Browsing: Business

UK inflation rose to 2.3% in October 2024, its highest in six months, driven by soaring energy costs. The Bank of England faces challenges balancing inflation control and economic growth.

U.S. businesses are stockpiling Chinese imports as President-elect Trump plans a 60% tariff, fueling inflation fears and supply chain concerns. Economists urge domestic investment.

Boeing announces layoffs for 438 employees amid financial challenges, citing overstaffing. The move is part of a broader 10% workforce reduction plan impacting 17,000 positions.

Korean domestic firms see first sales decline in four years, impacted by weak consumer spending and sluggish investment, raising concerns about the country’s economic recovery.

The EU forecasts modest GDP growth of 0.9% in 2024, with inflation falling sharply and economic stability gradually returning after prolonged stagnation and global economic shocks.

Japan’s GDP grew 0.9% in Q3, supported by consumer spending driven by tax cuts and bonuses. Domestic demand offset external pressures, showcasing the resilience of Japan’s economy.

Dubai’s PCFC launches the Dubai Code for Ports, a global first, setting new standards in maritime infrastructure and supporting Dubai’s growth as a leading global trade hub.

ADNOC L&S posts AED643 million Q3 profit, rising 18% YoY as it expands logistics and shipping operations, fueling overall nine-month revenue growth by 38% in a solid 2024 performance.

Airbus strengthens UAE partnership as all its aircraft now include UAE-made parts, underscoring ambitions to establish the UAE as a strategic hub for global aerospace manufacturing and export.

India and Russia are advancing on a $100 billion trade target, with progress in currency settlements, banking, and balanced trade amid sector diversification and longstanding economic ties.