Issue 1190 PDF: UAE closes in on three more trade pacts, but gains from initial agreements seem elusive


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Issue 1190 - 08 Aug 2024

The issue leads with a focus on the UAE's trade deals. The UAE has seen distinctly mixed results from the six Comprehensive Economic Partnership Agreements that it has brought into force over the past two years. Trade with India has been growing at a slower pace than trade with the rest of the world and other deals have also been underperforming, as the easing of tariffs and other trade restrictions rubs up against broader geopolitical and macroeconomic issues.

GSN also examines the situation in Yemen, following a Houthi drone attack on Tel Aviv and an Israeli strike on Yemen’s Hodeidah port in July, as well as renewed fighting on a number of frontlines. UN special envoy Hans Grunberg has warned that the country is close to a tipping point and there is a risk of a return to full-scale war.

GSN looks at comments by finance minister Anwar Al-Mudhaf, which suggest Kuwait may consider some bold economic steps while the National Assembly (parliament) is sidelined.

Politics coverage includes a look at the tumultuous start to  Masoud Pezeshkian' term as president of Iran, following the assassination of Hamas political bureau leader Ismail Haniyeh in Tehran.

Economy and business coverage leads with Saudi Arabia, which has outlined the details of its bid to host the 2034 football World Cup, in bid documents that were formally submitted to the sport’s governing body Fifa in late July.

The risk management report is on UAE, where the authorities claim to have identified a group of terrorist exiles.

The GSN View focuses on Oman, which has taken a significant step closer to becoming the first in the Gulf Co-operation Council to start taxing its citizens’ income.

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