Etihad Rail DB appointed as ‘shadow operator’ for stage two

Abu Dhabi: Etihad Rail DB, the joint venture company between Etihad Rail, the developer of the UAE’s national railway network and Deutsche Bahn (DB) is set to provide ‘Shadow Operator’ services for Stage Two of the Etihad Rail project. The choice builds on the five years of expertise and Etihad Rail DB’s outstanding success in […]

Tesla raises goal in capital hunt and Musk doubles down

DETROIT. Tesla is increasing the amount of money it will attempt to raise to as much as $2.7 billion. The Palo Alto, California, electric car and solar panel maker said on Friday that it’s increasing the offer due to the response from Thursday’s announcement that it would try to raise $2.3 billion. Also, CEO Elon […]

India’s largest drugmaker honing in on China, to scale up business in less than a year

Sun Pharmaceutical Industries Ltd. is scouting for a partner in China to help it win a larger piece of the world’s second-largest drug market, where the government is on a mission to drive down healthcare costs. With recovery underway in its US business, Sun Pharma’s billionaire founder Dilip Shanghvi is honing in on China and believes […]

Saudi private sector maintains strong growth

Dubai: April saw a strong increase in business activity across Saudi Arabia’s non-oil private sector, with the rate of growth quickening for the fourth month in a row to the fastest since December 2017. Purchasing Managers’ Index (PMI) data for the month showed growth in output remained resilient as employment remains broadly unchanged despite rising […]

Donald Trump threatens to lift China tariffs

Washington: President Donald Trump intensified pressure on China to strike a trade deal in Washington this week by threatening to more than double tariffs on $200 billion (Dh734 billion) of the Asian nation’s sales to the world’s largest economy. In an abrupt shift from the White House after both sides had indicated negotiations were going well, Trump […]

Belt and Road Initiative: Why the UAE is set to benefit

In 2013, China unveiled a Silk Road plan for the 21st century – a strategy that aims to boost trade and productivity between the country and others across East Africa and Europe. The World Bank estimates the strategy, known as the Belt and Road Initiative (BRI) will encompass 30 per cent of the global GDP, […]

UAE PMI at 16-month high in April

Dubai: The UAE’s purchasing managers’ index (PMI) for April rose to 57.6 from 55.7 in March, the highest reading since December 2017. The headline index signals an improvement in business conditions driven by higher output and new work. Output rose by the most in more than four years with nearly 37 per cent of firms […]