Stories from Dubai · UAE

Dubai Customs is implementing measures to improve trade flow and strengthen the readiness of the economic system.

An Iranian strike has forced Emirates Global Aluminium, a UAE aluminum giant, to shut down operations. This shutdown removes 4% of global supply and has triggered a 15% price spike in aluminum.

A branded residence in Dubai has been sold for $45 million, with a waitlist for similar properties. The luxury market in Dubai continues to see high-value transactions.

Dubai's Crown Prince Hamdan bin Mohammed has approved a second, larger economic incentives package valued at AED 1.5 billion. This package aims to stimulate the economy.

The Office of Foreign Assets Control (OFAC) has settled with Adani Enterprises for $275 million. The action cites 32 apparent violations of Iran sanctions. These violations were tied to Liquefied Petroleum Gas (LPG) shipments facilitated by a Dubai trader.

A $40 billion insurance facility for ships in the Strait of Hormuz, established under the Trump administration, has generated no business in its first two months.

A ship anchored off the United Arab Emirates was seized and taken. Another vessel was sunk near the Strait of Hormuz. Iran's military has reportedly seized a ship in the Persian Gulf. This action is noted in the context of ongoing geopolitical tensions and US military presence in the region.

The United Arab Emirates announced plans to double its oil export capacity by next year. This expansion will involve duplicating a pipeline that runs to the Strait of Hormuz.

A ship owned by unknown parties was taken off the coast of the United Arab Emirates near the Strait of Hormuz and is heading towards Iranian waters. Chinese-owned vessels have also passed through the strait.

A ship anchored off the east coast of the United Arab Emirates has been seized and is reportedly heading towards Iran. The incident occurred near Dubai.