Jordan, Iraq renew crude supply deal

The agreement was signed by the Energy and Mineral Resources Minister of Jordan, Saleh Al Kharabsheh, and the Oil Minister of Iraq, Hayan Abdul Ghani

As per the deal, Jordan will begin importing 10,000 barrels of crude per day for a year, starting from June. and this will cover around 7% of Jordan's daily oil needs

US authorities probe Goldman Sachs over Silicon Valley Bank collapse

Goldman is cooperating with and providing information to various governmental bodies on its activities for SVB in March just before the bank collapsed, according to the filing

In Thursday's filing, Goldman said the government probes include when SVB engaged the firm to assist with a proposed capital raise and SVB sold the firm a portfolio of securities

Companies violating Emiratization targets will face up to $136,147 fines

Not meeting the Emiratization targets, which includes reducing the number of employees or modifying their classification, will be considered a violation

Companies with 50 employees or more are required to increase the number of their Emirati employees in skilled jobs by 1 percent every six months

US Federal Reserve’s rate hike risky and ill-timed

The US Fed's failure to act earlier on inflation was a significant miscalculation, and now they have made another mistake with the latest rate hike, says deVere Group CEO

It could potentially trigger not only a short-term but also a longer-term recession in the world's largest economy, with detrimental effects on the global economy, he adds

GCC considers unified visa system to boost tourism

Ministerial-level talks are underway among the GCC nations to achieve a single visa agreement, says Bahrain's Tourism Minister Fatima Al Sairafi during an event in Dubai

The unified GCC visa strategy aims to boost tourism sector's contribution to GDP, create employment, enhance competitiveness and ensure sustainability of the industry

Iran seeks trade boost with Syria during Raisi’s visit to Damascus

Raisi said Iran and Syria had signed 15 "cooperation documents" which would allow "both countries to open a new chapter in economic relations".

Raisi and Assad signed a deal on "long-term strategic cooperation", covering fields including oil, aviation, railways and agriculture.

ECB raises interest rate but says more steps likely to fight inflation

It was the seventh-straight increase in the ECB's unprecedented campaign of monetary tightening that began last year after costs of everyday goods began to soar.

Thursday's increase brings the ECB's deposit rate to 3.25 percent, its highest level since 2008.

DEWA customers can make payments via Samsung Pay

BMW Q1 net profit at $4.1bn  

Overall vehicle sales declined by 1.5 percent year-on-year, with a 6.6 percent slide in China and a 1.9 percent decrease in Europe.

In Europe, "the environment was characterized by persistent inflation and high interest rates," BMW said.

UAE, Switzerland discuss enhancing bilateral relations

A UAE minister said financial dialogue offers opportunities for collaboration between both countries to achieve further growth and prosperity.

He also mentioned that the global economy went through fast developments since both parties last met in Abu Dhabi in March 2022.