Economy
Business and economy news
1542 articles in this section
Emirates Airline Navigates Regional Disruptions to Achieve $903 Million Half-Year Profit
Emirates airline reported a $903 million half-year profit, a 66% decrease year-on-year, due to regional disruptions and high fuel costs. Despite a 13% drop in revenue, the airline's strong business model and cargo operations contributed to its resilience.
Emirates Group Soars to $980 Million Half-Year Profit Amidst Regional Headwinds and Rising Fuel Costs
Emirates Group has achieved a $980 million profit in the first half of its fiscal year, demonstrating resilience against regional challenges and higher fuel expenses. Revenue for the period reached $66.2 billion.
OMV's New CEO Warns of Prolonged Tightness in Global Refining Markets Due to Low Fuel Stocks
OMV's new CEO, Emma Delaney, warns that low global fuel stocks will prolong the impact of supply disruptions on refining markets, leading to sustained high margins. The company has benefited significantly from this tightness, reporting a strong third-quarter performance.
Paraguay's Financial Crisis: Bank Failure Leaves Half the Nation's Savings in Jeopardy
A major bank in Paraguay has collapsed, putting the savings of half the country's population at risk. The full extent of the financial crisis is still being determined.
LIV Golf on Brink of Collapse as $300 Million Rescue Deal Falls Apart
LIV Golf is facing potential liquidation as a $300 million rescue deal led by BC Partners has collapsed after the Public Investment Fund withdrew its backing. The league's future is uncertain ahead of a bankruptcy court hearing.
Aliko Dangote Establishes Major Oil Tank Farm in Namibia
Africa's richest man, Aliko Dangote, has launched a major oil tank farm in Namibia, expanding the country's energy storage capacity. The facility is poised to play a significant role in regional petroleum logistics.
Africa's Richest Man Unveils Massive Oil Tank Farm in Namibia
Africa's richest man has inaugurated a large-scale oil tank farm in Namibia, marking a substantial addition to the country's energy facilities.
Sudan's Factories Face Uphill Battle to Rebuild Amidst Devastating Wartime Losses
Sudan's manufacturing sector is struggling to recover from extensive wartime damage, with thousands of factories destroyed or severely impacted, leading to reduced production, job losses, and economic hardship.
Brent Crude Dips Below $95 Amidst US Midterm Election Uncertainty and Iran Tensions
Oil prices fell to a near two-month low as the market reacted to the US midterm election results and ongoing uncertainty surrounding US-Iran relations. Brent crude dropped significantly, with analysts suggesting de-escalation in Iran could stabilize prices.
Markets Surge as Democrats Secure Control of House and Senate in Midterm Elections
US markets rallied as Democrats secured control of both the House and Senate in the midterm elections. This outcome has led to varied stock performance across sectors, with tech and healthcare seeing notable shifts, while easing political uncertainty boosted overall investor sentiment.
Abu Dhabi's Ta'ziz Secures $1.39 Billion for Key Ruwais Industrial Projects
Abu Dhabi's Ta'ziz has successfully raised $1.39 billion for two major projects in Ruwais, including a terminal and an ammonia production facility. These funds will support the emirate's industrial growth strategy and contribute significantly to the UAE's economy.
Economy's Grip: How Inflation and War Drove Americans Back to Democrats
Americans have swung back to the Democrats, largely due to economic anxieties fueled by inflation and the war in Iran. Despite a seemingly strong economy, specific policies and rising costs have left voters dissatisfied with the Trump administration.
UAE Non-Oil Firms Hike Prices Significantly in October Amidst Soaring Business Confidence
UAE non-oil businesses significantly raised selling prices in October due to rising operating costs, while business confidence reached its highest point since January. Despite a slight dip in the PMI, economic activity remains in growth territory.
Egypt and UAE Forge Deeper Ties: Joint Investments to Soar in Oil and Gas Sector
Egypt and the UAE are set to expand joint investments in the oil and gas sector, discussing enhanced cooperation in exploration, development, and drilling operations during ADIPEC 2026. Key Egyptian and Emirati companies are expected to play significant roles in upcoming projects.
White Friday Sales Face Uncertainty as US Dollar Strengthens
Retailers are preparing for White Friday sales amidst concerns that a rising US dollar could affect prices and discount levels. However, industry representatives state that current stock was imported or produced months ago, meaning immediate price hikes are unlikely.
Beyond Supply: Energy Leaders Face the Crucial Challenge of Delivery Infrastructure and Investment
The global energy sector is shifting its focus from supply to the critical challenge of delivery, as growing demand from populations, economies, and new technologies like AI necessitates robust infrastructure, significant investment, and skilled talent. ADIPEC 2026 will convene industry leaders to address how to develop, finance, and deliver the energy capacity needed for the future.
Inflation's Sting: Democrats Capitalize on Economic Woes to Regain Congressional Power
Democrats are set to regain control of Congress, riding a wave of voter dissatisfaction with inflation and the economy under Donald Trump's presidency. Despite some positive economic indicators, rising prices and concerns about personal finances swayed voters.
Dubai Investments Successfully Launches First UAE IPO of the Year, Raising $529 Million
Dubai Investments has successfully raised $529 million from the UAE's first IPO of the year, selling a 20% stake in its subsidiary DIP Holding. The offering saw strong demand from investors, signaling renewed confidence in the UAE's capital markets.
Emaar Properties Aims for Full Control of Emaar Development with Dh15 Per Share Offer
Emaar Properties is making a Dh15 per share cash offer to acquire full control of its listed subsidiary, Emaar Development. The move aims to consolidate ownership and is subject to board approval, with the potential deal valued at up to Dh12.6 billion.
US Midterm Election 'Blue Sweep' Rattles Markets: Asian Equities and US Stock Futures Plunge
Asian equities and US stock futures plummeted as early results from the US midterm elections suggested a Democratic 'blue sweep,' potentially impacting President Trump's agenda and leading to tighter regulations on tech sectors. US Treasuries, however, saw gains amid the uncertainty.
Alpha Dhabi Eyes Global Hospitality Expansion to Bolster International Portfolio
Alpha Dhabi Holding is strategically expanding its international portfolio, with a significant focus on the hospitality sector. The company also recently committed $1 billion to artificial intelligence investments.
Energy Sector Braces for Iran Tensions Amid Rising Resilience Costs
Energy companies in the Middle East are enhancing their resilience against potential escalations involving Iran, but this preparedness comes at a significant and mounting financial cost. Executives are adapting supply chains and operations, yet warn that long-term vulnerabilities remain.
Black Sea Conflict Escalates: Attacks on Commercial Shipping Threaten Global Food Security
Attacks on commercial vessels in the Black Sea, part of the Russia-Ukraine conflict, are disrupting global food supplies and driving up prices. Alternative export routes are also under threat, exacerbating concerns for global food security.
Welsh Firms Target UAE Energy Market for Significant Growth at Adipec
Welsh companies are attending Adipec in Abu Dhabi to boost business in the UAE energy sector, with firms like Holyhead Towing and Tomoe Valve already seeing significant revenue from the region. Clenergy EV is also exploring opportunities in the UAE's growing charging infrastructure market.