India pins growth hopes on rains and low oil price

New Delhi (Bloomberg): India expects economic growth to rebound from a five-year low without sacrificing budget goals, as it pins hopes on political stability to revive demand and investments. Real gross domestic product growth for the fiscal year started April 1 is projected at 7 per cent, the Finance Ministry said in its annual Economic […]

Saudi PMI edges up marginally in June

Dubai: Saudi Arabia’s Purchasing Managers’ Index improved marginally to 57.4 in June, up from 57.3 in May and the highest since November 2017. “The June survey data showed little change from May’s readings, with the headline PMI only marginally higher on the back of slightly faster new work growth. While both output and new work […]

EU leaders choose France’s Lagarde as next ECB chief

LONDON: European markets surged on Wednesday as investors bet that France’s Christine Lagarde would double-down on the European Central Bank’s dovish monetary easing stance as the bank’s next chief. Government borrowing costs in much of the single-currency bloc tumbled to record lows and Eurozone blue chip stocks hit their highest in more than a year […]

Dubai Holding to focus on recurring income gains

Dubai: Dubai Holding, which lists Tecom Group and Jumeirah among its entities, will be focusing on “recurring income business” to attain growth targets through the rest of the year. Other gains will come from delivery of existing projects and “executing prudent operational efficiency”. “We will diligently deliver on our five-year business plan that sets clear […]

Etisalat, du asked to stop pay-per-use data plans

Dubai: Telecom operators in the UAE will have to discontinue their “pay-per-use” data plans – unless the service is explicitly requested by consumers. According to the latest statement from the regulator, the Telecommunication Regulatory Authority (TRA), Etisalat and du have been instructed to discontinue such services with immediate effect. The TRA said it has done […]

UK economy shrinks as Brexit, global worries mount -PMI

LONDON: Britain’s economy appears to have shrunk for the first time since late 2012 between April and June as worries about Brexit were compounded by global trade tensions, a closely watched survey showed on Wednesday. A day after Bank of England Governor Mark Carney warned of the growing risks from a no-deal Brexit and protectionist […]

Emirates to resume flights to Sudan from July 8

DUBAI: Emirates will resume flights from July 8 to and from Sudan, the Dubai-based airline announced on Thursday. The daily service between Dubai and Khartoum is expected to once again enable business and leisure travellers to travel between the countries. Besides, it is also expected to increase global connectivity through the airline’s network, particularly to […]