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Feb 04, 2023 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

United Arab Emirates

UAE is mediating between India and Pakistan, says senior diplomat

UAE is mediating between India and Pakistan, says senior diplomat

  • Ambassador Yousef Al Otaiba says UAE played a role “in bringing Kashmir escalation down and created a ceasefire
  • Ties between India and Pakistan have been frozen since a suicide bombing of an Indian military convoy in Kashmir in 2019
Published 15 Apr, 2021 02:16pm
IMF raises most Gulf countries' economic growth forecasts
World

IMF raises most Gulf countries' economic growth forecasts

  • Saudi Arabia's economy, the region's largest, is expected to grow 2.9% this year, up from the 2.6% forecast in January, the IMF said in its latest World Economic Outlook, released this week.
  • Oman saw the biggest positive revision of the Gulf countries, from expectations of a 0.5% contraction this year to a forecast of 1.8% growth.
Published 07 Apr, 2021 05:46pm
UK begins rollout of Moderna Covid vaccine in Wales
World

UK begins rollout of Moderna Covid vaccine in Wales

  • The United Kingdom has vaccinated 31.6 million people with a first dose of a COVID-19 vaccine - and administered 5.5 million second doses. It will shortly have vaccinated half of its total population.
Published 07 Apr, 2021 11:01am
Netanyahu shelves UAE trip
Print

Netanyahu shelves UAE trip

OCCUPIED JERUSA-LEM: Israeli Prime Minister Benjamin Netanyahu cancelled a historic visit to the United Arab ...
Updated 12 Mar, 2021 10:07am
Netanyahu to visit UAE on Thursday
World

Netanyahu to visit UAE on Thursday

  • There was no immediate confirmation of the trip, which Netanyahu postponed last month due to the coronavirus pandemic, from the Israeli prime minister's office or the UAE.
  • Israel's Haaretz newspaper said Netanyahu would meet Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan during the visit.
Published 10 Mar, 2021 06:37pm
United Arab Emirates attracts corporate billions to climb tax-haven ranking
World

United Arab Emirates attracts corporate billions to climb tax-haven ranking

  • The index by the Tax Justice Network, which documents countries that attract companies to shrink their tax bills, added the United Arab Emirates to its top-10 ranking, which includes Switzerland and Bermuda.
  • You don't need to be a tax expert to see why a global tax system programmed by a club of rich tax havens is haemorrhaging over $245 billion in lost corporate tax a year.
Updated 09 Mar, 2021 09:31pm
Mali, Emirates facilitated Venezuelan gold trade in 2020, opposition says
World

Mali, Emirates facilitated Venezuelan gold trade in 2020, opposition says

  • The gold was refined in Mali and then resold primarily in the United Arab Emirates (UAE) to allow for Maduro's administration to obtain the equivalent of at least $1 billion in euros in particular.
  • We are requesting that US and European authorities make their system for dismantling these types of organized crime groups more sophisticated.
Updated 04 Mar, 2021 09:53pm
US nears 500,000 Covid deaths
World

US nears 500,000 Covid deaths

  • Though concern has grown over variants of the virus, especially those that appear to spread more easily and render current shots less potent, Fauci sounded a hopeful note on whether another surge was coming.
Published 22 Feb, 2021 10:54am
Dana Gas seeks around $500mn to fund output expansion
Markets

Dana Gas seeks around $500mn to fund output expansion

  • Dana plans to raise its capacity in the Kurdistan Region of Iraq (KRI) to 900 million standard cubic feet per day (mmscfd) with two processing trains of 250 mmscfd each.
  • The total scope that we're looking at is probably another $500 million. But that would ... be split up between hopefully contractor financing, some bank debt and maybe this green bond.
Published 17 Feb, 2021 05:42pm
UAE's top bank to debut in euro market amid Gulf bonds deluge
Markets

UAE's top bank to debut in euro market amid Gulf bonds deluge

  • Borrowers in the oil-dependent region have been tapping global debt markets at cheap rates this year as abundant global liquidity pushes investors to hunt for higher-yielding assets.
  • Regional borrowers are also helped by an upbeat market view of economic recovery from the pandemic, bankers say.
Published 08 Feb, 2021 08:22pm
UAE significantly slashed funding for Palestinian refugee agency in 2020
World

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
Dubai house prices to drop at slower pace
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
Israeli sex tourists aggravate UAE's human trafficking ordeal
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