Iran and Oman have signalled that they are close to reaching an agreement on arrangements for commercial navigation through the Strait of Hormuz, raising hopes of a breakthrough in the crisis that has disrupted one of the world's most important energy corridors.
The UAE joined the trade ministers from the BRICS group as they met in India to discuss ways to strengthen the multilateral trading system, improving trade resilience and market connectivity, as well as supporting SMEs amid growing challenges to global commerce owing to Strait of Hormuz shutdown.
Abu Dhabi National Oil Company (ADNOC) has announced that one of its vessels was targeted by a missile today while transiting the Strait of Hormuz early on Saturday (August 8). The incident resulted in no injuries, and the situation has been brought under control, said ADNOC in a statement.
Global food prices rose in July to their highest level in more than three years, driven by increases in cereal, sugar and vegetable oil prices amid concerns over global grain supplies and the impact of weather conditions on agricultural production.
Employees in the UAE’s federal government and private sector will observe the Prophet’s Birthday holiday on Friday, August 28, creating the prospect of a three-day break for those who have Saturday and Sunday as their regular weekend.
Saudi Arabia, Türkiye and Pakistan have signed a landmark joint defence agreement committing the three countries to strengthen collective security and treat an armed attack against any one of them as an attack against all three.
Riyadh will host the second edition of ARTDOM Riyadh, an international forum for contemporary design that brings together architecture, interior and product design, art, real estate development, and the hospitality industry in October.
Gulf tensions remain high despite signs of diplomatic progress over the Strait of Hormuz, with Saudi Arabia warning of imminent coordinated attacks by Iran-backed militias even as Tehran and Muscat move closer to an agreement aimed at restoring commercial shipping through the strategic waterway.
Saudi Aramco President and CEO Amin H Nasser tops the Forbes Middle East’s sixth annual Top 100 CEOs list, which spotlights the executives leading the region’s most impactful organisations.
Diplomatic efforts to ease tensions between the United States and Iran gathered momentum on Tuesday, with Qatar saying negotiations have reached "very progressive stages" and draft proposals for a possible agreement are now being circulated, even as Iran and Oman continued talks on future shipping arrangements in the Strait of Hormuz.
