Shinzo Abe (right) and Toshimitsu Motegi during a parliament session in Tokyo. Agence France-Presse
A gauge of global equity markets rose to a new high on Friday as US consumer spending in July suggested a strong economic rebound lies ahead, while the Japanese yen surged on safe-haven buying after Prime Minister Shinzo Abe resigned for health reasons.
Japan is to impose a state of emergency in Tokyo and six other prefectures as early as Tuesday to contain the coronavirus, while the government prepares a $990 billion stimulus package to soften the economic blow.
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.
Japan’s government is considering downgrading its assessment of the economy next week as the intensifying Sino-US trade war takes a toll on exports and factory output, a government source with direct knowledge of the matter told Reuters. A downgrade in the crucial monthly report could fuel speculation
The UAE’s public spending in the first quarter of 2022 totalled Dhs87.4 billion, an increase of 19.6 per cent and equivalent to Dhs14.34 billion, compared to Dhs73.7 billion
Adnoc Distribution reported strong first half results for 2022, recording an EBITDA of Dhs1.99 billion and net profits of Dhs1.56 billion. Adnoc Distribution witnessed year-on-year growth
Dubai’s property market has registered strong growth recently as the emirate ranked 4th globally for prime residential capital value growth in H1 2022, according to a report.