Dubai: Moody’s cut Oman’s credit rating to junk, saying its outlook for the rating was negative and citing fiscal challenges in an environment of moderate oil prices. Oman’s state coffers have been hit hard by a slump in oil prices in recent years, resulting in a wide budget deficit that it has struggled to tame. […]
The world’s two largest economies are nearing the finish line on a trade deal that could be signed by President Donald Trump and his Chinese counterpart Xi Jinping as early as this month. But that doesn’t mean the trade war ends. More work remains on a deal that will ensure that Beijing will follow through […]
Dubai: Saudi Arabia Purchasing Managers’ Index (PMI) rose to a 14-month high of 56.6 in February, up from 56.2 in January. This brought the headline index closer to its long-run average of 57.6 since August 2009. The upturn in business conditions seen in February led by a steep and accelerated increase in new business — […]
BEIJING: China’s foreign ministry said on Wednesday that the country’s customs officials had frequently discovered “hazardous pests” in samples taken recently from Canadian canola imports. The comment, made by official spokesman Lu Kang during a regular press briefing, came after Reuters reported that China had cancelled Canadian agribusiness Richardson International Ltd’s registration to ship canola […]
Paris: France is set to unveil legislation on Wednesday to increase taxes on global internet giants such as Google and Facebook, putting it among a vanguard of countries seeking to force the companies to pay more in the markets where they operate. President Emmanuel Macron came to power in 2017 promising to increase levies on […]
Washington/New Delhi: US President Donald Trump looked set to open a new front in his trade wars on Monday with a plan to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion (Dh20.56 billion) worth of its exports to the United States. India played down the impact, saying it […]
Beijing: China’s slowing car market may spell the end for some of the country’s worst-performing manufacturers, said the head of one of the country’s biggest state-run automakers. The sales decline is set to trigger consolidation among local automakers and the disappearance of certain brands, Beijing Automotive Group Co. Chairman Xu Heyi told reporters at the […]
Dubai: The Global Telco Security Alliance, formed by a collection of telcos that includes Etisalat, said on Wednesday that it would add AT&T, the US telecommunications giant, as an equal member in the group. The alliance was formed in April 2018 by Etisalat, Singtel, SoftBank and Telefónica. Claiming to offer companies information and advice on […]
Total value of all conventional bonds and sukuk on Nasdaq Dubai has now reached $77.78 billion from 99 listings
The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD. Since the organisation last downgraded many of its forecasts in November, little has gone right for the world’s biggest economies. Weakness in the euro area and […]