News

  AP The International Monetary Fund has warned of weak growth prospects in Central Asia and the Caucasus and called for active reforms to energize the post-Soviet economies. In a report, the 189-nation IMF forecast economic growth in the region in 2016 at just 1.3 percent, the lowest estimate since 1998. The slowdown is mostly due to low commodity prices ...

  Bloomberg India’s quest to become a cashless economy has been dealt a blow by a data breach that compromised as many as 3.2 million debit cards. Prime Minister Narendra Modi urged Indians in a radio address in May to use cashless payments to discourage corruption and keep track of money. Convincing them may get harder after India’s national card ...

  Bloomberg  After a decade of unrivaled expansion, Australia’s largest gas-pipeline owner is facing growing pains. Complaints from industrial gas users, frustrated by supply shortages and hefty price spikes following the start of Queensland’s liquefied natural gas export plants, sparked a regulatory review last year aimed at boosting competition in the eastern seaboard market. APA Group Ltd. is now looming ...

  AP  India’s capital, laboring under the label of being the world’s most polluted city, is trying something new to help clean up its air. A smartphone application that allows residents to report the presence of construction dust or the burning of leaves and garbage in New Delhi’s public parks to authorities was launched on Friday. The “Hawa Badlo,” or ...

  Bloomberg European Parliament President Martin Schulz said he’s optimistic he can salvage a trade deal between Europe and Canada after talks broke down on Friday amid opposition from the Belgian region of Wallonia. Schulz met Canada’s International Trade Minister Chrystia Freeland in Brussels on Saturday and had separate talks with Wallonia’s Minister-President Paul Magnette. Negotiations to rescue the Comprehensive ...

  Bloomberg General Electric Co. may not grow this year as low oil prices, a strong dollar and a sluggish economy crimp demand for oilfield equipment and locomotive parts, a setback for Chief Executive Officer Jeffrey Immelt as he pursues a sharpened focus on manufacturing. The stock fell after GE cut its outlook for organic sales growth, projecting the figure ...

  Bloomberg In Germany, fretting about inflation is a political currency that never seems to lose its value. In the past week, for example, at least three national newspapers have run prominent articles telling the populace that their savings — denied the magic of compound interest by the European Central Bank’s low-rate policies — are in for a renewed onslaught ...

  Bloomberg Canada’s listing export sector took another blow as talks to seal a trade deal with the European Union broke down, adding to questions about what will drive the economy forward. The country is already facing three straight years of growth below 2 percent, the weakest stretch since at least the 1960s. Business spending is still hurting from the ...

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO) on Thursday signed a joint venture agreement for a long-term partnership and cooperation for the UAE’s peaceful nuclear energy programme. KEPCO, the prime contractor for the Barakah Nuclear Energy Plant currently under construction in the Western Region of Abu Dhabi, has been ...

  DUBAI / EMIRATES BUSINEES Etisalat, through its newly established Etisalat Digital, signed a memorandum of understanding (MOU) with Accenture at the Gitex Technology Week 2016, to collaborate in the digital solutions arena to enable ICT and digital transformation in the region. The two parties will work together combining Etisalat Digital’s technology platforms and solutions with Accenture’s business knowledge, solutions ...