DUBAI / WAM The smart city concept has the potential to boost the economic development of global cities by over five percent and deliver at least $20 trillion in additional economic benefits by 2026, reveals a a report titled “Role of Smart Cities for Economic Development.” The numbers were released as discussions on the economic impact of smart cities have …

Bloomberg The market power of corporations is rising across rich economies and could eat into economic growth if the trend intensifies, the International Monetary Fund (IMF) said. Corporate market power increased moderately between 2000 and 2015, with price markups increasing by 8 percent, the IMF said in an analysis accompanying its latest World Economic Outlook. The increase was concentrated outside …

Bloomberg Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the US-China trade impasse lifted financial markets. Brent crude’s rapid recovery this year — with the biggest quarterly gain in almost a decade — is a victory for the production cuts made by Opec …