DUBAI: The number of small and medium sized businesses receiving assistance in Dubai from the government agency, Dubai SME, has nearly doubled year-on-year, according to new figures released this week. The first half of 2019 has seen 2055 SMEs receive support – that is an 83 percent increase on the same time in 2018 when the…
DUBAI: The number of small and medium sized businesses receiving assistance in Dubai from the government agency, Dubai SME, has nearly doubled year-on-year, according to new figures released this week. The first half of 2019 has seen 2055 SMEs receive support – that is an 83 percent increase on the same time in 2018 when the…
LONDON: Facebook’s planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces skepticism among the wider cryptocurrency community as well.One theme — besides Brexit — dominated discussion among the movers and shakers from London’s financial technology or FinTech industry as gathered for their annual get-together: the future of…
NEW DELHI: Walmart told the US government privately in January that India’s new investment rules for e-commerce were regressive and had the potential to hurt trade ties, a company document seen by Reuters showed.The lobbying effort yielded no result at the time — India implemented the new rules from Feb. 1 — but the document…
NEW DELHI: Walmart told the US government privately in January that India’s new investment rules for e-commerce were regressive and had the potential to hurt trade ties, a company document seen by Reuters showed.The lobbying effort yielded no result at the time — India implemented the new rules from Feb. 1 — but the document…
NEW DELHI: Walmart told the US government privately in January that India’s new investment rules for e-commerce were regressive and had the potential to hurt trade ties, a company document seen by Reuters showed.The lobbying effort yielded no result at the time — India implemented the new rules from Feb. 1 — but the document…
FRANKFURT AM MAIN: German auto giant Daimler, maker of Mercedes-Benz, on Friday slashed its 2019 profit forecast for the second time in a few weeks, after booking a $1.8 billion (€1.6 billion) operating loss in the second quarter.By comparison, between April and June last year, the Stuttgart-based group chalked up operating profit of €2.6 billion.But…
FRANKFURT AM MAIN: German auto giant Daimler, maker of Mercedes-Benz, on Friday slashed its 2019 profit forecast for the second time in a few weeks, after booking a $1.8 billion (€1.6 billion) operating loss in the second quarter.By comparison, between April and June last year, the Stuttgart-based group chalked up operating profit of €2.6 billion.But…
SHENZHEN, China: The chairman of Huawei said Friday the Chinese tech giant has yet to see any benefit from President Donald Trump’s promise to allow US companies to sell some components to the company and called on Washington to remove it from a security blacklist.The “unjust and unfair” decision to add Huawei Technologies, the biggest…
LONDON: Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.Brent crude futures reversed early losses and were up 40 cents at $67.41 a barrel by 0852…
LONDON: Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.Brent crude futures reversed early losses and were up 40 cents at $67.41 a barrel by 0852…
LONDON: OPEC on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies.Giving its first 2020 forecasts in a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 29.27 million barrels…
CAIRO: Egypt’s annual urban consumer price inflation fell sharply to 9.4% in June from 14.1% in May, official statistics agency CAPMAS said on Wednesday, a significantly bigger drop than analysts had expected.Analysts said the deceleration was partly due to last year’s high base effect and lower vegetable prices, which are often a key contributor to…
CAIRO: Egypt’s annual urban consumer price inflation fell sharply to 9.4% in June from 14.1% in May, official statistics agency CAPMAS said on Wednesday, a significantly bigger drop than analysts had expected.Analysts said the deceleration was partly due to last year’s high base effect and lower vegetable prices, which are often a key contributor to…
CAIRO: Egypt’s annual urban consumer price inflation fell sharply to 9.4% in June from 14.1% in May, official statistics agency CAPMAS said on Wednesday, a significantly bigger drop than analysts had expected.Analysts said the deceleration was partly due to last year’s high base effect and lower vegetable prices, which are often a key contributor to…
DUBAI: The UAE has struck a deal with a consortium of companies including Saudi Arabia's ACWA Power to build a $900 million desalination plant. The facility will be located in the northern emirate of Umm Al-Quwain to meet the growing demand for water in the region. The UAE's Federal Electricity and Water Authority (FEWA) agreed…
DUBAI: The UAE has struck a deal with a consortium of companies including Saudi Arabia's ACWA Power to build a $900 million desalination plant. The facility will be located in the northern emirate of Umm Al-Quwain to meet the growing demand for water in the region. The UAE's Federal Electricity and Water Authority (FEWA) agreed…
RIYADH: Saudi Arabia’s oil company Aramco has awarded $18 billion in contracts to expand oil and gas capacity at two of its fields, with Saudi companies being granted half of the awarded contracts. Aramco said in a statement on Tuesday it had awarded 34 contracts for engineering, procurement and construction at the Majran and Berri offshore…
TEHRAN: Iran’s oil minister has accused the United States of using sanctions to “shock” the global oil supply and gain market clout for its booming shale oil production. Washington abandoned a landmark 2015 nuclear deal between Tehran and world powers last year and reimposed sanctions on the Islamic republic’s crucial oil sales as well as…
TEHRAN: Iran’s oil minister has accused the United States of using sanctions to “shock” the global oil supply and gain market clout for its booming shale oil production. Washington abandoned a landmark 2015 nuclear deal between Tehran and world powers last year and reimposed sanctions on the Islamic republic’s crucial oil sales as well as…
