China’s foreign-exchange reserves have increased for the second month in a row. The world’s largest currency hoard rose by $7.089 billion to $3.22 trillion in April, the People’s Bank of China said in a statement Saturday. Market sentiment toward the yuan has improved and a stronger yuan and euro boosted the headline number. That compares with the $3.20 trillion expected by economists surveyed by Bloomberg.
Wall Street soars as traders bet on potential war off-ramp
Wall Street ended sharply higher on Tuesday, lifted by speculation about a potential de-escalation in the Middle East conflict that has sent oil prices soaring and fuelled fears of global inflation in recent weeks.
US trade chief sees only limited role for WTO
The World Trade Organisation will play only a limited role in global trade policy after a failed ministerial meeting in Cameroon, US Trade Representative Jamieson Greer said on Monday, vowing to seek alternative arrangements with like-minded countries.
Dubai South awards AED 2 billion contract for development of 'Hayat' project
Dubai South Properties has awarded a AED 2 billion contract for the development of multiple phases of the 'Hayat' project, a luxury master-planned community spanning 10 million square feet.
Australia to halve tax on fuel, underwrite spot cargoes
Australian Prime Minister Anthony Albanese has announced on Monday that the government would halve the excise on fuel and diesel and remove the heavy road user charge for three months to help households cope with a surge in costs driven by the Iran war.
Business leaders affirm strength of Dubai's diversified economic model
Leaders of Business Groups operating under the Dubai Chamber of Commerce say the emirate continues to build on a strong and resilient economic model, driven by diversification, close public-private sector collaboration, and the ability to respond quickly to global change.
One person has been injured from falling shrapnel following a drone interception in Umm Al Quwain, authorities confirmed on Wednesday.
Authorities have announced on Wednesday that fallen debris from a drone interception at a farm in Fujairah's Al Rifaa area on Wednesday caused the death of one individual.
UAE weather authorities have forecasted rough sea conditions accompanied by strong winds that are expected to last until April 3.
