Germany narrowly avoids recession with zero growth in fourth quarter

BERLIN: Germany’s economy stalled in the final quarter of last year, just skirting recession as fallout from global trade disputes and Brexit put the brakes on a decade of expansion amid signs that exports will stay subdued for the time being. Gross domestic product in Europe’s biggest economy was unchanged for the quarter, the Federal […]

Dubai retailers revel in Chinese festive period

Dubai: First it was the British. Then it was the Russians. Now, the retailers of Dubai are increasingly keen on wooing Chinese shoppers, a trend best visualised through the widespread decorations put up around the city for Chinese New Year. The push, largely driven by the government as it forges ever closer ties to China, […]

‘So far, so good,’ Mnuchin says of trade talks in China

BEIJING: US Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world’s two largest economies try to iron out an agreement to resolve their trade dispute. “So far, so good,” he said when asked by reporters on how the meetings in Beijing went. He did not say who he met. […]

Ghosn Stands to lose millions in compensation

Paris: The woes keep mounting for Carlos Ghosn. Renault’s board voted unanimously Wednesday to cancel tens of millions of euros in compensation that he was set to receive as its chairman and chief executive, days after the French carmaker notified judicial authorities that he may have misused company money. Also Wednesday, the embattled executive hired […]