UAE-based Gargash Prime and JINGDONG Property, the infrastructure arm of China's JD.com, signed a joint venture memorandum of understanding to develop a 2.5 million square foot logistics facility in Dubai. Signed during the Dubai Business Forum – China in Shenzhen, the hub aims to support regional supply chain operations across the Middle East.
The UAE and Kuwait have increased naphtha exports to Asian petrochemical producers using ship-to-ship transfer operations conducted outside the Strait of Hormuz. Between August and September, ADNOC and Kuwait Petroleum Corporation exported approximately 1.6 million metric tons of naphtha, more than doubling shipments from the March-April period. The surge reflects growing utilization of alternative loading and offshore transshipment hubs including Fujairah and waters off Oman and India.
China Asset Management (Hong Kong) Limited and Qatar-based Lesha Bank signed an MOU to launch a Shari'a-compliant All-China active equity fund. The fund provides GCC institutional and high-net-worth investors targeted access to Chinese A-shares, H-shares, and overseas-listed equities. Lesha Bank acts as investment manager, while ChinaAMC (HK) serves as sub-investment manager overseeing portfolio decisions.
Chinese Foreign Minister Wang Yi stated that Beijing will play a constructive role in securing a comprehensive Middle East ceasefire and resuming negotiations. The remarks were made during a meeting in Beijing with Khaldoon Khalifa Al Mubarak, special envoy of the UAE President. Wang emphasized that resolving regional conflicts requires pooled diplomatic efforts and commitment to peace.
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