United Arab Emirates Minister of Economy Sultan Al Mansouri says officials plan to diversify the economy to minimize the damage from low oil prices. Energy commodities are playing less of an important role in the UAE economy.
The U.S. is finalising a record $10 billion deal to sell advanced weaponry to Israel, Saudi Arabia and the United Arab Emirates, announced Defense Secretary Chuck Hagel on Sunday, aiming to send a “very clear signal” to Iran that a possible nuclear programme would not be tolerated.
As domestic issues continue to weigh heavily on the minds of American and Israeli leaders, the foundations for their alliance have gradually withered ahead of Barack Obama’s first visit to Israel as president this week. There has therefore been a very real, if somewhat subtle shift, in the U.S.-Israeli relationship. Neither party is what it once was; and in the end, each has its own fate, linked by history to each other but no longer united.
The World Bank has produced a massive 450 page report on the potentially devastating impact climate change is likely to have on Arab countries. This matters to everyone and not just from the standpoint that we should all empathize with and seek to relief suffering.
Saudi Arabia is set to lead the Middle East and North Africa (MENA) in investments on energy projects over the next five years, said a report by the Arab Petroleum Investments Corp (Apicorp) on Saturday.
According to Apicorp, as cited by Bloomberg News, oil producers in the MENA region would spend up to $740 billion to enhance their energy production capabilities, with Saudi Arabia alone spending up to $165 billion.
Saudi Arabia has gone on the offensive against Iran to protect its interests. Their involvement in Syria is the first battle in what is going to be a long bloody conflict that will know no frontiers or limits.
Across the Middle East and North Africa, the political uncertainty surrounding the Arab Spring has led to some economic systems being destabilised. Yet amid this backdrop, Arab nations now have the opportunity to reinvent their economies, with growth, employment, and higher living standards seen to be critical for their future.
Nearly three-quarters of the United Arab Emirates’ total oil exports will now leave the country via the newly opened Fujairah export terminal on the Gulf of Oman, said UAE government officials on Sunday, with the new route set to bypass the volatile Strait of Hormuz, which Iran has threatened to block.
Muslims may throw away more than 40 percent of all food prepared daily during the upcoming Ramadan, warned a top Bahraini environmentalist on Monday, with global demand for essential food commodities also expected to rise during the period.
Egypt’s state-run gas company has terminated a controversial 2005 gas deal with Israel, citing dispute over payment. Israel, which imports over 40 percent of its natural gas supplies from Egypt, warned that the abrupt termination jeopardizes a peace agreement between the two nations.
