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UAE-Israel trade deal to be signed next year: Envoy

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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.

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Will UAE petrol prices rise in August? Here’s what we know

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UAE motorists won’t have long to wait to find out whether fuel prices will increase in August, with the Fuel Price Committee set to announce the new rates on Thursday, July 31.

The revised petrol and diesel prices will take effect from August 1.

Will fuel prices go up?

After a welcome price cut in July, the outlook for August is less certain.

Global oil prices initially fell below $70 a barrel earlier this month, raising hopes of another reduction. However, prices have since rebounded sharply, clouding the picture for motorists.

Brent crude briefly climbed above $100 a barrel, while US benchmark WTI rose to nearly us$92. Abu Dhabi’s Murban crude also surged past us$105, reflecting renewed strength in global energy markets.

Because UAE fuel prices are based on average international oil prices over the month, the late-July rally could limit or even reverse last month’s cuts.

Current UAE fuel prices

Motorists are currently paying:

  • Super 98: Dh3.40 per litre
  • Special 95: Dh3.29 per litre
  • E-Plus 91: Dh3.21 per litre
  • Diesel: Dh3.60 per litre

These rates were introduced in July after global oil prices eased earlier in the summer.

How UAE fuel prices are set

The UAE reviews petrol and diesel prices every month based on average global crude oil and refined fuel prices.

The August rates will be announced on July 31 through official government channels and will come into effect the following day.

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UAE traffic fine: Why leaving your engine idling can cost you Dh500

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Abu Dhabi Police are urging motorists to switch off their engines and take their keys whenever leaving their vehicles, warning that even brief stops can increase the risk of theft, fires and other safety hazards.

The advisory applies to drivers stopping at shops, petrol stations, ATMs or mosques, where some motorists continue to leave vehicles unattended with the engine running.

Safety risks

Police said leaving a running vehicle unattended creates an opportunity for theft and could also lead to mechanical problems or fire-related incidents.

Motorists were also reminded never to leave children, especially infants, inside a running vehicle, describing the practice as a serious threat to their safety.

Traffic laws

Abu Dhabi Police also highlighted that UAE traffic laws prohibit leaving an unattended vehicle with its engine running.

Drivers who fail to comply with traffic rules and official instructions can face a Dh500fine under the Federal Traffic Law.

Authorities urged motorists to adopt safe habits by turning off the engine, removing the key and locking the vehicle every time they step away, no matter how briefly.

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Dubai Airports unveils smart gate pre-check for passengers

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Passengers travelling through Dubai International Airport (DXB) can now check if they’re eligible to use Smart Gates before reaching passport control.

Dubai Airports has introduced the new Smart Gates Pre-Eligibility Verification service in partnership with the General Directorate of Identity and Foreigners Affairs (GDRFA) to make immigration faster and reduce waiting times.

How it works

Travellers can instantly verify their Smart Gate eligibility through the Pocket Flights platform or by scanning QR codes placed across airport terminals and boarding gates.

The service lets passengers know in advance whether they can use the automated passport gates, helping them avoid uncertainty at immigration.

Faster airport experience

Dubai Airports says the new feature is part of its ongoing efforts to streamline passenger journeys and improve the overall airport experience.

By allowing travellers to confirm eligibility before reaching passport control, the airport aims to speed up immigration processing and make travel through DXB more seamless for millions of passengers each year.

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