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Global growth will slow to 1.9 percent in 2023, warn UN economists
UN economists warned that intersecting crises will further damage the global economy, causing growth to slow from three percent in 2022 to 1.9 percent this year. Apart from the 2007-8 financial crisis and the height of the COVID-19…
Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion
Abdel Fattah El-Sisi, president of Egypt, met Prime Minister Narendra Modi today in New Delhi. During this visit, India and Egypt exchanged MoUs on cyber security, culture, information technology, youth affairs and broadcasting. After the…
Google is planning to lay off 12,000 employees
In an email sent to Google's staff on Friday, Sundar Pichai announced the company would lay off 12,000 employees. The move follows the layoff of 28,000 employees by Amazon and Microsoft combined, as well as the announcement of 11,000 job…
India signs a train deal worth 3 billion euros with Siemens
In the largest locomotive deal in Siemens' history, the German engineering company reported on Monday that it had signed a contract with the Indian government. The contract is for the supply and maintenance of freight trains. The contract…
Indian exports surged to $569 billion from April to December 2022
From April to December 2022, India's overall exports combining merchandise and services are expected to grow by 16.11 percent compared to the same period last year. Overall, the country's exports during the period were estimated to be…
Mubadala acquires US-based Dental Care Alliance
Mubadala Investment Company (Mubadala) announced its investment in Dental Care Alliance (DCA), the leading US-based dental services organization with approximately 390 affiliated practices, along with a private equity fund managed by…
Property deals worth $2.2 billion in Dubai this week
Property transactions in Dubai exceeded $2.2 billion (AED8.1 billion) this week, according to Land Department data. A total of 2,574 real estate transactions were recorded during the week ending January 13. 221 plots were sold for $321.2m…
DWTC will begin 2023 with an action-packed Q1 schedule
The Dubai World Trade Centre (DWTC) launched the first quarter with an impressive conference and exhibition lineup. In the first nine months of 2022, Dubai returned to pre-pandemic economic form with year-on-year GDP growth of 4.6 percent.…
DP World and Maersk ink a long-term partnership at Jebel Ali
DP World has partnered with A.P. Moller-Maersk (Maersk) to improve operational efficiencies, enhance customer service and reduce carbon emissions. Maersk will benefit from the long-term strategic partnership and will implement enhanced…
Large round of layoffs is underway at Goldman Sachs
This week, Goldman Sachs will embark on one of its largest rounds of layoffs since the financial crisis. As part of a restructuring plan, the bank started layoffs on Tuesday that will result in the loss of up to 3,200 jobs. This is…