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Ottawa / Bloomberg Finance Minister Bill Morneau said economic conditions will make it difficult for the new Liberal government to meet a campaign pledge to balance the budget by the end of its mandate. Morneau, speaking to reporters in Ottawa, said the government’s main objective is to bolster growth in the economy while seeking to balance the budget in the ...

Rio De Janeiro / Bloomberg Dilma Rousseff’s supporters are almost cheerful, missing no opportunity to proclaim that the political crisis that shook Brazil in 2015 and led to impeachment proceedings against the president has lost momentum. In private, they are worried. Their main concern is that an almost two-year probe into a scheme of kickbacks in return for political favors ...

New York / AFP Argentina has reached a deal to settle with a group of holders of eurobonds it defaulted on 15 years ago, a US court mediator in its debt battle said. Mediator Daniel Pollack announced that the country reached a deal in principle with the “Brecher Class” of “holdout” creditors, to repay them 100 percent of the principal ...

Ottawa / Bloomberg It’s been a dismal start to the year for Canada’s newspapers, and investors see little sign of a turnaround. Postmedia Network Canada Corp., owner of many of the country’s newspapers, announced in January it was merging newsrooms in cities where it has two papers, eliminating dozens of jobs. Torstar Corp., publisher of the country’s largest circulation paper, ...

DUBAI / Emirates Business Dubai Customs has effectively contributed to the growth of food trade by providing quality Customs facilities for this sector, and ensuring speedy customs clearance of all its shipments, in order to cater to the food needs of the community without unnecessary delays. Figures released by Dubai Customs, in parallel with Gulfood 2016; the world’s largest annual ...

ABU DHABI / Emirates Business Emirates Foundation, an independent philanthropic organisation set up by the Abu Dhabi Government to facilitate public-private partnerships for empowering youth across the UAE, and Abu Dhabi Islamic Bank (ADIB) have partnered in support of financial literacy through Emirates Foundation’s programme, ‘Esref Sah’, which aims to educate youth on ways to manage their current and future financial ...

Dubai / WAM A delegation from the University of Sharjah (UoS) recently visited the Roads and Transport Authority (RTA) in Dubai to review the best practices adopted in asset management starting from the stage of planning for the procurement of new assets and several other stages such as tracking, stocktaking, numbering and replacing of assets. Visitors also learnt about the ...

Dubai / WAM The price of Oman Crude Oil Financial Contract, DME Oman, for April delivery, closed at US$29 a barrel at Dubai Mercantile Exchange at 12:30 p.m., Dubai time. DME Oman crude oil is a benchmark for pricing crude oil by the countries that produce it, and it gives them a differential price that reflects the quality of the ...

Abu Dhabi / Emirates Business The Department of Economic Development (DED) Abu Dhabi, has stressed its commitment to implementing initiatives and projects that aim to improve cooperation and coordination with its strategic partners in the government, semi-government and private sector, to improve commercial licensing procedures and develop a more attractive investment environment in the Emirate of Abu Dhabi. The DED’s ...

Dubai / WAM Dubai International Airport (DXB) and Dubai World Central (DWC) have become the first airports in the GCC states to achieve Level 2 accreditation from the Airports Council International’s Airport Carbon Accreditation Programme. With Level 2 achieved, DXB and DWC are now in the list of 14 Level 2 accredited airports, representing more than 10 percent of the ...