ECONOMY

Fujairah Crown Prince emphasized Fujairah's key role in boosting the national economy. He made these remarks during the opening ceremony of the Apex Chemical Industries factory, which is the first integrated facility in Fujairah dedicated to producing ground calcium carbonate.

Oil prices slumped on Monday after OPEC+ countries announced a sharp production increase despite oversupply concerns and growing fears that US President Donald Trump's trade war could weaken demand.

On the first day of the congress, DIFC, in collaboration with its research partner Asia House, released a new report titled Embedding Resilience: Opportunities for the Global Insurance Industry.

China on Thursday urged the United States to meet it "halfway" as US President Donald Trump imposed more levies on Chinese goods but, in a huge relief to global markets, paused tariffs on other countries.

The World Trade Organization chief said Wednesday the US-China tariff war could reduce trade in goods between the two economic giants by 80 percent, pulling down the rest of the world economy.

With sweeping tariffs targeting key US trading partners, President Donald Trump sent the world economy into a tailspin Wednesday before backing down hours later -- with a 90-day reprieve for all but China.

UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, emphasized the country's continued efforts to invest in key areas such as infrastructure, agriculture, energy, and education to support global development, boost innovation, and improve lives.

Wall Street braced Sunday for significant losses at the start of the week over Donald Trump's punishing tariffs on exports to the US, as oil prices plummeted even with countries seeking compromise with the defiant president.

Britain's economy unexpectedly shrank in January, official data showed Friday, piling more pressure on the Labour government ahead of its Spring Statement on the economy.

Global markets slumped Monday, with Wall Street logging sharp losses over fears that US President Donald Trump's trade policies could tip the world's biggest economy into a recession.

Minister of State for Entrepreneurship Alia bint Abdullah Al Mazrouei highlighted Future100's impact on SME growth, enabling expansion into global markets. She emphasized the UAE's supportive business environment, with SMEs making up 94% of all businesses and 25,000 new Emirati-founded startups in 2024.

The two-day event also features insights from global investment leaders, addressing the impact of geopolitical tensions and rapid global changes.

The partnerships further strengthen UAE-Italy relations, building on past economic and investment agreements from 1984 and 1995. UAE Minister of Investment Mohamed Hassan Alsuwaidi and Italy's Minister of Enterprises and Made in Italy, Adolfo Urso, officially signed the MoUs.

Japanese inflation accelerated in January, further pressuring households as prices excluding fresh food rose 3.2 percent on-year, government data showed Friday.

Under this agreement, 99% of goods imported by Ukraine from the UAE and 97% of Ukrainian exports to the UAE will be exempt from customs duties starting immediately. The agreement is expected to boost the UAE's GDP by $369 million and Ukraine's GDP by $874 million by 2031.

Japan's economic growth slowed sharply last year, official data showed Monday, although the rate for the fourth quarter topped expectations.

Asian markets mostly rose Friday in line with a rally on Wall Street as traders were buoyed by news that US President Donald Trump's latest reciprocal tariffs would not likely be implemented until April, giving time for negotiations.

The US Federal Reserve is in a strong position to weather the "highly uncertain" economic outlook, but its inflation fight will take time to win, a senior US central bank official said Tuesday.

The meeting focused on global economic trends and discussed ways to strengthen cooperation between the UAE and the International Monetary Fund (IMF) to support economic stability and sustainable development.

The Smart Rental Index uses clear and consistent criteria to ensure transparency in property valuation. It relies on a precise calculation method that evaluates various factors affecting rental value, including market conditions.

The ECB cut rates again last week as inflation looked to be coming under control and the eurozone economy showed signs of weakness.

US shoppers are coming out in force this holiday season, but the festiveness is being tempered by inflationary pressures that have abated but not completely faded.

Noxious smog smothering the plains of north India is not only choking the lungs of residents and killing millions, but also slowing the country's economic growth.

Sharjah's real estate market continues to attract investors from various nationalities, with 114 different nationalities represented during this period. UAE citizens invested AED 13.7 billion in 22,908 properties while non-Emirati GCC citizens invested AED 1.7 billion in 1,166 properties.

Real gross domestic product (GDP) between July and September grew by 1.8 percent year-on-year, well down from a forecast of 3.1 percent growth from economists surveyed by Bloomberg.

Year-on-year consumer price increases in the 20-country single currency area reached 2.0 percent in October, rising from 1.7 percent in September, the EU's official data agency said.

Eurozone inflation fell to its lowest level in more than three years this month thanks to falling energy costs, official data showed on Friday, raising expectations of a European Central Bank interest-rate cut.

The US jobs market was probably cooler than expected in the year through March, Labor Department data showed Wednesday, signaling weaker but still-positive growth.

President William Ruto had warned of a funding shortfall after he decided in June to drop the controversial tax hikes after a bloody day in Nairobi that saw the storming of parliament and police firing live bullets on demonstrators.