Dr. Simon Miller of the Abu Dhabi Quality and Conformity Council detailed the development and enforcement of UAE food and beverage regulations in an interview. With 85 to 90 percent of UAE food imported, regulators adapt external standards to safeguard supply chains. Priority policies include the federal Nutri-Mark label, tiered sugar taxes, and strict benchmarks for health claims.
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.
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.
Middle East crude exports through the Strait of Hormuz climbed to 14.2 million barrels per day in late September, recovering to nearly 80% of pre-war levels, according to Kpler data cited by Reuters. Despite easing crude availability, Brent prices remain above $100 per barrel due to logistical bottlenecks, including record tanker rates and soaring insurance costs.
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