South Korea Signs Massive Free Trade Deal with UAE, Expanding Mideast Footprint
United Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan signed the Comprehensive Economic Partnership Agreement (CEPA) with his South Korean counterpart Yoon Seok-youl in Seoul on Wednesday, dramatically boosting trade between the two countries. CEPA is South Korea’s first free trade agreement with a Middle Eastern country, South Korea’s Yonhap News Agency reported. ObservedThe […]
UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company
United Nations experts say South Sudan is close to securing a $13 billion loan from a United Arab Emirates company, despite the country having difficulty managing debt backed by its oil reserves. ing. In its report to the United Nations Security Council, the Committee of Experts said loan documents it reviewed show that the deal […]
UAE, other countries removed from international money laundering watchlist
The international watchdog said on Friday it would remove the United Arab Emirates from its so-called gray list of countries that do not take adequate measures to combat money laundering and terrorist financing. The announcement was made by the Paris-based Financial Action Task Force after a meeting in the French capital. The FATF welcomed “significant […]
Cleveland Brothers Posed as UAE Royalty to Run Crypto Scam, Other Frauds
Two Cleveland-area brothers were charged Thursday with fraud and money laundering by federal prosecutors after they allegedly ran a cryptocurrency scam posing as members of the United Arab Emirates (UAE) royal family and defrauding investors of millions of dollars. He was indicted in the ring scheme. According to reports, Zubair Mehmet Abdul Razak al-Zubair, 41, […]
UAE appoints first ambassador to Syria in 13 years
The UAE’s first ambassador to Damascus in nearly 13 years took office on Tuesday, as Syria continues to reintegrate into mainstream regional acceptance. Syrian state media reported that the country’s Foreign Minister Faisal Mekdad received the credentials of Ambassador Hassan Ahmad al-Sihi. The UAE embassy reopened in Syria at the end of 2018, and the […]