News

  Bloomberg Flooding in China’s northern Hebei province has killed 105 people and led to direct losses of 15.4 billion yuan (US$2.3 billion) to the economy, the local government said on Saturday. About 307,300 people were evacuated and 104 are missing, according to a statement from Hebei’s government. Water supply in the provincial capital Shijiazhuang has been disrupted due to ...

  Bloomberg The yen fell, headed for a second weekly decline, amid speculation that further monetary stimulus to boost Japan’s struggling economy is now inevitable — whether or not it comes at next week central-bank meeting. The Bank of Japan’s next monetary policy statement is due July 29, though Mizuho Bank Ltd says officials may well refrain from cutting their ...

  AFP China said on Sunday it has started imposing anti-dumping tariffs on certain steel imports from the European Union, Japan and South Korea, as Beijing itself comes under fire for similar trade practices. Duties on the materials, used in power transformers and electric motors, will range from around 37 to as high as 46.3 percent, the commerce ministry said ...

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) participated in the second edition of the GCC-British Economic Forum, which took place on July 21. Organised by the Arab British Chamber of Commerce and hosted in London, the forum saw the attendance of senior Emirati and British officials, executives, decision-makers, investors and businesspersons. Held under the banner: ‘Vision, Challenges ...

  Emirates Business Etihad Airways and Arab Film Festival Australia are joining forces again in 2016 to bring the best of contemporary Arab cinema to Australian audiences. The 13th annual Arab Film Festival Australia opened last night in Sydney showcasing diverse films from Australia, Lebanon, Egypt, Iraq, Palestine and Syria. The festival program ranges from a powerful story of a ...

  DUBAI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), revealed RTA’s intention to launch an Integrated Mobility Platform in Dubai, enabling customers an easy access to all mass transit systems through a single window (smart app). In this transit hub, RTA’s multi-modal transit systems (metro, tram, buses, marine ...

  Dubai / Emirates Business The Awqaf and Minors Affairs Foundation (AMAF) received a donation of AED500,000 from Emirates Islamic Bank in support of the salma Humanitarian Relief programme that aims to distribute millions of halal meals to victims of conflicts and wars globally, and is implemented in cooperation with several national entities. Awatif Al Harmoodi, General Manager – Operational ...

  ABU DHABI / WAM Organisers of the Etisalat Award for Arabic Children’s Literature have called for applicants who are considering entering the prestigious award programme for this year to ensure that they don’t miss the submission deadline. Sponsored by Etisalat Group (Etisalat) and organised by the UAE Board on Books for Young people (UAEBBY), the award’s eighth edition is ...

  Abu Dhabi / Emirates Business The Ministry of Finance (MoF) reviewed the International Monetary Fund’s (IMF) Article IV Mission to the United Arab Emirates report, which evaluates the UAE’s economic performance in 2016. The Executive Board of the IMF discussed the report during its last meeting, praising the country for its UAE Vision 2021, government strategies and ability to ...

  Yerevan / WAM The United Arab Emirates and the Republic of Armenia signed in Yerevan an agreement for promotion and mutual protection of investments. The agreement was signed by Younis Haji Al Khouri, Under-secretary of the UAE’s Ministry of Finance and Garegin Melkonyan, Armenian Deputy Economy Minister, in presence of Artsvik Minasyan, Armenian Economy Minister and Dr Jassem Mohammed Al ...