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Emirates

Houthi militias hijack UAE-flagged cargo ship off coast of Al Hudaydah: Coalition Forces

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RIYADH, 3rd January, 2022 (WAM) — The terrorist Houthi militias hijacked a UAE-flagged cargo ship off the coast of Al Hudaydah Governorate on Sunday, Official Spokesperson of the Coalition to Restore Legitimacy in Yemen, Brigadier General Turki Al Malki, announced.

"At (23:57) on Sunday (2nd January 2022), the Cargo Ship (RWABEE) sailing under the flag of the United Arab Emirates was targeted through 'piracy and hijacking' while sailing off the coast of Al Hudaydah Governorate," the Spokesperson was quoted by Saudi Press Agency (SPA) as saying.

The ship was conducting a maritime mission from the Island of (Socotra) to (Jazan) Port. It was carrying medical field equipment, that were used to operate the Saudi Field Hospital in the Island. The Field Hospital has concluded its mission following the establishment of a hospital on the Island.

Al Malki added that the ship’s field hospital equipment cargo includes ambulances, medical equipment, communication devices, tents, a field kitchen, field laundry units and technical and security support equipment.

"This act of Piracy by the terrorist Houthi militia is a credible threat that highlights the danger of the terrorist Houthi militia on the freedom of navigation and international trade in the South Red Sea and Bab Al-Mandab Strait.

"The terrorist Houthi militia will bear full responsibility as a result of its criminal act of Piracy against the ship, which violates the customary International Humanitarian Law, the San Remo Manual on Armed Conflicts at Sea and the United Nations Convention on the Law of the Sea (UNCLOS).

"The militia must promptly release the ship, or the Coalition Forces will undertake all necessary measures and procedures to handle this violation, including the use of force if necessary," the Spokesperson concluded.

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Emirates

Mohamed bin Zayed meets with President of Iraq’s Kurdistan Region

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ABU DHABI, 25th January, 2022 (WAM) — His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has met with Masrour Barzani, Prime Minister of the Iraqi Kurdistan Regional Government.

During the meeting held at Qasr Al Bahr, Sheikh Mohamed and Barzani discussed the cooperation and relations between the UAE and Iraq, particularly the Kurdistan Region, across various economic, investment, development and humanitarian fields.

They also exchanged views on developments in the Middle East and efforts to achieve peace, stability and prosperity for its peoples towards a better future founded on cooperation and coexistence.

Barzani expressed his condemnation of the terrorist attack carried out by the Houthi militia on civil areas and facilities in the UAE, and said that it is a serious violation of international laws and norms and a grave threat to regional security.

He also emphasised the importance of aligning international stances to put a stop to this militia and any other terrorist groups and their supporters.

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Emirates

Mohamed bin Zayed receives King Hamad of Bahrain, discusses UAE-Bahrain relations

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ABU DHABI, 25th January, 2022 (WAM) — His Majesty King Hamad bin Isa Al Khalifa of Bahrain arrived in the UAE today on a visit to the country.

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received King Hamad upon his arrival at the Presidential Terminal at Abu Dhabi International Airport.

During the meeting held at Qasr Al Bahr, Sheikh Mohamed and King Hamad exchanged cordial talks that embody the depth of the deep-rooted brotherly relations between the UAE and the Kingdom of Bahrain, and ways to enhance them to drive sustainable development in their countries and achieve the aspirations of their peoples and serve their mutual interests.

His Highness Sheikh Mohamed also conveyed to King Hamad the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and his sincere wishes for health and happiness, and wellbeing and prosperity to the kingdom and its brotherly people.

They also exchanged views on several Gulf, regional and international issues of mutual concern, and discussed the latest developments with regard to the terrorist attack that targeted civil areas and facilities in the UAE and the measures taken by the UAE in response to this cowardly attack, which violates all international laws and norms and human values.

His Majesty King Hamad expressed the Kingdom of Bahrain’s condemnation and denunciation of the terrorist attack carried out by the Houthi militia, stressing the Kingdom’s support for the UAE against all threats to its sovereignty, security and stability.

He also reiterated the Kingdom's solidarity with the UAE and its full support of all measures taken by the UAE to counter the Houthi militia's attacks and ensure the safety of its citizens and residents, adding that any attack on the UAE is considered an attack on Bahrain.

Furthermore, King Hamad underscored the support shown by many countries for the UAE in light of the terrorist attack, which evidences the UAE's stature in the international community. He commended the UAE's successful efforts, which contributed to the issuance of the United Nations Security Council’s unanimous decision condemning the Houthi militia's terrorist attack and affirming the UAE’s legal right to defend its sovereignty, security, stability and interests.

King Hamad also expressed his wished continued peace and security for the UAE, and extended his best wishes to President His Highness Sheikh Khalifa bin Zayed Al Nahyan His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, wishing further prosperity and progress to the UAE and its people.

The meeting was attended by H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, H.H. Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi Ruler’s Representative in Al Ain Region, H.H. Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of the Zayed Charitable and Humanitarian Foundation; H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Sheikh Sultan bin Hamdan bin Zayed Al Nahyan, UAE Ambassador to Bahrain.

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Dubai Mercantile Exchange gained oil producer confidence, consolidated its position as region’s most reliable source of oil pricing: Maktoum bin Mohammed

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DUBAI, 25th January, 2022 (WAM) — H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, affirmed that the Dubai government provided all support needed for the growth of the financial markets operating in the Emirate through developing legislatives framework and infrastructure to allow exchanges to consolidate their presence regionally and globally.

Sheikh Maktoum added that Dubai Mercantile Exchange (DME) was able to gain the confidence of major oil producers and consolidate its position as the most reliable source of oil pricing in the region.

During the meeting, Sheikh Maktoum praised the achievements of DME during the last stage, marking that the successful exchange strategy contributed in the growth of trading volume and enhanced its ability to benefit from the steady growth of crude oil trading in the Middle East and Asia regions.

H.H. Sheikh Maktoum reviewed with the DME board of directors the latest regional and global developments in the sector, especially during the rapid changes experienced by the energy market, and the great growth opportunities that it holds.

Also, Sheikh Maktoum reviewed the qualitative achievements of DME during the last period, as the number of companies using the exchange platform for physical delivery reached 60 companies, and the number of barrels of oil delivered through the DME mechanism reached 2.5 billion barrels. An equivalent of 17 billion barrels was traded, while the number of barrels of oil that are priced according to the Oman Crude Oil Futures Contract on a daily basis is 5.2 million barrels.

DME lists the Oman Crude Oil Futures Contract (DME Oman) as its flagship contract, providing the most fair and transparent crude oil benchmark for the region. DME Oman is the explicit and sole benchmark for about 170 million barrels of crude oil per month since 2018, after it was limited to pricing about 30 million barrels per month.

The meeting was attended by Ahmad Sharaf, Chairman and Dubai Holding independent rep.; Nasser Al Jashmi, Secretary-General of Oman's Ministry of Finance; Abdullah Al Harthy, Under-Secretary of Oman's Ministry of Finance, Derek Sammann, Senior Managing Director and Global Head of Commodities, Options and International Markets, CME Group, and Raid Al Salami, DME Managing Director.

DME Oman is pricing more than 170 million barrels of crude oil per month since 2018 compared to around 30 million barrel per month prior to Saudi, Kuwait and Bahrain switch. The contract is regarded as the most reliable crude oil futures price benchmark, due to the quality of Oman Blend, which represents the majority of the GCC crude oil grades.

DME is the first operator of international energy futures and commodities exchange in the Middle East. The company focuses on bringing fair and transparent price discovery and efficient risk management regulated by the U.S. Commodity Futures Trading Commission (CFTC) and is a recognised body by the Dubai Financial Services Authority (DFSA) thus, addresses the growing market need for price discovery of sour crude oil.

DME is a joint venture between Dubai Holding, Oman Investment Authority and CME Group. In addition to its core shareholders, global financial institutions and energy trading firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell, and Vitol have taken equity stakes in DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.

DME is located within the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services within the UAE. DME is regulated by the Dubai Financial Services Authority and all trades executed on DME are cleared through and guaranteed by CME Clearing. CME is regulated by the U.S. Commodity Futures Trading Commission (CFTC) and is a Recognised Body by the DFSA.

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