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Trade war may cost China 700,000 jobs: JP Morgan - Dotemirates
2 month 1 week

Trade war may cost China 700,000 jobs: JP Morgan

Bloomberg The tariff battle with the US will probably cost China 700,000 jobs, or more in the event of further escalation.The job losses would come if the US imposes 25 percent tariffs on $200 billion in Chinese exports and China retaliates by devaluing its currency by 5 percent and adding to levies on US goods, according to economists led by Haibin Zhu at JPMorgan Chase & Co. If China doesn’t retaliate at all, 3 million people could lose their jobs, they wrote in a research note on Tuesday.Things may get even worse: if the US imposes 25 percent tariffs on...


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UAE News

7 minute 52 second

China is continuing IP theft: US

Bloomberg The US accused China of continuing a state-backed campaign of intellectual property (IP) and technology theft as the World Trade Organization (WTO) said it would establish a dispute panel to rule on the complaint.The new accusations came in a detailed 53-page report released by US Trade Representative Robert Lighthizer’s office just 10 days before President Donald Trump is due to meet Chinese President Xi Jinping on the sidelines of a November 30-December 1 Group of 20 summit in Buenos Aires.The timing of the report’s release appeared to be a move by some of the more hawkish members of Trump’s...
11 minute 40 second

Oil rebounds as US crude stockpiles drop

Bloomberg Oil recovered from a one-year low as industry data showing a drop in US crude inventories allayed some of the concern that a new surplus is amassing in global markets.Futures in New York rose as much as 2.7 percent after plunging more than 6 percent. The American Petroleum Institute was said to report a 1.55 million-barrel drop in stockpiles last week, compared with a gain forecast in a Bloomberg survey. US President Donald Trump thanked Saudi Arabia for working to reduce prices.Crude prices in London and New York collapsed along with equities amid the highest volatility since 2016. The...
13 minute 5 second

Arab world's first commercial N-reactor to be ready by 2020

The first commercial reactor in the Arab world will be ready to operate before 2020, announced the Federal Authority for Nuclear Regulation (FANR) on Wednesday. Christer Viktorsson, director-general of the FANR, told reporters in the Capital that the regulator is currently waiting for the "readiness declaration" from the plant's operator, which is in line with "the best" international practices. He said that once Barakah Unit 1 is declared ready, it will undergo inspection and a minimum of six months of testing, before it can begin the commercial operations. "We are not ready to give the operating licence yet, but we...

13 minute 9 second

F1 Grand Prix fever grips Abu Dhabi

Legions of F1 fans, along with thousands of tourists and residents, are flocking to the Capital this weekend as Yas Marina Circuit's Formula 1 Abu Dhabi Grand Prix returns for its 10th edition. Around 60,000 fans are expected to be in the city between Friday and Sunday, according to the Department of Culture and Tourism (DCT). Hotels across Abu Dhabi are also reportedly fully booked during this period. Saif Saeed Ghobash, undersecretary of DCT Abu Dhabi, said the F1 event is an opportunity for the Capital to showcase its diverse range of attractions, infrastructure and accommodation. "We are also able...
16 minute 20 second

Dana Gas ramps up gas output in Kurdish field

ABU DHABI / WAM Dana Gas, the Middle East’s leading publicly-listed regional natural gas company, and its partner Crescent Petroleum, have announced achievement of a 30% increase in production capacity at the Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of Pearl Petroleum. This increase delivers much-needed gas supply to fuel power plants in the region, and marked a major milestone as the companies commemorate 10 years of continuous production in the region in a special ceremony with the Kurdistan Regional Government in Erbil.The expansion at the Khor Mor gas processing plant...
38 minute 35 second

Adnoc to introduce Kumon method in two schools

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced that it has signed a partnership agreement with Japan Oil Development Co. Ltd. (JODCO) and the Kumon Institute of Education (KIE) to pilot the highly successful Kumon Method of learning mathematics in two Adnoc Schools in Abu Dhabi.The world-renowned Kumon method was pioneered in Japan and guides the instruction of mathematics and other disciplines for students ranging from kindergarten to high school. It also helps students to build study habits, concentration and a strong understanding of fundamental topics. Individual learning plans are created for the students, and, as...