Economy
Business and economy news
1128 articles in this section
Volkswagen Strikes Deal to Convert German Plant Into Israeli Defence Hub
Volkswagen has agreed to transition its Osnabrueck factory in Germany into a military manufacturing hub in partnership with Aurelius Capital and Rafael Advanced Defence Systems, saving 1,400 jobs amidst major corporate restructuring.
Gulf Continues to Attract Foreign Investment Despite Regional Conflict and Economic Uncertainty, Says GCC Secretary General
GCC Secretary General Jasem Al Budaiwi stated that the Gulf economic bloc continues to draw robust foreign investment and maintain market stability despite ongoing regional conflicts and energy sector volatility.
US Trade War with Iran Poses Potential Threat to Spain's Iconic Saffron Supply for Paella
United States threats of strict trade sanctions against Iran have sparked concern among Spanish exporters who rely heavily on Iranian saffron for the traditional dish paella.
Strait of Hormuz Tensions: Can Iran Successfully Enforce a New Maritime Restricted Zone?
Iran plans to establish a new restricted zone around the Strait of Hormuz following a breakdown in a temporary maritime truce, raising concerns over global energy supplies and ongoing vessel security.
Global Shipping Threatened by Severe Fuel Shortages Amid Ongoing Wars in Iran and Ukraine
Global shipping faces a mounting crisis as wars in Iran and Ukraine, coupled with refiners prioritizing diesel, trigger a severe shortage and price surge in essential ship fuel.
Prime Minister Mostafa Madbouly Inaugurates First Phase of $20 Million Designy Doors Factory in Sokhna
Prime Minister Mostafa Madbouly inaugurated the first phase of the Designy Doors factory in the Sokhna Integrated Industrial Zone, a $20 million project aimed at boosting domestic production and exports.
US Consumers Shell Out $100 Billion Extra on Fuel Amid Prolonged War on Iran
A new tracker reveals that US households have spent an extra $100bn on fuel during the first six months of the war on Iran, driving up living and grocery costs nationwide.
Prime Minister Mostafa Madbouly Emphasizes Healthcare Localization to Drive Self-Sufficiency
Prime Minister Mostafa Madbouly inaugurated two specialized medical manufacturing factories in the Sokhna Industrial Zone, emphasizing the importance of healthcare localization to meet domestic needs.
Aldar Launches Wellness-Focused Sei Saadiyat Development in Abu Dhabi with Zen Gardens and Serenity Pools
Aldar Properties has launched Sei Saadiyat, a wellness-focused residential development in Abu Dhabi's Saadiyat Cultural District featuring Zen gardens, serenity pools, and 778 total homes.
Egypt's Petroleum Minister Outlines Ambitious Five-Year Expansion Plan for Coop Petroleum
Egyptian Petroleum Minister Karim Badawi has directed Coop Petroleum to develop an ambitious five-year growth plan following a fiscal year marked by record profits and surging marine bunker sales.
Germany and UAE Eye Stronger Economic and Defense Ties Amid Growing Regional Security Challenges
Germany and the UAE are strengthening their long-term bilateral partnership, focusing on advanced technologies, renewable energy, and joint security ventures amid regional security challenges.
Iran Doubles Petrol Prices for Heavy Users Amid Severe Wartime Economic Strain
Iran has doubled petrol prices for heavy users amid a severe wartime economic crisis and plummeting currency value, sparking long lines at fuel stations and fears of renewed unrest.
UAE and Germany Strengthen Bilateral Ties with Focus on AI, Energy Transition, and Advanced Technology
President Sheikh Mohamed is set to visit Germany to advance five decades of diplomatic and economic ties, focusing on energy transition, advanced technology, and artificial intelligence.
Europe Faces Severe LNG Supply Crunch as Middle East Instability Threatens Winter Energy Security
Europe faces an acute energy crisis as dwindling gas reserves, ongoing disruptions in the Strait of Hormuz, and soaring global LNG prices threaten a difficult winter ahead.
Adidas Faces Potential Boycott Following Amputee Campaign Featuring Israeli Soldier
Adidas is facing a public boycott due to an amputee marketing campaign that features an Israeli soldier.
Kenya Targets Foreign Traders in Small Business Crackdown to Protect Local Retailers
President William Ruto has directed authorities to crack down on foreign nationals operating small retail shops and hawking in Kenya, aiming to protect local MSME traders while continuing to welcome high-capital foreign investment.
Adidas Faces Global Boycott Calls Over Advertising Campaign Featuring Former Israeli Soldier
Adidas is facing intense boycott calls and criticism for featuring a former Israeli soldier in an advertising campaign promoting a single-shoe service for amputees. Pro-Palestine activists, human rights campaigners, and public figures condemned the campaign as an affront to Palestinians affected by the ongoing conflict.
Severe Drought in Indonesia Leaves Rivers Dry and Filled with Dead Fish
A severe drought in Indonesia has caused rivers to vanish, leaving them completely dry and filled with dead fish.
Iran Vows Forceful Response as US Strikes Tankers and Maintains Naval Blockade
Iran has threatened harsher retaliation after the US military struck Iranian oil tankers and maintained a naval blockade in the Strait of Hormuz. The ongoing conflict continues to disrupt regional oil exports and heighten economic pressures.
US Federal Reserve Enters Quiet Period as Officials Weigh Potential Interest Rate Hike Amid Inflation Concerns
The US Federal Reserve has entered its quiet period as officials debate whether to raise interest rates amid persistent inflation and mounting pressure from the White House.
US Energy Secretary Defends Strait of Hormuz Oil Traffic Claims Amid Skepticism
US Energy Secretary Chris Wright defended administration claims regarding oil traffic through the Strait of Hormuz, maintaining that millions of barrels continue to pass despite conflicting shipping data.
Struggling to Survive: One Family's Daily Battle Against Hunger Amid Gaza's Food Crisis
Mervat Radwan struggles to feed her surviving family members and orphaned nephews in Gaza amid severe food shortages and soaring prices that limit them mostly to canned goods and aid.
Opec+ Maintains Oil Output Policy for October Amid Ongoing Iran Conflict and Market Volatility
Opec+ has left its oil output policy unchanged for October as continuing conflict between the US and Iran and the closure of the Strait of Hormuz keep global energy markets volatile.
Iraq Restores Oil Capacity to Three Million Barrels Per Day Despite Strait of Hormuz Disruptions
Iraq has raised its crude oil production capacity to three million barrels per day and boosted exports in September despite disruptions in the Strait of Hormuz. The country is negotiating tanker passage and developing alternative pipelines to bypass the ongoing conflict.