Business

UAE to leave OPEC on May 1 in blow to oil cartel amid oil market turmoil

United Arab Emirates will withdraw from Organization of the Petroleum Exporting Countries (OPEC) on May 1, 2026

Google plans to invest up to $40 billion in Anthropic to expand AI compute capacity

Google has announced plans to invest up to $40 billion in artificial intelligence startup Anthropic PBC

Oil tops $105 as Strait of Hormuz standoff fuels global energy fears

Brent crude surged above $105 per barrel this week as escalating tensions between the United States and Iran disrupted traffic through the Strait of Hormuz, a critical global oil route. The benchmark settled at $105.07 on Thursday and held near...

AI disruption fears spark global market selloff

Global financial markets experienced a significant retreat this week as a wave of speculative concern regarding AI) disruption moved beyond the technology sector to impact logistics, real estate, and traditional finance.

China’s BYD overtakes Tesla as world’s top EV seller in 2025

Chinese automotive powerhouse BYD has officially dethroned Tesla to become the world’s leading seller of electric vehicles on a calendar-year basis.

Apple hits $4 trillion valuation amid iPhone 17 surge

Apple has become only the third publicly traded company in history to briefly crack the $4 trillion market value milestone.

US imposes sweeping sanctions on Russian oil giants Rosneft and Lukoil, Trump cancels Putin summit

The United States has unveiled its most substantial economic measures against Russia since President Donald Trump returned to office in January, targeting the country's two largest oil companies, Rosneft and Lukoil.

US, Australia sign $8.5 billion critical minerals deal to counter China’s dominance

US and Australia formalized a landmark critical minerals agreement, establishing an estimated $8.5 billion pipeline of projects designed to bolster Western supply chains

Gold prices top $4,000 an ounce for the first time ever amid global uncertainty

In a historic marker for the global financial landscape, the price of gold surged past the $4,000 per ounce level for the first time.

Trump Tariffs take effect: Full list of countries facing new US import duties

A sweeping set of U.S. import tariffs has officially taken effect, targeting dozens of countries with new trade duties ranging from 50% to 10%. The move, led by President Donald Trump, marks a renewed escalation in America’s global trade...

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Ethiopia is building Africa’s largest $12.5 billion airport to become continent’s aviation hub

Ethiopia is building what is set to become Africa’s largest airport, a $12.5 billion mega-project aimed at transforming air travel across the continent.