ECONOMY

Noxious smog smothering the plains of north India is not only choking the lungs of residents and killing millions, but also slowing the country's economic growth.

Sharjah's real estate market continues to attract investors from various nationalities, with 114 different nationalities represented during this period. UAE citizens invested AED 13.7 billion in 22,908 properties while non-Emirati GCC citizens invested AED 1.7 billion in 1,166 properties.

Real gross domestic product (GDP) between July and September grew by 1.8 percent year-on-year, well down from a forecast of 3.1 percent growth from economists surveyed by Bloomberg.

Year-on-year consumer price increases in the 20-country single currency area reached 2.0 percent in October, rising from 1.7 percent in September, the EU's official data agency said.

Eurozone inflation fell to its lowest level in more than three years this month thanks to falling energy costs, official data showed on Friday, raising expectations of a European Central Bank interest-rate cut.

The US jobs market was probably cooler than expected in the year through March, Labor Department data showed Wednesday, signaling weaker but still-positive growth.

President William Ruto had warned of a funding shortfall after he decided in June to drop the controversial tax hikes after a bloody day in Nairobi that saw the storming of parliament and police firing live bullets on demonstrators.

The signing of the MoU highlighted China's growing role in the global economy and marked the 40th anniversary of diplomatic relations between the UAE and China.

Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday.

Chinese industrial production growth slowed in July while unemployment rose, official data showed Thursday, highlighting an uneven recovery in the world's second-largest economy despite recent government measures to try to stimulate expansion.

ADGM's progress has helped boost the financial sector's role in Abu Dhabi's non-oil economy, which grew by 9.7% in the first quarter of 2024. ADGM is becoming a global hub for asset management firms, top talent, and investments, firming Abu Dhabi's reputation as the "Capital of Capital."

The agreement includes plans to organize joint events that will provide updates on tax laws and procedures. Moreover, it will focus on helping UAE nationals with VAT refunds for taxes paid on building new homes.

The announcement of a new trade forum, "The UAE-China Summit presented by HSBC," was made at the roadshow covering Shanghai and Hong Kong. The summit, which will be part of the upcoming edition of Abu Dhabi Finance Week in December, aims to boost trade, investment, and cultural exchange between the two countries.

In the first half of 2024, 88.1% of sales listings and 73.8% of rental listings in Dubai stayed the same, marking an increase from 79.6% and 72.9%, respectively, in the same period the previous year.

The Bank of Japan further unwound its massive monetary easing programme on Wednesday by hiking interest rates for only the second time in 17 years and indicating plans for more if the economy performs as officials expect.

Britain's Labour finance minister Rachel Reeves declared Monday that the public finances face an extra GBP22-billion hole inherited from the previous Conservative administration and warned of "difficult decisions" ahead to cut spending or hike taxes.

The French economy -- the eurozone's second biggest after Germany -- expanded by 0.3 percent in the second quarter, outperforming the INSEE statistics institute's earlier estimate of 0.1 percent

Beijing is racing to achieve its goal of five percent annual growth in 2024, a target considered ambitious by many experts as the world's second-largest economy faces headwinds including an indebted real-estate market, flagging consumption and high youth unemployment.

US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday.

China's central bank on Monday cut two benchmark interest rates in a bid to boost lending and kickstart growth in the world's second-largest economy.

Chinese officials pledged Friday to help ease debt pressure on local governments through reforms to the tax system, after a key political gathering in the capital focused on jumpstarting the faltering economy.

China's leadership vowed Thursday to resolve "risks" plaguing the economy, state media said, but were yet to offer any concrete steps to pull the country out of its financial woes.

The IMF held global growth expectations for 2024 steady in a report Tuesday even as it cut forecasts for the United States and Japan, while warning of inflation risks and trade tensions ahead.

Braving loneliness, tough auditions and an unfamiliarly hot and humid climate, aspiring actor Guo Ting is determined to make it in China's answer to Hollywood.

The agenda aims to double Dubai's economy in the next decade and make it one of the world's top three economic cities. Dubai Customs welcomed Dubai Chambers' high-level delegation, which was led by Dubai Customs Director-General Dr. Abdulla Mohammed Busenad.

The London stock market advanced Friday after Britain's centre-left Labour Party clinched an expected landslide election victory to end 14 years of right-wing Conservative rule.

Eurozone inflation cooled in June, official data showed Tuesday but experts say it will not be enough to convince the European Central Bank to accelerate its rate-cutting cycle despite sluggish economic growth.

The IMF said Thursday it expects the US economy to grow a bit more slowly than previously forecast, while praising the way it has remained "robust, dynamic, and adaptable to changing global conditions."

Argentina's austerity-hit economy contracted by 5.1 percent in the first quarter, the national statistics agency said Monday, driven by a slowdown in the construction and manufacturing industries.