Dubai: The UAE Central Bank has announced it will follow the US in raising interest rates by 25 basis points. Rates will rise effective Thursday, a statement from the UAE Central Bank said. The US central bank raised the benchmark borrowing rate on Wednesday but gave the clearest sign to date that it will go […]
London: In the race to outpace developed economies, emerging countries such as China, India, and Brazil suffered a setback this year and will outgrow them later than previously expected, the Centre for Economics and Business Research (CEBR) said. The CEBR consultancy’s 2019 World Economic League Table was more downbeat on the global economy than last […]
San Francisco: Apple has decided to update iPhones in China to avoid a ban after a court ruling banned the sale and import of most iPhone models after granting Qualcomm an injunction against Apple. According to a report in ‘The New York Times’ on Friday, the Cupertino-based tech giant said it would update the software […]
DUBAI: Dubai World Trade Centre, DWTC, announced on Sunday that it has hosted over 500,000 visitors at more than 29 events in 2018. This indicates an approximate seven per cent increase in visitor numbers for consumer and entertainment events over 2017. Mahir Julfar, Senior Vice President — Venue Services Management, Dubai World Trade Centre said, […]
Brussels: The EU and Italy on Wednesday called a truce in their bitter row over Rome’s disputed 2019 budget, as the populist government accepted to put off signature reforms. In a historic first, in October the European Commission rejected Italy’s big-spending budget, which promised a universal basic income and scrapped pension reform. In Wednesday’s deal, […]
Dubai: Sovereign borrowings by GCC governments are set to surge in 2019, largely driven by higher spending needs in the context of lower oil revenues. “Attending to growing financing needs in a lower oil price environment will drive the GCC states to increasingly diversify their sources of financing, with favourability towards issuers tapping international bond […]
Geneva: The United States and China clashed anew at the World Trade Organisation on Wednesday, accusing each other of undermining the multilateral trading system, according to texts of speeches at closed-door talks seen by Reuters. US Ambassador Dennis Shea also rejected a comment made by the European Union (EU) on Monday that Washington was at […]
Oil in London fell below $50 (Dh183.6) a barrel for the first time since July 2017, as broader financial market turmoil and worries over US supply countered signals from the Opec+ coalition that it may extend or deepen output cuts. Futures fell as much as 1.1 per cent, after Monday’s 6.2 per cent drop. Russian […]
The Department of Economic Development (DED) announced the release of the ‘Dubai Economic Report 2018’ on Saturday. The report reviews the major macro- and sectoral level economic developments and growth in the emirate during 2017. It aims to be a reference for public and private sector decision-making as well as for developing policies and strategies […]
Dubai: Work has commenced on one of the world’s largest installations of smart building technologies for the Expo 2020 in Dubai, it has been announced. In a move that supports Dubai’s smart city initiative, Siemens will digitally connect more than 130 structures at the site through digital solutions that boost energy efficiency, comfort, safety and […]