UNITED ARAB EMIRATES
US targets petrol tankers over Iran nuclear 'escalation'
The United States announced sanctions on Thursday against shipping companies for transporting Iranian oil. The action was taken in response to Iran’s nuclear program actions, just before the presidential elections in Iran.
Suspected Houthi attack targets a ship in the Gulf of Aden, while Iraqi-claimed attack targets Eilat
Early Wednesday, a suspected missile attack by Yemen's Houthi rebels targeted a ship in the Gulf of Aden. Concurrently, an Iraqi militant group allied with the Houthis claimed responsibility for a drone attack on the southern Israeli port city of Eilat. These incidents mark an ongoing escalation linked to the Israel-Hamas conflict in Gaza, as well as tensions involving Yemen's internal politics.
Suspected Houthi attacks target a ship in Gulf of Aden and Israeli port city of Eilat
Yemen's Houthi rebels launched suspected attacks early Wednesday, targeting a ship near Aden in the Gulf of Aden and the Israeli port city of Eilat. A missile reportedly struck close to a merchant vessel off Aden, with no reported damage. Meanwhile, a drone incident occurred near Eilat, triggering Israeli air raid sirens. The Houthis, known for such attacks, have not claimed responsibility yet. Their ongoing campaign aims to disrupt shipping in the region, citing the Gaza conflict as a motive.
Missile attacks by Yemen's Houthi rebels strike 2 ships in the Gulf of Aden, US military says
Yemen's Houthi rebels launched missile attacks on two ships in the Gulf of Aden. The first target was the Antigua- and Barbuda-flagged cargo ship Norderney, which was hit by two anti-ship ballistic cruise missiles, causing a fire that was extinguished by the crew. The second target was the Liberian-flagged, Swiss-owned container ship Tavvishi, which sustained damage but continued its journey. A coalition warship intercepted a second missile aimed at the Tavvishi.
Team ownership rules complicate a football star’s move
Red Bull, the energy drink maker, pioneered the model. Manchester City, the English champion financed by the wealth of the United Arab Emirates, supersized it through its City Football Group. Jim Ratcliffe, the chair of the chemicals giant INEOS, brought it to Manchester United when he acquired a major stake in the club last year.
Oil dives 3%, OPEC+ decision fails to allay demand worries
OPEC+ on Sunday agreed to extend most of its deep oil output cuts into 2025 but left room for voluntary cuts from eight core members to be gradually unwound from October onwards. The group also agreed to a new output target for the United Arab Emirates, which has been pushing for higher quota.
Mercedes Benz eyes reduced trade barriers from new India government
Mercedes-Benz is urging the next government to prioritise the forging of more free trade agreements and reducing trade barriers to boost sales in the country's growing luxury car market. The company's India head emphasized the importance of FTAs for economic growth and expressed optimism for the future of the luxury car segment in India, where sales have been on the rise.
India imports more silver in 4 months of 2024 than in all of 2023
India's silver imports in the first four months of 2024 have surpassed the total for all of 2023, driven by rising solar panel demand and investor interest. The country imported a record 4,172 metric tons, up from 455 tons a year ago. This surge supports global prices and outperforms gold.
India in talks with Sri Lanka to acquire graphite mine block
Sri Lankan graphite is considered among the purest in the world with more than 98% carbon content, said officials. India has also been in talks with other countries for procuring other critical minerals. "Agreements have been signed with the Democratic Republic of the Congo for cobalt and copper, Tanzania for niobium and graphite and South Africa for graphite and titanium," another official said.
India supports Palestine's membership at UN; says only two-State solution will deliver enduring peace
India has reiterated its backing for Palestine's complete membership at the UN, emphasizing that a lasting peace in the volatile region can only be achieved through direct and meaningful negotiations leading to a two-State solution. Last week, India voted in favor of a draft resolution in the UN General Assembly advocating for Palestine's eligibility and endorsing a favorable reconsideration of the matter by the Security Council.
India concerned over delay in implementation of pathbreaking IMEC project
Billed as a pathbreaking initiative, the IMEC envisages a vast road, railroad and shipping network among Saudi Arabia, India, the United States and Europe with an aim to ensure integration among Asia, the Middle East and the West.
Angry Israeli envoy shreds UN Charter over resolution supporting full membership of Palestine
Israeli Ambassador Gilad Erdan shredded the UN Charter at the United Nations General Assembly in protest of a resolution supporting Palestine's full UN membership. The resolution, passed with 143 votes in favor, 25 abstentions, and 9 against, including the US and Israel, was called a "clear violation" of the UN Charter by Erdan. He accused the UN of supporting terrorism by granting privileges to Hamas. The Palestinian Authority plans to request full UN membership from the Security Council, despite likely US opposition.
India votes in favour of UNGA resolution supporting Palestine's bid to become full UN member
India voted in favor of a UN resolution recommending Palestine for full UN membership. The resolution received 143 votes in favor, signaling a global push for Palestine's status upgrade within the United Nations.
UN assembly approves resolution granting Palestine new rights and reviving its UN membership bid
The U.N. General Assembly approved granting new rights to Palestine, urging Security Council to reconsider U.N. membership. Despite opposition from the U.S. and Israel, the resolution is expected to pass with strong approval amidst the Gaza conflict.
Unified GCC visa: Middle East’s multi-nation travel permit to be rolled out this year
The Saudi Tourism Authority has said the imminent introduction of the Unified GCC visa, permitting travellers to explore all six Gulf nations for more than 30 days, is scheduled for implementation by year's end. This initiative, introduced by the UAE Minister of Economy at the Arabian Travel Market, seeks to stimulate tourism and streamline travel throughout the GCC region. Comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, the Gulf Cooperation Council is actively participating in this endeavour.
India breaks record with over $111 billion in remittances in 2022
India leads 2022 remittances with over USD 111 billion, facing challenges like rights violations in Gulf States and COVID-19 impact on migration patterns, highlighting migrant workers' struggles worldwide.
Gulf's version of the Schengen visa to be called 'GCC Grand Tours', open up access to six countries
The GCC Grand Tours unified tourist visa aims to boost tourism by simplifying travel across Gulf countries, with an estimated 128.7 million visitors by 2030, enhancing the regional economy and cultural exchange opportunities.
L&T's power transmission, distribution business bags multiple orders in India, overseas
Floating solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/lake/abandoned quarry. Compared to ground-mounted solar plants, floating solar plants do not require land acquisition and typically involve less civil work.
Dubai roads, airport reel from floods after record rains
Dubai's giant highways were clogged by flooding and its major airport was in chaos as the Middle East financial centre remained gridlocked on Wednesday, a day after the heaviest rains on record. As sunny skies returned on Wednesday, a day after torrential downpours and rolling black clouds, stories emerged of residents stuck in cars and offices overnight.
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