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Modi unveils US$290mn hydro dam in Afghanistan

  Herat / Agencies Indian Prime Minister Narendra Modi visited Afghanistan on Saturday to inaugurate a $290 million hydroelectric dam with Afghan President Ashraf Ghani, the latest Indian investment which highlights strengthening ties between the two countries. The 42 megawatt Salma dam in western Herat province, bordering Iran, is one of two major projects carried out under India’s development partnership ...

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US vows ‘actions’ if China builds new South China Sea structures

  Singapore / AFP Chinese construction on a South China Sea islet claimed by the Philippines would prompt “actions being taken” by the United States and other nations, US Defense Secretary Ashton Carter warned on Saturday. Speaking at a security summit in Singapore, Carter said Beijing risks building a “Great Wall of self-isolation” with its military expansion in the contested ...

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Dubai Now is best govt mobile app of year

  Dubai / Emirates Business Dubai Now, Smart Dubai Government’s innovative app that features more than 50 smart services provided by 22 government entities, has won the ‘Best Government Mobile App of the Year’ category at the ‘.GOV Awards 2016’ held recently in Dubai. The award-winning app offers customers a set of service packages built to meet their needs and ...

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GMU admission sees scramble for seats

  Emirates Business Gulf Medical University (GMU) established in 1998, the most sought-after private medical university in the region located at Ajman, UAE recently announced that it had started inviting applications for the upcoming academic year. As soon as the announcement was made, the Admissions Department of GMU started receiving a flood of applications for the different medical courses conducted ...

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Brexit campaigner Gove denies ‘project lies’ claim

  Bloomberg Justice Secretary Michael Gove, one of the leaders of the campaign to get Britain out of the European Union, defended its assertions about the costs of membership as he was accused of running “Project Lies.” Appearing on a Sky News television special the night after Prime Minister David Cameron made the case for staying in the EU on ...

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German bonds seen outperforming with elections vexing investors

  Bloomberg German government bonds may gain next week along with the rest of the euro region’s core debt market as investors seek havens before unprecedented political events later this month. Britain’s referendum on its European Union membership and Spain’s repeat elections are approaching, and bonds from Germany, France and the Netherlands have been outperforming their peripheral peers in the ...

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Colombia’s economy grows at slowest pace since 2009 crisis

  Bloomberg Colombia’s economy grew at the slowest pace since 2009 in the first three months of the year as consumer confidence slumped and prices fell for the nation’s oil, coal and coffee. The weaker-than-expected result caused bond yields to drop as traders pared bets on further interest rate increases. Gross domestic product expanded 2.5 percent from the year earlier, ...

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Traders urge Fed to wait until December after job data stun

  Bloomberg For bond traders, the stalling U.S. job market means the Federal Reserve will probably lift interest rates just once this year, in December. The nation’s employers added workers at the slowest pace in almost six years in May, government data showed. The report fueled a surge in Treasuries, driving yields on two-year notes down the most since September ...

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War of words escalates as Clinton knocks Trump

  San Bernardino / AFP Hillary Clinton launched stinging criticism of Donald Trump, even suggesting her likely Republican presidential opponent wants to be America’s “dictator,” as she proclaimed she will be the Democratic flag bearer once California votes next week. President Barack Obama lent his voice to the denunciation, saying Trump’s aggressive posture towards immigrants, Muslims and women is “feeding ...

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UAE undergoes WTO trade policy review

  Geneva / WAM   The third review of the UAE’s trade policies and practices under the World Trade Organisation (WTO) began at the organisation’s office in Geneva and will last three days in the presence of fellow WTO member countries. The UAE delegation is headed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, in the presence of Ambassador ...

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