Oil rises 1% on Iran sanctions, drop in US crude stocks

Market finds support after Trump backed off from threats to fire Fed Chair Jerome Powell; Brent futures rise 0.9%, WTI by 0.94%

China warns South Korean companies over exporting products with rare earth minerals to U.S. defense firms

Beijing's letters to South Korean firms highlight the risk of sanctions if export restrictions on key materials are violated.

IMF lowers Saudi Arabia’s 2025 GDP growth forecast amid global oil market pressures

Cites slower oil recovery and regional challenges for growth downgrade

Microsoft signs $544 million hyperscale data center deal with Dubai’s du

Currently, du operates five data centers in the UAE

Google rejects OpenAI’s request to access search API, ChatGPT exec tells antitrust trial

OpenAI initially reached out to Google in July, but the tech giant declined the request in August, citing competitive concerns

Vietnam clamps down on fraud on US exports, document shows

The ministry says that trade fraud was likely to increase amid growing tension caused by U.S. tariffs

Dollar remains weak amid Fed concerns and trade tensions

U.S. dollar index rises 0.26% to 98.599 after falling to 97.923 in the previous session, the lowest level since March 2022

Oil prices rebound over $1 per barrel after U.S. sanctions on Iran

Brent crude futures rise by 2.6% reaching $68 per barrel, while U.S. West Texas Intermediate (WTI) crude contract gains 3.1% to settle at $65.04

Tesla settles wrongful death lawsuit tied to acceleration issue

The plaintiffs accuse Tesla of being aware of numerous reports of sudden unintended acceleration in its vehicles

Mercedes-Benz unveils Vision V electric luxury van series

German automaker aims to carve out a fresh niche in the premium electric vehicle market

U.S. finalizes steep tariffs on Southeast Asian solar imports

Since the investigation begins, imports from the four countries decline as alternative sourcing gains traction

India’s CCI fines Google TV in market abuse case

In response, Google submits a settlement application proposing key changes to its business practices

Saudi Aramco agrees with China’s BYD to explore new EV technology

Company is exploring ways to potentially optimise transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts, says Aramco’s Senior Vice President of Technology Oversight 

Turkey adopts proactive economic strategy amid global trade tensions

Ankara pledges active policy shifts to shield local markets from global trade fallout

Gulf markets slip as investor sentiment weakens over U.S. political pressure on Fed

Oil-linked stocks lead losses as Trump’s tariff threats and Fed criticism raise global economic concerns