Browsing: Business
The yuan has hit new record lows against the surging US dollar, with the internationally-traded yuan reaching its lowest point since 2011 and China’s domestic currency hitting its weakest level since the 2008 global financial crisis. This depreciation comes as
The Statistics Centre – Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report for 2022, revealing that Abu Dhabi’s economy grew by 9.3% by the end of the year, making it the fastest-growing economy in the Middle
The 12th edition of the Annual Investment Meeting (AIM Global 2023) is set to take place in Abu Dhabi from May 8 to 10. Participants from 170 countries are expected to attend the premier investment platform for global investors, including
Apple Inc.’s shares experienced an uptick in early trading after the tech giant reported a rebound in iPhone sales during the last quarter. The world’s most valuable company managed to surpass earnings estimates despite an industry-wide downturn that has affected
Shopify has announced plans to reduce its workforce by 20%, impacting over 2,000 employees, and has agreed to sell its logistics business to Flexport in exchange for approximately 13% equity. This news comes about 10 months after the company laid
Carl Icahn, the activist investor known for instigating corporate confrontations, has recently become a target himself. Hindenburg Research, a notorious short-selling research firm, disclosed a short call against Icahn’s investment outfit, stirring up considerable criticism for the veteran investor. The
Apple Inc., the Cupertino-based tech behemoth, has garnered unprecedented attention with the recent launch of its Apple Card Savings Account. The introduction of this financial innovation has seen an impressive inflow of nearly $1 billion in deposits within the initial
In a recent address to the diplomatic corps and students in the Dominican Republic, External Affairs Minister S Jaishankar underscored the burgeoning relationship between India and Latin America. He stated that the once-distant region is now firmly on India’s radar,
In a significant financial development, the Nikkei, Japan’s premier stock index, surged to an eight-month high, driven by the Bank of Japan’s (BOJ) decision to sustain its ultra-easy monetary policy. The central bank’s move, along with a series of robust
ADNOC Logistics & Services (ADNOC L&S) is advancing its global footprint with the successful docking of its LNG carrier, Ish, at the AG&P Philippines LNG (PHLNG) Import Terminal in Batangas Bay. This marks a significant expansion of the company’s operations,