From Opec exit to industry push, the country chooses speed over hesitation
“We will continue without halt or rest, for halting is a waste of time.”
A famous quote by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, that feels very fitting in the current circumstances.
With all of the variables, changes and issues across the world right now, it is possible to feel paralysed by the uncertainty. But that simply isn’t how life or business is done here, as the country has proven time and time again.
Things move fast in the United Arab Emirates and the country waits for no-one. After the announcements of major infrastructure improvements, such as Dubai’s underground Gold Line, the leadership has now revealed the nation will be leaving Opec from today.
The conflict and the blockade of the Strait of Hormuz has impacted the GCC and wider world in various ways, but the UAE isn’t waiting around for someone else to solve the problems. The country is taking the initiative and readying itself for the opportunities that always come with change, ensuring it is in pole position to benefit.
We have had a lot of ‘explainer’ articles on the Opec decision to give you the details on why it has been made and what it will mean for the future of the UAE, oil prices and the region. Justin Varghese, our vastly experienced business editor, has done an excellent job of getting to the heart of the matter.
As he described yesterday, this is about moving from a quota-bound coordination to a capacity-led strategy that will bring more scale, flexibility and (that word again) speed. The situation in the Strait may mask any instant impact but there is a very bright future for the oil industry and economy.
With all of this in mind, we are excited to be at Make it in the Emirates in Abu Dhabi next week. The event is all about what the UAE excels at: bringing great people together from across industries to collaborate - speeding up decisions and growth opportunities. Speed seems to be at the heart of most things right now.
This is a truly dynamic economy where people move quickly to adapt to changing markets, to find new opportunities and to form relationships. We’ll be reporting from inside the event on how industries are continuing to accelerate with videos, articles and interviews across our platforms over the coming days.
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We know with change can come tough decisions as well. We know that some readers may be going through difficult and uncertain moments in the current circumstances. We see ourselves as a loyal friend, so we are determined to be a helpful service, as well as a provider of news.
That’s why I am delighted that we have launched our Best Buys Discount Codes to give you, our readers and friends, the biggest savings on the best products in the market.
It’s really simple to use. All you need to do is to get a code from our Best Buys section on our website or app and use them in the online baskets of the companies selling the products. There are already good discounts to be had, but we are working hard to get even bigger deals.
You will also see codes popping up across our social media channels, including Instagram and Facebook. It drives me mad when discount codes don’t work, so we’re making sure they are checked and verified before they go live. Keep a look out for the next great deal over the weekend. We’ll have more going live all of the time.
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