Mexico in plan to stimulate US border economy

Mexico City: President Andres Manuel Lopez Obrador launched an ambitious plan Saturday to stimulate economic activity on the Mexican side of the US-Mexico border, reinforcing his country’s commitment to manufacturing and trade despite recent US threats to close the border entirely. Mexico will slash income and corporate taxes to 20 per cent from 30 per […]

Trump goes after Pharma on Twitter as companies increase prices

Washington, D.C.: Just as the pharmaceutical industry’s biggest conference of the year is set to get under way, President Donald Trump took to Twitter to complain that drugmakers aren’t “living up to their commitments on pricing.” Despite talk about halting increases and lowering the price on some treatments, pharmaceutical companies on January 1 returned to […]

Kizad launches base for plastic manufacturing

Dubai: Khalifa Industrial Zone Abu Dhabi (Kizad) launched on Sunday a Polymers Park, which is planned to be a manufacturing base for the downstream plastics industry. The Park is expected to attract $1.5 billion in foreign direct investment over the next four to five years. Located in Abu Dhabi, the Park is set to produce […]

Geo-political issues unlikely to affect UAE growth, expert says

Abu Dhabi: Geo-political developments are unlikely to moderate the economic growth of the UAE, a trend in line with IMF projections of growth in the country in 2018 and 2019, a senior official has said. Juma Mohammad Al Kait, assistant under-secretary for Foreign Trade Affairs at the Ministry of Economy said the “positive outlook for […]

Japan mulls action to avoid seizure of steel assets in South Korea

Tokyo: Japan will consider countermeasures to protect Nippon Steel & Sumitomo Metal Corp. assets from seizure in South Korea sought in response to a wartime forced-labour complaint, Prime Minister Shinzo Abe said. It’s “very regrettable that former workers from the Korean Peninsula are taking action for seizing the assets,” Abe told national broadcaster NHK’s “Sunday […]