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Abu Dhabi creates $163 million fund for ‘mega-events’

ABU DHABI – Abu Dhabi launched a new 600 million dirhams ($163.4 million) “mega events” fund to finance potential global entertainment partners as part of its strategy to boost tourism and diversify the economy away from oil. The capital of the United Arab Emirates is already spending billions of dollars on industry, tourism and infrastructure […]
Middle East

Britain rejects idea of tanker swap with Iran

LONDON – Britain on Monday rejected the idea that it could release a Iranian tanker in exchange for a British-flagged vessel seized by the Islamic Republic in the Gulf. Tensions have spiked between Iran and Britain since after Iranian commandos seized a British-flagged tanker earlier this month. That came after British forces captured an Iranian […]