A worker cleans machine parts at a factory in Goeppingen, Germany. Associated Press
For three decades, China’s burgeoning demand for German cars, machines and engineering tools has been a steady engine of growth for Europe’s largest economy,
German exports to China fell by 6.5 per cent on the year in January and the Federal Statistics Office said the drop could not yet be linked to the coronavirus, as the looming impact of the epidemic threatens to tip Europe’s largest economy into recession.
German business sentiment deteriorated more than expected in August to hit its lowest since November 2012, a survey showed on Monday, in a further sign that escalating trade disputes are pushing Europe’s largest economy toward a recession.
Sterling crashed to a record low early on Monday as traders rushed for the exits on mounting concern that the new government’s economic plan will stretch Britain’s finances to the limit.
Arada has announced the launch of Arada Central Business District (CBD), a new commercial centre for Sharjah, which will be located at the heart of Aljada community.
Adnoc Drilling Company announced it has signed a Sale and Purchase Agreement (SPA) to acquire two additional premium offshore jack-up drilling units.