Tesla to build first grid-scale power plant in China
New York, United States - Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage...Economy
US Fed set to hold rates steady as it guards against inflation
Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy...Economy
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.
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
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.
Saudi stocks take 5-year record fall, plunge nearly 7% after US tariffs spark global market turmoil
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"
Trump’s global tariff takes effect in dramatic US trade shift
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
Nations divided ahead of decisive week for shipping emissions
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.
Stocks, oil slump as China retaliates and Trump digs in heels
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".
