Employees work on a drilling machine production line at a factory in Zhangjiakou, Hebei province, China. Reuters
Steep drops in auto sales for China and India over recent months are serving as a painful reminder that the world’s two most populous markets are not living up to the earlier heady expectations.
BEIJING: China’s exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy as trade talks with the United States reach their endgame. Investors are hoping for signs of economic recovery in China
South Korea’s exports in May fell more than expected and for a sixth consecutive month from a year earlier, official data showed on Saturday, as expanding trade friction between the major economies darkened the prospects.
Opec and allied nations agreed on Saturday to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost energy prices hard-hit by the coronavirus pandemic.
G20 members and invited countries have pledged more than $21 billion to fight COVID-19 and, with a spirit of solidarity, have shown they will spare no effort to protect lives and the most vulnerable.
Emaar chairman Mohamed Alabbar has told the UAE’s leading contractors that they must prepare for a new way of working as the economic activity gradually starts to pick up.