Investing in women’s employment is the most efficient way to build a resilient, inclusive and future-proof economy, Ebru Ozdemir, chairperson of the Board of Limak Holding and chair of the World Economic Forum (WEF) Engineering and Construction Industry Group, has said.In an article written ahead of the annual Davos summit, Ozdemir stressed that reskilling and…
The IT industry body MAIT has urged the government to reduce basic customs duty on key electronic components and enhance tax incentives in the upcoming Union Budget to strengthen domestic manufacturing and improve global competitiveness.In its pre-Budget recommendations submitted to the finance and IT ministries, the Manufacturers’ Association for Information Technology (MAIT) proposed cutting basic…
UAE raises minimum wages: What are the new Dubai salaries for workers in different sectors? Dubai and the wider United Arab Emirates are advancing a major shift in private-sector compensation norms with a new minimum wage policy for Emirati workers as a part of the broader efforts to strengthen labour standards and boost Emiratisation. Although…
Even as global economic uncertainity drags down trade, Indian pharmaceutical exporters are seeing growth in Brazil and Nigeria as both countries are emerging as important overseas markets. Data by the commerce ministry data shows that Nigeria has been a major driver of this shift. During the first eight months of the current financial year, exports…
European leaders have pushed back against US President Donald Trump’s latest tariff threat, warning that using trade penalties in connection with Greenland is “wrong” and could damage transatlantic ties.Trump, on Saturday, announced a 10% tariff on all goods entering the United States from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland,…
EW DELHI: The Directorate General of Civil Aviation (DGCA) has slapped IndiGo with the steepest fine ever for an Indian carrier – Rs 22.2 crore – for its massive flight disruptions last month.Additionally, the airline has to submit a bank guarantee of Rs 50 crore whose release is tied to implementing, among other things, the…
European Union leaders on Saturday warned US President Donald Trump against using tariffs as leverage in his bid to acquire Greenland, cautioning that such measures could severely damage transatlantic relations.This comes as Trump said that from February 1, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland would face a 10 per…
India needs a comprehensive overhaul of its import tariff structure and customs administration to reduce trade costs, improve manufacturing competitiveness and revive export growth, think tank Global Trade Research Initiative (GTRI) said on Saturday, PTI reported. In a report titled A Blueprint for Modernizing India’s Import Tariffs and Customs Regime, GTRI recommended a gradual move…
US President Donald Trump threatened multiple European countries with 10% tariff as he escalated his bid to take control of Greenland. The 47th POTUS said that starting February 1, eight European countries will face a 10% levy on goods sent to the US.In a lengthy statement posted on social media, Trump accused Denmark and other…
China has pushed its holdings of US government debt down to their lowest level in nearly two decades, underscoring a steady recalibration of its foreign exchange reserves away from dollar assets and towards gold and overseas investments amid strained ties with Washington, PTI reported.Data released by the US Department of the Treasury shows that China’s…