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CB announces new caps on banking fees
ABU DHABI: The UAE Central Bank (CBUAE), has announced that it has published an Amendment to ‘Annexure 2’ of the ‘Regulations Regarding Bank Loans and Services Offered to Individual Customers (2011)’. The amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking consumer related charges for example, home loans and late fees for credit cards.
 
 
Opec sees strong oil market in H2
VIENNA: Global oil demand is set to stay strong in the second half of 2018, an Opec technical panel forecast this week, suggesting the market could absorb extra production from the group. The Organization of the Petroleum Exporting Countries meets on Friday to decide output policy amid calls from major consumers such as the United States and China to cool down oil prices and support the global economy by producing more crude.
   
New economic survey project launched in Sharjah
SHARJAH: The Sharjah Department of Statistics and Community Development (DSCD), has announced the launch of a new economic survey project, which aims to offer a real-time analysis of sector-by-sector growth and transformation in the emirate, highlighting the changing economic milieu and the key factors responsible for Sharjah’s continued growth. The survey will focus on the role and percentage contribution of public and private
 
 
Trade fears slam global stock markets
NEW YORK: Global stock markets tumbled and US bond yields fell on Tuesday while the dollar rose as investors flocked to safety in the face of a rapidly escalating US-China trade conflict. Agricultural commodities were also hammered with soybeans feeling the most pain after US President Donald Trump threatened to impose a 10 per cent tariff on another $200 billion of Chinese goods. China’s commerce ministry described the threat
   
Gold loses lustre on dollar gains, technical selling
LONDON: Gold fell to its lowest in nearly six months on Wednesday as a higher dollar and a technical sell-off overwhelmed safe-haven buying spurred by fears of a trade war between the world’s top two economies. The dollar index, which measures it against a basket of six major currencies, touched its highest since July 2017, as US President Donald Trump threatened to impose a 10 per cent tariff on $200 billion of Chinese goods and
 
 
France growth to slow sharply to 1.7 per cent in 2018
PARIS: France’s economic growth will fall from 2.3 per cent to 1.7 per cent in 2018, the national statistics agency forecasted on Tuesday, adding to the budgetary strains on President Emmanuel Macron’s cost-cutting government. Macron’s administration, which is on a mission to cut spending and keep France within European Union deficit targets, had been targeting growth of 2.0 per cent for 2018. “Growth is solid,” Finance

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1.45%
 
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35,286.74
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401.85
 

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4.8686
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155.00
00.00
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32,342
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4.00

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32.52
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43.39
     
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