India’s recovery remains fragile despite economy reopening

Mumbai: An improvement in India’s exports and business activity in June signaled the worst may be over for the economy, but the rebound probably wasn’t strong enough to prevent the biggest quarterly contraction on record. Four of the eight high-frequency indicators compiled by Bloomberg News gained last month, two were unchanged and the rest deteriorated. […]

Twenty finalists named for Dubai’s ‘global prosperity’ challenge

Dubai: The 20 finalists have been named for The Mohammed bin Rashid Initiative for Global Prosperity challenge, who will now compete for the $1 million prize. Before that, they will need to present their ideas through virtual pitches from August 31. The Global Maker Challenge award will be announced September 6. The finalists were selected […]

Amazon CEO Jeff Bezo’s ex-wife donates $1.7 billion for social causes

Washington: MacKenzie Scott, former wife of Amazon CEO Jeff Bezos, announced on Tuesday (local time) that she has donated around $1.7 billion (Dh62 billion) to groups involved in philanthropic causes such as healthcare, LGBT rights and racial justice. Scott, who said she changed her surname after her divorce from Bezos last year, wrote in a post shared […]

Dollar’s grip on global markets ‘might be over’: Goldman warns

Goldman Sachs Group Inc. put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency. With Congress closing in on another round of fiscal stimulus to shore up the pandemic-ravaged economy, and […]