China Seeks Talks With India to Push Asia Trade Pact, Sources Say

Beijing: China has sought talks with India to allay concerns on a regional free trade pact it is spearheading, two people familiar with the matter said, as Beijing seeks newer markets amid the ongoing trade war with the US. The 16-country Regional Comprehensive Economic Agreement has been in the works for a while and China […]

Sudan seeks foreign help to salve economy as protests rage

Sudan’s central bank governor said the country is seeking funding from unidentified nations to ease its economic crisis, as protests continue against President Omar Al Bashir’s three-decade rule. Mohammad Khair Al Zubair mentioned possible foreign funding during a Tuesday press conference, outlining a three-month plan to boost revenue, bring in hard currency and print more […]

Custom duties transferred by UAE to GCC at Dh1b in 2018

Dubai The Federal Customs Authority said that the total value of custom duties transferred by the UAE to GCC countries reached around Dh1 billion in 2018. The transfers were through the Automated Transfer Customs Duty system launched in October 2015 as part of the GCC Customs Union. During the last year, the duties transferred were […]

US-China trade war takes toll on global manufacturing

London, Hong Kong: Factory activity weakened across much of Europe and Asia in December as the US-led trade war and a slowdown in demand hit production in many economies, offering little reason for optimism as the new year begins. A series of purchasing managers’ indexes for December released on Wednesday mostly showed declines or slowdowns […]

Morgan Stanley bankers tap cash spigot to extend IPO dominance

New York: Morgan Stanley just beat JPMorgan Chase & Co. and Goldman Sachs Group Inc. for a second straight year in one of Wall Street’s most competitive businesses — and it’s poised to win again in 2019. Its secret: Quirky dealmakers wielding a spigot of private money. The bank is the world’s top stock underwriter, […]