25

Sep

Israel to sell air defence system to United Arab Emirates, sources say

DUBAI/NEW YORK (Reuters) - Israel has agreed to sell an advanced air defence system to the United Arab Emirates, two sources familiar with the matter said, in the first such known deal between them since they forged ties in 2020. The deal reinforces how, for some Arab states, resolving the decades-long Israel-Palestinian conflict has now been overshadowed by national priorities, such as security and the economy. Israel and the U.S.-allied UAE share an ultimate fear, that Iran obtains a nuclear weapon, an ambition Tehran denies. Israel approved a UAE request in the middle of the summer and would supply the…

Read More Here

13

Sep

EPA’s Eye In The Sky: Dubai, United Arab Emirates

A picture taken from 'The View At The Palm' observation deck shows the Burj Al Arab Luxury Hotel (L) and behind it the world's tallest building, the Burj Khalifa (Back), in the Gulf Emirate of Dubai, United Arab Emirates. The observation deck is located on the top most 52nd floor of The Palm Tower and gives visitors panoramic 360-degree views of the manmade Palm Jumeirah island at a height of over 240 meters. The deck opened to the public on 07 April 2021. Photo: EPA-EFE/ALI HAIDER

Read More Here

05

Sep

UAE non-oil private sector grows at fastest pace in 38 months – PMI

DUBAI, Sept 5 (Reuters) - The United Arab Emirates' non-oil private sector grew in August at its fastest pace since June 2019, boosted by better demand and lower selling prices, though sentiment about the future slipped to a 17-month low, a survey showed on Monday. The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) rose to 56.7 in August from 55.4 in July, jumping to a 38-month high and further exceeding the series average since 2009 of 54.2. David Owen, economist at survey compiler S&P Global Market Intelligence, said the headline figure signalled "a robust improvement in conditions in…

Read More Here

21

Aug

$1,361 fine for leaving children unattended in car in UAE

A $1,361 fine will be issued to anyone who leaves children unattended in cars in the UAE, which may result in injuries or deaths, the Abu Dhabi Police warned this week.  Leaving children in vehicles is especially dangerous during the hot summer months, where temperatures across the country have been soaring to highs of 48°C.  “Leaving children unattended is a crime punishable by law, and Wadeema’s Law is tough on violators. It imposes a minimum Dh5,000 fine on the guardian who leaves the child unattended in the vehicle, and this could be accompanied by a jail sentence,” Captain Mohammed Hamad…

Read More Here

03

Aug

UAE non-oil private sector picks up pace in July – PMI

DUBAI, Aug 3 (Reuters) - The United Arab Emirates' non-oil private sector grew in July at its second-fastest pace this year as business activity picked up on strong demand and higher sales amid some discounting, a business survey showed on Wednesday. The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) rose to 55.4 in July from 54.8 in June, slightly lower than May's 55.6 reading - the fastest pace of growth this year. It remained well above the series average since 2009 of 54.1. The output subindex rose to 62.5 from June's 60.7, the joint-highest for the year and above the…

Read More Here

29

Jul

Dubai property sales surge 60% as investors, Russians flock in

DUBAI, July 29 (Reuters) - Dubai's red-hot property market surged in the first half of the year as investors piled in, with Russians among the top five buyers as the emirate benefits from an influx of wealth in the wake of Western sanctions. The first half saw residential real estate transaction volumes up 60% with an 85% rise in the value of properties sold, property consultancy Betterhomes said in a report. The top buyers were from India, the United Kingdom, Italy, Russia and France, in that order, followed by Canada, the United Arab Emirates, Pakistan and Egypt tied in eighth place, Lebanon…

Read More Here

16

Jul

Rights group says UAE has detained U.S. lawyer who represented Khashoggi

July 16 (Reuters) - United Arab Emirates authorities have detained Asim Ghafoor, a U.S. citizen and civil rights attorney who previously served as a lawyer for slain journalist Jamal Khashoggi, said U.S.-based rights group DAWN of whose board Ghafoor is a member. A senior U.S. administration official, when asked on Saturday by reporters about the detention, said the United States was aware, but could not say whether President Joe Biden would raise the issue in planned bilateral talks with the UAE president on the sidelines of an Arab summit in Saudi Arabia. "Certainly I think we have points on that…

Read More Here

09

Jul

United Arab Emirates cuts red tape to attract businesses

DUBAI, (Reuters) - The United Arab Emirates is cutting red tape to make it easier and quicker for digital companies to incorporate, the latest economic policy announcement as the government seeks to further diversify the economy away from oil revenues. Trade minister Thani Al Zeyoudi, flanked by executives from many state-linked entities, this week announced the changes that include better access to the financial and banking system. "We want to show digitally enabled companies from Europe, Asia, the Americas, that the UAE is the world's best place to live, work, invest and scale," the minister told reporters, setting a target for 300…

Read More Here

04

Jul

United Arab Emirates doubles support for low-income Emirati families

DUBAI, July 4 (Reuters) - The United Arab Emirates is doubling the financial support it provides for low-income Emirati families to 28 billion dirhams ($7.6 billion) to help them with soaring living costs in the Gulf state. The expanded budget allocation, reported by state news agency WAM on Monday, includes increasing existing benefits and establishing new ones targeted at mitigating the impact of inflation on food prices, and rising fuel and household energy costs. It was not immediately clear how the expansion of financial support would be funded. UAE is a major oil-producing nation. Some of the new benefits include financial support…

Read More Here

09

Jun

Disney+ takes on rivals in Middle East streaming market

DUBAI, June 9 (Reuters) - Disney+launched its steaming service in the Middle East and North Africa on Wednesday, vying for market share in a region where the population is young but few people so far use such services. Disney+ said it had gone live in 16 Arab countries and was tailoring content for the region, including offering Arabic subtitles on most offerings, particularly popular content. Netflix currently leads in the region, with more than 6.8 million subscribers, according to Digital TV Research. Starzplay, an Abu Dhabi-based competitor, ranks second with just under 2 million, followed by Amazon with 1.4 million. Some competitors…

Read More Here

09

Jun

Israeli PM Bennett on unannounced visit to Abu Dhabi

JERUSALEM, June 9 (Reuters) - Israeli Prime Minister Naftali Bennett arrived in the United Arab Emirates on Thursday and will meet its president, Sheikh Mohammed bin Zayed al-Nahyan, an Israeli statement said. Bennett's Abu Dhabi visit had not previously been announced. The statement quoted Bennett as saying that he aimed to "build an additional level" in Israel-UAE ties founded two years ago. A handout photo made available by the Government Press Office (GPO) of Israel shows Israeli Prime Minister Naftali Bennett (L) being greeted by UAE Foreign Minister Sheikh Abdullah bin Zayed bin Sultan Al Nahyan in Abu Dhabi, United Arab Emirates,…

Read More Here

08

Jun

Emirates ranked as region’s most valuable airline brand and world’s fourth

Dubai’s Emirates airline is the fourth most valuable airline brand in the world with a valuation of $5 billion (Dh18.37 billion), according to a Brand Finance report. Emirates came first regionally and fourth internationally in the top 10 most valuable airline brands in 2022, with a valuation of nearly $5bn, the report showed. Emirates, the world’s largest long-haul carrier, will reach full recovery in terms of capacity and network by 2023. The airline, which has ramped up its hiring efforts in response to a global surge in air travel demand, expects to attain profitability next year. Emirates will also start…

Read More Here

04

Jun

Photo Story: Al Gaffal Dhow race in Dubai

Crew of Hasheem dhow owned by Sheikh Zayed Bin Hamdan Bin Zayed Al Nahyan celebrate after winning the Al Gaffal Dhow Race outside Dubai, United Arab Emirates, on Saturday. Al Gaffal long distance Sur Bin Na'air 60ft Traditional Dhow Race (Dhow is a traditional boat) in Dubai is the biggest traditional sailing race in the world. 118 boats take part in the race which starts from Sur Bu Na'air Island reach the finish line at the coast of Dubai passing by Moon Island. Via EPA-EFE/ALI HAIDER

Read More Here

24

May

Taliban to sign pact with UAE on running Afghan airports

The Taliban will sign an agreement with the United Arab Emirates (UAE) on operating airports in Afghanistan, the group's acting deputy prime minister said on Tuesday, after months of talks with the UAE, Turkey and Qatar. Mullah Abdul Ghani Baradar made the announcement in a Tweet and later told reporters in Kabul that his administration was renewing an airport ground handling agreement with the UAE. It was not immediately clear whether the agreement went beyond existing arrangements or if it included airport security, a sensitive issue for the Taliban who fought for decades against U.S.-led NATO troops and say they do not want the…

Read More Here

15

May

UAE’s newly elected ruler sees Iran, Islamists as threat to Gulf safe haven

United Arab Emirates strongman Sheikh Mohammed bin Zayed al-Nahyan, who was formally elected president on Saturday, led a realignment of the Middle East that created a new anti-Iran axis with Israel and fought a rising tide of political Islam in the region. Working behind the scenes for years as de facto leader, Sheikh Mohammed, 61, transformed the UAE military into a high-tech force, which coupled with its oil wealth and business hub status, extended Emirati influence internationally. Mohammed began wielding power in a period when his half-brother President Sheikh Khalifa bin Zayed, who died on Friday, suffered bouts of illness,…

Read More Here

15

May

World leaders pay respects in UAE after death of pro-West president

DUBAI, May 15 (Reuters) - World leaders began descending on the United Arab Emirates on Sunday to offer condolences on the death of President Khalifa bin Zayed al-Nahyan, who was succeeded by his half-brother and de facto leader Sheikh Mohammed bin Zayed. Sheikh Mohammed, now ruler of wealthy Abu Dhabi emirate, steered the Western-allied Gulf state, an OPEC oil producer and regional business hub, for years before being elected the UAE's third president by a federal supreme council on Saturday. French President Emmanuel Macron, whose country holds lucrative business and military ties with the UAE, arrived in Abu Dhabi, the…

Read More Here

14

May

UPDATE – Sheikh Mohammed bin Zayed elected UAE president

DUBAI, May 14 (Reuters) - The United Arab Emirates' de facto leader Sheikh Mohammed bin Zayed al-Nahyan was elected president of the Gulf Arab state by a federal supreme council on Saturday, solidifying his rule over the OPEC oil producer and key regional player.  He becomes president at a time when the UAE's long-standing ties with the United States have been strained over perceived U.S. disengagement from its Gulf allies' security concerns and as Western countries seek support from the region to help isolate Russia over the Ukraine conflict. The council, which groups the rulers of the seven emirates of the UAE…

Read More Here

13

May

UAE president Sheikh Khalifa bin Zayed dies

DUBAI, May 13 (Reuters) - United Arab Emirates President Sheikh Khalifa Bin Zayed Al Nahyan has died, state news agency WAM reported on Friday. He was also ruler of Abu Dhabi emirate. Under the constitution, vice-president and premier Sheikh Mohammed bin Rashid al-Maktoum, ruler of Dubai, will act as president until the federal council which groups the rulers of the seven emirates meets within 30 days to elect a new president. Khalifa, who was born in 1948, came to power in 2004 in the richest emirate Abu Dhabi and became the head of state. He is expected to be succeeded as ruler…

Read More Here

12

May

Dubai Airport sees busiest quarter in two years as travel gains pace

DUBAI, May 12 (Reuters) - Dubai's main airport on Thursday reported its busiest quarter in two years as the rebound in international travel gains pace, with its chief executive predicting Dubai International could see pre-COVID figures by the end of 2024. The Gulf hub, one of the world's leading gateways for international travel, handled 13.6 million passengers in the January-March period, more than double the 5.7 million in the same period last year. It was the best performance since 17.8 million passengers in the first quarter of 2020, before the pandemic shut most international borders and forced airlines to halt flights. The…

Read More Here

16

Apr

Vegas, Macau…Dubai? Global casinos raise bets on gambling in the Gulf

DUBAI/HONG KONG, (Reuters) - It's been the subject of quiet speculation among diplomats and executives for years, but now global casino bosses are setting their sights on a once improbable prize: gambling in the United Arab Emirates Ras Al Khaimah (RAK), one of the smaller and lesser-known of the seven emirates, said earlier this year that it planned to regulate gaming in some resorts. On the same day, Las Vegas casino giant Wynn Resorts WYNN.O said it would build a resort licensed for gaming, or gambling, on a man-made island.  The announcements could mark a watershed moment for the Gulf, a region that has…

Read More Here

09

Apr

Photo Story: Stan the T. rex on show at Natural History Museum in Abu Dhabi

The 67-million year-old Tyrannosaurus rex fossil 'Stan' is on display as part of a new exhibit at the Natural History Museum in Abu Dhabi, United Arab Emirates. The new museum and scientific research center showcases the story of Earth's natural history spanning 13.8 billion years. Via EPA-EFE/ALI HAIDER

Read More Here

01

Apr

Israel says UAE free trade deal reached

JERUSALEM, April 1 (Reuters) - Israel and the United Arab Emirates have concluded negotiations for a free trade agreement, Israel's Economy Ministry and the UAE foreign trade minister said on Friday, after formally establishing ties in 2020. The trade agreement includes 95% of traded products, which will be customs free, immediately or gradually, including food, agriculture and cosmetic products, as well as medical equipment and medicine, the Israeli Economy Ministry said in a statement. The agreement included regulation, customs, services, government procurement and electronic trade and will come into effect when signed by the countries' economy ministers and ratified, the statement said, though no timetable…

Read More Here

31

Mar

Binance steps up hiring, activity in crypto hub Dubai

DUBAI, March 31 (Reuters) - Binance, the largest crypto exchange by trading volume, is recruiting over 100 positions in the United Arab Emirates (UAE) and is helping to shape Dubai's new virtual assets' regulations, its regional head said. Binance's links with the Gulf state have deepened in recent months as the UAE tries to style itself as the world's new digital assets hub and develops regulation. "It is a very progressive framework and we are very happy to be part of that process, working very closely with the Dubai government," said Richard Teng, Binance's MENA head. "I wish more regulators globally adopt…

Read More Here

13

Mar

Fearing West’s wrath, Russia’s rich look to stash wealth in Dubai

Rich Russians are trying to shift some of their wealth from Europe to Dubai to shield assets from a tightening wave of Western sanctions on Russia over its invasion of Ukraine, financial and legal sources said. Dubai, the Gulf's freewheeling financial and business hub, has long been a magnet for the globe's ultra-rich and the United Arab Emirates' refusal to take sides between Western allies and Moscow has signalled to Russians that their money is safe there. The UAE, which over the years has deepened its ties with Russia, has not matched sanctions imposed by Western nations and its central…

Read More Here

11

Mar

Dubai a favorite destination as some Moscow-based bankers beat path to exit

In the scramble by some bankers and financial industry executives to leave Moscow, Dubai is turning out to be a favorite location to land. Some bankers at Moscow offices of financial institutions such as JPMorgan Chase & Co, Rothschild & Co and Goldman Sachs Group Inc  have either left or are considering moving, as operating in Russia becomes increasingly difficult, several sources familiar with the matter said. Goldman Sachs on Thursday became the first major Wall Street bank to say it was exiting the country following Moscow's invasion of Ukraine, followed swiftly by JPMorgan Chase while Citigroup Inc  said on…

Read More Here

06

Mar

FATF  puts UAE on global ‘gray’ list

A global body focused on fighting money laundering has placed the United Arab Emirates on its so-called “gray list” over concerns that the global trade hub isn’t doing enough to stop criminals and militants from hiding wealth there. The decision by the Paris-based Financial Action Task Force puts the UAE, home to Dubai and oil-rich Abu Dhabi, on a list of 23 countries including fellow Mideast nations Jordan, Syria and Yemen. While not expected to dent business in the Emirates, a federation of seven sheikhdoms on the Arabian Peninsula home to a multitude of economic free zones and real estate…

Read More Here

03

Mar

UAE says Ukrainians eligible for visas on arrival, in apparent about-face

DUBAI, March 3 (Reuters) - The United Arab Emirates said on Thursday that Ukraine nationals are eligible for visas on arrival in the Gulf Arab state, in an apparent reversal of a decision to suspend visa waivers to Ukrainians as thousands flee war in their country. Kyiv's embassy in the UAE had said that Emirati authorities had temporarily suspended the waivers as of Tuesday, in a move that drew criticism of the Western-allied country as Europe opens its doors to refugees from Russia's invasion of Ukraine. "Concerning reports on the issuance of advance visas to Ukrainian nationals to enter the…

Read More Here

21

Feb

UAE becomes world’s top trading hub for rough diamonds -DMCC CEO

DUBAI, Feb 21 (Reuters) - The United Arab Emirates in 2021 became the top trading hub for rough diamonds, overtaking Belgium, the head of the Dubai Multi Commodities Centre (DMCC), home to the Dubai Diamond Exchange, said on Monday. Over $22.8 billion of rough diamonds were traded through the Gulf state in 2021, Ahmed Bin Sulayem, DMCC CEO and executive chairman said, adding that the polished diamond sector continues to grow. Since 2015, the UAE's rough diamond trade has grown by 76%. The UAE's total diamond trade grew 83% between 2020 and 2021, a statement from the DMCC CEO's office said. Adding…

Read More Here

14

Feb

U.S. F-22 fighter jets arrive in UAE following Houthi attacks

U.S. F-22 fighter jets arrived at an air base in the United Arab Emirates (UAE) over the weekend following a spate of unprecedented attacks in Abu Dhabi by Houthi fighters in Yemen, the U.S. Air force said on Saturday. In recent weeks, the Iran-aligned Houthis have waged a string of largely failed strikes on UAE targets that have triggered Emirati and U.S. air defenses and have even seen American troops based there briefly taking shelter. The jets arrived at the UAE base as part of a multifaceted demonstration of U.S. support after a series of attacks throughout January threatened U.S.…

Read More Here

11

Feb

U.S. to help UAE replenish missile defense interceptors after Houthi attacks

SHARM EL-SHEIKH, Egypt, Feb 10 (Reuters) - The United States will help the United Arab Emirates replenish interceptors it uses to knock down incoming missiles following a spate of unprecedented attacks by Houthi fighters in Yemen, the U.S. general overseeing Middle East operations told Reuters. In recent weeks, the Iran-aligned Houthis have waged a string of largely failed strikes on UAE targets that have triggered Emirati and U.S. air defenses and have even seen American troops based there briefly taking shelter. "We will help with replenishment of interceptors. And we'll do everything we can to assist UAE in defending themselves,"…

Read More Here

03

Feb

UAE non-oil private sector growth slows in January as COVID restricts demand – PMI

DUBAI, Feb 3 (Reuters) - The United Arab Emirates' non-oil private sector growth fell in January to its slowest in six months despite notching a 14th straight month of expansion, a survey showed on Thursday. The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) fell to 54.1 January from 55.6 in December, its lowest reading since July but in line with the reading's average since August 2009. The solid pace of expansion, despite losing some momentum, was hindered by rising COVID-19 cases that hit growth in demand, while inflation stifled purchasing activity and new employment. "The latest data further…

Read More Here

03

Feb

UAE says it blocked drone attack, little-known group claims responsibility

DUBAI (Reuters) - The United Arab Emirates said it intercepted three drones that entered its airspace over unpopulated areas early on Wednesday in the fourth such attack on the Gulf commercial and tourism hub in the past few weeks. The first three assaults, including a missile attack on Monday during a visit by Israel's president, were launched by Yemen's Iran-aligned Houthis in an escalation with a military coalition led by Saudi Arabia and which includes the UAE. The Houthis have not yet announced a new operation and Wednesday's drones attack was claimed by a little-known group calling itself the "True…

Read More Here

02

Feb

U.S. to send fighter jets and USS Cole to assist UAE after Houthi attacks

DUBAI, Feb 2 (Reuters) - The United States said it is sending fighter jets to assist the United Arab Emirates following missile attacks on the Gulf state launched by Yemen's Houthi movement, including a foiled attack aimed at a base hosting U.S. forces. Defense Secretary Lloyd Austin also told Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan in a telephone call on Tuesday that Washington would send the guided missile destroyer the USS Cole to partner with the UAE navy ahead of a port call in Abu Dhabi. "The Secretary also informed the Crown Prince of his decision to…

Read More Here

29

Jan

UAE to lift entry, transit ban on passengers from 12 African countries

DUBAI (Reuters) - The United Arab Emirates lifted an entry and transit ban on on Saturday on travellers who had recently visited South Africa, Kenya, Nigeria, Ethiopia and eight other African countries. The National Emergency Crisis and Disasters Emergency Management Authority (NCEMA) said this week it was lifting the ban on those who had visited certain African countries in the previous 14 days, imposed due to the Omicron COVID-19 variant. The other countries are Tanzania, Republic of Congo, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe. Those travelling from African countries will have to obtain a negative COVID-19 PCR test 48…

Read More Here

25

Jan

Dubai, Abu Dhabi residents on edge after Houthis attempt to strike again

Two missile attacks in a week on the United Arab Emirates have left some residents feeling on edge about security for the first time in the Gulf state's capital Abu Dhabi, home to high rise towers, world-class museums and a Formula One race track. The UAE, a business safe haven that had seen none of the violence suffered by some other Arab countries, was shaken by a Jan. 17 raid by Yemen's Houthi movement that killed three people in Abu Dhabi, the first such confirmed attack on its soil. On Monday, residents were awoken by the sounds of loud blasts…

Read More Here

24

Jan

UPDATED: UAE blocks missile attack as Yemen’s Houthis target region’s business hub

DUBAI, Jan 24 (Reuters) - The United Arab Emirates on Monday said it had foiled another Houthi missile attack following last week's deadly assault on the Gulf state as the Iran-aligned group takes aim at the safe haven status of the region's tourism and commercial hub. Yemen's Houthis, battling a Saudi-led coalition that includes the UAE, have said they aim to make Abu Dhabi pay a high price for backing militias that are blocking Houthi attempts to capture prized oil regions. The Houthis have repeatedly carried out cross-border missile and drone attacks on Saudi Arabia, and on Jan. 17 the…

Read More Here

23

Jan

UAE grounds most private drones for a month after Houthi attack

The United Arab Emirates has grounded most private drones and light sports aircraft used for recreational purposes for a month starting Saturday, the Interior Ministry said, following a deadly attack this week by Yemen's Houthis on the Gulf country. The UAE has said that the Iran-aligned Houthi movement used cruise missiles and ballistic missiles alongside drones in the attack on Monday that killed three civilians. While the Interior Ministry did not refer directly to the attack in imposing the ban, it said the decision came after finding misuse of permits granted to those who practice these sports. "MOI (Ministry of…

Read More Here

17

Jan

Three killed in UAE fuel truck blast, Yemen Houthis claim attack

DUBAI, Jan 17 (Reuters) - Three fuel trucks exploded, killing three people, and a fire broke out near Abu Dhabi airport on Monday in what Yemen's Iran-aligned Houthi group said was an attack deep inside the United Arab Emirates. The Houthi movement, which is battling a Saudi-led coalition that includes the UAE, has frequently launched cross-border missile and drone attacks on Saudi Arabia, but has claimed few such attacks on the UAE, mostly denied by Emirati authorities. Three people were killed and six wounded when three fuel tanker trucks exploded in the industrial Musaffah area near storage facilities of oil…

Read More Here

05

Jan

UAE non-oil private sector activity grows for 13th month running in Dec -PMI

DUBAI, Jan 5 (Reuters) - The United Arab Emirates' non-oil private sector expanded strongly in December, logging its 13th straight month of growth, a survey showed on Wednesday. The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) fell slightly to 55.6 in December from 55.9 in November, holding near 2-1/2-year highs. The improvement in business conditions has been boosted by the UAE's largest city Dubai hosting the Expo world fair, which began in October and ends in March. It is a marked turnaround from last year, when the UAE's PMI recorded just four months of weak expansion as the…

Read More Here

03

Jan

Daily COVID cases in Saudi Arabia above 1,000, continue to climb in UAE

Daily coronavirus cases in Saudi Arabia have climbed above 1,000 for the first time since August, while daily infections in the United Arab Emirates (UAE) haven crossed the 2,500-level. Authorities in the two Gulf Arab states did not break down the cases by COVID-19 variant. Both countries confirmed their first known case of the Omicron variant in early December. Saudi Arabia, the largest Gulf state with a population of around 30 million, on Sunday registered 1,024 new coronavirus infections and one death. Daily cases had fallen below 100 in September. Neighbouring UAE, a tourism and commercial hub now marking its…

Read More Here

27

Dec

UAE plans to scrap monopolies of some big merchant families – FT

The United Arab Emirates government has told some of its biggest business families that it plans to remove their monopolies on the sale of imported goods, the Financial Times reported. The government did not immediately respond to Reuters' requests for comment but state news agency WAM quoted a Ministry of Economy statement saying a draft law on commercial agencies was still in its legislative cycle and "it is still too early to give details". The cabinet referred the draft to the Federal National Council for discussion and possibly more amendments, it added. The FT report said the proposed legislation would…

Read More Here

23

Dec

Etihad Airways to divest several businesses

DUBAI, Dec 23 (Reuters) - Etihad Airways will divest several support service businesses to a new aviation company owned by Abu Dhabi state holding firm ADQ and to Abu Dhabi National Exhibitions Company (ADNEC), a government media office said on Thursday. The deal would add to ADQ's mobility and logistics portfolio, allow Etihad to capitalise on global travel market opportunities and boost Abu Dhabi's aviation ecosystem, the office added. Photo - An Etihad Airways Airbus A320. EPA-EFE/DANIEL IRUNGU

Read More Here

13

Dec

UPDATED: Ground-breaking meeting between Israeli and UAE leaders

ABU DHABI, Dec 13 (Reuters) - Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan hosted Israel's Prime Minister Naftali Bennett on Monday in the first ever public meeting between the United Arab Emirates' de facto ruler and an Israeli leader. Israel's ambassador to Abu Dhabi said the issue of Iran was on the agenda for their talks, which follow the formalisation of Israel-UAE relations last year under a U.S.-led regional initiative. While shared concern about Iranian activity was among reasons for the diplomatic moves, the UAE has also been trying to improve relations with Tehran. Releasing photographs of Bennett…

Read More Here

03

Dec

Cementing ties with France, UAE places $19 bln order for warplanes, helicopters

DUBAI, Dec 3 (Reuters) - The United Arab Emirates ordered 80 Rafale fighter jets and 12 military helicopters on Friday, deepening economic and political ties with France through an arms contract worth 17 billion euros ($19.20 billion). The largest ever overseas sale of the French warplane was sealed as French President Emmanuel Macron began a two-day trip to the Gulf, during which he will also visit Qatar and Saudi Arabia. "This contract is historic," French Armed Forces Minister Florence Parly said in a statement. The French presidency said deal, signed at a ceremony between Abu Dhabi Crown Prince Sheikh Mohammed…

Read More Here

02

Dec

Photo Story: 50th UAE National Day at EXPO 2020 Dubai

Members of Al Fursan aerobatics demonstration team of the United Arab Emirates (UAE) perform during the celebration of the 50th UAE National Day at the EXPO 2020 Dubai in the Gulf emirate of Dubai, United Arab Emirates, 02 December 2021. The UAE National Day on 02 December 2021 marked the unification of the seven emirates, Abu Dhabi, Dubai, Sharjah, Fujairah, Ras al-Khaimah, Ajman and Umm al-Quwain into the United Arab Emirates, and freedom from the British Protectorate. Via EPA-EFE/ALI HAIDER

Read More Here

29

Nov

Dubai approves housing projects worth 3.8 bln dirhams

DUBAI, Nov 28 (Reuters) - The emirate of Dubai has approved housing projects worth 3.8 billion dirhams on Sunday, Sheikh Mohammed bin Rashid Al Maktoum said on Twitter. The project includes the distribution of 2000 residential plots, 900 residential villas and a complex worth 500 million dirhams for small families, the Dubai ruler added. https://twitter.com/HHShkMohd/status/1464886453520027650

Read More Here

29

Nov

New UAE criminal code among 40 legal changes in reform push

The United Arab Emirates said a new criminal code would come into force in January as part of what it called the most sweeping legal reform in the Gulf state's history. State news agency WAM reported the government is changing 40 laws this year. It did not make clear, however, which of the changes - which concern commercial companies, online security, trade, copyright, residency, narcotics and social issues - were new and which had been previously reported. One change that appears new is the ratification of a Federal Crime and Punishment Law, effective from Jan. 2, 2022, designed to better…

Read More Here

25

Nov

UAE general accused of torture elected as Interpol president

Global police agency Interpol elected Emirati Inspector General Ahmed Nasser Al-Raisi as its president on Thursday, despite accusations from rights groups that he failed to act on allegations of torture of detainees in the United Arab Emirates. Although the presidency is a part-time role and does not oversee day-to-day operations of the agency, the president is a high profile figure who chairs meetings of Interpol's assembly and executive committee. Human Rights Watch and the Gulf Centre for Human Rights said in May that his department had not investigated credible allegations of torture by security forces, and electing Raisi would put…

Read More Here

18

Nov

UAE to introduce new standards for bullion trade

DUBAI, Nov 18 (Reuters) - The United Arab Emirates (UAE) said on Thursday it would launch a responsible sourcing scheme for gold refiners in February and planned to publish monthly gold import and export data, part of a push to increase transparency and combat illicit trading. The UAE is one of the world's biggest bullion trade hubs and has come under pressure to tighten regulation. The London Bullion Market Association (LBMA), for example, has said it could blacklist countries that lack adequate oversight, restricting their access to the mainstream gold trade. Minister of State for Foreign Trade Thani Bin Ahmed…

Read More Here

15

Nov

Juggernauts grab spotlight from jumbos at Dubai Airshow

DUBAI, Nov 14 (Reuters) - The nuts and bolts of post-pandemic trade loomed over the first major aerospace event since the coronavirus crisis on Sunday, as planemakers touted new freighters plans at the Dubai Airshow. Plane giants Airbus and Boeing are hoping to launch the West's first all-new flying juggernauts in 25 years as e-commerce gets a boost from the global pandemic. Airbus, without a buyer after launching a freighter version of its A350 jet in the summer, was knocking on the door of one the industry's go-to patrons for new plane launches, Steven Udvar-Hazy's Air Lease Corp, industry sources…

Read More Here

14

Nov

UPDATED: People flee homes as quakes strike southern Iran, killing at least one

DUBAI, Nov 14 (Reuters) - Two strong earthquakes struck southern Iran near the port of Bandar Abbas on Sunday, prompting residents to flee their homes and killing at least one person, state TV reported. The quakes measured 6.3 and 6.4 magnitude, jolting the province of Hormozgan, state TV said, and the tremors were felt across the gulf in Dubai. "One person died after an electricity pole fell on him," Iranian state TV said, citing local officials. Iran is crisscrossed by major geological fault lines and has suffered several devastating earthquakes in recent years. The European Mediterranean Seismological Centre put the…

Read More Here

08

Nov

Dubai aims to attract 25 million tourists in 2025

Dubai plans to merge the departments of economy and tourism and hopes to attract 25 million tourists in 2025, Sheikh Hamdan bin Mohamed Bin Rashid Al Maktoum, Dubai's Crown Prince, said on Twitter over the weekend. Sheikh Hamdan added that Helal Al Marri will be appointed as a general director of the new department. Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum said the new department's main objectives include increasing the added value of the industrial sector by 150% over the next five years, expanding foreign export markets for local products by 50%, and increasing the number of tourists by…

Read More Here

08

Nov

UAE to audit all gold refineries in crackdown on illicit trade

LONDON, Nov 8 (Reuters) - The United Arab Emirates will require all gold refineries to undergo annual audits to ensure their suppliers are responsible, it told Reuters, in an effort to combat illicit trading. Industry figures said this should raise standards in the UAE, one of the world's biggest bullion trade hubs, but may also shift flows of gold linked to crime or human rights abuses to other countries, for example in Africa, where the number of gold refineries is growing rapidly. A Reuters investigation in 2019 found that UAE took in gold worth billions of dollars smuggled from Africa,…

Read More Here

08

Nov

Abu Dhabi to allow non-Muslim civil marriage under family law shakeup

Non-Muslims will be allowed to marry, divorce and get joint child custody under civil law in Abu Dhabi according to a new decree issued on Sunday by its ruler, state news agency WAM said. It is the latest step in the United Arab Emirates -- where personal status laws on marriage and divorce had been based on Islamic sharia principles, as in other Gulf states -- to maintain its competitive edge as a regional commercial hub. The decree from Abu Dhabi's Sheikh Khalifa bin Zayed al-Nahayan, who is also president of the UAE federation of seven emirates, said the law…

Read More Here

30

Oct

UAE to withdraw diplomats from Lebanon -statement

Oct 30 (Reuters) - The United Arab Emirates has decided to withdraw its diplomats from Lebanon and ban its citizens from visiting the country, UAE Minister of State Khalifa Shaheen Almarar said in a statement to Reuters on Saturday. The decision came in solidarity with Saudi Arabia in light of the unacceptable approach by some Lebanese officials towards the kingdom, he added. Saudi Arabia expelled Lebanon's envoy and banned all Lebanese imports on Friday, and Bahrain and Kuwait followed suit, giving the top Lebanese diplomats there 48 hours to exit. (Reporting by Aziz El Yaakoubi; Writing By Moaz Abd-Alaziz; Editing…

Read More Here

13

Oct

Dubai’s DP World says long time until shipping supply chain disruptions end

There is no end in sight to the shortage of shipping containers, port congestion and sky rocketing freight rates that have rattled global trade, the chairman of Dubai ports giant DP World said on Wednesday. The bottlenecks have been caused by a combination of COVID-19 lockdowns and an unexpectedly rapid recovery in demand as economies emerge from the pandemic. “These are the complications. Nobody knows how long it’s going to take. I think it’s going to take a long time,” said Sultan Ahmed bin Sulayem at a conference at Expo 2020 in Dubai, declining to forecast when the disruptions would…

Read More Here

07

Oct

Dubai property prices higher but rents continue to fall – CBRE

Average residential property prices in Dubai rose 4.4% in the 12 months to August, the highest annual growth since February 2015, real estate investment firm CBRE Group said on Thursday. However, an ongoing fall in rents signalled continued weakness in the long-troubled sector. Dubai rents continued to trend lower, falling by 2.7% on average in the year ending in August, CBRE said in a report. Reuters reported in March that the luxury segment of Dubai's property market has seen a boost following a sharp downturn due to COVID-19, but recovery for the sector is still a long way off. Even…

Read More Here

04

Oct

Abu Dhabi’s Etihad seeks to hire up to 1,000 cabin crew

Abu Dhabi's Etihad Airways said on Monday it planned to hire up to 1,000 cabin crew as travel demand rebounds with the easing of international border restrictions and it increases operations. The state-owned carrier would host recruitment days in ten cities from Oct. 11 to Nov. 22 including in Abu Dhabi, Amsterdam, Barcelona, Beirut and Milan, it said. "The last 18 months have been incredibly difficult, however there is much to be positive about as travel restrictions ease and we ramp up operations to meet growing demand," Head of Crew Performance and Support Jihad Matta said in a statement. Photo…

Read More Here