US President Donald Trump has announced plans for what he described as a $300 billion refinery investment in Texas backed by India’s Reliance Industries, calling it the first new oil refinery to be built in the United States in nearly 50 years and a major step toward restoring American energy dominance.
Aramco warned the Strait of Hormuz disruption from the Iran war could have “catastrophic consequences” for global oil markets and trigger ripple effects across shipping, insurance, aviation, agriculture and automotive industries.
US President Donald Trump's administration said it used $5.6 billion in munitions during the first two days of strikes against Iran in a report provided to US congressional committees, reported Reuters citing a source familiar with the information.
The repercussions of the joint military operation by the US and Israel against Iran and subsequent retaliatory action will see the further weaponisation of trade and shatter prospects of a large-scale return of container shipping to the Red Sea in 2026, said a leading logistics industry expert.
The ongoing Middle East conflict involving US, Israel and Iran has impacted several major landmarks in the region including Burj Al Arab, Palm Jumeirah, Dubai International Airport, Jebel Ali Port in UAE as well as Crowne Plaza, a premium five-star hotel in Bahrain.
Global power demand is set to grow by more than 3.5% per year on average over the rest of this decade, with electricity generation from renewables, natural gas and nuclear all expanding to keep pace, according to a new International Energy Agency (IEA) report.
The United Arab Emirates and the United States have signed a Framework on Securing Supply in the Mining and Processing of Critical Minerals and Rare Earths, on the sidelines of the US Critical Minerals Ministerial in Washington, D.C.
The United States and India have agreed to a long-anticipated trade deal aimed at easing bilateral tensions and lowering tariffs, with US President Donald Trump announcing a sharp reduction in reciprocal tariffs on Indian goods and a major purchasing commitment from New Delhi.
US President Donald Trump has ordered all federal agencies to immediately cease their use of artificial intelligence products developed by the startup Anthropic, in the latest escalation of tensions between the White House and Silicon Valley over the role of AI in national security.
At least one person has been killed in Abu Dhabi, the capital of the United Arab Emirates, in multiple missile launches by Iran that targeted US bases across the Gulf region.
