India’s February unemployment rate climbed to 7.2%

New Delhi: The unemployment rate in India rose to 7.2 per cent in February 2019, the highest since September 2016, and up from 5.9 per cent in February 2018, according to data compiled by the Centre for Monitoring Indian Economy (CMIE) that was released on Tuesday. The unemployment rate has climbed despite a fall in […]

Debenhams plunges after it scraps forecasts

Debenhams Plc fell as the UK department store chain scrapped its profit guidance after saying talks with creditors will be more disruptive than expected. It was the fourth profit warning since early 2018 for Debenhams, which stuck to plans to shut about 50 stores as it seeks a more comprehensive restructuring after securing a temporary […]

Trump scraps trade privilege for India

Washington/New Delhi: US President Donald Trump looked set to open a new front in his trade wars on Monday with a plan to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion (Dh20.56 billion) worth of its exports to the United States. India played down the impact, saying it […]

Deadline set for federal entities’ draft budget submissions in UAE

Dubai: Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, issued financial circular No (10) for 2019 on the preparation of the draft general budget of the federation for the 2020 fiscal year. According to a statement on WAM, this year is the fourth of the five-year plan for 2017-2021, […]