United Arab Emirates
LONG READ: Trade is the glue that holds Global Emerging Markets Institutions together
The world order is changing. The emerging markets are coming of age and they are setting up a raft of largely non-Western Global Emerging Markets Institutions (GEMIs) to coordinate their lives. Trade is the glue that binds them together.
Iran's central bank plans major currency intervention as rial tanks
Iran's Central Bank plans major currency supply intervention in Tehran and Dubai unofficial markets next week to reduce dollar rate from current IRR1.175mn level.
LONG READ: The GEMIs, the Global Emerging Markets' interlocking institutions
The international order is breaking up as the Global Emerging Markets build a raft of new non-Western interlocking international institutions to run their vision of a new multipolar world order.
Can PayPal’s $100mn Middle East and Africa push challenge local fintechs, mobile money leaders?
In much of the MEA region, local fintechs and mobile money providers dominate consumer payments, often outpacing global players such as PayPal.
Austria's OMV fires senior exec for Russian espionage
Austrian energy and chemicals group OMV has fired a long-serving executive over suspicions of espionage for Russia, and Vienna has summoned a Russian diplomat in connection with the case.
NVIDIA and TII establish Middle East's first joint AI and robotics laboratory in Abu Dhabi
NVIDIA and Technology Innovation Institute launch Middle East's first joint AI and robotics laboratory in Abu Dhabi, establishing regional hub for next-generation intelligent systems development.
Flydubai launches Romania's second route with inaugural Iași service
Flydubai becomes the first UAE carrier to serve Iași with twice-weekly flights from Dubai, expanding its Romanian network alongside triple daily Bucharest service.
GCC's Defence Council approves measures to strengthen defence integration following Israeli attack
Gulf Defence Council condemns Israeli attack on Qatar, approves enhanced intelligence sharing and joint military exercises to strengthen regional defence integration mechanisms.
Flydubai launches twice-weekly service to Moldova's capital
Flydubai becomes first UAE carrier to serve Moldova with twice-weekly Chișinău flights from Dubai, expanding European network with connections to underserved destinations.
Flydubai expands Kenya operations with new Nairobi flights and increased Mombasa services
Flydubai launches new Nairobi flights from October 15 and increases Mombasa to daily service, bringing total weekly Kenya flights to 11 as part of African expansion.
Small, medium-sized countries establish Future of Investment and Trade Partnership
UAE joins 13 countries in establishing Future of Investment and Trade Partnership to promote open trade, strengthen supply chains and address emerging economic challenges globally.
UAE and India partnership council support startups in both countries
UAE's RAKEZ partners with India economic council to launch startup series supporting entrepreneurship and global expansion opportunities for both countries.
Extreme poverty falling steadily – OWID
To track progress towards ending extreme poverty, the United Nations relies on World Bank estimates of the number of people living below a poverty threshold called the “International Poverty Line” (IPL), Our World in Data (OWID) reports.
Iran cleric says disputed islands belong to Tehran, not UAE
Iran's Friday prayer leader reaffirms claim to disputed UAE islands whilst warning against Hezbollah disarmament as threat to Islamic world security.
Xi and Putin to join BRICS emergency talks on US trade measures
Brazil's President Lula rallies leaders from emerging economies for a virtual meeting to find a coordinated response to aggressive US trade measures.
Xi pitches an equitable “multipolar” world order leveraging Global South “mega-markets power” at SCO summit
Chinese President Xi Jinping and Russian President Vladimir Putin called on Global South leaders to leverage their "mega-scale market" and strive for a new equalitarian multipolar world order at the SCO summit in China.
US EPA’s controversial Climate Crisis report is full of lies and mistakes
The US Environmental Protection Agency (EPA) released a controversial report in July claiming the effects of the Climate Crisis were overblown. A fact check by Carbon Brief found it is full of lies and errors.
Mapping global drought risk - Statista
By 2050, more than 1.6bn people, including almost 20% of the African population, will be exposed to severe and extreme droughts, if a pessimistic scenario plays out, according to a report by INFORM Climate Change.
Forest carbon credits are facing a reckoning over albedo risks
Planting trees should reduce the amount of CO₂ in the atmosphere right? Well, its not so easy as that. Trees also provide shade and prevent sunlight from reaching the ground that could reflect it back into space, cooling the plant.
Syria signs $14bn investment deals with international companies
Syria signed investment memorandums of understanding for 12 strategic projects worth $14bn with international companies in Damascus on August 6.