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.
OPEC+ set to hold oil output policy steady
OPEC+ will likely leave oil output levels unchanged at its meetings on Sunday, four OPEC+ sources said as the group slows down its push to regain market share amid fears of a looming supply glut.
Dubai sets new rules to regulate petroleum trading
Dubai has introduced new regulations related to the trading of petroleum products across the emirate.
DXB set for a strong year-end travel peak with 10 million guests expected
Dubai International (DXB) is preparing for a strong year-end travel wave, with forecasts indicating over 10 million travellers set to pass through the airport from November 27 to December 31.
Australian delivery workers set to gain minimum pay in landmark deal
Australian food delivery workers are on course to gain minimum pay levels after Uber Eats and DoorDash struck a deal with the country's transport union that is being hailed as a world first.
Dubai Airshow 2025 attracts over AED741.8 billion in deals
The 19th edition of the Dubai Airshow has set a historic record with deals surpassing AED741.8 billion ($202 billion), achieving double the AED370.9 billion ($101 billion) secured at its 18th edition in 2023.
