Tillerson testifies at corruption trial of Trump adviser

NEW YORK — Rex Tillerson, who served a turbulent term as secretary of state under former President Donald Trump, was called as a government witness Monday at the trial of a Trump ally accused of leaking intelligence to the United Arab Emirates. Tillerson testified that he barely knew the defendant, Tom Barrack, once the chairman … Read more

State news: 4 elite paramilitary Guards killed in Iran clash

DUBAI, United Arab Emirates — An attack by armed separatists on a police station in a southeastern city killed 19 people, including four members of Iran’s elite Islamic Revolutionary Guard, Iran’s state-run IRNA news agency reported Saturday. The assailants in Friday’s attack hit among worshipers near a mosque in the city of Zahedan and attacked … Read more

Economy flights from Moscow to Dubai hitting $5,000 as Russians flee

The airline industry has been hamstrung by a perfect storm of challenges over recent weeks, from labor shortages and supply disruptions to rising fuel prices. Sopa Images | Lightrocket | Getty Images DUBAI, United Arab Emirates — One-way economy flights from Moscow to Dubai are going for as much as $5,000 and many have completely … Read more

UAE climate change minister on energy and climate policy

The United Arab Emirates will continue to supply the world with energy for as long as it needs it, its Minister for Climate Change and Environment Mariam Almheiri said in an exclusive interview with CNBC. “As long as the world needs oil and gas, we’re going to give it to them,” Almheiri told CNBC’s Hadley … Read more

Germany’s Scholz inks gas deal with United Arab Emirates – POLITICO

Olaf Scholz culminated a two-day trip to the Persian Gulf region by signing a gas deal with the United Arab Emirates (UAE) on Sunday, but the German chancellor’s mission was overshadowed by human rights concerns. Amid Russia’s halt in gas deliveries to Germany and skyrocketing energy prices in Europe, Scholz traveled to the region to … Read more

Poverty and inflation: Egypt’s economy hit by global turmoil

DUBAI, United Arab Emirates (AP) — Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There’s a waiting list to buy a new car. Egypt, a country of more than 103 million people, is running low on foreign currency needed to buy essentials like … Read more

Truss-Biden meeting postponed to Wednesday – POLITICO

UK Prime Minister Liz Truss will hold a bilateral meeting with US President Joe Biden on Wednesday at the UN General Assembly, her office said Saturday. The pair had previously been scheduled to meet in Downing Street on Sunday. No reason was given for the postponement of what will be the leaders’ first meeting since … Read more

UAE tops India in Kenya’s imports race on costly oil

Market News UAE tops India in Kenya’s imports race on costly oil Monday September 12 2022 President Uhuru Kenyatta with Sheikh Nahyan bin Mubarak Al Nahyan, a Dubai minister. PHOTO | PSCU The United Arab Emirates has leapfrogged India to become Kenya’s second largest source market after China on the back of soaring oil prices, … Read more

Turkey’s skyrocketing inflation threatens more losses for Gulf banks

General view of Emirates NBD Bank on January 3, 2017 in Dubai, United Arab Emirates. Tom Dulat | Getty Images DUBAI, United Arab Emirates — Banks with exposure to Turkey have faced losses ever since the country’s currency began steeply depreciating in 2018; now, lenders in several oil-rich Gulf states in particular are set to … Read more

What happened after the UAE changed its work week

The United Arab Emirates shifted its working week at the start of 2022 to better align with the rest of the world. The government’s aim was to improve the work-life balance for citizens and cement Dubai’s position as the business hub of the Middle East. But do its residents think the change has worked? With … Read more