Policy & Legal Updates

US Senators Demand Sanctions Enforcement on China and UAE Trade Intermediaries

US Senators Jeanne Shaheen and Roger Wicker sent a letter urging the Trump administration to execute new sanctions ahead of an October 18 deadline. The lawmakers called for crackdowns on Russian oil trading intermediaries in Dubai and Hong Kong, as well as transit networks in China and the UAE. They also urged the Treasury Department to target illicit banking channels, specifically naming overseas branches including VTB Bank in Shanghai.

China–UAE News

Investopia Bridge 2026 Opens in Abu Dhabi Highlighting China-Arab Investment

Investopia Bridge 2026 convened in Abu Dhabi under the theme 'Investing in a More Resilient World', drawing ministers, institutional investors, and global business executives. The conference featured dedicated roundtables on China-Arab trade and investment cooperation. Participating entities signed multiple commercial agreements and memoranda of understanding during the summit.

Policy & Legal Updates

UAE Clarifies VAT Recovery Rules for Employee Expenses Under Decision No. 17

The UAE Federal Tax Authority issued Decision No. 17 of 2026 setting conditions for businesses to recover input VAT on employee expenses from 1 October 2026. Separately, the authority released guidance on the Qualified Domestic Minimum Top-up Tax for qualifying multinational groups.

Industry News

China Power Construction Signs EPC Contract for 2,400 MW Saudi Power Plant

China Power Construction has signed an EPC contract in Riyadh for the Rabigh Phase II gas combined cycle power plant in Saudi Arabia. The facility will have a planned capacity of 2,400 MW. The contract encompasses design, procurement, civil installation, grid connection, and testing.