A sales tax refund counter of a shop in Osaka, Japan. Reuters
Japan’s industrial output rebounded more than expected in July, but retail sales declined sharply and production was set to contract again next month, signalling a bumpy road for an economy facing growing global strains.
Japan’s retail sales tumbled at their fastest pace in more than 4-1/2 years in October as a sales tax hike prompted consumers to cut spending, raising a red flag over the strength of domestic demand.
Japanese households cut their spending for the first time in almost a year in October as a sales tax hike prompted consumers to rein in expenses and natural disasters disrupted business.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
The United Arab Emirates and Saudi Arabia have cautioned on Monday against “gloomy expectations” regarding the possible impact of the spread of the coronavirus on the global economy and oil demand.
After the success of its first showroom in Al Ain, 2XL Furniture & Home Décor has announced the opening of a second showroom in the city at Al Ain Mall. It also marks 2XL’s 10th store opening in the UAE, a major milestone for the luxe brand.
A rising number of central banks (CBs) are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements (BIS) showed, as interest in the technology heats up.
A number of officials, specialists and experts have stressed that the discovery of a new gas field in Sharjah will significantly enhance the Emirate’s economic resources and support the economic development and goals of the Emirate.