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DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (Esma) the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out ...

ABU DHABI / WAM The Abu Dhabi Police has warned families against potential scam targeting children, teenagers and “unsuspecting” adults to illegally take their money through internet games, advertisements and social media forums. The scammers use various deceptive and lucrative methods to take advantage of their victims, posing as legitimate organisations or businesses. The police referred to recent cases, where ...

Dubai / WAM The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy received 1,404 consumer complaints on the e-commerce sector during May, which was 228% higher than the complaints received in the same period last year (428 complaints). Of the total complaints, 94% were submitted through the smart channels of Dubai Economy, with 64% via the ‘Dubai Consumer’ ...

Bloomberg A giant Glencore Plc coal project in Australia has been fast-tracked as the nation turns to its vast natural resources to lift the economy out of its first recession in almost three decades. The A$1.5 billion ($1 billion) Valeria mine in Queensland has been designated a “coordinated project”, which the state said would help to get new jobs happening ...

Bloomberg President Donald Trump addressed graduates of the US Military Academy at West Point on Saturday, even as the backlash to his threat to use active-duty service members to quell domestic political protests continues to roil the Pentagon. Trump’s appearance at the nation’s oldest service academy was meant to signal a return to normalcy after the coronavirus pandemic. Instead, it ...

Bloomberg US lawmakers proposed an estimated $25 billion in funding and tax credits to strengthen domestic semiconductor production and counter rising technological competition from China. The effort would support companies building plants in the US and buying chipmaking equipment, while sponsoring research and development into “cutting edge semiconductor” production, according to information provided by the office of Representative Michael McCaul, ...

Bloomberg The UK economy shrank a record 20.4% in April as businesses and workers reeled under the lockdown designed to control the coronavirus pandemic. The contraction means the nation has effectively seen almost 18 years of growth wiped out in two months. While a rebound is likely as businesses start to reopen, the grim figures will increase the pressure on ...

Bloomberg US consumer sentiment climbed in early June by the most since 2016 as more states began to reopen their economies and employers restored jobs. The University of Michigan’s preliminary sentiment index increased 6.6 points to 78.9, according to data. The median projection in a Bloomberg survey of economists called for a gain to 75. Even with the improvement, the ...

Dubai / WAM DP World has announced the completion of its acquisition of a 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. This follows satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities. This project will be DP World’s second partnership with TIS shareholders, the first being our very successful ...

DUBAI / WAM Emirates plans to operate four flights between Dubai and Cairo on June 14, 18, 19 and 21. Customers can also connect to these flights in Dubai from any destination on Emirates’ current network of 30 destinations in the GCC, Asia Pacific, Europe and the Americas. In a statement by the airline on Thursday, flights can be booked ...