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UAE, UK discuss Brexit opportunities
ABU DHABI: Against the backdrop of the current Brexit Negotiations in the United Kingdom, the UAE-UK Business Council continued to review the opportunities that may arise from this. Samir Brikho, Co-Chair of the UAE-UK Business Council, said, “With the ongoing Brexit negotiations, the UK is entering a new chapter in its history and looks forward to an economic future that grows in partnership with friends around the world.
 
 
Moody’s upgrades India’s sovereign rating
New Delhi: In a major boost to economy and investor sentiments, US credit rating agency Moody’s on Friday upgraded India’s sovereign rating to Baa2 from its lowest investment grade of Baa after 14 long years, a development Finance Minister Arun Jaitley said was “an extremely encouraging” global recognition of the structural reforms in the last three years. Maintaining that the upgrading was based on New Delhi’s “wide-ranging
   
US stocks retreat as market ponders tax cut prospects
New York: Wall Street stocks fell early on Friday, pausing after the prior session’s rally as investors tried to suss out the prospects for President Donald Trump’s tax cut plan. The House of Representatives, as expected on Thursday approved its version of the tax reform legislation, while a key Senate panel cleared a different version. However, the path to a majority is considered much tougher in the upper chamber of Congress
 
 
Siemens to cut 6,900 jobs to tackle flailing turbines business
FRANKFURT: Siemens will cut about 6,900 jobs, or close to 2 per cent of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables. Most of the cuts, about 6,100, will be made before 2020 at Siemens’s Power and Gas division, which once thrived on supplying large gas turbines for electricity generation but has been overtaken by the global surge in solar and wind capacity.
   
VW to invest over $40b in cars of the future by 2022
FRANKFURT: German automaker Volkswagen on Friday said it planned to invest more than 34 billion euros ($40 billion) over the next five years in new technologies to advance its push to become a global leader in electric cars. “We are reinventing the car,” chief executive Matthias Mueller said after a meeting of the group’s supervisory board. The bulk of the 2018-2022 spending spree would go on developing electric and hybrid cars,
 
 

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