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
As the slump in Initial Public Offerings (IPOs) and mergers on Wall Street continues to deepen this year, leading advisory firms including Morgan Stanley, Bank of America, and Citigroup have resorted to job cuts. Specifically, Morgan Stanley is planning to
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