Hotel guests in Abu Dhabi reached 1.2 million visitors in second quarter of 2019

Abu Dhabi: Abu Dhabi’s hotels have posted a year-on-year growth in the second quarter of 2019, with hotel guest numbers reaching a record 1.2 million for the April to June period representing a 6.8 per cent increase from the same period in 2018. The latest report from the Department of Culture and Tourism — Abu […]

India rupee takes a steep tumble

The Indian rupee slid the most since December as uncertainty over a potential announcement on the troubled Jammu and Kashmir state added to a yuan-driven sell-off. The rupee fell as much as 1.4 per cent against the dollar, the most since December 11, before paring the loses to 1.2 per cent or 70.4650 to the dollar at […]

Indonesia Q2 GDP growth edges down to weakest in two years

Jakarta: Indonesia’s economic growth rate remained around 5 per cent in the second quarter and was the weakest in two years, highlighting the difficulties it faces accelerating GDP expansion amid global uncertainties. Southeast Asia’s largest economy grew 5.05 per cent in April-June, a touch cooler than January-March’s 5.07 per cent, the statistics bureau said on […]

Dollar intervention risk rises as yuan slump stokes FX war bets

New York: The risk of US intervention to rein in the dollar is rising as a tumbling Chinese yuan stokes speculation that a global currency war is getting underway. Speculation is building that US President Donald Trump may seek to weaken the dollar after China allowed the yuan to drop below the key level of […]