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Al Khaznah Leathers signs key MoUs at Make It in the Emirates 2026

Al Khaznah Leathers (AKL), the UAE’s national sustainable leather factory and the country’s only leather facility with a fully integrated value chain, signed two strategic agreements during Make It in the Emirates 2026, reinforcing its role in advancing industrial localisation, future manufacturing, and Emirati craftsmanship.The MoU with ROX focuses on exploring opportunities in automotive leather solutions, including finished leather, advanced cut parts, and precision-engineered components for...

Oil Market Completely Broken

Oil climbed after renewed clashes between US and Iranian forces which has jeopardized the outlook for a deal to end the war. The Strait of Hormuz has been effectively closed since the start of the war triggering an energy supply shock. Vandana Hari, Founder of VANDA Insights told Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche, oil markets are not reflecting reality. (Source: Bloomberg)

Dubai Taxi profit falls after March slowdown hits trips and airport demand

Dubai: Dubai Taxi Company reported lower first-quarter revenue and profit after regional uncertainty in March reduced trip volumes across its taxi and limousine businesses, interrupting a strong start to the year driven by fleet expansion and steady mobility demand.Sign up for our daily business newsletter, Cheques & Balances.The company said revenue fell 6% year on year to Dh551.1 million in the three months to March 31, 2026, while EBITDA declined 22% to Dh120.7 million. Net profit dropped 39%...

Why Iran War Risks Hit Indian Stocks Harder

Record foreign outflows and surging energy costs are battering India’s economy and the rupee. While geopolitical tensions drive crude prices higher, some sectors show resilience amid the volatility. Lakshmi Iyer of Bajaj Finserv joined Haslinda Amin on Insight to discuss why market corrections offer opportunities and where she sees value in alternatives. (Source: Bloomberg)

From fuel relief to tax shocks: Inside Labor's Budget that will hit every Australian wallet

From fuel relief to tax shocks: Inside Labor's Budget that will hit every Australian walletFederal Budget due on Tuesday, May 12Aussies can expect a raft of changes READ MORE: Top Aussie banker issues brutal message to Albo's governmentBy CAITLIN POWELL - NEWS REPORTER and ANDREW BROWN FOR AUSTRALIAN ASSOCIATED PRESS Published: 06:18, 8 May 2026 | Updated: 06:18, 8 May 2026 e-mail View comments

Why China's Rare Earths Grip Is Hard to Break

China's near-total control of the rare earths industry has become one of its most potent geopolitical levers. Chris Kennedy, who leads economic statecraft analysis at Bloomberg Economics, says President Donald Trump is expected to prioritize retaining US access to these industrial inputs, which are vital to the auto, defense and tech sectors. (Source: Bloomberg)

Oil at $101 but could Strait of Hormuz crisis push prices to $200?

Escalating Middle East conflict has choked the world's busiest oil passage, pushing crude prices past $100 per barrel with warnings of a surge to $167 or higher. A prolonged closure of the Strait of Hormuz threatens a severe energy and trade shock, potentially reducing global trade growth significantly and deepening economic uncertainty worldwide.

From oil giants to banks - these companies are making billions from Iran war

From oil giants to banks - these companies are making billions from Iran warJust nowShareSaveAdd as preferred on GoogleArchie MitchellBusiness reporterGetty ImagesAs households across the globe count the costs of the US-Israel war in Iran, some companies have been counting bumper profits instead.The uncertainty sparked by the conflict, and Iran's effective closure of the Strait of Hormuz, is driving up the cost of living and hitting the budgets of firms, families and governments.But while s...

Pakistan Shuns Spot LNG as It Bets on Potential Hormuz Easing

Pakistan opted not to buy urgent cargoes of liquefied natural gas on the spot market, betting that hostilities which have closed the Strait of Hormuz will ease and cheaper supplies from Qatar will arrive soon.

Macquarie CFO Says Private Credit Angst Due to Liquidity Issues

Worries in the private credit market stem from retail-driven liquidity problems rather than the health of the underlining portfolio, according to Frank Kwok, Chief Financial Officer at Macquarie Group Ltd.

Dubai gold prices rise again, with 24K back near this month’s high

Dubai: Dubai gold prices moved higher on Friday morning, putting jewellery buyers and investors back on watch after a volatile start to May that has already seen sizeable day-to-day swings across local rates. (Check latest UAE gold prices , alongside prices in , , , , , and .)Sign up for our daily business newsletter, Cheques & Balances.At 8.37 am on Friday, 24-karat gold stood at Dh568.50 per gram, compared with Dh565 on Thursday, while 22-karat gold rose to D...

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New Zealand Government Repeats Call for Kiwibank to Explore Share Sale

New Zealand’s government is reiterating it wants state-owned Kiwibank to become a stronger competitor and that it should be open to raising capital to fund growth, including via a partial share sale.

Tanker carrying Russian oil earlier reaches Tokyo Bay

The vessel reached the shore in the Sodegaura area, where refining facilities of several Japanese companies are located

Rupee in red: Currency falls 45 paise to 94.67 against US dollar

The Indian rupee opened sharply lower against the US dollar, falling 36 paise to 94.58 due to rising Middle East tensions. This marked a reversal from Thursday's gains, as US President Trump warned Iran of stronger military action.

Goldman-Backed Go Taxi Seeks $1.3 Billion Valuation in Tokyo IPO

Taxi-hailing app operator Go Inc. is targeting a valuation of about ¥200 billion ($1.3 billion) for its initial public offering that may raise as much as ¥90 billion, according to people familiar with the matter.

Key Tata Trusts board meeting postponed to May 16. Here's why

Key Tata Trusts board meeting postponed to May Heres why

Lenskart shares fall over 2% amid block deal buzz, IPO lock-in expiry

Lenskart shares fall over amid block deal buzz IPO lockin expiry

IMF raises alarm on finance sector risks after Claude Mythos

IMF raises alarm on finance sector risks after Claude Mythos

Sensex opens 400 points lower, Nifty below 24,200; banking stocks fall

Sensex opens points lower Nifty below banking stocks fall