Adnoc, Petronas and Storegga team up for offshore carbon capture project
Energy giants Abu Dhabi National Oil Company (ADNOC) and PETRONAS along with Storegga have signed a joint study and development agreement (JSDA) to ...
Amazon stock tumbles 8% as profit, revenue outlook disappoints
Amazon's (AMZN) stock fell more than 8% Friday after the retail and cloud giant offered a current quarter forecast on Thursday that fell short of e ...
UAE Central Bank follows US Fed move, holds rates at 5.4%
The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40%. This ...
EU Council launches investigation into 7 countries due to extreme budget deficits
The Council of the European Union has launched an investigation into 7 countries due to extreme budget deficits, Trend reports. The list in ...
Oil falls 1.5%, ends week lower on China demand fears
Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease ...
UAE, Mauritius sign CEPA to boost trade, investment
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Pravind Kumar Jugnauth, Pr ...
GCC economic growth to rebound to 4.7% in 2025 – World Bank
The World Bank has revised the economic growth forecast for the Gulf Cooperation Council (GCC) region to 4.7% in 2025, up from the previous project ...
IMF expects UAE economy to grow by 4% in 2024
The International Monetary Fund (IMF) expects the real gross domestic product (GDP) of the UAE to grow by 4 percent in 2024. In a statement ...
Saudi Arabia’s holdings in US treasuries rise to $135.9bn
Saudi Arabia’s holdings in US treasuries increased for the eighth consecutive month in March, reaching $135.9 billion, a rise of 3.66 percent ...
Oil Updates – crude set for weekly gain as demand signs, geopolitics seen as positives
Oil rose on Friday, set for a weekly gain, as data this week from the US and China, the world’s two largest crude users, pointed to higher de ...
Gold price pushes down to $2,300 threshold after US employment costs rise
The Gold price (XAU/USD) weakens to just above the $2,300 level during the US session on Tuesday, on the back of a positive market mood denting saf ...
Oil prices down on Gaza ceasefire talks, flat on the week
 Oil prices slipped on Friday and were flat on the week as the possibility of a ceasefire in Gaza weakened crude benchmarks, while the war in ...
UAE’s industrial exports surge by 60% to $50bn in 3 years: minister
The UAE’s industrial exports surged by 60 percent over the past three years, amounting to a projected 187 billion dirhams ($50.9 billion), ac ...
US Senate Refuses To Fast-Track TikTok Bill
A bill that would force the sale of TikTok from its Chinese owners or see it banned in the United States will move cautiously in the US Senate, key ...
Oil prices up 3% to 4-month high on US crude stock drop, Russian refinery attacks
Oil prices rose about 3% to a four-month high on Wednesday on a surprise withdrawal in U.S. crude inventories, a bigger-than-expected drop in U.S. ...
Abu Dhabi sets up technology investment company MGX amid AI push
Abu Dhabi has set up a new technology investment company, MGX, to expedite the development of artificial intelligence and other advanced technology ...
Oil prices up as world's top consumers boost demand
Oil prices rose on Friday, driven by growing demand in the United States and China, the world's biggest oil consumers, and as the U.S. Federal Rese ...
Amazon Web Services among firms investing over $10 billion in Saudi Arabian data centers
Saudi Arabia said firms including Amazon Web Services will invest over $10 billion in building data centers in the country as the desert kingdom tr ...
Egypt received $5 bln as 1st batch from Ras El-Hekma deal
A second batch of $5 billion will be received on Friday, Madbouly added in a cabinet meeting on Thursday. Apart from the 35 percent stake i ...
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