Business

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has taken part in the BRICS Leaders Virtual Summit, hosted by Brazil’s President Luiz Inácio Lula da Silva.

His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, attended the opening of the 28th Universal Postal Congress, which is being held in Dubai under the theme 'Leading Change, Creating the Future'.

Eight OPEC+ members agreed to raise oil production by 137,000 bpd in October, the group said in a statement on Sunday.

Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, chaired the first meeting of the UAE Logistics Integration Council, stating it aims to increase the logistics sector’s contribution to the national economy from approximately AED136.7 billion in 2024 to over AED200 billion within seven years.

The UAE's real GDP grew by 3.9 per cent, reaching AED 455 billion during the first quarter of 2025, compared to the same period in 2024.

Dubai Chambers has signed a Memorandum of Understanding (MoU) with the Victorian Chamber of Commerce and Industry in Australia to enhance cooperation in attracting Australian companies to Dubai and supporting the expansion of Dubai Chamber of Commerce members into Victoria.

US President Donald Trump signed an executive order offering some tariff exemptions as soon as Monday to trading partners who strike deals on industrial exports such as nickel, gold and other metals, as well as pharmaceutical compounds and chemicals.

Tesla's board has proposed a $1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse.

US President Donald Trump signed an order on Thursday to implement lower tariffs on Japanese automobile imports and other products that were announced in July, providing some relief to Japan's export-heavy economy.

Dubai Holding Asset Management (DHAM) has announced 'Dubai Retail' as the unified brand for more than 40 shopping and lifestyle destinations under its umbrella.

Some Google services including YouTube temporarily went down on Thursday in Turkey and some parts of Europe including Greece and Germany, according to a Turkish deputy minister, internet monitors and users in the regions.

Indian Finance Minister Nirmala Sitharaman has announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand in the face of economic headwinds from US tariffs.

Google won't have to sell its Chrome browser, a judge in Washington said on Tuesday, handing a rare win to Big Tech in its battle with US antitrust enforcers, but ordering Google to share data with rivals to open up competition in online search.

Nestle has fired its CEO Laurent Freixe after just one year in the job after an investigation into an undisclosed "romantic relationship", ousting its second CEO in a year and throwing the Swiss food giant into its deepest leadership chaos in decades.

Jaguar Land Rover's retail and production activities have been "severely disrupted" following a cybersecurity incident, the British luxury carmaker said on Tuesday, adding that it was working to restart its operations in a controlled manner.

Russia agreed to supply more natural gas to China and signed a memorandum on building the vast Power of Siberia 2 pipeline, but has yet to agree on pricing for one of the world's most expensive gas projects, Gazprom said on Tuesday.

The "Red Carpet" corridor has been officially installed to fast-track passport control procedures at the Dubai International Airport using AI and biometrics.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, has underscored the importance of the UAE’s economic relationship with India during an official visit to Mumbai.

A new $250 (AED 918.12) "visa integrity fee" imposed on travellers to the US risks piling more pressure on the struggling travel industry, as overseas arrivals continue to fall due to President Donald Trump's crackdown on immigration.

Alphabet-owned YouTube and Fox announced they have reached an agreement on Thursday that will keep Fox News, Fox Sports and other Fox channels available to YouTube TV subscribers.

The UAE and Angola have signed an agreement to establish the UAE-Angola Business Council, in a move aimed at strengthening economic relations and expanding investment opportunities.

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand, has officially come into force.

A new pilot programme will allow individuals and small business owners in the UAE to earn an extra income for carrying out Amazon deliveries on foot in densely populated areas.

US President Donald Trump's doubling of tariffs on goods from India to as much as 50 per cent took effect as scheduled on Wednesday, escalating tensions between the world's two largest democracies and strategic partners.

The Registration Authority of Abu Dhabi Global Market (ADGM) has issued financial penalties totalling $37,500 (AED 137,718) against Half Moon Investments Limited and three of its directors.

Indian exporters are bracing for disruptions after a US Homeland Security notification confirmed Washington would impose an additional 25 per cent tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation.

Drydocks World, a unit of DP World, has secured a landmark contract to build the world’s largest floating liquefied natural gas (FLNG) liquefaction facility off Mexico's west coast.

The UAE and Angola have taken a major step forward in strengthening economic relations.

Abu Dhabi National Energy Company (TAQA) has signed an agreement to gain full ownership of Madrid-based water company GS Inima for $1.2 billion, strengthening its position as a global low-carbon water champion.

Dubai has attracted 2,415 content creators from 147 countries, with a combined following of over 2.45 billion, in six months, as the country builds itself as the global capital of content economy.

Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported on Sunday citing the music streaming provider's Co-President and Chief Business Officer Alex Norstrom.

India's foreign minister said on Saturday that trade negotiations with Washington are continuing but there are lines that New Delhi needs to defend, just days before hefty additional US tariffs are due to hit.

President Donald Trump said on Friday the US would take a 10 per cent stake in Intel under a deal with the struggling chipmaker and is planning more such moves, the latest extraordinary intervention by the White House in corporate America.

Elon Musk tried to enlist rival Mark Zuckerberg for the $97.4 billion bid that his consortium made for OpenAI earlier this year, but the CEO of Meta Platforms did not come on board, OpenAI said in a court filing on Thursday.

The UAE Central Bank (CBUAE) increased its gold reserves by 25.899 per cent during the first five months of the year to AED 28.933 billion, up from AED 22.981 billion at the end of December 2024.

Italian fashion house Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Wednesday, adding he will take up the role at the start of September.

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will meet in New Delhi by the end of year, but no dates have been finalised yet, a Russian embassy official in India said on Wednesday.

India and China agreed on Tuesday to resume direct flights and step up trade and investment flows as the neighbours rebuild ties damaged by a 2020 border clash.

Air Canada's unionised flight attendants have reached an agreement with the country's largest carrier on Tuesday, ending the first strike by its cabin crew in 40 years that had upended travel plans for hundreds of thousands of passengers.

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment.

Expo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum.

More than 2,500 online travel agents, tour operators, hotel groups and airlines have signed on as Authorised Ticket Resellers (ATRs) for Expo 2020 Dubai.

A spectacular line-up of sights, sounds and tastes await visitors at Expo 2020 Dubai, through a series of specially curated itineraries.

Apple on Tuesday launched the iPhone 12 with faster 5G connectivity, which the company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.