Fed signals a year of patience as growth slows

Washington: Federal Reserve officials signalled on Wednesday they’re prepared to move interest rates higher or lower as needed, but an unusual mix of risks means they could remain on hold all year. Despite an economy that is forecast to grow above trend with low unemployment, policymakers are worried about external drags such as slowing European […]

UAE government adopts dynamic model of AI governance, ethics

Dubai. The UAE government has adopted an integrated and dynamic model for the utilisation of artificial intelligence that supports industry growth, development of new sectors as well as strengthening governance and ethics frameworks, according to Omar Bin Sultan Al Olama, Minister of State for Artificial Intelligence. This is in order to anticipate future challenges and […]

IHG states confident in Dubai as it opens new hotels

Dubai: The CEO of hotel group IHG’s Middle East business has said that he is satisfied with the growth drivers in the Dubai hospitality market. Kenneth Macpherson, IHG’s chief executive officer for Europe, Middle East, Asia and Africa, said that he believed the fundamentals were in place to counteract a market slowdown that has impacted […]

Sleep Expo: $28 billion revolution in rest hits Dubai

Dubai: What kind of value would you put on a third of your life? That’s the question that a number of companies are looking to pose over the next three days, as the first Sleep Expo Middle East gets underway in Dubai on Thursday. “We’re trying to solve the problem of sleeping,” said Taher Patrawala, […]

NBF launches investment management business

Dubai: National Bank of Fujairah (NBF) has launched Investment Management business to provide mass affluent priority banking, high-networth and institutional investors with high quality, independently-researched and risk-based investment solutions. The bank will use more than 30 best-in-class international fund managers to build the model portfolio. NBF investment solutions provide investors with a one-stop service through […]

VW to explore buying stake in Chinese Partner JAC

Frankfurt: Volkswagen AG is weighing taking a significant stake in its Chinese electric-vehicle partner Anhui Jianghuai Automobile Group Corp. after rules on ownership were eased last year, people familiar with the situation said. The world’s biggest automaker mandated Goldman Sachs Group Inc. to advise on the potential transaction, said the people, who asked not to […]