Dubai: Such is the attention to detail of Armenian businessman Nver M. Mkhitaryan, that during the construction of his new hotel on the Palm, he went 200 metres underground to hand-pick marble in Portugal — not once, but twice. The Emerald Palace Kempinski is a testament to this precision, and at a cost of over […]
Beijing: China and the United States discussed a road map for the next stage of their trade talks on Tuesday, during a telephone call between Vice-Premier Liu He and US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. US President Donald Trump and Chinese President Xi Jinping agreed at a December 1 meeting in […]
Beijing: China will remove the punitive duty on automobiles imported from the US for three months in an effort to defuse trade tensions with the world’s biggest economy. China will remove the 25 per cent tariff it had imposed in a tit-for-tat measure, the finance ministry in Beijing said in a statement Friday. Earlier this […]
Shanghai: Prominent thought leaders from around the world came together in Shanghai, China for a conversation about future cities and the transformative power of World Expos at Expo 2020 Dubai’s second international World Majlis session, which was hosted at the World Expo Museum (WEM). The latest World Majlis session, titled ‘The Future of Cities: World […]
Dubai: One of the most underreported stories of this year has been the Dubai stock market’s slow bleed. The emirate’s main stock index is down 25 per cent so far this year, and ranks as the worst performing market in the world in 2018. On today’s podcast we ask why? To help answer this question […]
Dubai: Business conditions in Dubai have bounced back, with companies adding new jobs and getting busier than in the previous months, according to the latest analysis. The Emirates NBD’s latest seasonally adjusted Dubai Economy Tracker Index indicated that firms in the non-oil private sector improved strongly in November after a slump a month earlier. Businesses […]
Dubai: Are you seeing another dental clinic or cosmetic surgery service provider open up in your neighbourhood? And you start thinking there are already way too many? Then you are not the only one. “In primary health care, there are many communities and catchment areas that are oversupplied,” said Dr. Ibtesam Al Bastaki, Director of […]
Frankfurt: The European Central Bank (ECB) decided on Thursday to end its lavish asset purchase scheme but otherwise kept policy broadly unchanged, promising protracted stimulus for an economy struggling with an unexpected slowdown and political turmoil. Having long flagged the end of quantitative easing, the ECB had little choice but to stop the bond buys. […]
Abu Dhabi: Emirates Steel, the largest steel producer in the UAE, has refinanced $650 million (Dh2.38 billion) of debt with a new loan and sukuk (Islamic bond), sources close to the transaction told Reuters. The company owned by Abu Dhabi’s Senaat, a state-owned investor in the emirate’s industrial sector, raised $1.3 billion in credit facilities […]
London: After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories. American-based oil refiners have been told to expect much lower shipments from the kingdom in January than in recent months […]