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UAE exits oil production groups OPEC, OPEC+ amid global energy crisis
UAE exits oil production groups OPEC OPEC amid global energy crisis
UAE leaves Opec and Opec+ in huge blow to global oil producers' group
The United Arab Emirates (UAE) said on Tuesday it quit Opec and Opec+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the war on iran has caused a historic energy shock and unsettled the global economy. The stunning loss of the UAE, a longstanding Opec member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production quot...
UAE announces decision to exit OPEC & OPEC+
The United Arab Emirates today announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective May 1, 2026.This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.
Frédérique Carrier on Central Bank Patience
Frédérique Carrier, Head of Investment Strategy for UK and Asia at RBC Wealth Management, discussed the recent hawkish stance of the Bank of Japan and contrasted it with expectations for the European Central Bank and the Bank of England. While the Bank of Japan appears to be responding to inflationary pressures more aggressively, both the ECB and BoE are expected to hold rates steady in their upcoming meetings. (Source: Bloomberg)
UAE to Leave OPEC and OPEC+ Next Month to Pursue New Strategy
The United Arab Emirates has decided to leave the OPEC oil producer group after six decades as it plans a strategic realignment in the wake of the Iran war, according to the state-run WAM news agency.
UAE announces decision to withdraw from Opec, Opec+ from May 1
The United Arab Emirates announced today its decision to withdraw from the Organisation of the Petroleum Exporting Countries (Opec) and Opec+, effective May 1, 2026.This decision is in line with the UAE’s long-term strategic and economic vision and the development of its energy sector, including accelerating investment in domestic energy production, and reinforces its commitment to its role as a responsible and reliable producer that looks to the future of global energy markets.This decision cam...
45,800 employees laid off in March 2026, worst layoff month in two years
employees laid off in March worst layoff month in two years
Spotify grows number of paying subscribers despite price hikes
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Novogratz’s Galaxy Digital Posts Loss as Crypto Rout Lingers
Galaxy Digital Inc., the crypto financial services conglomerate founded and run by billionaire Michael Novogratz, posted a narrower-than-estimated first-quarter loss, citing a shift toward data centers in the business mix as recurring fee revenue and transaction income continue to improve. Revenue was higher than analysts’ estimates.
Why retailers cutting digital budgets right now will pay three times over
There is a pattern that repeats itself every time economic conditions tighten. Budgets get reviewed and discretionary programmes get deferred. And digital transformation, often viewed in some boardrooms as an ambition rather than a necessity - gets quietly moved to the bottom of the list.Get updated faster and for FREE: Download the Gulf News app now - simply click here.I understand the instinct. When trading is uncertain, cutting feels like discipline. But I have spent enough time building digi...
Warren Presses Bank Regulators on Trump’s Call to Cap Card Rates
Senator Elizabeth Warren pressed US regulators on whether they plan to take action to rein in lenders after President Donald Trump’s push earlier this year for a temporary 10% cap on credit card rates resulted in little change.
GM Hikes Profit Outlook on Strong Truck, SUV Demand
General Motors CFO Paul Jacobson says the automaker has not added significant price increases as he discusses first-quarter earnings that included a rise in the company’s profit outlook. Jacobson talks about supply chain challenges related to the Iran war, where inflation is impacting costs, and how customers are reacting to higher gas prices. (Source: Bloomberg)
Higher Expenses Cut Into TelevisaUnivision Q1 Operating Income
Spanish-language media giant TelevisaUnivision said higher operating expenses tied to Mexican broadcasts of the Winter Olympics cut into its cash flow in the first quarter, while efforts to generate more advertising in the U.S. met with headwinds. The company has been working to bolster its balance sheet since Wade Davis, the former Viacom CFO who orchestrated […]
Morocco Allocates $5,36 Billion to Support Purchasing Power
Agadir – Morocco’s Minister of Economic Inclusion, Younes Sekkouri, said on Monday that the government is allocating MAD 49.7 billion ($5,36 billion) by the end of 2026 and the beginning of 2027 to support purchasing power and reducing social disparities. “The government has made a significant financial effort. The figure we present today is MAD 49.7 billion ($5,36 billion) by the end of this year and the beginning of next year, MAD 49.7 billion ($5,36 billion) dedicated to supporting purc...
Indian Airlines Crisis: बंद होने की कगार पर एयरलाइंस! सरकार से मदद की लगाई गुहार... जानिए वजह
Indian Airlines Crisis
Centene’s Obamacare Enrollment Drops By 2 Million After Congress Strips Subsidies
InnovationHealthcareCentene’s Obamacare Enrollment Drops By 2 Million After Congress Strips SubsidiesByBruce Japsen,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Bruce Japsen writes about healthcare business and policy.Follow AuthorApr 28, 2026, 07:40am EDTApr 28, 2026, 07:53am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Centene headquarters in the St. Louis suburb of Clayton,...
Renault India expands to 638 touchpoints, opens new'R store in Ranchi
Renault India expands to touchpoints opens newR store in Ranchi
Drivers to be offered cashback on fuel thanks to Barclays and Tesco partnership
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54% MBA students expect Rs 12 LPA+, but fewer land it: What the data shows
MBA students expect Rs LPA but fewer land it What the data shows
Supply Shocks And Recession Risk: A Guide For Business Leaders
LeadershipLeadership StrategiesSupply Shocks And Recession Risk: A Guide For Business LeadersByBill Conerly,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Bill Conerly connect the dots between the economy ... and business!Follow AuthorApr 28, 2026, 07:30am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Frustrations of recessiongettyRecession is one of the best economics books I’ve...