China's fragile property received yet another blow last month, as new home prices dropped for an eighth straight month in February. The latest data comes despite a slew of measures to shore up the sector, which is a key growth engine of China's economy. New home prices fell 0.3% compared to January.

New home prices drop for eighth straight month

China's weak economic recovery faces another setback. Profits of China's industrial firms fell 2.3% in 2023. That's the second straight year of declining profits due to sluggish demand.

Profits of top industrial firms fall 2.3% last year

German industrial production took a steeper plunge than anticipated in September, according to data released on Tuesday. According to Reuters, the federal statistics office reported a 1.

German industrial production plummets beyond forecasts, signalling economic headwinds ahead 

Despite fresh curbs to control the Covid-19 outbreak, China's industrial output grew at a surprisingly fast pace in October, from the same period a year ago retail sales growth also picked up.

World Business Watch: China: Retail sales in October rose 4.9%

On Monday, Dubai Ruler Mohammed bin Rashid Al-Maktoum announced the Emirates Development Bank is allocating 30 billion dirhams ($8.17 billion) to support companies regarded as a priority for the UAE economy.

UAE announces $8.2bn stimulus for industrial sector

The EU's powerful anti-trust sheriff, Margrethe Vestager, is set to veto the merger of the Siemens-Alstom rail businesses on Wednesday, in defiance of France and Germany.

EU's anti-trust chief to veto rail merger in defiance of France, Germany

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