Shweta Jain

Dubai

Assistant Business Editor at The National

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Articles

Adnoc Drilling secures $1.15bn offshore contract for AI-integrated jack-up rigs

1 week ago | thenationalnews.com | Shweta Jain

Adnoc Drilling, the Middle East's largest drilling company, has awarded a $1.15 billion contract for two jack-up rigs to Adnoc Offshore as the company continues to expand its fleet. The 15-year contract is the third major one in just over a month, bringing total awards to $3.6 billion, Adnoc Drilling said on Tuesday in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.
Air Arabia to start accepting payments in AE Coin

1 week ago | thenationalnews.com | Shweta Jain

Visitors board an Air Arabia plane. Those who want to use AE Coin to book a flight will need to download the AEC Wallet app from the App Store or Google Play. Chris Whiteoak / The National
Adnoc awarded contracts worth $17.9bn in first half of 2025

2 weeks ago | thenationalnews.com | Shweta Jain

Over the next five years, Adnoc plans to channel an additional Dh200 billion into the UAE economy through its ICV programme. Victor Besa / The National
Trump's Gulf tour ends with trillions in deals, a $400m Qatari jet and royal luxury

3 weeks ago | thenationalnews.com | Deena Kamel |Aarti Nagraj |Shweta Jain |Sarmad Khan

US President Donald Trump speaks next to Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, at a business forum during the final stop of his Gulf visit in Abu Dhabi. Reuters
US and China reach trade deal to slash tariffs by 115%

3 weeks ago | thenationalnews.com | Shweta Jain

A trade deal has been reached between the US and China. US Treasury Secretary Scott Bessent claimed the move would see tariffs slashed by 115 per cent. There will be a 90-day pause to allow the superpowers to hammer out further economic and trade details. The announcement follows US's productive talks with Chinese officials in Geneva on Sunday.
Abu Dhabi’s IHC and BlackRock set up $1bn reinsurance company | The National

4 weeks ago | thenationalnews.com | Shweta Jain

International Holding Company, one of the UAE's most valuable listed companies, has partnered with the world's biggest asset manager BlackRock to launch a $1 billion reinsurance company. The company, which is yet to be named, will be backed by more than $1 billion in initial equity commitments, and will target $10 billion in liabilities, IHC said in a filing on Friday to the Abu Dhabi Securities Exchange.
Mubadala asset base grows on back of AI and future-focused investments

1 month ago | thenationalnews.com | Shweta Jain

Mubadala Investment Company, Abu Dhabi’s strategic investment arm, posted a 9.5 per cent increase in its asset base last year, driven by investments in future-focused sectors including artificial intelligence, health care and advanced manufacturing. Mubadala’s total assets under management in 2024 reached Dh1.2 trillion ($326 billion), with annualised returns of 10.1 per cent over five years, the company said on Thursday.
Middle East markets tumble after sharp fall in Asia amid tariff chaos | The National

2 months ago | thenationalnews.com | Sarmad Khan |Deepthi Nair |Shweta Jain

Hong Kong's Hang Seng index drops by 13.55 per cent while China's Shanghai Composite Index falls 7.34 per cent
Oil sinks as Saudi Arabia slashes prices ahead of Opec+ output boost

2 months ago | thenationalnews.com | Shweta Jain

On Sunday, the world’s leading oil exporter sharply cut May crude prices for its Asian buyers
Oil on track for worst weekly loss in months on Trump tariffs and Opec+ supply decision

2 months ago | thenationalnews.com | John Benny |Shweta Jain

Oil prices extended their losses on Friday and were on track to record their worst weekly decline in months as markets feared the impact of US tariffs on the global economy and Opec+'s surprise decision to boost oil supply. Brent, the benchmark for two thirds of the world’s oil, was down 0.94 per cent at $69.48 a barrel at 8.40am UAE time. West Texas Intermediate, the gauge that tracks US crude, was 0.99 per cent lower at $66.29 a barrel.