Shoppers walk past a government advertisement in Newcastle, UK, on Thursday. Agence France-Presse
Retail sales volumes fell 8.2% compared with December, a far bigger fall than the 2.5% decrease forecast.
British retail sales rebounded much more strongly than expected last month as the country gradually relaxed its coronavirus lockdown, but public borrowing hit a record high and debt passed 100% of economic output.
Britain’s high street faces more than 5,000 job cuts after two of its biggest names said that customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country’s ailing economy.
Sheikh Mohamed witnessed the signing of the UAE-Indonesia Comprehensive Economic Partnership Agreement, alongside Joko Widodo. Under the trade deal, over 80% of UAE exports will gain immediate duty-free access to Indonesia.
AD Ports Group on Thursday announced that it has reached an agreement to acquire a 70 per cent equity stake in International Associated Cargo Carrier BV,
Four Chinese airlines said on Friday they will buy a total of 292 planes from Airbus in a $37 billion windfall for the aviation giant, as the industry rebuilds after the coronavirus pandemic.