Saudi economy to grow slower this year on lower oil prices, production, says IMF

Dubai: The International Monetary Fund on Monday lowered its 2019 economic growth forecast for Saudi Arabia and the region over low oil prices and crude output along with rising geopolitical tensions. In its World Economic Outlook update for January, the global lender lowered its projection for Saudi Arabia’s gross domestic product growth this year to […]

Hamdan launches 4th Industrial Revolution Centre at Davos

Davos: The UAE on Tuesday launched the Emirates Centre for the Fourth Industrial Revolution in cooperation with the World Economic Forum (WEF-Davos). Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai is leading the UAE delegation to the global forum in Switzerland. The 4th Industrial Revolution Centre is the world’s first centre […]

Toyota, Panasonic announce electric car battery tie-up

TOKYO Toyota announced on Tuesday it was creating a joint venture with Panasonic to develop batteries for electric cars, as the Japanese auto giant ramps up its ambitions for electric-powered vehicles. The firm will be set up by 2020 and controlled 51-49 per cent by Toyota, the Prius manufacturer said in a statement. “Toyota and […]