Picture used for illustrative purpose only.
It is unfortunate that the US-China trade war has entered a new phase at a time when the global growth itself remains shaky. Indications that negotiations would resume some time
China’s yuan fell to an 11-year low against the dollar on Monday and stocks dropped as the Sino-US trade war sharply escalated, threatening to inflict more damage on the world’s largest economies.
Global stock markets mostly climbed on Monday after China unveiled fresh stimulus measures, while below-par US jobs data reinforced expectations the Federal Reserve would cut interest rates this month.
China on Friday set a modest annual economic growth target, at above 6%, and pledged to create more jobs in cities than last year, as the world’s second-biggest economy planned a careful course out of a year disrupted by COVID-19.
Attended by Sheikha Shamma Bint Sultan Bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability, the UAE Circular Economy Council convened its meeting, presided over by Mariam Bint Mohammed Almheiri, Minister of Climate Change and the Environment to discuss ‘Year of Sustainability’ initiatives and COP28.
The Federal Tax Authority (FTA) has launched the ‘Tax Support’ initiative to raise tax awareness among business sectors in the UAE through direct and sustained contact, as a means to enhance compliance with tax laws and regulations. The first workshop for 2023 under the initiative was held on Jan.24 and 25 as a collaboration
US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week.