
Dubai bourse eases amid US-China trade war; Abu Dhabi gains
Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145% and raising the stakes in a trade war that threatens to upend global supply chains.
Dubai's main share index (.DFMGI), opens new tab fell 0.2%, hit by a 2.2% drop in blue-chip developer Emaar Properties (EMAR.DU), opens new tab and a 4.8% slide in Commercial Bank of Dubai (CBD.DU), opens new tab.
However, the Dubai index managed to eke out a weekly gain of 0.3%.
Regionally, markets were significantly impacted this week by ongoing trade tensions between the U.S. and its economic partners, said Ahmed Negm, Head of Market Research MENA at XS.com.
In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.4%, helped by a 1.7% rise in Alpha Dhabi Holding (ALPHADHABI.AD), opens new tab.
Oil prices - a catalyst for the Gulf's financial markets - rose, but still headed for a second straight week in the red on concerns about a prolonged trade war between the United States and China.
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South Wales Argus
22 minutes ago
- South Wales Argus
Trump to land in Scotland on Friday for start of five-day private trip
The US president is expected to arrive at Prestwick Airport in the evening, before heading over to his Turnberry golf course in South Ayrshire. He is then expected to head over to his Menie golf course in Aberdeenshire before opening up a new course dedicated to his Scottish mother, who grew up on the Isle of Lewis. He will leave the country at some point on Tuesday. Donald Trump last visited Turnberry in 2023 (Andrew Milligan/PA) His presence will result in a significant operation from Police Scotland and thousands of officers, who are expected to deal with mass protests around his golf courses and major Scottish cities. Mr Trump will be greeted by Scottish Secretary Ian Murray when he lands, with the minister pledging to give the American leader a 'warm welcome'. He will meet with Prime Minister Sir Keir Starmer during his stay when the pair will discuss the UK-US trade deal. The US president will also meet with First Minister John Swinney. The SNP leader previously said he would have the opportunity to raise various issues with Mr Trump, including tariffs, Gaza and Ukraine. Donald Trump and Sir Keir Starmer will meet during the president's trip to Scotland (Suzanne Plunkett/PA) Speaking ahead of his arrival, Mr Swinney said the global attention the visit will receive provides Scotland with an opportunity to respectfully demonstrate the principles of freedom and justice for all, while also promoting Scotland's tourism sector and economic investment potential. He said: 'Scotland shares a strong friendship with the United States that goes back centuries. 'That partnership remains steadfast through economic, cultural and ancestral links – including of course, with the President himself. 'As we welcome the President of the United States, Scotland will be showcased on the world stage. 'This provides Scotland with a platform to make its voice heard on the issues that matter, including war and peace, justice and democracy. 'It also includes the millions of Americans – many of them potential future tourists or investors in Scotland – who will watch their elected President as he visits our country. 'As First Minister it is my responsibility to advance our interests, raise global and humanitarian issues of significant importance, including the unimaginable suffering we are witnessing in Gaza, and ensure Scotland's voice is heard at the highest levels of government across the world. 'That is exactly what I will do when I meet with President Trump during his time in Scotland.' First Minister John Swinney will meet Donald Trump during his visit to Scotland (Steve Welsh/PA) The SNP leader said Scotland is a 'proud democratic nation' that 'stands firm on the principles of equality and freedom for all, and a society that stands up for a fair and just world'. Ahead of protests expected around Scotland, he said people had a right to 'peaceful demonstration', adding that 'everyone has the democratic right to protect and express their views in a peaceful, and democratic manner'. 'That is right and proper,' he added. 'I am confident the vast majority of people protesting will do Scotland proud and demonstrate as they should – peacefully and lawfully. 'I am also confident that Scotland's police service can handle the challenge of keeping all our communities safe and, as they must, in maintaining the appropriate security any US President requires. 'This weekend is a landmark moment in our relationship with the United States, and I am certain it will be remembered for Scotland showing the world the very best of itself.'


Glasgow Times
22 minutes ago
- Glasgow Times
Trump to land in Scotland on Friday for start of five-day private trip
The US president is expected to arrive at Prestwick Airport in the evening, before heading over to his Turnberry golf course in South Ayrshire. He is then expected to head over to his Menie golf course in Aberdeenshire before opening up a new course dedicated to his Scottish mother, who grew up on the Isle of Lewis. He will leave the country at some point on Tuesday. Donald Trump last visited Turnberry in 2023 (Andrew Milligan/PA) His presence will result in a significant operation from Police Scotland and thousands of officers, who are expected to deal with mass protests around his golf courses and major Scottish cities. Mr Trump will be greeted by Scottish Secretary Ian Murray when he lands, with the minister pledging to give the American leader a 'warm welcome'. He will meet with Prime Minister Sir Keir Starmer during his stay when the pair will discuss the UK-US trade deal. The US president will also meet with First Minister John Swinney. The SNP leader previously said he would have the opportunity to raise various issues with Mr Trump, including tariffs, Gaza and Ukraine. Donald Trump and Sir Keir Starmer will meet during the president's trip to Scotland (Suzanne Plunkett/PA) Speaking ahead of his arrival, Mr Swinney said the global attention the visit will receive provides Scotland with an opportunity to respectfully demonstrate the principles of freedom and justice for all, while also promoting Scotland's tourism sector and economic investment potential. He said: 'Scotland shares a strong friendship with the United States that goes back centuries. 'That partnership remains steadfast through economic, cultural and ancestral links – including of course, with the President himself. 'As we welcome the President of the United States, Scotland will be showcased on the world stage. 'This provides Scotland with a platform to make its voice heard on the issues that matter, including war and peace, justice and democracy. 'It also includes the millions of Americans – many of them potential future tourists or investors in Scotland – who will watch their elected President as he visits our country. 'As First Minister it is my responsibility to advance our interests, raise global and humanitarian issues of significant importance, including the unimaginable suffering we are witnessing in Gaza, and ensure Scotland's voice is heard at the highest levels of government across the world. 'That is exactly what I will do when I meet with President Trump during his time in Scotland.' First Minister John Swinney will meet Donald Trump during his visit to Scotland (Steve Welsh/PA) The SNP leader said Scotland is a 'proud democratic nation' that 'stands firm on the principles of equality and freedom for all, and a society that stands up for a fair and just world'. Ahead of protests expected around Scotland, he said people had a right to 'peaceful demonstration', adding that 'everyone has the democratic right to protect and express their views in a peaceful, and democratic manner'. 'That is right and proper,' he added. 'I am confident the vast majority of people protesting will do Scotland proud and demonstrate as they should – peacefully and lawfully. 'I am also confident that Scotland's police service can handle the challenge of keeping all our communities safe and, as they must, in maintaining the appropriate security any US President requires. 'This weekend is a landmark moment in our relationship with the United States, and I am certain it will be remembered for Scotland showing the world the very best of itself.'


Reuters
22 minutes ago
- Reuters
South Korea minister meets US commerce secretary in effort to reach tariff deal
SEOUL, July 25 (Reuters) - South Korea's Industry Minister Kim Jung-kwan met U.S. Commerce Secretary Howard Lutnick on Thursday and reaffirmed a commitment to reach a trade deal on tariffs by the August 1 deadline, South Korea's industry ministry said on Friday. During the meeting in Washington, the two discussed how cooperation between the two countries' manufacturing sectors could bolster a deal to lower proposed U.S. tariffs set to be slapped on South Korea, the ministry said in a statement. "We'll do our best so that our companies are not put at a disadvantage relative to those in competing countries," the ministry cited Kim as saying after his meeting. Kim and South Korea's Minister for Trade Yeo Han-koo have been in Washington amid intense efforts by Seoul to reach a deal, which one official said were in the "critical final phase." Kim earlier met U.S. Energy Secretary Chris Wright and Yeo planned to hold talks with U.S. Trade Representative Jamieson Greer, the ministry said. Pressure on South Korea heightened this week after Japan clinched a deal with the United States, which U.S. President Donald Trump said would see Tokyo allowing greater market access for American products including autos and some agricultural products.