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Borouge suspends Ruwais production after debris damage, no injuries reported
Dubai: Borouge Plc confirmed that the incident at its Ruwais Industrial Area facilities on Sunday led to asset damage and a temporary halt in affected operations.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The company stated: “Borouge Plc confirms that an incident occurred at its production facilities located at the Ruwais Industrial Area on 5 April.”It added that “following a successful interception by air defence, falling debris resulted in damage to as...
Sharjah Ramadan Festival winners take home 2 Nissan Patrols, sales jump 95%
Dubai: Sharjah wrapped up its Ramadan Festival promotions with two Nissan Patrol SUVs awarded to winners, alongside more than 90 prizes distributed during closing events in Al Dhaid and Fili.Sign up for our daily business newsletter, Cheques & Balances.The draws took place at Souq Shari’at Al Dhaid and Fili Heritage Souq, where visitors gathered for the final ceremonies that marked the end of the “Al Dhaid and Fili Nights” initiative.Mohammed Yousif Abdulrahman and Alya Saif Al Muhairzi were an...
Saudi Arabia’s damage from US operation against Iran exceeds $10 bln — WSJ
The country’s authorities and major state-owned companies are revising the schedule for major infrastructure projects, including the construction of new skyscrapers, in an effort to reduce their current spending
Blue states are changing the tax rules on the wealthy and it's going to cost all of us
Every politician eventually runs out of other people's money to spend. Blue state governors and legislators are just running out faster than the rest.Right now, there is a coordinated wave of new tax proposals sweeping California, New York, Washington state, Massachusetts, Michigan and Connecticut. The common thread? They all believe the solution to self-inflicted budget crises is to reach deeper into the pockets of their most productive residents. And if those residents decide to leave, they wa...
Can palm biodiesel provide quick relief for Malaysia amid Iran war?
Malaysia is facing renewed pressure to expand palm-based biodiesel as the Iran war drives up fuel costs, but industry and academic observers say high infrastructure costs and slow roll-out make it an unlikely source of quick relief. That tension has sharpened as the government confronts a swelling fuel subsidy bill and greater exposure to imported supply shocks. The finance ministry last month said petrol and diesel subsidies could reach 4 billion ringgit (US$903 million) a month with crude oil....
Tax cuts are the hot new idea for Democrats
ElectionsTax cuts are the hot new idea for DemocratsNew tax cut plans from 2028 presidential prospects and major Democratic candidates for governor have spurred a "wonk revolt" from liberal and moderate policy experts.Listen to this article with a free account00:0000:00Sen. Cory Booker of New Jersey and former Rep. Katie Porter of California are among Democrats pushing new tax breaks.Getty ImagesShareAdd NBC News to GoogleApril 6, 2026, 5:00 AM EDTBy Sahil KapurWASHINGTON — Tax cuts ar...
DAMAC records Dh3.12 billion in March sales as Q1 property activity surges
Dubai: Dubai’s property market closed March with a clear leader, with DAMAC Properties topping sales activity by a wide margin as demand held firm despite regional tensions.Sign up for our daily business newsletter, Cheques & Balances.The developer recorded Dh3.12 billion in sales across 1,106 transactions during the month, placing it well ahead of peers in terms of deal volume. That performance capped a strong first quarter, with DAMAC selling 3,663 units. The developer has a pipeline of more...
Gulf war batters India’s glass heartland, testing New Delhi’s manufacturing drive
Famed as India’s “Glass City” with a four-century tradition of glassmaking, Firozabad’s furnaces are now burning low, putting thousands of day labourers out of work in what would normally be peak season. The industry has been crippled by the war in the Middle East because of its intense energy needs. Gas-fired heat chambers need to run constantly at above 1,000 degrees Celsius (1,832 degrees Fahrenheit) to keep the glass molten and prevent defects. India’s heavy reliance on gas across the econom...
Motorcycle, rickshaw transfer fees abolished amid petrol price hike
PESHAWAR: The Khyber Pakhtunkhwa (KP) government has abolished transfer fees for motorcycles and rickshaws by approving an amendment to the Motor Vehicle Registration Bill. This move aims to provide relief to the public amid the fuel crisis caused by the ongoing conflict in Iran, ARY News reported. Dawood Shah, a member of the ruling Pakistan Tehreek-e-Insaf (PTI) party, presented the private member’s bill in the KP Assembly. Under the new legislation, the Rs 500 transfer fee for motorcycl...
Trade minister announces round-the-clock management to supply goods, control market
TEHRAN- The Minister of Industry, Mining and Trade stated that the central headquarters of the ministry was formed in the very first hours of the war, adding: "The managers, deputies, and staff of this ministry have been present at their workplaces around the clock, without leaving the field for a single moment."
Short-term exits from the UAE could trigger unexpected tax exposure for expats, SJP warns
With more UAE-based expats spending time abroad in recent weeks, whether through short trips, extended stays, or unplanned travel, now is a natural point to review whether financial and tax positions still reflect reality.In periods of heightened uncertainty, it is natural for decisions to be guided by what feels right for family or immediate circumstances. Where travel patterns shift as a result, details like tax position or residency may not always be revisited straight away, even where the u...
Abu Dhabi reinforces supply chain resilience and business continuity at Traders–Decision Makers Forum
Government officials reaffirmed, during the Traders–Decision Makers Forum recently organized by the Abu Dhabi Chamber of Commerce and Industry, the emirate’s ongoing efforts to support business continuity, strengthen supply chains and the flow of goods, and reinforce Abu Dhabi’s ability to navigate global developments with confidence and a proactive approach.Held at the Abu Dhabi Energy Center, the forum witnessed broad participation from senior government representatives alongside leading figu...
War’s widening cost: How conflict is reshaping the global economy
The US-Israel-Iran war has now entered its second month of reciprocal attacks, alongside Iranian strikes on neighboring Gulf states. Its trajectory remains uncertain, caught between a fragile de-escalation that appears difficult to achieve and a new, unpredictable phase. Against this backdrop, the global economy is struggling to absorb the shock, while people everywhere hope the conflict will not further erode their livelihoods, access to food and medicine, or energy costs. In reality, everyone...
PIA abolishes fare discounts, limits flight operations amid rising fuel prices
Pakistan International Airlines (PIA) on Monday announced that it had abolished all fare discounts and reduced its international flight operations in response to continuously rising aviation fuel prices amid austerity measures. In a statement issued by the spokesperson, the flights to Beijing and Kuala Lumpur would be suspended from April 11 and April 14, respectively, while operations to several Gulf countries would also be halted by the end of April, except for the Un...
Punjab govt finalises market timings plan: sources
LAHORE: The Punjab government has rejected a proposal to close markets at 8pm, opting instead to allow businesses to remain open until 10pm across the province, ARY News reported citing sources. According to Punjab government officials, the recommendations presented to Chief Minister Maryam Nawaz were not approved, as authorities decided against imposing further economic pressure on traders. Sources added that the suggestion to shut markets early has been deferred for now, with the Punjab govern...
Support packages being designed for entrepreneurs in free zones
TEHRAN- The secretary of the Iranian Free Zones High Council, emphasizing support for entrepreneurs amid war conditions, has stressed the design and formulation of support packages for them in free zones.
Hormuz closure divides the fortunes of Middle Eastern oil states
The Strait of Hormuz's closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters analysis found. Iran effectively shut the Strait - a route for about a fifth of global oil and LNG flows - after US and Israeli airstrikes on Iran at the end of February led to a widening conflict. It later said it would allow transits by vessel...
Iran's FM warns Trump's threat would impact global energy and economy
Iran's Foreign Minister Seyed Abbas Araghchi warned his French counterpart that implementing Trump's threat would have repercussions on energy and the global economy, Al Jazeera reported on Monday.
Max-Hervé George leads SWI Group IPO on Euronext Amsterdam through SWI Capital Holding
SWI Capital Holding Ltd., the parent company of SWI Group, has completed its IPO on Euronext Amsterdam, with shares trading under the ticker symbol “SWICH.” The IPO marks the entry of SWI Capital Holding into European public markets, formalising a listed holding structure for SWI Group’s diversified global investment platform.For SWI Group, the move represents a structural evolution rather than a transactional event. As of 31 December 2025, SWI Group reported a pro forma balance sheet of approx...
Isa savers under 65 have ‘last chance’ in the new 2026-27 tax year
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