Business News from Wednesday, May 20th, 2026
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H.H. Sheikh Hamdan reviews Dubai Customs’ efforts to ensure smooth trade flow
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defence, has reviewed Dubai Customs' efforts to maintain smooth trade and supply chain operations amid global geopolitical developments.
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UK and GCC strike landmark trade deal
Britain said on Wednesday it had secured a trade deal with the Gulf Cooperation Council (GCC) worth $5 billion a year in the long run.
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New UAE pipeline bypassing Hormuz 50% complete, says ADNOC CEO
The UAE’s new crude oil pipeline bypassing the Strait of Hormuz is now 50 per cent complete, as the country accelerates its delivery towards 2027.
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Don't fight AI, HSBC CEO tells staff as banks begin job cuts
HSBC appealed to staff not to fight AI on Wednesday, saying it would destroy jobs while creating new ones, as banking rival Standard Chartered sought to calm workers over comments that the technology would replace "lower-value human capital".
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School fee payments set to become easier under new Tabby partnership
Families in the UAE can pay their children's school or university fees, transport and extra curricular activities in monthly instalments using payment app Tabby.
News
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UAE, Saudi Arabia and allies condemn Israeli minister over flotilla detaineesThe foreign ministers of the UAE, Saudi Arabia, Qatar, Jordan, Egypt, Türkiye, Indonesia and Pakistan have jointly condemned Israeli National Security Minister Itamar Ben-Gvir over the treatment of detainees linked to a Gaza-bound flotilla.
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UAE President joins call with Trump, regional leaders to discuss Iran peace dealUAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has taken part in a joint call with leaders of the US, Bahrain, Qatar, Saudi Arabia, Jordan, Egypt, Turkey and Pakistan to discuss regional developments and efforts to advance diplomatic solutions.
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UAE delegation concludes participation in GLOBSEC Forum 2026 in PragueA high-level delegation from the United Arab Emirates, led by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, concluded its participation in the GLOBSEC Forum 2026, which was held in Prague from May 21-23.
