Pound rebounds as Johnson suffers major Brexit vote defeat

New York: The British pound hit multi-year lows against the dollar on Tuesday amid fears of a no-deal Brexit but rebounded as Prime Minister Boris Johnson lost a crucial parliamentary vote on his Brexit strategy. “For all the uncertainty that lies ahead, markets see a Boris Johnson led no-deal Brexit as the worst-case scenario and […]

S&P: Dubai economy to grow by 2.4% in 2019, supported by Expo 202

Dubai: S&P Global, the United States-based financial information and analytics company, said it expects Dubai’s gross domestic product growth to pick up, averaging about 2.5 per cent annually over 2019-2022. The increase will come from increased economic activity associated with Expo 2020 and, after that, by traditional growth engines such as trade and transportation. The […]

Aramco set to finalise bank selections as soon as this week

Riyadh: Saudi Aramco aims to select underwriters for its initial public offering as soon as this week, as the state energy giant accelerates preparations for the world’s biggest share sale, people with knowledge of the matter said. Global investment banks are finishing up a week of pitches that started last Tuesday in Dhahran, the eastern […]