Business News

Global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed.

The UAE and Canada will expand cooperation in several key sectors, including artificial intelligence, trade and energy.

Etihad Airways is re-routing several flights on Monday, June 23 and Tuesday, June 24 due to airspace restrictions across parts of the Middle East.

Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the "robotaxi launch" and social-media influencers posting videos of their first rides.

A US attack on Iranian nuclear sites could push oil prices even higher and trigger a knee-jerk rush to safety, investors said, as they assessed how the latest escalation of tensions would ripple through the global economy.

President Volodymyr Zelenskyy has called on Ukraine's Western partners to allocate 0.25 per cent of their GDP to helping Kyiv ramp up weapons production and said the country plans to sign agreements this summer to start exporting weapon production technologies.

A policy dialogue on women’s economic empowerment concluded in Dubai, with GCC countries backing efforts for joint legal reforms, childcare investment and enhanced knowledge exchange across institutions.

The UAE ranked 10th globally as a leading destination for inbound foreign direct investment (FDI) in 2024, with inflows reaching AED 167 billion.

Saudi Arabia's sovereign wealth fund PIF has launched a new unit that will be responsible to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia’s first World Expo.

Careem, Uber's ride-hailing arm in the Middle East, will suspend its Pakistan service on July 18, citing economic challenges, rising competition and capital constraints, ending its core business in a country where it helped pioneer app-based transport nearly a decade ago.

Meraas, part of Dubai Holding Real Estate, has awarded a construction contract worth over AED 450 million to Naresco Contracting for Central Park Plaza, a high-end residential development at City Walk.

Dubai International Chamber has launched a new representative office in Canada's Toronto, as it aims to bolster economic ties and explore avenues of increased investment between Dubai and Canada.

US President Donald Trump has signed an agreement formally lowering some tariffs on imports from Britain as the countries continue working toward a formal trade deal.

The Central Bank of the UAE (CBUAE) has revoked the licence of Sundus Exchange and removed it from its official register.

The Trump Organization launched a self-branded mobile service and a $499 smartphone on Monday, dubbed Trump Mobile, signalling a new effort to court conservative consumers with a wireless service positioned as an alternative to major telecom providers.

Nakheel, part of Dubai Holding Real Estate, has awarded three contracts worth over AED 750 million for major infrastructure works on Palm Jebel Ali.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has expressed confidence that the country will achieve its non-oil foreign trade targets four years ahead of schedule.

The UAE’s real GDP touched AED1.77 trillion in 2024, marking a 4 per cent growth, with non-oil sectors accounting for 75.5 per cent of the national economy.

The General Pension and Social Security Authority (GPSSA) has introduced an initiative to waive penalties for small private firms over delays in registering employees or processing end-of-service benefits.

Oil prices jumped nearly 9 per cent on Friday to near multi-month highs after Israel launched strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies.

Abu Dhabi’s hospitality sector continues to thrive, with hotel revenues hitting AED 611 million in March 2025.

KEZAD Group, one of the region's largest operators of economic zones, has announced plans for Abu Dhabi’s newest commercial destination – the KEZAD Business District.

The World Bank slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies.

Meraas, a member of Dubai Holding Real Estate, has announced the launch of Jumeirah Residences Emirates Towers, a bold new addition to Dubai’s iconic skyline.

Three of US President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has kept global markets on edge.

Formula 1 is hot on the tail of the big dog of professional sports marketing, the NFL, and cleared $2.04 billion in sponsorship revenue in 2024.

India's Prime Minister Narendra Modi said he looked forward to meeting his Canadian counterpart Mark Carney during the Group of Seven summit, after the latter invited him to the gathering over a phone call on Friday.

The Swiss National Bank (SNB) said on Friday it would intervene in foreign currency markets where necessary to keep inflation on track after the US added Switzerland to a list of countries being monitored for unfair currency and trade practices.

The US trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter.

Gaming fans queued up for the launch of Nintendo's Switch 2 on Thursday amid pent-up demand for the more powerful next-generation gaming device.

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.