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ABU DHABI / WAM The meeting between the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud of Saudi Arabia, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, which took place in the Mina Palace in Makkah, highlighted the special ties between ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited several infrastructure projects related to the Expo 2020 Dubai, which will begin in October 2020, with the participation of 195 countries. His Highness Sheikh Mohammed bin Rashid visited the Expo 2020 Office in Dubai South, accompanied ...

Bloomberg US President Donald Trump decried what he called China’s “massive” intervention to suppress the yuan, portraying the US as the beneficiary of his tariffs on Chinese imports and suggesting — despite recent evidence to the contrary — that prices aren’t rising. “Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of ...

DUBAI / Emirates Business Despite a sustained correction in prices across nearly all communities in Dubai, developers are completing construction and handing over projects with speed, according to the ‘Property Finder Trends’ report for H1 2019. According to data in ‘Trends’ report, a total of 20,978 residential units completed in the first half of 2019. The total comprised 14,999 apartments, ...

Bloomberg China’s two largest companies have lost a combined $140 billion in market value since the escalation of the trade war in May. As Alibaba Group Holding Ltd. and Tencent Holdings Ltd. report earnings this week back-to-back, they’ll try to show the punishment is overdone. The brutal market selloff began three months ago as Donald Trump’s administration slapped restrictions on ...

Bloomberg Singapore’s government cut its forecast for economic growth this year to almost zero as the escalating US-China trade war dampens the region’s most trade-reliant economies. Singapore’s economy now is seen growing 0.0%-1.0% this year, down from a previous projection of 1.5%-2.5%, the Ministry of Trade and Industry said on Tuesday, with growth expected to come in near the midpoint ...

Bloomberg Russia said it’s far ahead of the US in developing new nuclear-powered missiles despite a failed test that prompted President Donald Trump to boast of American superiority in the field. President Vladimir Putin “has repeatedly said that Russian developments in this area surpass the level achieved by other countries, and are quite unique,” Kremlin spokesman Dmitry Peskov told reporters ...

Bloomberg Nearly three decades after the fall of the Berlin Wall, Germany is moving to eliminate the so-called solidarity tax that helped finance reunification. The 5.5% tax that was levied on all but low-income earners is to be abolished from 2021 for 90% of those currently paying it, Finance Minister Olaf Scholz said in Berlin. In 2018 the levy generated ...

Bloomberg Serbia will invest billions of euros in new homes, energy, transportation and digital infrastructure, President Aleksandar Vucic said on Sunday, as the government seeks to boost economic growth prospects. “We are in position to easily ensure at least 10 or even 12 billion euros ($13.4 billion) of funding for new investments,” the president said at a news conference in ...

Bloomberg When two UK power plants shut down almost simultaneously in London’s first major blackout for a decade, it triggered a storm of questions about how to avoid another failure. As National Grid Plc, the regulator Ofgem and plant operators investigate what happened, last week’s failure underlined the need to bolster an electricity grid increasingly fed by intermittent flows from ...