Vendors arrange fruits at their stall in Tokyo. Agence France-Presse
Japan’s economy contracted slightly in the first quarter as corporate and consumer spending weakened, a Reuters poll showed on Friday. Exports also deteriorated amid trade disputes and weaker global demand, hurting the trade-reliant economy. Gross domestic product (GDP) is expected to have fallen 0.2% in January-March on an annualised basis,
South Korea’s consumer inflation faltered to its slowest on record in August while second quarter economic growth was revised down on weaker exports, firming up the case for central bank rate cuts as early as next month.
Japan’s core consumer inflation wallowed at a two-year low in July, increasing pressure for the central bank to acknowledge price momentum was slowing and expand its radical stimulus programme.
The United Arab Emirates stock markets closed higher on Tuesday, led by financials and property shares. Dubai’s main share index gained 0.5%, led by a 1.5% rise in blue-chip developer Emaar Properties and a 0.5% gain in Emirates NBD Bank.
The UAE banking system concluded the year 2019 in a resilient position with adequate capital and liquidity buffers well above regulatory requirements. The banking system remained profitable
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce & Industry (DCCI), and Dubai Technology Entrepreneur Campus (Dtec), a wholly owned tech co-working space by Dubai Silicon Oasis Authority, on Tuesday