China: US has agreed to cancel trade tariffs in phases

China and the United States have agreed in the past two weeks to cancel tariffs imposed during their months-long trade war in phases, the Chinese Ministry of Commerce said on Thursday. China and the US must simultaneously cancel some tariffs on each other's goods for both sides to reach a "phase on


MasterCard, Visa and eBay among latest in Facebook Libra exodus

  Facebook's effort to create a cryptocurrency was dealt a blow on Friday after several key partners, including MasterCard, Visa, eBay, Stripe and Mercado Pago, abandoned the project. The defections followed fierce criticism from global regulators and lawmakers, and have prompted some indust


Up to 60 million 5G subscriptions in MEA by 2024

  DUBAI- FARAH HEIBA - Initial 5G technology subscription in the Middle East and Africa (MEA) during the next five years – or by 2024 – would be almost double compared with the LTE/4G technology take-up for a similar period, Ahmed Ijaz, Ericsson’s principal consultant in Midd


Asia stocks drop as slowdown fears rattle investors

Asia markets joined a global sell-off as fresh worries about trade and the world economy rattled investors. Japan's Nikkei 225 index closed down 2% and Australia's ASX 200 lost 2.2%. It followed sharp falls in US and European markets on Wednesday, with the UK's FTSE 100 index sinking 3.2%. The fa


Moody’s assigns Aa2 rating to Abu Dhabi’s $10 bln triple-tranche bond

Reem Abdellatif   Moody’s Investors Service assigned Abu Dhabi’s $10 billion three-tranche bond a ‘Aa2’ senior unsecured rating, citing the emirate’s “Very High (-)” economic strength. The rating is at the same level as the long-term issuer rating of


Global Aircraft Numbers to Increase 4.3 Percent Annually

The world’s passenger and freighter aircraft fleet is set to more than double from today’s nearly 23,000 to almost 48,000 by 2038, according to Airbus.In its ‘Global Market Forecast’, Airbus predicts aircraft traffic to grow at a rate of 4.3 per cent annually between this yea


LSE rebuffs takeover bid from Hong Kong exchange citing ‘fundamental flaws’

The London Stock Exchange Group has soundly rejected a £32bn takeover bid from its Hong Kong counterpart, listing a host of reasons including the protracted protests in Hong Kong. Hong Kong Exchanges and Clearing (HKEX) surprised markets on Wednesday by announcing that it had offered to buy t


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