Economy
Business and economy news
1542 articles in this section
Inside Gaza's Cash Famine: How Residents Struggle with Unreliable Online Payments and Worn Banknotes
Gaza residents face severe daily struggles due to a severe cash shortage and broken banking infrastructure, forcing them to rely heavily on unreliable online payment methods and scarce banknotes.
Canada's Economy Bounces Back in Q2, but New US Tariffs Threaten Future Growth
Canada's economy rebounded with a 3.3 percent annualised growth rate in the second quarter, though new US tariffs and trade disputes threaten future economic stability.
US Forces Reroute 75 Vessels as Iran Loses Leverage in the Strait of Hormuz, Says Centcom
US forces have redirected 75 vessels away from Iranian ports as officials report Iran is losing leverage over the Strait of Hormuz amid escalating sanctions and regional diplomacy.
Iran Restores 40% Capacity at South Pars Gas Field Following Israeli Attack
Iran reports that 40 percent of the capacity at the South Pars gas field has been restored following an Israeli strike, though full rebuilding efforts are expected to take at least two years.
Central Bank of Egypt Issues Urgent Warning Against Sharing One-Time Passwords
The Central Bank of Egypt has issued a strict warning urging bank customers never to share their One-Time Passwords, highlighting severe risks of fraud, unauthorized purchases, and fund transfers.
Inside the Finances of Dubai Entrepreneur Ilia Sheludiakov: 'I Pay Myself Dh50,000 a Month'
Dubai-based entrepreneur Ilia Sheludiakov discusses his journey from Moscow marketing to building a successful real estate and investment portfolio, detailing his Dh50,000 monthly living budget.
QatarEnergy Extends LNG Force Majeure for Pakistan, Bangladesh, and Italy Amid Ongoing Strait of Hormuz Disruption
QatarEnergy has extended its LNG force majeure for buyers in Pakistan, Bangladesh, and Italy as security concerns continue to disrupt shipping through the Strait of Hormuz.
Police Deploy Teargas as Kenyan Traders Protest Import Tax Hikes
Police fired teargas at Kenyan traders who were protesting against higher taxes on imports.
Escalating US-Canada Trade War Sparks Growing Fears of an Economic Recession
Tensions and retaliatory tariffs between the US and Canada have escalated, raising serious concerns over potential job losses and a looming economic recession.
Walmart Reaches Settlement with US Government Over Opioid Lawsuit
Walmart has settled a United States Department of Justice lawsuit accusing the retail giant of fueling the opioid epidemic through unlawful prescription dispensing.
Iran Admits Heavy Economic Toll from US War, Vows Continued Defense and Diplomacy
Iran's leaders have acknowledged that six months of war and US sanctions have severely impacted foreign trade and driven up inflation. Despite the economic toll, Tehran has pledged to balance ongoing defense efforts with renewed diplomatic engagement.
Devastating Nepal-Tibet Floods Highlight Escalating Global Economic Toll of Climate Disasters
The devastating Nepal-Tibet floods underscore the rising human and economic tolls of natural disasters amid accelerating climate change. Experts warn that extreme weather events are becoming increasingly severe and costly on a global scale.
Egypt and Singapore Explore Ways to Deepen Bilateral Trade and Investment Partnerships
Investment and Foreign Trade Minister Mohamed Farid Saleh met with Singaporean Ambassador Dominic Goh to discuss expanding trade, boosting mutual investments, and enhancing economic cooperation between Egypt and Singapore.
Trump Announces Massive US-Venezuela Oil Deal to Revive Energy Sector and Lower Gas Prices
President Donald Trump announced a historic agreement giving the United States majority control over 65 billion barrels of Venezuela’s oil reserves to lower gas prices and revitalize the OPEC nation's economy.
UAE Property Dilemma: Should You Pay Off Your Mortgage Early or Invest in Another Real Estate Asset?
Experts analyze whether UAE homeowners should pay off their mortgages early or invest in additional property, alongside advice on whether to sell a home in a booming market.
US Central Command Redirects 82 Vessels Amid Escalating Strait of Hormuz Crisis and Iran Sanctions
US forces have successfully redirected 82 vessels from Iranian ports as international pressure mounts, new sanctions threaten Iran's economy, and the crisis in the Strait of Hormuz continues to disrupt global energy markets.
Dubai Unveils Two New Emirates Road Lanes to Slash Sharjah Commute Times
Dubai is opening two new lanes on Emirates Road on Sunday to reduce congestion and cut travel times between the emirate and Sharjah by up to 25 per cent.
Trump Announces Landmark US-Venezuela Oil Deal to Double American Reserves and Lower Gas Prices
President Donald Trump announced a new oil agreement with Venezuela to secure majority control over 65 billion barrels of reserves, a move intended to double US reserves and lower gas prices.
Trump Announces US Move to Secure 65 Billion Barrels of Venezuelan Oil Reserves
US President Donald Trump announced plans for the US to take control of over 65 billion barrels of Venezuelan oil to lower energy prices and ease inflation for Americans.
US Fed Chair Kevin Warsh Hints at Potential Rate Hikes Amid Slow Inflation Progress
US Federal Reserve Chairman Kevin Warsh indicated that interest rate hikes may be necessary as progress toward the central bank's 2 percent inflation target remains insufficient.
Federal Reserve Chair Kevin Warsh Warns of Persistent Inflation Risks During Jackson Hole Speech
Federal Reserve Chairman Kevin Warsh warned of persistent inflation risks during his inaugural Jackson Hole address, signaling that the central bank may continue its fight against rising prices.
Strait of Hormuz Closure Will Impact Global Food and Economy Through 2027, Warns Red Cross Official
A top Red Cross official warns that the closure of the Strait of Hormuz will cause long-lasting economic and humanitarian fallout extending into 2027. Aid workers globally are also facing severe security threats and funding cuts.
US Sanctions and Middle East Blockades Threaten China's Vital Iranian Oil Supply
New US sanctions and ongoing Middle East blockades are severely threatening China's imports of discounted Iranian crude, forcing Beijing to rely on commercial inventories and alternative routes.
QatarEnergy Extends Italy LNG Supply Suspension Through November Following Facility Damage
QatarEnergy has extended its suspension of liquefied natural gas deliveries to Italy until November following facility damage caused by Iranian strikes in March.