dollar

Dubai gold price remains steady at Dh151 for 22k

Dubai - Emirates Voice

Gold prices held steady on Monday amid a softer dollar as the US government shutdown due to a funding impasse unnerved investors. Dubai gold prices are Dh161.25 for 24-karat and 22-karat can be bought for Dh151.50. Spot gold was mostly unchanged at $1,331.57 an ounce by 0310 GMT. Spot gold fell 0.5 percent last week, its first weekly declineRead more

Dollar still under pressure as China hits out at 'fake news'

london - Emirates voice

The dollar came under fresh selling pressure Thursday even after China hit back over a "fake news" report that it could slow or halt purchases of US Treasuries. The greenback had dived Wednesday against most rivals as Bloomberg News reported that Chinese authorities reviewing foreign-exchange holdings had recommended the move. Initially fruitful, the dollar's attempts to recoup the previous day's losses fizzledRead more

US dollar primed for more drops after disappointing December

Dubai - Emirates Voice

Since mid-December, the US dollar has been the biggest loser among the various asset classes, dropping to more than three month lows against a basket of major currencies. Despite Donald Trump and his Republicans delivering the long-heralded tax plan ahead of the Christmas holidays, market participants took the news in a positive stride and instead poured into higher yielding assetsRead more

Trump's North Korea rhetoric lifts gold

Abu Dhabi - Emirates Voice

Gold prices rose on Wednesday, aided by a weaker dollar ahead of a US Federal Reserve policy announcement at 1800 GMT that could signal whether it will raise interest rates for a third time this year. A threat by US President Donald Trump to "totally destroy" North Korea also helped to push the dollar lower while stimulating demand for gold.Read more

Worldwide IT spending forecast to grow 2.4%

Abu Dhabi - Emirates Voice

Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.4 per cent increase from 2016, according to Gartner, Inc. This growth rate is up from the previous quarter's forecast of 1.4 percent, due to the US dollar decline against many foreign currencies "Digital business is having a profound effect on the way business is done and howRead more

Toshiba mulls sale of controlling stake in Westinghouse unit

Tokyo - Arab Today

Toshiba is considering the sale of a majority stake in its Westinghouse nuclear unit as the company grapples with construction delays and a multibillion dollar write-down in the business. Shares reversed an earlier decline. The Tokyo-based company is reevaluating Westinghouse’s position within the group and it may deconsolidate the nuclear unit by selling a controlling equity stake. Toshiba made theRead more

China posts rare trade deficit as Feb imports surge 44.7% in yuan terms

Beijing - Arab Today

China unexpectedly posted a rare trade deficit in February as imports surged far more than expected to feed a months-long construction boom, driven by commodities from iron ore and copper to crude oil and coal. Imports in yuan-denominated terms surged 44.7 per cent from a year earlier, while exports rose 4.2 per cent, official data showed on Wednesday. That leftRead more

Market expectations stable for RMB exchange rate

Beijing - Xinhua

China's currency, the yuan, is experiencing two-way fluctuations, and market expectations are stable for its future trend, central bank deputy governor Pan Gongsheng told reporters on Saturday. Pan made the remarks in Beijing before attending a panel discussion during the annual session of the Chinese People's Political Consultative Conference National Committee, which opened on Friday. Speaking of market concerns overRead more

US mansion owned by UAE Embassy destroyed by huge fire

Dubai - ArabToday

A mansion owned by the UAE Embassy in Northern Virginia, the US, has been destroyed by fire. Six people and two dogs were rescued during the incident at the property in McLean, which is 13km outside Washington, DC. The five-bedroom, six-bathroom house, valued at US$2.7 million (Dh9.9m), was destroyed on Saturday morning. It was believed the fire started in theRead more

Egypt pound rebounds from flotation slide

Cairo - Arab Today

The Egyptian pound strengthened against the US dollar on Monday, regaining ground after record lows which followed the central bank's decision to float the currency in November. After plunging to 8.83 pounds against the dollar before the flotation to almost 20 in December, the pound has strengthened since last week to reach less than 16 against the dollar. Faced withRead more