Saudi Arabia’s net foreign assets fall most in over two years

Riyadh: Saudi Arabia’s net foreign assets fell 1.8 per cent in July, the biggest monthly drop in more than two years, potentially an effect of the government boosting spending. Net foreign assets held by the Saudi Arabian Monetary Authority declined by about $9 billion last month to $498 billion, the largest fall since February 2017, […]

India growth slows to 5% in fresh blow to Prime Minister Narendra Modi

MUMBAI India’s economic growth slowed for the fifth straight quarter in the April-to-June period to 5.0 per cent, government figures showed Friday in a fresh blow to Prime Minister Narendra Modi. The expansion in Asia’s third-largest economy was also the slowest in five years, on the back of weak consumer demand and a liquidity crunch. […]

Brexit cuts UK productivity and spending, Bank of England says

London. The UK’s planned departure from the European Union has cut the nation’s productivity by between 2 per cent and 5 per cent since the 2016 referendum, according to a report published by the Bank of England. Senior managers at British companies are spending several hours a week planning for Brexit, researchers including Nicholas Bloom […]

Dubai is leading the 4th Industrial Revolution with UAE’s first micro-factories

Manufacturing in Dubai is advancing with digital transformation set to add US$ 44.6 billion to its economy by 2030. Additionally, the UAE’s first tech-focused micro factories are being built in Dubai boosting design and manufacturing across aerospace, manufacturing, maritime, fabricated metals, medical equipment, machinery and FMCG, which opens significant opportunities for investors.