Job seekers and recruiters gather at TechFair in Los Angeles, California. Reuters
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.
New orders for US-made capital goods increased by the most in eight months in March, hitting their highest level on record and brightening the outlook for manufacturing and the economy.
US job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labour market,
The Sharjah Finance Department, SFD, recently established a framework worth Dhs4 billion to enhance liquidity for the banking system in the emirate. The move aims to provide additional financial assistance to all businesses impacted by the outbreak of COVID-19.
Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of homegrown technology firms Bayut and dubizzle, have announced the merger of their Mena and South Asia operations to form an Dhs3.6 billion ($1 billion) Dubai-based unicorn company.
Jubail Island Investment Company (JIIC), has awarded continuing infrastructure works contract worth more than Dhs200 million for Jubail Island to Gulf Contractors Company (GCC).