UAE Minister of State for Entrepreneurship and SMEs, Dr Ahmed Belhoul Al Falasi, has held wide-ranging talks with the UK Minister for Business, Energy and Industrial Strategy.
Dr Al Falasi and Lord Gerald Edgar Grimstone discussed the implications of the COVID-19 pandemic, Brexit and expanding economic ties during their online meeting.
They also examined diversifying their partnerships in small and medium-sized enterprises and tourism.
Dr Al Falasi highlighted the UAE’s keenness to strengthen cooperation and develop a strategic partnership between the two countries in advanced sectors.
"The tourism sector is one of the drivers of economic development in the UAE and one of the key areas of cooperation between the two countries. The UAE received around 1.4 million visitors from Britain in 2019, and UK citizens accounted for some seven per cent of hotel guests in the UAE during the same year," he said.
Volkswagen's supervisory board has approved a transformation plan on Thursday that will include cutting another 50,000 jobs in its attempt to counter painful tariffs, overcapacity, and aggressive Chinese rivals.
The UAE Ministry of Economy and Tourism has outlined new regulations aimed at strengthening the fight against commercial fraud, protecting consumers and improving market oversight.
Apple is facing a £2 billion ($2.7 billion) London lawsuit brought on behalf of app developers over its app tracking rules, with the iPhone maker accused of abusing its power to unfairly impose greater restrictions on third parties.
Shares in online fast-fashion retailer Shein have fell 8 per cent in their first day of Hong Kong trade on Tuesday, with investors worried about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.
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