Economy

Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and Principal Chairman of the Annual Meeting of Global Future Leaders, announced that the next edition of the Annual Meeting of Global Future Leaders will take place in Dubai from 12th to 14th October 2027. He said the Annual Meeting of Global …

The dollar headed for its first weekly fall in five weeks on Friday, lifting the euro from a 17-month low as wobbles in AI investment and a drop in US yields put the brakes on recent gains. Moves in the Asia morning were slight, leaving the dollar down 0.2 percent …

Oil prices settled mixed on Thursday as investors weighed the prospect of the United States easing restrictions on the so-called “shadow fleet” of oil tankers against a persistent geopolitical risk premium stemming from developments in the Middle East. Brent crude futures edged down 14 cents, or 0.13 per cent, to …

Gold rose more than 1 percent on Thursday, rebounding from a one-week low hit in the previous session. Spot gold was up 1.3 percent at $4,158.63 per ounce, as of 02:57 GMT, after hitting its lowest since 7th October on Wednesday. ⁠US gold futures for December delivery rose 1.8 percent …

Oil prices fell by more than US$1 in early trading on Thursday. Brent crude futures fell 1.31 percent to US$104.67 per barrel, while US West Texas Intermediate (WTI) crude futures dropped 1.07 percent to US$94.07 per barrel as of 01:16 GMT, reversing gains from the previous session.

 Italian Prime Minister Giorgia Meloni acknowledged on Monday that “Italian growth is weak” but praised the resilience of the economy and how it “withstood the wave of shocks” it has been hit by in recent years. Speaking at the general assembly of the Assolombarda industry association in Milan, Meloni thanked …

China announced on Monday that it will cut the value-added tax (VAT) export rebate rate for new energy vehicles (NEVs), including battery electric and plug-in hybrid vehicles, to 9 percent from 13 percent starting 1st April 2027, according to a statement jointly issued by the Ministry of Finance and the …

The Republic of Korea’s exports more than doubled from a year earlier during the first 10 days of October, customs data showed Monday, on the back of the global semiconductor upcycle. Outbound shipments reached US$26.1 billion in the 1st-10th October period, according to data from the Korea Customs Service. It …

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with Gan Kim Yong, Deputy Prime Minister and Minister for Energy, Trade and Industry of the Republic of Singapore, and Dr. Tan See Leng, Minister for Energy, Trade and Industry, to discuss ways to deepen trade and investment …

The UAE Banks Federation (UBF), the sole representative and unified voice of banks in the UAE, affirmed that the selection of UBF’s representative to the Supervisory Board of the Society for Worldwide Interbank Financial Telecommunication (Swift), reflects global confidence in the UAE’s position and the advancement of its payments ecosystem, …