ROME: Without tougher European Union rules for excessive debt, Italy could put the entire Eurozone at risk, Austrian Chancellor Sebastian Kurz told Italy’s La Stampa newspaper on Monday. Sanctions for debt-laden EU members “will prevent Italy, for example, ending up a second Greece thanks to irresponsible debt policies,” the centre-right leader said. This is the […]
Dubai: Dubai’s Department of Finance (DOF), in collaboration with Smart Dubai and emaratech, has launched a digital wallet to facilitate payments for government service fees. According to a statement, the new payment channel noqodi enables individual and corporate customers to pay “quickly, easily and securely” for different government and non-government fees under Dubai Pay, the […]
China decided to cut the amount of cash some banks must hold as reserves, and timed its announcement of the decision to help shore up domestic markets as uncertainties in the trade talks with the US re-emerged. The required reserve ratio for rural commercial lenders serving companies in the county where the bank operates or […]
HONG KONG: US President Donald Trump’s fresh threats of tariff hikes on Chinese imports this week marked a new escalation in the trade dispute between the world’s top two economies and a reversal of months of apparent progress in negotiations. The trade war formally kicked off in July last year with tariffs on $34 billion […]
Jakarta: Indonesia’s economy expanded more slowly than expected in the first quarter of this year, as investment dropped ahead of elections and campaign spending failed to sustain growth momentum. South-east Asia’s largest economy grew 5.07 per cent in January-March from a year earlier, the slowest pace in a year, data from the statistics bureau showed […]
Dubai: Confidence among business owners in the UAE hit a new high, while conditions posted their sharpest improvement in more than a year last month, suggesting stronger growth in the local economy, new data released on Sunday showed. However, while optimism levels are high, employers are still reluctant to expand their payrolls or recruit new staff, leading an […]
She says the Congress is a spent force and the Mahagatbandhan (alliance) is doomed.
London: The top-secret leak that Britain had conditionally allowed China’s Huawei to develop its 5G network, which brought down the defence minister, does not amount to a criminal offence, police concluded Saturday. Prime Minister Theresa May on Wednesday sacked Gavin Williamson as defence secretary over the leak last month of the bitterly-disputed decision made at […]
Hong Kong: Hong Kong stocks tumbled in the first few minutes of trade Monday after Donald Trump warned he would hike tariffs on hundreds of billions of dollars’ worth of Chinese goods at the end of the week. The Hang Seng Index plunged 2.43 per cent, or 730.82 points, to 29,350.73. The benchmark Shanghai Composite […]
By Vinayak Mahtani, Special to Gulf News Tourism has changed from being a service industry offering you a flight, a room and some food to offering experiences. It is now more about rejuvenation, adventure, fulfilment, learning new skills and “being more of who you are” than just ticking off places and things and flopping down […]