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United Arab Emirates

August 17, 2024

Abu Dhabi 6:49 am

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Gantry cranes are seen behind signage for ports operator DP World at an entrance to the Port Botany compound in Sydney on Nov. 13, 2023.

UAE port operator DP World's profits fall 60% amid Yemen's Houthi Red Sea attacks

The Dubai-based logistics firm reported $265 million in profit for the first half of 2024 ending June 30, down from $651 million the same time last year.

United Arab Emirates

Co-founder and Ceo of Starz Play Maaz Sheikh poses in his office in Dubai on April 23, 2019. Streaming services in the Middle East are competing for Arab audiences with US giant Netflix set to release its first Arabic production in June, chasing a slice of a potentially lucrative market. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Netflix in crosshairs as Middle East streaming competition mounts

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man walks out of Bank Station, in The City financial district, in central London, on June 12, 2024. (Photo by BENJAMIN CREMEL / AFP) (Photo by BENJAMIN CREMEL/AFP via Getty Images)

Interview

Nomo Bank sees increasing appetite for Islamic investments, ETFs

Paul Szumilewicz, chief revenue officer at UK-based Nomo Bank, said there is a growing demand from the bank’s clients to invest in exchange-traded funds (ETFs) — a pre-defined group of bonds, stocks or commodities poured into a fund and listed on the stock exchange.

Paul Szumilewicz

With Paul Szumilewicz

Nomo Bank Chief Revenue Officer

The UAE's CEPA program continues to break new ground in Africa as we conclude the terms of a deal with Morocco.

Analysis

How Morocco-UAE economic agreement could usher in new era of bilateral trade

With its CEPA program, Abu Dhabi is not only expanding its network of trade and investment partners; it is getting closer to achieving its strategic goal of increasing its non-oil foreign trade.

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Latest News

US election drama raises stakes for Mideast economic powers eyeing 2025

KALAMAZOO, MICHIGAN - JULY 17: U.S. Vice President Kamala Harris attends a moderated conversation with former Trump administration national security official Olivia Troye and former Republican voter Amanda Stratton on July 17, 2024 in Kalamazoo, Michigan. (Photo by Chris duMond/Getty Images)

Who is Faisal Taghi, alleged drug kingpin extradited from UAE to Netherlands?

Dubai Police extradited Faisal Taghi, a high-value target criminal wanted by Dutch authorities, to the Netherlands, on July 29, 2024.

United Arab Emirates

Gulf investment in UK real estate to hit $4B annually, says BLME

Members of the public walk along the high street on March 21, 2024, in Lewes, England.

GCC’s renewable energy push pays off with Qatar, UAE taking lead

Men wearing thawbs walk past a billboard promoting the transition to renewable energies at the UNFCCC COP28 Climate Conference the day before its official opening on November 29, 2023 in Dubai, United Arab Emirates. The COP28 is bringing together stakeholders, including international heads of state and other leaders, scientists, environmentalists, indigenous peoples representatives, activists and others to discuss and agree on the implementation of global measures towards mitigating the effects of climate c

UAE's Flydubai says Boeing delays hurt airline’s expansion plans

A flydubai Boeing 737 Max taxis at Dubai International Airport in Dubai, on Nov. 22, 2023.

United Arab Emirates

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

Kate Dourian

In Dubai, reporting on energy

Mohammed Soliman

In Washington, DC, reporting on Gulf politics

Karen Young

In Washington, DC, reporting on regional energy

DUBAI, UNITED ARAB EMIRATES -UNSPECIFIED: In this image released on November 3,2022, Tiësto behind-the-scenes filming the music video for new track 10:35 at Dubais newest luxury icon, Atlantis The Royal hotel in Dubai, United Arab Emirates. (Photo by Cedric Ribeiro/Getty Images for Atlantis Dubai)

Dubai, Tel Aviv most expensive for expats in MidEast as Tunis, Ankara rank least

Tunis, Algiers and Ankara have a relatively low cost of living for international workers, according to a survey by the consulting firm Mercer.

United Arab Emirates

India's Prime Minister Narendra Modi addresses his supporters after Bharatiya Janata Party (BJP) won in country's general election, in New Delhi on June 4, 2024. Modi claimed election victory for his party and its allies on June 4, but the opposition said they had "punished" the ruling party to confound predictions and reduce their parliamentary majority. (Photo by Money SHARMA / AFP) (Photo by MONEY SHARMA/AFP via Getty Images)

From Israel to Iran, Modi 3.0 eyes deepening of India's Middle East ties

India refuses to be restricted by its former Cold War commitments; as with any other power or wannabe power, only self-interest matters, and the oil monarchies of the Gulf top India's list of friends in the region.

Turkish President Recep Tayyip Erdogan (L) speaks with UAE President Sheikh Mohammed bin Zayed Al Nahyan and Indian President Narendra Modi on the sidelines of the G-7 summit, June 14, 2024, Apulia, Italy.

Turkey’s Erdogan, UAE president discuss Gaza during G7

Turkish President Recep Tayyip Erdogan also briefly chatted with US President Joe Biden on the sidelines of the summit.

BEIJING, CHINA - DECEMBER 31: China's Foreign Minister Wang Yi talks to Iran's Foreign Minister Mohammad Javad Zarif during a meeting at the Diaoyutai state guest house on December 31, 2019 in Beijing, China. (Photo by Noel Celis - Pool/Getty Images)

With China-Iran ties on rollercoaster, Tehran can only grit its teeth, hang on

Iran can get upset about China’s statement over Abu Musa and the Greater and Lesser Tunbs, or they can express their anger at China, move on and focus instead on extracting the many economic and political benefits that they derive from their relationship with Beijing.

Giorgia Meloni was received at the presidential palace in Abu Dhabi by UAE President Sheikh Mohamed bin Zayed Al-Nahyan. (WAM)

UAE, Saudi leaders expected at Italy's G7 summit as Meloni boosts Gulf ties

Italy is seeking Saudi investments and closer gas ties with the UAE, all while it focuses on migration and energy-related interests in North Africa.

This pool photograph distributed by Russian state agency Sputnik shows Russia's President Vladimir Putin attending a virtual summit of the BRICS group of nations (the bloc that includes Brazil, Russia, India, China and South Africa) to discuss the Israel-Hamas war, in Moscow on November 21, 2023. (Photo by Alexander KAZAKOV / POOL / AFP) (Photo by ALEXANDER KAZAKOV/POOL/AFP via Getty Images)

UAE, Saudi, Iran, Egypt, Turkey FMs attend Russia's BRICS meeting

The BRICS foreign ministers meeting focused on diplomatic developments related to the Gaza war and efforts to ditch the US dollar in international trade, among other matters.

Haitham al-Ghais, secretary general of OPEC, speaks with Carlos Pascual during CERAWeek by S&P Global in Houston, Texas on March 7, 2023.

OPEC chief defends oil cut phase-out plans despite bearish market

The markets reacted bearishly OPEC+'s Sunday output decision, worrying it could lead to oversupply later in 2024 despite slow demand growth.

United Arab Emirates

Digital generated image of futuristic cubes connecting computer microchip. Cloud technology, big data or fintech technology. Concept of the new digital currency CBDC.

Saudi Arabia joins China and UAE in digital currency project

The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform.

China's President Xi Jinping (L) shakes hands with United Arab Emirates' president, Sheikh Mohamed bin Zayed Al Nahyan, ahead of the opening ceremony of the 10th Ministerial Meeting of China-Arab States Cooperation Forum at the Diaoyutai State Guesthouse in Beijing on May 30, 2024.

In rare clash with Iran, China reaffirms solidarity with UAE over disputed islands

Iran seized control of Abu Musa and the Greater and Lesser Tunbs several decades ago, though the United Arab Emirates has long claimed sovereignty over the islands, a claim backed by Gulf states and Russia.

The Sudanese (L) and Saudi flag are seeing flying on the tarmac during a joint Sudan and Saudi Arabia air force drill at the Marwa air base, near Meroe some 350 kilometres north of Khartoum, on April 9, 2017.

Analysis

Can Gulf investors outstrip China in Africa as UAE expands reach?

As the UAE, Saudi Arabia and other GCC states boost investments in Africa,Beijing’s Belt and Road Initiative could face serious challenges.

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

People visit the Global Village, a shopping, dining and entertainment complex in Dubai, on the eve of Eid al-Fitr which ends the Muslim fasting month of Ramadan, on April 20, 2023. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Middle East economic outlook caught between low growth, high debt convergence

In Washington, DC, reporting on regional energy

LUIS TATO/AFP via Getty Images

UAE main destination for smuggled African gold, report claims

Swissaid estimates that 405 metric tons of gold, mostly mined by small-scale or artisanal miners, were smuggled out of Africa in 2022 and ended up in the UAE.

United Arab Emirates