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.
Nakheel unveils new sustainable community beside Palm Jebel Ali
Nakheel, a member of Dubai Holding Real Estate, has unveiled Palm Springs, a 3.8 million sq m residential masterplan adjacent to Palm Jebel Ali in southern Dubai.
Dubai showcases latest innovations in electric, smart mobility
More than 300 local and international organisations are showcasing the latest developments in electric vehicles and future transport at the inaugural Dubai International Electric Vehicle Exhibition and Conference (EV World 2026).
US sues Lyft, alleges discrimination against disabled riders
The US Justice Department sued Lyft on Monday, alleging the ride-hailing services provider discriminated against passengers with disabilities, including those who use service animals and mobility devices such as stowable wheelchairs.
ADNOC Distribution reports $791 million net profit in first 9 months
ADNOC Distribution has reported a 37 per cent year-on-year increase in net profit to $791 million in the first nine months of 2026.
Tesla to pull the plug on Cybertruck after years of poor sales
Tesla will wind down Cybertruck production at its Texas gigafactory around mid-2027, CEO Elon Musk said on Friday, after years of persistently weak sales for a futuristic model once touted as a rival to legacy pickup trucks.
A man has been arrested in Abu Dhabi for defrauding the owner of a gold jewellery store in the UAE capital of items worth AED 14 million.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a law defining Dubai Municipality's mandate to build a future-ready city.
Several people have been reported dead and wounded after a truck collided with a number of vehicles on Fujairah's Sheikh Khalifa bin Zayed Street early Thursday.
