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Bloomberg Lebanon is at risk of “implosion” unless it develops a new governance model that’s more transparent than today’s system, according to the World Bank. “Politicians need to stop and listen,” Ferid Belhaj, the World Bank’s most senior official for the Middle East and North Africa, said in an interview. “You cannot continue doing what you’ve been doing for years …

DUBAI / WAM The UAE has strengthened its regional and international leadership in women’s empowerment, and is harnessing their potential to serve this purpose, as well as drafting frameworks and mechanisms to ensure gender balance, said Mohammed Jalal Al Raisi, Executive Director of the Emirates News Agency (WAM). “The UAE’s related efforts has made women’s empowerment a reality and has …

Dubai / WAM Ivanka Trump, Advisor to the President of the United States of America on Saturday said that the United Arab Emirates is taking bold leadership in advancing women’s empowerment in the region and expressed the hope that other countries will join the UAE in advancing the active participation of women is various spheres. “The United Arab Emirates is …

Bloomberg The US said it will increase the tariff rate imposed on aircraft imported from the European Union (EU) to 15% from 10% on March 18. The move is part of a long-running spat in which the US has sought to penalise the EU for offering illegal subsidies to Airbus SE that harmed American aircraft maker Boeing Co. The US Trade …

HADRAMAUT / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 600 food parcels weighing 48 tonnes to the residents of Hadramaut Governorate, benefitting 3,000 people who are members of vulnerable Yemeni families in Al-Reida and Qusayr districts. The beneficiaries thanked the UAE’s leadership, government and people for their support and humanitarian gesture. Since the beginning …

SHARJAH / WAM The Sharjah Economic Development Department (SEDD), in a strategic partnership with the Ministry of Energy and Industry (MOEI), will host the UAE-Russian Business Forum, on February 19. The forum aims to enhance and strengthen ties of trade, economic and investment cooperation between UAE, in general, and Sharjah, in particular, and the Federal Republic of Russia, and open …

Bloomberg South Korea’s Foreign Minister Kang Kyung-wha said Japan should take faster measures to lift export curbs on key semiconductor components. Japan should carry out “more visible and sincere steps” to remove the restrictions of such shipments to South Korea, Kang told her Japanese counterpart Toshimitsu Motegi at a meeting on the sidelines of the Munich Security Conference. Japan removed …

Bloomberg Oil clinched the best weekly gain for the year on signs the worst economic impacts of lethal viral outbreak have been accounted for, easing concern about free-falling demand for crude. Futures advanced 1.2% in New York, settling above $52 for the first time this month. Investor confidence was lifted after China reassured the international community that a huge spike …

ABU DHABI / WAM Endowed with abundant cultural resources and a large-scale economy, the UAE will act as a bridge to promote Korean culture to other Middle Eastern countries, according to a top South Korean official. “The UAE is Korea’s first ‘Cultural Dialogue’ partner country in Mideeast and has shown an active interest in Korean culture,” wrote Park Yang-woo, Minister …

Bloomberg Oil extended its rebound above $50 a barrel as tentative signs that Asia’s coronavirus may be easing spurred speculation that the worst of crude’s sell-off could have passed. US futures rallied 2.2% in a second daily gain, having lost about 16% during preceding month amid fears the disease would slash fuel consumption in China. The latest data from the …