Dubai has approved its silk road plan, further consolidating its strategic trade link, Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, crown prince of Dubai. Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00Hello and welcome to Gulf News Daily Business Wrap-Up.
00:05Dubai has approved a Silk Road Initiative to further consolidate its strategic trade
00:09link.
00:10Dubai's Silk Road Initiative has nine initiatives and 33 projects, which would include the likes
00:17of Emirates Airlines, Jebel Ali Freeport, Dubai Maritime, the RTA and other government
00:24organizations.
00:25So, basically what they will do is enhance the strategic trade link by using synergies
00:32of all these companies for e-commerce logistics, improving the air and logistics capabilities
00:40of all these companies.
00:41Remember, in July last year, UAE had signed a memorandum of understanding with Chinese
00:47President Xi Jinping as far as their One Road, One Belt initiative went.
00:52Canada has officially ordered the start of the expedition of Huawei's Chief Financial
00:56Officer Meng Wanzhou.
00:59Canada's Department of Justice has officially started the whole procedure as US wanted Meng
01:05to face fraud charges in the United States.
01:10The US alleges that she lied to banks to process transactions, those were linked to Iranian
01:17sanctions which were initiated by the US.
01:21That's it from me and thanks for watching.
01:22For more, you can log on to gulfviews.com slash business.