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Good news for UK economy as pay rates finally pick up - Dotemirates

Good news for UK economy as pay rates finally pick up

Sunlight shines between two buildings as people walk through the financial district of London, Britain. Aug 24, 2018. Reuters/Simon Dawson Official figures show that pay levels in the U.K. picked up strongly during the summer, a development that should shore up the economy amid the uncertainty surrounding Brexit.The Office for National Statistics said Tuesday that average earnings excluding bonuses over the three months through July were up 2.9 percent from the same period the year before. In the three months to June, regular pay rates were up 2.7 percent.The increase means households are better off in real terms as consumer...


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Business News

13 minute 41 second

UK inflation grows to 2.7% in August

Mubasher: The UK’s consumer price index (CPI), the measure of inflation, showed 12-month inflation rate of 2.7% in August, up from 2.5% in July. The country's CPI including owner-occupiers’ housing costs reached 2.4% last month, from 2.3% in July, data released by the Office for National Statistics (ONS) showed on Wednesday. The CPI rise was attributed to the increase in prices of recreational and cultural goods and services, transport services, and clothing. The largest downward contribution to the change of inflation came from furniture and household goods segment along with the telecommunications segment. Transport continued to make the largest upward...

New passenger terminal at Oman’s Duqm airport begins operations

New passenger terminal at Oman’s Duqm airport begins operations Robert Anderson Monday 17 September 2018 The new passenger terminal at Oman’s Duqm International Airport has received its first after beginning operations on Monday. Terminal B officially began commercial operations at 1:30pm. An Oman Air service from Muscat, WY935, was the first flight to arrive at 2:30pm. Following this, the first flight to depart will be return service WY936 at 5:00pm, the Ministry of Transport and Communications said. A video posted on Twitter showed WY935 being greeted with a water canon salute upon arrival. وصول أولى الرحلات إلى مبنى المسافرين الجديد...
17 minute 3 second

World economy on the verge of 'major reset' –Emirates’ President

Mubasher: The new US administration's newest policies may lead the global economy to a “mini” financial crisis, Emirates’ president Tim Clark has said. The ongoing trade war between China and the US could lead to a "major reset" in the coming two or three years, he told Bloomberg. “We have some extraordinary geopolitical forces at play,” Clark noted during an aviation event. The aviation sector is now marked by tough competition, which forced US carriers to reduce the number of their routes to China and caused Chinese airlines to complain about state subsidies paid to foreign aviation companies. Commenting on...

17 minute 56 second

Uber continues talks to buy Dubai’s Careem – report

Uber continues talks to buy Dubai’s Careem – report Staff Writer Tuesday 18 September 2018 Ride hailing firm Uber is continuing talks to buy Dubai-based rival Careem in a deal that could value the firm at $2-2.5bn, according to reports. Bloomberg cited sources as confirming negotiations had continued after talks were first reported by the news service in July. Read: Uber in talks with Dubai’s Careem to merge in Middle East – report Careem’s management is said to be working to convince shareholders of the merits of the deal, although no final decision has been made. “We believe the consumer...
18 minute 56 second

Japan's C.bank maintains optimistic view on economy

Mubasher: Japan’s central bank kept its monetary policy steady on Wednesday, maintaining its optimistic view on the country’s economy, even as escalating global trade frictions clouded the outlook, according to official data. The Bank of Japan (BOJ) maintained its short-term interest rate target at -0.1% and a pledge to guide the government’s ten-year bond yields around 0%. BOJ also left unchanged a new forward guidance, which was adopted in July, that pledges to keep interest rates very low for an extended period. The decision to maintain BOJ’s interest rate targets was made by a 7-2 vote with board members Goushi...
25 minute 34 second

Platinum jewellery in the spotlight at the “70th Primetime Emmy Awards”

The traditional 70th anniversary gift is platinum, so it was no surprise to see spectacular jewelry set in platinum glistening on the red carpet at tonight’s “70th Annual Primetime Emmy Awards.” From Heidi Klum’s statement necklace to Chrissy Teigen’s drop earrings and Jessica Biel’s diamond cluster bracelet, the world’s biggest television stars accentuated their custom couture gowns with ultra-glamorous and sophisticated platinum jewelry. Drop earrings set in platinum were also a noticeable trend at the show, as seen on Emmy winner Rachel Brosnahan, Mandy Moore, and Claire Foy. Platinum Guild International is pleased to share that leading red carpet jewelry...