Saudi Arabia announces further oil cut of 1 million barrels per day
Following a meeting of OPEC+ major oil producers on Sunday, Saudi Arabia’s energy minister said his country would slash oil output further by one million barrels per day in a…
UAE reveals it withdrew from US-led maritime coalition ‘months ago’The UAE also refuted western media reports that claim the country is ‘frustrated’ over Washington’s weak response to Iran’s seizure of oil tankers in Gulf waters
The UAE revealed on 31 May that it withdrew its forces from the US-led ‘Combined Maritime Forces’ two months ago after evaluating its security agreements.“As a result of our ongoing…
Wall Street in for bloodbath starting Monday, experts say
After US President Joe Biden signed a debt ceiling deal on Saturday, the Treasury is about to unleash a tsunami of new bonds to quickly refill its coffers, Bloomberg reported.…
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Level of well-being required to be in the top 1% of the richest residents of their country, USD
UAE introduces first-ever 9% corporate tax
The United Arab Emirates has introduced a 9% business tax with exemptions for numerous free zones as the formerly tax-free oil producer seeks to boost non-oil revenue and remain a…
BRICS encourages use of local currencies in trade
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based, open and transparent global trade, according…