A container ship is unloaded at the Virginia International Gateway terminal in Norfolk, US, on Thursday. Associated Press
May survey data for Dubai’s private sector non-oil economy continued the recent twin themes of strengthening output growth and weak job creation.
After months of hand-wringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 US homebuilder PulteGroup this week were ready for the worst. Their trepidation was justified. New home sales across the country had fallen for three consecutive quarters to close out 2018.
With less than 19 months left for the inauguration of the Expo 2020, its organisers have further speed up the pace of allocating contracts to thousands of local and foreign firms to ensure timely preparation of the event, which is set to be the largest of its kind in the Arab World.
A 63-year-old US-based global non-profit non-partisan organisation into educating the world about Asia is honouring Sheikha Hoor Al Qasimi, daughter of UAE Supreme Council Member and Ruler of Sharjah His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi and Her Highness Sheikha Jawaher Bint Mohammed Al Qasimi, for bridging understanding through the arts and culture.
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.
Production growth of India’s manufacturing sector eased in March amid export decline, PMI survey report showed. Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing PMI grew at the slowest rate for four months in March,
Softbank Group Corporation said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
Some 898,822 workers lost their jobs since March 12 in Spain, social security data showed on Thursday, more than half of which are temporary workers. The number of people officially registered as unemployed in the country rose to 3.5 million in March, the highest level since April 2017.