India’s services industry returns to growth in Nov on strong demand-PMI

BENGALURU: India’s dominant services sector bounced back to growth in November, expanding at its fastest pace in four months, driven by a strong pick-up in new business, a private sector survey showed on Wednesday. The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 52.7 last month from 49.2 in October, above the 50-mark separating contraction […]

Trump stuns Wall Street, foreign capitals with new trade fights

President Donald Trump is sending shock waves from Wall Street to Washington and foreign capitals by dialing up his trade war around the world – after spending the past two months retreating from its various fronts. Trump said he may wait until after the 2020 election to strike a trade agreement with China, saying there […]

China to target quarter of vehicle sales to be electric by 2025

BEIJING: China should adopt a plan that will see electric vehicles make up a quarter of all autos sold in the country in six years’ time, the industry ministry said Tuesday, as the sector struggles with falling sales. A draft blueprint for the development of the “new energy vehicle” sector – which includes hybrids and […]

Dubai’s DP World acquires leading marine logistics provider

DUBAI: Unifeeder, a 100 per cent owned subsidiary of DP World PLC, has announced the acquisition of a 77 per cent stake in the Feedertech Group. The deal, which is expected to close in the first quarter of 2020, is the latest step in DP World’s plan to build end-to-end logistics capability to serve the […]

Resilient outlook for the UAE’s banking sector

Despite a slowdown since oil prices collapsed in 2014, banks have fared better compared to other economic sectors. How do you rate the performance of the retail banking sector in the UAE in 2019? The retail banking sector has remained resilient in the UAE. Credit goes to the stable economic and regulatory policies which have […]