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Al-Jazira Bank Saudi Q2 profits rise 16%

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Al-Jazira Bank Saudi Q2 profits rise 16%

Rising costs impact maritime shipping

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Rising costs impact maritime shipping

Dubai invests over 10 billion dirhams in energy projects

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Dubai invests over 10 billion dirhams in energy projects

Burnham government reduces household electricity taxes

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Burnham government reduces household electricity taxes

Goldman Sachs: Brent may hit $120 if Hormuz issues persist

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Goldman Sachs: Brent may hit $120 if Hormuz issues persist
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Washington reduces aluminum tariffs for local firms

The administration of U.S. President Donald Trump announced a stimulus program that reduces import tariffs on aluminum to about 25% instead of 50% for companies that build, expand, or modernize smelters within the United States, aiming to boost domestic production. This reduction comes after a 1.5% decline in global production in June 2023, following attacks on Gulf-region smelters that significantly decreased their output, and after aluminum premiums in the U.S. market surged by approximately 100%, increasing costs for American industries. Despite efforts to rebuild its production capabilities, the United States remains heavily reliant on imports, especially from Canada and Middle Eastern countries.

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