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United Arab Emirates

August 17, 2024

Abu Dhabi 7:43 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

United Arab Emirates' President Sheikh Mohamed bin Zayed Al-Nahyan (L), South Korea's President Yoon Suk Yeol (C), and his wife Kim Keon Hee (R) watch the Black Eagles, the aerobatic team of T-50 jets belonging to South Korea's air force, during a welcoming ceremony at the Presidential Office in Seoul on May 29, 2024. (Photo by JUNG YEON-JE / POOL / AFP) (Photo by JUNG YEON-JE/POOL/AFP via Getty Images)

South Korea, UAE ink trade deal lifting tariffs on over 90% of imports

The agreement was signed by ministers at a summit in the capital Seoul during the UAE president's first state visit.

United Arab Emirates

UAE President Sheikh Mohamed bin Zayed Al Nahyan arriving in Seoul on May 26, 2024 for a two-day state visit to the Republic of Korea.

UAE president arrives in South Korea to talk defense, energy, business ties

The visit, the first by the Emirati president, aims to enhance the already strong ties between the two countries.

United Arab Emirates

A Scandinavian Airlines (SAS) Boeing 737-700 aircraft (background L) is seen past an AirAsia plane at Langkawi International Airport on the Malaysian resort island of Langkawi on March 2, 2024, ahead of the expected departure of Norway's King Harald V who has been hospitalised on the island. Norway's King Harald V, aged 87 and in poor health, is expected to return in "a few days" from Malaysia where he is hospitalised, the royal household said February 29. (Photo by Mohd RASFAN / AFP) (Photo by MOHD RASFAN/

Malaysia courts Gulf investment and economic ties, but Saudi relations remain question mark

Samuel Wendel

In Washington, DC, reporting on regional business and tech

India's prime minister, Narendra Modi, and his Saudi Arabia counterpart and Crown Prince Mohammed bin Salman (L) shake hands during a session of the G20 Leaders' Summit at the Bharat Mandapam in New Delhi on Sept. 9, 2023.

Analysis

Gaza war complicates IMEC plans even as Gulf-India ties warm

The India-Middle East-Europe Economic Corridor's progress is facing some difficulties related to geopolitical complexities, funding and conflicts in the Red Sea and Gaza.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

UAE president

UAE president to finesse ties in upcoming Beijing visit amid US-China rivalry

The Emirati president's first trip to China in two years comes as ties to the People’s Republic are strengthening across a variety of sectors.

United Arab Emirates

CAMILLE LAFFONT/AFP via Getty Images

UAE's ADNOC invests in Mozambique's natural gas in first African foray

The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement.

United Arab Emirates

GIUSEPPE CACACE/AFP via Getty Images

Dubai beats Singapore, London as top city for 'greenfield' FDI projects

FDI Markets data, compiled by the Financial Times, found the UAE's financial capital ranked top overall in global "greenfield" FDI projects attracted in 2023.

United Arab Emirates

An Emirates Airlines plane lands at Dubai International Airport in Dubai on October 17, 2023. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Emirates airline reports record $4.7B profit as Gulf competition heats up

The Dubai-based airline has posted strong performance figures in recent months.

United Arab Emirates

Cars drive along a street in front of high-rise buildings in Dubai, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Dubai’s real estate boom keeps rolling, emboldening investors despite risks

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Motorists drive along a flooded street following heavy rains in Dubai early on April 17, 2024.

Record rainfall forces Gulf cities to rethink climate change

A climate change monitor estimates that global warming made the Gulf deluge 10-40% more intense than it would have been in the pre-industrial era.

United Arab Emirates

A picture taken on January 23, 2022, shows the skyline of the Emirate of Dubai with Burj Al Arab (C) and Burj Khalifa (background-L). (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Dubai crowned wealthiest city in Middle East, home to 72,500 millionaires

The number of individuals in Dubai with liquid investment wealth — assets that can be readily converted to cash — of $1 million or more increased by 78% between 2013 and 2023 to 72,500, according to a report.

United Arab Emirates

People salvage belongings after heavy flooding due to record rains in Dubai, April 19, 2024.

UAE’s non-oil revenues hit by April floods, but quick recovery expected

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index fell to 55.3 points in April, still indicating growth, but had been at 56.9 the previous month.

United Arab Emirates