Indian rupee weakened against US dollar in choppy weekly trade

Mumbai: In a choppy week’s trade, the Indian currency weakened against the US dollar to close above the 71 a dollar mark on Friday, owing to a sharp rise in crude oil prices, turmoil in the equity markets and uncertainty around the US-China trade relations. In what could translate into further trouble for the domestic […]

Wellness, sustainability lead the way at Gulfood

Dubai: The most striking thing about Gulfood 2019 is just how deceptively ordinary every product seems to look. Water, yoghurt, coffee, pastries, and ice cream are mundane enough. But take a closer look at the labels, and you’ll see these are vitamin-enriched water, lactose-free yoghurt, nitro coffee, and gluten-free pastries. The nuances of everyday products […]

UAE signs defence deals worth Dh4.97b on the first day of Idex

Abu Dhabi: UAE Armed Forces signed deals worth Dh4.97 billion with various international and local companies to purchase arms and other equipment to boost the country’s defence capabilities, organisers announced on the first day of the International Defence Exhibition that kicked off on Sunday. American, Russian as well as European companies won some of the […]

Singapore plans cautious budget

Singapore: Singapore Finance Minister Heng Swee Keat will aim to strike a delicate balance in Monday’s budget: preaching fiscal prudence while doling out more social spending ahead of elections that could come as early as this year. While not expected to be as headline-grabbing as last year — when Heng flagged a hike in the […]

Tax capital gains to tap big fortunes: Gates

Seattle Bill Gates is concerned about the high budget deficits being run by the US, and said if taxes are ultimately increased to make up the shortfall, then it’s appropriate for wealthy people to pay much higher taxes. “We only collect about 20 per cent of GDP and we spend like 24 per cent of […]

Dh19.7 billion defence deals eyed at Idex this week

Abu Dhabi: International Defence Exhibition (Idex) 2019 is set to kick off in Abu Dhabi on Sunday amid growing spending by Gulf countries in the defence sector to meet security challenges. Hundreds of defence companies will be taking part in the five-day event that will be held at Abu Dhabi National Exhibition Centre. The number […]

Ind Inc promoters forced to draw loans by pledging their holdings

Mumbai: The stress in corporate India seems to be more deep seated than what is coming out from earnings numbers. A large number of India Inc promoters has been forced to draw loans by pledging their holdings in the company and keep their entities afloat. The top of the list is the Adani Group where […]