Daily brief: Driverless cars in Dubai, oil stable but market remains bloated
Tesla driverless car, Model S, was filmed on the roads of Dubai, signalling the arrival of such futuristic cars to the emirate. Here are the top seven business stories you need to know today.
Islamic finance body drafts new standard for centralised sharia boards
A global body for Islamic finance has issued a draft standard on centralized sharia boards, aiming to improve corporate governance in the industry and increase the consumer appeal of sharia-compliant financial products.
Political risks weigh on euro, yen gains: Forex
The euro fell another third of a per cent against the dollar on Wednesday, as concerns around a resurgence in political risk to the single currency project drove its worst run of daily losses in almost two months.
Turkey’s central bank seen staying difficult course until inflation peaks
Turkey’s central bank will stick with unorthodox measures to keep borrowing costs at five-year highs at least until inflation peaks this year, according to people familiar with its thinking, despite sharp criticism from investors.
Oil stable after drop in US gasoline stocks, but market remains bloated
Oil prices stabilised on Thursday, boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remained under pressure.
Dollar down as US Treasury yields fall: Forex
The dollar fell on Wednesday after two days of gains, pressured by the decline in US Treasury yields as investors have priced out a March rate hike by the Federal Reserve amid uncertainty about President Donald Trump’s economic policies.
Driverless Tesla car hits Dubai roads
The Dubai Media Office tweeted a video of driverless Tesla Model S on Dubai roads. Elon Musk, co-founder and CEO of Tesla, was earlier announced to attend an announcement being made in the emirate of Dubai on Monday, February 13.
Global market environment positive but Air Arabia may slump on loss
Gulf stock markets may generally have a firm tone on Thursday because of a positive global environment, but Air Arabia may slump after reporting a surprise loss for the fourth quarter.