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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Osaka Expo 2025 opens: World gathers amidst hope and global tensions

From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
  • Encircling dozens of national pavilions is the Grand Ring -- recognized by Guinness World Records as the planet's largest wooden architectural structure.
  • So far 8.7 million advance tickets have been shifted, below the pre-sales target of 14 million.

Why investors rush to gold in uncertain economic times?

London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
  • On Friday it struck an all-time high of $3227.51 an ounce in trading, handing the commodity a gain of more than 20 percent since the start of the year.
  • In 2024, global central banks together added more than 1,000 tons of gold to their reserves for the third year running, according to the World Gold Council.

Trump admits trade war ‘cost’ as markets hit

Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...
  • Trump acknowledged "a transition cost and transition problems," but dismissed global market turmoil. "In the end it's going to be a beautiful thing."
  • On Wall Street, the broad-based S&P 500 finished down 3.5 percent on Thursday after soaring 9.5 percent the day before. The Dow Jones shed 2.5 percent and the Nasdaq 4.3 percent

European Union and UAE agree to launch trade deal negotiations

Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
  • Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
  • The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.

Iraq signs deal with US firm to produce 24,000 MW of electricity

Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...
  • The signing comes at the conclusion of a visit to Iraq by a high-level US delegation comprising of representatives from 60 private firms.
  • Despite sitting on large reserves of petrol and natural gas, decades of conflict and instability have ravaged Iraq's energy infrastructure.

World Bank approves $1.1 bn in financing for Jordan

The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and...
  • The funding, part of an economic modernization effort, aims to "build socio-economic resilience in the face of continued shocks and crises."
  • The investments cover four projects designed to support inclusive growth and job creation, help start-ups and small businesses

Trump’s new tariffs take effect, with 104% on Chinese goods

US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies...
  • China is the hardest hit, with tariffs imposed on its products since Trump returned to the White House now reaching a staggering 104%
  • Trump said Tuesday his government was working on "tailored deals" with trading partners, prioritizing allies like Japan and South Korea

China vows ‘fight to the end’ as Trump warns 50% more tariffs

China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald...
  • Trump upended the world economy last week with sweeping tariffs that have raised the spectre of an international recession
  • Beijing, Washington's major economic rival, responded by announcing its own 34 percent duties on US goods to come into effect on Thursday

Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
  • Gulf oil producers face indirect hits as tariff fears lower global oil demand and prices
  • Small businesses across MENA confront rising costs, disrupted supply chains, and uncertainty

Stocks sink again as Trump holds firm on tariffs

Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
  • Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.
  • Trillions of dollars have been wiped off combined stock market valuations in recent sessions. Bitcoin tumbled, while the dollar rebounded after sharp losses last week.

Warren Buffett says will retire from Berkshire Hathaway by year’s end

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,

Latest News

The game of ‘chicken’ being played with the world economy can be brought to a cooperative end

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...

Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear

Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...

IMF cuts global growth outlook on impact of Trump tariffs

Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...

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Beijing slams ‘appeasement’ of US in trade deals that hurt China

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures...
  • While the rest of the world has been slapped with a blanket 10 percent tariff, China faces levies of up to 145 percent on many products
  • China has vowed to fight a trade war "to the end" and has not confirmed that it is in talks with Washington, though it has called for dialogue

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.

Trump’s tariffs fallout: Why trade tensions are a ‘storm cloud’ over financial markets

Stocks later rallied after Trump announced a 90-day pause on additional higher tariffs that were set to impact around 80...
  • New US tariffs have upended global trade and caused significant volatility in financial markets
  • In early April, global stock markets plummeted after US President Donald Trump unveiled a new tariff regime