Saudi Arabia, UAE and Turkey have taken delivery of the largest number of business jets in the region. That’s according to Private Jet Charter, an independent jet charter broker, who have released their results for the first half of 2015. Orders by the three countries accounted for over 70% of the overall fleet. Figures from their latest report also reveal that the Middle East’s fleet of business jets could grow from the current 395 to almost 750 by 2023, and to over 1,400 by 2033.
Nasdaq set to confirm bear market as Trump tariffs trigger recession fears
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China to impose tariffs of 34% on all US goods
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Shares bruised, dollar crumbles as Trump tariffs stir recession fears
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.
Wall Street futures sink as tariffs fuel recession fears
US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.
The Ministry of Justice said seven companies reportedly based in the UAE and sanctioned by the United States for ties to Sudan do not operate in the country.
Dubai Police announced on Friday it arrested 222 beggars during Ramadan and Eid, after a campaign was launched under the slogan “An Aware Society, Free of Begging,” in partnership with other government entities.
Drivers will have to pay more for parking in some parts of Dubai starting Friday, with premium rates starting at AED 6 an hour.
