Uncategorized

Euro-area economy pace bodes well for prices, jobs

  Bloomberg The euro area’s accelerating economy is translating into faster job creation and stronger inflation pressures. A key gauge of activity rose to a near six-year high in March, and employment increased the most since July 2007, with hiring picking up both in services and manufacturing. The jump in the headline IHS Markit Purchasing Managers Index compared with economists’ ...

Read More »

Gargash highlights UAE’s counter-terrorism steps

  WASHINGTON / WAM The UAE appreciates the United States administration’s clear policy against extremism and terrorism, and its understanding of relevant regional consequences, said Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs. ”The war against terrorism requires concerted, united and focussed efforts and co-operation from both countries and civilised communities,” Dr. Gargash said in an intervention during ...

Read More »

Sharjah leads to Moscow to promote tourism industry

  Sharjah / WAM The Sharjah Commerce and Tourism Development Authority (SCTDA) headed to Moscow from Berlin to continue promoting international travel to the emirate. The Authority is heading a delegation, which includes key representatives from Sharjah tourism and travel players, to Moscow International Trade and Tourism, MITT, Russia’s leading and largest travel exhibition and one of the five largest exhibitions ...

Read More »

Abu Dhabi all set to launch Mother of the Nation Festival

  ABU DHABI / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) announced that preparations for Mother of the Nation Festival are in their final stages. The Festival will open its doors from 4pm until midnight on Sunday March 26 and run daily until April 4 on Abu Dhabi Corniche. The Festival will offer four diverse activity zones ...

Read More »

Myanmar luxury property reels from foreign-buyer confusion

  Bloomberg Confusion over a law allowing foreigners to buy condominiums in Myanmar is prolonging a slowdown in its residential property sector, highlighting the challenges of regulatory flux in the frontier market. The legislation adopted in January 2016 leaves unanswered questions such as whether it applies to existing apartments, hurting efforts to woo investors. The outlook now depends partly on ...

Read More »

Top India paper maker’s debt crisis deepens as imports rise

  Bloomberg Creditors of India’s largest paper maker Ballarpur Industries Ltd. may face costly unintended consequences from punitive US duties on some of the company’s Asian competitors. Ballarpur invested heavily in recent years to modernize its production facilities, and now may not be able to avoid defaulting on its debts, Fitch Ratings Ltd. said. The imposition by the US of ...

Read More »

US probes banking of ex-Trump campaign chief

  WASHINGTON / AP US Treasury Department agents have recently obtained information about offshore financial transactions involving President Donald Trump’s former campaign chairman, Paul Manafort, as part of a federal anti-corruption probe into his work in Eastern Europe, The Associated Press has learned. Information about Manafort’s transactions was turned over earlier this year to US agents working in the Treasury ...

Read More »

Daewoo Shipbuilding to get second lifeline from creditors

  Bloomberg Daewoo Shipbuilding & Marine Engineering Co. could receive another lifeline from lenders as the world’s biggest shipbuilder needs cash to complete work on pending orders to stay afloat. Korea Development Bank and Export-Import Bank of Korea will provide 2.9 trillion won ($2.6 billion) in additional loans and swap about 1.6 trillion won of debt to equity, Korea Development ...

Read More »

Vietnam among leaders of Asia’s infrastructure race

  Bloomberg It may be one of the smallest economies in Asia, but Vietnam is among those leading the infrastructure race. Vietnam’s public and private sector infrastructure investment averaged 5.7 percent of gross domestic product in recent years, the highest in Southeast Asia and compares with 6.8 percent in China, according to the Asian Development Bank. Indonesia and the Philippines ...

Read More »
Send this to a friend