The Federal Reserve building in Washington. File/Associated Press
A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report.
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.
Fifty-seven per cent of board members are UAE nationals. The new board includes 23 founders, CEOs and chairpersons with leadership experience in 15 countries across 5 continents.
Dubai Electricity and Water Authority (Dewa) has commissioned three new substations with a conversion capacity of 450 megavolt-amperes (MVA) in addition to 132 kV ground cables that extend on 35 kilometres
Business activity in the eurozone shot ahead at its fastest rate in 21 years in July, a closely watched survey said on Friday, as the economy went into full throttle with loosened Covid-19 restrictions.