New cars for exports at a port in Bremerhaven, Germany. File/Agence France-Presse
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,
Global stocks ground higher while oil ebbed on Thursday as investors diverged over whether to bet on economic recovery in the United States and other developed markets or worry about a surge in COVID-19 cases in India and elsewhere.
Abu Dhabi-based International Holding Company (IHC) is building a pioneering solar-powered irrigation system to drive increased energy-efficient agricultural (agri) production in Egypt.
Enoc Group in partnership with Rotary Arabia, one of the premier EPC contractors in Saudi Arabia, completed the building of vital pipeline and tank infrastructure to transport and store petrochemicals in the Kingdom’s Western Province.