US sees China trade pushback as Trump touts progress

Washington Some US negotiators are concerned that China is pushing back against American demands in trade talks, according to people familiar with the negotiations, even as President Donald Trump sounded optimistic about reaching a deal that could boost his reelection chances. Chinese officials have shifted their stance because after agreeing to changes to their intellectual […]

UAE’s pearls, precious stones, metals trade hits Dh8.2b in 2018

Abu Dhabi: Abu Dhabi’s trade in pearls and precious stones and metals touched Dh8.2 billion in 2018, compared to Dh7.84 billion in 2017, representing a growth of 5 per cent. According to Abu Dhabi Statistics Centre, pearl trading has seen a significant growth over the past year, especially in exports. The UAE is among the […]

General Mills lifts profit view on cost cuts, price hikes; shares rise 6%

New York General Mills quarterly profit beat Wall Street estimates and the Cheerios cereal maker raised its full-year forecast, benefiting from its efforts to cut costs and raise prices, sending its shares up 6 per cent on Wednesday. Consumer goods companies like General Mills have been raising product prices to make up for rising commodities […]

FedEx falls on 2019 forecast cut, multiple brokerages lower price target

New York Shares of FedEx Corp fell about 7 per cent before the bell on Wednesday after the package delivery company cut its 2019 profit forecast for the second time blaming slowing global trade growth and continued weakness in its international Express business. The profit warning and weak quarterly results have resulted in a slew […]

Digitalisation to be in focus at World Energy Congress

Dubai: The hydrogen economy, digitalisation, and decarbonisation will all be discussed during the upcoming 24th World Energy Congress in Abu Dhabi. The event, which will take place in early September, will bring together executives from the global energy ecosystem, including government and industry leaders, investors, innovators, young professionals, and students among others. Suhail Al Mazrouei, […]