Business

The two-week-old federal government shutdown may cost the US economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday.

Global leaders at the forefront of shaping cities are set to gather in Dubai this month for a major summit focused on the future of urban living.

GITEX is going global once again — this time heading to Latin America — with GITEX LATAM set to debut in São Paulo, Brazil in March 2027.

Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners.

Alphabet Inc's  Google will invest $10 billion to set up a massive data centre and artificial intelligence hub in Andhra Pradesh, officials from the southern Indian state said, marking its biggest such investment in the South Asian nation.

Dubizzle Group Holdings has announced plans to offer a 30.34 per cent stake through an initial public offering (IPO) on the Dubai Financial Market (DFM).

Dubai Healthcare City is set for a major expansion, with a new AED 1.3 billion development plan announced for its Phase 1 zone.

Dubai has cemented its position as a global leader in the virtual assets space, with trading volumes surpassing AED 2.5 trillion since the start of the year.

US President Donald Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China curbing its critical mineral exports.

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a federal decree-law on the Central Bank, and the regulation of financial institutions and insurance activities.

Indian Prime Minister Narendra Modi and British counterpart Keir Starmer hailed the potential on Thursday of their months-old trade deal to transform commercial links, as London unveiled further Indian investment in Britain.

Preparations have commenced to relocate GITEX GLOBAL and Expand North Star to its new home at Expo City Dubai next year.

In a major move to boost business flexibility and growth, Dubai has launched a new permit allowing free zone companies to operate directly in the mainland.

Tesla's lower-priced versions of its staple Model Y SUV and Model 3 sedan face an uphill battle in the region where Elon Musk's company arguably needs help the most: Europe.

Gold pushed through $4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the US Federal Reserve.

Europe's Airbus broke a major commercial barrier on Tuesday when its A320 family of planes overtook the Boeing 737 to become the most-delivered jetliner in history.

The US Supreme Court declined on Monday to halt key parts of a judge's order requiring Alphabet's Google to make major changes to its app store Play, as the company prepares to appeal a decision in a lawsuit brought by "Fortnite" maker Epic Games.

OpenAI revealed new partnerships with Spotify, Zillow, and Mattel to incorporate its AI products across diverse industries at its developer conference on Monday, aiming to drive the strong momentum it has enjoyed among consumers to its enterprise business.

Dubai has launched a major initiative to accelerate startup and SME growth with the unveiling of Dubai Founders HQ — a first-of-its-kind platform designed to empower entrepreneurs with the tools to launch, scale and thrive in a competitive market.

A new law regulating Dubai's engineering consultancy sector will soon come into effect, with the authorities warning that those caught violating the regulations could face up to AED 100,000 in fines.

The UAE and Kazakhstan have signed a Memorandum of Cooperation aimed at exchanging vital meteorological and radar data, and launching a joint pilot project for cloud seeding in Kazakhstan.

Masdar, a global clean energy leader and a pioneer in green hydrogen, and Etihad Rail, the developer and operator of the UAE's national railway network, have signed a Memorandum of Understanding (MoU) to explore transport solutions for the green hydrogen value chain across the nation.

US President Donald Trump's administration froze $2.1 billion in Chicago transit funding on Friday, starving another Democratic city of funds as the government shutdown entered its third day.

Three cabinet colleagues of Indian Prime Minister Narendra Modi are promoting use of apps by domestic rivals to Google Maps, WhatsApp and Microsoft, in the strongest backing yet for "Made in India" products amid trade tension with the United States.

Alphabet's Google and Comcast-owned NBCUniversal have reached a multi-year agreement to keep NBC shows such as "Sunday Night Football" and "America's Got Talent" on YouTube TV, wrapping up a difficult negotiation.

India and China will restart direct flights between designated cities this month, ending a suspension of more than five years, in a move that signals a cautious easing of bilateral tensions, India's foreign ministry said on Thursday.

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Malaysia has officially come into force, with an aim to increase non-oil trade to $13.5 billion by 2032.

Pfizer and US President Donald Trump on Tuesday said they had cut a deal in which the US-based drugmaker agreed to lower prescription drug prices in the Medicaid program to what it charges in other developed countries in exchange for tariff relief.

Dubai is reinforcing its global leadership in sustainability as the 27th edition of WETEX — the Water, Energy, Technology and Environment Exhibition — officially opened on Tuesday.

China's Pop Mart  is borrowing from Disney's playbook to turn toothy monster Labubu's blockbuster sales into long-term success, by developing content, entertainment, theme parks and more merchandise around the character.

A federal judge in Washington ordered the Trump administration on Monday to pause the layoffs of hundreds of employees from the agency that owns the US news service Voice of America, adding that government officials had shown "concerning disrespect" for the court's directives.

Videogame developer Electronic Arts has agreed to sell itself to a group of private investors in a deal that values the maker of 'Battlefield' and 'Madden NFL' at $55 billion, making it the largest leveraged buyout in history.

The UAE’s National Railway Programme is expected to generate over AED 200 billion in economic and developmental benefits.

Dubai's Roads and Transport Authority's (RTA) 119th auction for distinct number plates has raised nearly AED97.95 million in total.

The Abu Dhabi–India Business Forum, co-organised by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) in cooperation with the Federation of Indian Chambers of Commerce and Industry (FICCI) has underscored the scale and momentum of the partnership and discussed ways to deepen trade and investment ties.

The value added by the travel and tourism sector to the gross domestic product (GDP) of the Gulf Cooperation Council (GCC) countries reached $247.1 billion in 2024, up 31.9 per cent from 2019, according to the GCC Statistical Centre.

The number of commercial licences in tourism, hospitality, aviation, air transport, aviation technologies and digital tourism in the UAE reached 39,546 by mid-September 2025, a 275 per cent increase compared to mid-September 2020, according to Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Emirates Tourism Council.

K2, an Abu Dhabi company specialising in advanced autonomous systems and AI-driven technologies, has announced the signing of a Letter of Intent (LOI) with Pahang Aerospace City (PAC) and the University Malaysia Pahang Al-Sultan Abdullah (UMPSA) to cooperate on the development of next-generation autonomous platforms.

President Donald Trump signed an executive order on Thursday declaring that his plan to sell Chinese-owned TikTok's US operations to American and global investors will address the national security requirements in a 2024 law.

Pakistan's Prime Minister Shehbaz Sharif invited American companies to invest in the country during a meeting with US President Donald Trump at the White House that also focused on how to end to the war in Gaza, his office said on Friday.

President Donald Trump unleashed a fresh round of punishing tariffs on a broad range of imported goods on Thursday, saying the US will impose 100 per cent duties on branded drugs and 25 per cent tariffs on heavy-duty trucks, among other import tariffs, starting next week.

Dubai has officially been ranked among the top four cities worldwide for FinTech, according to the latest Global Financial Centres Index (GFCI).

In a major move to stabilize the rental market, Saudi Arabia has announced a five-year freeze on rent increases for residential and commercial properties in Riyadh.

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.