اقتصاد
17811 مقال
OPEC+ agrees to boost oil output when Strait of Hormuz reopens
MOSCOW/LONDON: OPEC+ agreed on Sunday to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as its key members are unable to raise production due to the U.S.-Israeli war with Iran. The war has effectively shut the Strait of Hormuz – the world’s most important oil route – since the end of February and cut exports from OPEC+ members Saudi Arabia, the UAE, Kuwait and Iraq, the only countries in the group which were able...
Dubai property sales hit Dh138.7b in Q1 as investors drive high-value deals
Dubai’s real estate market maintained strong momentum in the first quarter of 2026, recording transactions worth Dh138.7 billion across 44,150 deals, underlining sustained investor confidence and resilient end-user demand despite regional geopolitical uncertainty.The latest market data shows transaction values rose 21.2 per cent year-on-year while volumes increased 4.35 per cent, highlighting a continued shift toward higher-ticket purchases and premium residential assets.“The market is holding...
2,709 new member companies joined Dubai Chamber of Commerce in March 2026
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced that 2,709 new companies joined the chamber during March 2026. The steady growth in membership reflects Dubai’s continuing strong appeal among investors amid all market conditions.The Real Estate, Renting, and Business Services sector accounted for 41.2 per cent of new member companies, followed by the Trading and Services sector with 29.5 per cent. The Construction sector ranked t...
Rising Fuel Costs Put Pressure on Morocco’s Economy
Rabat – Fuel prices are a crucial component in the daily lives of Moroccans, affecting everything from daily commutes to the livelihoods of transport workers. In recent weeks Morocco has seen a renewed surge in fuel prices, raising concern for transportation costs and inflation. The increase is a reflection of the ongoing war between US, Israel, and Iran that has left the global oil market volatile. Fuel prices in Morocco rose sharply by mid-March, with a 13.9% increase from one month prior. Die...
Former World Bank chief says Iran economy collapsing into ‘barter system’ amid conflict
Former World Bank President David Malpass predicted Sunday that Iran’s economy could collapse into a “barter system” as the country’s financial crisis worsens amid the conflict with the U.S. and Israel. “All around the world, people in poor countries struggle with getting money, and they go back to a barter system where — and I’m…
Ask Gulf News: Can your employer deduct from end-of-service benefits for damaged equipment?
Question: I worked for a photography company and resigned one month ago. On my final working day, I returned all the cameras and equipment that I had in my possession. The company accused me of damaging the equipment and deducted an amount from my end-of-service benefits as compensation for the damage to the equipment. My question is: does the company have the right to do so, and what should I do since I do not accept this deduction?Answer: Under Article 51/7 of Labour Law No. 31 of 2021, “The...
Ask Gulf News: Can a Dubai developer forfeit your off-plan property if you miss payments
Question: I bought an off-plan property and lost my job and became unable to pay the monthly instalments. The developer sent me a notice requesting payment; otherwise, it will forfeit the apartment and the money. Does it have the right to do so? What should I do to avoid this?Answer: Based on Dubai real estate laws (Law No. 13 of 2008 and its amendments under Law No. (19) of 2020), developers have the right to terminate a contract if a buyer defaults on payments, after following a regulated pro...
Iran war driving up funeral costs in the UK
Average traditional funeral now costs £4,623, up 1.3% since January, says report from Pure CremationThe war in Iran is pushing up the cost of living in the UK but it is also driving up the “cost of dying” as higher gas prices feed through to funerals.A new report says the average cost of a funeral in Britain is running ahead of inflation, with the war seemingly partly to blame as it has pushed up the price of gas used in crematoriums. Continue reading...
US Mission Says Consulate Relocation Project Contributes up to $100 Million to Morocco’s Economy
Rabat – The US mission in Morocco announced the relocation of the Consulate General in Casablanca to Casa Finance City. The project is estimated at an investment of over $300 million, the embassy said, pledging the creation of hundreds of jobs and contributing up to $100 million to Morocco’s economy during its construction, a statement from the US embassy said. A statement from the US embassy said the relocation from Boulevard Moulay Youssef in Casablanca marks a “new chapter in the enduri...
Dubai allows hotels, businesses to defer fees under new economic measures
Dubai: Dubai has approved a new set of economic measures allowing hotels and businesses to defer key fees for three months, as authorities move to ease short-term cost pressures across the economy.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The measures, announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, take effect...
Australia receives fuel export guarantees from Singapore, Japan
Australia’s government has received guarantees from major fuel exporting nations in Asia that supplies will proceed as normal despite the disruptions caused by the war in Iran, Assistant Foreign Affairs and Trade Minister Matt Thistlethwaite said. In an interview with Sky News on Sunday, Thistlethwaite said that he had sought and received pledges from Japan, South Korea and Singapore that shipments of fuel to Australia would continue, amid concerns that some countries might curb exports to...
Middle East war hits Britain’s fish and chip shops
Before war erupted in the Middle East, fisherman Peter Bruce spent about £5,000 ($6,600) on diesel to trawl the North Sea for haddock and cod, the main species used in fish and chips. “Now, the last trip we spent about £10,000,” he told AFP, despite his crew reducing the speed of the boat to save fuel. Bruce, whose boat, Budding Rose, is based in the Scottish port of Peterhead, estimates the extra costs over a year could exceed £100,000. It was not yet clear whether the rise in energy prices wou...
KP govt limits business hours to conserve electricity
PESHAWAR: The Khyber Pakhtunkhwa (KP) government has decided to limit business hours across the province as part of measures aimed at conserving electricity, ARY News reported. According to reports, under the new directives, markets and commercial plazas in divisional headquarters will close at 9:00 PM, while in other districts, they will shut by 8:00 PM. Restaurants, cafes, wedding halls, and all events have been instructed to conclude by 10:00 PM in KP. However, home delivery and takeaway serv...
China’s luxury spending seen boosting global sales in 2026 despite headwinds
Luxury is back. Following a relatively stagnant 2025, the industry is forecast to accelerate in 2026, with China’s long-awaited recovery emerging as a pivotal factor, even as the war in Iran casts a shadow over global markets, according to analysts. Estimates vary, but HSBC, Deutsche Bank and BNP Paribas all forecast global sales growth ranging from 5.5 to 6 per cent this year. “We believe it is time to look at the sector, as we think the organic sales growth rate should further accelerate in...
Jet fuel costs skyrocket amid Iran war, exacerbating crisis for airlines, travelers
An international jet fuel shortage is driving up airfares and triggering thousands of flight cancellations as airlines grapple with rising costs. Analysts warn the crisis could deepen in the coming weeks, with the war in Iran showing little sign of easing and jet fuel prices continuing to climb. Since before the war began, the price…
Dubai issues new customs rules to route cargo via Oman amid logistics disruptions
Dubai: Dubai has introduced a detailed customs framework to reroute cargo through Oman, formalising procedures for a temporary land-based corridor aimed at easing pressure on disrupted sea and air routes.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The directive, issued under Customs Notice No. (06/2026) on April 4, allows cargo to move from Dubai to global destinations via Oman’s ports and airports using a land corridor through the Hatta border crossing.A...
Fans told to stay away from Durham ground after storm damage
Durham tell fans to stay away from Riverside after stormImage source, ShutterstockImage caption, Durham have been a first-class county since 1992Published8 minutes agoSpectators have been told to stay away from Durham's Riverside ground at Chester-le-Street after it was hit by Storm Dave overnight.The start of the third day's play in the County Championship Division Two match between Durham and Kent has been delayed.A club statement said "damage has been caused within the venue&qu...
Roads near Karachi Press Club closed due to ‘security reasons’: traffic police
KARACHI: Two roads leading to the Karachi Press Club (KPC) were closed off on Sunday, with the traffic police citing “security” as the reason. In a statement issued at 11:50am, the Karachi Traffic Police (KTP) said both tracks of Din Mohammad Wafai Road were shut. It added that Sarwar Shaheed Road from the Coast Guard Officers’ Mess towards Angle Chowk, Karachi Press Club was also closed for traffic. The KTP cited “security” as the reason for the closure of the routes....
Finally some fuel relief as petrol prices fall - but is it too little, too late for Anthony Albanese?
Fuel excise slashed by 26.3 cents per litre for three monthsREAD MORE: Tales of woe from one of Australia's CHEAPEST service stations By MAISY RAE and KYLIE STEVENS, SENIOR BREAKING NEWS REPORTER, AUSTRALIA Published: 10:00, 5 April 2026 | Updated: 10:01, 5 April 2026 e-mail View comments
Questions to help you get 'financially naked' with your partner
Questions to help you get 'financially naked' with your partner April 5, 20265:00 AM ET By Marielle Segarra , Clare Marie Schneider Image Source/Getty The first time Vivian Tu got "financially naked" in front of her partner — a term she uses to describe "brutally honest conversations" about money — it was out of desperation. Life Kit How to get 'financially naked' with your partner How to get 'financially naked' with your partner Listen · 21:41 21:41 Transcript Toggle more opt...