UK growth be sluggish for the next few years even if a Brexit deal is secured, according to the National Institute of Economic and Social Research. In a report Wednesday, the think tank lowered its estimate for growth this year to 1.5 per cent from 1.9 per cent, and said output will pick up only […]
Berlin: Daimler AG is preparing a “comprehensive” cost-cutting program to secure profitability as the German automaker fights through a US-China trade spat, slowing demand in Europe and North America and surging expenses to develop electric vehicles. The Mercedes-Benz manufacturer is stepping up efforts to shore up margins and counter pressures that are unlikely to blow […]
Abu Dhabi: Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession. The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at Dh5 billion ($1.36 billion) […]
JAKART: Indonesia, Southeast Asia’s largest economy, posted slightly faster than forecast growth in the October-December quarter and its full-year 2018 expansion was the best in five years, supported by steady household spending. Gross domestic product (GDP) in the final quarter of 2018 expanded 5.18 per cent from a year earlier, compared with 5.11 per cent […]
Tesla Inc. is cutting the price of its Model 3 sedan for the second time this year, this time citing the end of a customer-referral program that was a more costly incentive than the company realized. All versions of the Model 3 will cost $1,100 less, lowering the starting price of the car to $42,900. […]
Total number of restaurants and cafes in Dubai reached 11,813 at the end of 2018, according to new report
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of More…
Top Swiss side FC Basel on Wednesday bought a 26 percent stake in Chennai City, becoming the first foreign side to buy More…
Tokyo: Japanese car giant Toyota slashed its full-year net profit forecast Wednesday after saying its nine-month figure had tumbled nearly 30 per cent as it was hit by investment losses. The firm’s senior managing officer Masayoshi Shirayanagi also told reporters there was no way to avoid a negative impact in the event of a no-deal […]
DUBAI: Bahrain-listed Investcorp posted a rise in first-half profit on Tuesday helped by higher fee income and said it had boosted its capital and liquidity position in the wake of challenging global markets. The private equity and alternative investment firm, best known outside the Middle East for listing luxury goods brands Gucci and Tiffany & […]