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Labour blamed for delaying 100 million barrels of North Sea oil as investment 'could collapse before 2030'

Labour has been accused of stalling the development of one of Britain's largest remaining North Sea oil and gas projects as industry leaders warn delays could jeopardise billions in investment and future tax revenues.The Buchan area, estimated to contain around 100 million barrels of oil and gas reserves, was originally expected to begin production this year under plans developed by Jersey Oil and Gas and its partners.Instead, the project has faced mounting uncertainty following Government inter...

Report: West Asia war not hurting India inflation yet; flags fuel and crop risks ahead

India's retail inflation remains largely unaffected by West Asian conflict, with SBI retaining its FY27 forecast at 4.5%. While imported inflation eased slightly, rising food prices, particularly tomatoes, are a key driver. Future trends hinge on energy price pass-through and summer crop progress, with the RBI flagging upside risks.

Abu Dhabi's Phoenix Group partners with DC Max to unlock $8 billion European AI data center opportunity, with Lyon, France as first deployment

Phoenix Group PLC (ADX: PHX), an IHC portfolio company and global digital infrastructure operator, today announced a strategic partnership with DC Max to develop its first European AI data center, an 18MW facility in Lyon, France.The project is the inaugural deployment of Phoenix's European Data Center Platform, a scalable framework targeting over 1GW of combined AI and HPC capacity across Europe and the GCC.Phoenix sees this move as a direct extension of the UAE’s national AI ambition, an Abu D...

Tata Power shares crashed over 6% today. Should you buy?

Tata Power shares crashed over today Should you buy

Customs duty rises on gold, silver: Will buying slow or stay strong?

Customs duty rises on gold silver Will buying slow or stay strong

FirstRand Picks BofA, RMB to Advise on Sale of UK Aldermore Unit

FirstRand Ltd. hired Bank of America Corp. and its own investment-banking arm, Rand Merchant Bank, as advisers to help it sell its UK-based Aldermore Group and exit the European market, a spokesperson for the South African lender said.

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How UAE parents are coping with school costs

Dubai: For many families across the UAE, school fees remain one of the most important household commitments, with parents carefully planning finances to ensure their children continue receiving quality education.From tuition and transport fees to books and uniforms, education expenses require thoughtful budgeting. While some families say managing costs has become more challenging in the current situation, many parents are adapting by prioritising essential spending, planning ahead, and appreciat...

Dubai traffic alert: Accident causes congestion on Al Khail Road towards Abu Dhabi

Dubai: Traffic congestion was reported on Al Khail Road heading towards Abu Dhabi on Wednesday following an accident, Dubai Police said.The authority urged motorists to exercise caution and take alternative routes to avoid delays.Get updated faster and for FREE: Download the Gulf News app now - simply click here.In an earlier post, police said an accident was obstructing traffic on Al Khail Street after Meydan Bridge towards Abu Dhabi, with congestion building in the area.Motorists were advised...

India hikes gold, silver duties to protect sliding rupee

India has boosted its import tariffs on gold and silver in an effort to shore up the sagging value of the rupee and bolster foreign currency reserves hit by war in the Middle East. Gold imports are financed through dollars, which means buyers have to spend down foreign reserves or convert rupees to make purchases. Prime Minister Narendra Modi had already appealed days ago to the public to avoid buying gold for a year as the rupee’s year-long slide against the dollar has worsened during the Iran...

Glassmaker questions future of UK manufacturing

Glassmaker questions future of UK manufacturing3 hours agoShareSaveAdd as preferred on GoogleMike GilmoreBristolBBCBristol Blue Glass Managing Director Suzanne Adlington questions why anybody would go into manufacturing with costs so highA long‑established Bristol glassmaker has questioned whether manufacturing in the UK is still viable, blaming rising energy costs and taxes for pressure on the industry.Bristol Blue Glass, which has produced its specialist glassware for nearly four decades, has...

London traders hit by 'king of mangoes' shortage

London traders hit by 'king of mangoes' shortage4 hours agoShareSaveAdd as preferred on GoogleBhavani VaddeLondonBBCShabir Khan has been selling Alphonso mangoes on his stall in Tooting for 24 yearsMango sellers in south London say a shortage of India's prized Alphonso variety is pushing up prices and limiting supply at the height of the season.In Tooting, a long-standing hub for South Asian food and culture, traders report fewer deliveries than usual this spring.The Alphonso, often called the "...

MobiKwik’s Thin Margins, UPI Pressure and Path to Profit

MobiKwik has reported a second consecutive profitable quarter, highlighting stable payments margins despite zero‑fee UPI transactions and ongoing investments in new businesses. The company says this reflects a key inflection point in its growth and profitability journey. Upasana Taku, Co‑Founder, Executive Director and CFO of MobiKwik, talked more about her outlook for the company on Bloomberg's Insight with Haslinda Amin. (Source: Bloomberg)

Air India cuts flights as Iran war drives up costs and hits demand

Air India has significantly reduced its flight schedule, cancelling around 200 weekly services from June to August due to soaring jet fuel prices and a depreciating rupee. These cuts follow previous reductions and aim to combat substantial losses. The airline is also exploring cost-saving measures like making meals optional on certain flights and unbundling lounge access for business class passengers.

WFH, no foreign travel: Here's how much you can help India save

WFH no foreign travel Heres how much you can help India save

SBP says it has recieved $1.3bn tranche from IMF

The State Bank of Pakistan (SBP) said on Wednesday that it had recieved $1.3 billion from the International Monetary Fund (IMF). “The IMF Executive Board completed the third review under the Extended Fund Facility (EFF) in its meeting held on May 8 and approved the disbursement of SDR 760 million for Pakistan. Furthermore, the IMF Executive Board has also approved the disbursement of the second tranche of SDR 154 million under the Resilience and Sustainability Facility (RSF),” the central bank s...

Is Iran dumping oil in the ocean due to storage shortage? Why it's worrying

Is Iran dumping oil in the ocean due to storage shortage Why its worrying

China’s Profit Outlook to Improve Further, Morgan Stanley Says

Chinese companies’ second‑quarter profit outlook is set to improve after encouraging first‑quarter results, with rising exports and early signs of reflation boosting revenues, according to Morgan Stanley.

Pettis on China's Growth Woes, Global Trade Imbalances

Carnegie Endowment for International Peace Senior Fellow Michael Pettis discusses his outlook for the summit between Chinese President Xi Jinping and US President Donald Trump. He also offers insights on the challenges of rebalancing trade. He speaks with Haslinda Amin on "Insight with Haslinda Amin." (Source: Bloomberg)

Markets on Edge as Trump-Xi Talks Loom | The Asia Trade 5/13/2026

"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Beijing and Tokyo with Haidi Stroud-Watts and Shery Ahn, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)