Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Iran wants closer ties with UAE: foreign minister

Iran Foreign Minister Hossein Amir-Abdollahian. (AFP)
  • In 2020, the UAE established diplomatic relations with Israel, a move which Tehran condemned
  • Abu Dhabi has been pursuing a policy of rapprochement with former regional rivals including Qatar, Turkey and Iran
TehranIran– Iran’s top diplomat said Wednesday his country wants to boost relations with the United Arab Emirates, welcoming an Emirati ambassador back to Tehran after a six-year absence. 

The UAE and other Gulf states had scaled back their ties with the Islamic republic in 2016 after Iranian protesters attacked Saudi Arabia’s diplomatic missions in Iran following Riyadh’s execution of prominent Shiite Muslim cleric Nimr al-Nimr.

“We would like to broaden our relations with our neighbors, including the United Arab Emirates,” Foreign Minister Hossein Amir-Abdollahian told the new Emirati ambassador, Saif Mohammed al-Zaabi, when they met Tuesday, according to an official statement released early Wednesday.

Despite the diplomatic downgrade, the oil-rich UAE has maintained strong economic ties with the Islamic republic.

In 2020, the UAE established diplomatic relations with Israel, a move which Tehran condemned.

But Abu Dhabi has been pursuing a policy of rapprochement with former regional rivals including Qatar, Turkey and Iran.

Amir-Abdollahian “also stressed the need for the region’s countries to cooperate for the sake of regional stability,” according to the ministry’s statement.

In July, the UAE said it was considering sending an ambassador back to Tehran with the aim of “boosting bilateral ties,” state media reported at the time.

Iran said last month that Kuwait had sent its first ambassador to Tehran since 2016.

Two Middle Eastern powerhouses, Shiite Iran and Sunni Saudi Arabia have both expressed willingness to overcome their disputes and were engaged in bilateral talks, which were first made public in April 2021.