Economy
Business and economy news
1542 articles in this section
Turkey Not Concerned by Syria-Iraq Oil Pipeline, Energy Minister Asserts
Turkey's Energy Minister, Alparslan Bayraktar, stated that Ankara is not concerned about the rehabilitation of the Kirkuk-Baniyas oil pipeline between Iraq and Syria, viewing it as a potential alternative export route that would not threaten Turkey's existing energy infrastructure.
GCC Nations Set to Sign Landmark Railway Agreement on Sunday in Bahrain
Bahrain is set to host the signing of a landmark agreement on November 8 to connect all six GCC countries via a railway network. The project aims to strengthen regional trade and connectivity, with its importance underscored by recent shipping disruptions.
AI's Economic Revolution: Egypt's Path to Wealth, Inspired by Adam Smith
This article explores how Adam Smith's theories on national wealth remain relevant in the age of AI, emphasizing the need for Egypt to focus on practical applications of technology to address economic and social challenges, invest in human capital, and ensure equitable distribution of AI's benefits.
Dana Gas Soars: Q3 Profit Jumps 50% on Surge in Kurdistan Gas Output and Higher Prices
Dana Gas reported a 50% surge in Q3 profit to $45 million, driven by increased gas output from its Kurdistan fields and higher hydrocarbon prices. Despite security disruptions and payment challenges, the company saw revenue rise by 42%.
Asian Markets Reel as US AI Fears Trigger Tech Stock Sell-off
Asian markets experienced significant declines as a tech stock rout, triggered by US AI regulatory fears following a Democratic victory, spread across the region. Authorities intervened in South Korea and China to stabilize markets, while experts anticipate new regulations on data center development.
Oil Prices Slide Weekly Amidst Trump Election Fallout and Iran Tensions
Oil prices are set for a significant weekly drop due to the fallout from the US midterm elections and ongoing tensions with Iran. Despite a Friday rise, market uncertainty persists.
US Midterms Trigger Market Havoc: $2.3 Trillion Vanishes Amidst Global Financial Flux
US midterm elections have caused a significant market downturn, wiping out $2.3 trillion and contributing to global financial volatility. The article also touches on geopolitical developments involving Iran and other international news.
Adnoc Secures Long-Term LNG Supply Deal with India's Gujarat Energy
Adnoc has signed a 10-year agreement with India's Gujarat Energy to supply up to four million tonnes of liquefied natural gas (LNG) starting in 2028. This deal marks the first LNG sale from Adnoc's international portfolio via XRG and strengthens energy ties with India.
Global Debt Catastrophe Fears Overblown: Data Shows Debt is Actually Decreasing
Despite widespread fears of a global debt catastrophe fueled by rising US federal debt, data indicates that global debt as a percentage of GDP has actually decreased over the past decade due to inflation and a shift from riskier household debt to government debt.
LIV Golf Ceases Operations Amidst Funding Collapse and Failed Rescue Efforts
LIV Golf is winding down its operations due to a withdrawal of Saudi funding and the failure of a rescue deal. The league will undergo an orderly liquidation process after failing to secure financing beyond the 2026 season.
Global Energy Security Demands Diversification Beyond Oil and Gas, Adipec Highlights
The Adipec conference in Abu Dhabi highlighted the critical need for global energy security through diversification beyond oil and gas, driven by geopolitical risks and surging demand from sectors like AI. Investing in renewables, nuclear, and storage is crucial for energy independence and economic stability.
Wealthy Nations Fall Short on Climate Pledges to Developing Countries, UN Warns
A UN Environment Programme report indicates that wealthy nations are failing to meet their financial pledges to developing countries, hindering global adaptation efforts against the climate crisis. Experts discuss the severe consequences of this shortfall.
AI Stocks Lead Market Plunge Following Election Results, US Markets Decline
US markets experienced a significant decline on Thursday, led by a selloff in AI stocks, following the Democratic Party's victories in the midterm elections. This led to drops in major tech companies and semiconductor manufacturers, while gold prices saw an increase.
Paraguay's President Pena Resigns Amidst Financial Crisis Following Digital Lender ueno Collapse
Paraguayan President Santiago Pena has resigned following the collapse of digital lender ueno, which has left millions of customers unable to access their funds. The resignation comes amid impeachment proceedings and public protests.
Emaar Properties to Delist Construction Arm in $3.3 Billion Buyout to Streamline Operations
Emaar Properties is set to delist its construction unit, Emaar Development, through a $3.3 billion buyout to consolidate its business. The offer includes a 19.4% premium on the company's closing share price.
Oil Prices Surge After Midterm Elections Amidst Lingering Iran Conflict Uncertainty
Oil prices rebounded from a two-month low following the US midterm elections, as geopolitical uncertainty surrounding the Iran conflict continues to influence market dynamics. Analysts suggest prices may fall further once conflicts resolve.
talabat Amplifies Support for Local Businesses During MOCI's National Product Week
talabat is partnering with the Ministry of Commerce and Industry for National Product Week, using its digital platform to boost visibility and sales for local Qatari products. The initiative aims to connect consumers with homegrown brands and support the diversification of Qatar's economy.
AI Fears Drive Nasdaq into Correction as Tech Stocks Tumble Post-Election
The Nasdaq Composite has entered correction territory, with tech stocks, including AI-related companies like Nvidia and Broadcom, experiencing significant declines. This downturn follows a brief post-election rally and raises concerns about potential increased regulation under a Democratic-controlled Congress.
Oil Prices Poised to Drop to $80-$85 Post-Conflict, While Federal Reserve Faces Scrutiny, Says UBS Economist
UBS chief economist Paul Donovan predicts oil prices could fall to $80-$85 post-conflict, citing stable supply and demand fundamentals. He also discusses Federal Reserve risks and expresses skepticism about the 'productivity pixie' theory.
Adipec Concludes: Energy Security, AI, and Supply Deals Dominate Discussions Amidst Global Disruptions
The Adipec conference concluded with a focus on energy security challenges, exacerbated by the Iran war and Strait of Hormuz disruptions, alongside the growing role of AI in the oil industry. New energy deals were also announced.
Ghana's Housing Crisis: Why Investment Alone Isn't Making Homes Affordable
Ghana is struggling to make housing affordable despite attracting investment, facing challenges with high construction costs, limited financing options for informal workers, and land tenure issues. While technology and government initiatives offer potential solutions, a fundamental shift in aligning housing supply with household incomes is needed.
Egypt and US Forge Landmark Strategic Agreement to Boost Economic Ties and Development
Egypt and the US have signed their first-ever Strategic Objective Agreement, committing $125 million in US funding to expand economic cooperation in sectors like energy, water, infrastructure, and technology, aiming to drive private-sector growth and improve public services in Egypt.
US Midterm Election Results Spark Renewed Hope for Renewable Energy, Executive States
US midterm election results have boosted optimism for renewable energy, with an executive suggesting a policy shift could favor clean energy adoption. High fuel prices and global supply concerns further enhance the appeal of renewables.
US Midterm Election 'Blue Sweep' Boosts Asian Markets, Dents Oil Prices Amid Iran War Hopes
Asian markets rallied and oil prices fell following the US Democratic party's strong midterm election performance, which has raised hopes for an end to the Iran war and boosted investor confidence.