Business

ADNOC announced on Sunday plans to award contracts worth AED200 billion over the next three years, as part of efforts to expand production capacity and strengthen the UAE’s industrial base.

OPEC+ agreed on Sunday a modest oil output hike for June, an increase that will remain largely on paper as long as the Iran war continues to disrupt Gulf oil supplies through the Strait of Hormuz.

US President Donald Trump said on Friday he would increase tariffs on cars and trucks from the European Union to 25 per cent next week, saying the bloc had not complied with its trade deal with Washington.

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and South Korea will officially enter into force on May 1, 2026.

Meraas, a member of Dubai Holding Real Estate, has awarded AED 2.4 billion in main construction contracts for new phases of its flagship villa developments, The Acres and The Acres Estates, in Dubailand.

Bangladesh is set to sign a deal on Thursday to buy 14 aircraft from US planemaker Boeing, officials said, a move that marks a shift away from Europe's Airbus amid trade pressure from Washington.

The UAE Circular Economy Council held its first meeting of 2026 on Wednesday, with discussions centred on strengthening food security, expanding sustainable production, and increasing investment in circular economy sectors.

The United Arab Emirates announced on Tuesday its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1 May 2026.

Microsoft and OpenAI have renegotiated a pact that let Microsoft exclusively sell the ChatGPT creator's artificial intelligence models, clearing the way for the startup to forge new deals with rivals to the software and enterprise giant, including Amazon.

The UAE has been ranked first globally for the fifth consecutive year in the latest Global Entrepreneurship Monitor (GEM) report.

A US judge on Friday dismissed Elon Musk's fraud claims in his lawsuit accusing OpenAI and co-founder Sam Altman of betraying OpenAI's original mission, but plans to proceed to trial on Musk's breach-of-charitable-trust and unjust-enrichment claims.

Dubai South has signed a strategic Memorandum of Understanding (MoU) with Emirates NBD to support the financial growth of SMEs and facilitate access to a range of banking services.

The Dubai Multi Commodities Centre (DMCC) has launched two new commercial towers, “One Uptown Place” and “Two Uptown Place”, as part of the expansion of the Uptown Dubai area.

The Dubai International Financial Centre (DIFC) has announced plans to become the world’s first AI-native financial centre.

Associated British Foods has decided to separate its Primark fashion chain from its food businesses through a demerger following a review of the group's structure, it said on Tuesday.

Apple has named longtime hardware boss John Ternus as its next CEO on Monday, turning to another insider to steer the iPhone maker after Tim Cook.

The UAE has joined a group of international partners in welcoming a key economic development in Libya.

Dubai Chambers has wrapped up high-level meetings in Manila with key public and private sector leaders, aimed at strengthening trade and investment ties.

The UAE economy maintained its upward trajectory during the first months of 2026, supported by the strength of the financial and banking sector and rising foreign trade and investment indicators.

Blue Origin, the space company founded by Jeff Bezos, confirmed that its New Glenn heavy rocket placed a satellite into the wrong orbit during its third launch.

Dubai South has announced a new set of incentives for companies operating within its free zone, reinforcing its commitment to supporting the business community and sustaining economic momentum.

The Trump administration on Friday renewed a waiver allowing countries to buy sanctioned Russian oil and petroleum products at sea for about a month, two days after saying it had no plans to do so.

UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini has held a series of high-level bilateral meetings with global finance leaders on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund.

The Dubai Ports Authority has affirmed its full readiness to deliver round-the-clock services to vessels across the emirate’s ports and anchorage areas.

The UAE and Azerbaijan have officially entered into a Comprehensive Economic Partnership Agreement (CEPA) to bolster trade and investment relations between the two nations.

Dubai Properties, a member of Dubai Holding Real Estate, has awarded contracts worth nearly AED 1.1 billion to Metac General Contracting Co. LLC for the construction of 850 townhouses at Villanova in Dubailand.

Parkin has entered into a multi-year agreement with real estate developer Binghatti Holding, where it will operate approximately 1,200 spaces across selected Binghatti developments.

The UAE's Minister of Economy and Tourism, Abdulla bin Touq Al Marri, has met with a high-level delegation from Uzbekistan to explore ways to strengthen economic and investment ties.

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment.

Expo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum.

More than 2,500 online travel agents, tour operators, hotel groups and airlines have signed on as Authorised Ticket Resellers (ATRs) for Expo 2020 Dubai.

A spectacular line-up of sights, sounds and tastes await visitors at Expo 2020 Dubai, through a series of specially curated itineraries.

Apple on Tuesday launched the iPhone 12 with faster 5G connectivity, which the company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.