In August 1990, though he didn’t know it, Iraq’s President Saddam Hussain created the conditions by invading Kuwait for the launch in Madrid 14 months later of what remains the most credible attempt to end the Arab-Israel conflict. His actions…
Tag: UAE
The UK seeks to maintain trade relations in the Gulf despite the GCC split and Trump’s Iran rhetoric
The RAF’s Red Arrows over Doha in 2013. They return this weekend as part of the UK’s campaign to maintain its trade relationship with both sides of the GCC split The Royal Air Force (RAF) Red Arrows will fly over…
IMF says UAE non-oil growth to quicken on fiscal measures, trade and increasing Expo 2020 investment
The UAE’s large financial buffers, diversified economy and robust policy responses are facilitating adjustment to the new oil-market realities while safeguarding the economy and the financial system, the IMF said today following the completion of its annual Article IV consultations…
Trump’s bans may be better than Obama’s bombs
President Trump signs an executive order calling for extreme vetting of migrants from 7 mainly Muslim countries on 27 January Hastily drafted and badly executed, President Trump’s discriminatory and unfair visa bans announced on Friday may nevertheless to do more…
Ras al-Khaimah affirmed at A
Fitch Ratings has affirmed Ras al-Khaimah’s long-term foreign and local currency issuer default ratings (IDRs) at A with a stable outlook. The issue ratings on RAK Capital’s senior unsecured foreign- currency bonds are also affirmed at A. The UAE country Ceiling…
South Korea gets operations contract for UAE nuclear power plant
Emirates Nuclear Energy Corporation (Enec) and Korea Electric Power Corporation (Kepco) yesterday signed a joint-venture agreement for the operation of the UAE’s Barakah nuclear power plant which is due to start producing electricity next year. It will be the first nuclear…
Uber suspends Abu Dhabi services
Uber said on Sunday that it had suspended services in Abu Dhabi due to “unforeseen circumstances.” Observers suggest that the company is facing potential difficulties with local regulators. Uber has operated in the UAE since 2013. Dubai-based Careem said in a statement…
UAE tells IMF it aims for budget balance in 2018
The government of the UAE aims to deliver a balanced budget in 2018 through a combination of measures that will involve federal government working in co-ordination with the governments of the UAE’s seven emirates, according to a statement attached to…
IMF says corporation tax possible in UAE
The statement issued by the IMF following the conclusion of its Article IV consultation with the UAE on 20 July says corporation tax is a possibility and called for further action to eliminate energy subsidies. “Directors encouraged the authorities to…
Dubai Investments seeks $300m loan
For full coverage of Middle East business, see MEED Dubai Investments chief executive Khalid bin Kalban said yesterday that the conglomerate is in talks with banks for a $300m loan that would go towards financing its Mirdif Hills project in…