Washington: The United States on Monday formally named China a currency manipulator, accusing Beijing of weakening the yuan as the two countries’ trade war escalates. The move came has China earlier on Monday allowed its currency to fall to its weakest levels against the dollar in about a decade, prompting irate Twitter outbursts from President […]
National Security Advisor Ajit Doval is in Srinagar to review the security situation.
London: Global stocks fell for a sixth day on Monday as an escalation of trade tensions between the United States and China spooked markets and the yuan fell to its lowest levels in over a decade. Safe-haven assets including the Japanese yen, core government bonds and gold rallied. European shares fell to two-month lows, with […]
The ministry renewed UAE’s firms position against terrorism, regardless of its sources and motives.
Montreal: Canadian manufacturing group Bombardier announced on Monday it had signed a multi-billion dollar agreement to build two automated monorail lines in Egypt’s notoriously congested capital Cairo. The $4.5 billion (Dh16.5 billion) agreement, which was signed with Egypt’s National Authority for Tunnels, is subject to “final signatures of supplementary documents,” Bombadier and its Egyptian partners […]
London: Markets like a good pattern. The current set-up is no exception, and is looking increasingly like 2015: a good first half, a Chinese slowdown, PMIs not picking up, late-cycle signs with central banks set to ease to boost growth. There are a few differences of course, and one of them is the trade war. […]
Abu Dhabi: Brazil would welcome a Brics-like bloc with the Gulf states to work towards achieving common goals, according to a Brazilian Congressman. Brazil is the current chair of the Brics, an informal association of five major emerging economies: Brazil, Russia, India, China and South Africa. We are open to new markets and new opportunities; […]
Dubai: The UAE banking sector holiday on the occasion of Eid Al Adha will be from Saturday, August 10, until Tuesday, August 13, it was announced on Sunday. On August 1, Saudi Arabia’s Supreme Court confirmed that the Dhu Al Hijja moon was sighted and announced that Friday was the first day of the Haj […]
Dubai: Dubai’s Department of Economic Development (DED) issued 362 business licenses to 696 Chinese investors in the first six months of this year, it said. Of those licenses, 58 per cent were for commercial activities, 41 per cent for professional activities, and the remaining were industrial licenses. Female Chinese investors accounted for 35 per cent […]
Abu Dhabi: Concerns about corporate governance have become one of the keys issues keeping investors out of stock markets in the UAE after recent cases of mismanagement, including fraud by Abraaj Group, said Shehab Gargash, the chairman and founder of Dubai-based Daman Investments Psc. “Our clients have come to us and said ‘we need to […]