Oil prices plunged by almost 30 per cent on Monday, after OPEC’s failure to strike a deal with Russia regarding production cuts - it's steepest one-day fall since the 1991 Gulf War.
Saudi Arabia's move to raise crude output has impacted global stock markets, with London’s FTSE down 9 per cent. That followed are sharp sell-off in Asia, where Australian share fell 7 per cent.
By 8:45 am GMT, a barrel of Brent crude had recovered to around $36 a barrel - a decline of 20 per cent.
Abu Dhabi Crown Prince arrives in India for AI Impact Summit
Abu Dhabi’s Crown Prince His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has arrived in India to attend the AI Impact Summit, taking place in New Delhi.
India AI summit stumbles as Bill Gates pulls out, chaos mounts
Bill Gates pulled out of India's AI Impact Summit hours before his scheduled keynote address on Thursday, dealing another blow to a flagship event already marred by organisational lapses, a robot row and delegate complaints over traffic disruptions.
UAE President appoints new Federal Tax Authority chief
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Decree appointing Abdulaziz Mohammed Faraj Al Mulla as Director General of the Federal Tax Authority, with the rank of Ministry Undersecretary.
Uber expands into 7 new European markets in food-delivery push, FT reports
Uber plans to roll out its delivery business into seven new European countries this year, as tech groups ramp up their efforts in the multibillion-euro food-delivery market, the Financial Times reported on Sunday.
UAE strengthens market oversight to ensure price stability for Ramadan
UAE authorities have stepped up market monitoring and supply chain coordination ahead of Ramadan to ensure adequate supplies of essential goods and stable prices.
The UAE has pledged an additional $1.2 billion in support for Gaza during the inaugural meeting of the Board of Peace in Washington.
The UAE Food Bank has launched its Ramadan campaign, aiming to provide eight million meals by redistributing surplus food to beneficiaries in the UAE and abroad.
Abu Dhabi’s Crown Prince His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has met with Indian Prime Minister Narendra Modi on the sidelines of the AI Impact Summit in New Delhi.
