A container ship is docked at a port in Qingdao in eastern China’s Shandong province. Associated Press
China’s factory activity shrank more than expected in June, an official manufacturing survey showed, highlighting the need for more economic stimulus as US tariffs and weaker domestic demand ramped up pressure on new orders for goods.
The White House said on Friday that President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan.
China on Saturday increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei.
Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. The pandemic will cost the global economy as much as $4.1 trillion, or nearly 5% of all economic activity,
The Etihad Rail Board of Directors held a remote meeting chaired by Sheikh Theyab Bin Mohamed Bin Zayed Al Nahyan, Member of the Executive Council, and Chief of Abu Dhabi Crown Prince’s Court.
Authorities in the UAE have initiated several measures to slow the rate of infections and work on containment of contagion. In a series of initiatives the Dubai Economy Department (DED) has launched a series of campaigns to raise awareness and educate businesses and individuals on the best practices they need to adhere to.