Economy
Business and economy news
1542 articles in this section
Dubai Investments Gears Up for UAE's First IPO of the Year, Aiming to Raise $543 Million
Dubai Investments is launching the UAE's first IPO of the year, seeking to raise $543 million by selling a 20% stake in its subsidiary, DIP Holding. The offering aims to revive the local IPO market and will test investor sentiment.
2026 US Midterms Poised to Shatter Spending Records Fueled by Billionaires and Super PACs
The 2026 US midterm elections are projected to be the most expensive ever, with political advertising alone expected to reach $11.6 billion, largely funded by wealthy donors and Super PACs. Top individual donors like Elon Musk and organizations such as One Nation are significantly influencing the financial landscape of the elections.
Adnoc Drilling Achieves Record Revenue and $1.07 Billion Profit in Nine Months
Adnoc Drilling reported a 0.7% rise in nine-month net profit to $1.07 billion and record revenue of $3.7 billion, driven by expanded onshore and offshore operations. The company also launched its 'Drill-to-Operate' strategy to enhance value and market presence.
Middle East Conflict's Ripple Effect: African Food Security Threatened by Soaring Fuel and Fertilizer Costs, Officials Warn
The conflict in the Strait of Hormuz is driving up fuel and fertilizer prices, threatening food security across Africa. Trade officials warn that reduced fertilizer use could impact harvests and increase food costs, while also disrupting supply chains and currency values in affected nations.
Brazilian Real Tumbles as Lula Secures Presidency Amidst Market Uncertainty
Brazil's currency, the real, and stock market futures experienced a significant downturn following President Luiz Inacio Lula da Silva's re-election victory, amid market uncertainty and the refusal of rival Flavio Bolsonaro to concede.
Apollo Global Management Invests in Mubadala Capital to Fuel Growth
Apollo Global Management is acquiring a minority stake in Mubadala Capital as part of a strategic investment aimed at supporting the firm's growth. The deal, which includes commitments from other investors, is expected to close in late 2026.
AI Stocks Surge as Anthropic Files for IPO, Boosting Wall Street's Best Day in a Month
Wall Street saw significant gains on Monday, with the S&P 500 and Nasdaq heading for their best day in a month, largely driven by AI stocks following Anthropic's IPO filing. The filing revealed the AI lab's ambitious plans and financial details amidst a week of crucial corporate earnings reports.
Hebron Businesses Devastated: Israeli Assault Leaves Factories in Ruins
Israeli military demolitions in Hebron have left businesses in ruins, with factory owner Sufian al-Qawasmi estimating losses of at least $19 million. The destruction, which followed a shooting attack, has severely impacted the economy of Hebron, a vital hub for the Palestinian economy.
Qatar and Kyrgyzstan Forge Stronger Economic Bonds with New Trade and Investment Agreements
Qatar and Kyrgyzstan have signed new agreements to enhance trade and investment, focusing on sectors like infrastructure, renewable energy, and agriculture. The deals aim to establish a joint business council and strengthen economic ties between the two nations.
Chancellor John Healey's Budget Balancing Act: Can He Retain Investor Confidence in Britain?
Chancellor John Healey's budget aims to balance immediate cost-of-living relief and investor confidence with long-term fiscal stability, navigating pressures from global events and domestic economic concerns. Key decisions on capital gains tax, property taxes, and business regulation are anticipated to signal the government's economic direction.
California's Billionaire Tax Battle: Wealthy Elite Fight Proposed 5% Levy Amidst Fierce Campaigning
California's proposed 5% tax on billionaire assets faces a costly opposition campaign, with tech moguls spending heavily to block the measure. Supporters, including professor Brian Galle and groups like Patriotic Millionaires, are countering misinformation amidst a significant funding disparity.
Egypt's Cigarette Prices Rise for 'Target' and 'Time' Brands Amidst Dollar Surge
Prices for "Target" and "Time" cigarettes have increased by one Egyptian pound per pack due to the rising US dollar exchange rate. This move by Mansour International and other companies reflects ongoing economic monitoring and potential further adjustments.
Egypt's 'Target' and 'Time' Cigarettes See Price Hike Amidst US Dollar Surge
Prices for 'Target' and 'Time' cigarette brands in Egypt have increased by one Egyptian pound per pack due to the rising US dollar exchange rate. Further adjustments are anticipated as companies monitor economic shifts.
Iraq Proposes Record Budget Amidst Severe Financial Crisis and Economic Contraction
Iraq's proposed 2027 budget, the largest in its history, is facing criticism for being detached from the country's severe financial crisis and economic contraction, despite record spending allocations.
US Military Secures Vital Gulf Oil Exports Amidst Regional Tensions
The US military has supported Gulf states in exporting over 1.5 billion barrels of oil since June, ensuring safe passage through the Strait of Hormuz despite Iranian interference. This effort has helped restore crude oil flows to pre-war levels, though oil prices remain elevated.
Global Diesel Shortage: Why Quick Fixes Are Elusive and What Solutions Lie Ahead
The world faces a severe diesel shortage due to ongoing conflicts and reduced refinery capacity. While diplomatic efforts and increased production are underway, quick fixes are unlikely, necessitating a focus on demand reduction strategies.
UAE's Green Economy Leadership: WGES 2026 Highlights Innovation and Global Impact
The World Green Economy Summit (WGES) in Dubai highlighted the UAE's leading role in driving global discussions and initiatives for a sustainable future. Experts emphasized the growing importance of the green economy, the UAE's competitive advantages, and the need for policy-driven investment.
Doha Hosts World Investment Forum Amidst Global Economic Flux and Shifting Supply Chains
The UN World Investment Forum has opened in Doha, bringing together global leaders and investors to discuss shifting investment trends, supply chain challenges, and economic uncertainty. Qatar is hosting the three-day event focused on "Investing in the Future."
US Ranchers Face Economic Uncertainty as Trade Policies and Shrinking Herd Impact Profits Ahead of Midterms
US ranchers are facing economic uncertainty due to recent tariff changes on beef imports and a shrinking cattle herd. While the administration aims to lower consumer prices, ranchers are experiencing reduced profits and increased volatility, potentially influencing their votes in the upcoming midterms.
UAE and Benin Forge Stronger Economic Ties with New Partnership Agreement
The UAE and Benin have signed a Comprehensive Economic Partnership Agreement to boost trade and investment, with non-oil trade reaching $2.15 billion in 2025. The deal aims to reduce duties, remove barriers, and improve market access.
Europe's Shifting Stance: From Silence to Concern Over US-Israeli War on Iran and its Economic Fallout
European nations are increasingly opposing the US-Israeli war on Iran due to its severe economic impact, including soaring oil prices and a worsening cost of living crisis, which has fueled widespread protests across the continent.
Bangladesh's Per Capita GDP Poised to Surpass India's: Understanding the Economic Shift
The IMF projects Bangladesh's per capita GDP to surpass India's this year, despite India's larger overall economy. This shift highlights Bangladesh's economic success, driven by its garment industry and remittances, though challenges like inflation and unequal growth persist.
Saudi Arabia Unveils Financial Aid Package Amid Rising Utility Tariffs
Saudi Arabia is introducing financial support measures, including monthly payments and increased minimum wages, to offset rising electricity and water tariffs set to take effect in January. The package aims to ease the burden on citizens and support national employment.
Egyptian Economist Predicts Dollar to Stabilize Around LE 52, Citing Global and Domestic Pressures
Economist Mohamed Fouad predicts the US dollar will stabilize around LE 52 in Egypt, citing significant foreign investment outflows and global economic pressures. He deems a drop below LE 50 unlikely in the near term due to a combination of domestic structural issues and international financial trends affecting emerging markets.