Investors in Israel and the United Arab Emirates are moving to strike deals in a business environment transformed by a diplomatic breakthrough between the two countries. Last week’s surprise move by the U.A.E. The change has the potential to warm ties between Israel and the Arab world and benefit a range of business sectors, from aviation and finance to health and tourism. Emirati billionaire Khalaf Al Habtoor, who owns one of the U.A.E.’s largest conglomerates Al Habtoor Group, said he has launched talks with Israir Airlines Ltd., a domestic Israeli carrier, to open direct commercial flights. He is working with Emirati partners to establish a kind of chamber of commerce or professional organization to formalize bilateral business ties, Mr. Eyal said.

Source: Wall Street Journal August 21, 2020 18:48 UTC