China’s factory, retail sectors shine as trade tensions thaw

BEIJING: Growth in China’s industrial and retail sectors beat expectations in November, as government support propped up demand in the world’s second-largest economy and amid easing trade hostilities with Washington. The set of upbeat figures released on Monday follow firm signs of progress in Sino-US trade negotiations over the weekend after the world’s two largest […]

Abu Dhabi looks to data analytics to transform its tourism industry

Abu Dhabi: Data analytics will be a key driver for Abu Dhabi’s tourism industry in the years to come as the emirate looks to compete globally as a top tourist destination, said Saif Saeed Ghobash, undersecretary of the Department of Culture and Tourism — Abu Dhabi (DCT Abu Dhabi). Ghobash was speaking at the first-ever […]

Turkey’s wealth fund to take over insurance, pension firms

ISTANBUL: Turkey’s sovereign wealth fund will take over insurance and pension companies owned by state lenders and consolidate them in an effort to increase their global competitive power, it said on Friday. The Turkish Wealth Fund (TVF) said it expected to complete the plan in the first quarter of next year and that the move […]

Weidmann says Germany does not need a stimulus package

BERLIN: Germany does not need an economic stimulus package and its ‘black zero’ balanced budget policy is useful for achieving sound finances but should not become a fetish, the head of the national central bank told the Sueddeutsche Zeitung. “As a political budgetary objective, the black zero fulfils the pedagogical purpose of ensuring sound finances. […]

China’s State Grid nears Oman electricity deal

London: State Grid Corp. of China is nearing an agreement to acquire a 49% stake in Oman’s state-owned transmission company in the first major privatization by the Middle East’s largest non-OPEC oil producer, people with knowledge of the matter said. , the people said, asking not to be identified as the matter is private. Talks […]