The European Commission has ruled that Ireland must recover up to AED 52 billion in back taxes from Apple. After a three year long investigation they concluded that the US firm’s tax benefits were illegal. The Commission said Apple was coughing up substantially less than other businesses, in effect paying a corporate tax rate of 1%. Ireland has responded saying they profoundly disagree with the ruling.

Standard Chartered issues clarification on local operations
DP World reports record $24.4bn revenue for 2025
IEA proposes record release of strategic stocks in response to Iran war oil price surge
H.H. Sheikh Hamdan highlights economic resilience at Dubai Majlis
Oil sinks 11% as Trump predicts Middle East de-escalation
