US economic data releases this week fell short of consensus expectations and markets have been lowering their expectations of a Federal Reserve hike. That means there will be even more attention on the employment report for July, which will be released Friday. What is most needed—for Main Street, for Wall Street and for an orderly normalization of Fed policy—is a …

Britain and France announced last month the death of the internal combustion engine, both scheduling it for 2040. Their ban on gas- and diesel-powered cars may only accelerate a process already well on its way, but it will help reduce the future effects of climate change and pollution now. The trend towards electric vehicles is coming from both government and …

Oil producers who for years tracked top OPEC member Saudi Arabia to help set the price of their crude could now be looking to go solo. With $100 oil a distant memory and US crude eating into their share of prized markets, they are seeking new ways to assess if their supply may be worth more—a prospect that’ll help prop …

It’s hard to be a Canadian auto-parts bull when US car sales are falling, Nafta negotiations are about to start and the loonie is rising, but there are reasons for investors to hold their nerve. No subsector of the S&P/TSX Composite Index has generated more consistent outperformance when bond yields are rising, according to Matt Barasch, Canadian equity strategist at …

Once upon a time, the battle for the crown of world’s biggest automaker was a one-horse race. Since overtaking Ford Motor Co.’s sales in 1931—not that long after the last Model T rolled off the production line—General Motors Co. was the undisputed global market leader for the best part of eight decades. In 2008, Toyota Motor Corp. pulled ahead, before …

DUBAI / Reuters Saudi Arabia’s stock market edged up on the back of modest gains in the banking sector on Sunday while Egypt imitated world markets’ strong finish at the end of last week. Most other Middle Eastern bourses fell. The Riyadh index added 0.1 percent, remaining near a six-week low, as Samba Financial Group jumped 3.4 percent after its …

ABU DHABI / WAM A report by the Industrial Development Bureau (IDB) has revealed that 16 industrial facilities entered production in the Emirate of Abu Dhabi during the first half of 2017, an increase of 100 percent compared to the same period last year, with a total investment value of over AED3.8 billion. The biannual report of the Abu Dhabi …

Dubai / WAM Dubai Electricity and Water Authority (DEWA) awarded contracts to design, manufacture, test and supply 1,570 cast resin distribution transformers, with capacities of 11/0.4kV, and 1,000 and 1,500 kVA equipped with low-voltage smart meters, to a number of leading specialist international institutions. This is part of DEWA’s ongoing efforts to meet various requirements to expand the electricity distribution …

ABU DHABI / WAM The Abu Dhabi Judicial Department has opened a court and prosecution for cases related to the tourism sector at the Abu Dhabi International Airport as part of the department’s strategy to deliver high-quality judicial services and cope with the evolving tourism sector in the emirate. Yousef Saeed Al Abry, Under-Secretary of the Department, who inaugurated the …

Dubai / Emirates Business As the halal movement gains traction, the global industry sets its sights on India’s growing demand for Shariah-compliant goods, particularly cosmetics. Home to the world’s second-largest Muslim population next to Indonesia, India does have one of the world’s most viable halal markets. The personal care sector alone has registered promising sales numbers in recent years. Of …