Economy
Business and economy news
1542 articles in this section
US Taps Sanctioned 'Dark Fleet' to Combat Soaring Energy Prices
The U.S. is considering utilizing its 'dark fleet' of sanctioned ships to alleviate rising energy costs, a move met with skepticism regarding its effectiveness in addressing security concerns.
Gaza Families Face Starvation as WFP Slashes Vital Aid Amid Funding Crisis
The World Food Programme has significantly cut food and cash assistance for hundreds of thousands in Gaza due to funding shortages, leaving families who lost everything in the war fearing for their survival and exacerbating the territory's economic crisis.
US Secretary of State Marco Rubio Tours World's Largest Oil Refinery in India Amid Global Energy Tensions
US Secretary of State Marco Rubio is visiting India, including a tour of the world's largest oil refinery owned by Reliance Industries in Jamnagar. The visit highlights India's crucial role in global energy markets, US-India relations, and the complex dynamics of international oil trade, particularly concerning Russian crude and US energy policy.
Iran Rejects Claims of Imminent Collapse Amid US Assertions of IRGC Financial Strain
Iran has denied claims of imminent economic collapse, acknowledging financial challenges due to U.S. sanctions and regional conflicts, while asserting its resilience and commitment to supporting allied groups.
France's Fiscal Woes Echo Concerns for the US: A Debt Crisis Looming?
France is facing a fiscal crisis that mirrors concerns in the US, but the US's status as the world's reserve currency and its diverse economy, boosted by AI, offer significant advantages. However, economists caution that this doesn't equate to fiscal responsibility.
Ryanair CEO Warns of 'Biggest Ever' Airfare Surge in Europe Next Year Amidst Rising Oil Prices
Ryanair's CEO, Michael O’Leary, predicts the largest-ever increase in European airfares next year, potentially up to 20%, due to rising oil prices driven by the Middle East conflict. He warns that even this surge may not cover the increased fuel costs for airlines.
Houthi Attacks Propel Oil Prices to Five-Month Peak Amid Supply and Inflation Concerns
Oil prices have reached a five-month high due to escalated Houthi attacks on Saudi Arabia, fueling concerns about supply disruptions and inflation, potentially leading to further interest rate hikes by the US Federal Reserve.
Cairo Hosts Crucial Union for the Mediterranean Economic Forum to Boost Regional Growth
The Union for the Mediterranean (UfM) Economic Forum has convened in Cairo, with Egypt's Foreign Minister Badr Abdelatty welcoming the initiative to strengthen the private sector's role in regional economic development. The forum addresses critical economic, security, and environmental challenges facing the Mediterranean region.
Qatar and Singapore Forge Strategic Partnership, Deepening Ties in Tech, Security, and Trade
Qatar and Singapore are set to formalize a strategic partnership covering trade, energy, AI, security, and sustainable development, following Prime Minister Lawrence Wong's visit to Doha. This collaboration aims to deepen ties in technology and defense, while also strengthening regional security and fostering cooperation with ASEAN.
Gulf Nations to Supply 10% of France's Diesel Needs Amidst Energy Price Concerns
Saudi Arabia, the UAE, and Bahrain will supply France with diesel equivalent to 10% of its consumption in the coming weeks to help lower energy prices. The agreements were largely secured during President Emmanuel Macron's recent tour of the Gulf region.
UAE Hiring Surges in Q3, Outpacing Gulf Rivals Amidst Regional Economic Headwinds
Hiring in the UAE rebounded significantly in the third quarter, reaching 4% and outpacing other Gulf nations, despite ongoing regional uncertainties. The recovery was driven by business demand, particularly in sectors like energy, finance, and strategy, though companies remain cautious about the year ahead.
UAE Foreign Minister Sheikh Abdullah bin Zayed and India's S. Jaishankar Forge Stronger Economic and Cultural Ties in Mumbai
UAE Foreign Minister Sheikh Abdullah bin Zayed met with India's External Affairs Minister S. Jaishankar in Mumbai to strengthen economic, trade, and cultural ties. The discussions highlighted the growing momentum of the UAE-India partnership, building on the Comprehensive Economic Partnership Agreement (Cepa).
UAE Developer Arada Unveils Massive $3.8 Billion Riyadh Housing Project, Plans 100,000 Homes in Saudi Arabia
UAE developer Arada is launching a $3.8 billion residential project in Riyadh and plans to build 100,000 homes in Saudi Arabia over the next three to five years. The expansion is driven by Saudi Arabia's market reforms and strong domestic housing demand.
UAE Universities Experience Surge in Student Enrollment, Announce Expansions
UAE universities are experiencing a significant surge in student enrollment, with a 15% annual increase reaching 218,000 students in the 2025/26 academic year. Institutions are responding with expansion drives and new programs to meet growing demand and capitalize on international interest.
US to Repurpose Sanctioned Oil Tankers for Legitimate Crude Transport, Energy Secretary Announces
The US administration is enabling the repurposing of sanctioned oil tankers for legitimate crude oil transport, aiming to reduce energy prices. Energy Secretary Chris Wright stated that investors will buy and refurbish these vessels, moving them from a "bad-guy fleet" to a "good-guy fleet."
Ras Al Khaimah Courts Chinese Investment at Shenzhen Business Summit, Highlighting Long-Term Partnerships
Ras Al Khaimah, led by Sheikh Saud bin Saqr Al Qasimi, is actively seeking Chinese investment at the Shenzhen Business Summit, highlighting its strategic position as a gateway to global markets and its focus on long-term, diversified economic growth.
Global Financial Giants Managing Over $5 Trillion in Assets to Establish Presence in Abu Dhabi's ADGM
Global financial firms managing over $5 trillion in assets are establishing a presence in Abu Dhabi's ADGM, driven by the emirate's rapid economic growth. The ADGM, operating under English Common Law, is attracting major players seeking regional expansion and access to key investment opportunities.
Soaring Costs Spark Youth Unrest Across Europe: France, Italy, Spain, and Portugal Face Growing Anger
Protests over the rising cost of living and cuts to public services have spread across France, Italy, Spain, and Portugal, fueled by significant increases in prices for everyday goods and stagnant wages. Housing affordability has also declined, contributing to widespread youth discontent.
Qatar and Singapore Deepen Energy Cooperation During PM Lawrence Wong's Official Visit to Doha
Singaporean Prime Minister Lawrence Wong visited Doha, leading to the renewal of an energy cooperation memorandum of understanding between Qatar and Singapore. The visit focused on strengthening bilateral ties in investment, energy security, and technology.
Qatar to Establish Defense Production Plant, Bolstering Regional Security
Qatar is planning to announce a new defense production plant to enhance its domestic capabilities, in collaboration with regional and international partners. This move comes after recent attacks on Gulf infrastructure and amid rising regional military spending.
WFP Slashes Aid for 500,000 Gazans Amid Severe Funding Crisis
The World Food Programme (WFP) is cutting aid to 500,000 Palestinians in Gaza due to a severe funding shortage, reducing monthly assistance and rations. This decision exacerbates the already critical food insecurity in the region.
Egypt Taps Private Sector to Drive Healthcare Growth and Pharmaceutical Self-Sufficiency
Egypt's Minister of Health and Population, Khaled Abdel Ghaffar, highlighted the private sector's vital role in developing the nation's healthcare system, particularly in localizing pharmaceutical production and managing facilities. The government is focused on a proactive healthcare strategy, supported by the Universal Health Insurance System and a stable investment climate, aiming to boost medical tourism.
Qatar Warns of Escalating Global Energy Crisis Amid Iran Conflict
Qatar's Deputy Prime Minister warns that the global energy crisis triggered by the US-Iran conflict is escalating, with potential for further disruptions to supplies and economic growth. He also highlighted ongoing communication with Iran and new regional defence initiatives.
Reportage Group and Sabah Investment Group Unveil Four Luxury Real Estate Projects at Azerbaijan's Sea Breeze Destination
Reportage Group and Sabah Investment Group have showcased four new real estate projects at the Sea Breeze destination on Azerbaijan's Caspian coast. The developments, including luxury apartments and branded residences, aim to cater to diverse buyer needs and enhance investment opportunities in the region.