United Arab Emirates

The International Monetary Fund (IMF) has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy.

In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement, in order "to support the authorities' economic stabilization program."

Türkiye has relinquished its position as the country with the highest number of rejected Schengen visa applications in 2021 to Algeria, while topping the list of countries with the most applications, according to data from a Schengen-related news publishing website.

Foreign companies, from a wide range of countries, are showing strong interest in making investments in Türkiye, Trade Minister Ömer Bolat has said.

Foreigners were in the wait-and-see mode due to the uncertainties stemming from the May elections, but now business delegations are flocking to Türkiye to hold talks, Bolat told a group of journalists.

Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek traveled to Qatar yesterday for high-level talks.

Tusk was referring to a law change that would relax visa requirements for citizens from a number of countries including India, Pakistan, United Arab Emirates and Nigeria in order to address shortages in the labour market.

Qatar Airways has reported $1.2 billion in profits over the past year, buoyed by its role in ferrying fans to the soccer World Cup.

The long-haul airline increased its revenue to $21 billion, a 45 percent increase over the previous year, it said.

Its yearly passenger load reached 31.7 million, a 71 percent increase.

The United Arab Emirates plans to triple its supply of renewable energy and invest up to $54 billion over the next seven years to meet its growing energy demands.

Sheikh Mohammed bin Rashid Al Maktoum, the UAE's vice president and ruler of Dubai, announced the plans on July 4 following a Cabinet meeting.

President Recep Tayyip Erdoğan will travel to the United Arab Emirates (UAE) later this month, Treasury and Finance Minister Mehmet Şimşek said, adding that some agreements could be signed during the president's visit.

Erdoğan's visit to the UAE will probably take place after a NATO summit on July 11-12, Şimşek told reporters after the cabinet meeting on July 3.

Intrakat announced on Friday that it has signed an agreement with Ecomar Storage Solutions FZE, an affiliate company of Ecomar Energy Solutions located in Fujairah, United Arab Emirates, for the implementation of the Ecomar Phase 3 Terminal Project. 

The company operates in the sectors of processing and trading in oil and natural gas, as well as sustainable safe refining. 

Gulf oil states are using their vast wealth to build influence across the far-flung South Pacific, experts have told AFP, tearing a page straight out of China's Belt and Road playbook.

Saudi Arabia and the United Arab Emirates, two of the world's biggest crude oil producers, have been ramping up efforts to shed their reputations as global climate laggards.