Dubai: A couple of new car models and lots of computer touchscreens — are the UAE auto showrooms ready to make that kind of transition? “For the human element, all that may be needed will be one sales person and another who is well versed in everything technological,” said Michel Ayat, CEO of AWR Automotive. […]
WASHINGTON: The US Trade Representative’s office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01am. EST (0501 GMT) on March 2, 2019 as the United States and China pursue talks on trade and intellectual property. The change was made in a Federal Register […]
BEIJING: China’s economy should grow 6.0-6.5 per cent next year, with a boost from “moderately loose” economic policy, a researcher at the state planner said on Tuesday, dismissing concerns there could be a sharp slowdown. But Du Feilun, director of the Institute of Economic Research at the National Development and Reform Commission (NDRC), said China […]
Dubai: The Abu Dhabi-based Al Jaber Group has agreed restructuring terms for Dh5.9 billion ($1.61 billion) in debt, sources familiar with the matter said, potentially ending a long-running dispute with its creditors. Under the deal likely to be implemented by the end of March, Al Jaber will reduce debt throught asset sales and a discounted […]
US President Donald Trump has repeatedly attacked Federal Reserve Chairman Jerome Powell’s interest-rate increases as a drag on US economic growth. They’re also cutting into his own fortune. Every time the Fed raises rates, Trump’s payments on some $340 million (Dh1,248 million) in variable-rate loans go up. Since his January 2017 inauguration, the Fed’s steady […]
Ajman: The general budget of the Ajman Government for 2019 to 2021, a portion of which is geared towards improving the business environment in the emirate, has been approved. In the latest budget approved by His Highness Shaikh Humaid bin Rashid Al Nuaimi, supreme council member and ruler of the emirate, more funds are being […]
Nissan Motor Co. updated its corporate governance code, a month after the shock arrest and indictment of former chairman Carlos Ghosn brought differences with partner Renault SA out in the open after a two-decade partnership. As part of the new code, Nissan clarified its policy on cross-shareholdings, in which two companies hold stakes in each […]
Dubai is a major hub for e-commerce regionally and globally There are seven trust service providers (TSP) licensed by the Telecommunications Regulatory Authority (TRA) in the UAE, statistics released recently by the TRA show. TSP is a person or legal entity providing and preserving digital certificates to create and validate electronic signatures and to authenticate […]
Dubai: The ongoing Brexit drama took yet another bizarre twist this week, as a vote of no confidence was called in Prime Minister Theresa May. She now faces the real prospect of being dethroned and replaced by someone else from within her party. We’ll have more details as they become available. On today’s episode, we […]
Tokyo: Former Nissan boss Carlos Ghosn will be spending Christmas and the beginning of 2019 behind bars after a Tokyo court on Sunday extended his detention through to January 1. The court’s decision is the latest twist in a rollercoaster saga that has gripped Japan and the business world since the auto sector titan was arrested […]