Pedestrians walk past a board displaying share prices in Tokyo on Friday. Agence France-Presse
A gauge of global equity markets rose to a new high on Friday as US consumer spending in July suggested a strong economic rebound lies ahead, while the Japanese yen surged on safe-haven buying after Prime Minister Shinzo Abe resigned for health reasons.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
Japan’s economic growth unexpectedly accelerated in January-March, driven by net contributions from exports and defying forecasts for a contraction in the world’s third-largest economy. However, the surprise expansion was mostly caused by imports declining faster than exports, likely reflecting weak domestic demand,
Etihad Rail has concluded, ahead of schedule, the knowledge transfer programme with Deutsche Bahn (DB), Europe’s largest railway operator and infrastructure owner.
The metaverse and blockchain ecosystems are set to transform Dubai as a hub of innovation and giving impetus to its great strides to become a pioneer and build on its smart city status.
Dubai-based Bedu, the UAE’s pioneer in Metaverse and Web3 technologies, announced the launch of its Metaverse Project 2117.