Author: Ayyoob el-Firman

DUBAI, Oct 14 (Reuters) – The United Arab Emirates and South Korea have concluded talks towards a bilateral trade deal, known as a Comprehensive Economic Partnership Agreement (CEPA), the two countries said on Saturday. Trade and investment ties between the Gulf state and South Korea have been steadily advancing; in the first half of 2023, bilateral non-oil trade reached $3 billion, similar to the same period last year, but up 21% over 2021, a statement said. The Korea Electric Power Corporation and a consortium of Korean firms also constructed all four units of the $20 billion nuclear Barakah Power Plant…

TASHKENT, Uzbekistan, September 27. The aviation authorities of Uzbekistan and Russia have agreed on a significant increase in the number of flights, Trend reports. As per data by the Ministry of Transport of Russia, increase will be recorded in the number of following routes: Tashkent – Moscow – Tashkent – from 39 to 50 times a week Tashkent – St. Petersburg – Tashkent – from 7 to 14 times a week Bukhara – Moscow – Bukhara – from 10 to 14 times a week Urgench – Moscow – Urgench – from 7 to 14 times a week Tashkent – Krasnoyarsk – Tashkent –…

Kazakhstan’s government unveiled extensive economic development plans aimed at bolstering its economy. It is actively seeking cooperation with Korean conglomerates, such as Hyundai Motor Group and Samsung Electronics, POSCO, to lead such efforts.Earlier this month, Kazakhstan’s President Kassym-Jomart Tokayev delivered his state-of-the-nation address, titled, “Economic Course of a Just Kazakhstan,” outlining ambitious economic reform plans and a new economic direction for the nation that will create more opportunities for international cooperation.”A growing number of Korean companies have committed to establishing production facilities in our country, and we are in talks with other major conglomerates to expand cooperation,” a Kazakh government…

The UAE’s gross domestic product (GDP) is projected to grow by 3 per cent in 2023, rising to 4 per cent next year, according to S&P Global estimates. Growth is driven by the non-oil sector, which is expected to benefit from strong growth in tourism, government initiatives, and technological advancements, analysts at the credit rating agency said in a statement to state news agency, WAM. Over the years, the UAE has implemented several comprehensive economic and social initiatives that are designed to set the stage for sustained and long-term growth, said S&P Global. Trevor Cullinan, sovereign ratings analyst at S&P Global said key contributors…

LONDON: Abu Dhabi will host a global summit for faith leaders on Nov. 6-7 to highlight the critical role of faith communities in combating climate change, Emirates News Agency reported on Wednesday. The two-day summit will take place ahead of the 28th Conference of the Parties of the UN Framework Convention on Climate Change, COP28, in Dubai from Nov. 30 to Dec. 12. It will be organized by the Muslim Council of Elders in partnership with the COP28 Presidency, the UN Environment Programme, and the Catholic Church, and under the patronage of the UAE’s President Sheikh Mohamed bin Zayed Al-Nahyan.…

ASTANA – Saudi Arabia is a key strategic partner of Kazakhstan in the Islamic and Arab world, said President Kassym-Jomart Tokayev at a July 19 meeting with Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud, reported the Akorda press service. The President thanked him for the hospitality and the invitation to participate in the first Gulf Cooperation Council (GCC) – Central Asian countries summit. The parties reviewed trade, economic and investment cooperation, interactions in the energy sector, particularly green energy, and tourism, agriculture, transport, and logistics. The Crown Prince noted that Kazakhstan is…

MANILA: The Philippines will focus on strengthening its ties with the UAE in the areas of innovation and technology, its envoy told Arab News on Saturday as the two countries celebrated 49 years of bilateral relations. Manila and Abu Dhabi established diplomatic ties on Aug. 19, 1974, and Filipinos were among the first expatriates to come to the UAE in the 1970s to help develop the country. Currently, around a million Filipino expats live and work in the UAE, making the Emirates their second-largest employer after Saudi Arabia. Most are employed in hospitality, healthcare, construction, the creative industries, or housekeeping. “Relations…

ASTANA – Investments in the bonds of the Kazakh Finance Ministry have soared to a historic high of 453 billion tenge ($1 billion), said Olzhas Igsatov, the head of the monetary operations department at the National Bank of Kazakhstan, the bank’s press service reported on Aug. 2. According to Igsatov, investments of non-residents in the ministry’s government securities and the National Bank’s notes collectively increased by 178 billion tenge ($398.8 million) to 559 billion tenge ($1.2 billion) in January-July, which is a record since March 2022. The presence of non-resident investors in notes increased by 6 billion tenge ($13.4 million),…

The foreign ministers of the United Arab Emirates and China discussed ways to improve bilateral cooperation between their countries in a phone call on Friday, local media outlets reported. The call between Sheikh Abdullah bin Zayed bin Sultan Al Nahyan and Wang Yi, who assumed the post just 10 days ago, drew attention to the 40th anniversary of diplomatic relations between the two countries, according to the Emirates News Agency (WAM). The anniversary will be celebrated in 2024, the agency noted, adding that Al Nayhan praised his country’s “well-rooted and strategic relations” with China. Wang was appointed to the post…

The bridge linking Russia to Crimea has partially reopened a day after it was attacked, the Russian government says. Vehicles were using a single lane of the bridge across the Kerch Strait, an official said, posting clips. A holidaymaking couple were killed and their daughter injured in the attack on the bridge which Russia blamed on seaborne drones launched by Ukraine. Russia refused to extend a deal to export grain from Ukrainian ports but denied this was retaliation. Condemning the attack on the bridge as an act of terrorism against a critically important transport link, Russian President Vladimir Putin did…