Business News from Saturday, May 31st, 2025
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OPEC+ agrees July oil output hike of 411,000 bpd
OPEC+ agreed on Saturday to hike July oil output by 411,000 barrels per day (bpd), the same as in May and June, as the group of oil-producing countries continues to bring back supply more rapidly than earlier planned.
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Trump says he plans to double steel, aluminium tariffs to 50%
US President Donald Trump said on Friday he planned to increase tariffs on imported steel and aluminium to 50 per cent from 25 per cent, ratcheting up pressure on global steel producers and deepening his trade war.
News
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Abu Dhabi's Life Endowment campaign raises AED509 million in 2 weeksThe Life Endowment campaign, which aims to cover health care costs for chronic disease patients and people of determination, has raised AED 509 million within two weeks of its launch.
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UAE launches AI leadership training to drive government innovationThe UAE has launched a programme to upskill a select set of AI leaders across federal government entities to ensure sustained progress in adopting and developing smart solutions.
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Investigations underway after Al Hamriyah Port fire fully containedAuthorities have launched an investigation to determine the cause of a major fire that raged on for nearly 24 hours at Sharjah's Al Hamriyah Port.
