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Industry News

Saudi Arabia Cuts November Oil Prices to Asia to Six-Year Lows

Saudi Aramco has unexpectedly reduced its official selling prices for crude oil delivered to Asia in November to six-year lows. The flagship Arab Light grade was priced at a 5-dollar-per-barrel discount to the Oman and Dubai benchmark average, marking a 3-dollar reduction from October. Asian refining sources indicated the price cuts appear intended to offset elevated freight costs and safeguard export market share.

Industry News

Gold Surges Past $4,150 Amid Slower US Jobs and Central Bank Inflows

Spot gold rose 0.4% to $4,158.17 an ounce after weak US employment figures reduced the perceived probability of an October Federal Reserve rate hike. The price recovery was supported by safe-haven buying from Middle East tensions, record global ETF inflows, and a 20-tonne gold purchase by China's central bank in August.

Policy & Legal Updates

Dubai Appeal Court Acquits Two in Dh13.5 Million Cheque Breach of Trust Case

The Dubai Court of Appeal has acquitted a businessman and a lawyer in a Dh13.5 million breach of trust case. The ruling overturned a lower court conviction that imposed a one-year prison sentence and an equivalent fine. The court determined that the dispute stemmed from a commercial settlement rather than a criminal offence.

Industry News

UAE Non-Oil PMI Holds at 20-Month High of 55.3 in September

The seasonally adjusted S&P Global UAE Purchasing Managers' Index remained at 55.3 in September 2026, matching August's 20-month high amid stronger domestic and export demand. Selling prices increased at their fastest pace since May 2011 as businesses passed along elevated raw material, freight, and shipping costs. Dubai's PMI rose to a 2026 high of 54.5, supported by the strongest foreign order expansion in two years.