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  Bloomberg World Bank President Jim Yong Kim said continued uncertainty following the U.K.’s vote to leave the European Union could hurt global growth. “We actually thought the U.S. was solid, the euro zone seemed to be getting better, even Japan seemed to be doing a little bit better,” Kim told Bloomberg Television on Sunday on the sidelines of the ...

  Chengdu / AFP Britain could unleash a government stimulus package this autumn to counter the negative effects of its vote to leave the European Union, its finance minister said Sunday. “We have the option of a fiscal response, and we will do that on our normal timetable around the autumn statement,” Philip Hammond told reporters on the sidelines of ...

  Bloomberg Canada is keen to maintain a strong trade relationship with the U.K. after the country voted to leave the EU, Finance Minister Bill Morneau said. Morneau, speaking to reporters on a conference call after a meeting of Group of 20 officials in China, said he had a “positive discussion” with U.K. Chancellor of the Exchequer Philip Hammond on ...

  Bloomberg Hershey Trust Co., the $12 billion charity that controls the Hershey chocolate company, reached a tentative agreement with the Pennsylvania attorney general, a move that would reform the governance practices of the controversial organization. “We have reached an agreement in principle and are working on the final details in productive discussions with the office of the attorney general,” ...

  Brussels / AFP The EU should suspend structural funds to Spain and Portugal after they failed to rein in their debt, according to a letter from the European Commission seen by AFP on Saturday. Eurozone finance ministers agreed this month to impose unprecedented sanctions against Spain & Portugal for overstepping the bloc’s budget deficit limits. The penalties would be ...

  Bloomberg Bearish bets against Mobileye NV are receding after the maker of chips and software for driverless cars said it would team up with BMW AG and Intel Corp. to deliver fully-autonomous cars by 2021. Traders cut short interest on Mobileye, at one point the world’s most-shorted software stock, to 17 percent of shares outstanding last week, near the ...

  RITIKA SHARMA / Emirates Business As the UAE takes strides towards promoting environment initiatives, companies in the country are also leading the eco-march by example. In a recent and much-talked-about event, when UAE-based hotels chain ‘TIME Hotels’ grabbed the prestigious Green Key Award, the message went out loud and clear — that UAE is committed to the best when ...

  RITIKA SHARMA / Emirates Business A testimony to the rising popularity and acceptance of digital banking in UAE, a recent report affirms that use of online apps is on a rise in the country. Banking and finance apps usage has more than doubled in recent years, putting a full stop to all speculations about approval of technology in bank ...

  Emirates Business MBLM, the Brand Intimacy Agency focused on strategy, design, creative and technology, announced today the launch of its ‘I Drink Local’ mobile app for the iPhone and Android. I Drink Local is an MBLM initiative created to promote the consumption of local water for a more sustainable environment and reduction of our carbon footprint. The new app ...

  ALKESH SHARMA / Emirates Business As reports predict that whopping revenue of US$2 trillion will be generated through digital payments globally by 2020, experts also press for the need of having secure networks for the companies to ensure there is no cyber money heist. Industry veterans say that with astonishing rise in the users of digital payment platforms, these ...