Al Seeb Developers’ Royal Regency Suites to be ready by March 2027
business2 hours ago
With world leaders gathering in picturesque Davos, the International Monetary Fund will release a sobering report on the slowing pace of global growth. The quarterly World Economic Outlook again highlights the sluggish pace of the world economy this year and the next. Barring a handful of large economies such as India and Japan, several countries will grow slower in 2019 and 2020. Last year's growth was pegged at 3.7 per cent. H
However, economic strains in the second half of 2018 are expected to continue in 2019 when it will slow to 3.5 per cent, before picking up a bit to 3.6 per cent in 2020. This is lower than what was predicted. The sticking issue is the US-China trade war and the ensuing stalemate. A 90-day truce between the economic powerhouses has helped but economists are not hopeful of a breakthrough. To make matters worse, US President Donald Trump's delegation is a no-show in Davos.
The Chinese economy, meanwhile, is showing signs of weakness and 6.6 per cent annual growth for 2018 is the slowest in the last three decades. The downturn has been sharper than expected and will have a ripple effect on the growth numbers of economies worldwide.
The Middle East, North Africa, Afghanistan and Pakistan collectively are also expected to slow down at 2.4 per cent this year, and recover to 3 per cent in the next. Some months ago, IMF chief Christine Lagarde had sounded the alarm for the economy and said reforms were the way forward. Her prediction is coming true. Positive factors that drove economic momentum in 2017 are ebbing. Unsustainable policies by governments and the rise of nationalists are causing more harm than good. The only answer to these bad tidings is more cooperation. More globalisation is what we need. A connected world is in our common economic interest. Are our leaders listening?
Al Seeb Developers’ Royal Regency Suites to be ready by March 2027
business2 hours ago
Reportage Properties offers special discounts on the company’s projects in the UAE, Saudi Arabia, Egypt and Turkey
business2 hours ago
The new projects include the new Dubai Police Academy building which can accommodate 2,500 male and female students
uae3 hours ago
On Sunday, Israel urged its citizens to avoid attending cultural and sports events abroad involving Israelis over the coming week
football3 hours ago
The former England footballer also voiced support for immigrants and Palestinians — often coming into conflict with the
football3 hours ago
Musk has also butted heads with Asia's richest man Mukesh Ambani in recent months over the way satellite spectrum should be awarded
asia3 hours ago
UN experts say the RSF has killed between 10,000 and 15,000 people in the West Darfur town of El Geneina alone
africa3 hours ago
Celebrating its 75th anniversary year, the championship promised an unprecedented two-hour extravaganza featuring all the teams and drivers
sports3 hours ago