Friday, 19 April 2019

Business

UAE and India sign 35 billion rupees currency swap agreement

  ABU DHABI: India and the United Arab Emirates on Tuesday signed a currency swap agreement to boost investment and enable direct trade without using dollars or other international currencies. The swap is for 2 billion dirhams or 35 billion Indian rupees ($496 million), depending on which central bank requests ...

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Emirates reveals Diamond studded plane

DUBAI: Emirates revealed a diamond emblazoned plane, Timeout Dubai reported. While the actual picture has not yet been aired, a mock-up image created by artist Sarah Shakeel was shared by the airline last night. The picture shows a dazzling plane parked under a starlit sky, which gives us just a ...

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Trump agrees to reach trade deal with China in 90 days

WASHINGTON: US President Donald Trump in a tweet said he agrees with a statement issued by China expressing full confidence that a trade deal between the two countries can be reached within the next 90 days. Statement from China: ‘The teams of both sides are now having smooth communications and good cooperation ...

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Don’t see ‘elements of recession’ in near term: Lagarde

WASHINGTON: Despite some uncertainty and market volatility, the United States is not likely to see an economic contraction in the near term, IMF chief Christine Lagarde said Thursday. On a day when Wall Street dropped three percent before recovering some ground, Lagarde said “there’s a question mark about growth prospects ...

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Nestle recalls batch of Alfamino infant formula in Germany

ZURICH: Nestle has recalled a batch of its Alfamino amino acid specialist infant formula in Germany, saying a number of the products have a substantially increased dose of minerals that could make children sick. “A baby that consumes a product from amongst these few (faulty) tins, can become sick with ...

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Top Huawei executive detained in Canada

OTTAWA: A top executive and daughter of the founder of Chinese telecom giant Huawei has been arrested in Canada and faces extradition to the United States, officials said, angering Beijing days into a trade war truce with the US. The detention of Meng Wanzhou, Huawei’s chief financial officer, comes after ...

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Pak-India trade can touch $37b mark: World Bank

KARACHI: The World Bank has noted in its report that trade between Pakistan and India could increase to $37 billion from existing only 2 billion dollars if the two South Asian countries ready to reap the benefits of shared land borders. South Asian countries are yet to reap the benefits ...

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Zurich Insurance says on track to meet 2019 targets

ZURICH: Zurich Insurance is on track to achieve its financial targets for the 2017-2019 period, the Swiss insurer said in a statement on Wednesday ahead of its investor day. “Zurich Insurance Group is fully delivering on its 2017-2019 financial targets, having restored management discipline and efficiency,” the company said. The ...

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