The Islamic economy is growing nearly twice as fast as the global economy, according to Thomson Reuters, with the UAE taking a hearty chunk of that market, coming second only to Malaysia. Muslim consumer spending exceeds USD 1.8 trillion (AED 6.6 trillion). Mustafa Adil, acting Head of Islamic Finance at Thomson Reuters, says halal food, shariah-compliant tourism and Islamic finance are the biggest drivers.
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Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China to impose tariffs of 34% on all US goods
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Shares bruised, dollar crumbles as Trump tariffs stir recession fears
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.
Wall Street futures sink as tariffs fuel recession fears
US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.
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