Ports, shipping, aviation cargo, warehousing and trade
The UAE Federal Tax Authority issued Public Clarification VATP047 regarding the reverse charge mechanism for domestic metal scrap transactions. Under the clarification, the VAT accounting obligation shifts from the supplier to the VAT-registered buyer. The guidance outlines mandatory documentation, supplier declarations, and verification rules for the industrial sector.
China Securities has secured regulatory authorization to operate in the Dubai International Financial Centre, while JINGDONG Property signed a deal to build a 150,000-square-metre smart logistics facility in Abu Dhabi. Chinese outbound direct investment into the UAE rose to $2.6 billion, pushing cumulative investment stock to $12.47 billion as bilateral non-oil trade crossed $100 billion.
The UAE National Advance Information Center has implemented mandatory advance cargo reporting for maritime container shipments starting October 1, 2026. Under the Maritime Pre-Load Cargo Information program, carriers and freight forwarders must submit bill of lading details prior to foreign port loading or face potential Do Not Load orders.
Brent crude climbed past $102 per barrel on October 2, 2026, driven by Strait of Hormuz transit concerns and fuel export suspensions by Chinese refiners. Middle East crude exports recovered to 17.5 million barrels per day, while refined product shipments remained constrained at 58% of pre-disruption levels.
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