Dubai rents: How tenants are negotiating hard and grabbing good deals

It is all good news for tenants in Dubai. Unanimously, residents we spoke to in the emirate are looking forward to price drops, higher negotiation powers with landlords and better, easier payment options. They said rents have been consistently on a decline. Even premium locales like Dubai Marina and Downtown Dubai are experiencing rental drops. As a […]

Volkswagen postpones decision on $1.4billion Turkey car plant

Ankara: Volkswagen AG’s management board has decided to delay a decision on giving the go-ahead on a 1.3 billion-euro ($1.4 billion) car plant due to the political upheaval caused by the country’s military action in northern Syria. The German carmaker had established a Turkish unit in the western city of Manisa early October, paving the […]

GCC economies slow down in tandem with global trend

Dubai: GCC economies are projected to slow down in 2019 in tandem with slower growth forecasts for most global economies according to the latest World Economic Outlook (WEO) report from the International Monetary Fund (IMF). Growth in the Middle East and Central Asia region is expected to be 0.9 per cent in 2019, 0.4 percentage […]

Is the world economy sliding into first recession since 2009?

The global economy is wobbling and whether it topples over is the big question in financial markets, executive suites and the corridors of power. Investors cheered Friday as the U.S. struck a partial trade agreement with China and there were even signs the U.K. may strike a divorce deal with the European Union. But the […]

Pound rallies on Brexit deal hopes

Hong Kong: The pound rallied on Tuesday after the European Union’s top Brexit negotiator flagged the possibility of a divorce deal this week, reviving hopes Britain could avoid crashing out of the bloc. With the exit deadline on October 31, Michel Barnier’s comments reinforced hopes for an eventual agreement between the two sides and came […]

China’s factory prices post steepest fall in 3 years

Beijing: China’s factory gate prices declined at their fastest pace in more than three years in September, reinforcing the case for Beijing to unveil further stimulus as manufacturing cools on weak demand and US trade pressures. The producer price index (PPI), considered a key barometer of corporate profitability, dropped 1.2 per cent year-on-year in September, […]