MENA Newswire News Desk: When comparing the benefits of setting up a business in Dubai versus the Cayman Islands, Dubai emerges as the clear winner for a variety of reasons that go beyond simple tax incentives. Dubai’s thriving infrastructure, strategic location, and dynamic market opportunities position it as a more robust and scalable environment for businesses of…
MENA Newswire News Desk: Trade between Moscow and BRICS countries rose by 14.7% in the first half of 2024, marking a significant boost in international commerce. The increase was confirmed by the Mayor of Moscow’s office and reflects efforts to strengthen economic ties between Moscow and its BRICS partners. Maksim Liksutov, Deputy Mayor of Moscow for Transport, highlighted that Moscow…
Job openings in the U.S. dropped to their lowest level since January 2021, adding to signs of a slowing labor market. The Bureau of Labor Statistics reported 7.67 million open positions at the end of July, down from 7.91 million in June. The July figure fell short of economists’ expectations, who had predicted 8.1 million job openings…
China announced on Tuesday that it will initiate an anti-dumping investigation into canola imports from Canada. The move comes shortly after Canada imposed significant tariffs on Chinese electric vehicles (EVs), leading to a sharp increase in domestic rapeseed oil futures in China. Last week, Canada followed the United States and the European Union by announcing a 100%…
China has issued a stern warning to Japan, threatening significant economic retaliation if Tokyo proceeds with additional restrictions on the sale and servicing of chipmaking equipment to Chinese firms. The move complicates ongoing US-led efforts to curb China’s access to advanced semiconductor technology. Japanese officials have been briefed on the potential consequences by senior Chinese…
The S&P 500 rebounded in August after a rocky start, ending the month with a 2.3% gain. This marked a reversal from the early August slump, where the index dropped by 6.1% in the first three trading sessions. Despite the volatility, 71% of stocks in the S&P 500 posted gains for the month, with 52 of them…
Travel
In a remarkable recovery from the COVID-19 pandemic, Tokyo welcomed a record-breaking 19.54 million international tourists in 2023, a sharp increase from previous years, as reported by the Tokyo metropolitan government. This surge represents a 28.7% increase compared to the 15.18 million visitors recorded in 2019, underscoring the city’s enduring appeal as a global tourism hub. Visitor numbers were meticulously…
Private jet flights have declined by 15% during the first half of the year, falling from their peak in 2022, signaling a significant downturn in the industry’s demand. This waning interest contrasts sharply with the surge in travel seen during the pandemic, marking a shift in the high-end travel market. Despite experiencing a temporary surge during…
Delta Air Lines is grappling with unprecedented flight cancellations as it struggles to recover from a major IT outage linked to Microsoft that began on Friday. The Atlanta-based airline has canceled over 4,600 flights from Friday through Sunday, surpassing any other carrier, and had to cancel an additional 550 flights by early Monday, representing 15% of its mainline operations.…
Ryanair shares plunged 14% on Monday after the budget airline reported a significant 46% drop in quarterly profit, attributing the decline to weaker-than-expected fares. The airline also warned of lower fare expectations in the upcoming months, adding to investor concerns. By 11:28 a.m. London time, Ryanair’s stock had fallen sharply, reflecting the market’s reaction to the disappointing…