Injunction win for Amazon in Pentagon contract fight

Washington: A US judge on Thursday granted Amazon’s request to temporarily halt the US Department of Defence and Microsoft Corp from moving forward on an up-to-$10 billion (Dh 36.7 billion) cloud computing deal that Amazon says reflected undue influence by President Donald Trump. Amazon, which had been seen as a front-runner to win the contract, filed […]

Love economy booms as Valentine’s Day spend zooms

Dubai: A new study of card transactions from over 53 countries around the world has revealed that the ‘love economy’ is growing five times as fast as the global economy with Valentine’s Day spend up 17 per cent since 2017. Romantics across the world are spending more than ever before, with overall transactions in the […]

UAE, Saudi to lead pick-up in non-oil economic activity

Dubai: The UAE and Saudi Arabia will lead the gradual pick-up in GDP growth led by non-oil economic activity, according to Economics team at the Abu Dhabi Commercial Bank (ADCB). ADCB economists see aggregate real non-oil GDP growth strengthening to 2.6 per cent in 2020, up from an estimated 2.1 per cent in 2019 and […]

Never mind the Internet. Here’s what’s killing malls

New York: Despite a strong consumer economy, physical retailers closed more than 9,000 stores in 2019 – more than the total in 2018, which surpassed the record of 2017. Already this year, retailers have announced over 1,200 more intended closings, including 125 Macy’s stores. Some people call what has happened to the shopping landscape “the […]