Signs that the global economy is recovering



From the long-running worldwide financial crisis to the recent showdown over the US government’s debt ceiling, global economics have offered little in the way of optimism for several years. But a more careful read of underlying trends offers some cautious cause for confidence.

Economic recovery is well underway in many parts of the world, especially in its larger economies. Reports of unexpectedly higher profits made by two global giants, meanwhile, also indicate a growing sense of sustained rehabilitation after years of stagnation.

Take Alcoa, the third largest producer of aluminium in the world. The company reported higher revenues in the third quarter of this year despite low metal prices. Growth in demand for aluminium is a result of improvements in the global markets, particularly in Europe and China. This is supported by the bullish outlook of the UAE’s own aluminium industry. Higher demand for the metal is often a positive indicator of recovery and is usually driven by growth in industries such as construction, car manufacturing, packaging and aerospace.

Profits reported by General Electric also offer encouraging signs. The US industrial giant’s most recent results showed modest earnings but its profits also exceeded Wall Street expectations. The company, now heavily involved in infrastructure building, does most of its business outside America. Orders were up 19 per cent globally.

While these two giants are based in the US, their performances are decent barometers of more general economic health and well-being.

A similar trend has been reported in the world’s second largest economy, China, where government spending boosted the economy by 7.8 per cent during this latest quarter. The success of China’s leaders in steering the economy away from a much feared hard landing prompts hopes the country will maintain its healthy appetite for commodities and energy supplies.

Almost all the other 10 largest economies in the world showed equivalent data. Japan and Brazil expect higher growth this coming year.

In India, a pick up in economic results has been noticeable since August.

All those factors point to important improvements in the underlying health of the global economy, improvements that may well deliver sustained, if slow, recovery after years in the doldrums.

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When: October 17 until November 10

Cost: Entry is free but some events require prior registration

Where: Various locations including National Theatre (Abu Dhabi), Abu Dhabi Cultural Center, Zayed University Promenade, Beach Rotana (Abu Dhabi), Vox Cinemas at Yas Mall, Sharjah Youth Center

What: The Korea Festival will feature art exhibitions, a B-boy dance show, a mini K-pop concert, traditional dance and music performances, food tastings, a beauty seminar, and more.

For more information: www.koreafestivaluae.com

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

SPEC SHEET: SAMSUNG GALAXY Z FLIP 4

Display: Main – 6.7" FHD Dynamic Amoled 2X, 2640 x 1080, 22:9, 425ppi, HDR10+, up to 120Hz; cover – 1.9" Super Amoled, 512 x 260, 302ppi

Processor: Qualcomm Snapdragon 8+ Gen 1, 4nm, octa-core; Adreno 730 GPU

Memory: 8GB

Capacity: 128/256/512GB

Platform: Android 12, One UI 4.1.1

Main camera: Dual 12MP ultra-wide (f/2.2) + 12MP wide (f/1.8), OIS, portrait, super slo-mo, hyperlapse

Video: 4K@30/60fps, full-HD@30/60fps, HD@30fps; slo-mo@240/960fps; HDR10+

Front camera: 10MP (f/2.4)

Battery: 3700mAh, 25W fast charging, 15W wireless charging, reverse wireless charging, 'all-day' life

Connectivity: 5G; Wi-Fi, Bluetooth 5.2, NFC (Samsung Pay)

I/O: USB-C

Cards: Nano-SIM + eSIM; no microSD slot

Colours: Bora purple, graphite, pink gold, blue; Bespoke Edition in select countries

In the box: Flip 4, USB-C-to-USB-C cable

Price: Dh3,799 / Dh3,999 / Dh4,449

MOTHER OF STRANGERS

Author: Suad Amiry
Publisher: Pantheon

Pages: 304
Available: Now

Dengue fever symptoms

High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash

THE FLASH

Director: Andy Muschietti
Stars: Sasha Calle, Ben Affleck, Ezra Miller
Rating: 3/5

At a glance

- 20,000 new jobs for Emiratis over three years

- Dh300 million set aside to train 18,000 jobseekers in new skills

- Managerial jobs in government restricted to Emiratis

- Emiratis to get priority for 160 types of job in private sector

- Portion of VAT revenues will fund more graduate programmes

- 8,000 Emirati graduates to do 6-12 month replacements in public or private sector on a Dh10,000 monthly wage - 40 per cent of which will be paid by government

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

UAE Team Emirates

Valerio Conti (ITA)
Alessandro Covi (ITA)
Joe Dombrowski (USA)
Davide Formolo (ITA)
Fernando Gaviria (COL)
Sebastian Molano (COL)
Maximiliano Richeze (ARG)
Diego Ulissi (ITAS)

RESULTS

5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m

Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)

5.30pm Handicap (PA) Dh70,000 (D) 1,600m

Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami

6pm Maiden (PA) Dh70,000 (D) 1,800m

Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash

6.30pm Handicap (PA) Dh70,000 (D) 1,800m

Winner Rajee, Fernando Jara, Majed Al Jahouri

7pm Conditions (PA) Dh80,000 (D) 1,800m

Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi

7.30pm Handicap (TB) Dh70,000 (D) 2,000m

Winner Pharoah King, Pat Dobbs, Doug Watson

8pm Conditions (PA) Dh85,000 (D) 2,000m

Winner Sauternes Al Maury, Dane O’Neill, Doug Watson

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5

Jawab Iteiqal
Director: Mohamed Sammy
Starring: Mohamed Ramadan, Ayad Nasaar, Mohamed Adel and Sabry Fawaz
2 stars

Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Specs

Power train: 4.0-litre twin-turbo V8 and synchronous electric motor
Max power: 800hp
Max torque: 950Nm
Transmission: Eight-speed auto
Battery: 25.7kWh lithium-ion
0-100km/h: 3.4sec
0-200km/h: 11.4sec
Top speed: 312km/h
Max electric-only range: 60km (claimed)
On sale: Q3
Price: From Dh1.2m (estimate)


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