Dubai: Aramex, the Dubai-listed logistics company, said on Tuesday it will sell its 60 per cent stake in its joint venture with Australia Post for $20 million (Dh73.4 million). The stake in Aramex Global Solutions will be sold back to Australia Post, and comes after approval from Aramex’s board of directors. The company said the […]
Dubai: The UAE’s car dealerships wouldn’t be looking back on 2018 with fond memories — in fact they are on the verge of closing what has been another exceptionally difficult year. The drop in new car sales for the full year is estimated 15-20 per cent, according to industry sources. And that too only because […]
Dubai: The Dubai Economy Tracker (DET) Index recovered from a two-and-a-half year low recorded in October, to 55.3 in November, signalling a strong rebound in private sector economic activity. The recovery was underpinned by a strong performance in the construction sector, although the wholesale & retail trade and the travel & tourism indices also improved […]
Abu Dhabi: Egypt’s central bank wants the World Bank and International Monetary Fund (IMF) to provide technical support to quantify the country’s informal sector, the bank’s deputy governor Gamal Negm said on Wednesday. “We are seeking support to quantify the informal sector and recognise it in the overall size of our GDP,” Negm told a […]
Dubai: Etihad Credit Insurance (ECI) — the UAE Federal export credit company — has inked an Memorandum of Understanding with Arab Investment & Export Credit Guarantee Corporation (Dhaman) to strengthen inter-Arab trade and UAE exports globally. The MoU was signed during the workshop organised jointly by the UAE Ministry of Economy, Dhaman, and UAE International […]
Tokyo: Prosecutors have re-arrested former Nissan boss Carlos Ghosn over fresh allegations of breach of trust, local media said Friday, in the latest twist to a rollercoaster saga. Public broadcaster NHK and local news agency Jiji said Ghosn had been arrested on suspicion of “aggravated breach of trust”, putting into question hopes of a potential […]
Dubai: A rise in protectionism around the world is likely to make the next financial crisis more difficult to both handle and recover from than the Great Recession in 2008, experts said in Dubai on Wednesday. Jack Lew, former United States secretary of treasury, said that governments are now focusing on more domestic matters rather […]
Alphabet Inc’s Google said on Monday that it is investing over $1 billion (Dh3.67 billion) to establish a new campus in New York city, as it expands its presence in the city’s technology corridor along the Hudson River. The new leased campus, which is over 1.7 million square-foot, will be the primary location for Google’s […]
Dubai: Ending several months of speculation, Reserve Bank of India (RBI) governor Urjit Patel on Monday resigned from the post citing personal reasons. “On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India […]
Mohammed Issaq, from Kerala ran away from his employer when they were in Abu Dhabi two weeks ago.