The UAE’s economy is set to grow faster than Saudi Arabia’s in 2023, making the emirates the fastest growing in the Arabian Gulf, according to the latest figures from the International Monetary Fund (IMF). The IMF is predicting the UAE’s economy will grow 4.2% next year, beating Saudi Arabia (3.7%), Bahrain (3%), Oman (4.1%), Kuwait […]
The withdrawal of R1,000 and R500 notes from circulation in 2016 has led to a rise in the amount of tax collected and increased digitalisation in the wider economy. That’s the view of RBI Monetary Policy Committee member Ashima Goyal, who said that the demonetisation “will help the nation move towards the ideal situation where […]
China’s central bank is ramping up monetary support to help boost the country’s economic recovery, with investment set to impact in the fourth quarter, according to Yi Gang, governor of the People’s Bank of China (PBOC). “China’s monetary policy will stay accommodative to support the real economy,” Yi said in an interview at the recent […]
An all-in-one digital transformation app designed specifically for small and medium-sized enterprises has been launched by United Overseas Bank Malaysia (UOB). The UOB SME app is the first to provide a suite of solutions that addresses financing and other business needs, both on desktops and mobile devices, the bank said. UOB said: “Through the platform, […]
Trade between the UK and India hit record levels despite the fact that the much-vaunted free trade agreement between the two countries has yet to be signed. Exports from the UK in July (£939m) and August (£913m) surpassed £900m for the first time, putting the total volume of exports to India so far in 2022 […]
Trade between China and the US grew by 8% in the first nine months of 2022, according figures from the Chinese customs authority, with exports to the US seeing solid growth despite ongoing political tension between the superpowers. According to the data, year-on-year trade between the two countries grew to 3.8 trillion yuan ($523 billion) […]
The UAE has scrapped the three-year limit for fixed-term employment contracts for companies in the private sector, the Ministry of Human Resources and Emiratisation (MoHRE) has announced. The amendments update the new UAE labour laws that came into effect in February 2022; however, fixed-term contracts in the private sector must still have a set duration, […]
Despite the fact that India’s inflation rate was well above 7% in September, Finance Minister Nirmala Sitharaman said it is “at a manageable level” compared with where some other countries are at present. But she said the government wasn’t being complacent about inflation, and said it “was working to bring it under 6% and ideally […]
Shao Ke, a senior researcher at the Bank of China Research Institute, said: “The Chinese banking sector has proactively responded to policies aiming to stabilize the economy and continuously intensified efforts to assist enterprises in overcoming difficulties. It increased credit supply to ensure targeted support for the real economy and consolidate the foundation of economic […]
