Recently, former U.S. President Donald Trump proposed a controversial 20% fee for cargo ships navigating the Strait of Hormuz, although this plan was swiftly retracted. Nevertheless, the idea has reignited concerns regarding the stability of India’s energy supplies and the associated costs. If such a fee were to be implemented, it would not only increase...
The United States military has taken decisive action by reinstating its blockade on Iranian ports, emphasizing a proactive approach as tensions escalate in the Strait of Hormuz. This move comes in light of recent attacks carried out by Iran against commercial vessels in the crucial shipping corridor, heightening concerns of a broader conflict in the...
The crude oil market experienced a notable uptick on Tuesday, with August West Texas Intermediate (WTI) crude oil closing at an increase of 1.54%, marking a one-month high. This surge reflects heightened market anxiety driven by ongoing hostilities between the United States and Iran, a situation that continues to disrupt global supply chains and fuel...
Dealing.com has achieved a remarkable milestone by introducing more than 24,000 tokenised stocks, a move that has been officially recognized by Guinness World Records. This groundbreaking achievement was celebrated in the presence of H.E. Dr Thani bin Ahmed Al Zeyoudi, marking a significant highlight in the fintech landscape of the UAE. The introduction of such...
On Monday, oil prices in the Strait of Hormuz experienced a significant surge of 9.6%, marking the largest daily increase for Brent crude since 2020. This spike came on the heels of a renewed US naval blockade against Iran that was reinstated by former President Trump. The escalation of geopolitical tensions has raised concerns among...
The United Arab Emirates is poised to implement a new investment policy aimed at the urea production sector, potentially leading to a reduction in imports of this vital agricultural input. The measure is scheduled for discussion by the Cabinet this Wednesday, reflecting an increasing commitment to enhance local manufacturing capabilities. Under the proposed policy, producers...
U.S. Senator Elizabeth Warren has raised concerns about recent developments that allow the United Arab Emirates (UAE) to gain improved access to American AI chip technology. Her scrutiny is particularly focused on potential ties involving a controversial investment linked to the cryptocurrency exchange Binance, which is associated with former President Donald Trump. Warren’s call for...
DP World, a leading global logistics company, has announced a strategic equity investment in Maithri Aquatech, a firm based in Hyderabad, India. This collaboration marks a significant step towards the integration of innovative water generation technology within DP World’s extensive global operations. The investment is primarily focused on facilitating the pilot deployment of atmospheric water...
2PointZero, an investment firm based in Abu Dhabi, has successfully completed its acquisition of Traverse Energy, a US natural gas company, in a deal valued at $2.25 billion. This strategic move marks a significant step for 2PointZero, expanding its portfolio and strengthening its foothold in the North American energy sector. The acquisition not only provides...
The Indian government has introduced a significant tax exemption that will benefit certain transactions with eligible units operating within the GIFT City International Financial Services Centre (IFSC). Specifically, payments related to interest, dividends, commissions, and professional fees to these designated units will now be free from the Tax Deducted at Source (TDS) regulations. This move...