Sign in
It’s a busy morning for the UAE in the foreign press, with everything from climate issues to the national clampdown on money laundering making the rounds — as well as reports that the UAE is vying for an EU trade pact separate from the GCC.
#1-Reuters cited informed sources as saying that the UAE is nudging the EU towards a bilateral trade pact “separate from an Arab bloc,” due to slow trade negotiations between the Union and the GCC — reports which the wire service says an unnamed Emirati official has denied. A few of the sources said there has yet to be an official proposal from the UAE.
#2- Russia’s access to the global banking system via Gulf and European banks is shrinking due to increased scrutiny and sanctions, The Wall Street Journal reports. Dubai’s government-owned Emirates NBD has significantly reduced its Russia-related business, including shutting down accounts held by Russian oligarchs and traders of Russian oil.
ICYMI- The UAE was officially marked off the Financial Action Task Force’s “graylist” last month after the UAE successfully cracked down on anti-money laundering and counter-terrorism financing “deficiencies.”
#3-Plans for a new vertical farm facility in Dubai’s Food Tech Valley got the spotlight in CNN Arabic, in a piece that explores the challenges and interests behind the zero-waste food security initiative ReFarm’s decision to launch the vertical farm by 2026. The facility, dubbed GigaFarm, will power technology provided by Scottish company IGS to transform waste into agricultural products, and produce up to 3 mn kg of food annually.
ALSO GETTING INK-
- Dubai Airports boss gives two cents on global travel: Heathrow Airport is no longer a “global transport hub,” due to capacity shortages and prolonged debates over the development of a third runway, Dubai Airports CEO Paul Griffiths said, according to The Telegraph. Griffiths also criticized the West’s emphasis on the environmental impact of travel, and how that is hindering their development compared to competitors abroad.
- CNBC looks into how the UAE aims to address its water scarcity issue with cloud seeding, a weather modification technique to increase rainfall.
