Share trading in China has been suspended after the markets plunged more than 7%. It’s the second time this week that falling prices triggered the so-called ‘circuit breaker’ mechanism, introduced on Monday. Investors are spooked by the depreciating yuan and disappointing manufacturing data. Moves by the Chinese Central Bank are fuelling fears that the world’s second largest economy is slowing down. Brent crude prices have also hit new 11-year lows due to concerns about oversupply.
China's Xi pushes for global AI body at APEC in counter to US
Chinese President Xi Jinping took centrestage at a meeting of APEC leaders on Saturday to push a proposal for a global body to govern artificial intelligence and position China as an alternative to the United States on trade cooperation.
H.H. Sheikh Mansour holds talks with CEO of France’s CMA CGM Group
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, has explored ways to enhance cooperation in the maritime shipping and logistics sectors during talks with Rodolphe Saadé, Chairman and CEO of France’s CMA CGM Group.
ADNOC Distribution reports $579 million net profit in first 9 months
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group’s 9-month shows 20% revenue growth
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
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