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Abu Dhabi National Oil Co (ADNOC) has bought millions of barrels of discounted crude from Iraq's state oil firm, three people familiar with the matter said, expanding its role as a trader amid supply disruptions from the Iran war.
The UAE's post-pandemic boom is being tested by a war showing few signs of resolution, as disruption in the Strait of Hormuz drives up import costs and fuel prices. Yet the economy is showing signs of resilience.
The United Arab Emirates is quietly revising plans for a 5-gigawatt AI data center project – one of the biggest outside the U.S. – after the Iran war prompted a rethink of how and where critical infrastructure should be built, six people familiar with the matter told Reuters.
The United Arab Emirates is building alternative routes for its energy exports and trade to ensure they are not "held hostage" by the ongoing war between the U.S. and Iran, UAE presidential adviser Anwar Gargash said on Monday.
The iShares MSCI UAE ETF offers cheap, income-oriented exposure to the UAE, trading at 9.6x earnings and yielding 4.5%. UAE's portfolio is heavily concentrated in financials and real estate, with nearly 56% exposure, limiting diversification. Despite the UAE's economic transformation, the ETF lags behind, underrepresenting sectors like technology and healthcare.
Blue Edge Capital LLC acquired a new stake in iShares MSCI UAE ETF (NASDAQ: UAE) in the undefined quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 83,906 shares of the company's stock, valued at approximately $13,733,000. iShares MSCI UAE ETF comprises about
- Delivery of the world's largest APM system for airports, supporting the airport development plan to accommodate 260 million passengers annually- MHI Group is
The United Arab Emirates said it was cutting all economic ties with Tehran after accusing Iran of firing ballistic missiles at its territory. -------- More on Bloomberg Television and Markets Like this video?