Daily brief
OPEC+ has agreed to keep its current oil production levels unchanged, with a Russian official citing high market volatility due to geopolitical risks. The group's official production quota for February is set to fall by nearly 300,000 barrels per day.
Oil prices dropped as tensions between the US and Iran eased, while flight disruptions in the Middle East are subsiding with KLM resuming routes to the UAE and Tel Aviv.
The UAE's sovereign wealth fund acquired a 49% stake in a cryptocurrency firm previously linked to President Donald Trump.
Sheikh Hamdan bin Mohammed announced a 500-million-dirham project to redevelop Dubai's Umm Suqeim Beach.
Gold and silver prices saw a sharp sell-off in the UAE, which local jewellers attributed to investors taking profits (ongoing coverage).