Monday, July 24, 2017

Business News

Dubai residential sales prices post recovery but rents soften: report

Dubai’s residential sales market is displaying signs of recovery with an increase in transaction levels and new units coming on board. That’s according to the real estate services firm Core Savills’ latest report which shows more than 3,500 homes were delivered during the second quarter of this year, while overall ...

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IMF lowers growth forecast for US and UK

The economies in the United States and Britain will expand slower than previously predicted. That’s according to the International Monetary Fund (IMF), which put its new forecast down to weak performances in the first quarter of the year. It specifically highlighted the failure of US President, Donald Trump, to deliver ...

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Russia urges Libya, Nigeria to joint OPEC oil cuts deal

Russia has urged Libya and Nigeria to join the global oil production cut deal agreed by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members late last year. Oil producers, meeting in Russia on Monday, are battling to boost crude oil prices that have been slipping in recent ...

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UK and US to hold talks on post-Brexit trade deal

The UK is set to hold talks with the US, for the first time, in a bid to work on a potential post-Brexit trade deal. UK Trade Secretary Liam Fox will meet with his US counterpart Robert Lighthizer in Washington over two days to chalk out a plan. He is ...

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Dubai’s economy outperforms global growth in 2016

Trade dominated Dubai’s economy last year, accounting for 28 per cent of the GDP. According to new official data, transportation and storage were the next biggest sector at 12 per cent. Financial services came third at 11 per cent.  Oil revenues make up less than 1 per cent of Dubai’s GDP. ...

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