UK headed for downturn as Brexit worries hammer services

LONDON: Britain’s economy looks likely to shrink over the coming months, after Brexit worries caused the dominant services sector to contract for the first time in nearly three years, a survey showed on Wednesday. The IHS Markit/CIPS Purchasing Managers’ Index (PMI), a survey of services ranging from giant banks to high-street hairdressers, tumbled to 48.9 […]

Farmed salmon to go on sale as UAE ramps up food security plan

Dubai: At the heart of a James Bond-style facility in Jebel Ali lies a key component of the UAE’s food security programme: thousands and thousands of salmon, swimming in circles around enormous tanks. Fish Farm, under the support and direction of Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman […]

Egypt to escalate foreign direct investments to about $20 billion in 2021-2022

Dubai. Egypt ranked first in Africa in terms of foreign direct investment (FDI) flows. Studies indicate that Foreign Direct Investment (FDI) in Egypt has been significantly picking up, with total private investment increasing by 47 per cent. FDI has picked up by 15 per cent. The country aims to increase net FDI to $11 billion […]

Tokyo may press fresh charge on Nissan’s Ghosn on breach of trust

TOKYO: Tokyo prosecutors are considering pressing a fresh charge on former Nissan chief Carlos Ghosn, local media said Wednesday, which would be the latest twist in the auto tycoon’s dramatic downfall. Investigators are eyeing a possible aggravated breach of trust charge related to at least $32 million in Nissan funds transferred to a distributor in […]