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Undiscouraged by the rain, shoppers and visitors out on Oxford Street braving the bad weather from the latest storm using umbrellas on 28th January 2025 in London, United Kingdom. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping street with around half a million daily visitors to its approximately 300 shops, the majority of which are fashion and high street clothing stores. (photo by Mike Kemp/In Pictures via Getty Images)Mike Kemp | In Pictures | Getty ImagesBoth U.S. and global economic growth is set to be lower than previously projected,…

If Ramadan 2025 lasts for 30 days, 30th of Ramadan will also be a public holiday, extending the Eid break The Federal Authority for Government Human Resources (FAHR) in the UAE has announced that the Eid al-Fitr holiday for the federal government sector will be from 1st to 3rd Shawwal 1446 AH, with work resuming on 4th Shawwal. If Ramadan 2025 lasts for 30 days, 30th of Ramadan will also be a public holiday, extending the Eid break.On this occasion, FAHR congratulated the UAE government, its citizens, residents, and the Arab and Islamic nations, wishing them ongoing prosperity and well-being.Ramadan…

Forum seeks to attract multinational companies and fast-growing startups from Germany to DubaiDubai Chambers announced today that it will host the Dubai Business Forum – Germany in Hamburg on May 20. Building on the success of previous editions in China and the United Kingdom, the third international edition of the Dubai Business Forum seeks to unlock new economic opportunities and attract companies and foreign direct investment from Germany to support the goals of the Dubai Economic Agenda (D33).The event comes as part of the chambers’ ongoing efforts to strengthen economic partnerships, stimulate foreign direct investment, and consolidate Dubai’s position as…

The CPI measures the changes in prices paid by consumers for a fixed basket of 490 goods and services The annual inflation rate in Saudi Arabia remained stable at 2 percent in February 2025, maintaining the same year-on-year rate as the previous year. This rate underscores Saudi Arabia’s position as having one of the lowest inflation rates among G20 countries, SPA reported.The Consumer Price Index (CPI) measures the changes in prices paid by consumers for a fixed basket of 490 goods and services. This basket was selected based on the results of the 2018 Household Income and Expenditure Survey. Relevant…

China’s economy charted an uneven trajectory in the first two months of the year, a slew of key indicators showed on Monday, muddying Beijing’s drive to boost flagging consumption. Officials have looked in recent months to revive confidence in the world’s second-largest economy, which has been beset by persistent property sector woes and is now under increasing pressure from fresh trade tensions with the United States. Data from Beijing’s National Bureau of Statistics (NBS) on Monday offered some positive signs, showing retail sales — a key measure of consumer sentiment — increased four per cent year-on-year during January and February…

In a report released on Sunday, US investment bank Jefferies said it expected “the company’s volumes to benefit from strong growth momentum in the global [EV] and [energy storage system] markets”.The bank set its CATL price target at 413 yuan (US$57) for the next 12 months, implying growth of nearly 60 per cent from its current level.On Friday, the company – based in Ningde, Fujian province – said its 2024 net income rose 15 per cent to 50.7 billion yuan from a year earlier, its highest annual profit since it listed in Shenzhen in 2018. Revenue fell 9.7 per cent…

23,204 new companies launched in real estate and services, marking 8.4 percent annual growthA recent analysis conducted by Dubai Chamber of Commerce, one of the three chambers functioning under the umbrella of Dubai Chambers, has disclosed that 29,000 new companies operating in the trading and services sector became members of the chamber during 2024. This noteworthy growth underscores the sector’s crucial role in Dubai’s economic diversification.The construction sector also experienced remarkable growth in memberships, with 7,434 new companies joining the chamber in 2024, signifying an increase of 33 percent compared to 2023.A total of 23,204 new companies operating in the…

Upon shareholder and regulatory approvals, the share buyback would be conducted through open market transactionsBorouge announced today that it is seeking shareholder approval for a share buyback and the final 2024 dividend at its annual general meeting on April 7, providing the option for the company to purchase up to 2.5 percent of its issued share capital.The proposal comes after the petrochemicals company delivered outstanding 2024 financial results, achieving a 24 percent year-on-year increase in net profit to $1.24 billion and superior free cash flow generation of $1.6 billion, driven by record production and sales volumes.“Borouge’s share buyback to repurchase…

The volume of workers’ remittances from GCC countries is the highest globally, with the U.S. following closely behindThe center’s data shows GCC workers’ remittances abroad fell by nearly $500 million, or about 0.4 percent, by end of 2023.The total remittances of workers in the Gulf Cooperation Council (GCC) countries to foreign destinations reached $131.5 billion by the conclusion of 2023, as per the most recent data released by the GCC Statistical Center.The volume of workers’ remittances from GCC countries is the highest globally, with the United States following closely behind.Read more: Egypt’s overseas workers send home $7.5 billion in Q2…

U.S. Treasury yields were little changed on Monday as investors awaited retail sales data and looked ahead to a big week.At 4:41 a.m. ET, The benchmark 10-year Treasury yield was down more than one basis point to 4.294%, while the 2-year Treasury yield was up less than a basis point at 4.023%.One basis point is equal to 0.01% and yields move inversely to prices.Investors will parse through retail sales data for February on Monday which will show the total value of the sale of retail goods and services in the U.S. and is a key indicator for the health of the U.S. economy.The report, which…