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  • UAE and Saudi Arabia: Low Inflation Amid Global Turmoil

    According to Euromonitor International, the inflation rates for the United Arab Emirates and Saudi Arabia in 2022 were 5% and 2.5%, respectively

  • The Netherlands lifts arms embargo against Turkey, UAE and Saudi Arabia

    The Netherlands has lifted arms restrictions imposed since 2019 against Turkey, following Ankara's move to back Sweden's Nato accession. In a letter addressed to the Dutch parliament last week, the government said it was abolishing its long-standing national “presumption of denial policy” in order to reform its arms exports restrictions framework. “The presumption of denial policy, which currently applies to Turkey, the United Arab Emirates and Saudi Arabia, will expire immediately,” the government in The Hague said.

  • Turkey’s Erdogan signs $50 billion in deals during UAE visit

    The United Arab Emirates and Turkey inked on Wednesday several deals estimated to be worth $50.7 billion during a visit by President Tayyip Erdogan to Abu Dhabi as he toured wealthy Gulf Arab nations for investment and funds. Erdogan and UAE President Mohamed Bin Zayed attended the signing ceremony of the agreements that included an extradition accord, energy and natural resources development, space and defence cooperation, state news agency WAM reported. Part of the package, Abu Dhabi sovereign wealth fund ADQ said it signed a memorandum of understanding (MoU) to finance up to $8.5 billion of Turkey earthquake relief bonds. A MoU with Export Credit Bank of Turkiye will see ADQ also finance up to $3 billion in credit facilities to support Turkish exports.

  • Is Russia really siding with the UAE against Iran?

    Still, it is essential not to exaggerate the significance of the Russia-GCC joint statement on resolving the Iran-UAE dispute. As both Moscow and Tehran are fully aware, Iran will not enter into negotiations with the UAE, much less allow the International Court of Justice, to arbitrate their dispute. The Russia-GCC joint statement does nothing to alter the fact that Iran remains in control of the three islands and is likely to remain so.

  • Deadly crash between Saudi, UAE cars on one of world’s longest roads leaves 5 dead

    It is one of the world’s straightest and longest roads, over 250 kilometers long, located in the Kingdom and surrounded by the Rub al-Khali desert.

  • Turkish president to visit Saudi Arabia, Qatar, UAE, Northern Cyprus

    Turkish President Recep Tayyip Erdogan will visit Saudi Arabia, Qatar, the United Arab Emirates (UAE), and the Turkish Republic of Northern Cyprus (TRNC) between July 17-20. According to a statement by Turkish Communications Directorate, meetings in Saudi Arabia, Qatar, and UAE will focus on bilateral relations, global and regional issues, and possible areas of cooperation especially in the fields of economy and investment.

  • UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

    While Saudi Arabia’s foreign direct investment (FDI) inflow fell 59% last year to nearly $7.9 billion, the United Arab Emirates recorded its highest FDI inflow ever of nearly $23 billion in 2022, according to a United Nations report released on Wednesday. Israel and the UAE led the Middle East and North Africa (MENA) for the highest FDI inflow — the purchasing of assets in another country — and placed 15th and 16th globally, respectively, according to the United Nations Conference on Trade and Development's (UNCTAD) 2023 World Investment Report.

  • The Evolution of ESG in the Middle East: A Focus on Saudi Arabia, Qatar, the UAE, and Türkiye

    With Egypt hosting COP27 last year, and the UAE set to host COP28 this year, the climate and sustainability ambitions of the Middle East are in sharp focus. At COP27 we saw substantial funding commitments, including the Middle East Green Initiative and the Arab Coordination Group, which committed billions in funding to an energy transition in line with Net Zero long-term commitments. At the same time, the Gulf states, which are historically hydrocarbon-reliant economies, noted that the transition has to be realistic in recognizing the need to supply affordable energy to other global economies, as well as considering the need for global energy security.

  • The Evolution of ESG in the Middle East: A Focus on Saudi Arabia, Qatar, the UAE, and Türkiye

    With Egypt hosting COP27 last year, and the UAE set to host COP28 this year, the climate and sustainability ambitions of the Middle East are in sharp focus. At COP27 we saw substantial funding commitments, including the Middle East Green Initiative and the Arab Coordination Group, which committed billions in funding to an energy transition in line with Net Zero long-term commitments. At the same time, the Gulf states, which are historically hydrocarbon-reliant economies, noted that the transition has to be realistic in recognizing the need to supply affordable energy to other global economies, as well as considering the need for global energy security.

  • Saudi Arabia, UAE Business Conditions Improve Even as Costs Rise

    Accelerating demand helped the Arab world’s largest economies secure new business orders and maintain employment levels. A purchasing managers’ index for Saudi Arabia rose to 59.6 from 58.5 in May, according to Riyad Bank. A similar S&P Global survey for neighboring UAE climbed to 56.9 from 55.5.