An employee counts yuan banknotes. File
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
China’s banking and insurance regulator said on Saturday it did not expect a persistent decline in the yuan and warned speculative short sellers they would suffer “heavy losses” if they bet against the currency. The yuan has lost more than 2.5 per cent against the dollar since the festering China-US trade
World stocks held near two-month lows on Tuesday as slightly more optimistic comments from US and Chinese officials on trade brought some comfort, a day after equities suffered their worst selloff so far this year.
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
A skills mismatch that affects 1.3 billion people worldwide is imposing a 6% annual tax on the global economy in the form of lost labour productivity. Boston Consulting Group (BCG)
Dr Ahmad Bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills signed the agreement under which the UAE becomes an active member of the programme, which will extend for the next ten years, and aims to provide better skills and education for a billion people around the world.
Tourism, which accounts for about a quarter of Greece’s gross domestic product (GDP), will grow in 2020 despite the blow dealt to the sector last year by the collapse of British travel giant Thomas Cook, Tourism Minister Harry Theocharis said.