Economy
Business and economy news
1126 articles in this section
KPMG Manager Fired After Facing Harassment Over Her Keffiyeh, Accuses Firm of Retaliation
A KPMG manager reports that she was fired after experiencing workplace harassment over her keffiyeh.
Europe Unveils Subsidies and Tax Cuts to Combat Soaring Energy Costs Amid Global Conflict
European governments are introducing subsidies and tax cuts to ease the burden of soaring energy costs driven by conflicts in the Middle East. However, critics argue these short-term measures fail to address the underlying structural vulnerabilities in energy systems.
UAE Central Bank Imposes Transaction Ban on Bank Melli Iran Over AML Violations
The UAE Central Bank has banned Bank Melli Iran from conducting transactions between its UAE branches and Iran due to anti-money laundering and regulatory violations.
IOM Chief Declares No Legal Basis for International Strait Fees
The IOM chief asserts there are no legal grounds for fees on international straits, while Priests Against Genocide display a shroud with the names of children killed in Gaza.
UAE Central Bank Blocks Bank Melli Iran Transactions Amid Escalating Regional Tensions
The UAE Central Bank has barred Bank Melli Iran from conducting transactions as oil hits $100 a barrel and regional tensions continue to escalate around Iran peace talks and conflicts.
Oil Prices Hover Near $100 a Barrel Amid Iran Peace Talks and Saudi Supply Recovery
Oil prices hovered near $100 a barrel as diplomatic talks between the US and Iran continued in New York and Saudi Arabia worked to restore crucial supply routes.
As Xi Meets Trump: Analyzing the State of the US-China Trade War
As Presidents Donald Trump and Xi Jinping prepare for high-level talks, bilateral trade between the US and China has sharply declined amid ongoing tariffs and technological rivalry. However, China continues to expand its exports globally while the US trade deficit remains stagnant.
Abu Dhabi Extends Mandatory Occupancy Certificate Deadline to November 30 for Property Owners
Abu Dhabi has extended the deadline for property owners to obtain mandatory occupancy certificates to November 30, with fines up to Dh1 million for non-compliance.
Supertanker Earnings Skyrocket Near $650,000 Per Day Amid Deepening Middle East Supply Disruptions
Supertanker earnings have surged to nearly $650,000 per day as ongoing Middle East disruptions squeeze global shipping capacity and force tankers into longer journeys.
US Energy Adviser Urges Gulf States to Build New Oil Routes Bypassing Strait of Hormuz
A top US energy adviser stresses the urgent need for Gulf states to develop alternative oil transit routes that bypass the Strait of Hormuz to secure global energy supplies amidst ongoing Middle East conflicts.
Europe's Leading Private Markets Firm EQT Establishes First Middle East Hub in Abu Dhabi
Europe's largest private markets investment firm, EQT, is establishing its first Middle East office in Abu Dhabi's ADGM to tap into regional investment opportunities across the Gulf.
Nasdaq Reaches Record High as Artificial Intelligence Boom Overcomes Market Headwinds
Wall Street's Nasdaq hit an all-time high as strong enthusiasm for artificial intelligence overshadowed broader market concerns and geopolitical tensions.
Iran Suspends Flights to Baghdad and Muscat Ahead of Impending US Aviation Sanctions
Iran cancels flights to Baghdad and Muscat ahead of new US aviation sanctions that threaten global service providers with financial penalties.
NYC Mayor Mamdani Secures Record $131M Settlement with DoorDash for Underpaid Workers
New York City Mayor Zohran Mamdani announced a record-breaking $131m settlement with DoorDash to compensate 260,000 underpaid delivery workers.
Echoes of History: How Sudan's Ongoing War is Fueling a Catastrophic Man-Made Famine
As ongoing conflict devastates Sudan, historians and activists warn that the current man-made food crisis is echoing the worst historical famines in the country's memory.
Sharjah's Al Taawun Square Set to Reopen Ahead of Major Book Fair
Al Taawun Square in Sharjah will reopen on November 4 ahead of the Sharjah International Book Fair to ease visitor congestion, alongside updates on ongoing tunnel and lake projects.
Manchester Set to Replace London as Host for Prestigious Global Investment Summit
Manchester is heavily favored to host the spring 2027 Global Investment Summit instead of London, aligning with Prime Minister Andy Burnham's push to decentralize economic power to northern England.
Global Oil Prices Drop Below $100 Amid Hopes of Strait of Hormuz Reopening and Saudi Pipeline Restart
Oil prices dropped below $100 a barrel as expectations grew for the reopening of the Strait of Hormuz and the restart of Saudi Arabia's East-West pipeline.
Egyptian Expatriate Remittances Surge to $29.7 Billion in First Seven Months
Remittances from Egyptians working abroad surged by 28.1 percent to reach approximately $29.7 billion during the first seven months of 2026, according to the Central Bank.
PhonePe Expands Into UAE to Streamline Financial Services for Indian Expats
Indian digital payments firm PhonePe has received in-principle approval from the UAE Central Bank to launch retail payment and money transfer services in the Emirates, enhancing financial access for millions of Indian expats.
Saudi Arabia Resumes East-West Pipeline Operations Following Drone Attacks
Saudi Arabia has restarted operations at its East-West Pipeline following a previous shutdown caused by drone attacks, while oil exports through the Strait of Hormuz continue to ramp up.
New Zealand Eases UAE Travel Restrictions, Providing a Welcome Boost to the Recovering Tourism Sector
New Zealand has lowered its travel advisory for the UAE, providing a much-needed boost to the region's recovering tourism sector as visitor numbers rebound.
UAE Cracks Down on Fake Emiratisation with 377 Violations Detected in Private Sector
The UAE Ministry of Human Resources and Emiratisation has detected 377 fake Emiratisation cases across 266 private companies during the first half of 2026, prompting strict legal action and fines.
Egypt Prioritizes Welfare of Workers in Lebanon and Enhances Labor Partnerships
Egyptian Minister of Labor Hassan Raddad met with Ambassador-designate to Lebanon Tamim Khalaf to discuss enhancing worker protection and strengthening bilateral labor cooperation.