The pact aims at securing a comprehensive balance between rights and obligations between investors and the host country

The eLink Station is fully sustainable and includes vapour recovery systems to reduce emissions while loading from storage tanks. It is powered by biodiesel, features LED digital screens and lighting, and is equipped with a smart meter.

With the bloc pumping less than needed, prices are set to be volatile, says IEA Oil demand is expected to rise by another 3.3 mbd in the three months The UAE’s deliberations with OPEC+ regarding its position on an extension of an oil supply deal are still underway, the Gulf...

Major OPEC producers Saudi Arabia and the United Arab Emirates have reached a compromise in a standoff over crude output quotas.

The UAE opened an embassy in Israel on Wednesday in Tel Aviv's new stock exchange building as part of the latest normalization move under a deal brokered by Washington last year.

The United Arab Emirates will launch its first digital currency by 2026, the central bank of the country said on Monday.

Some 26 Colombians have been accused of taking part in the pre-dawn murder of president Jovenel Moise Participation of Colombian mercenaries highlights the lucrative transnational mercenary market Some fight in Yemen or Afghanistan, others guard oil pipelines in the United Arab Emirates; and yet more turned up in Haiti this...

A public row between Saudi Arabia and the UAE has exposed the steadily diverging paths of once inseparable allies who are competing to profit from what may be the world's last oil boom. Wrinkles in relationships between the Gulf states are usually resolved behind palace walls, but a fiery debate...

Imports from UAE $6.2 billion compared to $5.9 billion last year The highest increase in imports recorded from Saudi Arabia Pakistan’s imports from four GCC countries were nearly $10.6 billion during the first 11 months of 2020-21, a report said. The country's imports from UAE were worth nearly $6.2 billion...

74% of the customers buy car insurance online in the UAE More than 90% of the consumers review car insurance offers online A large number of motorists in the UAE prefer to buy car insurance online, according to a survey. Insurance aggregator Policybazaar.ae has said that 74 percent of the...

The UAE on Sunday pushed back against a plan by the OPEC+ group to extend a pact to cut oil production beyond April 2022 There are concerns that if an agreement among the 23 member-states cannot be reached, the alliance could break apart The disagreement between Saudi Arabia and the...

72.1 percent of the population fully vaccinated   UAE has approved emergency registration of Moderna's vaccine to combat variants By inoculating more than 72.1 percent of the country's population, the UAE has become the world's most fully vaccinated country, overtaking Seychelles to rank number one in terms of total doses administered...

The move comes seven weeks after the oil-rich kingdom permitted fully immunised citizens to travel abroad The UAE  is a key leisure destination for Saudis. Saudi Arabia has suspended flights to the UAE, Ethiopia and Vietnam, including the neighbouring United Arab Emirates, to protect against "a mutated strain of the...

Seeks the OPEC+ decision to extend global supply pact deferred to another meeting OPEC's Joint Ministerial Monitoring Committee (JMMC) makes production hike conditional to the extension of the agreement   The UAE said on Sunday it supports an increase in oil production in August and proposed that OPEC+'s decision on...

Across the region, the population and wealth of HNWIs witnessed a growth of 13.2% and 17.2% The number of millionaires in Saudi Arabia and the UAE has grown almost at par   The population of high net worth individuals (HNWIs) grew 6.8 percent to 0.8 million while their wealth grew...

Many individuals such as diplomatic missions exempted Cases of Delta variant have been found in many countries Seeking to keep out the new dangerous variants of the coronavirus, the UAE government would not allow citizens to travel to 14 countries on its no-go list. The no-go countries – India, Pakistan,...

Ban to ensure the variant is kept out of the kingdom All travelers to the kingdom will have to undergo quarantine Alarmed at the outbreak of more infectious variants of the coronavirus in the world, and its neighborhood, Saudi authorities are banning travel, without prior permission, to and from the...

Saudi Arabia has suspended flights to three countries, including the neighbouring United Arab Emirates, to protect against a coronavirus variant, the interior ministry said Saturday. The move comes seven weeks after the oil-rich kingdom permitted fully immunised citizens to travel abroad, after a ban on foreign trips that lasted more...

The billboard is made of reinforced transparent acrylic It took a team of team of 32 people to build the structure Havas Middle East has announced the launch of the world’s first swimmable billboard in Dubai, on behalf of Adidas, which is five meters high, three meters deep and holds...

UAE objects to extending of cuts to the end of 2022 as it seeks to grow production Members consider whether to continue reviving crude supplies gradually Major oil-producing countries on Thursday failed to agree to boost output in August to meet growing demand and limit recent price rises, adjourning their...

The Golden Residency program is a long-term residence visa the UAE started in 2019 for foreign nationals who want to live, work and study in the country without a national sponsor It also gives foreign entrepreneurs 100% ownership of their business on the UAE mainland The UAE has started issuing...

Golden Residency visa was created last year for professionals, specialized degree holders HR ministry lays down criteria for work permits The UAE government has said it will start issuing work permits for Golden Residency holders. Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum had in November 2020 announced that the UAE...

  The agreement was previously signed between the two countries in September 2003 Both parties aim to avoid double taxation without creating opportunities for non-compliance with the tax system In order to remove all the impediments on the path of trade and investment between the two countries, the United Arab...

A notice to airmen (NOTAM) issued by the UAE civil aviation authority informed the airlines of suspension of flight services to and from 14 countries including India till July 21 in view of the Covid second wave. In India, the expats have been affected badly following the suspension of regular...

 Pfizer jab more likely to be trusted by 25-34 age group adults AstraZeneca vaccine considered second safest vaccine in both countries Dubai: Most residents of the UAE and Saudi Arabia believe the Pfizer-Biotech vaccine is the safest among the available Covid-19 vaccines, according to a study by market research firm,...

The two countries normalized ties last year Israeli foreign minister calls new consulate a 'center of cooperation' The United Arab Emirates and Israel are going to sign more cooperation deals in the future, according to the visiting Israeli foreign minister Yasir Lapid, who is in the UAE on a landmark...

Exploring the product of green hydrogen powered by carbon-free nuclear energy part of the deal French company EDF owns the largest nuclear fleet worldwide   In keeping with the United Arab Emirates’ pursuit of clean electricity, and its plan to tackle climate change, it has signed an agreement with France...

The group had announced anti-dowry policy on International Women’s Day The clause incorporated in the employment contract Any employee of multinational conglomerate Aries Group who accepts or gives dowry will have to leave the company and face legal actions, local reports on Wednesday, June 30, quoted the group as saying....

Lapid's trip comes after the nations moved to normalise ties Israel, UAE have signed a raft of deals ranging from tourism to aviation Israel's top diplomat Yair Lapid opened the Jewish state's first embassy in the Gulf during a trip to the United Arab Emirates on Tuesday after ties were...

Amazon's Climate Pledge aims to achieve net-zero across its businesses by 2040 The projects are expected to come up Saudi Arabia, UAE, and Egypt The Middle East and North Africa region will see a number of sustainable projects being launched by global eCommerce giant Amazon as part of its Climate...

Both targeting Japan, a key oil, gas importer Both also eager to get into green hydrogen, ammonia industry   Saudi Arabia and the UAE are competing to become blue hydrogen and ammonia exporters as their oil output capacity expands, s&pglobal.com reported. Saudi Aramco, the world's No. 1 listed oil and...

ICC cited the effects of the second wave of Covid-19 in India for its decision The tournament will now be held from October 17 to November 14 across three stadiums n the UAE and one in Oman   The International Cricket Council announced on Tuesday, June 29, that the Men’s...

Tamer Group calls acquisition step towards its digital plan aimed at contributing to Saudi Vision 2030 Mumzworld Founders Mona Ataya and Leena Khalil will continue to lead the company   Saudi-based Tamer Group has acquired a majority stake in Mumzworld, the UAE-based mother, baby and child (MBC) e-commerce platform, for...

Yair Lapid is the first ever Israeli minister to officially visit the UAE Since the normalization accord with the UAE was brokered by then US president Donald   Israel's top diplomat Yair Lapid on Tuesday began the first ever official visit by an Israeli minister to the United Arab Emirates,...

Austria will open border for tourists from all across the world, including GCC, from July 1 The move comes as the European country post looks to implement a post-Covid-19 strategy Austria has announced that it will open its border for tourists from all across the world, including those in the...

59 percent claim remote work option is an important aspect in their workplace In the UAE, there is a higher preference for larger companies About 74 percent of UAE professionals say their potential workplace should promote the use of advanced technology while 59 percent claim remote work option is an important...

UAE’s budget balance improved as its economy recovers It will enter 25 new international markets for foreign trade Boosted by an improved budget balance in the first half of the year, as the economy began recovering from the bruising effects of the Covid-19 pandemic, ruler of Dubai Sheikh Mohammed bin...

Increased vaccinations, protective measures, contactless in-store experience key to rebuilding UAE consumers' confidence 73% of consumers admit to have changed their shopping habits to adapt to the 'new normal' About 46 percent of UAE consumers expect the effects of the Covid-19 pandemic to last at least another year, according to...

The UAE is also the largest foreign investor in Egypt, as it contributes to projects with capital exceeding $7bn Egypt’s exports to the UAE were $2.882bn in 2020, compared to $2.51bn in 2019 The volume of trade between Egypt and the United Arab Emirates shot up to $4.11 billion in...

Key challenges faced by the UAE food and beverages sector are limited pricing power, a surge in transport costs, and intense competition within the local supply chain segments The UAE imports 90 percent of its food and beverages sector needs Key challenges faced by the United Arab Emirates (UAE), which...

Offer price range has been set at AED 2.55 to AED 3.05 per share  The IPO will continue till 6 Jul 2021 for individuals and other investors in the UAE UAE's state investor Mubadala's statellite company Yahsat on Sunday announced the initial public offering, setting an indicative price range that...

SMEs identify easier access to funding, digital payments, training and upskilling staff as key drivers of growth Rising cost of doing business worries the majority Confidence of Small and Medium Enterprises (SMEs) in the UAE is on the rise after the disruptions caused by the Covid-19 pandemic, says a Mastercard...

HSBC said its Navigator 2020 report showed 81 percent of companies in the UAE were expected to increase investment spending by end-2021 The funding is intended to drive UAE economy back on the path of growth In a big boost to companies in the United Arab Emirates, HSBC disclosed on...

73 percent of consumers have admitted to changing their shopping habits The spending power of people has taken a big hit due to Covid The coronavirus pandemic has seen a drastic shift in consumer behavior in the world and the United Arab Emirates (UAE) has been no different in this...

The project is the biggest investment in Iraq's renewable energy industry Iraq is planning to build a number of power plants in the coming years Iraq is looking to build solar power projects in central and southern Iraq, with a total capacity of 2,000 megawatts, and it has teamed up...

Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite the pandemic Trade between Egypt and Britain increased 8 percent year-on-year to £519 million ($722 million) in the first quarter of 2021, said Nasser Hamed, director of the EU Administration...

The product has Shariyah Review Bureau certification Customers can opt for a fee-free Islamic account or a conventional one     Jingle Pay, a UAE homegrown money service business, will offer its customers an option to open an Islamic account or opt for a conventional alternative In a statement, the...

The deal is valued at AED4.07 billion ($1.11 billion), as it will give Arkan 5.1 billion ordinary shares at a cost of AED0.798 ($0.22) each Once the deal goes through, Arkan’s holding company Senaat would own 87.5% of its entire issued share capital   United Arab Emirates-based Arkan Building Materials...

This was a 53% year-over-year increase, driven by the digital shift accelerated by the Covid-19 pandemic  E-commerce accounted for 8% of the country’s entire retail market during the same year The Dubai Chamber of Commerce and Industry was quoted by local reports as saying that the UAE’s retail e-commerce market...

94 percent of adults each in both countries considering doing more activities virtually to reduce carbon footprint Over a third of those surveyed say they will work remotely in some form after Covid-19 restrictions are lifted More than half of the adults in the UAE (54 percent) and Saudi Arabia...