business

Ajman Bank launches debut sukuk with $2.7 billion demand from global investors

The bank successfully priced the $500 million sukuk at a fixed profit rate of 5.125 percent 

China eases tariffs on selected U.S. goods to mitigate economic strain

Exemptions follow conciliatory statements from Washington amid rising fears of global recession

Lebanon: New banking secrecy reforms to restore financial stability, fulfill IMF demands

New law allows regulators to access ten years of banking records to combat corruption

Al Khayyat Investments opens fulfillment center in Dubai Industrial City

The Dubai facility quadruples AKI’s capacity, handling over 1.5 million units daily for partners

World’s largest sovereign wealth fund faces $40 billion loss as tech sector struggles

CEO noted significant market fluctuations affected investor sentiment and fund performance 

UAE Ramadan travel soars 6 percent with mid-market tourists leading the way, Visa reports

Emerging markets like Azerbaijan and Tajikistan showed remarkable spending growth among UAE travelers 

Lebanon: World Bank approves $250 million loan with plans to increase to $400 million

Finance Minister Yassine Jaber announced loan details after meeting World Bank Vice President Osama Weden 

U.S. signals possible 25 percent increase in tariff on Canadian imported vehicles

Canada is a key auto exporter to the U.S. with integrated supply chains under USMCA 

Saudi Arabia’s non-oil exports surge 14.3 percent to $7 billion in February 2025

National non-oil exports (excluding re-exports) saw a rise of 0.7 percent, totaling SAR16.07 billion

U.S. crude oil stockpiles surge by 244,000 barrels, gasoline inventories plummet by 4.5 million: EIA 

U.S. crude imports surged 1.14 million barrels daily, the highest increase since late 2024 

Oil prices rise to $66.18 following 2 percent dip on potential OPEC+ output increases

The U.S. and China could be moving closer to trade talks, which gives oil prices some support

IMF raises Egypt’s growth forecast to 3.8 percent for 2025, 4.3 percent next year

Adjustment improves upon January forecasts of 3.6 percent and 4.1 percent for the economy