The total value of commodity trade between the UAE and the United States reached Dhs65.44 billion ($17.83 billion) last year, down by around 27 per cent from Dhs89.26 billion ($24.32 billion) in 2019.
The number of Americans seeking unemployment benefits fell slightly last week to 793,000, evidence that job cuts remain high despite a substantial decline in new confirmed viral infections.
World shares dipped on Friday as investors awaited progress towards more US fiscal stimulus, while the dollar was set for a weekly loss and cryptocurrency Bitcoin hit a record high.
US President Joe Biden’s administration told allies on Friday it was re-engaging with them to help steer the global economy out of its worst slump since the Great Depression, a contrast with the go-it-alone approach of Donald Trump.
World shares sank on Monday as expectations for faster economic growth and inflation battered bonds and boosted commodities, while rising real yields made equity valuations look more stretched in comparison.
On Feb. 15 the World Trade Organisation (WTO) elected Ngozi Okonjo-Iweala as the body’s seventh director general. She is the first woman and the first African to hold this post.
Global stocks fell on Friday, with emerging market and Asia shares hardest hit, as a recent rout in global bond markets spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
G20 finance ministers and central bankers were meeting on Friday to align plans to relaunch the global economy after the coronavirus pandemic and to limit the harm to the worst-off nations shut out of the race for vaccines.
Boeing Co will pay $6.6 million to US regulators as part of a settlement over quality and safety-oversight lapses going back years, a setback that comes as Boeing wrestles with repairs to flawed 787 Dreamliner jets that could dwarf the cost of the federal penalty.
The US budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said on Friday. The ocean of red ink is a product of the government’s massive spending to try to cushion the impact