Business

Bangladesh and the World Bank have signed two financing agreements worth $850 million to strengthen the South Asian country's trade capacity, create jobs and modernise its social protection system.

Saudi Arabia and India agreed to boost cooperation in supplies of crude and liquefied petroleum gas, according to a joint statement reported by the Saudi state news agency on Wednesday following a visit by Prime Minister Narendra Modi.

Tesla CEO Elon Musk said he would cut back significantly the time he devotes to the Trump administration from next month and spend more time running his many companies.

Dubai is taking another major step in its digital transformation with the launch of a groundbreaking AED 2 billion hyperscale data centre.

Dubai Taxi Company (DTC) will strengthen its electric taxi fleet with 200 BYD sedans under a new partnership with Al-Futtaim Electric Mobility.

US Vice President JD Vance and Indian Prime Minister Narendra Modi touted progress in talks for a trade deal between the two countries, their offices said, as New Delhi rushes to avoid US tariffs and court Trump's administration.

In a move to boost global cooperation and sustainable development, the UAE has appointed Badr Jafar as Special Envoy for Business and Philanthropy.

The UAE foreign trade touched AED5.23 trillion ($1.424 trillion) in 2024, a 49 per cent increase from AED3.5 trillion ($949 billion) in 2021, according to the World Trade Organisation's latest report.

Dubai Land Department (DLD) signed 11 agreements with diverse local and international entities during the International Property Show (IPS) 2025.

US President Donald Trump on Thursday signalled a potential end to the tit-for-tat tariff hikes between the US and China that shocked markets, and that a deal over the fate of social media platform TikTok may have to wait.

Abu Dhabi-based Mubadala Investment Company has signed an agreement to acquire a $600 million (around AED 2.203 billion) minority stake in private school operator Nord Anglia Education.

Chinese online marketplace Temu and fast-fashion retailer Shein will raise prices on their products next week as US President Donald Trump's crackdown on low-value imports and sweeping tariffs increase expenses for the companies known for their low-priced offerings.

The United States on Wednesday issued new sanctions targeting Iran's oil exports, including against a China-based "teapot" oil refinery, as President Donald Trump's administration seeks to ramp up pressure on Tehran.

A new study from the International Air Transport Association (IATA) has revealed that aviation and related tourism contributed $92 billion (AED 337.9 billion) to the UAE’s economy in 2023, making up 18.2 per cent of the country’s GDP.

Nvidia said it would take $5.5 billion (AED 20 billion) in charges after the US government limited exports of its H20 artificial intelligence chip to China, a key market for one of its most popular chips.

Chinese sellers of items from lunch boxes to appliances have taken to social media platform Rednote to generate sympathy purchases, telling domestic consumers they are offloading stock at bargain prices amid US tariffs.

The UAE and Japan have wrapped up their second Ministerial Meeting under the Comprehensive Strategic Partnership framework.

dnata has reached a significant milestone, handling over 1 million tonnes of cargo in Dubai between April 2024 and March 2025, the highest volume ever processed by the company in a 12-month period.

Noatum Logistics, an AD Ports Group company, has announced the acquisition of 152 long-haul transport trucks to enhance its freight forwarding operations in the Middle East.

dnata is to launch three major facility launches as part of global infrastructure investments exceeding $110 million (AED 404 million), as the air cargo industry gathers in Dubai for the World Cargo Symposium.

Dubai International Airport has maintained its position as the world’s busiest airport in terms of international passenger traffic for 2024, according to a report released by the Airports Council International (ACI) World.

Dubai is stepping up its stormwater drainage infrastructure, with Dubai Municipality awarding contracts worth AED 1.43 billion for four major projects under the 'Tasreef' initiative.

US President Donald Trump said he would be announcing the tariff rate on imported semiconductors over the next week, adding that there would be flexibility with some companies in the sector.

The UAE has marked the opening of its national pavilion at Expo 2025, Osaka, in the presence of Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Special Envoy of the UAE to Japan, Noura Al Kaabi, Minister of State.

US President Donald Trump's administration granted exclusions from steep reciprocal tariffs to smartphones, computers and some other electronics imported largely from China, providing a big break to tech firms like Apple that rely on imported products.

The UAE is reinforcing its status as a global hub for technology, innovation and investment, with a strong focus on advanced sectors like artificial intelligence and semiconductors.

Indian airline IndiGo will launch two direct daily flights connecting Fujairah with Mumbai and Kannur, starting May 15.

DP World has broken ground on a major new trade hub in Dubai — the Bharat Mart — aimed at boosting global market access for Indian businesses.

Britain's economy returned to growth in February with its fastest expansion in 11 months, beating economists' expectations and placing it on a slightly firmer footing as it braces for the impact of US tariffs.

The UAE and Ireland have signed an Memorandum of Understanding (MoU) to establish a Joint Economic Commission to facilitate ongoing dialogue and collaboration.

India’s top business school, IIM Ahmedabad, is set to open a new campus in Dubai, and plans are also underway for a UAE-India Friendship Hospital in the city.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, has inaugurated DP World's state-of-the-art Free Trade Warehousing Zone (FTWZ) in Mumbai.

A Global Cyber Security Centre of Excellence has been launched in Abu Dhabi, marking the UAE's collaboration with Google to use AI to advance digital infrastructure and ramp up cyber security.

Chinese companies that sell products on Amazon are preparing to hike prices for the US or quit that market due to US President Donald Trump's unprecedented tariff hikes, sellers and the head of China's largest e-commerce association said.

In a stunning reversal, US President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending global stocks rocketing higher.

Dubai Chambers have organised a high-level business meeting in Mumbai with key officials and business leaders from both the UAE and India.

China will impose 84 per cent tariffs on US goods from Thursday, up from the 34 per cent previously announced, its finance ministry said on Wednesday, firing the latest salvo in a global trade war sparked by US President Donald Trump.

Pakistan's national carrier has posted an annual profit for the first time in more than two decades ahead of a second attempt by the government to sell the airline, the country's defence minister said.

US President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104 per cent duties on Chinese goods, deepening his global trade war even as he prepared for negotiations with some nations.

South Korea on Wednesday announced emergency support measures for its auto sector, seeking to reduce the blow of US President Donald Trump's tariffs on a sector that has seen years of sharply rising exports to the United States.

A global trade war touched off by US President Donald Trump's sweeping tariffs escalated further on Monday, as Trump threatened to increase duties on China and the European Union proposed counter-tariffs of its own.

His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has held talks with his counterparts from Azerbaijan and Cyprus in Abu Dhabi.

More than 1,600 energy suppliers from around the world have gathered for a three-day showcase of the latest innovations and technologies at Middle East Energy 2025, running until April 9 at the Dubai World Trade Centre.

Abu Dhabi Customs has reported a 9 per cent increase in the emirate’s non-oil foreign trade in 2024, reaching AED 306 billion, up from AED 281.9 billion in 2023.

Futures tied to the S&P 500 index slumped further on Monday and were down more than 20 per cent from their all-time highs, putting the most closely followed benchmark for US equities on track to confirm a bear market.

The UAE's tourism sector generated AED 45 billion in revenue in 2024, a three per cent year-on-year growth, according to Minister of Economy and Chairman of the Emirates Tourism Council, Abdulla bin Touq Al Marri.

Britain softened demands on automakers to switch to production of electric vehicles on Monday, seeking to alleviate pressure on an industry left reeling from US President Donald Trump's tariffs.

US President Donald Trump warned foreign governments they would have to pay "a lot of money" to lift sweeping tariffs, characterising the duties as "medicine" and triggering further carnage across global financial markets on Monday.

The UAE, India, and Sri Lanka have signed an agreement to develop Sri Lanka into a strategic energy hub. 

European Union countries will seek to present a united front in the coming days against U.S. President Donald Trump's tariffs, likely approving a first set of targeted countermeasures on up to $28 billion of U.S. imports from dental floss to diamonds.

Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.

U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.

The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.

UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).

China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.

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.