UAE: Rich Gulf state looking beyond oil

Asia's Tech News Daily

UAE: Rich Gulf state looking beyond oil
© Giuseppe CACACE The number 50 is displayed on a building in the Gulf emirate if Dubai with the Burj Khalifa in the background, on November 29, 2021, celebrating the upcoming United Arab Emirates’ 50th anniversary which falls on December 2

The United Arab Emirates, which turns 50 on December 2, is a wealthy Gulf oil state and economic hub that has turned into one of the region’s most influential countries.

– Expat majority –

The UAE is a federal state of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Sharjah Umm al-Qaiwain and Ras al-Khaimah. 

Ninety percent of its 10 million inhabitants are foreigners.

The capital Abu Dhabi, and above all Dubai, are extremely well-connected air hubs and also home to the regional headquarters of thousands of companies. 

The UAE has in recent years relaxed its residency regulations to boost its economy and attract more foreign investment.

– Economic powerhouse –

With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank. 

One of the top oil producer in OPEC, the federation’s rapid growth since the 1970s has been driven by its oil and gas wealth.

But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP.

In August, the UAE joined the nuclear club, with the Barakah nuclear power station, the first in the Arab world, coming on line.

It also has one of the most vaccinated population in the world against Covid-19, according to official sources.

– Transformation –

With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a major financial, transport and media hub in the space of a few decades.

Known for its glitzy shopping centres and its forest of skyscrapers, including the tallest in the world, the Burj Khalifa, it has become a major tourist destination.

Abu Dhabi is home to a branch of the Louvre, with its art collection housed in a spectacular museum designed by French architect Jean Nouvel.

Expo 2020 Dubai opened its doors in October after being postponed because of the Covid pandemic.

The first time one of the world fairs has been held in the Arab world, it is expected to attract millions of visitors before it closes on March 31.

– Regional force –

The Emirates and Gulf ally Bahrain last year normalised their relations with Israel amid rising tensions with Iran, which they have accused in the past of stoking tensions in the region.

The UAE and Teheran have been at loggerheads since 1971 over three disputed islands in the Gulf that Iran occupied. 

The Emirates also rowed back diplomatic ties with Tehran in 2016 as rivalry between its neighbour Saudi Arabia and the Islamic republic escalated.

Despite the tensions, the two states have maintained business links.

Earlier this month the UAE drew criticism from its US allies when its chief diplomat Abdullah bin Zayed Al-Nahyan met Syrian President Bashar al-Assad in the first official visit to Damascus since the 2011 start of Syria’s civil war.

– All hail ‘MBZ’ –

UAE President Sheikh Khalifa bin Zayed Al-Nahyan, who is also ruler of Abu Dhabi, has rarely appeared in public since a stroke in 2014.

His half-brother, Crown Prince Mohamed bin Zayed Al-Nahyan, or “MBZ”, is the de facto UAE leader.

– Space missions –

The Emirates also aims to become a major science and technology player, sending its first astronaut into space in 2019 for eight days aboard the International Space Station.

In February 2021, the UAE sent a probe named “Amal” (Hope) into orbit around Mars, the first Arab country to pull off such a feat.

acm/fg/hc/hkb

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Govt urges Covid caution as wedding season begins in Bihar

© Provided by Hindustan Times Covid-19 vaccination in Patna. (Santosh Kumar/HT Photo) PATNA With the beginning of the marriage season, the government on Friday cautioned people to adhere to Covid-19 ... Read more »

‘Get in’, ‘Shame it didn’t work’ – These Sheffield United fans react to outgoing transfer deal

© Provided by Football League World Celtic v St Mirren – Ladbrokes Scottish Premiership After much speculation regarding his future, Oliver Burke has departed Sheffield United for the remainder of ... Read more »

I'm a nurse and there's a specific time you should be having sex for maximum benefit

SEXUAL wellness is an important facet of our lives. We all know there are reported benefits when it comes to sex, but we’re not exactly sure why or how they ... Read more »

GSK, Vir ramping up U.S. output of COVID antibody drug

© Reuters/DADO RUVIC Illustration of GSK logo (Reuters) – GlaxoSmithKline and U.S. partner Vir Biotechnology will boost production of their antibody-based COVID-19 treatment by adding a second manufacturing plant to ... Read more »

Jewellery shop looted in Patna, locals nab one of four robbers

© Provided by Hindustan Times Police inspect the jewellery shop after the incident in Patna on Friday. (Santosh Kumar/HT Photo) Four armed robbers looted a jewellery shop in the busy ... Read more »

Prince William will visit Dubai next month, palace announces

Prince William will visit Dubai next month, Kensington Palace has announced. The Duke of Cambridge will visit Dubai on February 10, with his trip coming as the United Arab Emirates marks its 50th year ... Read more »

Dennis Politic sends message to Bolton Wanderers and Port Vale after sealing Cremonese transfer

Dennis Politic has wished Bolton Wanderers all the best for the future and described his time at the club as an ‘absolute pleasure’. The 21-year-old joined Wanderers aged 15 and ... Read more »

Former Mumbai supercop Aftab Ahmed Khan, reprised by Sanjay Dutt in Shootout at Lokhandwala, dies at 81

© Provided by Jagran English Mumbai | Jagran News Desk: Legendary IPS officer Aftab Ahmed Khan – among the earliest of ‘Dirty Harrys’ who inspired the concept of specialised Anti-Terrorism ... Read more »

New daily infection record in Trondheim: 1,160 corona cases

A record number of new corona cases was registered in Trondheim on Thursday – 1,160 cases.  The previous daily infection record was set on Wednesday this week with 747 cases. ... Read more »

Read the never-issued Trump order that would have seized voting machines

© Brandon Bell/Getty Images Former President Donald Trump attends a border security briefing June 30, 2021 in Weslaco, Texas. Among the records that Donald Trump’s lawyers tried to shield from ... Read more »

Here's What The White Spots on Your Nails Mean

What white spots mean Spencer Kroll, MD, has a book on his shelf that he used in medical school. In it, there’s information about a once-common practice for doctors. When ... Read more »

Biden accepts Japanese Priinvitation to visit Japan; discussed Ukraine and North Korea with prime minister

© White House Photo In this White House handout photo, President Joe Biden meets virtually with Prime Minister Kishida Fumio of Japan, on January 21, 2022. President Joe Biden on ... Read more »

Alfonso Ribeiro will tune into Will Smith's French Prince of Bel-Air reboot, Bel-Air

© Bang Showbiz Alfonso Ribeiro will watch Bel-Air Alfonso Ribeiro is “crazy supportive” of the ‘Fresh Prince of Bel-Air’ reboot. The 50-year-old actor – who starred in the 90s sitcom ... Read more »

Poll of Polls: In UP's Caste Crucible, CM Yogi Predicted to Return to Power; SP to Make Significant Gains

The nerve centre of the upcoming assembly elections, Uttar Pradesh is the key for the BJP to stamp its authority on national politics. With 403 assembly seats, the state has ... Read more »

«Reisserische Berichterstattung gehört nicht gefördert»

Der GLP-Chef lehnt die geplante Medienförderung ab – und schert damit in der eigenen Partei aus. Allerdings argumentiert er ganz anders als die meisten Gegner. Der GLP-Chef lehnt die geplante ... Read more »

Lieferprobleme: Wenn der Neuwagen später kommt: Das bieten die Garagisten an

Der globale Chipmangel sorgt für Lieferverzögerungen bei Neuwagen – auch in der Schweiz. Schlecht, wenn ausgerechnet jetzt das Leasing ausläuft oder der alte Wagen zusammenbricht. Wie werden die Verzögerungen überbrückt? ... Read more »

Tamil Nadu to observe complete lockdown on January 23 amid Covid-19 spike

© Provided by Zee News New Delhi: The Tamil Nadu government on Friday (January 21) announced a complete lockdown on January 23 in view of the Covid-19 surge.  Tamil Nadu ... Read more »

Kundali Bhagya, 21 January 2022, Written Update: Kritika develops a soft corner for Prithvi

© Provided by Pinkvilla In today’s episode, Karan tells Preeta that he feels like a one-sided lover. To this, Preeta acts busy. As Karan leaves, Preeta feels happy to know ... Read more »

Is Omicron wave already flattening off? UK Covid cases drop just 4%

There were signs the UK’s wave of Omicron infections was starting to level off today as the country reported just a 4 per cent fall in daily cases — but ... Read more »

Gang leader and fraudster handed £50,000 Covid bounceback loan for fake company despite 48 convictions

© GMP A judge said it “defies belief” that Asif Hussain managed to obtain a Covid bounceback loan – GMP A judge has ordered an investigation into how a crime ... Read more »

I applied for 60 jobs and didn't get a single interview – then I realised what I'd done wrong and was mortified

A WOMAN who applied for around 60 jobs and didn't hear back from any of them was left mortified after discovering what she'd sent with her applications instead of her ... Read more »

Ibrahim Ali Khan and Palak Tiwari don their casual best step out of a restaurant in the city; See PICS

Paparazzi spot celebs at different locations in the dream city of Mumbai and click them while they go about their day. They never miss a chance to photograph the tinsel ... Read more »

Trump appointee blocks Biden federal worker vaccine mandate

© Provided by Associated Press FILE – A dose of a Pfizer COVID-19 vaccine is prepared at Lurie Children’s hospital, Nov. 5, 2021, in Chicago. Three new U.S. studies offer ... Read more »

'Kedarnath' fame Arun Bali taken to hospital after being diagnosed with rare neuromuscular disease: Reports

© Provided by Pinkvilla Veteran actor Arun Bali has been hospitalised after being diagnosed with a rare neuromuscular disease, according to the latest reports. After a thorough examination, Arun Bali ... Read more »

Shifting of Amar Jawan Jyoti, new Netaji statue trigger political protest in Bengal

© Provided by Hindustan Times Merging of the Amar Jawan Jyoti flame at India Gate with the flame at the National War Memorial in New Delhi on Friday. (Amal KS/HT PHOTO.) ... Read more »

Emily Ratajkowski sees herself 'working in film' more

© Bang Showbiz Emily Ratajkowski wants to work in Hollywood more Emily Ratajkowski has “so many” plans for her career. The 30-year-old model-and-actress isn’t afraid of doing “badly” when she ... Read more »

Boris Johnson will only have a few hours to view Sue Gray party report before it is published

© Provided by The i Sue Gray is leading the investigation into allegedly lockdown-breaching Downing Street parties (Courtesy of gov.uk /Handout via Reuters) Boris Johnson will only have a few ... Read more »

Covid rules: Millions of clinically extremely vulnerable people advised to follow guidance after Plan B ends

© Provided by The i Clinically extremely vulnerable people are being advised to continue to follow Covid guidance (Anadolu Agency via Getty Images) Millions of clinically extremely vulnerable (CEV) people ... Read more »

Deal Alert: Huge Sumitomo Tire Sale at Walmart Right Now

We all know how expensive a new set of tires can be. That goes double for the sense of dread whenever the mechanic says, “Yep, these are getting close to ... Read more »

Original inquest file on Army shooting of teenager missing, coroner hears

© PA Archive A new inquest into the teenager’s death is scheduled to be heard in Banbridge courthouse across two weeks in December this year (Yui Mok/PA) – PA Archive ... Read more »

Lebanon’s draft budget heaps even more pain on the poor

© Provided by Al Jazeera The draft budget shared with Al Jazeera calls sees revenues from VAT – a regressive tax – tripling this year [File: Mohamed Azakir/File] Beirut, Lebanon ... Read more »

Revived Footage Shows Classic On The Streets Of New York In The '30s

This restored footage shows old Chevrolets, Fords, Cadillacs and Packards in their original state, in live action. The 1930s was a significant era for the American automotive market as people ... Read more »

Cadwalladr reports on Arron Banks’ Russia links of huge public interest, court hears

Reporting by the Observer and Guardian journalist Carole Cadwalladr on the “covert relationship” between the multimillionaire Brexit backer Arron Banks and the Russian government was of the greatest public interest ... Read more »

Brian Daboll is favorite for Giants coach after hiring Joe Schoen as GM

The Giants might soon become Buffalo Bills South. With Joe Schoen named the new Giants general manager, Bills offensive coordinator Brian Daboll has become the early favorite to be the ... Read more »

Domestic violence case against Dwayne Haskins' wife Kalabrya dismissed

Dwayne Haskins and his wife Kalabrya Gondrezick-Haskins have apparently hashed out their differences following an altercation in July that led to her being charged with felony domestic violence battery. Court ... Read more »

'Fake heiress' Anna Sorokin asked to hear Julia Garner's version of her accent when the 'Inventing Anna' star visited her in prison

© Provided by INSIDER Julia Garner (left) and Anna Sorokin. Kevin Mazur/MG21/Getty Images for the Met Museum/Vogue;Timothy A. Clary/AFP via Getty Images Julia Garner says Anna Sorokin (aka Anna Delvey) ... Read more »

Prince William Jokes 'Don't Give My Wife Any More Ideas' as Kate Middleton Holds a Baby Girl

Prince William wants to make sure his wife, Kate Middleton, doesn’t have baby fever! The 40-year-old Duchess of Cambridge traveled to Lancashire, England, with her husband on Thursday, where she ... Read more »

Exposing Kids to Safe Levels of Peanut When Young Might Prevent Allergy

© Provided by HealthDay FRIDAY, Jan. 21, 2022 (HealthDay News) — Some kids might be able to get over their peanut allergy if they start immunotherapy while they’re still toddlers, ... Read more »

Somi celebrates life and legacy of Miriam Makeba in star-studded tribute album

© Provided by Independent Online (IOL) Grammy-nominated musician Somi Kakoma is set to release her forthcoming new album, “Zenzile: The Reimagination Of Miriam Makeba”, in honour of the music icon, ... Read more »

News conference scheduled for update on attack of Colleyville synagogue

Federal and local authorities have scheduled a news conference Friday afternoon to provide an update on the Saturday hostage situation at Congregation Beth Israel that left one man dead. Malik ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic