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  Bloomberg The World Bank cut its outlook for global growth as business spending sags in advanced economies including the U.S., while commodity exporters in emerging markets struggle to adjust to low prices. World gross domestic product will grow by 2.4 percent this year, an “insipid” pace that’s unchanged from 2015 and down from the 2.9 percent estimated in January, ...

  Seoul / Bloomberg South Korea will bolster capital at policy banks through a fund to support restructuring of the nation’s shipping and shipbuilding industries, the government said on Wednesday. The plan is for the government and the Bank of Korea to create an 11 trillion won fund ($9.5 billion) to make sure state lenders can withstand losses as they ...

  Bloomberg The European Central Bank started buying corporate bonds on Wednesday, according to people familiar with the matter. Purchases included €3 million ($3.4 million) of bonds sold by French utility Engie SA, along with 10-year notes from Telefonica SA, Spain’s biggest telecommunications company, and securities sold by Assicurazioni Generali SpA, Italy’s biggest insurer, said the people, who aren’t authorized ...

  Washington / AFP Whether or not Britons vote this month to quit the European Union, fellow voters across the continent are increasingly sceptical of the benefits of staying in the bloc. A Pew Research Center survey published on Tuesday suggests the June 23 Brexit referendum will be close, with 48 percent of British voters polled unfavorable to Europe and ...

  Istanbul / AFP A bomb ripped through a Turkish police bus near Istanbul’s historic centreon Tuesday, killing seven officers and four civilians in the latest of a string of attacks in Turkey’s biggest city. The car bomb targeted a bus carrying anti-riot police as it was passing through the central Beyazit district close to many of the city’s top tourist ...

  ALKESH SHARMA / Emirates Business UAE’s commercial fit-out sector — which is the leading the market in the entire GCC region — is bombarded with bespoke designs that meet the discerning requirements of millennial generation. New trends have marked an end to the cubical structures donning the office corridors, and open spaces that allow free access of ideas, communications ...

  Dubai / WAM The Telecommunications Regulatory Authority’s (TRA), Computer Emergency Readiness Team, aeCERT, and the Dubai Financial Services Authority (DFSA) have signed an agreement to jointly promote information security at the DFSA and provide companies with measures to avert all forms of attacks in cyberspace. TRA will provide guidance, education and awareness about online threats, as well as assist ...

  ALKESH SHARMA / Emirates Business Moving at a fast pace towards ensuring food security and long-term sustainability in the farm industry, UAE has taken firm strides towards organic farming. This smart switch from the traditional farming practices to organic way of cultivating is being seen as a move aimed towards devising solutions to adversities including harsh climatic conditions, saline ...

  RITIKA SHARMA / Emirates Business From tourism to education and health to bio-diversity, UAE has made considerable strides in diversifying its economic prospects. Medical tourism is one such sector that is helping UAE to add to its highly regarded image of being a shopping or luxury holiday destination. Medical tourism has considerably added to the overall tourism sector of ...

  Warsaw / AFP Troops hit the ground in Poland on Tuesday as Warsaw kicked off its largest-ever joint military exercises with its NATO allies, aimed at shoring up regional security amid the West’s worst standoff with Russia since the end of the Cold War. The two-week long Anaconda manoeuvres are aimed at “checking the alliance’s ability to defend its ...