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'Oil cos losing Rs 1,000 crore a day': Hike in prices imminent, hints Petroleum minister Puri
Public sector oil companies are facing daily losses of Rs 1,000 crore, potentially forcing fuel price hikes soon. Minister Hardeep Singh Puri highlighted significant under-recoveries, warning that companies cannot sustain these losses indefinitely. While elections are not the reason for the freeze, a drop in crude prices or reopening of the Strait of Hormuz could offer relief.
Amlak Finance announces Dh52 million in net profit for Q1 2026
DUBAI: Amlak Finance PJSC announced its quarterly financial results for the period ended March 31, 2026. The Company maintained its focus on the prudent management of its UAE operations and overall balance sheet.During the period, Amlak reported a net profit after income tax of Dh52 million, compared to Dh28 million in the corresponding period of 2025, representing a quarter-on-quarter growth of 86%.Get updated faster and for FREE: Download the Gulf News app now - simply click here. Amlak’s tota...
Markets suffer meltdown over anarchy in Downing Street while royals are drawn in amid concern for King's speech - as Streeting to hold showdown talks with PM
Markets suffer meltdown over anarchy in Downing Street while royals are drawn in amid concern for King's speech - as Streeting to hold showdown talks with PMGet your news delivered straight to you by 7am - sign up to our new Morning Mail newsletter for FREE By JASON GROVES, POLITICAL EDITOR and HUGO DUNCAN, BUSINESS EDITOR Published: 00:21, 13 May 2026 | Updated: 00:21, 13 May 2026 e-mail View comments
Buyers Holding off on NYC: Brown Harris Stevens CEO
Brown Harris Stevens CEO Bess Freedman discusses NY Democrats cutting deal on second-home tax and says we need complete property tax reform. She speaks with Romaine Bostick and Katie Greifeld on "The Close." (Source: Bloomberg)
Australia Tackles Property Tax Breaks in Budget
Australia will overhaul tax settings that have long favored property investors and assist households and firms grappling with soaring fuel costs in a budget presented by Treasurer Jim Chalmers. (Source: Bloomberg)
Three-quarters of UK millionaires would be happy to pay more tax, research finds
Despite concerns super-rich are leaving due to tax burdens, 88% of those surveyed were proud to live in UK and would pay more to fund public servicesNine in 10 UK millionaires are proud to live in Britain and three-quarters would be willing to pay more tax to ensure public assets get the funding they need, according to research.Despite widely reported concerns that the wealthy are choosing to leave the country owing to higher taxes, the survey found millionaires were much more concerned about me...
Keir Starmer to meet key rival Wes Streeting amid open revolt in Labour Party
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Savers warned about ‘leaking bucket’ accounts that may leave them worse off
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12.2m UK adults at risk of pension poverty in later life, report estimates
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Alignment Healthcare CEO Adds Chairman Role As Medicare Business Grows
InnovationHealthcareAlignment Healthcare CEO Adds Chairman Role As Medicare Business GrowsByBruce Japsen,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Bruce Japsen writes about healthcare business and policy.Follow AuthorMay 12, 2026, 06:34pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Alignment Healthcare founder and chief executive officer John Kao is adding the role of chai...
Market 'Yet to Fully Experience' Aluminum Shortfall from Iran, Says Timna Tanners
Shortfalls could persist longer than current expectations and drive up the price of aluminum as an impact of war with Iran says Timna Tanners, managing director of equity research for Wells Fargo. Tanners talked about the different impacts of the war on commodity prices, including copper which neared record highs on Tuesday due to a rise in demand from China and fears about supplies of sulfur in the Mideast. (Source: Bloomberg)
White House invites U.S. business titans to Trump's China summit
The White House invited 16 top U.S. executives to join President Trump on his trip to China. CBS News contributor Patrick McGee joins
Asian Stocks Under Pressure as US Inflation Rises: Markets Wrap
Asian stocks are poised for a weak open after losses on Wall Street, with the dollar strengthening and bonds falling as inflation data showed the impact of energy disruptions linked to the war in Iran.
Oil Holds Gain With Iran’s Exports Strained as Conflict Drags On
Oil was steady as the conflict in the Middle East drags on and keeps the vital Strait of Hormuz effectively closed, with shipments from Iran’s main export terminal appearing to come to a standstill.
Hedge Fund Dymon’s Assets Near $8 Billion, Blowing Past Estimate
Hedge fund firm Dymon Asia Capital Pte is on track to reach $8 billion in assets under management by the third quarter as more global investors seek to back Asia-based hedge funds, according to people familiar with the matter.
Energy cost spike from Iran war sends inflation soaring to highest level in nearly 3 years
Inflation is now at its highest level in nearly three years, in large part due to skyrocketing energy costs from the Iran war. Arjun Murti, partner at the energy sector firm Veriten and author of the energy-focused Substack newsletter "Super-Spiked," joins with analysis.
MSCI Cuts Stocks Linked to Indonesia’s Richest From Indexes
MSCI Inc. removed some Indonesian stocks linked to the country’s richest billionaires from its indexes, following through on a warning last month that it will exclude companies with concentrated ownership. The shares fell.
Insurance pool of Rs 13,000 crore for Indian ships
The Indian government has launched a $1.5 billion Bharat Maritime Insurance Pool, backed by a $1.4 billion sovereign guarantee, to offer risk cover for Indian vessels on international routes, including war zones. This initiative aims to reduce shipping insurance premiums and guarantee coverage even when global insurers withdraw due to rising risks.
Trump-Xi summit expected to focus heavily on trade, AI
President Trump departed the White House for Beijing on Tuesday to attend a summit with Chinese President Xi Jinping. Chris McGuire, senior fellow at the Council on Foreign Relations, joins CBS News to unpack the topics the leaders are expected to discuss.
Businesses starting to receive their IEEPA tariff refunds
MoneyWatch Businesses starting to receive their IEEPA tariff refunds .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Megan Cerullo Megan Cerullo Reporter, MoneyWatch Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting. Read Full Bio Megan Cerullo May 12, 2026 / 5:05 PM EDT...