News

  Bloomberg Canada’s Finance Minister is sticking by his pledge to lower the nation’s debt ratio, signaling the government won’t push much deeper into deficit when it delivers its budget this week. Bill Morneau said he remains committed to the notion a falling level of debt relative to the total size of the economy shows fiscal prudence. The country’s low ...

  Bloomberg European Central Bank Governing Council member Ignazio Visco said the central bank could step away from its commitment to keep interest rates low for a long time after quantitative easing stops. While the ECB’s current guidance foresees that borrowing costs will stay at current or lower levels “for an extended period” and won’t rise until “well past” the ...

  Bloomberg Meetup.com is taking a leap into the Trump resistance. The New York-based networking site will unveil plans in the coming days to partner with a labor group — under the guidance of a former Hillary Clinton aide — to coordinate protests among more than 120,000 activists already involved with anti-Trump Meetup groups. It’s a risky move for a ...

  Bloomberg The Financial Consumer Agency of Canada will review the business practices of the country’s banks after reports of tellers allegedly pressuring customers to buy products to meet sales goals. The federal agency, which seeks to ensure financial institutions comply with consumer-protection measures, said Wednesday its next review would begin in April and focus on banks’ practices around express ...

  ABU DHABI / WAM The value of shares bought by foreign traders at the UAE financial markets stood at AED21.8 billion in the first two months of 2017. This volatility reflects high frequency of entering of this investor category to the market compared to the same period in 2016. An Emirates News Agency (WAM) analysis shows that foreign purchases ...

  Astana / WAM The fourth session of the UAE-Kazakh Inter-Governmental Commission convened on Sunday in the Kazakh capital, Astana. The UAE delegation is led by Ahmed Abdul Rahman Al Jarman, Assistant Minister of Foreign Affairs and International Co-operation for Political Affairs, while the Kazakh side was led by Akylbek Kamaldinov, Deputy Minister for Foreign Affairs, in the presence of Dr. ...

  Dubai / WAM Department of Economic Development in Dubai (DED)and its three agencies Dubai SME, Dubai Trade and Exports, and Dubai Investment Development Agency (Dubai FDI), have adopted a new corporate identity in line with the mandate given to them to organise economic activity in the Emirate of Dubai. In addition to replacing the old name ‘Department of Economic Development’ ...

  Dubai / WAM The Roads and Transport Authority (RTA) in collaboration with the Dubai Police General HQ, Department of Economic Development (DED) and Dubai Municipality, endorsed several specifications for courier boxes carried by motorbikes for delivering various materials. The agreement follows a series of meetings based on their respective specialist fields with the ultimate objective of improving safety standards. The ...

  KALBA / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has offered condolences to the family of Emirati serviceman Zakaria Sulaiman Al Za’abi, who died while performing his national duty as part of the Saudi-led Arab Coalition’s “Operation Restoring Hope”, in Yemen. While visiting the ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) in collaboration with The Word Bank Group (WBG) organised a workshop on Sunday in Dubai on the importance of private-public sector partnerships and adopting performance-based contracts between the sectors. The workshop comes in line with the ministry’s strategy to benefit from international experiences and introduce the UAE’s government entities to the ...