Economy
Business and economy news
1542 articles in this section
Qatar Stresses Enduring Global Importance of the Strait of Hormuz Despite New Export Routes
Qatar insists the Strait of Hormuz will remain a vital international trade route despite efforts by Gulf states to develop alternative export paths amid ongoing regional conflict.
Sharjah Ruler Introduces Flexible Part-Time Work Scheme for Retirees and Senior Citizens
Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi has approved a flexible part-time work scheme for retirees and senior citizens in the public sector to enhance family stability and work-life balance.
Dubai Metro's Red Line Station Renamed Garmin in 10-Year Naming Rights Deal
The Onpassive Metro station on Dubai Metro's Red Line is being renamed Garmin Metro Station following a new 10-year agreement announced by the Roads and Transport Authority.
Emaar Founder Mohamed Alabbar Forecasts Balanced Dubai Property Market Despite Regional Pressures
Emaar Properties founder Mohamed Alabbar expects a balanced Dubai property market next year despite regional conflicts, highlighting the company's strong cash flow and refusal to offer discounts.
Saudi Arabia's PIF Establishes New Developer for Al Khafji Coastal Megaproject Near Kuwait Border
Saudi Arabia's Public Investment Fund has launched the Gulf Coast Development Company to build a major residential and tourism project along the Arabian Gulf in Al Khafji near the Kuwaiti border.
Cuban Innovation Flourishes Amid Severe Energy Crises and Blackouts
Facing severe rolling blackouts and fuel shortages driven by US sanctions, Cubans across the island are adopting creative survival tactics, from solar-powered transit to DIY digital tutorials.
Volkswagen Strikes Deal to Convert German Plant Into Israeli Defence Hub
Volkswagen has agreed to transition its Osnabrueck factory in Germany into a military manufacturing hub in partnership with Aurelius Capital and Rafael Advanced Defence Systems, saving 1,400 jobs amidst major corporate restructuring.
Gulf Continues to Attract Foreign Investment Despite Regional Conflict and Economic Uncertainty, Says GCC Secretary General
GCC Secretary General Jasem Al Budaiwi stated that the Gulf economic bloc continues to draw robust foreign investment and maintain market stability despite ongoing regional conflicts and energy sector volatility.
US Trade War with Iran Poses Potential Threat to Spain's Iconic Saffron Supply for Paella
United States threats of strict trade sanctions against Iran have sparked concern among Spanish exporters who rely heavily on Iranian saffron for the traditional dish paella.
Strait of Hormuz Tensions: Can Iran Successfully Enforce a New Maritime Restricted Zone?
Iran plans to establish a new restricted zone around the Strait of Hormuz following a breakdown in a temporary maritime truce, raising concerns over global energy supplies and ongoing vessel security.
Global Shipping Threatened by Severe Fuel Shortages Amid Ongoing Wars in Iran and Ukraine
Global shipping faces a mounting crisis as wars in Iran and Ukraine, coupled with refiners prioritizing diesel, trigger a severe shortage and price surge in essential ship fuel.
Prime Minister Mostafa Madbouly Inaugurates First Phase of $20 Million Designy Doors Factory in Sokhna
Prime Minister Mostafa Madbouly inaugurated the first phase of the Designy Doors factory in the Sokhna Integrated Industrial Zone, a $20 million project aimed at boosting domestic production and exports.
US Consumers Shell Out $100 Billion Extra on Fuel Amid Prolonged War on Iran
A new tracker reveals that US households have spent an extra $100bn on fuel during the first six months of the war on Iran, driving up living and grocery costs nationwide.
Prime Minister Mostafa Madbouly Emphasizes Healthcare Localization to Drive Self-Sufficiency
Prime Minister Mostafa Madbouly inaugurated two specialized medical manufacturing factories in the Sokhna Industrial Zone, emphasizing the importance of healthcare localization to meet domestic needs.
Aldar Launches Wellness-Focused Sei Saadiyat Development in Abu Dhabi with Zen Gardens and Serenity Pools
Aldar Properties has launched Sei Saadiyat, a wellness-focused residential development in Abu Dhabi's Saadiyat Cultural District featuring Zen gardens, serenity pools, and 778 total homes.
Egypt's Petroleum Minister Outlines Ambitious Five-Year Expansion Plan for Coop Petroleum
Egyptian Petroleum Minister Karim Badawi has directed Coop Petroleum to develop an ambitious five-year growth plan following a fiscal year marked by record profits and surging marine bunker sales.
Germany and UAE Eye Stronger Economic and Defense Ties Amid Growing Regional Security Challenges
Germany and the UAE are strengthening their long-term bilateral partnership, focusing on advanced technologies, renewable energy, and joint security ventures amid regional security challenges.
Iran Doubles Petrol Prices for Heavy Users Amid Severe Wartime Economic Strain
Iran has doubled petrol prices for heavy users amid a severe wartime economic crisis and plummeting currency value, sparking long lines at fuel stations and fears of renewed unrest.
UAE and Germany Strengthen Bilateral Ties with Focus on AI, Energy Transition, and Advanced Technology
President Sheikh Mohamed is set to visit Germany to advance five decades of diplomatic and economic ties, focusing on energy transition, advanced technology, and artificial intelligence.
Europe Faces Severe LNG Supply Crunch as Middle East Instability Threatens Winter Energy Security
Europe faces an acute energy crisis as dwindling gas reserves, ongoing disruptions in the Strait of Hormuz, and soaring global LNG prices threaten a difficult winter ahead.
Adidas Faces Potential Boycott Following Amputee Campaign Featuring Israeli Soldier
Adidas is facing a public boycott due to an amputee marketing campaign that features an Israeli soldier.
Kenya Targets Foreign Traders in Small Business Crackdown to Protect Local Retailers
President William Ruto has directed authorities to crack down on foreign nationals operating small retail shops and hawking in Kenya, aiming to protect local MSME traders while continuing to welcome high-capital foreign investment.
Adidas Faces Global Boycott Calls Over Advertising Campaign Featuring Former Israeli Soldier
Adidas is facing intense boycott calls and criticism for featuring a former Israeli soldier in an advertising campaign promoting a single-shoe service for amputees. Pro-Palestine activists, human rights campaigners, and public figures condemned the campaign as an affront to Palestinians affected by the ongoing conflict.
Severe Drought in Indonesia Leaves Rivers Dry and Filled with Dead Fish
A severe drought in Indonesia has caused rivers to vanish, leaving them completely dry and filled with dead fish.