DP World mobilizes $1 billion in working capital to boost trade flow
Dubai, UAE — DP World Trade Finance has mobilized more than US$1 billion in working capital to support businesses across...
Business
Saudi Aramco, BYD form alliance to develop low-carbon automotive innovations amid EV growth
Saudi Aramco, the world's largest producer of oil, "is exploring a number of ways to potentially optimize transport efficiency, from...
- The Saudi oil giant is already a partner with Renault of France and the Chinese automaker Geely in a joint venture to produce thermal engines
- Saudi Arabia is working to diversify its economy, which is dependent on oil export revenue, and wants to set up 5,000 EV charging stations by 2030
Business
DHL to stop global shipments worth over $800 to US consumers
Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from...
- President Trump has launched a wide-ranging trade war, threatening friend and foe alike with steep tariffs to address US trade deficits with individual countries.
- As part of those changes, the government has also lowered the threshold at which parcels to individuals require formal entry processing by US Customs -- down to $800 from $2,500.
Business
Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...
- The precious metal was also helped by a weaker dollar, which has also been hit by worries about Trump's standoff with Fed boss Jerome Powell.
- Stocks had a mixed start to the week, with Tokyo weighed by the stronger yen while Taipei, Jakarta and Bangkok were also in negative territory.
Economy
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
- The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024.
- Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion and imports of $106 billion.
Business
Global tax plans targeting super rich and tech giants stall under Trump
Paris, France -- Global tax plans targeting billionaires and multinational companies are running aground, with the United States torpedoing reforms...
- Countries have accused Amazon, Microsoft, Google owner Alphabet and Facebook's parent company Meta of sidestepping local taxes.
- Trump issued a warning on February 21 to countries that would hit big tech and other US companies with fines or taxes that are "discriminatory, disproportionate".
Business
Anti-hero Star Wars series “Andor” heads towards its finale
Paris, France -- If "Andor" -- which returns from Tuesday for its second and final season -- has been received...
- For Disney, the success of "Andor" stands out as a new hope for a franchise that has become hit-or-miss with audiences in recent years.
- That is why it has banked heavily on the 12-episode story, which cost a staggering $645 million to make, according to Forbes magazine.
Business
Tariffs could lift Boeing and Airbus plane prices even higher
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
- The American and European aerospace giants have grappled with higher expenses for primary materials such as titanium, components and energy, as well as overall labor cost pressures
- To resolve a labor strike, Boeing late last year agreed to a new contract with its Seattle-based machinist union that lifted wages by 38 percent over four years.
Saudi Arabia’s merchandise imports rise 8 percent to $19.34bn in Jan
Riyadh, Saudi Arabia -- Saudi Arabia’s merchandise imports increased 8 percent year-on-year (YoY) to SAR 72.6 billion ($19.34 billion) in...
- Merchandise imports fell by 8 percent, or nearly SAR 6.4 billion, month-on-month (MoM).
- Saudi Ar.abia’s imports came mainly from China in January 2025, at SAR 19.2 billion (26 percent) of the total.
Geostrategy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
- Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
- In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.
Business
Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
- The federal government and more than a dozen US states filed the antitrust suit against Alphabet-owned Google
- It is one of two federal suits targeting Google that could ultimately see the company split up and curb its influence
DP World mobilizes $1 billion in working capital to boost trade flow
Dubai, UAE — DP World Trade Finance has mobilized more than US$1 billion in working capital to support businesses across...
Business
Company News
Aldar nets $953m in sales at Fahid
Geostrategy
Latest News
Trump metal tariffs wreak havoc on US factory
Belcamp, United States -- In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
Business
Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
Business
China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes
Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...
Business
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Business
Roblox’s Grow a Garden explodes online video game numbers
Paris, France -- A gardening game created by a teenager on online platform Roblox has attracted a record 21 million...
- More than 21 million players connected to Grow a Garden at the same time on June 21, buying seeds to cultivate a little patch of virtual land, harvesting crops.
- That shattered the record held by the adrenalin-packed Fortnite, which attracted 15 million concurrent users (CCUs) during an event in late 2020.
Business
Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding
Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...
- Bezos, the world's fourth-richest person, and his former television anchor bride-to-be were seen stepping off a water taxi at the Aman Hotel on the Grand Canal
- Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a guest list rumoured to include Leonardo DiCaprio, Mick Jagger, and Kim Kardashian
Geostrategy
Oil slides, stocks rise as Iran-Israel ceasefire holds
The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of...
- Prices were also brought down by Trump saying that China could continue to buy oil from Iran, in what appeared to be relief from sanctions Washington had previously imposed.
- There was also relief that Iran has refrained from closing the strategic Strait of Hormuz, a chokepoint for about one-fifth of the world's oil supply.