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US consumer spending hits 5-month high

Bloomberg US consumer spending rose in April by the most in five months and inflation held at the Federal Reserve’s target, adding to signs of solid economic growth that support the central bank’s plan for gradual interest-rate hikes. Purchases, which account for about 70 percent of the economy, increased 0.6 percent from the prior month, topping forecasts, after a 0.5 ...

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FAB picks Paul Hartwell as CEO for UK operations

ABU DHABI / WAM First Abu Dhabi Bank (FAB) appointed Paul Hartwell as Chief Executive Officer (CEO) of the bank’s operations in the United Kingdom, subject to regulatory approvals. Paul Hartwell joins FAB with over 30 years of experience in corporate banking, operations and risk. Most recently, he was the CEO of British Arab Commercial Bank. Abdulhamid Saeed, Group CEO ...

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All trade progress is off if US slaps tariffs: China

Bloomberg All commitments made so far in talks with the US over trade will be withdrawn if President Donald Trump carries out his threat to impose tariffs, China said. While both sides reported some progress in discussions this weekend about how to reduce China’s $375 billion goods-trade surplus with the US, Trump’s revival last week of a plan to slap ...

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Etihad to launch new service to Barcelona in November

ABU DHABI / WAM Etihad Airways has announced the introduction of a new scheduled service linking Abu Dhabi, and Barcelona, effective from November 21. The route will initially be operated five times a week by a two-class Airbus A330-200 before becoming a daily operation from March 31, 2019. Barcelona will become the second city in Spain served by Etihad Airways, ...

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Tawazun signs deal to foster tech-savvy Emirati workforce

ABU DHABI / WAM Tawazun Economic Council and Abu Dhabi Polytechnic, which is managed by the Institute of Applied Technology, have signed a five-year Memorandum of Understanding, with the aim of enhancing cooperation in training and developing the skills of Emirati youth in technical and technological fields. The MoU was signed in Abu Dhabi by Matar Ali Al Romaithi, Chief ...

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Mashreq launches Poynt smart payment terminals for merchants

DUBAI / WAM Mashreq Bank, in collaboration with Waypoint Systems FZCO, announced the launch of Poynt Smart Terminals in the United Arab Emirates. The launch marks the UAE’s leading financial institution’s inaugural introduction of smart payment terminals to merchants in the region. The Poynt Smart Terminal offers an exciting range of features for retailers; it is equipped to accept a ...

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Sheikh Zayed: An icon of global humanitarian work

ABU DHABI / WAM On Monday, the UAE will celebrate the annual Zayed Humanitarian Work Day on 19th Ramadan, which will coincide with the anniversary of the death of the late Sheikh Zayed bin Sultan Al Nahyan. This year’s celebrations will witness the launch of important humanitarian and charity initiatives, through thousands of government and community events organised by public, ...

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ADM inspects construction sites in latest campaign

Abu Dhabi / WAM The Abu Dhabi City Municipality (ADM) has called upon contractors and consultants to take all preventive measures and abide by the Environment, Health and Safety (EHS), standards in order to maintain the safety of employees, protect their lives and eliminate potential hazards at the workplace. The municipality recently inspected several areas on Abu Dhabi Island, Al Reem ...

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Adnoc to support 1mn people in UAE during Ramadan

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday announced that it expanded its annual Ramadan activities, committing to provide more than one million community members with food, water and power, helping to enhance Muslims’ lives during the Holy Month of Ramadan, across the UAE, on the occasion of the Zayed Humanitarian Day. Adnoc’s Ramadan programme ...

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