Onjo Simson

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 ...

  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 Ex...

  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 busine...

  The UAE continues to attract significant foreign investment according to recent figures. In 2023, an estimated $16 billion flowed into the country as greenfield foreign direct investment or FDI. This type of investment involves new productive assets or infrastructure projects. Several key sectors drove this strong FDI performance, supported by the nation's strong economic strategy.  Major sectors leading FDI inflows included business services, IT, financial services, manufacturing and logistics. The UAE's business-friendly environment and strategic location make it appealing for many multinational companies. Wholesale, real estate and finance accounted for the largest shares of total FDI stock in the country. Significant investments also came from key trading partners like the US, India, UK, KSA and France.  Under visionary leadership the UAE has developed dynamic economic zones and incentives to strengthen its position as a regional hub. Free zones continue facilitatin...

  The UAE has been working to build strong relations with member nations of the G20, an important international forum for global economic cooperation. Here are some highlights of their productive engagements: The UAE recently hosted a number of top leaders from G20 states. The Prime Minister of India visited in June to sign several economic agreements and invest over $16 billion in key sectors. Italian Ministers also visited to enhance partnerships in trade, investment and energy. Strengthening these strategic ties will benefit both nations. Officials from the UAE also made visits to key partners. In September, ministers travelled to Japan to discuss collaboration in emerging technologies, space cooperation and climate action. Agreements were reached to work more closely as both countries prepare to lead the G20 in future years.  Meetings were also held with several European states to boost cooperation. Deals were inked with Germany to increase investments in renewable energy....

The UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan is on a state visit to Russia, where he attended the 2024 BRICS Summit in Kazan under Russian chairmanship. On the sidelines of the important summit, Sheikh Mohamed engaged in bilateral discussions with several world leaders and heads of state on the last day of the summit.  Among those he met was Indian Prime Minister Narendra Modi to strengthen the robust comprehensive strategic partnership between the UAE and India. He also held productive talks with Chinese President Xi Jinping where they reviewed cooperation across various fields including economy, investment and energy.  In another meeting Sheikh Mohamed discussed with South African President Cyril Ramaphosa ways to enhance ties and coordinate views on issues of common interest. He also exchanged views with Brazilian President Jair Bolsonaro on consolidating joint coordination and the partnership in investment and development sectors. Furthermore, Sheikh M...

  The UAE is providing relief assistance to Lebanon, which is facing tough economic conditions. A campaign called UAE Stands with Lebanon was launched to collect donations. Residents of Abu Dhabi got involved by volunteering to pack boxes of essential items at distribution centres.  Over the course of one week thousands of residents dedicated their time to sort and bundle aid supplies Food baby products hygiene kits and other necessities were organised into boxes and parcels. The goal was to prepare 10000 packages for shipment to Lebanon It was a massive undertaking that brought the community together for a good cause.   With many hands helping the target was surpassed A final count showed the number of packages packed exceeding 10500 Donations of quality items kept coming in from generous supporters. Volunteers worked diligently, often bringing their families to participate Seeing the boxes piled high and ready for transport was very fulfilling. These aid boxes will...

  The UAE is helping end the suffering from the conflict They worked with Russia and Ukraine to release people held captive. Many families will be happy again.  The UAE government officers spoke with leaders in Russia and Ukraine. They asked both sides to agree on letting prisoners go free Lots of talking and planning was needed. In the end 190 people held in jails were freed.  This is the ninth time the UAE helped with releases this year They keep trying to make peace between the two countries Before over 2000 people had been reunited with loved ones. The UAE said they are glad Russia and Ukraine cooperated to help people in a difficult time. Releasing prisoners is an act of kindness For the families waiting it means fear and worry are over Those who were locked up can finally live as free people again The UAE wants everyone to feel safe and with their community Their mediation work deserves praise. The conflicts continue otherwise But through diplomacy small steps are t...

  The United Arab Emirates and Russia wants to increase economic cooperation during a presidential visit The leader of the UAE President Sheikh Mohamed will travel to Kazan Russia later this month. He will join other leaders of major emerging economies for the Brics summit.  Brics is a group of five countries that includes Brazil Russia India China and South Africa These countries are see as developing economies that are becoming more powerful global. The leaders meet every year to discuss business and trade issues. This year summit is from October 22 to 24 in Kazan city of Russia.  President Sheikh Mohamed aims to strengthen ties with Russian President Vladimir Putin during the visit The two nations have been partners in the areas of energy infrastructure development and trade Russia is one of the major trade partners and sources of oil and gas for UAE. UAE investments in Russia has grown in recent years across various sectors. The report mentions that both leaders previ...

A parliamentary delegation from the UAE recently attended important discussions on peace and security at the Inter Parliamentary Union IPU conference in Geneva. This event brought together leaders and representatives from various countries to talk about global stability and how nations can work together to resolve conflicts. The UAE's involvement highlights its commitment to promoting peace on an international level. During the conference delegates discussed various topics including how to prevent conflicts and the role of parliaments in maintaining peace. The UAE delegation emphasized the importance of dialogue and cooperation among nations. They believe that by working together countries can create a safer world for everyone. The UAE has been actively engaged in peace building efforts in the Middle East and beyond Their participation in the IPU discussions is part of a broader strategy to foster stability in regions facing turmoil. By sharing their experiences and strategies, the...

  The video game industry is expanding rapidly in the UAE New reports project gaming revenues in the country will reach $492 million by 2027, up from $236 million in 2022. This growth is being driven by rising interest among younger audiences and investment from government bodies.  Gamers in the UAE span all ages and demographics But teenagers and those in their early 20s make up a major portion of players Their engagement is stimulating appetite across other age groups as well Easier access to games through smartphones and esports tournaments are also fueling growth. Both federal and local authorities are supporting the gaming and esports sector through initiatives This includes hosting large scale gaming events developing regulatory frameworks that protect players and funding startups creating games The objective is to build a creative digital economy and entertainment hub.  Key international publishers and platform holders are paying increasing attention to the UAE. Th...

  The UAE and Iraq are looking to enhance cooperation between their parliamentary bodies Speaker of the UAE Federal National Council Saqr Ghobash met with his Iraqi counterpart Mohsen Al Mandlawi on the sidelines of an Inter Parliamentary Union meeting in Geneva. They discussed ways to boost ties and coordination between the two councils.  Both countries want to strengthen the historic bonds between their peoples Iraq and the UAE have longstanding friendly relations due to their close proximity and cultural links Now they aim to deepen cooperation across various sectors for mutual benefit Economic and investment partnerships are seen as particularly important avenues for sustainable growth. Parliamentary coordination is recognized as important for policy alignment The officials underlined the value of bilateral meetings visits and knowledge sharing between their councils This allows national issues and interests to be progressed jointly on regional and international stages....

  Abu Dhabi being named the richest city globally It says the city has a massive amount of wealth from government investment funds called sovereign wealth funds.  Sovereign wealth funds are large investment funds controlled by governments They invest money from foreign exchange assets or reserves Abu Dhabi has around Rs 142 lakh crore in its sovereign wealth funds. This is far more than any other city in the world. Not even large financial hubs like New York Singapore or Hong Kong have such huge amounts.  Most of Abu Dhabi's wealth comes from its oil and gas reserves The city is a major oil producer. It earns lots of money by exporting oil and gas A large part of these earnings go into the sovereign wealth funds These funds then invest the money in different businesses worldwide to grow the capital over time. Abu Dhabi uses this wealth for development activities It has built world class infrastructure industries and attractions Many top companies have offices in Abu Dhabi...

The UAE has always been at the forefront of providing humanitarian aid to countries in need. Under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan it has launched the UAE Stands With Lebanon campaign to support the brotherly Lebanese people amidst current challenges.  During a recent media briefing at Dubai Humanitarian Her Excellency Reem Al Hashimy reaffirmed the UAE commitment to Lebanon. She was joined by representatives from several international organizations like UNHRD WFP, WHO, UNHCR, Unicef and IFRC. They highlighted the UAE unwavering support and pledged to work closely to deliver essential relief. As part of the campaign relief aid collection began at Expo City Dubai Exhibition Centre from 9am to 1pm. Residents generously donated food medical supplies and other necessities as the UAE aims to assist those affected by the crisis in Lebanon. The directives from the President and follow up from Crown Prince of Abu Dhabi underscores the strength of UAE and Leba...

  The UAE and US have recognized that technology and innovation will be increasingly important pillars of their relationship going forward. During recent visits leaders from both sides focused on cooperation in areas like AI data centers cybersecurity and more. This shows their shared goal of moving beyond traditional energy ties to embrace new sectors driving 21st century economies. The UAE has been proactively diversifying its economy and positioning itself as a global tech hub Successful companies like G42 in Abu Dhabi show the growth of the local AI industry Both sovereign wealth funds and state linked entities are also investing heavily in digital startups worldwide. Major initiatives like the GAIIP partnership aim to develop next generation infrastructure around data and computing.  Advancing into new industries like semiconductors and space exploration has further solidified the UAE reputation as an emerging tech power The Hope Mars Mission was a major scientific achiev...

  SK Group chairman Chey Tae won is set to visit key Middle Eastern countries to strengthen partnerships. His scheduled trips to Saudi Arabia and the UAE come at an important time as SK merges its energy firms. The newly formed entity managing over $74 billion assets will rely on stable oil supplies and prices. The Middle East holds influence as the world's top crude exporter. Chairman Chey aiming to meet Crown Prince Mohammed and UAE President signals the region's prominence for SK's downstream business.  Lower refining margins recently dampened SK third quarter profits Dependable ties with Gulf petro states can alleviate uncertainties facing energy companies. Chey likely hopes to discuss ways stabilizing profits through market insights and coordinated investments Beyond oil SK also sees opportunity collaborating on new technologies both regions are developing like AI and semiconductors. The Middle East actively courts skills in these areas from Korean champions. Chey'...

  The UAE and Serbia recently signed an important trade agreement called the Comprehensive Economic Partnership Agreement or CEPA. This was aimed at boosting commercial cooperation between the two nations.  Recent figures indicate bilateral trade has grown substantially. Total trade volumes reached around $195 million in 2023 according to Serbian officials. Both exports and imports have increased year-on-year. The new CEPA intends to provide further stimulation by reducing barriers and supporting more investments across sectors. Priority industries identified include electronics, food processing, infrastructure, logistics and information technology.  Knowledge sharing and capacity building initiatives will also be part of the accord. Representatives of major UAE companies took part in a forum in Belgrade to explore business opportunities.  Serbia's economy minister stated the CEPA will help accelerate growth. Some of the key targets are strengthening supply chains an...

The President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan has directed an urgent relief package worth $30 million to help displaced Lebanese citizens in Syria.  Lebanon is currently facing severe economic problems that have caused many hardships for citizens Many Lebanese have fled to Syria to escape difficult conditions at home.  The UAE aid package will provide crucial humanitarian assistance like food shelter and medical support to vulnerable Lebanese refugees This shows the UAE commitment to helping others in their time of need. Providing relief during times of crisis is important to reduce suffering The funds will help displaced people meet their basic daily needs and survive emerging challenges. The UAE has a history of assisting countries grappling with economic or political troubles This latest aid underscores the nation enduring support for the Lebanese people during these hard times. Such compassionate acts which transcend borders showcase the UA...

  The leaders of Serbia and United Arab Emirates recently met in Dubai to discuss ways to deepen ties between the two nations. During the high-level visit, they inked an important agreement focused on boosting commercial collaboration.  The new deal aims to facilitate trade and investment flows by simplifying rules and cutting red tape This will encourage more exchanges between businesses located in Serbia and UAE Several economic sectors with strong potential have been prioritized. Infrastructure energy tourism and agriculture are identified as key industries for joint projects Both sides wish to promote partnerships and linkages between their private sectors in these domains The UAE is already a major investor in Serbia and this deal should draw in more capital. Supporting small and medium enterprises is another objective The agreement provides incentives and assistance so that these companies can explore opportunities created by the expanding bilateral economic relationship...

The UAE Ambassador to Pakistan inaugurated an art exhibition in Karachi as part of the city's ongoing World Culture Festival. This event highlights the age old relationship between the two nations. By showcasing Pakistani art visitors gained insight into the country's rich cultural heritage. Works featured traditional masters as well as contemporary pieces displaying the evolution of artistry over generations.  Attending the opening, the Ambassador expressed his joy in experiencing Pakistan creative talents. Art serves as a universal language that brings people together. With over 40 countries participating the festival magnifies cultural appreciation on a global scale. Both nations have enjoyed fruitful cooperation like Pakistanis exhibiting at art fairs in Dubai.  The Sindh Culture Minister also attended the inauguration. He welcomed strengthening tourism and visa ties with the UAE. Dubai intriguing attractions could inspire more Pakistani travel. Both governments work joint...

  The United Arab Emirates has developed an ambitious networkbased approach to boost trade and investment Instead of one large project the UAE aims to form many partnerships across different countries and economies.  The UAE sees itself as a central hub that connects various trading partners It uses its ports airports and business zones to facilitate trade flows between nations Major trade deals have been struck with large economies like India and Indonesia granting access to large markets Agreements are also in place with other regions like Israel. Within the UAE each emirate plays an important role in the economic system Abu Dhabi focuses on major investments and new technologies Dubai attracts businesses and tourists from around the world Other emirates contribute through industry logistics and agriculture Together the seven emirates compete but also integrate their economies in a cooperative manner. As a major trading nation the UAE provides an alternative to China Belt an...

  The UAE government recently punished over 2000 companies and individuals for breaking new rules about phone calls used for advertising. They were using normal phone numbers instead of special ones set aside for marketing by companies.  There are now strict laws since August to stop unwanted sales calls bothering people at home. Companies must follow certain times and methods approved to tell about products. But many still ignored this, which can annoy residents getting calls from regular numbers they do not know. Anyone from a person to a big company can be in trouble for misusing a phone number not meant for ads. Fines go up to 150000 dirhams depending on how bad the rule breaking was. Licenses may also be taken away or telecom services suspended for up to one year. There is a Do Not Call list where people can sign up to avoid marketing calls. All sellers must respect this and not bother those on the list. It helps protect privacy and ensures rules are clear for permitted t...

OPEC which stands for Organization of the Petroleum Exporting Countries is an intergovernmental organization formed in 1960. It consists of 13 oil producing nations that aims to manage the supply of oil in international markets to garner stable oil prices. The Emirati energy minister recently praised OPEC for the work it is doing in stabilizing global oil markets. He said that OPEC has an important role and responsibility in trying to achieve a balance between supply and demand in oil markets. When there is too much supply compared to demand, prices fall which affects both oil producing and consuming nations. On the other hand, when demand outpaces supply prices increase sharply which hurts economies.  OPEC tries to avoid both extremes through cutting or increasing overall production levels of member countries This helps maintain reasonable and steady oil prices that benefit consumers as well as support economies and investment in the oil industry Without such coordination volatili...

ADNOC Drilling has signed deals to create a joint venture called Turnwell Industries, boosting exploration of unconventional oil and gas in UAE. Through its subsidiary ADH RSC, ADNOC Drilling will hold a majority 55% stake in the new partnership. The remaining 45% will be owned by foreign partners who bring expertise in tapping difficult resources. Turnwell will focus on extracting reserves trapped in tight rock formations using advanced technologies like hydraulic fracturing.  UAE has sizable unconventional assets but their development requires specialized drilling methods. This JV will help harness those resources more efficiently for clean, affordable energy supply. It aims to enhance domestic production capacity and energy security by commercializing hard-to-reach reserves. ADNOC Drilling's strong reputation and operational experience combined with partners' know-how will accelerate unconventional projects.  The alliance echoes UAE leadership's drive for sustainable gro...