Economy
Business and economy news
1542 articles in this section
Egypt and UNDP Explore New Initiative to Safeguard Red Sea Coral Reefs
Egypt's Local Development and Environment Minister Manal Awad met with UNDP Deputy Resident Representative Ghimar Deeb to establish a fund protecting Red Sea coral reefs.
Libya Seeks Up to $40 Billion to Unlock Vast Oil and Gas Potential Amid Security Challenges
Libya's National Oil Corporation is seeking up to $40 billion in investments to revive its oil and gas sector and increase production, despite ongoing political instability and security threats.
Iraq Revives Longstanding Plan to Delete Zeros from Dinar Amid Deepening Budget Squeeze
Iraq is reviving discussions to remove zeros from the dinar to address a severe budget squeeze, combat idle hoarded cash, and restore currency value.
Dubai Advances Mega Rail Project to Connect DXB and DWC Airports with Five-Station Express Line
The Roads and Transport Authority has received six bids for a 55-kilometre train line connecting Dubai International Airport and Al Maktoum International Airport.
Top Russian Economist Ousted Following Public Warning Over Mounting Ukraine War Costs
Andrey Klepach has been removed from his position as chief economist at Russia’s state development bank VEB after publicly warning that the war in Ukraine is harming the Russian economy.
Manus on Markets: How Claude is Fueling Explosive Growth for Anthropic
Manus Cranny examines the latest global financial trends, highlighting how Claude is driving explosive growth for Anthropic alongside other major world news.
Canada Scrambles Against Time and Politics to Head Off Sweeping US Tariffs
Canada is racing against a Wednesday deadline to avert heavy US tariffs on billions in exports as trade negotiations with the Trump administration remain tense and complex.
Navigating the Ice: Can China's Arctic Sea Route Overcome Global Supply Chain Crises?
China has introduced a new Arctic shipping route known as the Ice Silk Road to bypass Middle East chokepoints and reduce travel times to Europe, though significant geopolitical and environmental challenges remain.
US Strategic Petroleum Reserve Plummets to 1982 Low Amid Middle East Energy Pressures
US crude oil reserves have dropped to their lowest level since 1982 as ongoing Middle East conflicts strain energy supplies and drive up petrol prices.
Strait of Hormuz Traffic Plummets to Single Digits as US-Iran Deal Expires
Vessel traffic through the Strait of Hormuz has dropped to single digits following the expiration of the 60-day US-Iran memorandum of understanding, leaving hundreds of commercial ships stranded.
Dubai Advances Major Infrastructure Project with Six Bidders for New Airport Express Line
The Roads and Transport Authority has announced six bidders to design and build the 55-kilometre Airport Express Line connecting Dubai International Airport and Al Maktoum International Airport.
US Awards Raytheon Massive $22.9 Billion Tomahawk Contract to Replenish Dwindling Stockpiles Amid Iran Conflict
The US has awarded RTX's Raytheon a $22.9 billion contract to significantly increase Tomahawk missile production as the Pentagon works to rebuild inventories depleted by the Iran conflict.
Saudi Wealth Fund PIF Reports Doubled Profits as Revenue Climbs to $120 Billion
The Saudi Arabia Public Investment Fund announced that its annual profit more than doubled to $17 billion as revenue rose to $120 billion, driven by strong portfolio contributions and domestic investments.
Masdar and ScottishPower Reach Major Milestone at Massive £4 Billion UK Offshore Wind Farm
Masdar and ScottishPower have completed the foundation installation for the massive East Anglia Three offshore wind farm off the English coast. The £4 billion project aims to generate 1.4 gigawatts of clean power for British homes while navigating complex national energy policy decisions.
Iran Facing 'Alarming' Inflation Crisis as Basic Foods Become Unaffordable
Inflation in Iran has surged to 66%, with state media reporting that basic foods like eggs, rice, and meat have become luxury goods for struggling families.
Erdogan Urges Reopening of Strait of Hormuz Following Oil Disruption
Erdogan calls for the reopening of the Strait of Hormuz in response to ongoing oil disruptions.
Egypt Advances Pumped-Storage Hydropower Project in South Sinai to Boost Grid Stability
Egypt's Electricity Minister Mahmoud Esmat met with the Renergy Group consortium to review progress on a 3,100-megawatt pumped-storage hydropower and solar project in South Sinai.
Egypt's Industry Minister Highlights Vital Role of Alloys in National Industrial Strategy
Industry Minister Khaled Hashem emphasized the importance of the alloys sector during a visit to the Abu Zenima Industrial Zone, highlighting its critical role in Egypt's industrial strategy and heavy manufacturing.
Egypt's Petroleum Minister Pushes for Accelerated Development of Harmattan Offshore Gas Field
Petroleum and Mineral Resources Minister Karim Badawi has ordered accelerated efforts to bring the Harmattan offshore gas field online to boost domestic gas supplies.
Inside the UK’s Grinding Cost of Living Crisis as PM Andy Burnham Pitches Overhaul
Donna O'Hara shares her struggles amid the UK's severe cost of living crisis while Prime Minister Andy Burnham proposes a 10-year plan for economic reform.
Iran Vows Retaliation as Trump and US Officials Signal Unprecedented Economic Chokehold
Iran has vowed to fight back after US President Donald Trump and Treasury Secretary Scott Bessent signaled plans to increase economic pressure and isolate the country.
Escalating Iranian Aggression in the Strait of Hormuz Demands Immediate International Response
Recent attacks on vessels by Iranian forces in the Strait of Hormuz threaten global energy supplies and economic stability, prompting calls for a united international and regional response.
How Rising Fuel Costs and Global Conflict Are Threatening Education on Cambodia's Tonle Sap Lake
Surging fuel prices driven by global conflict are forcing vulnerable children on Cambodia's Tonle Sap lake and beyond to skip school or drop out entirely to help support their families.
Iran's Economy in Freefall Leaves Citizens Struggling for Survival Amid Soaring Food Prices
Decades of sanctions, inflation, and ongoing conflict have pushed Iran's economy into a severe crisis, leaving citizens struggling to afford basic necessities and doubting their future.