High-tech lab for testing services opens in KIZAD

Abu Dhabi: A high-tech facility at Khalifa Industrial Zone Abu Dhabi, KIZAD, was launched on Tuesday, set out to provide a full suite of quality, conformity and HSE testing services for a wide ranges of sectors. Aman Integrated Solutions Lab was inaugurated by Dr. Thani Bin Ahmad Al Zeyoudi, Minister of Climate Change and Environment, […]

UK economy fails to grow ahead of Brexit-dominated election

London: The UK economy unexpectedly stagnated in October, marking three straight months without growth for the first time since 2009. Gross domestic product was unchanged following two consecutive months of decline, the Office for National Statistics said on Tuesday. Economists had forecast a 0.1 per cent expansion. GDP rose just 0.7 per cent from a […]

Saudi Aramco inches closer to $2 trillion

The world’s most valuable firm Saudi Aramco had a record-setting market debut on Wednesday, edging ever closer to that crucial $2 trillion valuation mark mooted by the Saudi Crown Prince Mohammed bin Salman in 2016. The oil colossus opened 10 per cent higher at 35.2 Saudi riyals ($9.39) on the kingdom’s Tadawul stock exchange, above […]

Indian tycoon Mallya faces bankruptcy over $1.5 billion in debt

Twelve state-owned Indian banks are petitioning for ex-billionaire Vijay Mallya to be declared bankrupt over 1.15 billion pounds ($1.52 billion) in unpaid debts. The banks and an asset restructuring company, led by the State Bank of India, have taken the tycoon to a London court in what lawyers have described as “the end of the […]

Federal Reserve leaves US interest rates unchanged

The Federal Reserve left interest rates unchanged and signaled it would keep them on hold through 2020 amid a solid economy, sticking to the sidelines during an election year. “The committee judges that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation near […]

Damac chairman reiterates call for a halt in new property construction projects

Abu Dhabi: Damac Properties Chairman Hussain Sajwani repeated his calls for a halt to all new property development projects to help alleviate oversupply in the property market and to stabilise prices. Sajwani was speaking on the second day of the SALT Leadership Conference in Abu Dhabi, and said that a halt in new projects for […]

UAE on track to top global competitiveness ranking

Dubai: The UAE is fully geared to achieve number one ranking in the World Bank’s Ease of Doing Business ranking in the year 2021, Abdulla Nasser Lootah, Director General of the Federal Competitiveness and Statistics Authority (FCSA) said on Sunday. In the World Bank’s Ease of Doing Business 2020, published in October this year, the […]