Category: INTERNATIONAL
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Dubai’s DP World inks India deal, eyes $1bn investments
Dubai-based DP World and the National Investment and Infrastructure Fund (NIIF) have signed an agreement to develop the logistics sector in India. The agreement comes as a result of the visit to India in February 2016 of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Sultan Ahmed bin Sulayem, DP World…
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China’s 1st big passenger jet completes maiden flight
China’s first large jetliner has successfully completed its maiden flight, a key moment in the country’s push to challenge the U.S. and Europe as a global manufacturer. The C919, China’s first domestically designed and built large airliner, took off Friday afternoon from Shanghai Pudong International Airport into hazy skies with a five-person crew aboard. The…
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UK service sector growth picks up in April
Activity in the UK’s service sector accelerated in April, with new work growing at its fastest pace this year, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for services rose to 55.8, its highest level for four months. It has now been above the 50 level that marks the divide between growth…
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U.S:Oil prices trim losses as slide on supply glut leaves WTI near six-month low
Oil prices trimmed losses on Friday, having fallen more than 3 percent at one stage, the day after skidding to five-month lows as mounting concerns about global oversupply wiped out price gains since OPEC sealed a landmark accord to cut output. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $44.92 per barrel…
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Goldman’s Blankfein says London could stall due to Brexit – BBC
London’s progress as a financial center could stall because of the upheaval Brexit will bring to the industry, Goldman Sachs (GS.N) Chief Executive Officer Lloyd Blankfein was quoted as saying by the BBC. When asked whether London’s long-term expansion over the past three decades would go into reverse, Blankfein said: “I don’t think it will…
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Asian stocks fall for third day on commodity fears, China hits three-month lows
Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed…
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U.S. employment growth seen rebounding, wages increasing
U.S. job growth likely rebounded in April and wages increased, pointing to a further tightening in labor market conditions that could pave the way for the Federal Reserve to raise interest rates next month. Nonfarm payrolls probably increased by 185,000 jobs last month, according to a Reuters poll of economists, after a paltry gain of…
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Zimbabwe: Mangundya Must Resign Over Bond Notes Failure – Pressure Groups
CIVIL society movements have demanded the immediate resignation of Reserve Bank of Zimbabwe Governor, John Mangudya over the failure of bond notes to ease the country’s cash crisis. Addressing a press conference in Harare Tuesday, spokesperson for the organisations, Pastor Evan Mawarire of This Flag movement, said Mangudya had promised to resign if the bond…
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Zimbabwe: Chinese Firm to Set Up Assembly Plant in Zim
One of the world’s leading automotive manufacturing companies, FAW Group Corporation is in the initial stages of setting up a vehicle assembly plant in Zimbabwe this year. This planned development is expected to boost Government’s efforts to revive the country’s motor assembly industry.As part of its commitment to investing in the county, FAW Zimbabwe recently…
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Rwanda: Egyptian Envoy Tips Local Exporters
The business community should take advantage of the good trade relations between Rwanda and Egypt to create useful linkages and partnerships to expand market for locally-made products. According to Mazen Gaber Mousa, the deputy chief of mission at the Egyptian embassy in Kigali, such partnerships could help build capacity of local industrialists and boost the…