Other Briefings
Iraq Becomes Part Of TIR Transport Convention
Iraq, sitting at the crossroads of multiple Middle Eastern trade routes, has become the 78th country to accede to the United Nations TIR Convention. Iraq’s accession to the TIR anchors its strategic role as a transit hub and supports the country’s economic vision to expand its non-oil sectors. The TIR is the world’s only global […]
China Conducts First LNG Purchase In RMB Yuan With United Arab Emirates
China has conducted its first liquefied natural gas (LNG) purchase settled in Yuan, the Shanghai Petroleum and Natural Gas Exchange announced on Tuesday. The trade involved around 65,000 tons of LNG imported from the United Arab Emirates, according to the exchange.
Dubai Introduces A Metaverse Dispute Arbitration Platform
The Dubai International Arbitration Centre (DIAC) is putting up a Metaverse dispute resolution platform, where those involved in the dispute can get onto the Metaverse platform and participate in finding a resolution – from wherever they might be in the world.
Saudi Arabia Confirms It Has Joined The Shanghai Co-operation Organisation
In another twist in the developing geopolitical evolution of East vs. West, Saudi Arabia has approved a decision to join the Shanghai Cooperation Organisation (SCO), a political and security union of countries spanning much of Eurasia, including China, India and Russia.
Iran Developing As A Regional Freight Rail Hub
The Iranian Ministry of Roads and Urban Development has stated that 1.34 million tons of cargo transited through Iran’s railway lines, during the first 11 months of the last Iranian year (March 21, 2022 through February 19, 2023), implying an annual volume of about 1.46 million tons exported from Iran to other markets.
Saudi Arabia To Allow Foreign Property Ownership
Saudi Arabia is planning to pass a new law that allows non-Saudi residents to own property in the Kingdom, Abdullah Alhammad, the CEO of Saudi’s Real Estate General Authority (REGA) stated on Sunday (March 26).
Why The UAE Joined The BRICS New Development Bank
UAE developing as a global financial hub for MENA investments The United Arab Emirates joined the (BRICS) New Development Bank (NDB) in September 2021. With the BRICS including Brazil, Russia, India, China and South Africa, with Mexico also poised to join, the bloc is poised for additional expansion during 2023. In fact, there are several […]
UAE Central Bank Issues Digital Dirham Strategy
The Central Bank of the UAE has launched the CBUAE Central Bank Digital Currency (CBDC) Strategy, one of the nine initiatives of the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, it said on Thursday (March 23). The CBUAE has engaged with G42 Cloud and R3 as the infrastructure and technology providers respectively for its CBDC implementation.
UAE-Israel Diamond Trade Increases 163% In 2022 To Reach US$1.75 Billion
The Diamond trade between the United Arab Emirates and Israel reached US$1.75 billion in 2022, representing a 163% increase over 2021, according to Dubai Multi Commodities Center (DMCC), the UAE’s global free zone and government authority for commodities.
China and The Developing Multipolar Order in the Middle East
Looking into the implications of the Saudi-Iran agreement By Emil Avdaliani On March 10th, two regional rivals, Iran and Saudi Arabia reached an agreement which lays out a step-by-step program on re-instating severed relations between the two nations. This was brokered by China, with a subsequent ceremony being held in Beijing. This rapprochement between Saudi […]
