Uncategorized

  Bloomberg Policy makers should move beyond short-term budget and inflation targets that leave their economies exposed to longer-term debt bubbles like the ones hindering growth since the 2008 financial crisis, Bank of Canada Governor Stephen Poloz said. Central banks with inflation targets like Canada’s are finding that the benefits gained from short-term stability can create dangers in the background ...

  Bloomberg Brazil’s market for distressed consumer and small-business debt will increase about 9 percent this year as the nation’s worst recession in a century drives banks to sell assets, according to estimates by one of the biggest investors in the securities. Banks will unload portfolios of non-performing loans with a face value of about 25 billion reais ($7 billion) ...

  BAGHDAD/ AP In March, a senior commander with the IS group was driving through northern Syria on orders to lead militants in the fighting there when a drone blasted his vehicle to oblivion. The killing of Abu Hayjaa Al Tunsi, a Tunisian extremist, sparked a panicked hunt within the group’s ranks for spies who could have tipped off the ...

  Sharjah / WAM Since its establishment of American University of Sharjah (AUS) has been envisaged as an institution of excellence designed to meet the present and future needs of society, said His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member, Ruler of Sharjah, and President of AUS, at the AUS Spring 2016 graduation ceremony held on Saturday ...

  Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (ENEC) announced on Saturday the initiation of the formation of its operating subsidiary, Nawah Energy Company. A wholly-owned ENEC subsidiary, Nawah has been mandated to safely operate and maintain Units 1 to 4 in Barakah in adherence to the highest standards of safety, security, quality, and to the UAE’s commitment of ...

  St Petersburg / WAM Russia’s Minister of Foreign Affairs Sergey Lavrov received Dr Amal Abdullah Al Qubaisi, Speaker of the Federal National Council (FNC) and her accompanying delegation, at the ministry. The UAE delegation is currently on a visit to Russia. They discussed cooperation and the existing partnership between the UAE and Russia, which has been witnessing notable development ...

  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 ...

  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 ...

  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 ...

  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 ...