Credit: © European Union, 2024 / Jennifer Jacquemart, via Wikimedia Commons. Licensed under CC BY 4.0.
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Morning. Lana Nusseibeh, the UAE’s minister of state and former UN ambassador, could enter the race to succeed António Guterres as secretary-general as early as this week, the Financial Times reports.
The newspaper says her supporters are sounding out UN missions for backing. Her name did not appear on the UN’s published list of nominated candidates on Wednesday.
Subscribe to Emirates Wire for weekday briefings on the UAE and its neighbours, with a longer read on Saturday.
The Security Council hurdle
Nusseibeh represented the UAE at the UN from 2013 to 2024. She led its mission during the country’s 2022–23 term on the Security Council.
Every candidate received at least one negative vote from a permanent member in last Friday’s informal Security Council poll, according to The Times of Israel, which reported on the agency. The poll tested support without eliminating candidates.
The General Assembly appoints the secretary-general on the Security Council’s recommendation. A candidate needs nine votes in the Council and must avoid a veto from any of its five permanent members: Britain, China, France, Russia and the US.
On X, Nicholas Kristof questioned the prospect of an Emirati candidate, citing allegations that the UAE supplies arms to Sudan’s Rapid Support Forces. The UAE denies providing military support to the group.
Trade negotiations and an energy task force
President Sheikh Mohamed bin Zayed hosted Singapore’s Prime Minister Lawrence Wong in Abu Dhabi on Wednesday. The two sides opened negotiations on a Comprehensive Economic Partnership Agreement to improve market access and investment.
The governments established a Joint Energy Taskforce to explore cooperation in energy trading, infrastructure and refining. Other agreements cover energy, water and health.
The leaders welcomed Temasek’s plan for an Abu Dhabi office. The Singapore investment company announced the plan on 30 September, alongside an office in Riyadh, and expects both to open in the first half of 2027, subject to approvals.
Their joint statement affirmed freedom of navigation and transit passage under the UN Convention on the Law of the Sea. It did not name Iran or the Strait of Hormuz.
Two tanker incidents as diplomatic efforts continue
An unknown projectile struck a tanker about 11 nautical miles west of Bukha, Oman, early Wednesday, according to UK Maritime Trade Operations. The resulting fire was extinguished, the vessel was at anchor, and all crew were reported safe.
The Associated Press reported a separate projectile strike on a tanker off Al Faw, Iraq, also citing the maritime agency. Its crew was safe, with no reported damage or environmental impact. Neither report identified who launched the projectiles.
Iran’s foreign minister Abbas Araghchi wrote in the Financial Times that Tehran was willing to give diplomacy another chance, according to the Associated Press. He warned that Iran was prepared to defend itself if full-scale fighting resumed.
Emmanuel Macron made an unannounced visit to Saudi Arabia on Wednesday. His office said he was there to show solidarity and continue efforts to secure oil and gas supplies.
Brent closed on Tuesday at $108.79 a barrel. That compares with $109.55 on Monday.
Lilly plans to package weight-loss medicines in Abu Dhabi
Eli Lilly and Mubadala Bio have agreed to bring packaging and logistics for Lilly’s weight-loss and diabetes medicines to Abu Dhabi. Mubadala Bio’s deputy chief executive, Hamad Almarzooqi, told The National that the UAE would package Mounjaro and the oral medicine Foundayo for distribution across the region and beyond.
The work will use a 125,000-square-metre site in Khalifa Economic Zones, Abu Dhabi. MEED reports that it will begin in phases, subject to technical, quality and regulatory requirements. The deal value and first-phase timetable were not disclosed, and the agreement does not cover production of the medicines’ active ingredients.
Investors press DIP to improve its listing terms
Some prospective investors want DIP Holding, owner of Dubai Investments Park, to lower its valuation or offer higher payouts ahead of its initial public offering, Bloomberg reports. No final valuation has been agreed.
Banks have pitched valuations of Dh11 billion to Dh14 billion before any listing discount, according to people familiar with the discussions. These estimates value the company as a whole; they are not an announced share-price range.
Dubai Investments, DIP’s sole shareholder, would consider a discount, its chief executive Khalid bin Kalban told Bloomberg. He rejected comparisons with developers such as Emaar, arguing that DIP’s rental business was less cyclical.
DIP leases land for logistics, commercial and industrial uses to tenants, typically on long-term contracts. Dubai Investments plans to sell a 20% stake, with subscriptions starting on 27 October and trading expected to begin on 11 November.
Five Dubai roads get new speed limits
Dubai’s Roads and Transport Authority and Dubai Police have announced changes from 1 November. They apply in both directions on the specified stretches.
Al Asayel Street: 60 to 80km/h, between Oud Maitha Street and Al Meydan Street.
Al Mustaqbal Street: 60 to 70km/h, between Sheikh Rashid Street and Al Meydan Street.
Latifa bint Hamdan Street: 60 to 70km/h, between Sheikh Zayed Road and Al Khail Road.
Al Rebat Street: 90 to 100 km/h, between Marrakech Street and Sheikh Mohammed bin Zayed Road.
Sheikh Sabah Al Ahmad Al Jaber Al Sabah Street: 70 to 80 km/h, between 2nd December Street and Khalid bin Al Waleed Street.
Signs and speed cameras will be updated before the changes take effect. The higher limits do not apply until 1 November.
Saudi flights: check the individual departure
Gulf News reported Emirates cancellations to Riyadh, Dammam and Jeddah on Wednesday. Flydubai cancelled flights to Riyadh, Dammam and Abha.
On Wednesday, Flightradar24 listed Thursday’s Emirates flights EK817 to Riyadh and EK801 to Jeddah, and flydubai’s FZ811 to Abha, as cancelled. Etihad’s notice lists all Riyadh and Dammam services as cancelled through Saturday 24 October, together with Jeddah flights EY601, EY602, EY603 and EY604.
Check your flight directly with the airline before leaving for the airport. A timetable listing alone does not confirm that a service has resumed.
Federal ministry investigates the odour
The Ministry of Climate Change and Environment says its assessments have found “no indications of concern” over the unusual odour reported in parts of the UAE. Its statement follows the police reassurance but does not identify a cause.
The ministry says it is working with local authorities to identify the smell and its source. It will continue monitoring and issue guidance if precautions become necessary.
What I am watching
I am watching for any formal nomination of Nusseibeh and the next steps in the Singapore trade negotiations. I also want to see the ministry explain what caused the odour.
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