of shared ambitions for economic growth. He affirmed the Republic of the Congo’s commitment to developing its economic partnership with the UAE to support the progress and wellbeing of both nations.

UAE-Congo CEPA eliminates non-tariff barriers

The CEPA eliminates or reduces customs duties, dismantles non-tariff barriers, enhances market access for services exports, and creates new channels for investment.

Under the agreement, tariffs will be eliminated over five years on 99.5 per cent of UAE export lines and 98 per cent of Republic of the Congo export lines.

The deal is expected to raise bilateral non-oil trade from $3.1bn in 2024 to $7.2bn by 2032.

Non-oil trade between the two countries has seen consistent growth, rising by 4.2 per cent in 2024 compared to 2023, 44.4 per cent compared to 2022, 52 per cent compared to 2021, and nearly doubling since 2019.

The CEPA follows the signing of three key agreements in 2023 covering double taxation avoidance, investment protection, and air transport.

The UAE’s broader foreign trade strategy includes forming strategic partnerships globally, aiming to double the size of its economy by 2031.

In 2024, the UAE’s non-oil trade in goods reached a record $817bn, up 14.6 per cent from 2023 and 56.8 per cent higher than 2021. CEPA deals are a core part of the country’s ambition to reach $1.1tn in total non-oil trade by 2031.

Read: CEPA programme – UAE global trade ties grow with 26 strategic alliances

Trump’s tariffs: Wall Street slide nets short sellers $127bn

The data, for US companies with market capitalization $1bn and greater, showed short sellers’ gains for 2025 through Monday at $189bn

Reuters
Reuters

08 April, 2025

Trump’s tariffs: Wall Street slide nets short sellers $127bn
Image credit: Getty Images

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Short sellers targeting US companies have gained $127bn on paper from April 2 through Monday after President Donald Trump’s plans for sweeping tariffs sparked a sharp selloff in stocks, according to data and analytics company Ortex Technologies.

The data, for US companies with market capitalisation $1bn and greater, showed short sellers’ gains for 2025 through Monday at $189bn.

Read- Trump tariffs: More than $5tn wiped off markets in two days

Short sellers aim to profit by selling borrowed shares and buying them back later at a lower price.

These bearish investors profited since April 2 as Trump’s plans for extensive tariffs against US trading partners set off a plunge of roughly $5tn in market value for the S&P 500 index.

Short interest for various stock indexes from around the globe increased rapidly from March 31 and peaked on April 4 before starting to drop, data from Ortex showed.

Falling short interest typically indicates investors growing less bearish as well as profit-taking.

“It seems fair to say that some short sellers seem to be looking to lock in their gains,” Ortex cofounder Peter Hillerberg said.

On Tuesday, the S&P 500 was up 2.8 per cent in late morning trade.

HMD’s Sanmeet Singh Kochhar on the brand’s focus on innovation and human-centric design

From co-creating phones with parental input to introducing digital detox-friendly devices, here’s how HMD is focused on innovation, wellbeing, sustainability and accessibility

Neesha Salian
Neesha Salian

08 April, 2025

HMD’s Sanmeet Singh Kochhar on the brand’s focus on innovation and human-centric design
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In this interview with Gulf Business, Sanmeet Singh Kochhar, VP for HMD Europe and AMEA, shares how the company is pioneering a human-first design ethos through the launch of its new HMD Family division.

With rising interest in healthier digital habits, modularity, and eco-conscious innovation across the AMEA region, HMD, Kochhar says, is focused on shaping a more mindful future for mobile tech. Here are excerpts from the discussion.

The launch of the new HMD Family division, with a focus on human-first design and parental input, is a notable move. Can you elaborate on the core philosophy behind this division and how HMD aims to address the growing concerns around children’s digital wellbeing, as highlighted by your research?

At HMD, we put the human back in the mobile devices, and that is exactly what we did here. We believe in creating technology that enhances lives without compromising well-being. The HMD Family division was established to provide solutions that balance connectivity with digital responsibility.

We started the ‘Better Phone Project at HMD last July, a collaborative community project to co-create a safer and better phone. Parents asked for better options —now, after working with parents and teens across 84 countries and speaking to nearly 40,000 families, HMD is launching two new devices this year, starting with the HMD Fusion X1 this May, designed to help teens build healthy digital habits while staying more protected

More than half of children have been regularly contacted online by someone they don’t know, new research from HMD has revealed. One in three children has been asked to take conversations to private messaging apps, and nearly 40 per cent have been exposed to harmful online content, including explicit or violent material.

Our research highlights increasing concerns from parents regarding screen time, online safety, and the impact of smartphones on children’s mental health. By integrating parental input into our design process, we ensure that our products offer features like controlled screen time, location tracking, and simplified user experiences tailored for younger audiences. That’s why HMD is introducing the HMD Fusion X1, a phone built as a “first step” into the digital world, designed to give teens independence while ensuring parents have the controls they need for peace of mind.

The introduction of the HMD Fusion X1 in partnership with Xplora seems a direct response to the ‘Better Phone Project’ report. How does this collaboration specifically foster healthy digital habits for children, and what key features differentiate it in the market?

The HMD Fusion X1 was inspired by the Better Phone project. And is a result of our commitment to fostering positive digital habits.

Our collaboration with Xplora brings a fresh approach by ensuring children remain connected without unnecessary distractions. Key safety features through include:

  • Parental controls are deeply integrated into the operating system, giving parents a simple yet powerful way to guide their teen’s digital experience.
  • Social media and browser controls – Parents decide when (or if) these features are enabled.
  • Safe calls & messaging – Only pre-approved contacts can get through.
  • GPS tracking and safety zones – Parents receive alerts when teens leave designated safe areas.
  • Stay Focused Mode – Blocks access during school hours or bedtime, reducing distractions when it matters most.

Your research indicates over half of children aged eight-12 perceive themselves as suffering from phone addiction. How does HMD intend to leverage the insights from the Better Phone Project report across its broader product portfolio to mitigate this issue?

We must remember that smartphones aren’t just tech, they are all an integral part of our daily life and society itself. HMD is building solutions with children and parents in mind, and change is possible when families — not corporations — lead the conversation. Our “Better Phone Project Report” serves as a guiding framework for developing solutions that promote digital wellbeing.

Across our portfolio, we are integrating features such as Detox Mode, customisable parental controls, and time management settings. By prioritising user wellbeing in our device software and hardware, we aim to create a healthier relationship between users and their digital lives.

The collaboration with FC Barcelona and the launch of the HMD Barça 3210 and HMD Barça Fusion with a “detox mode” is an interesting strategic move. What is the rationale behind this partnership, and how does the detox mode specifically cater to the needs of users seeking a healthier digital lifestyle?

Our collaboration with FC Barcelona aligns with our vision of inspiring individuals to live active, balanced lives. The HMD Barça 3210 (this is a feature phone so does not have detox mode) The HMD Barça Fusion incorporates Detox Mode, a feature designed to encourage users to disconnect from distractions and engage in real-world activities.

By allowing customisable restrictions on social media and app usage, Detox Mode helps users take control of their screen time and foster a healthier digital lifestyle. In the end, you can’t enjoy football with a phone in your hand, these devices put screen time second and living in the moment first, the phones help you stay in your own game.

HMD has reported double-digit growth in its feature phone range for a second year, with new models like the HMD 130 Music, 150 Music, and 2660 Flip. What are the key drivers behind this continued success in the feature phone segment within the AMEA region, and what specific consumer needs are these devices addressing?

The growth in our feature phone segment is driven by a combination of reliability, affordability, nostalgia and new innovations to this space. Many consumers in the AMEA region seek devices that offer durability, long battery life, and ease of use. Additionally, feature phones provide a simpler, distraction-free alternative to smartphones, catering to those looking for a more focused digital experience. Our recent models, including music-centric and flip designs, cater to a variety of lifestyle preferences.

The Amped Buds, with their unique wireless charging case for smartphones, represent a novel approach. What inspired this innovation, and how do you see this feature resonating with consumers in the AMEA region?

The Amped Buds were inspired by the increasing demand for convenience and multi-functionality in tech accessories. Being caught out without tunes or power isn’t fun. In regions where power accessibility can be a challenge, a wireless charging case that doubles as a power bank for smartphones adds tremendous value. This feature resonates well with consumers who need reliable on-the-go solutions, ensuring uninterrupted connectivity and entertainment. Innovation in HMD Amped Buds, is not limited to its powerful 1600mAh battery, it combines premium wireless earbuds with superb sound quality, ANC, and ENC to dial out ambient noise, plus an ultra-slim, sleek case compatible with devices that support wireless charging.

The mobile market in the AMEA region is highly competitive. How does HMD differentiate itself from other players in both the smartphone and feature phone segments?

We understand this region and have a very long and successful history in it. HMD differentiates itself through a strong emphasis on sustainability, repairability, and human-first design. Our commitment to modular designs, like the HMD Fusion, allows users to personalize and extend the lifespan of their devices. Additionally, we maintain a balance between innovation and affordability, ensuring our products remain accessible to a broad audience without compromising on quality or functionality.

What specific market trends and consumer preferences are you observing in the AMEA region that are influencing HMD’s product strategy and go-to-market approach?

We are witnessing a growing interest in digital well-being, modularity, and sustainability. Consumers are looking for devices that align with their values, offering customisability, repairability, and mindful usage. Additionally, the rise of mobile gaming and content creation is driving demand for devices with high-performance cameras and accessories. Our product strategy is centered on meeting these evolving needs while ensuring accessibility and affordability.

Beyond the “human-first” design, how is HMD integrating sustainability into its product development and overall business operations within the AMEA region?

Sustainability is at the core of HMD’s mission. We integrate eco-friendly materials, reduce electronic waste through repairable devices, and promote responsible recycling initiatives. Our Gen 2 repairability approach allows users to replace key components like batteries and screens, extending device longevity and reducing environmental impact. Additionally, we are committed to reducing packaging waste and carbon emissions across our supply chain.

What are the key priorities and strategic directions for HMD in the AMEA region, and what are your expectations for market growth?

At HMD, we are proud to think ahead and anticipate customer needs which is why we are a leader in repairable devices and are introducing new devices to families. Our key priorities include expanding our modular device ecosystem, strengthening our sustainability initiatives, and fostering deeper collaborations with industry partners. We anticipate continued growth in both the smartphone and feature phone segments, driven by our focus on digital wellbeing, affordability, and repairability.

With the increasing demand for user-centric innovation, we are confident that HMD will continue to be a leading player in the AMEA mobile market.

UAE-India ties: Sheikh Hamdan meets PM Narendra Modi during state visit

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, and UAE’s Deputy Prime Minister and Minister of Defence, is on his first official visit to India

Neesha Salian
Neesha Salian

08 April, 2025

UAE-India ties: Sheikh Hamdan meets PM Narendra Modi during state visit
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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, met Indian Prime Minister Narendra Modi in New Delhi today at the start of his official visit to India.

During the meeting, Sheikh Hamdan conveyed the greetings of UAE President Sheikh Mohamed bin Zayed Al Nahyan; UAE Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum; and Vice President, Deputy Prime Minister and Chairman of the Presidential Court Sheikh Mansour bin Zayed Al Nahyan. He also relayed their wishes for India’s continued growth and development.

Prime Minister Modi reciprocated the sentiments, extending greetings to the UAE leadership and expressing hopes for further prosperity and progress for the Gulf nation and its people.

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Sheikh Hamdan and PM Modi discuss ties

The two leaders discussed the deepening strategic partnership between the UAE and India, underscoring a shared vision and commitment to enhancing bilateral ties. Both sides emphasised the importance of expanding cooperation based on their longstanding relationship and mutual development objectives.

Sheikh Hamdan reaffirmed the UAE’s pride in the sustained growth of its partnership with India, citing decades of mutual respect, shared interests and collective pursuit of progress. He expressed confidence in achieving further gains in strategic areas such as investment, trade, tourism, industry, infrastructure, logistics, energy, food security, advanced technology, artificial intelligence, digital transformation, and space.

He also noted the significance of other sectors including healthcare, education and defence, which feature prominently in both countries’ development agendas.

Sheikh Hamdan highlighted the contribution of the Indian community to the UAE’s development, and said the country remains committed to offering an inclusive and supportive environment for all residents. He pointed to the UAE’s world-class infrastructure, efficient logistics, and flexible legislative framework as pillars supporting business growth and investment.

Praising India’s economic transformation under Prime Minister Modi, Sheikh Hamdan said the UAE looks forward to evolving the bilateral partnership to better address global challenges and capitalise on new opportunities.

The leaders stressed the importance of leveraging the comprehensive economic partnership agreement and the Bilateral Investment Treaty to encourage more investment and facilitate new joint ventures.

The talks also covered the need to enhance private sector collaboration and mutual investments, with both sides exploring prospects for establishing new economic partnerships based on the development momentum in both countries.

Regional and global issues were also on the agenda. The leaders underscored the importance of dialogue in resolving disputes, preserving regional stability, and ensuring secure and prosperous futures for their respective nations and the wider world.

Sheikh Hamdan meets with India’s Minister of External Affairs

Following his meeting with PM Modi, Sheikh Hamdan met Dr Subrahmanyam Jaishankar, India’s Minister of External Affairs, at Hyderabad House in New Delhi.

The meeting focused on reviewing the strong and long-standing ties between the UAE and India, with both sides exploring avenues to further enhance cooperation across various sectors.

Business forum held

In other news, Dubai Chambers also concluded the Dubai–India Business Forum in Mumbai, held on the sidelines of the official visit of Sheikh Hamdan to India. The forum, which explored opportunities to strengthen strategic economic ties between Dubai and India, attracted more than 200 senior officials and investors, including a high-level delegation of 39 prominent business leaders from Dubai.

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Inputs from Dubai Media Office.

Insights: Why Dubai’s proptech vision is great news for the real estate sector  

With property prices and rental yields on the rise, and technologies like AI and blockchain unlocking new investment models, the emirate is setting the pace for the future of real estate

Amira Sajwani
Amira Sajwani

08 April, 2025

Insights: Why Dubai’s proptech vision is great news for the real estate sector  
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Anyone who follows real estate will know that proptech is big business. The sector’s global market value is projected to surpass $89bn during the period 2024-32, representing an impressive compound annual growth rate (CAGR) of 11.9 per cent. As these figures suggest, cutting-edge innovations are having a hugely positive impact on the international property landscape.

This is especially true in Dubai. The emirate’s property prices are projected to rise by 5-8 per cent this year, and average rental yields are expected to approach the 7 per cent mark.

Innovations connected to artificial intelligence (AI) and blockchain are already unlocking lucrative opportunities for local property investors and entrepreneurs, and related technologies look set to continue to fuel growth over the longer term. Against this backdrop, the UAE’s proptech industry stands to achieve a phenomenal 20 per cent CAGR from 2022-28.

As founder and CEO of PRYPCO, I am a passionate advocate for the transformative capabilities of proptech, and I am fortunate to live in an emirate whose leaders understand its true potential. Here’s why I believe our government’s proptech vision is great news for Dubai’s wider real estate sector.

Embracing innovation with proptech

Early adopters have already witnessed the myriad ways proptech is making the real estate sector more efficient. It has added value to existing practices through its ability to streamline complex processes, optimise property management systems and improve customer experiences.

The recently announced collaboration between the Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) supports the emirate’s ambition to become a leading destination for property innovation, laying the foundations for further innovation and attracting top international talent. Ultimately, this partnership will ensure that budding entrepreneurs, startups and SMEs within the proptech sphere are able to operate in an environment conducive to their long-term growth and development.

Future advances in AI and blockchain will accelerate the pace of change within the industry and generate more diverse investment opportunities. The latest technologies are already facilitating cutting-edge fractional ownership platforms, allowing investors to purchase portions – or ‘blocks’ – of prime rental properties in Dubai for as little as Dhs500. And this is just the tip of the iceberg. From virtual valuations to augmented reality tours, similar innovations have the potential to revolutionise the real estate industry as we know it, changing how we engage with and invest in our built environment.

Enhancing visibility

Dubai’s laser focus on technological innovation within the property sector (think the REES Initiative, the RDI Grant Initiative and the Real Estate Sector Strategy 2033) is enabling talented entrepreneurs and tech experts to conduct research and develop disruptive technologies that will elevate our emirate’s position as a leading proptech hub.

Naturally, rapidly advancing capabilities combined with countless opportunities for investors are attracting significant attention from around the world, making Dubai the perfect launchpad for anyone who wishes to showcase proptech innovations to an international audience.

Dubai has also established itself as a gathering point for the global proptech community. Having spearheaded a diverse selection of real estate conferences and trade shows, policymakers are bringing together experts, industry leaders and investors who are leveraging innovations to reshape the future of real estate. These high-profile events help to cement strategic relationships, secure new investment opportunities and further strengthen Dubai’s status as an international hotspot for proptech innovation.

Supporting entrepreneurship

The emirate’s future-focused approach, resourcefulness and innate entrepreneurial spirit have been instrumental in allowing our economy to flourish. The Dubai Economic Agenda (D33), for instance – which aims to double GDP and grow the foreign direct investment (FDI) pipeline to $177bn between 2023 and 2033 – is testament to our leaders’ vision, ambition and confidence.

With multiple incentives and support initiatives aimed at fostering the development of startups and SMEs, especially within the realms of technology and digital transformation, Dubai-based proptech entrepreneurs are working in a rich and stimulating environment while benefitting from the financial backing required to rewrite the future of real estate.

Forward-thinking policymaking and investment, coupled with private sector innovation, are enhancing flexibility, accessibility and profitability for property owners, buyers and investors across Dubai.

For these reasons, I am certain that our government’s ambitious proptech vision will continue to benefit Dubai’s real estate market for decades – if not generations – to come.

AI takes flight: Abu Dhabi to host world’s first all-autonomous drone race

The Drone Championship will see 14 elite international teams compete in a series of high-speed, high-tech challenges — with no human pilots involved

Gulf Business
Gulf Business

08 April, 2025

AI takes flight: Abu Dhabi to host world’s first all-autonomous drone race

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Abu Dhabi is gearing up to host a groundbreaking moment in drone racing history as the Abu Dhabi Autonomous Racing League (A2RL), organised by ASPIRE, partners with the Drone Champions League (DCL) to launch the world’s first AI-only drone racing finale.

Taking place from 11–12 April 2025 at Marina Halls 1 & 2, ADNEC, the A2RL x DCL Autonomous Drone Championship will see 14 elite international teams compete in a series of high-speed, high-tech challenges — with no human pilots involved. Instead, drones powered by NVIDIA Jetson Orin NX modules will rely entirely on artificial intelligence to navigate, react, and win.

A highlight of the event will be the “AI vs Human” challenge, which pits top AI racing systems against the world’s best drone pilots in a thrilling knockout showdown. The competition will test everything from deep learning and sensor fusion to drone agility and precision under unpredictable conditions—all for a $1 million prize pool.

Running alongside the races, A2RL Summit 2.0 on 11 April will bring together global thought leaders in AI, robotics, and autonomous mobility to explore future innovations shaping our world.

Open to the public and free to attend, the event is set to attract tech enthusiasts, drone racing fans, students, and families alike. Pre-registration is required at: registration.a2rl.io/register

Event details: 📍 Marina Halls 1 & 2, ADNEC, Abu Dhabi
🗓️ 11–12 April 2025
🕙 10 AM – 6 PM (both days)
🔗 a2rl.io/autonomous-drone-race

With high-octane AI action and a future-focused summit, A2RL is set to redefine autonomous racing in the capital.

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