This tag is associated with 42 posts

As Oil Declines, The UAE Is The Safest Bet In The Middle East

While the stalemate against the Islamic State, or ISIS, sits just a few hundred miles away and oil receipts dropping by the day, the glittering skyscrapers and perennially superlative-laced cities of the United Arab Emirates are filled with citizens and expatriates sitting by brand-new pools, sipping cocktails, and checking their swelling bank accounts. Even these … Continue reading

UAE Hikes Gas Prices By 24% As It Halts Subsidies Amid Oil Bear Market

The United Arab Emirates (UAE), the second-largest Arab economy and OPEC’s third largest oil producer, will hike unleaded gasoline prices by 24 percent in August as it becomes the first country in the oil-rich Persian Gulf to remove subsidies, the UAE’s official WAM news agency reported on Tuesday. Drivers in the UAE will now pay 2.14 dirhams per liter … Continue reading

Persia’s Approaching Gold Rush

By Pepe Escobar You may have heard of the N-11. Yes, it’s another clever Goldman Sachs concoction, to the benefit of that prized specimen – the “global investor”. These are the next BRICS, the new emerging powers. The N-11 is made up of: Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam.  Some … Continue reading

Flying Blind: Gulf Subsidies Debate Ignores Regional Realities

By Francis Wilson The ongoing debate over the fairness and transparency of state-owned enterprises (SOEs) in the Middle East intensified in March when three of America’s largest airlines entered the fray. In a 55 page white paper released to the public in April, American, Delta, and United attacked what they believed to be the unfair business … Continue reading

MENA Oil Exporters Need Swift Adjustment To Lower Prices, IMF Says

The Middle East and North Africa (MENA) region is experiencing a modest economic recovery, despite the sharp drop in oil prices and deepening conflicts, the IMF says in its latest regional assessment. The Regional Economic Outlook Update, released on May 5, projects that growth will increase slightly to about 3 percent in 2015 (see table). … Continue reading

Dubai Says Will Bolster Police Force With Introduction Of Robocops By 2017

The ultra-wealthy nation of the United Arab Emirates (UAE) is planning to bolster its police force by rolling out a line of “robocops” by 2017, according to a report from UAE newspaper The Khaleej Times. The move by the UAE to introduce these robocops is aimed at helping the police force to deal with its increasing population and … Continue reading

Saudi Arabia, Gulf Allies Launch Military Operation In Yemen As Civil War Ignites Regional Firestorm

Saudi Arabian forces, joined by nine other Gulf Arab allies, have launched a military operation in Yemen against Shiite Houthi rebels, the Saudi ambassador to the U.S. said. According to Ambassador Adel al-Jubeir, the military operation in Yemen started at 7 p.m. EST (11 p.m. GMT) on Wednesday night. Adel al-Jubeir said that Saudi Arabia … Continue reading

Russia, Cuba Preparing For “Serious, Large-Scale” Projects In Energy, Aviation

Russia and Cuba are preparing for “serious and large-scale” joint projects in energy and civil aviation sectors, Russian Foreign Minister Sergei Lavrov said on Tuesday following a meeting with Cuba’s President of the State Council Raul Castro, Russian media reports. The two nations are also considering the launch of a “very serious” program to modernize Cuba’s power plants, Lavrov said. “In line with instructions given … Continue reading

Egypt Unveils Plans To Build Massive New $45 Billion Capital City

Egypt has unveiled an official plan to construct a massive new capital city in a deal which could cost $45 billion. The new capital city, which will be located next to Cairo, will be constructed with funding from Gulf states and will house five million people. The announcement came as Egypt hosted a major high profile international investment summit, Egypt The Future: Egypt … Continue reading

In Boost For al-Sisi, Gulf Nations Pledge $12 Billion In Aid To Egypt

Three Gulf Arab allies have pledged a further $12 billion of investments and central bank deposits to Egypt on Friday during the first day of its international summit, Egypt The Future: Egypt Economic Development Conference (EEDC), in a big boost to President Abdel-Fattah al-Sisi as he works to reform the economy following years of political upheaval. The new pledge of investment adds to the total … Continue reading

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