A strengthening dollar is to putting pressure on the service industry, and being blamed for the Dubai private sector contracting. That’s according to financial experts following the latest Dubai Economy Tracker which indicated that the private sector had modest declines in February for the first time since 2010. The index is provided by Emirates NBD and is a monthly assessment of business activity. The index for February declined to 48.9 in February from 50.7 in January.
India to withdraw temporary domestic airfare caps from Monday
India will revoke the temporary fare caps it had imposed on domestic air tickets from Monday, the country's civil aviation ministry said on Saturday.
US allows 30-day sale of Iran oil at sea in bid to tame prices
The Trump administration has waived sanctions on the purchase of Iranian oil at sea for 30 days on Friday in its latest attempt to ease oil prices that have been driven up by the US-Israeli war on Iran.
Musk found liable to Twitter shareholders in fraud lawsuit
A federal jury found Elon Musk liable on claims he defrauded Twitter shareholders by trying to drive down the social media company's stock price so he could renegotiate or back out of a $44 billion takeover in 2022, Bloomberg News reported on Friday.
Amazon plans smartphone comeback more than a decade after Fire Phone flop
In 2014, Amazon introduced its first smartphone, hoping to take on Apple and Samsung. Instead, the Fire Phone - overseen directly by founder Jeff Bezos - was scrapped in barely over a year, one of Amazon’s highest-profile flops.
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