Turkey’s jumbo rate cut secures uneasy truce for Erdogan, market

Istanbul: Turkey’s new central banker is striking a balance that could keep both the presidency and markets at bay. Sent on a headlong mission to lower interest rates by President Recep Tayyip Erdogan, Governor Murat Uysal followed up on his record cut in July with another bold step on Thursday. While bringing easing under his […]

Abu Dhabi to set up commercial court

ABU DHABI: Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of the Abu Dhabi Judicial Department, has issued a decision to establish a specialised court dealing with commercial law cases, under the name ‘Abu Dhabi Commercial Court’. The move comes as a bid to enhance the emirate’s commercial […]

Solid US retail sales ease economic growth concerns

WASHINGTON: US retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth. The report from the Commerce Department on Friday could further allay financial market concerns of a recession, which have been fuelled by a year-long trade war between the United […]