Egypt’s communications ministry will begin work on a 40 billion Egyptian pound ($2.44 billion) telecommunications network in the first phase of a new capital city being built east of Cairo, a cabinet statement said.
Japan’s core machinery orders slipped in July, albeit at a slower-than-expected pace, as slowing global demand and protracted trade tensions hit corporate investment in the world’s third-largest economy.
Hong Kong stock exchange shares fell more than 3% on Thursday as investors raised concerns about the political and regulatory risks involved in its $39 billion approach to take over London Stock Exchange (LSE).
Swedish solar energy company Azelio has partnered with Abu Dhabi Future Energy Company (Masdar) and Khalifa University of Science and Technology (KUST) to run a pilot project evaluating new technology in power storage.
Opec and its allies agreed on Thursday to keep current production cuts until further review in December, with the Kingdom of Saudi Arabia pledging to further strengthen its voluntary production adjustment to 9.890 million bpd in October.
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and South Asia (MEASA) and home to the largest, most developed FinTech ecosystem in the region,
US underlying consumer prices increased solidly in August, leading to the largest annual gain in a year, but rising inflation is unlikely to deter the Federal Reserve from cutting interest rates again next week to support a slowing economy.
The bitter trade war between China and the United States kept Asian factory activity mostly in decline in August, business surveys showed, strengthening the case for policymakers to unleash fresh stimulus to fend off recession risks.