Millionaire Mohan Jashanmal on being successful in the UAE

Armed with a smile, his trademark dish-dash gear and a handful of toffees, Mohan Jashanmal Jhangiani, shareholder of Jashanmal Group of Companies and patriarch of the Indian community, greets us with charm and flamboyance all intact. Many of you already know him as the witty, friendly charismatic businessman who has won the hearts of not just the Indian […]

UAE consumer price index fell by 2.39 per cent in January

Dubai. Consumer prices in the United Arab Emirates fell 2.39 per cent in January, according to government data, when compared to a year earlier. Consumer prices also fell 0.12 per cent from December, the data released by the Federal Competitiveness and Statistics Authority showed. Economists have said prices would ease in 2019 in both Saudi […]

India needs land, labour reform to aid manufacturing

NEW DELHI: India’s next government will have to bring in land, labour and financial sector reforms to improve the productivity of the manufacturing sector and boost economic growth, India’s chief economic adviser said. “These are the critical areas we need to work on,” Krishnamurthy Subramanian said in an interview. Several business leaders said a delay […]

Turkish annual inflation falls below 20 per cent in February

ANKARA. Annual Turkish consumer price inflation fell to 19.67 per cent in February, official data showed on Monday, dropping below 20 per cent for the first time since August as food price inflation eased following a government price-cutting campaign. Economists said the decline was not sufficient to prompt an immediate interest rate cut by the […]

Made in the UAE

Your Excellency, Senaat is the largest conglomerate in the UAE. How is ‘Made in UAE’ boosting innovation and investment quotient in local manufacturing? As demand for locally manufactured products increases, it will undoubtedly create a need to further strengthen the supply base, especially in heavy industries, through strategic investments and an innovative approach. There are […]

China plans $90b cut in VAT for manufacturers

Beijing. China is planning to cut the value-added tax rate that covers the manufacturing sector by 3 percentage points as part of measures to support the slowing economy, a person familiar with the matter said. The reduction in the highest of the nation’s three VAT brackets could be announced as soon as this week, when […]

Dubai to expedite government payments to SMEs, cut insurance costs to fuel growth in economy

Dubai plans to expedite government payments to small and medium-sized companies in an effort to revive economic growth in the Middle East’s trade and business hub. The government will pay SMEs within 30 days instead of 90 days, according to the state-run WAM news agency. The measure is expected to result in 1.6 billion dirhams […]

Eli Lilly to introduce cheaper insulin amid pressure on prices

New York. Eli Lilly & Co. is introducing a new version of insulin at half the cost as drugmakers grapple with growing political criticism over the price of the life-saving treatment for diabetes. Lilly said Monday it will start selling a lower-price version of its Humalog for $137.35 a vial. “While this change is a […]