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Brent crude climbed back over $105 a barrel amid warnings of expanding conflict between the United States and Iran. Maritime risks mounted following a fatal commercial ship strike in the Strait of Hormuz and threats to Red Sea energy routes. Diplomatic discussions during the United Nations General Assembly have produced little sign of a peace deal.
The UAE will resolve visa complexities and resume issuing all visa types, including tourist visas, for Bangladeshi nationals between January and mid-February 2025, according to UAE Ambassador Abdullah Al Hamoudi. The announcement was made during a reception in Dubai welcoming Bangladesh's new ambassador, Mushfiqul Fazal Ansarey. The report notes that over 1.2 million Bangladeshi nationals currently reside in the UAE.
The Competition Commission of Pakistan has approved the acquisition of shares in Masood Textile Mills Limited by UAE-based Velora Global Ventures from two Chinese investors. The transaction involves equity held by Shanghai Challenge Textile and Zhejiang Xinao Industry under a July 2026 agreement. Regulators concluded the Phase-I review found no adverse impact on market competition.
Chinese motorcycle manufacturer GWM SOUO has opened its first showroom outside China in Dubai in partnership with exclusive UAE distributor N S Lootah Motors. The showroom introduces the S2000 CL luxury touring motorcycle, equipped with a 1,999cc horizontally opposed eight-cylinder engine. The Dubai base is intended to serve as the launchpad for SOUO's wider regional expansion across the Gulf.
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