economic growth

Eurozone third-quarter growth hits 0.6%: Eurostat

Brussels - AFP

Economic growth in the eurozone hit 0.6 percent in the third quarter, the EU's official statistics agency said. The figure is higher than predictions by analysts at data company Factset, who forecast GDP expansion of 0.5 percentRead more

Abu Dhabi's growth set to pick up on fiscal reserves

Abu Dhabi - Emirates Voice

Abu Dhabi's economic growth will gradually pick up as the fiscal positions will remain extremely strong over the next two years, according to S&P. A note issued by the ratings agency on Sunday affirmed the emirate's 'AAA+' rating with stable outlook. "Over the next two years, Abu Dhabi's economy will remain resilient and its fiscal reserves well above 100 perRead more

Major investments to boost Dubai's economy

Abu Dhabi - Emirates Voice

Dubai has outperformed global economic growth and defied downward trends that prevailed worldwide in 2016, Sheikh Ahmed bin Saeed Al Maktoum, Second Deputy Chairman of the Executive Council, said on Sunday. Dubai's economy is poised to expand further over the next two years, driven by major investments as well as growth in tourism, real estate and manufacturing sectors, said SheikhRead more

Why GCC demand for petrol and diesel

Abu Dhabi - Emirates Voice

Consumer demand for petrol and diesel in Gulf countries has been waning since price reforms were initiated by regional governments and subsidies were dropped. Hence, many residents are switching from more expensive higher-grade petrol to economical lower-grade options, analysts said. Demand for petroleum products was growing robustly due to strong economic growth, an increase in population and heavy subsidy priorRead more

Asia can unlock $5t, 230m jobs

Abu Dhabi - Emirates Voice

Businesses in Asia could unlock at least $5 trillion in market opportunities and create 230 million jobs by 2030 by implementing a few key development goals, global business and finance leaders said. Asia's unprecedented economic growth has helped to reduce poverty, but future growth, prosperity and stability "are all under threat from the impact of a swelling list of environmentalRead more

OECD: New Zealand's 'green' image under threat

Wellington - AFP

New Zealand's strong economic growth is placing strains on the environment that threaten to undermine its "clean, green" reputation, the Organisation for Economic Co-operation and Development (OECD) warned Tuesday. The South Pacific nation has long marketed itself internationally as "100 percent pure" and is undergoing a tourism boom as visitors flock to see the spectacular scenery featured in films suchRead more

US job growth seen strong in February

Washington - Arab Today

US employers likely maintained a brisk pace of hiring in February and boosted wages for workers, which is expected to give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. Non-farm payrolls probably increased by 190,000 jobs last month, according to a Reuters survey of economists, in part as unseasonably mild weather buoyedRead more

ECB: Core inflation still too low

Frankfurt - Arab Today

The European Central Bank (ECB) has opted against any change to its stimulus programs even though economic growth across the 19-country euro zone appears to be picking up steam and inflation has risen to the bank’s targets. In a press briefing Thursday after the bank kept policy unchanged, President Mario Draghi argued that the recent rise in the annual inflation rate toRead more

Inflation outpaces British wage growth

London - Arab Today

British wage growth will not keep up with soaring inflation this year, according to economists in a Reuters poll who were concerned a consumer spending slowdown was underway. Shoppers have been one of the main drivers of economic growth since Britain voted in June to leave the EU and any signs they are reining in spending will be a worryRead more

China’s steel, coal curbs a double-edged sword for imports

Launceston , Australia - Arab Today

China’s determination to tackle its choking pollution by cutting steel and coal capacity should be a long-term negative for exporters of iron ore and coal to the world’s biggest commodity importer, but the reality is likely to be far more nuanced. “We will make our skies blue again,” Premier Li Keqiang told the opening of the Parliament on Sunday. ThatRead more