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☆ Dubai weather: A year’s worth of rain plunges city underwater
▼ + stars: | 2024-04-16 | by ( Mary Gilbert | Brandon Miller | ) edition.cnn.com time to read: +2 min

CNN —A year’s worth of rain unleashed immense flash flooding in Dubai Tuesday as roads turned into rivers and rushing water inundated homes and businesses. Shocking video showed the tarmac of Dubai International Airport – recently crowned the second-busiest airport in the world – underwater as massive aircraft attempt to navigate floodwaters. A vehicle drives through deep floodwaters in Dubai, United Arab Emirates, Tuesday. Jon Gambrell/APDubai – like the rest of the United Arab Emirates – has a hot and dry climate. Cars drive through a flooded street in Dubai, United Arab Emirates, Tuesday.

Persons: Dubai International Airport –, Jon Gambrell, United Arab Emirates –, Abdel Hadi Ramahi Organizations: CNN, Dubai International Airport, “, United Arab Emirates, United Nations, AP Dubai –, United Locations: Dubai, United Arab, Gulf of Oman, Oman, Iran

[1/3] Richard Teng, head of the Middle East and North Africa for crypto firm Binance gestures as he speaks during an interview with Reuters in Dubai, United Arab Emirates, March 30, 2022. Teng faces an especially tough task in transforming the culture of Binance, four of the people said. Still, leading a cultural shift at Binance - a firm shaped by Zhao in his own image - would be "hugely difficult," she said. For years it dominated the crypto market, but this year has rapidly lost market share. Last month it controlled 32% of crypto spot and 50% of derivatives trading, according to crypto firm CCData, down from 55% and 62% respectively in January.

Persons: Richard Teng, Abdel Hadi Ramahi, Teng, Changpeng Zhao, Janet Yellen, Binance, Carol Alexander, Zhao, Yi He, Binance's, Simon Matthews, Richard, Matthews, FinCEN, John Reed Stark, Rajeev Bamra, OKX, Joseph Edwards, Tom Wilson, Elizabeth Howcroft, Elisa Martinuzzi, Louise Heavens Organizations: Reuters, United Arab Emirates, REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, Treasury, University of Sussex, Investors, Treasury's, Internet Enforcement, Singapore, Abu, Abu Dhabi Global, Singapore Exchange, Moody's Investors Service, Securities, Thomson Locations: East, North Africa, Dubai, United Arab, U.S, Abu Dhabi, France, Seychelles, London

☆ Emirates, Ethiopian edge towards Airbus deals after Dubai talks
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

[1/2] Emirates airliners are seen on the tarmac in a general view of Dubai International Airport in Dubai, United Arab Emirates January 13, 2021. Picture taken through a window. REUTERS/Abdel Hadi Ramahi/File Photo Acquire Licensing RightsDUBAI, Nov 15 (Reuters) - Emirates moved closer on Wednesday towards a potential agreement to buy dozens of Airbus (AIR.PA) A350-1000 jets after narrowing differences over performance and guarantees in talks with engine maker Rolls-Royce (RR.L), industry sources said. Ethiopian Airlines was set to announce an order for around 10 of the smaller A350-900 after talks with Rolls-Royce at the Dubai Airshow that focused on service pricing, they said. Reporting by Alexander Cornwell, Pesha Magid, Editing by Tim HepherOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdel Hadi Ramahi, Royce, Alexander Cornwell, Pesha, Tim Hepher Organizations: Emirates, Dubai International, United Arab Emirates, Rights, Airbus, Royce, Ethiopian Airlines, Dubai Airshow, Thomson Locations: Dubai, United Arab, Rights DUBAI

Emirates airliners are seen on the tarmac in a general view of Dubai International Airport in Dubai, United Arab Emirates January 13, 2021. He told reporters Emirates would be prepared to order between 35 and 50 of the jets if Rolls-Royce improved both the durability and maintenance costs. Reuters reported on Monday that an order from Emirates for the largest version of the A350 appeared to be on hold over terms of engine guarantees with Rolls-Royce. With plans for an Emirates A350 order off the table for now, Airbus also saw a second major order from Turkish Airlines (THY) (THYAO.IS) slip off the show's agenda, industry sources said. Airbus said on Monday it had reached agreement "in principle" on a significant THY order.

Persons: Abdel Hadi Ramahi, Royce, Tim Clark, Christian Scherer, Trent XWB, Tim Hepher, Alexander Cornwell, Tom Hogue, Jason Neely Organizations: Emirates, Dubai International, United Arab Emirates, Rights, Airbus, Dubai, Boeing 777X, Royce, Reuters, GE, Boeing, Turkish Airlines, Thomson Locations: Dubai, United Arab, Rights DUBAI, Emirates, Egyptair, East, India

Bets on oil prices moving up from here are at their highest level since Russia's 2022 invasion of Ukraine, CME options market volatility data shows. Average daily volumes in energy options of the CME exchange overall are the highest since an all-time record in 2018. "The aftermath of the attacks and rising Middle East tensions did not impact oil prices as many investors expected, including ourselves," Unigestion multi-asset portfolio manager Sandrine Perret said. Reuters Graphics3/ DEFENCE STOCKSA gauge of defence stocks compiled by index provider MarketVector (.MVDEF) is 8% higher in the four weeks since the conflict began. It's also near eight-year highs versus the euro and therefore another asset class attracting questions about how it would perform if Middle East tensions are resolved.

Persons: Abdel Hadi Ramahi, Israel, Sandrine Perret, Derek Sammann, Gold, Jeff, Mikhail Zverev, Ron Temple, It's, Francesca Fornasari, Fornasari, Elisa Belgacem, Brent, Naomi Rovnick, Marc Jones, Dhara Ranasinghe, David Evans Organizations: United Arab Emirates, REUTERS, U.S White, Aegon, Reuters, Global, Defence, Lazard Asset Management, Swiss, Insight Investment, Generali Investments, Thomson Locations: Dubai, United Arab, Hamas, Israel, Gaza, Ukraine, Jordan, Egypt, China, Taiwan, Europe

John Kerry, U.S. Special Presidential Envoy for Climate speaks during an earlier interview with Reuters, in Abu Dhabi, United Arab Emirates, on October 31, 2023. REUTERS/Abdel Hadi Ramahi/File Photo Acquire Licensing RightsSINGAPORE, Nov 10 (Reuters) - The United States and China have reached "understandings and agreements" on climate issues that will help ensure progress is made at the COP28 talks starting late this month in Dubai, U.S. climate envoy John Kerry said on Friday. China envoy Xie told diplomats in September that phasing out fossil fuels was "unrealistic" while key technologies like energy storage remained immature. China now has 360 gigawatts of coal-fired power capacity in its project construction pipeline, he said, but "they're trying very hard to move away." Right now, "it is irresponsible to be funding a coal-fired power plant anywhere in the world," he said.

Persons: John Kerry, Abdel Hadi Ramahi, Kerry, Xie Zhenhua, Xie, David Stanway, Tom Hogue Organizations: Reuters, United, REUTERS, Rights, Bloomberg, Economy, Thomson Locations: Abu Dhabi, United Arab Emirates, Rights SINGAPORE, United States, China, Dubai , U.S, Sunnylands , California, Singapore, COP28

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. "Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn." In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more". "Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated." Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.

Persons: Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton Organizations: United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson Locations: Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London

☆ UAE museum unveils Torah scroll that survived the Holocaust in tolerance push
▼ + stars: | 2023-01-29 | by ( Bushra Shakhshir | ) www.reuters.com time to read: +3 min

[1/6] Visitors attend an event commemorating the Holocaust, in which a 16th century Torah scroll that survived the Holocaust was officially unveiled, at Crossroad of Civilizations Museum, in Dubai, United Arab Emirates, January 28, 2023. Ahmed Obaid Al Mansoori, founder of the Crossroads of Civilizations Museum in Dubai's historic district, said the display, unveiled for International Holocaust Remembrance Day would help combat "big denial" of the Holocaust in the region. The scroll is on permanent loan to the museum from the Memorial Scrolls Trust, which looks after more than 1,000 Czech scrolls saved from the Holocaust and later sent to London. "I lived in the Arab world when I was young, and the term Holocaust does not exist ... Reporting by Bushra Shakhshir and Abdel Hadi Ramahi; Writing by Ghaida Ghantous Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

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