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ERC launches rehabilitation project at University of Aden

ABU DHABI / WAM The Emirates Red Crescent (ERC) has launched rehabilitation project at the University of Aden, Yemen, which includes maintenance work at five main housing buildings and their service facilities. Spread on an area of 59467 square metres, the housing complex can accommodate 1500 students from various governorates of Yemen as well as students from neighboring countries such ...

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Cameron takes on sceptics after EU ‘special status’ deal

London / AFP British Prime Minister David Cameron on Saturday embarked on a daunting challenge to persuade ministers in his own cabinet and the country at large to vote for Britain to stay in the European Union. Cameron will hold a cabinet meeting — the first on a Saturday since the Falklands War in 1982 — and will announce the ...

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Pro-‘Brexit’ British ministers show their colours straightaway

London / Bloomberg Six U.K. ministers signaled their intention to campaign for Britain to leave the European Union in June 23’s referendum by heading straight from a cabinet meeting to the headquarters of the Vote Leave campaign group. Justice Secretary Michael Gove, Work & Pensions Secretary Iain Duncan Smith and Chris Grayling, the leader of the House of Commons, were ...

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Luxury goods giant Richemont eyes up to 350 job cuts in Switzerland

Geneva / AFP Richemont, the world’s second-biggest luxury goods group, is planning to cut up to 350 jobs in Switzerland this year amid a “difficult” watch market, a Swiss newspaper reported Saturday. Richemont, second only to France’s LVMH in the luxury world, is “studying an adjustment of the production capacities of some watch manufacturers,” Le Temps daily reported, quoting an ...

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German airlines to set up med testing

Berlin / BLOOMBERG Germany will step up surprise tests for airline pilots to detect medications and drugs nearly a year after a Germanwings co-pilot suffering from depression deliberately crashed his plane, the SuddeutscheZeitung newspaper reported on Saturday. The Munich paper, citing a document which outlined a series of measures approved in Berlin Friday, reported that the new programme will come ...

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German bonds on best run in a year as traders await CPI data

Bloomberg With German government bonds on their longest winning streak in more than a year, investors are set to scour inflation data next week for clues as to whether the European Central Bank will provide more stimulus next month. A measure of euro-region inflation expectations stayed near a record low this week even as the central bank pledged it is ...

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Trump cautions of job losses

South Carolina / Bloomberg On the eve of South Carolina’s Republican primary, billionaire Donald Trump suggested that one of the state’s top employers could lose jobs if he isn’t elected president because, he claimed, no one else will be as good a negotiator with the Chinese. “Boeing is building massive plants in China,” he said at a rally in Myrtle ...

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Endorsements show Republican race’s redrawn battlelines

South Carolina / Bloomberg South Carolina Governor Nikki Haley shook up the Republican presidential race this week by endorsing Florida Senator Marco Rubio. But much of the endorsement action is back in Washington, where a Bloomberg Politics analysis illustrates Ted Cruz’s clear dominance with hard-core conservatives; the battle between Rubio and Jeb Bush for establishment support; and John Kasich’s potential ...

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World Bank sees modest economic drag from Zika

Bogota / AP The spread of Zika will have a modest drag on economies in Latin America, with tourism-dependent Caribbean nations most at risk, the World Bank said. It made $150 million immediately available to help fight the virus. The World Health Organization has declared a global health emergency in response to the Zika outbreak and the U.S. is urging ...

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Colombia declares rate rise, budget cut

Bloomberg Colombia became the second Latin American nation this week to raise interest rates, cut government spending and announce steps to shore up its currency as commodity prices tumble. A majority of the seven-member board voted to increase the policy rate a quarter point to 6.25 percent, bank Governor Jose Dario Uribe told reporters in Bogota after the meeting. The ...

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