Washington: US officials on Monday accused China of backtracking on commitments in trade negotiations and confirmed tariffs on $200 billion (Dh734.5 billion) in Chinese goods will be increased to 25 per cent this week, according to US media reports. US Trade Representative Robert Lighthizer said talks with China will resume Thursday but that Beijing was […]
Ikea opened a new city-centre concept store in Paris on Monday as the Swedish furniture giant tries a new strategy for winning over urban consumers that will be rolled out internationally this year. The Paris outlet at Place Madeleine, a short walk from the bottom of the Champs-Elysees avenue, is four times smaller than Ikea’s […]
Kuala Lumpur: Former Goldman Sachs Group Inc banker Roger Ng has been extradited from Malaysia to the US to face charges linked to 1MDB, The Edge newspaper reported. Ng left for the US on Friday and is now under the watch of the US Justice Department, the Kuala Lumpur-based newspaper said, citing a person familiar […]
ROME: Without tougher European Union rules for excessive debt, Italy could put the entire Eurozone at risk, Austrian Chancellor Sebastian Kurz told Italy’s La Stampa newspaper on Monday. Sanctions for debt-laden EU members “will prevent Italy, for example, ending up a second Greece thanks to irresponsible debt policies,” the centre-right leader said. This is the […]
Dubai: Dubai’s Department of Finance (DOF), in collaboration with Smart Dubai and emaratech, has launched a digital wallet to facilitate payments for government service fees. According to a statement, the new payment channel noqodi enables individual and corporate customers to pay “quickly, easily and securely” for different government and non-government fees under Dubai Pay, the […]
China decided to cut the amount of cash some banks must hold as reserves, and timed its announcement of the decision to help shore up domestic markets as uncertainties in the trade talks with the US re-emerged. The required reserve ratio for rural commercial lenders serving companies in the county where the bank operates or […]
HONG KONG: US President Donald Trump’s fresh threats of tariff hikes on Chinese imports this week marked a new escalation in the trade dispute between the world’s top two economies and a reversal of months of apparent progress in negotiations. The trade war formally kicked off in July last year with tariffs on $34 billion […]
Jakarta: Indonesia’s economy expanded more slowly than expected in the first quarter of this year, as investment dropped ahead of elections and campaign spending failed to sustain growth momentum. South-east Asia’s largest economy grew 5.07 per cent in January-March from a year earlier, the slowest pace in a year, data from the statistics bureau showed […]
Dubai: Confidence among business owners in the UAE hit a new high, while conditions posted their sharpest improvement in more than a year last month, suggesting stronger growth in the local economy, new data released on Sunday showed. However, while optimism levels are high, employers are still reluctant to expand their payrolls or recruit new staff, leading an […]
She says the Congress is a spent force and the Mahagatbandhan (alliance) is doomed.