Shipping tracking data shows three Iran-linked tankers transited the Strait of Hormuz during the initial day of a US blockade targeting vessels calling at Iranian ports. Because the vessels were not sailing to Iranian docks, they were not covered by the maritime blockade. Among the transiting ships was a Chinese-owned tanker carrying methanol loaded at the UAE's Hamriyah port.
A new joint study by CREA and PACS reveals that China has cancelled 67 percent of overseas coal power projects planned prior to its 2021 UN pledge, eliminating 61.5 gigawatts of capacity. The report highlights that operational China-linked renewable generation has now surpassed the potential power output of cancelled coal projects in the UAE, Brazil, and Tanzania. However, researchers warn that private Chinese investments in captive coal power continue to present loopholes.
Alibaba Cloud has announced plans to expand its data center capacity in key international hubs, including the United Arab Emirates. Unveiled at the 2026 Apsara Conference in Hangzhou, the expansion aims to support growing enterprise demand for artificial intelligence workloads.
The UAE Ministry of Finance has issued ministerial decisions detailing reporting and compliance procedures under the OECD/G20 Pillar Two minimum 15 percent tax framework. The rules apply to multinational groups with consolidated revenue of at least EUR 750 million in at least two of the four preceding fiscal years. Guidelines define GloBE Information Return submissions, Federal Tax Authority notifications, and the appointment of local filing entities.
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