Author: Arshad Shaheen

Consumer prices in Dubai fell in January, bringing the annual inflation rate in the emirate down to 4.6 per cent, as the cost of transport fell as a result of lower oil prices. Dubai’s Consumer Price Index declined by 0.6 per cent last month from 5.2 per cent in December 2022, the latest data from the Dubai Statistics centre showed. Inflation in the emirate, the commercial and tourism centre in the Middle East, is expected to average 3.5 per cent this year, down from 4.7 per cent in 2022, Edward Bell, senior director of market economics at Emirates NBD, said in a…

China’s soft power is reshaping the region and Beijing is loath to let spoilers like Iran disrupt the trend China joined Saudi Arabia and other Gulf Cooperation Council (GCC) members in a joint December 9 statement that qualified Iran as a supporter of regional terrorist organizations. The statement called on participants “to address the Iranian nuclear file and destabilizing regional activities, address support for terrorist and sectarian groups and illegal armed organizations, prevent the proliferation of ballistic missiles and drones, ensure the safety of international navigation and oil installations, and adhere to UN resolutions and international legitimacy,” according to a…