Investments to UAE expected to rise by 20% in 2019

DUBAI The UAE Government’s new foreign direct investment, FDI, law passed in 2018 could accelerate FDI flows by up to 20 per cent this year, from the eight per cent average growth rate, as per the recent estimates of the Ministry of Economy. The landmark law is predicted to further strengthen the already business-friendly climate […]

Gulf’s banking sector will drive M&A sweepstakes

Dubai: The banking sector would dominate mergers and acquisitions (M&A) in the Gulf, and in turn control a sizeable chunk of stock market activity, according to executives at JP Morgan. M&A deals in the Gulf has touched $100 billion in the year to date, led by Saudi Armaco’s acquisition of Sabic for $69 billion. The […]

UK house prices drop in March as market remains volatile

London. UK house prices dropped in March after a stunning gain the previous month, mortgage lender Halifax said, extending an erratic run for its property index. The 1.6 per cent drop followed a 6 per cent jump in February and a 3 per cent plunge in January. On a three-month basis, prices were up 3.2 […]

BMW, Daimler, VW broke antitrust rules: EU ‘preliminary view’

BRUSSELS The European Union warned German car giants BMW, Daimler and Volkswagen on Friday that a preliminary inquiry has concluded they colluded to avoid competing on emission control technology. “As a result, European consumers may have been denied the opportunity to buy cars with the best available technology. The three manufacturers now have an opportunity […]

Italy cabinet approves new package of measures to spur growth

Milan. Italy’s cabinet approved a series of measures to boost the economy, even as the Treasury prepares to slash growth forecasts for the year and raise its projected budget deficit. The so-called Growth Decree contains incentives including measures to encourage a restart of private investment as well as actions to safeguard the “Made in Italy” […]