China, US had ‘constructive’ phone call on trade — Xinhua

BEIJING: China and United States had “constructive talks” on trade in a high-level phone call on Saturday, state media Xinhua said. China’s Vice Premier Liu He, US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin were on the call. The two sides discussed each other’s core issues for the first phase of an initial […]

S&P downgrades Lebanon’s credit rating

New York: S&P Global Ratings said on Friday that it lowered Lebanon’s long-term and short-term foreign and local currency sovereign credit ratings to ‘CCC/C’ from ‘B-/B’, citing rising financial and monetary risks. The outlook on Lebanon is negative, S&P said, specifying that it reflects the risk to Lebanon’s creditworthiness from rising financial and monetary pressures […]

The African continent now at your fingertips

Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced the launch of a new website that delivers key insights into the burgeoning markets of Africa. Titled Africa Gateway, the online portal acts as a rich knowledge resource designed to equip users with essential information on the most promising countries in the continent to do […]

Transforming Africa’s economic landscape

Africa has always been an important market for the Gulf, dating back to the origins of the Silk Road trade route between East and West. Asian merchants would travel to Europe via the Arabian peninsula then East Africa, helping to cement relations between the neighbouring regions. Global hub Geographic proximity has meant Dubai remains an […]

Aramco share price range: 30-32 Saudi riyals

Dubai: Saudi Aramco has set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion that the Saudi crown prince had previously targeted, making it potentially the world’s biggest IPO. Aramco said on Sunday it plans to sell 1.5% of its shares […]

A bruising year for stocks is ending in almost unheard of peace

New York An investor probably would’ve panicked if you told her at the start of 2018 that the trade war wouldn’t go away. Or that earnings would fall flat and that a bid to kick out the president would erupt. Fast forward 11 months and nobody seems to care. Volatility in the equity market is […]