Bloomberg The International Monetary Fund (IMF) said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets. On the eve of its annual meetings in Bali, Indonesia, the fund on Tuesday projected a global expansion of 3.7 percent this year ...

DUBAI / WAM Master developer Nakheel awarded a contract worth more than EUR5.6 million (AED23.7 million) ($6.45 million) for piling work at its 260-metre PALM360 luxury hotel and residential project on Dubai’s world-famous Palm Jumeirah. The company has named the Dubai branch of BAUER Spezialtiefbau GmbH, headquartered in Germany, for the work, which will take four months to complete. The ...

LISBON / WAM An official trade mission from the Sharjah Chamber of Commerce and Industry (SCCI) showcased investment opportunities, as well as various opportunities available in the emirate’s economic sectors in Lisbon, Portugal. The Sharjah trade delegation, headed by Abdallah Sultan Al Owais, SCCI Chairman, aimed to enhance economic cooperation and mutual investment between Sharjah and Portugal, under the framework ...