New Zealand, UAE reach trade pact 

New Zealand Trade Minister Todd McClay with other dignitaries during the signing ceremony. Supplied
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Updated 26 September 2024
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New Zealand, UAE reach trade pact 

SYDNEY: New Zealand on Thursday reached a trade deal with the UAE, which it said would unlock economic opportunities for exporters and boost supply chains with one of its most important trading partners in the Middle East. 

The trade deal will remove duties on 98.5 percent of New Zealand’s exports with that proportion expected to rise to 99 percent within three years, Trade Minister Todd McClay said in a statement. 

“This will create new opportunities for New Zealand businesses in the dynamic UAE market, contributing to our ambitious target of doubling exports by value in 10 years,” McClay said. 

Two-way trade between the countries was valued at 1.3 billion New Zealand dollars ($813.5 million) in the year to June 2024. 

The agreement was concluded in over four months following the beginning of talks in May, making this New Zealand’s fastest-ever trade agreement negotiation, McClay said. 

Australia and the UAE concluded a similar trade deal earlier this month. 


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.