US household wealth falls by a record $6.1 trillion in 2nd quarter

US household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year as a bear market in stocks far outweighed further gains in...

IMF in preliminary agreement with Sri Lanka for $2.9 billion loan

Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the international lender said in a statement on Thursday....

WGES highlights importance of green urban environment

Indian IT firms cut staff bonuses as US, EU clients tighten budgets

India’s top IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at US and European clients who are bracing for a recession will sharply hit their...

Anish Singh Thakur's venture Booming Bulls Academy is hitting new milestones

Generally, when a new bee enters the field of the stock market, he gets confused with the amount of information available freely over the internet in an unstructured manner &...

China’s jobless turn to car boot sales as Covid-hit economy stalls

When the COVID-19 pandemic forced Wang Wei to shut his tourism company, the Tianjin native poured his life-savings of 80,000 yuan ($11,785) into selling coffee from the back of his...

IMF fees on war-torn countries closer to elimination

The International Monetary Fund is facing pressure to reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine - which is one of the fund’s...

Golden Visa driving foreign investment

Inayat-ur-Rahman, Business Editor The 10-year residency programme, Golden Visa, has generated strong interest among foreign investors to buy property in Dubai, which has emerged as one of the most popular...

Gross banks’ assets in UAE stand at Dhs3,442.7 billion in May, says Central Bank

The Central Bank of the UAE (CBUAE) has announced that the gross banks’ assets, including bankers’ acceptances, rose to Dhs3,442.7 billion at the end of May 2022, an increase of...

UAE discusses plans to reinforce maritime collaboration with Egypt

The UAE Ministry of Energy and Infrastructure held a meeting with Egypt’s Ministry of Transport on the side-lines of its participation in the General Assembly of the Arab Academy for...