Chicago: Boeing Co. is poised to open its first 737 finishing plant in China, underscoring the company’s commitment to the world’s largest aircraft market amid simmering trade tension. The Chicago-based plane maker will inaugurate its completion and delivery centre in Zhoushan, 90 miles southeast of Shanghai, on Saturday, after more than a year of construction. […]
Dubai: Dubai’s DP World is revolutionising the way containers are handled at the ports. The ports operator announced on Monday that it has entered into an international joint venture with engineering specialists SMS group, which will pave the way for the introduction of a “new and intelligent storing system” at Jebel Ali Terminal 4 in […]
The logistics and supply chain industry in the UAE is big business, with many companies vying for a piece of the action. “There are close to 5,000 established companies that operate in the logistics sector across the UAE, ranging from small freight forwarding companies, large conglomerate logistics service providers, through to multinational, fully integrated, global […]
Dubai: The UAE Central Bank has announced it will follow the US in raising interest rates by 25 basis points. Rates will rise effective Thursday, a statement from the UAE Central Bank said. The US central bank raised the benchmark borrowing rate on Wednesday but gave the clearest sign to date that it will go […]
London: In the race to outpace developed economies, emerging countries such as China, India, and Brazil suffered a setback this year and will outgrow them later than previously expected, the Centre for Economics and Business Research (CEBR) said. The CEBR consultancy’s 2019 World Economic League Table was more downbeat on the global economy than last […]
San Francisco: Apple has decided to update iPhones in China to avoid a ban after a court ruling banned the sale and import of most iPhone models after granting Qualcomm an injunction against Apple. According to a report in ‘The New York Times’ on Friday, the Cupertino-based tech giant said it would update the software […]
DUBAI: Dubai World Trade Centre, DWTC, announced on Sunday that it has hosted over 500,000 visitors at more than 29 events in 2018. This indicates an approximate seven per cent increase in visitor numbers for consumer and entertainment events over 2017. Mahir Julfar, Senior Vice President — Venue Services Management, Dubai World Trade Centre said, […]
Brussels: The EU and Italy on Wednesday called a truce in their bitter row over Rome’s disputed 2019 budget, as the populist government accepted to put off signature reforms. In a historic first, in October the European Commission rejected Italy’s big-spending budget, which promised a universal basic income and scrapped pension reform. In Wednesday’s deal, […]
Dubai: Sovereign borrowings by GCC governments are set to surge in 2019, largely driven by higher spending needs in the context of lower oil revenues. “Attending to growing financing needs in a lower oil price environment will drive the GCC states to increasingly diversify their sources of financing, with favourability towards issuers tapping international bond […]
Geneva: The United States and China clashed anew at the World Trade Organisation on Wednesday, accusing each other of undermining the multilateral trading system, according to texts of speeches at closed-door talks seen by Reuters. US Ambassador Dennis Shea also rejected a comment made by the European Union (EU) on Monday that Washington was at […]