Huawei CFO was arrested, making matters worse for US/China ties. Nokia's new phone is launched in the UAE, as the company aims to strengthen its market share.
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00:00Forget about Christmas cheer and don't jingle those bells, at least if you're in the economics
00:06world.
00:07Why?
00:08Well, optimism about trade ties between the US and China just got even worse after the
00:12arrest of the chief financial officer of Huawei Technologies.
00:15US stock markets are falling as a result of the trade tensions between the US and China
00:20and European stocks as well as UAE stocks are following suit.
00:24In other news, US President Donald Trump has renewed his calls to OPEC not to cut their
00:27production levels as energy ministers meet in Vienna today.
00:31Major producers such as Russia and Saudi Arabia have already recommended production cuts.
00:36And finally, rejoice old-school Nokia fans!
00:38The company has just launched its latest phone, the Nokia 8.1 in Dubai as it aims to strengthen
00:43its market share.
00:45The Android smartphone has two rear cameras and one front camera.
00:49It's priced at 1,499 dirhams and will be available in the UAE from December 15th.
00:54That's all for now.
00:55Do check us out at gulfnews.com forward slash business.
00:58This has been the Daily Business Wrap.
00:59I've been Sara Dia.