Two of the world’s leading oil bodies have warned that the global glut of crude will last well into next year. The International Energy Agency has attributed the surplus to weak demand coupled with ballooning inventories and rising supply. Meanwhile, the Organization of the Petroleum-exporting Countries (OPEC) predicted a larger excess in 2017 due to new fields in non-member countries and the unexpected resilience of American shale drillers.
UAE looks to deepen Panama ties as trade jumps nearly 50%
The UAE is looking to strengthen trade and investment ties with Panama after non-oil trade between the two countries rose by almost 50 per cent last year.
Al Tayer calls for global action on critical minerals to power clean energy transition
Saeed Mohammed Al Tayer, Chairman of the World Green Economy Organisation (WGEO), has called for stronger international cooperation and investment in critical minerals, describing them as essential to achieving global climate goals and accelerating the transition to clean energy.
UAE, US strengthen economic and financial partnership during Washington talks
The UAE and the United States have reaffirmed their commitment to expanding economic cooperation during a series of high-level meetings in Washington, D.C., led by UAE Minister of State Saeed Al Hajeri.
RTA signs AI partnerships with Chinese firms to boost future transport projects
Dubai's Roads and Transport Authority (RTA) has signed two strategic agreements with Chinese technology giants Huawei and CASCO SIGNAL to accelerate the use of artificial intelligence, smart transport systems and digital infrastructure across the emirate's future mobility projects.
UAE joins global AI initiative at Washington summit
The UAE has joined 35 other countries in signing the Joint Statement on AI Opportunities during the second Pax Silica Summit in Washington, D.C., reinforcing its commitment to the responsible development of artificial intelligence.
