Stocks in China have plummeted to an eight-month low, dashing hopes that the country’s economy was on its way to a strong recovery. After markets slumped nearly 3 percent on Friday, today saw China's blue-chip CSI300 index fall 2.1% to 3,065.62, while the Shanghai Composite Index lost 2.8%, dropping down to 2,832.11 points. China’s April trade data, which was released yesterday, further dampened the outlook with both exports and imports dropping more than expected.
ADNOC awards manufacturing contracts worth $196.2M
ADNOC has awarded contracts valued at AED 720 million ($196.2 million) to 11 companies for local manufacturing of a wide range of product across the value chain.
Emirates profit hits record AED9.7b in first corporate tax year
Emirates profit for the first half of 2024-25 hit a new record of AED 9.7 billion ($2.6 billion) before the newly implemented corporate tax, up 2 per cent compared to the same period last year.
China stocks fall as investors brace for Trump presidency
China and Hong Kong stocks started lower on Thursday as investors priced in heightened tensions around security and trade in a second Donald Trump presidency, with losses contained by expectations from a key Chinese leadership meeting.
UAE and Australia sign major economic agreement
The UAE and Australia have signed a Comprehensive Economic Partnership Agreement (CEPA), witnessed by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs.
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