The UAE has joined over 50 other countries at the official launch of the Asian Infrastructure Investment Bank (AIIB) in Beijing. China is providing the bulk of the new lender’s capital, while the UAE is set to contribute $237 million (AED 870.3 million) over five years. AIIB will help mobilise funds for infrastructure projects in the Asian region, mainly focusing on developing economies. It’s the first international development bank which doesn’t have the United States and Japan as partners.
ATM 2026 rescheduled to August
The 2026 edition of Arabian Travel Market (ATM), originally scheduled to take place from May 4-7 at Dubai World Trade Centre, will now take place from August 17-20, with the venue remaining unchanged.
UAE Central Bank approves resilience package to support banking sector
The UAE’s Central Bank (CBUAE) approved, on Tuesday, a wide-ranging financial resilience package aimed at strengthening the banking sector and supporting the wider economy amid global and regional uncertainty.
IEA members could release more oil stocks 'as and if needed,' agency chief says
Member countries of the International Energy Agency (IEA) could release more oil into the market later "as and if needed" after they have already agreed the largest-ever reserve release, Executive Director Fatih Birol said on Monday.
EU floats Black Sea model to unblock Strait of Hormuz
EU foreign policy chief Kaja Kallas said on Monday she had discussed with the United Nations the idea of freeing up transport of oil and gas through the Strait of Hormuz by replicating a deal that gets grain out of Ukraine during wartime.
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