China sets stronger-than-expected Yuan fixing in sign of defence

Beijing: China’s central bank moved to shore up the yuan with a stronger-than-expected fixing and a planned bond sale in Hong Kong. The People’s Bank of China set its reference rate at 6.8930 per dollar Tuesday, 0.2 per cent higher than traders’ and analysts’ average forecast of 6.9089. The strong bias in the daily fix […]

China says will respond if US escalates trade tension

BEIJING: China will respond firmly if the United States insists on escalating trade tensions, the foreign ministry said on Tuesday after US President Donald Trump said further tariffs were ready to kick in if no deal was reached at June’s G20 summit. Trump has repeatedly said he is getting ready to meet Chinese President Xi […]

Chinese firms to invest over $4b in UAE logistics sector

Dubai: Chinese companies are set to invest over $4 billion (Dh14.6 billion) in logistics projects in Dubai and Abu Dhabi, according to the president of National Association of Freight and Logistics (NAFL). Projects are being built for the Expo 2020, with a logistics park coming to Jebel Ali and the Expo venue. One will be […]

Bureau of International Expositions reports on Dubai Expo 2020

Paris: The 165th session of the General Assembly of the Bureau of International Expositions was held on May 28, 2019, in Paris, France. Progress reports on the upcoming Dubai EXPO-2020, Buenos Aires EXPO-2023 and Osaka Kansai EXPO-2025 were presented at the meeting. The 165th General Assembly of BIE highlighted the activity of the Shanghai World […]

Dubai sees 7% rise in non-oil trade to Dh339b

Dubai: Non-oil trade in Dubai rose by 7 per cent year-on-year in the first quarter of 2019 to reach Dh339 billion, according to figures from Dubai Customs. Exports registered the most growth, rising 30 per cent to reach Dh42 billion while the value of re-exports increased by 7 per cent to Dh106 billion. The value […]

Google made $4.7b from the news industry in 2018, study says

San Jose: $4,700,000,000. It’s more than the combined ticket sales of the last two ‘Avengers’ movies. It’s more than what virtually any professional sports team is worth. And it’s the amount that Google made from the work of news publishers in 2018 via search and Google News, according to a study by the News Media […]