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Bloomberg Germany is willing to offer the US concessions to stop President Donald Trump from slapping tariffs on European steel and aluminum, exposing a divide with France on how to avert a trade war. Germany is ready to discuss with the European Union in every respect measures to counter the US threat to impose tariffs, according to a government official ...

Abu Dhabi / WAM The Ministry of Economy said that the economic impact of the country’s investment in the technologies of the “Fourth Generation of the Industrial Revolution,” most notably artificial intelligence (AI) will not be restricted by cost, consumption, production and productivity, and will achieve major economic growth through smart investment in various sectors, based on many international studies ...

ABU DHABI / WAM Lt General Hamad Mohammed Thani Al Rumaithi, Chief of Staff of the Ar-med Forces, on Monday received Admiral Valter Girardelli, Chief of the Italian Navy, who is currently visiting the country. During the meeting, they discussed issues of mutual interest and ways of enhancing cooperation especially in the military, defence and maritime fields, as well as ...

ABU DHABI / WAM On the occasion of visit of South Korean President Moon Jae-in the UAE, Abu Dhabi National Oil Company (Adnoc) announced signing of two major contracts between Adnoc Refining and Samsung Engineering Co Ltd, worth a total value of over $3.5 billion. The signing of the agreements was witnessed by Dr Sultan bin Ahmad Sultan Al Jaber, ...

ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry and the Korean International Trade Alliance (KITA) on Monday signed a Memorandum of Understanding (MoU). The MoU was signed by Mohammed Hilal Al Muhairi, Director-General of Abu Dhabi Chamber, and Kim Young Ju, CEO of KITA. Al Muhairi said that KITA is a leading institution with thousands of ...

DUBAI / Reuters Private equity firm Abraaj Group is considering selling part of its investment management business as it seeks to stem the fallout from a dispute with investors in one of its funds, sources said. Dubai-based Abraaj is in early stage talks with several possible buyers, the sources said, with one source saying Abu Dhabi Financial Group was among ...

Abu Dhabi / WAM The total assets of UAE Central Bank rose to AED398.6 billion in twelve months until February 2018, up by more than AED33.78 billion. The assets were AED 364.82 billion in the same period of 2017, according to the Central Bank Bulletin. The Central Bank’s balance sheet went up by AED 7 billion in February, from a ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Moon Jae-in of South Korea visited the Barakah Nuclear Energy Plant in Al Dhafra Region to celebrate the successful completion of Unit 1 construction. During the ceremony, both leaders highlighted the importance ...

Dubai / WAM The Ministry of Education has signed a Memorandum of Understanding (MoU), with the Ministry of Commerce, Industry and Energy of South Korea, with the aim of promoting mutual academic cooperation related to microelectronics and semiconductors, which will promote the development of the UAE’s education system, support its leadership, and accelerate its development in science and technology. The ...

Dubai / Emirates Business The Board of Directors of the UAE Banks Federation (UBF) held its first meeting of the year on Monday, in Dubai, to discuss and review current initiatives and priorities for 2018. Presided over by HE Abdul Aziz Al Ghurair, Chairman of the UAE Banks Federation, the meeting discussed the latest developments in the banking sector and ...