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
Dubai has risen in the ranks of the Global Financial Centres Index, GFCI, to the eighth position, representing its highest ever-ranking.
The GCC States are keen to develop the joint cooperative system among them through a number of vital and strategic projects and plan to achieve economic integration among member states.
Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, now offers direct flights between Sharjah and Vienna. The non-stop six-hour flight to Vienna, will operate four times a week, on Sundays, Wednesdays, Fridays and Saturdays,