UAE leaves OPEC in blow to oil cartel during war on Iran
you are currently viewing::UAE leaves OPEC in blow to oil cartel during war on IranApril 28, 2026- Announcement of its exit on Friday comes as Gulf producers are already struggling to ship exports through the Strait of Hormuz. The move, which will take effect on Friday, reflects "the UAE's long-term strategic and economic vision and evolving energy profile", a statement carried by state media said on Tuesday. Source: aljazeera.com |
April 30, 2026-The Abu Dhabi Securities Exchange (ADX) Group has hosted the initial offering period (IOP) for a US-based ETF, followed by the cross-listing of the KraneShares Wahed Alternative Income Index ETF (KWIN).
April 26, 2026-The war has deepened instability in the Middle East
Most stock markets eked out small gains on Sunday despite hopes for a diplomatic breakthrough in the U.S.-Israeli conflict with Iran fading, with stalled talks underscoring the hardening positions of both Tehran and Washington.
April 7, 2026-GDP in Saudi Arabia and the UAE could fall by 3% and 5% respectively
The US-Israel war with Iran has now stretched beyond five weeks, inflicting extensive damage on energy infrastructure, airports, ports and commercial and technology hubs across the six GCC states.
April 2, 2026-Dubai's main share index dropped 1.4%
Major Gulf stock markets fell in early trading on Thursday after President Donald Trump said the U.S. would continue its attacks on Iran, without specifying when the war would end.
April 1, 2026-Dubai's main share index advanced 2.1%
Major Gulf stock markets rose in early Wednesday trading on hopes of a de-escalation in the Iran conflict, with Dubai leading gains as its 1 billion dirham ($272.3 million) support package took effect.
March 31, 2026-Aim for 70% private funding within 10 years
Currently 49% private investment
Iran conflict speeding up timelines
The UAE wants the private sector to lead its space programme within this decade -and the Iran conflict is helping to accelerate the pivot, according to industry experts speaking at an event in Washington.