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Crown Prince of Abu Dhabi Attends World Without Hunger Conference in Addis Ababa.

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In order to combat the Hunger globally in a sustainable and Innovative way, the UAE and Ethiopia Joined Hands. On November 4, 2024 - His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has arrived in Addis Ababa, Ethiopia, to represent the UAE at the World Without Hunger Conference.  Upon his arrival at Addis Ababa Bole International Airport, Sheikh Khaled was warmly welcomed by Ethiopian Prime Minister Dr. Abiy Ahmed. The reception ceremony featured the national anthems of both nations, followed by a guard of honor. This warm welcome highlights the strong diplomatic ties between the UAE and Ethiopia, reflecting a shared commitment to collaboration and mutual support. The focus on the World Without Hunger Conference is a pivotal platform that brings together global leaders, policymakers, and experts to discuss and develop innovative solutions for achieving food security. This conference aims to support international efforts to advance sustainable prac
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UAE Invests in Autonomous AI Technology

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  The United Arab Emirates is investing in autonomous and artificial intelligence systems to boost energy efficiency. These new technologies will help optimize operations and reduce costs across various sectors in the country.  One area that will greatly benefit is the energy industry. AI and robotics will be deployed to monitor energy consumption, detect any faults or inefficiencies, and make automatic adjustments. This allows precious resources like oil and natural gas to be utilized more sustainably. Power generation and distribution can become cleaner and more reliable through the use of self-learning machines. Other infrastructure like desalination plants, buildings and transportation will also adopt autonomous systems. AI assistants can control machinery, lighting and air conditioning based on real-time data. This ensures energy is not wasted when facilities are empty or environmental conditions do not require high usage. Autonomous vehicles fueled by electricity or hydrogen will
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UAE Announces Slight Fuel Price Adjustments for November 2024

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  The UAE government has set the fuel prices for November 2024 after reviewing global oil market trends. The Fuel Price Follow-up Committee determined the cost of gasoline and diesel would require minor adjustments this month.  Super grade gasoline will be priced at AED 2.74 per liter. Special grade gasoline comes in at AED 2.63 per liter, while E-Plus grade is AED 2.55 per liter. Gas oil or diesel fuel was set at AED 2.67 per liter. These reflect only small changes compared to previous months.  The committee monitors international benchmark oil rates regularly to determine domestic retail fuel costs. By cautiously revising local pump prices monthly, they aim to balance the needs of consumers and energy companies. Fuel is a major expense in the UAE, so stability in pricing helps households and businesses in planning. No sharp rises were deemed necessary given stable crude oil costs lately. Global supply and demand for energy has remained fairly balanced. The UAE also strives to shelter
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China and UAE celebrate 40 Years of Strong Partnership

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The leaders of China and UAE exchanged warm congratulatory messages as both nations mark four decades of diplomatic relations. Chinese President Xi Jinping and UAE President Mohamed bin Zayed highlighted the trusting friendship and mutually beneficial cooperation that has been built between the countries.  Xi Jinping thanked the UAE for its commitment to developing closer ties. He said political understanding is strong between the sides, and their development strategies are now aligned. Practical cooperation across many areas has yielded good results. Cultural exchanges are also growing. Both leaders want to take the comprehensive strategic partnership to an even higher level. Mohamed bin Zayed expressed appreciation for China's development achievements. He said the UAE wants to consolidate and strengthen ties further. Chinese Premier Li Qiang and UAE Prime Minister Mohamed bin Rashid also congratulated each other. They pledged to implement agreements between their presidents and e
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China and UAE Continue Cooperation on Counterterrorism

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The foreign ministries of China and the United Arab Emirates held their second meeting of the bilateral consultation mechanism on counterterrorism and deradicalization cooperation on October 29th. Vice Foreign Minister Chen Xiaodong led the Chinese delegation to Abu Dhabi to meet with officials from the UAE.  Both sides recognized the good development of the comprehensive strategic partnership between China and the UAE. They exchanged views on the current international and regional situation regarding terrorism and security. China and the UAE face common challenges from terrorist and extremist threats. Strengthening cooperation is important for both countries. Officials from relevant government departments of China and the UAE attended the meeting. They discussed ways to make better use of the consultation mechanism between the two countries on counterterrorism and countering violent extremism. The mechanism supports security cooperation agreed upon by the leaders of China and the UAE.
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UAE’s National Corporation for Tourism and Hotels Performs Well in Changing Economic Environment

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  Despite facing global headwinds, the UAE’s National Corporation for Tourism and Hotels (NCTH) has managed to increase its revenue and maintain steady profits through the first three quarters of 2024. The company reported revenues of AED 495 million for the nine month period, up from AED 485 million the previous year. Net profits remained stable at around AED 41 million.  In the third quarter alone, revenues grew further to AED 160 million compared to AED 152 million in Q3 2023. While profits dipped slightly from the same period last year, remaining above AED 10 million. This shows NCTH’s resilience amid rising costs and weakness in certain markets. The hospitality sector has recovered strongly since the depths of the pandemic. NCTH has a diverse portfolio of hotel assets spread across various emirates and segments. This diversification mitigates risks from any single market slowing down. Reforms to visas and residency rules also boost visitor numbers. Major events such as Expo 2040 o
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UAE Attracts More Foreign Investment in 2023

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  The United Arab Emirates saw major growth in foreign direct investment last year. According to a new UN report, the number of new investment projects in the UAE rose by 33% compared to 2022.  This type of investment is called "greenfield" investment. It means when a company builds a new operation or factory in another country. The UAE had the second highest number of new greenfield projects globally in 2023. Over 1,300 new facilities were announced. As a result of this growth, foreign capital invested in the UAE economy grew substantially. Total investment flowing into the country reached $30.7 billion, up 35% from the previous year. Several important business sectors drove this increase, like technology and services.   The UAE climbed two spots to be a top five destination for new investment sites. It attracted about 60% of all foreign investment to Gulf countries, which more than doubled to $37 billion total.  Key sectors attracting investors included business services, s
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