Oil prices plunged by almost 30 per cent on Monday, after OPEC’s failure to strike a deal with Russia regarding production cuts - it's steepest one-day fall since the 1991 Gulf War.
Saudi Arabia's move to raise crude output has impacted global stock markets, with London’s FTSE down 9 per cent. That followed are sharp sell-off in Asia, where Australian share fell 7 per cent.
By 8:45 am GMT, a barrel of Brent crude had recovered to around $36 a barrel - a decline of 20 per cent.
Sharjah Crown Prince discusses energy strategy with UAE Minister
His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, held talks on energy strategy and infrastructure development with Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, during a meeting in Sharjah on Tuesday.
Dubai’s Saddle Café opens outlet in Courchevel, French Alps
Dubai-born specialty coffee brand Saddle Café has opened its first-ever outlet in Courchevel, marking a significant milestone in its international expansion and introducing an Emirati-founded café concept to one of Europe’s most exclusive winter destinations.
UAE leads high-level delegation to Egypt for CEPA negotiations
Dr. Thani bin Ahmed Al Zeyoudi, UAE's Minister of Foreign Trade, has led a high-level government delegation to Egypt as negotiations continue to secure a Comprehensive Economic Partnership Agreement (CEPA) between the two nations.
Sharjah Ruler approves 2026 general budget of AED 44.5 billion
His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the emirate’s general budget for 2026, with total spending set at around AED 44.5 billion.
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