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Tag Archives: GCC

Islamic insurance buoyed up corona crisis

The Islamic insurance market will continue to grow at current levels in the coming two to three years as more GCC, southeast Asian and African countries introduce mandatory health care, according to Moody’s Investors Service. Takaful growth will be helped by relatively low levels of insurance penetration and large Muslim …

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UAE building naval patrol vessels worth $950 million

The United Arab Emirates has signed a 3.5 billion dirham ($950 million) contract with Abu Dhabi Ship Building (ADSB) to manufacture four new patrol vessels for the Gulf Arab state’s navy, ADSB said on Tuesday. The contract for Falaj 3-class Offshore Patrol Vessels was the largest ever order received by …

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Iran acknowledges secret talks with Saudi

Iran confirmed publicly for the first time on Monday that it is in talks with its regional arch rival Saudi Arabia, saying it would do what it could to resolve issues between them. “De-escalation of tensions between the two Muslim countries in the Persian Gulf region is in the interest …

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UAE headed to moon with Japanese help

Lunar exploration company ispace will transport a United Arab Emirates rover to the moon in 2022, the company said on Wednesday, as the UAE pushes for rapid expansion in the space exploration business to diversify its economy. The UAE is using its space programme to develop its scientific and technological …

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Israel says Iran behind cargo ship attack

Israeli defence minister Benny Gantz said on Saturday his “initial assessment” was that Iran was responsible for an explosion on an Israeli-owned ship in the Gulf of Oman. The ship, a vehicle-carrier named MV Helios Ray, suffered an explosion between Thursday and Friday morning. A U.S. defence official in Washington …

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Relations finally thaw between Qatar, Egypt

Delegations from Qatar and Egypt met in Kuwait on Tuesday for the first time since an agreement last month to end a rift, both countries’ foreign ministries said, in a further push to bury a Gulf Arab diplomatic feud with repercussions around the Middle East. Saudi Arabia, the UAE, Bahrain …

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Yemen fundraising conference slotted for March

A fundraising event for Yemen’s humanitarian crisis is expected to take place in early March, hosted virtually by Sweden and Switzerland, four aid sources told Reuters on Sunday. A U.N.-backed push for international donors last June fell short of its $2.4 billion target, raising only $1.3 billion for what the …

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Oman’s Diplomatic Moves in Syria

By GIORGIO CAFIERO, BRETT SUDETIC   The Sultanate of Oman has long held a strategy of maintaining diplomatic relations with Middle Eastern countries amid their periods of relative isolation. Since Sultan Qaboos’ ascendance to the throne in 1970, Muscat has never severed diplomatic relations with any country in the world. This is …

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Qatar in new meritime skirmish with Bahrain

Qatar’s interior ministry said on Saturday its coastguard arrested three people on a Bahraini cruiser catching fish in Qatari territorial waters. Bahrain’s interior ministry said it had not received any official notice but that such provocative practices were inconsistent with the principles of the Gulf Cooperation Council (GCC) nations and …

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Israelis, Saudis take diplomatic, economic offensive against Turkey

Israel’s defence minister accused Turkey on Sunday of destabilising the region and working against peacemaking efforts, and called for international pressure to bring about a change in the NATO power’s conduct. Israel generally shies from public censure of Turkey, with which it maintains trade and diplomatic relations despite the pro-Palestinian …

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Iran holds annual drill in Strait of Hormuz

Iran’s military launched an annual drill in the Gulf near the strategic Strait of Hormuz waterway, Iranian state TV reported on Thursday, at a time of high tension between Tehran and Washington. The three-day exercise in the eastern side of the strait in the Gulf of Oman is aimed at …

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