News

  Bloomberg Egyptian Finance Minister Amr El-Garhy said he expects surging inflation to peak by the end of the first quarter as the price shocks following an increase in fuel prices and the pound’s flotation fade. El-Garhy said policy makers expected prices to jump after currency controls were abandoned in November to help Egypt clinch a $12 billion International Monetary ...

  Reuters Iraq, OPEC’s second-largest producer, plans to cut crude exports from its southern port of Basra to 3.013 million barrels per day (bpd) in March, a loading programme obtained by Reuters on Monday showed. The March volume is 628,000 bpd less than what was planned for February and the lowest since the August programme, adding to signs that Baghdad ...

  Bloomberg The election of Donald Trump in the US and the UK’s decision to leave the European Union are heightening economic risk in the euro area, the European Commission said, as it predicted growth would slow this year. In its first set of economic forecasts compiled since Trump’s victory and with the British government gearing up to officially trigger ...

  Bloomberg Toyota Motor Corp. recently ceded its title as the world’s best-selling automaker to arch-rival Volkswagen AG. Yet the Japanese company’s biggest adversary this year may be US President Donald Trump. Japan’s largest automaker expects profit to fall to 1.7 trillion yen ($15.1 billion) for the fiscal year ending next month, about a quarter less than the previous annual ...

  Bloomberg The Swiss government must come up with a new plan and figure out how to limit economic fallout after voters rejected its bid to reform corporate taxation to keep the country internationally competitive. Because Switzerland needs to end its current practice of giving thousands of multinationals tax breaks, the government will have to concoct a Plan B to ...

  DUBAI / WAM Dubai Wholesale City, a member of the TECOM Group, has hosted an Innovation in Trade forum at its headquarters in Dubai Studio City. The event attracted experts to discuss latest advances and trends in the wholesale trading sector and identify the steps necessary to shape a smart city platform in line with the Dubai Government smart ...

  DUBAI / WAM According to the UNCTAD World Investment Report 2016, Foreign Direct Investment (FDI) inflows to developing eco- nomies reached a new high of $765 billion in 2015, 9% higher than previous years. Focusing on FDI capacity, The Annual Investment Meeting, which will be held in Dubai from April 2-4 at the Dubai World Trade Centre, will be ...

  Dubai / WAM A number of Arab Ministers of Finance, governors of central banks, presidents of financial institutions, and senior officials and experts from regional and international financial organisations are attending the second Arab Fiscal Forum, which opened in Dubai yesterday. This year’s forum is being held under the theme, Revenue diversification: outlook and challenges. The event provides a platform ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) is participating in the 5th World Government Summit, which is held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. DEWA is the Sustainable Energy Partner of the World Government Summit, where it is highlighting ...

Dubai / WAM The world’s education system is in urgent need of major reform as it is based on antiquated models of learning, and therefore cannot satisfy the high aspirations and creative potential of newer generations, argued Dr. Scott Barry Kaufman, Scientific Director of the Imagination Institute in the Positive Psychology Center at the University of Pennsylvania, United States. Making his ...