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Belt & Road Initiative to boost opportunities for Islamic Finance
(Gulf News - 31/10/2018)

China’s Belt and Road Initiative (BRI) involving massive investments spanning 65 countries that contribute to 63 per cent of the world’s population and 29 per cent of global GDP is expected to boost the prospects of Islamic finance, according to an

Wall Street drops as initial rally fizzles out
(Gulf News - 30/10/2018)

Wall Street stocks finished decisively lower on Monday after an early rally fizzled and was replaced by selling amid lingering worries over slowing earnings growth and anxiety about US elections.<br/><br/> The reversal came after European equities

UK raises growth forecast for 2019 Brexit year
(The Gulf Today - 30/10/2018)

Britain’s economy will grow 1.6 per cent next year, when the country exits the European Union, finance minister Philip Hammond said on Monday as he delivered his last annual budget before Brexit.<br/><br/> Addressing parliament, the chancellor of the

UK preparing ‘buffers’ for no-deal Brexit: Minister
(The Gulf Today - 29/10/2018)

Britain’s finance minister pledged on Sunday that “fiscal buffers” would be in place to deal with the potential chaos of the country crashing out of the European Union without a deal in March.<br/><br/> Philip Hammond was speaking ahead of his speech in

UK to give small retailers $1.15 billion tax cut
(The Gulf Today - 28/10/2018)

British finance minister Philip Hammond is likely to give a 900 million pound ($1.15 billion) tax cut to small high-street retailers in his annual budget on Monday to help them compete against online competition, the government said late on

Robots to build robots at ABB’s new $150m China plant
(Trade Arabia - 28/10/2018)

Swiss-based engineering group ABB has announced a major, new $150 million investment in Shanghai, China to build the world’s most advanced, automated and flexible robotics factory - a cutting-edge centre where robots make robots.<br/><br/> The new

EU rejects Italy’s proposed budget — European source
(Gulf News - 24/10/2018)

The European Commission has rejected Italy’s proposed 2019 budget and asked for a new plan, a first in European Union history, a European source said on Tuesday.<br/><br/> The Commission, the executive arm of the 28-nation EU, reviews the budgets of the

BMW recalls over 1 million cars over exhaust system fire risk
(Gulf News - 24/10/2018)

German high-end carmaker BMW said Tuesday it would recall more than one million additional diesel cars, citing a problem with the exhaust system that "in extreme cases can cause a fire".<br/><br/> Cooling fluid can leak from a faulty component called the

Italy relief, China stimulus hope lift global stocks
(The Gulf Today - 23/10/2018)

European shares gained on Monday amid relief over Italy’s budget, following rallies in Asia after China promised to provide stimulus to stabilise its economy and offset the impact of US tariffs.<br/><br/> Promises of tax cuts and coordinated official

World Economic Forum issues annual report
(Arab Times - 23/10/2018)

Minister of Social Affairs and Labor and Minister of State for Economic Affairs Hind Al-Sabeeh affirmed that the annual report of the Global Competitiveness Index for 2018 issued by the World Economic Forum showed improvement in six indicators of

Xi vows ‘unwavering’ support for private sector
(Gulf Times - 22/10/2018)

Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector, the latest response from Beijing to concern over the outlook for the economy.<br/><br/> “Any words and practices that negate and weaken the private economy are

P&G reports better than expected quarterly sales
(The Gulf Today - 22/10/2018)

Procter & Gamble Co (P&G) reported better than expected quarterly profit and sales, and said it was raising prices on several products around the world, sending shares up by their most in a decade.<br/><br/> Organic sales jumped 4 per cent, the best

US, EU equities mostly drop as outlook darkens
(The Gulf Today - 18/10/2018)

US stocks followed European stocks down on Wednesday on stubborn worries over global trade and high oil prices, with London the lone major riser after the EU offered to extend Britain’s Brexit transition period.<br/><br/> That sliver of light, and lower

China’s new loans rebound to $199.25b in September
(The Gulf Today - 18/10/2018)

China’s new bank loans rebounded in September after dipping in the two previous months, as policymakers rolled out measures to ensure sufficient liquidity in the financial system amid worries a trade war with the United States could hurt the

Canada tariff exemptions offer auto industry relief
(The Gulf Today - 17/10/2018)

Canada has excluded a long list of steel and some aluminium products from its 25 per cent tariff on US metal, offering short-term relief to the country’s auto sector, which relies heavily on US-made steel.<br/><br/> The exemptions, which reduce vehicle

Stock markets surge as rate tensions ease
(The Gulf Today - 17/10/2018)

Global stock markets rose on Tuesday as tensions in bond markets eased and the US earnings season got off to a promising start, analysts said.<br/><br/> European equity markets benefited from an apparent fading of tensions between Italy and EU over

Annual US budget deficit hits $779b, highest since 2012: US Treasury
(Gulf News - 16/10/2018)

The US budget deficit hit $779 billion (Dh2.8 billion) in the fiscal year ending September 30, the highest since 2012 and $113 billion more than in the prior year, the Treasury announced Monday.<br/><br/> The deficit is equivalent to 3.9 per cent of

European equities defy global slide
(The Gulf Today - 16/10/2018)

Europe’s stock markets mostly defied a downturn in Asia and the United States, with investors remaining in a gloomy mood after several days of market turbulence sparked by trade rows and a spat over the US central bank.<br/><br/> European shares

China CB sees plenty of room for monetary adjustments
(The Gulf Today - 15/10/2018)

China central bank governor Yi Gang said on Sunday he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant.<br/><br/> China

Window to global growth narrowing, says IMF
(The Gulf Today - 14/10/2018)

The window of opportunity for safeguarding global growth is ‘narrowing’ as trade disputes deepen and emerging markets face fiscal crisis, the IMF said Saturday, warning countries against worsening things by weaponising currency and interest-rate

Egypt inflation accelerates, shattering rate cut hopes
(Gulf Times - 11/10/2018)

Egypt’s annual inflation rate accelerated for the third month to an eight-month high, dashing hopes the central bank may cut borrowing costs amid rising oil prices and declining foreign interest in local debt.<br/><br/> Consumer prices rose by 16% in

China’s ultra wealthy buffeted as trade war bites
(The Gulf Today - 11/10/2018)

China’s ultra wealthy saw their ranks thinned this year as the trade war with the US pummelled stocks and shredded billions of dollars of paper wealth, a survey showed Wednesday.<br/><br/> The number of Chinese, or China-based magnates, with a net worth

IMF cuts growth forecasts amid US-China trade tensions
(Trade Arabia - 10/10/2018)

The International Monetary Fund (IMF) cuts its global growth forecasts as trade tensions between the US and trading partners have started to hurt economic activity worldwide, reported CNBC.<br/><br/> The global economy is now expected to grow at 3.7 per

IMF reverses Iran growth, lifts Saudi forecast
(Arab News - 09/10/2018)

The International Monetary Fund on Tuesday predicted Iran’s economy will sink deep in the red due to renewed US sanctions but forecast increased Saudi growth on the back of higher oil production.<br/><br/> In its World Economic Outlook, the IMF said the

China’s FX reserves fall more than expected to $3tr
(The Gulf Today - 09/10/2018)

China’s foreign exchange reserves fell more than expected in September to a 14-month low as the yuan currency weakened further against the dollar amid mounting trade tension with the United States.<br/><br/> Reserves fell $22.69 billion in September to

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