UAE

DUBAI, Aug 16 (NNN-WAM) – Dubai Ports (DP) World, a United Arab Emirates (UAE) port operator, expects to expand its container handling capacity by about three million twenty-foot equivalent units (TEUs), by the end of the year, it was reported yesterday.

DP World, which ranks among the top five global port operators, handles approximately nine percent of the world’s total containers. Upon expansion, its capacity will rise to 93.6 million TEUs, enabling it to meet growing demand in main trade markets, said the report.

DUBAI, United Arab Emirates (AP) — Western-backed maritime forces in the Middle East on Saturday warned shippers traveling through the strategic Strait of Hormuz to stay as far away from Iranian territorial waters as possible to avoid being seized, a stark advisory amid heightened tensions between Iran and the U.S.

A similar warning went out to shippers earlier this year ahead of Iran seizing two tankers traveling near the strait, the narrow mouth of the Persian Gulf through which 20% of the world’s oil passes.

12 August 2023; MEMO: The United Arab Emirates (UAE) has blocked the entry of nearly 170 passengers aboard a Wizz Air flight from Israel, Anadolu Agency reported on Friday.

DUBAI, Aug 9 (NNN-WAM) – President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, yesterday met with visiting U.S. National Security Adviser, Jake Sullivan, to discuss bilateral, regional, and international issues.

During the meeting, held in the UAE capital of Abu Dhabi, the two sides “discussed the close, strategic ties between the UAE and the U.S., and expressed their shared interest in further strengthening these bonds,” said the report.

09 August 2023; MEMO: The five most prominent Gulf Cooperation Council (GCC) countries have invested over $100 billion in Africa over the years, with the United Arab Emirates (UAE) leading the way, according to a new publication.

DUBAI, United Arab Emirates (AP) — Iran on Monday began registering candidates for parliamentary elections in March, which will be the first since nationwide protests rocked the country last year.

Iran has held regular presidential and parliamentary elections since the 1979 Islamic Revolution. But a clerical body vets candidates — disqualifying any seen as disloyal to the Islamic Republic — and Supreme Leader Ayatollah Ali Khamenei has the final say on all major policies.

DUBAI, United Arab Emirates (AP) — Saudi state-run oil giant Aramco said Monday that it made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices.

Total sales stood at just over 400 billion riyals (about $106 billion), down from 562 billion riyals ($150 billion in the second quarter of 2022. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins.”

DUBAI, Aug 5 (Reuters) - Senior officials from some 40 countries including the United States, China and India began talks in Saudi Arabia on Saturday that Kyiv and its allies hope will lead to agreement on key principles for a peaceful end to Russia's war in Ukraine.

The two-day meeting is part of a diplomatic push by Ukraine to build support beyond its core Western backers by reaching out to Global South countries that have been reluctant to take sides in a conflict that has hit the global economy.

DUBAI, Aug 5 (Reuters) - Iran has equipped its Revolutionary Guards' navy with drones and 1,000-km (600-mile) range missiles, Iranian news agencies reported on Saturday, as the U.S. offers to put guards on commercial ships going through the Gulf's Strait of Hormuz.

Referring to the possible presence of U.S. guards, Iranian armed forces spokesperson Brigadier General Abolfazl Shekarchi said the region's countries were "capable of ensuring Persian Gulf security" themselves.

01 August 2023; MEMO: The Arab Monetary Fund (AMF) has agreed to extend a new loan of $615.8 million to Egypt, making it the latest such loan to the North African country.

Signed last week Tuesday by the Central Bank of Egypt's Governor, Hassan Abdalla, and the AMF Director-General Chairman, Abdulrahman Al-Hamidy, the agreement for the new loan reportedly aims to support Egypt's reforms in its banking sector.