Economy
Business and economy news
1128 articles in this section
US Targets Russia's VTB Bank in Latest Escalation of Economic Sanctions Against Iran
The US has imposed new sanctions on Russia's VTB Bank for allegedly helping Iran evade economic restrictions as part of an ongoing pressure campaign.
TotalEnergies Eyes 10% Stake in Ambitious Basra-Baniyas Pipeline Project
TotalEnergies is in active discussions to acquire a 10 percent stake in the consortium building the Basra-Baniyas pipeline, offering Iraq an alternative oil export route.
India Steps In to Supply Emergency Power to Nepal Following Devastating Floods
India has approved emergency electricity exports to Nepal to help the country manage severe power shortages after catastrophic floods wrecked its hydropower infrastructure.
Syrian Fuel Price Hikes Spark Protests and Test Public Patience Amid Post-War Recovery
Sudden fuel price hikes in Syria have ignited street protests and strained public patience, testing the government's efforts to rebuild the economy following years of war and international isolation.
JD Vance Asserts United States Has Control Over Houthi Movement in the Red Sea
JD Vance emphasizes that the United States is effectively managing the Houthi advance in the Red Sea as Middle East tensions impact global oil prices.
Air Arabia Consortium Cleared to Launch New Budget Airline in Saudi Arabia
Saudi authorities have granted an air operator certificate to an Air Arabia-led consortium to launch a new budget airline based out of Dammam, with plans to serve 81 destinations by 2030.
Etihad Airways Doubles Down on Luxury Travel with Stunning New Airbus Cabins
Etihad Airways has announced new luxury cabins for its Airbus A321LR and A330 Neo aircraft as part of a major fleet-wide upgrade strategy.
UAE Hospitality Sector Bounces Back from Iran War Fallout as Winter Tourism Boost Approaches
The UAE hospitality sector is showing strong signs of recovery following disruptions caused by the Iran war, with tourism leaders optimistic about a winter boost. Industry experts note shifting travel patterns and improving hotel occupancy rates as the market normalises.
Iran Conflict Threatens Gulf States' Multi-Trillion-Dollar US Investment Plans
A new Peterson Institute for International Economics report warns that the ongoing conflict with Iran is straining Gulf states' finances, potentially jeopardizing their multi-trillion-dollar US investment commitments.
Why Reopening the Strait of Hormuz Won't Immediately Fix the Global LNG Crunch
Industry executives warn that reopening the Strait of Hormuz will not immediately restore Qatari and UAE liquefied natural gas exports due to severe facility damage and soaring shipping costs. Supply constraints are expected to persist for months or even years.
Trump Urges Zelenskyy to Halt Strikes on Russian Refineries Amid Global Diesel Shortage
US President Donald Trump has asked Ukraine to halt strikes on Russian diesel refineries, blaming the attacks for contributing to a global diesel shortage as fuel prices surge ahead of US midterm elections.
Why Saudi Arabia's Critical East-Works Pipeline Shutdown Threatens Global Oil Markets
A drone attack on Saudi Arabia's vital East-West oil pipeline has forced a suspension of operations, compounding global energy pressures amid ongoing disruptions in the Strait of Hormuz and the Red Sea.
Dubai to Add Second Etihad Rail Station and Expand Public Transport Network
Dubai's Roads and Transport Authority has confirmed plans for a second Etihad Rail station in Meydan alongside major expansions to the city's metro and rail networks.
Abu Dhabi Crown Prince Sheikh Khaled Discusses Financial Ties and Growth with Citigroup CEO Jane Fraser
Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed met Citigroup CEO Jane Fraser to explore enhanced banking co-operation and sustainable economic growth.
Iraqi Prime Minister Visits France to Secure Energy Support Amid Hormuz Crisis
Iraqi Prime Minister Ali Al Zaidi met with French President Emmanuel Macron in Paris to discuss energy supply routes and security cooperation amidst the Hormuz crisis.
Why President Donald Trump’s Push for New Oil Refineries Will Not Lower Gas Prices
President Donald Trump's push for more domestic oil refineries will not solve persistently high gas and diesel prices due to long construction timelines and temporary global market disruptions.
Saudi Arabia Uncovers 110 Million Tonnes of Uranium Ore in Landmark Madinah Discovery
Saudi Arabia has discovered 110 million tonnes of uranium-concentrated ore in the Madinah region, marking a major milestone in the kingdom's economic diversification and energy development efforts.
Saudi Arabia Unveils Massive Uranium and Rare Earth Ore Discovery in Madinah Region
Saudi Arabia has announced the discovery of 110 million tonnes of ore containing uranium and rare earth elements in the Madinah region, bolstering the kingdom's mining and energy diversification efforts.
Syrians Launch Widespread Protests Over Shock Fuel Price Hikes
Syrians across northern cities staged angry protests for a second day after the government announced a sudden, steep increase in fuel prices, exacerbating widespread economic hardship.
Why Oil Futures Exceed $100 Despite US Claims of Clearing Strait of Hormuz Traffic
Oil prices have surged past $100 a barrel despite US assertions of clearing traffic in the Strait of Hormuz, driven by ongoing regional attacks and shipping disruptions.
UAE's Al Tajir Family Lists Scotland's Unopened gWest Golf Resort for Sale
The UAE's Al Tajir family has put the unopened Scottish golf resort gWest on the market, citing years of economic uncertainty and political challenges that stalled further investment.
Abu Dhabi's Miral Unveils Dh12 Billion Investment Plan for Yas Island Growth
Miral is investing Dh12 billion over five years to expand hotels and theme parks on Yas Island in Abu Dhabi, including new additions to Warner Bros and Ferrari World.
Etihad Airways Forecasts 2026 Break-Even Amid Robust Demand Despite Regional Conflict
Etihad Airways expects to break even this year due to strong passenger demand and a booming cargo business, overcoming challenges posed by the Iran war.
Egypt and Thailand Seek to Deepen Economic, Trade, and Investment Partnerships
Egypt and Thailand have held high-level discussions in Cairo to expand bilateral cooperation in trade, investment, industry, and education, aiming to leverage Egypt's strategic position as a regional hub.