Dubai Electricity and Water Authority launches 6th annual Sustainability Report

DUBAI. The Dubai Electricity and Water Authority, Dewa, in its 6th annual Sustainability Report, has summarised its efforts to promote social and economic sustainability as well as provide a sustainable model for energy and water. The report focuses on ways to support economic growth without damaging the environment and highlights Dewa’s achievements in sustainability. It […]

Global businesses stick to caution in Hong Kong

Sydney, Hong Kong: As antigovernment protests in Hong Kong intensified, KPMG issued a directive to its employees in the city: Don’t speak on behalf of the company in public. It went on to say that the firm supports China’s policy for governing Hong Kong. PwC, another Big Four accounting giant, sent a similar message to […]

Egypt cuts rates first time in six months after inflation relief

Cairo: Egypt cut interest rates for the first time in six months as slowing inflation and a stable currency allowed the central bank to shrug off the risk of contagion from an emerging-market sell-off. The Monetary Policy Committee reduced its benchmark deposit rate by 150 basis points to 14.25 per cent and its lending rate […]

Rest of Europe is doing just fine

Frankfurt: Activity in the euro area’s private sector unexpectedly picked up, though a meaningful rebound remains out of sight. IHS Markit’s composite Purchasing Managers’ Index (PMI) rose to 51.8 in August, indicating a slightly stronger expansion than in July. While manufacturing returned to growth in France, the outlook for Germany remained bleak, with orders falling the […]