The talks between Israel and the United Arab Emirates for a robust trade deal are advancing successfully and a signing ceremony will be held next year.
This was disclosed by Israel’s new ambassador to the UAE, Amir Hayek, while talking to the state news agency.
Hayek said that the Comprehensive Economic Partnership Agreement (CEPA) will be signed within the nine-month timeframe.
During the interview, he said that the sky is the limit in relations with the UAE, adding that the CEPA is vital for enhancing the bilateral trade ties.
Hayek’s interview comes as the Federation of Israeli Chambers of Commerce has projected that trade between the UAE and Israel could surge to $1.5 billion by the end of this year. The FICC sees this trade volume at over $5 billion within two to three years.
In the meantime, the president of the UAE-Israel Business Council said that the number of Israeli companies operating in the UAE is expected to double within a year.
In July, Dorian Barak, who is also the founder of Indigo Strategic Partners, said that he expects over 1,000 Israeli companies to be active in the UAE by next July. He said the coronavirus pandemic could be the only hurdle in enhancing bilateral economic ties.
Meanwhile, the UAE’s Economy Minister Abdulla Bin Touq has said that his country is seeking to grow economic ties with Israel to more than $1 trillion over the next decade.
Speaking at a virtual conference from the US, he said that the UAE has signed over 60 memorandums of understanding (MoUs) with Israel since normalising relations in 2020.
He added that currently, the UAE and Israel are engaged in up to $700 million dollars of bilateral trade and both sides have already announced joint funds of billions of dollars.
Earlier this month, the UAE also announced plans to strengthen its trade ties with the fast-growing economies in Asia and Africa.
The opening round of Norway Chess 2026 delivered high drama, surprise results and intense Armageddon battles as some of the world’s biggest chess stars clashed in Oslo.
The biggest shock of the day came when Alireza Firouzja defeated World No 1 Magnus Carlsen in classical play, handing the hometown hero a painful opening-round loss.
Carlsen appeared in control for much of the encounter, but severe time pressure proved costly. A late mistake allowed Firouzja to seize the initiative and convert his advantage with precision, giving the French grandmaster the only classical win in the men’s tournament and the early lead in the standings.
Indian star Praggnanandhaa Rameshbabu battled Wesley So to a balanced classical draw before dominating the Armageddon tiebreak with aggressive attacking play to secure extra points.
Meanwhile, reigning World Champion Gukesh Dommaraju survived a difficult endgame against German grandmaster Vincent Keymer. Keymer held a near-winning position for large parts of the game, but Gukesh produced stubborn defensive resistance to force a draw before bouncing back to win the decider.
The women’s tournament also opened with a major upset as Bibisara Assaubayeva defeated Indian No. 1 Humpy Koneru in classical chess. Assaubayeva handled the middlegame complications confidently and converted her advantage smoothly to emerge as the early tournament leader.
Anna Muzychuk and Zhu Jiner played out a tense classical draw before Zhu claimed victory in Armageddon.
In another closely watched matchup, Women’s World Champion Ju Wenjun pressed hard for victory against rising Indian talent Divya Deshmukh, but the classical game ended level. Divya then impressed in the Armageddon playoff, securing a memorable tiebreak victory.
Held from May 25 to June 5 in Oslo, Norway Chess 2026 features two elite six-player tournaments running simultaneously, Norway Chess and Norway Chess Women, both using a double round-robin format with equal prize funds.
One of the tournament’s unique features remains its Armageddon system, where drawn classical games are immediately followed by a tiebreak game to ensure every round produces a winner.
After an explosive first day filled with upsets, comebacks and fighting chess, the tournament has already set the stage for a thrilling edition in Oslo.
In a major humanitarian initiative announced ahead of Eid Al Adha, the UAE has approved the cancellation of accumulated interest and profit charges on loans owed by low-income retirees across the country.
The financial relief package, launched under the directives of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and closely followed by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, is being implemented by the Defaulted Debts Settlement Fund in partnership with several UAE banks.
Valued at more than Dh834 million, the initiative is designed to ease financial pressures on 2,339 senior citizens while strengthening social stability and supporting family wellbeing across the country.
The initiative specifically targets Emirati retirees aged 50 and above who fall within limited-income categories.
Under the mechanism announced, participating banks will waive future interest and profit charges on outstanding loans while beneficiaries continue repaying only the original loan amount through flexible payment schedules.
Among the banks contributing to the initiative, Abu Dhabi Commercial Bank Group accounted for the largest share at Dh655 million, followed by First Abu Dhabi Bank with Dh150 million. Abu Dhabi Islamic Bank contributed Dh18.5 million, while Emirates NBD Group and Emirates Islamic Bank jointly provided Dh6.7 million.
Other participating institutions included Dubai Islamic Bank with Dh2.3 million, Commercial Bank of Dubai with Dh792,000, Sharjah Islamic Bank with Dh716,000 and the National Bank of Ras Al Khaimah with Dh566,000.
Officials confirmed that beneficiaries will be contacted directly by participating banks and financial institutions regarding the implementation process and revised repayment arrangements.
Mosques and Eid prayer grounds across the UAE are preparing to welcome thousands of worshippers as expected. Eid Al Adha prayer timings have been revealed across the country.
According to preliminary astronomical calculations, Eid prayers are likely to begin between 5:39am and 5:50am on the first morning of Eid Al Adha, following the traditional Islamic practice of holding prayers shortly after sunrise.
Abu Dhabi is expected to hold Eid prayers at around 5:50am, while worshippers in Dubai and Al Ain are anticipated to gather at 5:45am. Prayer timings in Sharjah and Umm Al Quwain are expected at 5:43am, Fujairah at 5:41am, Ras Al Khaimah at 5:40am and Ajman at approximately 5:39am.
Authorities have completed preparations at hundreds of mosques and open-air prayer grounds across the Emirates to accommodate the large crowds expected during the holiday.
Abu Dhabi timings
In Abu Dhabi, some of the main Eid prayer venues include Musalla Al Mushrif, Bani Yas Musalla, Mohammed bin Zayed City Musalla and the iconic Sheikh Zayed Grand Mosque.
Dubai will also host large congregations at several designated prayer grounds, including Nad Al Hamar Musalla, Al Warqa Musalla, Jumeirah Musalla and Sheikh Rashid bin Saeed Mosque in Zabeel.
Meanwhile, Sharjah authorities have identified major Eid prayer locations such as Al Badee Musalla, Al Gharb district Musalla and Al Khan Musalla, along with prayer sites on Abu Musa Island.
Worshippers observe several Sunnah traditions before attending the Eid prayers. These include bathing, wearing clean or new clothes, reciting takbeer while travelling to prayer grounds and delaying meals until after prayers and sacrificial rituals are completed.
Authorities across the UAE have stepped up preparations for the festive period, increasing services at mosques, public parks, shopping areas and recreational facilities ahead of the holiday rush.