Category: World

Dubai: Businesses in the UAE are looking to source from alternate markets where possible to counter the rising costs associated with shipments from Europe and the longer time needed to come via the Cape of Good Hope.

After the latest incidents in the Red Sea from last week, with the US and the UK launching strike action against Houthi targets, shipping costs from Europe to UAE ports have increased by more than $1,000 a TEU (20-foot container). It has also meant cost increases in other sectors too, with shipments to Jeddah from Dubai, for instance, seeing a sharp increase in recent days.

The UAE Ministry of Investment has signed three Memorandums of Understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors.

President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received Antony Blinken, US Secretary of State, who is visiting the country.

During the meeting at Qasr Al Shati in Abu Dhabi, His Highness discussed cooperation and joint efforts between the two countries and ways to enhance ties in various fields to achieve mutual interests.

 United Arab Emirates delegation, led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs for Security and Military Affairs, participated in the United Nations’ Peacekeeping Ministerial Meeting, which was held in the Republic of Ghana’s capital, Accra.

Starting January 1 in 2024, the iconic Address Dubai Mall and Address Boulevard will be completely renamed and placed under the Kempinski brand umbrella, Abu Dhabi National Hotels (ADNH) said in a press release on Friday.

President Shavkat Mirziyoyev of the Republic of Uzbekistan witnessed the grid connection of renewable energy projects totaling 1.4 gigawatts (GW), developed by Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading clean energy companies.

Dubai: The Canadian company Fairfax Financial Holdings has raised its shareholding in Gulf Insurance Group to 90.01 per cent, after buying the 43.62 per cent stake held by Kuwait’s KIPCO.

On Thursday, the UAE dispatched a plane to the Republic of South Sudan carrying 100 tonnes of food supplies to provide essential humanitarian needs to the Sudanese refugees in South Sudan.

The UAE Embassy in Poland, today received a ship carrying 27 fully equipped ambulances to support the health sector in Ukraine.

Adel bin AbdulRahman Alasoomi, President of the Arab Parliament (AP), affirmed that “The UAE Consensus” approved by representatives of 197 countries in addition to the European Union at COP28 is a historic step to advance global climate action.