Stories from UAE

The United Arab Emirates has left the Organization of Arab Petroleum Exporting Countries, which is headquartered in Kuwait. This move follows the nation's previous departure from OPEC and the OPEC+ alliance.

The Islamic Revolutionary Guard Corps (IRGC) Navy issued a warning to ships anchored near Ras Al Khaimah, UAE. Vessels were ordered to move from their current positions in the area.

The United Arab Emirates has allocated 2 billion dirhams through the Mohammed bin Rashid Innovation Fund to support artificial intelligence companies and related industrial projects. The initiative is part of a broader effort to attract AI-related ventures to the country. This investment aims to boost AI development and adoption within the country. The funding will support research, infrastructure, and talent development in the AI sector. The United Arab Emirates is working to increase the industrial sector's contribution to its GDP to 300 billion dirhams by 2031. This follows the launch of the National Strategy for Industry and Advanced Technology, also known as 'Project 300bn', on March 22, 2021. At the time of the strategy's launch, the sector's contribution stood at 133 billion dirhams, representing 8.5% of the GDP.

Sudan's gold exports to the United Arab Emirates have increased during the ongoing conflict.

Gold exports from Sudan to the United Arab Emirates increased from 17 tons in early 2023 to 24-29 tons during the ongoing conflict. The increase in gold volume has reportedly boosted profits in Abu Dhabi.

The company Ednook announced it will invest 55 billion dollars to accelerate operations in the United Arab Emirates. This investment follows the company's recent departure from OPEC. The announcement comes as OPEC Plus agreed to a modest oil output hike for June, marking the third increase since the current conflict began. However, oil shipments from the Gulf remain restricted due to a blockade of the Strait of Hormuz.

The UAE-based company Ednook announced it will reduce spending by $55 billion. This move is intended to accelerate certain operations, according to reports. The announcement comes amid market uncertainty regarding OPEC+ production and UAE withdrawal regulations.

The United Arab Emirates has fully reopened its airspace. The announcement follows a period of restrictions. This move marks a return to normal aviation operations for the region. This action signifies a complete normalization of air traffic operations. Aeroflot has already commenced ticket sales for flights to Dubai starting in June.

Abu Dhabi has unveiled a new art installation featuring metallic, curved, and stone-like elements. The structure includes a labyrinth of galleries connected by walkways and glass bridges. The project follows a $1 billion investment in the region. The installation is described as a complex maze of interconnected paths.

Shipping giant Maersk has implemented emergency surcharges on shipments destined for the Gulf region. The new charges are effective immediately and apply to all cargo moving to the Gulf. Shipping company Maersk has imposed emergency surcharges on shipments to the Persian Gulf.