From the 1980s onward, the federal government and individual emirates launched broader diversification and liberalization programs to reduce reliance on...
- In addition, Kuwait hosted a major joint meeting between the GCC and the United Kingdom in October focused on a...
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.
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.
Other Gulf markets also took a dive, reflecting global trends as countries around the world grapple with Trump's shock tariffs...President Donald Trump's tariff offensive unleashed this week has sparked a global stock market rout, also raising fears of a general trade war and recession
State-run financial newspaper Al-Eqtisadiah said that "the Saudi stock market lost more than half a trillion riyals (about $133 billion) in market value during Sunday's trading"
US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating...The trade gaps, said the White House, were driven by an "absence of reciprocity" in relationships and other policies like "exorbitant value-added taxes."
Come April 9, around 60 trading partners -- including the European Union, Japan and China -- are set to face even higher rates tailored to each economy
London, United Kingdom -- Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...The carbon tax, the most ambitious measure on the table, would make it more expensive for shipping companies to emit greenhouse gases, encouraging them to curtail emissions.
But some member states, including China and Brazil, are proposing other measures, arguing the carbon levy would increase the cost of goods and contribute to food insecurity.
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...Beijing also imposed exports controls on seven rare earth elements, including gadolinium -- commonly used in MRIs -- and yttrium, utilized in consumer electronics.
French President Emmanuel Macron has called for suspending investment in the United States until what he called the "brutal" new tariffs had been "clarified".
- Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war,...
Shock waves tore through markets in the United States, Europe and Asia after Trump's tariff bombshell
Trump dismissed the turmoil, insisting to reporters as he left for a weekend at his Florida golf resort that stocks will "boom."
- After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures...
Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries including China
Trump's tariffs come just over a year and a half before US midterm elections, in which the party of the US president is often hammered on the economy
- The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
China demanded that the tariffs be "immediately cancelled" and vowed "countermeasures", while France and Germany warned that the EU could hit US tech firms.
But EU and other countries also showed willingness to negotiate as they refrained from immediate retaliatory measures, with almost a week until the harsher US levies take effect.
China on Thursday said it "firmly opposes" sweeping new US tariffs on its exports and vowed "countermeasures to safeguard its...US President Donald Trump has ignited a potentially ruinous global trade war after imposing 10 percent levies on imports from around the world
Beijing responded to those tariffs with levies of up to 15 percent on a range of US agricultural goods including soybeans, pork and chicken
