The Turkish lira weakened more than 1 per cent against the dollar early on Tuesday after the United States halted delivery of equipment related to the F-35 fighter aircraft to Turkey.
Japan will forge ahead with a planned sales tax hike to 10 per cent in October, likely knocking the economy into contraction in the fourth quarter, a Reuters poll showed. Tokyo has twice postponed raising the sales tax from 8 per cent but Prime Minister Shinzo Abe has repeatedly said the hike would be proceeded this time. To blunt its economic impact, the government has earmarked about 2 trillion yen ($18 billion) in spending.
German investor morale improved for the sixth month in a row due to a resilient global economy and a delay to Britain’s departure from the EU, a survey showed on Tuesday, but the growth outlook for Europe’s largest economy remains clouded by external risks.
China’s economic growth is expected to slow to a near 30-year low of 6.2 per cent this year, a Reuters poll showed, as sluggish demand at home and abroad weigh on activity despite a flurry of policy support measures. The median forecast was slightly lower than the 6.3 per cent economists had predicted in the last poll in January.
The 5th UAE-UK Joint Economic Committee (JEC) was held in London with the participation of a high-level official delegation from the UAE, headed by Engineer Mohammed Bin Abdul Aziz Al Shehhi, Undersecretary of Economic Affairs in the Ministry of Economy, on behalf of Engineer Sultan Bin Saeed Al Mansoori, UAE Minister of Economy.
Under the patronage of Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, and Chairman of Small and Medium Enterprises Council, the National Programme for Small and Medium Enterprises (NPSME) of the Ministry of Economy will host the Small and Medium Enterprises Exhibition (SME Expo) from April 29-30 at the Abu Dhabi National Exhibition Center (Adnec).
Britain’s Brexit-bound economy unexpectedly grew in February, helped by manufacturers rushing to meet orders from clients who are stockpiling goods ahead of the country’s break from the European Union, official data showed. While still sluggish, the economy expanded by 0.2 per cent from January, the Office for National Statistics said. Economists in a Reuters poll had expected zero growth.
The Sharjah Research, Technology and Innovation Park (SRTI Park) participated in the Annual Investment Forum (AIM) 2019 to discuss the park’s rapid growth towards creating an innovation-based economy by supporting applied scientific and technological research to carry out investment activities.
Berlin is set to further lower its economic growth forecast on Wednesday as Europe’s largest economy cools off, but ministers are unlikely to bend to foreign demands to boost activity with extra government spending.
The US economy got off to a roaring start in 2019, breezing past President Donald Trump›s extended government shutdown and wiping away fears of a slowdown in growth, at least for now, the government reported on Friday. The unexpected surge was welcome news for Trump,