OPEC+ Agrees on Small Oil Output Hike Without UAE
OPEC+ has agreed in principle to a modest oil output quota increase similar to last month's hike, excluding the UAE, which plans to leave the group from May 1.
Category : International Trade
Venezuela Oil Exports Surge to 7-Year High in April
Venezuela's crude exports jumped 14% in April to 1.23 million barrels per day, the highest since 2018, driven by demand from the US, India, and Europe after sanctions eased.
Israel Deploys Iron Beam Laser System to UAE Amid Iran Conflict
Israel has supplied the UAE with the advanced laser-based 'Iron Beam' air defence system to counter Iranian drone and missile attacks, deepening defence ties under the Abraham Accords.
US Approves $8.6B Military Sales to Middle East Allies
The US has approved over $8.6 billion in military sales to Middle Eastern allies, as the nine-week conflict with Israel against Iran continues.
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US Sanctions Chinese Oil Terminal Over Iran Trade
The US has imposed sanctions on a Chinese oil terminal for facilitating trade with Iran, escalating economic pressure on Tehran.
Trump Threatens 25% Tariffs on EU Cars Over Trade Dispute
Former US President Donald Trump announces 25% tariffs on European Union cars and trucks, citing non-compliance with a trade deal.
Trump to Hike EU Car Tariffs to 25% Next Week
US President Donald Trump announced a 25% tariff on EU cars and trucks, accusing the bloc of not adhering to a trade deal. Vehicles made in US plants will be exempt.
Pakistan Admits Fuel Vulnerability Amid Global Oil Shock
Pakistan admits it lacks strategic oil reserves like India, leaving it exposed to global oil shocks as crude prices hit $126 per barrel amid Middle East tensions.
Trump Plans Coalition to Open Strait of Hormuz
US President Donald Trump plans to form an international coalition to reopen the Strait of Hormuz, as oil prices rise. France and the UK have expressed conditional willingness to contribute.
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West Asia Crisis Poses Supply Shock, Inflation Risk
The Finance Ministry warns that the West Asia crisis could cause supply shocks and spread inflation across the economy if recovery is delayed.
Chinese, Indian Tourists Top US Spenders Despite Insults
A US study reveals that visitors from China and India, despite being labeled from 'hellholes' by Trump, are the biggest spenders in America, contributing $169.8 billion and supporting 906,000 jobs in 2024.
India-NZ Trade Deal: Safeguards Protect Domestic Sectors
India and New Zealand deepen trade and investment ties with a new agreement that includes essential safeguards to protect sensitive domestic sectors. The deal balances market access with strategic protections.
India-NZ FTA: Kant Hails Future-Ready Indo-Pacific Deal
Amitabh Kant praises India-New Zealand FTA as a future-ready deal for the Indo-Pacific, lauding Ministers Goyal and McClay for their efforts.
UAE's OPEC Exit Game Changer for Energy Politics: Ex-Envoy
Former Indian diplomat Ashok Sajjanhar says UAE's exit from OPEC is a game changer for global energy geopolitics, reshaping alliances and oil market dynamics.
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UAE Leaves OPEC: Impact on Global Oil Markets
The UAE's departure from OPEC, citing long-term economic vision, signals a strategic shift. Analysts see deeper motives as the nation prioritizes production capacity and market share.
UAE's OPEC Exit Signals Cartel's Decline as Market Stays Calm
The UAE's departure from OPEC, while markets remain unfazed, underscores the cartel's waning influence. Analysts warn of a potential domino effect, weakening Saudi-led coordination and reshaping global oil dynamics.
US Treasury: Iran Oil Losing $170M Daily Under Blockade
US Treasury Secretary claims Iran's oil industry is 'creaking' under US blockade, estimating $170 million daily loss. The statement underscores ongoing economic pressure.
Australia Plans Tax on Meta, Google, TikTok for News
Australia's government has proposed a 2.25% tax on digital platforms like Meta and Google that refuse to pay news publishers, aiming to raise up to AUD 250 million annually for journalism.
US Sanctions Iran's Shadow Banking Network
The US Treasury imposed sanctions on 35 entities and individuals involved in Iran's shadow banking system, targeting networks that facilitate illicit financial flows and evade American restrictions.
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UAE Exit from OPEC Reflects Policy Evolution: Minister
UAE Energy Minister says the country's decision to leave OPEC reflects a policy-driven evolution, focusing on future energy strategies and long-term goals.
UAE to Leave OPEC and OPEC+ from May 1
The United Arab Emirates will withdraw from OPEC and OPEC+ effective May 1, state media announced, citing long-term strategic and economic vision. This decision marks a significant shift in global oil markets.
India Signs 9 FTAs in 6 Years, Boosting Global Trade
India has signed 9 Free Trade Agreements (FTAs) in the last 6 years, significantly enhancing its global trade relations and economic integration.
Top IMF Borrowers: These 10 Nations Owe More Than Pakistan
Contrary to popular belief, Pakistan is not the largest IMF debtor. Discover the top 10 countries that owe significantly more to the International Monetary Fund.
India Must Reposition as Global Tourism Hub: EY-FICCI Report
A new EY-FICCI report at GITB 2025 urges India to revamp tourism branding, pricing, and visitor experience to attract more international tourists and boost economic growth.
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India-New Zealand FTA Signed, Boosting Bilateral Ties
India and New Zealand signed a historic Free Trade Agreement, marking a milestone in their partnership. PM Modi and PM Luxon hailed the deal for strengthening economic ties and shared values.
India-New Zealand Trade Pact: Bolstering Bilateral Ties
India and New Zealand are negotiating a comprehensive trade agreement to boost bilateral trade, investment, and economic cooperation, aiming to unlock new opportunities for businesses.
India-New Zealand Free Trade Agreement Explained
India and New Zealand are negotiating a free trade agreement to boost bilateral trade, covering goods, services, and investments, with potential benefits for both economies.
India, NZ Sign Free Trade Deal, Target $20 Billion Investment
India and New Zealand signed a free trade agreement on April 27, 2026, aiming to drive $20 billion investment. India will eliminate duties on 30% of tariff lines, including wood, wool, sheep meat, and leather.
Strait of Hormuz Shipping Traffic Muted Amid Stalled US-Iran Talks
Shipping traffic through the Strait of Hormuz remains subdued as no US-Iran deal is in sight, impacting global oil and trade flows.
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India, New Zealand Sign Free Trade Agreement for $20 Billion
India and New Zealand sign a free trade agreement, aiming to drive $20 billion in investment. India will eliminate duties on 30% of New Zealand's tariff lines, including wood, wool, sheep meat, and leather.
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