BEIJING: China’s rapid shift to electric vehicles is reshaping the world’s largest auto market and dulling growth in the transport fuel demand that once underpinned its appetite for imported crude, including heavy oil from Venezuela. The International Energy Agency said China sold over 11 million electric cars in 2024, with…

MENA Newswire, SEOUL: South Korea’s consumer inflation eased to 2.0% in January from 2.3% in December, as measured by the consumer price index, government data released Tuesday showed. The CPI, with 2020 set to 100, rose to 118.03 in January. On a month-to-month basis, prices increased 0.4%, following a 0.3% rise in…

MENA Newswire, NEW DELHI: India’s government has proposed a tax holiday through 2047 for foreign companies that provide cloud services to customers worldwide while running those workloads using data centre services based in India, a long-horizon incentive unveiled in the Union Budget 2026 to strengthen the country’s role in global…

MENA Newswire, NEW YORK: Gold and silver prices tumbled in a sharp, disorderly selloff that erased an estimated $7 trillion in notional value across precious metals, after a record-setting rally gave way to forced liquidations, margin pressures, and a stronger U.S. dollar. The drop reverberated across commodities and global equities, underscoring…

WASHINGTON: More than seven years after President Donald Trump launched sweeping tariffs on Chinese goods, official data and widely cited economic studies show the measures raised costs inside the United States while leaving the core U.S. goods trade deficit with China largely intact. The tariff program began in 2018 under a…

MENA Newswire, BUENOS AIRES: Argentina has repaid the United States $2.5 billion that it drew under a short term currency swap credit line from the U.S. Treasury, completing the repayment by the end of December 2025, according to statements from U.S. and Argentine authorities. The repayment closes out Argentina’s…

MENA Newswire, ABU DHABI: The World Bank has forecast that the United Arab Emirates economy will grow by 5 percent in 2026 and 5.1 percent in 2027, positioning the country among the fastest growing economies in the Middle East and well above the projected global average. The outlook was published…

MENA Newswire, SAN FRANCISCO: Shares of Alphabet Inc. rose sharply on Monday, lifting the Google parent’s market capitalization above $4 trillion for the first time and placing it among a small group of companies to reach that valuation threshold. The milestone was achieved during intraday trading as Alphabet’s Class A and Class…

MENA Newswire, SAN FRANCISCO: Apple has entered into a multi year agreement with Google to integrate Google’s Gemini artificial intelligence models into Siri, marking one of the most significant partnerships between the two technology companies in recent years and a major shift in how Apple powers its digital assistant. The…

NEW YORK: The global economy is experiencing a period of subdued economic performance marked by weak momentum and limited expansion, according to the latest assessment by the United Nations. The organisation said current conditions reflect an environment in which economic activity is restrained and operating close to stagnation in many regions,…

CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South America, where the detention of Venezuelan President Nicolás Maduro by U.S. forces has…

MENA Newswire, AUSTIN, Texas: Tesla Inc. reported 418,227 vehicle deliveries for the fourth quarter of 2025, marking a 16 percent decline from the 495,570 units delivered in the same period a year earlier. The result fell short of analyst expectations, reflecting slower electric vehicle demand in several key markets and production constraints during the…