#China

Business travel

These are the world’s 10 most expensive cities for business travel

The survey was based on 2022 data for four-star hotels, meals, laundry and incidental costs

Saudi oil Europe

Saudi Arabia raises oil prices for Asia and Europe for April

Prices for US customers were left unchanged

Tajikistan-China

Magnitude 7.2 earthquake strikes Tajikistan-China border

It occurred near the border between the northwestern Chinese Xinjiang Uyghur Autonomous Region and Tajikistan’s Gorno-Badakhshan

Ford

Ford is investing $3.5bn in EV battery plant with Chinese firm

The facility is set to open in 2026 and will produce enough batteries to power 400,000 EVs a year

UAE’s non-oil foreign trade grows 17% in 2022

UAE’s non-oil foreign trade grows 17% in 2022

This is the first time that the country’s non-oil foreign trade has surpassed the Dhs2tn mark

OPEC+ keeps output steady amid uncertainty

OPEC+ keeps output steady amid uncertainty

Oil prices have had a rocky start to 2023, with a rally in mid-January fading away by the end of the month

Oil rig - OPEC

Oil steadies as traders look to China, OPEC for fresh triggers

West Texas Intermediate was little changed above $80 a barrel after declining by almost 2 per cent on Tuesday

These are the best passports for travellers to hold in 2023

The ranking, published by Henley & Partners, uses data from the International Air Transport Association

oil price

Oil extends drop in thin trading as fears over Covid wave mount

Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year

How life sciences will define the next chapter in the Middle East transformation story

Life science companies are in a unique position to work with local governments to support capacity-building around early diagnosis and treatment

Kanoo Group

Dubai’s Kanoo Group sees opportunities to invest in India, China

The family-owned company, with interests spanning shipping, real estate, financial services and energy, sees potential in sectors including artificial intelligence and clean energy

Oil set for weekly gain on signs of tight supply, China comeback

West Texas Intermediate futures traded near $76 a barrel and are up around 7 per cent this week

UAE’s foreign non-oil trade to grow to Dhs2.2tn by end of 2022

Non-oil foreign trade crossed Dhs583bn during the third quarter of the year

Saudi and Chinese companies sign 34 investment agreements

The agreements covered sectors like green energy, green hydrogen, photovoltaic energy, information technology, cloud services, transportation, logistics, medical industries, housing and construction factories

Markets

Oil steadies after three-day drop as demand concerns multiply

West Texas Intermediate held above $74 a barrel after futures sank almost 9 per cent in the prior three sessions to erase the year’s gains

Gold

Gold climbs to four-month high as reopening bets weaken dollar

Gold tends to have a negative correlation with the dollar and rates as it does not bear interest and is priced in the US currency

OPEC+ pauses as volatility, China Covid rules roil crude markets

The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months

Kuwait

Kuwait says oil buyers don’t want to boost imports next year

The OPEC member exports about 2 million barrels a day of crude, most of it to Asian countries such as China, South Korea, Japan and India

Honor

‘Honor Magic Vs’ foldable phone launches in China

The device weighs 261g and is said to be the industry’s lightest foldable smartphone currently

Emirates A380 returns to Perth

Emirates boss sees unprecedented travel surge once China reopens

Tim Clark said Emirates flights to Asian destinations that have already reopened are essentially full

Oil steadies after wild ride with Chinese demand, OPEC+ in focus

Oil prices have weakened this month on concerns about demand

Oil

Oil poised for second weekly decline on gloomy demand outlook

Oil is trading near the lowest level since September

Apple

Apple cuts outlook for iPhone shipments on China lockdowns

The company sees strong demand for the iPhone 14 models but the lockdowns mean customers will experience longer wait times to receive their new products

DP World partners with Lin-Gang Special Area to develop Chinese trade zone

The Lin-Gang Special Area offers some of the most innovative and forward-looking business policies for both Chinese and international companies beyond normal free zones offerings

Oil heads for weekly advance as dollar eases, US exports boom

Crude is on course to gain in October following a run of four monthly declines

Gold is heading East as a falling price lures Asian buyers

Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors

Aramco says global oil spare buffers to slump when China reopens

Analysts say there’s only about 2 million barrels a day of capacity that could be brought online quickly should there be a supply shutdowns

Tesla

Tesla delivers record 343,830 cars; misses estimates

The carmaker doesn’t break out sales by geography, but the US and China are its largest markets

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE

Non-oil trade between UAE, China crosses Dhs1.72tn in 10 years

Non-oil trade between the two countries in the first half of 2022 amounted to Dhs118.4bn

iPhone

Apple counts on upscale shoppers to turn latest iPhone into hit

The iPhone 14 line was unveiled earlier this month alongside new Apple Watches and AirPods