People walk near a real estate project in Beijing. Reuters
General Motors (GM) and Ford Motor announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the US automakers were hit by a slowing economy amid the Sino-US trade war.
Growth in China’s new home prices cooled in June as sales shrank for a second month, but building starts and investment quickened, providing a cushion for the slowing economy while Beijing claims some wins in reducing market froth.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
New home prices in China grew slightly faster in March after growth slowed the previous month, putting a floor under the cooling market, as Beijing rolled out stimulus to boost the economy. The housing sector’s solid growth could cushion the impact of a vigorous multi-year government crackdown
Opec’s Secretary General said on Wednesday a trade deal between the United States and China would boost the global economy and would help lift a “dark cloud” over the oil market.
The Abu Dhabi National Oil Company (Adnoc) announced its In-Country Value (ICV) Programme has driven more than Dhs26 billion ($7 billion) back into the UAE economy in 2019,
Major automakers think US President Donald Trump will again this week push back a self-imposed deadline on whether to put up to 25% tariffs on national security grounds