United Arab Emirates

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Foreign investors try to tap into Iran

A few investors are racing to establish funds for Iran following last week's nuclear deal with world powers, and many others are tapping into multinationals already present in the $400 billion economy.

The agreement has made some seek a foothold in Tehran's $100 billion stock market even before sanctions are lifted, although others are taking a more cautious approach.

Iran link documented in official report for Turkey's corruption probe

A customs ministry report has showed that several companies of Reza Zarrab, an Iranian-Turkish businessman who was embroiled in Turkey?s huge graft probe that went public in December 2013, made both money and gold transfers to Babek Zencani, another Iranian businessman currently imprisoned in Iran on accusations of corruption. 

Shelling by Yemeni group kills four soldiers on Saudi border

Shelling by Yemen's Houthi militia killed four soldiers from Saudi Arabia and the United Arab Emirates stationed on Yemen's border with the kingdom, Saudi state media reported on June 25.

The Houthis have stepped up attacks on Saudi border posts in recent weeks, despite three months of bombardment by a Saudi-led coalition intent on restoring Yemen's government in exile. 

Car bomb targeting UAE officials kills 3 Somali soldiers in Mogadishu

At least three people were killed when a car bomb targeting military trainers from the United Arab Emirates hit their convoy in the Somali capital but the officials were unharmed, police said on June 24.

The Islamist militant group al Shabaab claimed responsibility for the attack and said it carried out the attack and "inflicted casualties" without giving details. 

Mastic products now in Dubai

Mastic, or masticha (Pistacia lentiscus), the “gold of Chios”, the eastern Aegean island, has found a new home in high-flying Dubai.

Local entrepreneur Mansoor Al Bastaki is the owner of a Mastihashop outlet and cafe in the UAE emirate, which since February offers a range of skincare products and confectionery featuring the iconic ingredient.

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