Uncategorized

  Panama City, Panama / AFP With its capacity boosted by nearly three times, Panama’s enlarged canal — set to be inaugurated on Sunday — is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal. “A good deal of the commerce between Asia and the east coast of the United States can ...

  Beijing / Bloomberg Japan’s $1.3 trillion Government Pension Investment Fund (GPIF) is suing Toshiba Corp. for losses on its investments after an accounting scandal sent the conglomerate’s shares plunging. GPIF is seeking damages of about 900 million yen ($8.6 million), said Shinichirou Mori, a spokesman for the fund. The losses relate to shares bought by GPIF’s external fund managers in ...

  Bloomberg The European Central Bank reinstated a waiver on Greek debt, allowing the nation’s banks more access to cheaper refinancing lines but stopping short of including such bonds in quantitative easing for now. The ECB “decided to reinstate the waiver affecting the eligibility of marketable debt instruments issued or fully guaranteed by the Hellenic Republic,” the institution said in ...

  Washington / AFP US Democrats failed to force Congress to vote on gun safety legislation following the Orlando nightclub massacre as Republican leaders adjourned the House early on Thursday after a dramatic overnight sit-in by Democrats. The scenes on the House floor, unprecedented in recent history, began after Democrats took over the chamber’s proceedings for most of the day, ...

  Abu Dhabi / WAM Tadweer celebrated its 5-day long Occupational Environment, Health & Safety (OEHS), Week for 2016. With its two strategic partners, the initiative is aimed at promoting a culture of occupational environment, safety and health for its employees, contractors and community. The Universal Hospital conducted various health and well-being initiatives and National Trading and Pharmaceuticals (NTPE) organised activities ...

  Dubai / Emirates Business To strengthen cooperation in the field of training and mutual recognition of qualifications between the United Arab Emirates and South Korea, NQA received a Korean delegation from Seoul National University and the Korean Institute of Vocational Education and Training (KRIVET), the national institute for research technical and vocational training, studies and qualifications frameworks’ within the ...

  Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Free Zone (DFZ) Council, chaired the third council meeting held at the Emirates Office Tower. The session highlighted UAE’s responsibility in seeing through to completion the international agreements signed on the prevention of double taxation. The Council also explored suitable solutions for increasing the ...

  Abu Dhabi / Emirates Business Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, has announced Carrefour as the Hypermarket operator in the US$ 1 billion project located on Abu Dhabi’s master planned development Reem Island. Carrefour, operated by Majid Al Futtaim Retail, the retail arm of Majid Al Futtaim, the leading shopping mall, retail ...

  Bloomberg Britain’s referendum on EU membership entered its final day of campaigning with opinion polls and financial markets at odds about the likely outcome. Money has piled into bets on “Remain” winning over the past week. The pound has surged to a five-month high and an index of betting flows compiled by Oddschecker shows the chance of Brexit has ...

  ARSAL, Lebanon / ap In a remote corner of Lebanon near the border with Syria, Lebanese troops have been quietly making steady progress, fighting against extremists holed up in the rugged mountains. It is a fight less visible than the US-led war against the IS group in Syria, Iraq and Libya. But hardly a day passes without army artillery ...