ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation lifted the ban on Emirati citizens travelling to Lebanon, with effect from Wednesday. Khalid Balhoul, Ministry’s Under-Secretary, said the decision came following an extensive follow up by Ministry to border security and after obtaining related guarantees from Lebanese government. “The decision to lift the travel ban emanates from …

GENEVA / WAM The Emirate of Dubai, represented by the Dubai Investment Development Agency (DUBAI FDI), been elected for the Presidency of the World Association of Investment Promotion Agencies (Waipa). Dubai FDI will be the president of the new Steering Committee that will lead the global FDI body from 2019 to 2021, reflecting the confidence of the international community in …

Bloomberg Kristalina Georgieva, in her first major address as head of the International Monetary Fund (IMF), painted a downbeat picture of the world economy and said a more severe slowdown could require governments to coordinate fiscal-stimulus measures. In a speech that sets the tone for next week’s annual meeting of the IMF, Georgieva said the fund will cut its growth …

Bloomberg Oil fell again, erasing earlier gains, as economic tensions between the US and China flared ahead of talks aimed at resolving their long-running trade feud. Futures in New York slipped as much as 1.7% following news that the White House is considering plans to potentially limit capital flows into China, while Beijing signaled it would retaliate after the Trump …

Bloomberg Bankrupt utility owner PG&E Corp. issued an unprecedented warning that it may cut power in almost 30 California counties to avoid wildfires as hot, arid winds leave region dry as a tinderbox. The move may affect more than 600,000 customers across Northern and Central California, including Santa Clara, San Mateo, Napa and Alameda counties, according to a statement on …

Bloomberg Deutsche Bank AG intends to make about half its planned 18,000 job cuts in Germany as it relies on savings at the retail units to lower costs, according to people familiar with the matter. The lender employed about 41,700 people in its home market at the end of last year, out of a total of 91,700. Outside Germany, London …

Bloomberg Bank of Montreal is gunning for the US investment-bank business that’s being surrendered by European firms like Deutsche Bank and Societe Generale. The Canadian lender expects to reach its goal of being a “Top 10” North American investment bank “dramatically” ahead of its five-year deadline, Dan Barclay, chief executive officer and group head of BMO Capital Markets, said in …

Bloomberg Wirecard AG raised its long-term forecasts, saying it expects operating profit to climb to more than 3.8 billion euros ($4.2 billion) in 2025 on growth in online payments and partnerships with the likes of SoftBank Group Corp. That’s a boost of about 15% from a previous prediction for earnings before interest, taxes, depreciation and amortisation. Yet investors weren’t fully …

Bloomberg Dealers on Tuesday took less than the full amount of cash available at the Federal Reserve Bank of New York’s two repurchase agreement operations, suggesting their liquidity needs are being met. The New York Fed took $38.85 billion of securities in its 14-day term repurchase agreement operation, less than the $45 billion on offer. It was the first of …

Bloomberg The pound tumbled to a one-month low after UK Prime Minister Boris Johnson told German Chancellor Angela Merkel a Brexit deal is impossible under terms the EU demands. Dimming prospects of an accord between Britain and the EU sent sterling sliding against all of its major peers. Further souring the mood, European Council President Donald Tusk accused Johnson of …