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Etihad Airways flight aborts take-off in Melbourne, all passengers safe

Flight EY461, carrying 271 passengers, was accelerating for departure to Abu Dhabi when the flight crew opted to reject take-off owing to a technical issue

Gareth van Zyl
Gareth van Zyl

06 January, 2025

Etihad Airways flight aborts take-off in Melbourne, all passengers safe
Image: Supplied

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An Etihad Airways Boeing 787-9 Dreamliner aborted take-off at Melbourne Airport on Sunday after a landing gear malfunction led to smoke and damage to two of the aircraft’s wheels, the airline said.

Flight EY461, carrying 271 passengers, was accelerating for departure to Abu Dhabi when the flight crew opted to reject take-off owing to a technical issue, Etihad said in a statement.

“The aircraft was safely brought to a stop on the runway and emergency services attended as a precaution,” the airline said, adding that all passengers disembarked safely.

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Footage from the scene showed fire crews surrounding the aircraft, with foam applied to the landing gear as a precautionary measure.

Etihad said it was assisting passengers with alternative travel arrangements and apologised for the disruption. “The safety and comfort of our guests and crew remain our highest priority,” it said.

The airline did not specify the nature of the technical issue or the extent of the damage to the aircraft. Melbourne Airport operations were briefly affected but later resumed normal service.

Decoding the future of health: How genetic testing at AEON Clinic is redefining longevity

With a focus on personalised medicine, AEON Clinic is redefining the way we approach health prevention and disease management

Gulf Business
Gulf Business

04 January, 2025

Decoding the future of health: How genetic testing at AEON Clinic is redefining longevity
Images: Supplied

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The UAE’s Department of Health has made a groundbreaking move by incorporating genetic testing into the Premarital Screening Programme, reflecting the nation’s commitment to advancing public health.

This initiative, which takes effect in January this year, aligns with the UAE’s dedication to utilising cutting-edge medical innovations to improve health outcomes.

In an age where prevention is increasingly prioritised over treatment, genetic testing is becoming a key tool in personalised and preventive healthcare. It provides individuals with invaluable insights into their genetic predispositions, enabling them to mitigate health risks before they escalate into chronic conditions.

AEON Clinic: Focused on a proactive approach

At the heart of this transformation is AEON Clinic, a leading healthcare provider located within the luxurious Atlantis The Royal.

Under the guidance of Dr Sabah Habibollah, Clinical Scientist in Genetics and Longevity, AEON Clinic is leveraging genomics to revolutionise healthcare, offering individuals a proactive approach to longevity and health optimisation.

Dr Sabah Habibollah, Clinical Scientist in Genetics and Longevity, AEON Clinic

Why genetic testing matters

Genetic testing is much more than a diagnostic tool; it is a proactive strategy for disease prevention.

By analysing an individual’s DNA, genetic testing identifies genetic variations and mutations that could increase the risk of conditions such as diabetes, cancer, cardiovascular issues, and neurological disorders.

Unlike traditional methods that detect diseases after symptoms arise, genetic testing uncovers potential health risks years before they manifest, allowing for early interventions, personalised treatment plans, and lifestyle adjustments.

“Genetic testing empowers individuals with knowledge about their unique health blueprint. This information allows us to tailor strategies for disease prevention and health optimisation, ensuring individuals are equipped to lead longer, healthier lives,” explained Dr Habibollah.

UAE’s vision: A healthier generation through prevention

The UAE’s decision to integrate genetic testing into the Premarital Screening Programme is a visionary step toward reducing the prevalence of hereditary diseases. By making genetic screening a prerequisite for marriage, the programme aims to:

  • Identify genetic risks early: Detect inherited conditions like sickle cell anaemia and thalassemia, helping to prevent them from being passed to future generations.
  • Empower informed decisions: Couples can make educated decisions about family planning with counselling based on their genetic compatibility.
  • Reduce disease prevalence: Early detection and management of genetic risks will help mitigate the spread of diseases, ultimately leading to better public health outcomes.

This initiative is not only a safeguard for future families but also a crucial part of the UAE’s strategy to promote a healthier, more resilient population.

Genomics at AEON Clinic: A complete approach to precision healthcare

AEON Clinic is setting the bar for comprehensive healthcare by integrating genetic testing with a full spectrum of precision health services.

Here’s a look at the advanced offerings available to clients:

  1. Genetic counselling
    AEON’s certified specialists provide personalised counselling to help individuals and families understand their genetic risks and conditions, empowering them to make informed decisions about their health and future.
  2. Genetic testing and interpretation
    Advanced genetic testing uncovers mutations linked to chronic conditions like cancer and cardiovascular diseases. AEON’s expert team interprets the results, offering actionable health strategies for prevention or treatment.
  3. Prognostic genetics and health risk assessment
    AEON provides personalised health risk evaluations based on genetic assessments, enabling patients to adopt lifestyle modifications or medical interventions to prevent disease onset.
  4. Integration of genomic data into clinical care
    AEON pioneers the integration of genomic insights into clinical treatment plans, ensuring that genetic data serves as the foundation for effective, long-term wellness strategies.
  5. Pharmacogenomics
    AEON uses pharmacogenomic testing to tailor treatment plans and optimise medication efficacy, reducing side effects and improving patient outcomes.
  6. Preconception and prenatal genetic counselling
    AEON offers genetic counselling for couples before conception and during pregnancy to assess carrier status and identify potential genetic risks for their children.
  7. Reproductive genetics
    AEON’s reproductive genetic services assess fertility-related factors and hereditary conditions to ensure healthier outcomes for future generations.
  8. Cancer genetics
    AEON’s cancer genetics testing identifies hereditary mutations linked to cancers like breast, ovarian, and colorectal cancers, helping patients take preventive measures.
  9. Cardiovascular genetics
    AEON uses genetic testing to detect inherited heart conditions, allowing patients to adopt preventive strategies and reduce their risk of cardiovascular diseases.
  10. Epigenetic analysis
    AEON helps individuals understand how lifestyle, environment, and behaviour impact gene expression, offering personalised recommendations to optimise health.

“At AEON Clinic, we bridge the gap between science and health. Genomic insights allow us to address health risks at their root, enabling personalised strategies that enhance longevity and quality of life,” said Dr Habibollah.

Embrace the power of genetic testing at AEON Clinic

AEON Clinic, located within Atlantis The Royal, offers advanced genetic testing and personalised genomics services for individuals seeking to take control of their health. By combining world-class expertise with cutting-edge technology, AEON helps clients unlock the secrets of their DNA and chart a path toward a healthier, longer future.

Contact Information:
Address: Atlantis The Royal, Level P, Sunrise Tower, Crescent Rd, Palm Jumeirah, Dubai.
Phone: +971 04 518 5777
Email: [email protected]
Website: www.theaeonclinic.com

India aims to strengthen ties with US, engage with Trump

India’s government and industry groups favour a broader trade and investment pact with the United States to help manufacturers integrate into global supply chains

Reuters
Reuters

03 January, 2025

India aims to strengthen ties with US, engage with Trump

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India is looking forward to strengthening its economic relationship with the United States by engaging with the incoming Trump administration, India’s trade minister Piyush Goyal told reporters in New Delhi on Friday.

“We are looking forward to a very deep and substantive engagement with the new US administration,” the trade minister said, noting that under Prime Minister Narendra Modi, India has bolstered bilateral relations with successive U.S. administrations, including those led by Barack Obama, Donald Trump and Joe Biden.

Bilateral trade between India and the United States, India’s largest trading partner, exceeded $118bn in 2023/24, with India registering a trade surplus of $32bn.

Industry estimates suggest that trade could grow by an additional $50bn within two to three years, underscoring significant potential for stronger economic cooperation.

The government and industry groups favour a broader trade and investment pact with the United States to help Indian manufacturers integrate into global supply chains while retaining policy flexibility to safeguard national interests.

Goyal said that India’s goods and services trade is projected to surpass $800bn in the 2024/25 fiscal year, ending March.

While aiming to protect its manufacturers from potential US tariff hikes on its exports, India is exploring ways to strengthen ties with Washington as Trump has threatened tariffs of 60 per cent and other curbs on imports from China.

AD Ports Group expands global presence, boosts financial performance in 2024

AD Ports Group continued its focus on digital transformation in 2024 with the acquisition of a 60 per cent equity stake in Dubai Technologies

Gulf Business
Gulf Business

03 January, 2025

AD Ports Group expands global presence, boosts financial performance in 2024
Image: AD Ports

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AD Ports Group has reported consistent expansion and a series of strategic investments in 2024.

AD Ports Group ended the year on a high note, marking a significant milestone with the inauguration of CMA Terminals Khalifa Port.

The new container terminal at Khalifa Port increases the port’s capacity by 23 per cent, further establishing it as one of the world’s fastest-growing and most efficient commercial hubs.

In addition, Khalifa Port’s Autoterminal saw a 30 per cent rise in vehicle traffic in H1 2024, bolstered by the rapid construction of 90,000 square meters of additional storage capacity.

This expansion enhances the terminal’s ability to support the growing automotive trade in the region.

Strategic expansion and international growth

The group’s integration of Noatum’s assets was another key development, aligning Noatum’s international brand equity with AD Ports Group’s growth strategy.

The acquisition streamlines operations and opens new product offerings and markets, cementing the Group’s position as a leading enabler of global trade and logistics.

AD Ports Group’s global expansion efforts also gained momentum in 2024 with the securing of a 25-year concession at Karachi Port in Pakistan. The group plans to invest $75m over the next two years to develop and manage the bulk and general cargo terminal at the port, further expanding its footprint in South Asia.

In Egypt, AD Ports strengthened its cruise operations by signing agreements with the Red Sea Ports Authority to develop and manage three cruise terminals in Safaga, Hurghada, and Sharm El Sheikh. This complements the group’s existing terminal in Aqaba, Jordan, enhancing its position in the regional cruise market.

The acquisition of Safina B.V. in Egypt extends AD Ports Group’s network to 15 Egyptian ports, facilitating increased trade through the Suez Canal. The group’s growth in Egypt also includes its previous acquisitions of Transmar and TCI, as well as a multipurpose terminal concession in Safaga.

The group’s expansion into Angola included a concession to operate and develop a multipurpose terminal at the Port of Luanda, a critical transhipment hub for Central and West Africa. The group also formed a joint venture in Tanzania with Adani, acquiring a majority stake in Tanzania International Container Terminal Services (TICTS).

In Georgia, AD Ports Group acquired a 60 per cent stake in Tbilisi Dry Port, an intermodal logistics facility, connecting the Middle Corridor route from Asia to Europe. This acquisition enhances the group’s logistics capabilities across the region, linking ports in Kazakhstan, Azerbaijan, Armenia, Georgia, and Türkiye.

Ad Ports Group: Financial performance and credit rating

The group delivered a strong performance in the first nine months of 2024, posting record revenue of Dhs12.72bn and net profit of Dhs1.29bn.

Growth was led by strong performances across core sectors: Ports (+13 per cent), Maritime & Shipping (+46 per cent), Economic Cities & Free Zones (+11 per cent), Logistics (+26 per cent), and Digital (+4 per cent).

The group’s strong financial performance and liquidity were further recognised by Moody’s, which assigned AD Ports an A1 credit rating with a stable outlook. The rating reflects its robust growth prospects and operational efficiency.

In addition to strong financial performance, AD Ports secured favourable refinancing terms, including the refinancing of a $2.25bn syndicated loan in September and the upsizing of its revolving credit facility (RCF) in December from $1bn to $2.125bn.

Technological advancements and sustainability

AD Ports Group continued its focus on digital transformation in 2024 with the acquisition of a 60 per cent equity stake in Dubai Technologies, a leading developer of intelligent ports’ operations management software. The acquisition strengthens AD Ports Group’s digital cluster, now rebranded as Maqta Technologies Group, which focuses on facilitating global trade through advanced digital solutions.

One of the Cluster’s key projects was a partnership with Jordan’s Aqaba Development Corporation to design a Port Community System for Aqaba’s port, marking the first export of AD Ports’ digitalisation solution.

Further showcasing its commitment to sustainability, AD Ports Group, in collaboration with NMDC Group, launched the state-of-the-art SAFEEN Green, an unmanned vessel designed to revolutionise marine surveys and inspections.

Additionally, its joint venture with Damen Shipyards Group set a Guinness World Record™️ for the world’s most powerful electric tugboat, Bu Tinah, which reduces emissions from marine operations.

Economic zones and industrial development

The group’s KEZAD Group, the largest operator of integrated economic zones in the region, achieved significant success in 2024 with multiple developments. A notable highlight was the Dhs367m investment to establish a modular fabrication facility with NMDC Energy, which is expected to create approximately 3,000 jobs in the oil and gas sector.

Additionally, Titan Lithium signed a 50-year lease agreement to build a lithium processing plant in KEZAD, positioning the UAE as a key player in the global lithium market. The plant, with an investment of Dhs5bn, will produce battery-grade lithium products.

KEZAD also secured a Dhs1bn commitment from Azizi Developments to build 12 factories, marking one of the largest land leases of the year. The zone is also expanding its warehousing capacity with a Dhs621m investment to add over 250,000 sqm of space, increasing total warehousing capacity by 43 per cent.

Looking ahead

Captain Mohamed Juma Al Shamisi, MD and group CEO of AD Ports Group, said: “In 2024, we have strengthened our position in global trade and logistics through strategic expansions and investments. With the recent inauguration of CMA Terminals Khalifa Port and the integration of Noatum, we are poised to further expand our international reach.”

Al Shamisi added: “Our ranking among the top 20 global container port operators for the first time, coupled with our ongoing expansion in Angola, Pakistan, Egypt, and Georgia, demonstrates the robust health of our core businesses and the success of our internationalisation strategy.”

China cranks up fiscal stimulus in cash-for-clunkers moment

Special treasury bonds will be used to fund large-scale equipment upgrades and consumer goods trade-ins, state officials have said

Reuters
Reuters

03 January, 2025

China cranks up fiscal stimulus in cash-for-clunkers moment

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China will sharply increase funding from ultra-long treasury bonds in 2025 to spur business investment and consumer-boosting initiatives, a state planner official said on Friday, as Beijing cranks up fiscal stimulus to revitalise the faltering economy.

Special treasury bonds will be used to fund large-scale equipment upgrades and consumer goods trade-ins, said Yuan Da, deputy secretary-general of National Development and Reform Commission (NDRC) at a press conference.

“The size of ultra-long special government bond funds will be sharply increased this year to intensify and expand the implementation of the two new initiatives,” Yuan said.

Under the programme launched last year, consumers can trade-in old cars or appliances and buy new ones at a discount, and a separate one that subsidises large-scale equipment upgrades for businesses.

Households also will be eligible for subsidies to buy three types of digital products this year, including cell phones, tablets, smart watches and bracelets, Yuan said.

In December, the NDRC said Beijing had fully allocated all proceeds from 1 trillion yuan ($136.68bn) in ultra-long special treasury bonds in 2024, with about 70 per cent of proceeds financing “two major projects” and the remainder going towards the new initiatives.

Chinese leaders have pledged to “vigorously” boost consumption this year, raising expectations of more policy steps to spur demand and fight deflationary risks.

Millions of government workers across China were given surprise wage increases this week, people affected by the move said, as Beijing looks to boost spending.

China will also increase funding from special treasury bonds and expand the scope for another programme that focuses on supporting key strategic sectors, Zhao Chenxin, vice head of the state planner told the press conference.

The government has approved projects for 2025 worth 100 billion yuan under this scheme in advance, he said.

The major programmes refer to projects such as construction of railways and airports, development of farmland, and building security capacity in key areas, according to official documents.

The world’s second-biggest economy has struggled over the past few years due to a severe property crisis, high local government debt and weak consumer demand. Exports, one of the few bright spots, could face more US tariffs under a second Donald Trump administration.

Reuters reported last month that authorities have agreed to issue 3 trillion yuan worth of special treasury bonds in 2025, which would be the highest on record.

Strong fiscal stimulus expected

China is likely to allow local governments to increase issuance of special bonds to 4.7 trillion yuan this year, up from 3.9 trillion yuan in 2024, said Zhang Ming, a senior economist at the Chinese Academy of Social Sciences, a top state think tank.

The combined special treasury and local bonds and the annual budget deficit could approach 13 trillion yuan this year, or 9-10 per cent of gross domestic product, Zhang said in an article published on the website of China Chief Economist Forum.

“Such a level of broad-based deficit would be rare in history,” Zhang said.

Reuters reported last month that Chinese leaders have agreed to raise the budget deficit to 4 per cent of GDP in 2025, China‘s highest on record, while maintaining an economic growth target of around 5 per cent.

NDRC’s Yuan said China had ample policy space to underpin growth this year.

“We are fully confident of driving continued economic recovery this year.”

China‘s central bank is likely to cut its key policy rate from the current level of 1.5 per cent “at an appropriate time” in 2025, the Financial Times reported on Friday citing comments the bank made to the newspaper, as part of Beijing’s efforts to shore up growth.

ADGM unveils new fee structure, offers significant reductions

The fee updates follow a series of consultations with the ADGM business community in 2023, focusing on expanding the jurisdiction and improving the ease of doing business

Gulf Business
Gulf Business

03 January, 2025

ADGM unveils new fee structure, offers significant reductions
Image: ADGM

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ADGM has announced a revised fee schedule for obtaining and renewing commercial licences, effective from January 1.

The changes, which include substantial reductions in fees for non-financial and retail businesses, aim to further enhance ADGM’s business-friendly ecosystem.

The new fee structure, which follows the conclusion of the Al Reem Island transition period on December 31, 2024, sees fee cuts of up to 50 per cent or more for businesses in the non-financial and retail sectors within the international financial centre’s jurisdiction, which includes Al Maryah and Al Reem Islands.

Key fee changes introduced by ADGM

Non-financial sector

  • Initial registration fees have been reduced from $10,000 to $5,500.
  • Annual licence renewal fees are now set at $5,000, down from $8,000.

Retail sector

  • Initial registration fees are cut from $6,000 to $2,500.
  • Annual licence renewal fees are reduced from $4,000 to 2,000.

These changes are part of the international financial centre’s ongoing efforts to make the jurisdiction more attractive and accessible to a wider range of businesses.

Broader changes in the fee structure

While the non-financial and retail sectors benefit from substantial reductions, other categories will see fee adjustments:

  • Financial sector: Initial registration fees will rise from $15,000 to $16,700, with annual renewals increasing from $13,000 to $16,200.
  • Tech startups: The fees for both new registrations and annual renewals will increase from $1,000 to $1,500.

Additionally, all businesses across the international financial centre will be subject to a $300 data protection fee at the time of both new registration and annual renewal.

Fee structure based on consultations with the centre’s business community

The fee updates follow a series of consultations with the ADGM business community in 2023, focusing on expanding the jurisdiction and improving the ease of doing business.

ADGM’s Registration Authority (RA) used the feedback to conduct a thorough review of its fee structure, ensuring it aligns with the evolving commercial landscape and facilitates a smooth transition for businesses in the region.

Hamad Sayah Al Mazrouei, CEO of ADGM RA, highlighted the initiative’s significance: “The revised fee structure underscores our ongoing commitment to fostering a dynamic business environment within ADGM. By reducing fees for non-financial and retail businesses, we are further cultivating an ecosystem that supports both new entrants and established firms, reinforcing ADGM’s position as a leading global financial hub.”

With the end of the Al Reem Island transition period, fee exemptions previously available to qualifying businesses in the non-financial and retail sectors have now been discontinued.

Read: Path to Forward: ADGM reveals its new brand

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