UK businesses see first output decline in over a year due to Iran crisis, political turmoil

EU cuts eurozone 2026 growth forecast to 0.9% on Mideast war, inflation forecast hiked to 3.0%.

The European Commission cut its 2026 GDP growth forecast for the euro area to 0.9 percent amid the war in Iran, down from a previous prediction of 1.2 percent. The commission also hiked its forecast for inflation in the eurozone to 3.0 percent this year, compared to a previous 1.9 percent projection.

SpaceX announces plans for $80B IPO, targeting $1.75T valuation as early as June. Elon Musk's personal appeal seen as key factor amid ongoing losses in most divisions.

SpaceX, Elon Musk's company, has announced plans for the world's largest IPO, potentially raising $80 billion and valuing the company at $1.75 trillion, with the share sale expected as early as June. Experts say the success hinges largely on Musk's personal influence, as most of SpaceX's divisions remain unprofitable.

Saudi Arabia's $1T wealth fund eyes logistics giant via asset consolidation

Saudi Arabia's $1 trillion wealth fund considers creating a logistics giant by consolidating transport and supply-chain assets.

Dubai's ruler Hamdan bin Mohammed approves AED 1.5B economic package

Dubai's ruler, Hamdan bin Mohammed, approves a second, larger AED 1.5 billion economic incentives package.