Tumbling oil prices could see record budget losses for the UAE and Saudi Arabia this year. Prices have hit lower than $40 a barrel, which has put pressure on GCC governments. However, Marios Maratheftis, Global Chief Economist at Standard Chartered expects prices to come up in 2016 due to a limit in oil supplies.
Eleven agreements signed at Al Ain Future Business Forum
Eleven agreements and memoranda of understanding were signed as the inaugural Al Ain Future Business Forum concluded at ADNEC Centre Al Ain.
UAE, Argentina launch CEPA negotiations
The UAE and Argentina have announced the launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), marking a new step in efforts to deepen trade and investment relations.
Meraas awards AED 1 billion contract for Nad Al Sheba Gardens expansion
Meraas, part of Dubai Holding Real Estate, has awarded a contract worth nearly AED 1 billion to GCC Contracting to build 272 villas and townhouses in Phase 7 of Nad Al Sheba Gardens.
Meta launches AI gadget Charm as race for post-smartphone hardware heats up
Meta CEO Mark Zuckerberg on Wednesday has unveiled a small handheld gadget called Meta Charm for using its new Muse AI assistant, taking the company's hardware efforts beyond its successful smart glasses.
UAE Central Bank sanctions Bank Melli Iran over compliance breaches
The Central Bank of the UAE has imposed strict enforcement measures on the UAE branches of Bank Melli Iran following violations of regulatory requirements, including legislation related to anti-money laundering and combating the financing of terrorism and proliferation financing.
