Lebanon needs new government, radical change of direction, says IMF

Dubai: Lebanon cannot pull itself out of its economic crisis without a new government to transform the country and launch long-stalled reforms, a senior official at the International Monetary Fund said. The country defaulted on its debt last year, sending its currency crashing. Its economy shrank by 25% in 2020, the IMF said in a […]

UAE cable giant Ducab winds in 36% profit gain for 2020

Dubai: Demand from projects in the UAE ensured the cables and metals manufacturer Ducab Group did not have to cut down on production at any point during 2020. This in turn helped full-year profits to rise 36 per cent for the group, which is equal-owned by Dubai and Abu Dhabi government entities. (Actual breakdown of […]