For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
US job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month.
US job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labour market,
European Central Bank chief Christine Lagarde warned on Thursday that the pandemic still poses “serious risks” to the eurozone economy as concerns grow about new virus variants and sluggish vaccination campaigns.
The UAE SMEs sector contribute to more than 53 per cent of the UAE’s non-oil GDP, and this percentage is expected to rise to 60 per cent by the end of 2021, and to higher levels in the coming years,
The Abu Dhabi Fund for Development (ADFD) continued to advance its sustainable development agenda within the country and abroad through clean-energy initiatives.