Economy
Business and economy news
1126 articles in this section
Canada Fires Back with Counter-Tariffs on Over 700 US Products Amid Escalating Trade War
Canada has announced retaliatory tariffs on over 700 US products, matching recent duties imposed by US President Donald Trump as trade negotiations between the two nations collapse.
Media Giant Axel Springer Expands into the UAE with New Abu Dhabi Director
European media conglomerate Axel Springer is expanding into the UAE by appointing Frank Mahlberg as its new Middle East managing director based in Abu Dhabi.
Dubai International Airport Chief Confident DXB Will Retain World's Busiest Hub Crown Despite Conflict
Dubai International Airport expects to maintain its ranking as the world's busiest international hub this year despite a second-quarter traffic drop caused by regional conflict.
Iran's Bazaar Merchants Face Severe Economic Pressure as Rial Plummets to Record Low
Iran's bazaar merchants are struggling to keep their businesses afloat as a collapsing currency, rising rents, and new US sanctions deepen the country's economic crisis.
UAE School Bus Operator Emirates Transport Shields Parents from Rising Fuel Costs
Emirates Transport has assured UAE parents that rising fuel costs will not affect school bus fees, thanks to improved route efficiency and advanced technology.
Iran's Historic Bazaar Squeezed as Rial Plummets to Record Lows
Iran's bazaar merchants are facing severe financial strain as the rial hits a record low against the US dollar, compounded by rising rents, inflation, and new American sanctions.
Chinese Imports of Iranian Oil Plummet Nearly 50 Percent Amid Middle East Conflict
Chinese imports of Iranian oil have fallen by nearly half as ongoing conflict and blockades disrupt critical shipping lanes through the Strait of Hormuz and the Bab Al Mandeb.
India Opens Sensitive Defence Sector to Private Companies by Sharing Missile Technology Secrets
India's Defence Ministry has approved the transfer of DRDO-developed missile technology to private companies, marking a major shift to boost domestic manufacturing and end state monopolies.
UAE Shoppers Adopt Smart Strategies as Gold Prices Surge to Three-Month High
UAE residents are navigating a three-month high in gold prices by adopting smart shopping habits, choosing lightweight jewellery, and investing in smaller coins and bars.
Oil Prices Plunge to One-Month Low Amid US-Iran De-escalation and Oman Talks
Oil prices dropped to a near one-month low as constructive talks between Oman and Iran and expectations of halted US strikes eased geopolitical tensions.
Dubai Enforces Strict New Shared Housing Law to Combat Overcrowding and Fire Hazards
Dubai has enacted a new law regulating shared accommodation to combat overcrowding, improve safety standards, and impose strict penalties for illegal partitions.
Dubai International Airport Anticipates Robust Recovery in Second Half After Iran Conflict Impacts Q2 Growth
Dubai International Airport expects a stronger second-half recovery as airlines restore networks and traffic rebounds following Q2 disruptions caused by the Iran conflict.
Startup Executive Earning Dh200,000 Monthly Shares Wealth Wisdom and the Importance of Saving for Rainy Days
Harsh Garg, a high-earning tech executive and start-up co-founder based in Dubai, shares his financial journey, investment strategies, and the importance of saving for uncertain times.
UAE Ministry of Finance Outlines New Filing Obligations for Multinational Top-Up Tax
The UAE ministry of finance has released a new decision specifying filing obligations for the domestic minimum top-up tax under the OECD Pillar Two framework for large multinationals.
Inside Iran's Economic Crisis: The Iranian Rial Plummets to 2 Million Per US Dollar
The Iranian rial has crashed to a historic low of 2 million per US dollar, driving skyrocketing inflation and severe hardship for everyday citizens amid renewed sanctions and conflict.
Egypt Advances Dabaa Nuclear Project with Rosatom Amid Leaked Safety Concerns
Egypt is pressing forward with its Dabaa nuclear power plant in talks with Russia's Rosatom, even as leaked documents highlight significant construction and safety concerns.
Egypt and Italian Firms Advance $278M Bioethanol Production Initiative
Minister of Investment and Foreign Trade Mohamed Farid met with Italian firms Proger and Draxil to review the development of a $278 million bioethanol project using sugarcane bagasse.
Egypt's Electricity Minister Evaluates Dabaa Nuclear Progress and SMR Collaboration with Rosatom in Russia
Minister of Electricity and Renewable Energy Mahmoud Esmat met with Rosatom Director General Alexei Likhachev in Russia to review al-Dabaa Nuclear Power Plant construction and discuss potential cooperation on Small Modular Reactors.
Emirates Global Aluminium Progresses to 25% Restoration at Al Taweelah Smelter Following Iran Strike
Emirates Global Aluminium has reached 25 per cent completion in restoring its damaged Al Taweelah plant following an Iranian strike, targeting full production by the first quarter of next year.
Operation Economic Outcast: Assessing the Limits and Risks of New US Sanctions on Iran
The United States has unveiled Operation Economic Outcast, a new campaign of sanctions against Iran, but experts question its ultimate impact and note the risks of targeting Chinese banks.
UK Think Tank Proposes International AI Token Tax to Bridge Fiscal Deficit
A UK think tank report authored by Oxford professor Ben Ansell suggests an international AI token tax and domestic wealth reforms to address future government revenue gaps driven by an aging population.
Dubai's E-Commerce Blueprint Powers New Digital Super App to Revive Syria's Market
Syrian entrepreneurs are utilizing Dubai's e-commerce model to launch My Syria, a new super app bringing digital payments and online booking back to Syria's emerging market.
Trump's New Economic War Against Iran Relies on Beijing—Will Xi Jinping Cooperate?
As the US launches a new economic campaign against Iran, Washington faces the difficult challenge of securing China's cooperation. Beijing has strongly rejected unilateral sanctions and vows to protect its trade interests.
US Launches Operation Economic Outcast: How Secondary Sanctions Target Iran's Global Partners
The United States has introduced 'Operation Economic Outcast', threatening secondary sanctions against any nation or entity trading with Iran in a bid to sever Tehran's remaining economic lifelines.