Trends - United Arab Emirates - Business Recorder

United Arab Emirates

UAE significantly slashed funding for Palestinian refugee agency in 2020

The United Arab Emirates drastically reduced funding to the United Nations Agency for Palestinian Refugees (UNRWA) in 2020, as it signed a U.S-brokered normalisation accord with Israel.
The Gulf state contributed $51.8 million to the refugee agency in 2018 and 2019, but it reduced that contribution by an unprecedented margin in 2020, down to a mere $1 million.

Updated 08 Feb, 2021 10:25am

World

Egypt frees Al Jazeera journalist after Qatar thaw

CAIRO: Egypt has freed a journalist for Qatar's Al Jazeera, a security source said Friday, after four years in jail...

Published 06 Feb, 2021 04:06am

World

Kuwait bans entry for non-citizens, Saudi Arabia cancels events

The Saudi Interior Ministry said in a statement early Thursday that entertainment activities and events as well as in-restaurant dining would be suspended for 10 days, open to renewal.

Published 04 Feb, 2021 10:59am

Business & Finance

Dubai house prices to drop at slower pace

When asked what would be the primary driver of housing market activity this year, nine property analysts said a successful vaccine rollout and an economic recovery. One said fiscal stimulus and another said monetary policy.

Published 31 Jan, 2021 01:52pm

World

Italy makes permanent arms sale freeze to Saudi Arabia

ROME: Italy on Friday revoked approval for arms sales to Saudi Arabia and the United Arab Emirates over the conflict...

Published 30 Jan, 2021 03:55am

World

Secretary of State Blinken says US committed to Israel's security

The so-called Abraham Accords is a US-brokered agreement to normalize diplomatic ties between Israel and Arab and Muslim countries.

Published 28 Jan, 2021 10:42am

World

Israeli sex tourists aggravate UAE's human trafficking ordeal

The main victims of human trafficking hail from India, Pakistan, China, and Bangladesh
Most migrants are compelled to sign employment contracts in a language they’re unable to read and thus agreeing to conditions and wages far lower than they had been promised
Traffickers employ many tactics to force women to work, often locking the victims in small rooms without food or water and subjecting them to physical and verbal abuse

Published 27 Jan, 2021 01:06pm

World

Dubai replaces health authority chief as UAE sees surge in COVID-19 cases

Sheikh Mohammed bin Rashid al-Maktoum appointed Awad Saghir al-Ketbi as the new director general of the Dubai Health Authority, replacing Humaid al-Qutami.
The country has largely removed coronavirus restrictions with the exception of face masks in public and social distancing.

Published 25 Jan, 2021 06:42pm

World

Israel-UAE partnership launches $100 million tech investment fund

Liquidity Capital, an Israeli fund management company has joined with Vault Investment, a Dubai-based company, to launch a $100 million debt investment fund.
The Dubai-based fund will target technology startups in the region, especially those looking for alternative sources of funding.

Updated 25 Jan, 2021 01:35pm

World

UAE cabinet approves setting up embassy in Tel Aviv

A statement from the Israeli foreign ministry said Israel’s embassy in Abu Dhabi officially opened on Sunday with the arrival of the country’s envoy there, albeit in a temporary location until permanent premises are found.

Published 25 Jan, 2021 10:23am

Israeli cabinet approves deal upgrading ties with Morocco

OCCUPIED JERUSALEM: Israel's cabinet on Sunday approved a deal to upgrade ties with Morocco, the fourth Arab country...

Published 25 Jan, 2021 04:23am

World

Denmark suspends UAE flights over virus test concerns

All air passengers arriving in Denmark need to show a negative virus test from the previous 24 hours.
The flight ban will run from Friday until Wednesday, during which time Denmark will not accept any negative tests from the UAE.

Published 22 Jan, 2021 05:41pm

Business & Finance

UAE signs deal with U.S. to buy 50 F-35 jets and up to 18 drones: sources

The jets are a major component of a $23 billion sale of high-tech armaments from General Atomics, Lockheed Martin Corp and Raytheon Technologies Corp to the UAE announced this fall.

Published 21 Jan, 2021 10:57am

World

Israeli tourists stealing from Dubai hotels: report

Israeli tourists visiting the United Arab Emirates (UAE) have been accused of stealing items from hotel rooms in Dubai.
Complaints of Israeli tourists stealing from hotels come only a month after the first commercial passenger flight from Israel to the UAE was initiated.

Updated 08 Jan, 2021 04:03pm

Markets

Gulf stocks rise on higher oil prices as OPEC+ expected to cap output

The Qatari index was up 0.1% as Industries Qatar advanced 1.2%, while the Gulf's largest lender Qatar National Bank gained 0.7%.

Published 04 Jan, 2021 01:26pm

World

Research body files lawsuit against State Department, to block $23 billion weapons deal to UAE

In an effort to block the sale of $23 billion in advanced military systems to the United Arab Emirates, a foreign policy research body is suing Secretary of State Mike Pompeo and the State Department.
Critics argued that the Trump Administration did not go through the proper congressional review process and left unanswered questions about the purpose of the transfer, which included F-35 advanced fighter jets and MQ-9 reaper drones.

Updated 01 Jan, 2021 03:24pm

Markets

UAE stocks slip after first cases of new virus variant detected

Elsewhere, the shopping centres owner Arabian Centres gained 1.8% after it proposed to distribute a cash dividend of 0.5 riyal per share for the first half of the year.

Published 30 Dec, 2020 03:07pm

World

UAE reports 'limited number' of cases of new coronavirus variant

UAE on Tuesday reported 1,506 new COVID-19 cases in the last 24 hours, taking the overall tally of those infected with the virus in the country to 204,369.

Published 30 Dec, 2020 12:09am

Business & Finance

Dubai economy to grow 4% in 2021, rebounding from this year's contraction

The economy was hit hard by the coronavirus outbreak, which hurt its key tourism, real estate and trade sectors.

Published 24 Dec, 2020 12:44pm

Dubai to begin inoculations with Pfizer-BioNTech vaccine from Wednesday

Qatar has also granted emergency use authorisation for the COVID-19 vaccine developed by Pfizer and BioNTech, while fellow Gulf Arab state Oman will receive its first Pfizer-BioNTech vaccine shipment on Wednesday.

Published 23 Dec, 2020 09:08am

Pakistan

After UAE, Bahrain royals also given Houbara bustard hunting permits

Eleven members of the royal family of the United Arab Emirates (UAE) have already arrived in Pakistan to hunt Houbara bustards in Chagai district.
- The UAE royals would stay in the area for one week.

Published 22 Dec, 2020 11:03am

World

Israeli spyware software used by Saudi Arabia, UAE to hack Al Jazeera journalists: Report

According to a cyber-security watchdog, dozens of journalists at the Al Jazeera Media Network were targeted this year by advanced Israeli spyware, linked with the governments of Saudi Arabia and the United Arab Emirates.
Researchers from the Citizen Lab at the University of Toronto published a report on Sunday, detailing how the Pegasus spyware infected the cellular devices of 36 journalists, producers, anchors and executives at the media network.

Published 21 Dec, 2020 06:27pm

Markets

Italy's Eni, Thailand's PTTEP win offshore exploration license in UAE

The concession expires in 35 years if the exploration phase, which can last for up to nine years, is successful.

Published 21 Dec, 2020 03:58pm

Pakistan

Moeed urges world community to prevent India from destabilising region

"We have informed the world that we know exactly what India wants to do. We also know that some capitals were already aware."

Published 18 Dec, 2020 09:24pm

Pakistan

Qureshi, UAE counterpart discuss bilateral relations, Pakistani diaspora's welfare

Qureshi also appreciated the UAE’s leadership for its consistent support Pakistan, especially during COVID-19 pandemic.
"The welfare of our 1.6 million strong Diaspora in the UAE was discussed, with the strengthening of our people to people ties a cornerstone of our bilateral relationship," Qureshi tweeted.

Published 18 Dec, 2020 02:44pm

World

Israeli men going in droves to UAE to "sleep with prostitutes"

Prostitution in Dubai has allowed Israeli men to come to town with thousands of dollars in their pockets just to fulfill their sexual desire
New development comes a month after UAE opened its airspace to Israel

Published 18 Dec, 2020 12:15pm

World

US Senate backs massive arms sales to UAE after Trump veto threat

Some lawmakers also worried that the weapons transfers might violate US guarantees that Israel will retain a military advantage in the region. But Israel, which enjoys strong support in Congress, has said it does not object to the sales.

Published 10 Dec, 2020 11:03am

Markets

UAE's ADNOC awards Occidental onshore exploration concession

Occidental will hold a 100% stake during the exploration phase, investing up to 514 million dirhams ($140 million), including a participation fee, for oil and gas, it said in a statement.

Published 09 Dec, 2020 01:57pm

UAE registers China's Sinopharm vaccine, says 86% effective

"The analysis also shows the vaccine to have 99 percent seroconversion rate of neutralising antibody and 100 percent effectiveness in preventing moderate and severe cases of the disease.

Published 09 Dec, 2020 12:17pm

Business & Finance

DP World chairman sees at least $5bn of UAE-Israel trade

"We estimate at least $5 billion of trade will happen between our countries in the beginning and this will grow," DP World chairman Sultan Ahmed bin Sulayem said.

Published 07 Dec, 2020 12:26pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 2	278.40
USD PKR Interbank Buying / May 2	278.20
USD to Japanese Yen / May 2	155.37
USD to Swiss Franc / May 2	0.91
Pound Sterling to USD / May 2	1.25
Euro to USD / May 2	1.07

Stock	Volume
S&P 500 / May 1	5018.39
Nasdaq / May 1	15605.48
Dow Jones / May 1	37903.29
India Sensex / May 2	74720.19
Tokyo Nikkei / May 2	38236.07
Hang Seng / May 2	18192.04
FTSE 100 / May 2	8149.68
Germany DAX 30 / May 2	17906.01

Item	Value
Petrol/Litre / May 2	288.49
Crude Oil USD/Barrel / May 2	79.53
Karachi Cotton PKR/37.32 KG / May 2	20000
Gold 10 Grams PKR / May 2	206619
Gold Spot USD/Ounce / May 2	2311.74
Diesel/Litre / May 2	281.96

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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