News

Bloomberg The Italian Treasury is set to slash its growth forecast for this year and raise its projected budget deficit, according to two senior officials with knowledge of the draft outlook. The economy will expand by just 0.1 percent this year, according to the draft, which is due for cabinet approval by April 10, the officials said. The government’s previous ...

Bloomberg A Canadian trade tribunal is recommending that Prime Minister Justin Trudeau’s government claw back steel tariffs imposed to contain fallout from Donald Trump’s own levies. In a decision, the Canadian International Trade Tribunal recommended tariff rate quotas on two types of steel — heavy plate and stainless steel wire — among seven that the government had already applied provisional ...

Bloomberg Germany’s painful industrial slump shows little sign of ending, with factory orders plunging the most in a decade in February, led by a drop in exports. The bad news from the Economy Ministry was followed just hours later by new forecasts for 2019 that predicted the weakest growth in six years. The country’s five leading research institutes see expansion ...

DUBAI / Emirates Business The UAE’s non-oil private sector has maintained a solid monthly improvement, according to the latest Purchasing Managers’ Index (PMI) issued by Emirates NBD. The improvement in business conditions reflected sharper increases in output, new orders and stocks of purchases, as well as a return to job creation. These all in some way were linked to anecdotal ...

Dubai / WAM Start-ups and other young companies can provide around 50 percent of all new job prospects in the market at the seed stage and those operating for two and a half years hiring an average of 12 workers. Several reports reveal that start-ups generate significant employment opportunities globally, helping drive immense economic growth prospects. The role of start-ups ...

Bloomberg Boeing Co is cutting production of its 737 jetliner for the first time since the September 11 attacks as the planemaker works to limit financial damage from the global grounding of its newest and best-selling aircraft model. By slashing output 19 percent — to 42 airplanes a month by mid-April — Boeing will be able to reduce its spending ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced the full programme of the third edition of CultureSummit Abu Dhabi, set to run from April 7-11 at Manarat Al Saadiyat in Abu Dhabi. CultureSummit Abu Dhabi is a unique global platform that brings together leaders in arts, heritage, media, museums, and ...

Dubai / WAM A Dubai-based school has partnered with Dubai Cares, raising funds to help build a school in Senegal. The Repton School Dubai successfully raised a total of AED142,000 to further support education programs for underprivileged children in rural Senegal. The initiative, in association with Dubai Cares, is part of the ‘Adopt a School’ programme that focuses on enriching ...

SHARJAH / WAM In the presence of Sheikha Bodour bint Sultan Al Qasimi, Vice President of the International Publishers Association (IPA), and Founder and Chairperson of Kalimat Foundation for Children’s Empowerment (KF), distributed 2,000 books to 11 libraries across Italy. The books belong to a mix of genres including literature, culture, and sciences and are targeted mainly at Arab immigrant ...

RABAT / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, has visited the Spring youth camp, ‘Abnaa’ Al Fakhr’ in Rabat, Morocco. The camp is organised by the Martyrs’ Families’ Affairs Office at the Abu Dhabi Crown Prince’s Court. Children and young individuals aged between 10 and 22 years are partaking in the ...