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Saudi Arabia and the UAE are set to assist Asian nations in expanding their crude oil reserves, Nikkei Asia reported. The two Gulf energy producers are also expected to provide priority crude supplies during emergency situations. The initiative includes exploring agreements to store crude oil in Asian locations to enhance regional energy security.
Official data released by China's Ministry of Industry and Information Technology shows steady growth in the telecommunications sector during the first eight months of the year. The total number of 5G base stations reached 5.195 million by the end of August, while 5G mobile phone subscribers climbed to 1.311 billion. Mobile internet traffic rose 17.3 percent year-on-year to 297.1 billion gigabytes.
The UAE Ministry of Human Resources and Emiratisation has integrated artificial intelligence into work permit workflows, cutting review times to under one minute. Over 11 million transactions were automatically processed, and work-permit quota determinations are now instant. Additionally, predictive risk models guided approximately 212,000 field inspections under the Zero Bureaucracy Programme.
Chinese Premier Li Qiang completed visits to Saudi Arabia and the UAE to strengthen ties across traditional energy, renewable technologies, and electric vehicles. Bilateral trade between China and the UAE reached a record 50 billion dollars in the first half of 2024. Discussions also addressed reviving negotiations for a China-GCC free trade agreement.
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