Economy
Business and economy news
1126 articles in this section
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.
Crude Oil Prices Waver Between Geopolitical Risks and Diplomatic Breakthroughs
Crude oil prices have fluctuated between geopolitical tensions and diplomatic breakthroughs over a six-month Iran standoff, with Brent dropping below $90 a barrel as supply fears ease.
Europe Urges Bold AI Adoption to Reverse Declining Economic Influence
European leaders urge businesses to accelerate artificial intelligence adoption to combat economic decline and reduce heavy reliance on foreign technology.
Adnoc Academy Launches Landmark Training Drive to Empower Emirati Women in Energy Sector
Adnoc Technical Academy is welcoming Emirati women into its training programme for the first time, offering a 24-month diploma to prepare them for critical technical roles in the UAE energy sector.
UAE and Lebanon Spark New Era of Economic Ties Following High-Level Beirut Forum
The UAE has pledged strong economic support for Lebanon following a high-level business forum in Beirut, resulting in four new bilateral agreements and a surge of private-sector partnerships.
Saudi Arabia and Syria Establish Joint Bank to Drive Investment and Regional Ties
Saudi Arabia and Syria have launched a joint bank and signed major transport agreements to boost investment and rebuild the Syrian economy following the lifting of US sanctions.
Trump Orders Lake Ontario Renamed 'Lake America' Amid Collapse of US-Canada Trade Talks
US President Donald Trump has ordered Lake Ontario to be renamed Lake America following the collapse of trade negotiations with Canada, which also triggered sweeping new tariffs from both nations.
UAE Venture Capital Set to Focus on Supply Chains and Top Talent
Venture capital in the UAE is poised for growth driven by supply chain innovations and top-tier talent, despite regional geopolitical shifts. Funding in the Emirates reached a record $419 million in the first quarter of 2026.
US and Canada Trade War Threatens Up to 90,000 Jobs
A developing trade war between the US and Canada poses a severe economic threat, potentially costing up to 90,000 jobs.