Dubai Customs and the Department of Economic Development in Dubai (DED) have unveiled the ‘Virtual Freight and Logistics Corridor’, an innovative initiative aimed at sustaining the UAE’s business leadership and competitiveness, particularly in Dubai.

CARGO volumes at Al Maktoum International at Dubai World Central continued to rise sharply in the first three months of the year, propelling the airport into the world’s 20 busiest international cargo hubs for the first time. Freight volumes surged 177.

Bond issue to raise $500m DP World, one of the world’s biggest port operators, is expected to raise $500 million from a five-year bond issue. Investor meetings for the dollar-denominated offering ended in Dubai recently. No specific timing for the issue was given.

Schmidt ME Logistics, specialist in packaging, product handling and intermodal transportation of dry bulk products, is expanding in the UAE by establishing a dry bulk logistics centre at Khalifa Port’s industrial, trade and logistics zone - Kizad.