A container ship at a loading terminal in the harbour of Hamburg, Germany. Reuters
Strong German exports to the United States helped Europe’s largest economy to avoid a recession in the third quarter, a data showed on Friday, as companies benefitted from a weaker euro and trade diversion linked to the US-China tariff dispute.
German business morale fell to its lowest level since November 2014 in June, a survey showed on Monday, adding weight to expectations that Europe’s largest economy contracted in the second quarter.
German industrial activity is sluggish and recent data point to slower growth in the service sector, the German Economy Ministry said, adding this suggested Europe’s largest economy would experience a weak general economic trend.
Germany’s spluttering economy returned to growth in the first quarter as consumers spent more freely and construction activity picked up, but the government said the outlook remained clouded by trade disputes. Gross domestic product (GDP) rose 0.4% quarter-on-quarter,
Dubai Land Department (DLD) is to enhance and consolidate its relationship with its partners. Aiming to strengthen its relationship with the partners and to appreciate their roles, DLD organised the annual forum to honour the various partners
Sanad Powertech, a wholly-owned subsidiary of Mubadala Investment Company, has been awarded a contract for the maintenance, repair and overhaul (MRO) operations of the steam engine and power generator of Shams Power Company,
Southwest Airlines is extending cancellations of Boeing Co 737 MAX flights until June 6, citing the planemaker’s decision to recommend pilot simulator training before resuming flights and uncertainty about when regulators will approve their return to service.
The US housing market recovery was back on track amid low mortgage rates. The US homebuilding surged to a 13-year high in December as activity increased across the board and this could help support the longest economic expansion on record.