The UAE and Saudi Arabia are entering a new phase of co-operation.

The two countries announced a seven-point co-operation plan this week on money management for children, natural crises emergency plans and, perhaps most interestingly, a joint cryptocurrency.

The move is the latest sign of strengthening ties between the two, and should open the door for easier business relations. It also strengthens the bond between the two countries as they look to face regional challenges in unity.

We explain the deal in this week's episode of Beyond the Headlines.