• Oil may rise to $100, gold to hit $3,000 by 2025, says Citi

    ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce within the next 12 to 18 months, subject to three potential catalysts, CNBC reported, citing Citi analysts. Aakash Doshi, Citi’s North America head of commodities research, told CNBC that gold...
  • China’s industrial sector posts robust growth in 2023

    Beijing, China--China has reported robust progress in its industrial development this year, marked by significant milestones in several sectors, according to the Chinese newspaper People's Daily Online. The nation's first domestically-produced large cruise ship has wrapped up its maiden test voyage, with plans for its official naming and delivery by...
  • Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn

    TEHRAN, IRAN  â€“ Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four months of the current Iranian year exceeded $3.6 billion, an official said. Iran exported $3.615 billion worth of non-oil goods to the ECO member states from March 21 to July...
  • ADEX and Egypt sign wheat, commodities financing agreement

    Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a five-year $500m agreement with the Egyptian government to facilitate the provision of wheat and essential commodities in the North African nation. The agreement entails a revolving financing program...
  • Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?

    The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to a peaceful place. Dive into an in-depth analysis from TRENDS.
  • Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?

    The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place.
  • Iran-Turkey trade to hit US$15bn on back of private sector cooperation

    Tehran, Iran-- Bilateral trade between Iran and Turkey is expected to vault to US$15 billion by 2025 on the back of deeper cooperation with the private sector. According to a senior official in Iran’s Trade Promotion Organization (TPO) trade with Turkey will easily reach $15 billion in early March 2025...
  • UAE-Turkey non-oil intra-trade crosses US$103 billion in last 10 years

    Abu Dhabi, UAE-- The UAE and Turkey economic ties have witnessed a great leap in the last decade with non-oil intra-trade between the two countries crossing $103 billion, divided into $56 billion in imports, about $35 billion in exports, and more than $13 billion in re-exports, according to Federal Competitiveness...
  • Amman Chamber exports rises to US$565m in January- March 2023

    AMMAN, JORDAN  -  The Amman Chamber of Commerce (ACC)'s export of goods and commodities to Arab and other countries increased during the first three months of 2023 by 58.2 percent compared to the same period last year.According to the chamber's statistical data obtained by Petra, "ACC's exports during the January-March...
  • Commodities hurt by a crisis of confidence

    Inflationary pressures, meanwhile, have eased by less than expected. Continued strength in the numbers has forced the Fed to turn up the hawkish rhetoric, and the market has responded by raising the expected terminal Fed funds rate while at the same time sending bond yields and the dollar higher, he...
  • UNDP requests $113.5 million to support early recovery in Turkey

    ANKARA, TURKEY - Clearing the mountains of rubble due to buildings collapse in the earthquakes that hit Turkey on February 6 and 20, 2023 is the top-priority action mapped out by the United Nations Development Program (UNDP) in its response to the disaster. Rubble removal accounts for a large share...
  • DGCX reports 16% growth in total volume of trades in 2022

    DUBAI, UAE - Dubai Gold and Commodities Exchange (DGCX) Thursday announced its full-year market statistics for 2022, reporting 8.239 million contracts with a  value of US$162.01 billion during the year, representing growth of 16 percent and 8.24 percent from 2021, respectively. The DGCX is the largest and most diversified derivatives...
  • OPEC+ output cuts continue to impact energy market

    Commodities, meanwhile, trade mostly higher as the market's focus remain altered between optimism over China reopening after exiting its strict Covid-zero policies as well as raised worries about tightening supply driven by increased activity from Chinese buyers. and an extended rate hike cycle in the US, he adds.
  • World food prices hold steady in October, says FAO

    World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for Ukrainian grains on the Black Sea, a UN agency said. Global food prices have been falling since hitting an all-time high in March in the wake of Russia's invasion of...
  • Refinery margins go up for gasoline, distillate products

    Strength this week has been driven by a continued developing tightness in the fuel product market, US exports of crude and fuels setting a weekly record, the weaker dollar as well as strong buying from China as refineries there plan to boost fuel exports through the end of the year,...
  • OPEC-forced rally in crude oil strengthens markets

    The fear of the global organizations such as International Energy Agency that the OPEC+ decision would increase energy security risks worldwide, leading to higher prices and volatility, and potentially ending up being the tipping point for a global economy was proved wrong, he adds.
  • Marketwatch: Tight supply battles recession risks

    Adding to this, the market had witnessed September as a month of turmoil across financial markets driven by a surging dollar and traders sending bond yields sharply higher in anticipation of further rate hikes from central banks, led by the US Federal Reserve, adds Hansen while reviewing the global scenario.
  • Saudi stocks shine, while UAE’s post losses

    GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while the UAE stocks tanked, ending the weeks with losses.
  • Jebel Ali Free Zone propels automotive markets growth

    Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million MT of vehicle and transport commodities which transited through the emirate in 2021.
  • DMCC puts on display world’s largest pink diamonds at DDE

    DMCC has hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the "Williamson Pink Star" – at the Dubai Diamond Exchange (DDE).
  • Core inflation is unofficially dead

    If the apex banks focus too much on core inflation, it will be a big mistake. Food and energy will be at the center of the crisis years with climate change and green transformation being inflationary in the years to come. Investors should increasingly invest in the tangible world to...
  • Retail sector in Gulf region stares at slump in business

    Market experts predict a hard summer for the GCC retail industry as rising costs keep shoppers away from malls and stores amid soaring inflation and high cost of fuel.
  • Abu Dhabi non-oil foreign trade $33.75 billion in first half of 2022

    The value of the trade-in commodities from normal metals and their products increased to AED24.51 billion, with a growth rate of 22 percent, compared to AED20.11 billion in 2021. The trade in pearls, gemstones, precious metals and their products has increased to 40 percent.
  • Macroeconomic issues may hit logistics across GCC

    The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the global supply chain, say experts.
  • Major fall in global food prices in July, says FAO

    Food prices dropped significantly in July, marking the fourth consecutive monthly decline since record highs earlier this year in the wake of the situation in Ukraine, the Food and Agricultural Organization said. FAO published its latest Food Price Index, which tracks monthly changes in global prices of cereals, vegetable oils,...
  • Retail sector in Gulf region stares at slump in business

    Market experts predict a hard summer for the GCC retail industry as rising costs keep shoppers away from malls and stores amid soaring inflation and high cost of fuel.
  • Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion

    Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15 percent increase compared to the same period of 2021. Exports grew by 35 percent in the first three months of the year compared to the same period of last year ...
  • Volkswagen posts Q1 profit

    The German auto giant said operating profit rose to $9.3bn.
  • Dubal Holding profit at $735m

    DH is Dubai’s commodities and mining investment arm.
  • Aluminium, copper prices hit records on Ukraine fallout

    Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.
  • Is GCC inflation getting out of control?

    Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound. A sudden rise could cause a shock to the Gulf economies leading to a recession.
  • 2021 best-ever year for DMCC, 2485 companies attracted to Dubai

     Dubai Multi Commodities Centre has said it recorded its best year on record as it attracted 2, 485 companies in Dubai in 2021. The flagship free zone and Dubai government's authority on commodities trade and enterprise also saw its best June, August, September and November, reaching a total of over...
  • Dubai non-oil external trade up 31 percent, exports grow 45 percent

    The results show Dubai has reinforced its status as one of the world’s fastest-growing business hubs, said Dubai crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He added Dubai’s existing sea and air network will be expanded to cover 200 new cities around the world.
  • DGCX, Zimbabwe exchange ink pact

    DGCX will extend technical support and skills to VFEX.
  • Dubai Chamber launches online tool to fill $10b export gaps

    The launch of the tool is in line with the emirate’s new target to boost its foreign trade from around $380 billion to around $545 billion over the next five years.