Stories from UAE

The UN Commission for Europe announced the creation of an online observatory to facilitate goods transport in the Gulf. This move follows increased land traffic caused by a blockade in the Strait of Hormuz.

The Dubai real estate market has seen a resurgence in activity following a two-month lull. Consultants in the United Arab Emirates report that clients began returning to the market after April 8, following announcements of a truce between Iran and the United States. The current wave of transactions is being driven by buyers who had paused activity since February. Middle-market buyers are noted as being the least active in this period, according to industry reports. While some luxury segments priced at 2 million and above have seen a slowdown in activity, the mid-range market between 500,000 and 1.5 million has become more active. Sellers previously offered discounts to buyers but are now only providing symbolic gifts.

Dubai-based airline Emirates announced it is restoring several direct routes within the Middle East region. Emirates announced that flights to Oman and Kuwait will be available for booking starting May 1. Emirates flight operations in the Middle East have recovered to 74.1% of pre-conflict levels. Emirates Airline, headquartered in Dubai, announced flight adjustments as regional tensions ease.

Financial analyst Omar Ayub stated that the energy crisis is driving markets toward increased caution. Gold prices remain high amid the ongoing closure of the Strait of Hormuz. The analyst noted that while gold demand is driven by rising prices, the pace of growth may be slower due to central bank interest rate decisions expected this week. There is currently no clear timeline for when the crisis might resolve. The energy crisis in the European Union is showing trends of further intensification. The International Monetary Fund reduced its global growth forecast for this year from 3.4 percent to 3.1 percent. Growth could fall to 2 percent if crude oil and natural gas flows are disrupted through next year. Inflation could rise to 6 percent under these conditions, according to the report. The situation is described as a potential time bomb for the global economy.

The United Arab Emirates has decided to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance. The United Arab Emirates has fully reopened its airspace and resumed both direct and transit flights. This move marks the complete restoration of flight operations within the country's airspace. This decision follows more than 55 years of membership for Abu Dhabi within the organization. The decision follows historical exits by Canada in 2019, Ecuador, and Angola. Historically, Canada, Ecuador, and Angola have also left the group. Senator Alessandro Alfieri, a member of the Foreign Affairs Committee, discussed the decision in an interview. Previously, applicants were required to purchase property worth at least $200,000 to qualify for the permit.

The Democratic Republic of the Congo has reached a major gold supply agreement with the United Arab Emirates. The deal is intended to expand the DRC's supply network through Dubai.

Emirates has completed the first installation of next-generation Starlink Wi-Fi service on its Airbus A380 fleet. The integration aims to provide high-speed connectivity for passengers during long-haul flights.

Multiple airlines have canceled flights following developments in Iran, leaving passengers stranded at hubs including Abu Dhabi and Dubai. The source noted that European passenger rights regulations may not apply in these instances.

An advisor to Emirati President Anwar Gargash criticized the perceived weakness of Gulf neighbors regarding Iranian attacks. The GCC includes Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Kuwait, and Oman. The advisor expressed disappointment in the council's collective position regarding the strikes. Mahmoud Benzayed, a senior advisor to the UAE leader, expressed anger toward other Gulf states for failing to provide support during Iranian attacks. Benzayed stated that the United Arab Emirates has been the most frequently attacked nation by Iran. The advisor's comments highlight tensions regarding regional security and collective defense responses. The source noted that the UAE has approached Trump regarding these security concerns. The comments were reported by NPO Radio 1.

Recent events throughout March and early April have demonstrated that Iran was planning for this type of conflict with Arab nations. US President Donald Trump has expressed doubt regarding a new proposal from Iran to end the war, according to high-ranking government officials. Experts suggest an Iraqi-Ethiopian network may be involved in sexual violence within the EU, with potential involvement from the Iranian Revolutionary Guard. The network reportedly targets potential perpetrators in Europe to incite attacks. Iran's proposal requires the United States to lift its maritime blockade and reopen the Hormuz Strait before negotiations can begin. US Secretary of State Marco Rubio stated that Iran may be using negotiations to buy more time. The Iranian position is to open the blockade first before negotiating the satellite program.