Bloomberg A full-blown trade war could cost the global economy $470 billion, according to Bloomberg Economics. The US decision to slap tariffs on steel and aluminum may just be the beginning, with President Donald Trump warning of more levies and other economies promising to respond. Cecilia Malmstrom, the European Union’s trade chief, vowed on Monday to “stand up to bullies.” ...

Dubai / Reuters The United Arab Emirates central bank will next month launch a new way of setting Emirates Interbank Offered Rates (EIBOR), helping to make the system more accurate and transparent, a senior banking industry official told reporters on Monday. “We have taken benchmark banks to tell us what is the actual cost of deposit and the incremental cost ...

DUBAI / WAM Union Coop has announced decision to freeze the prices of about 50,000 commodities until 2018 end. This move is one of the many in line with the company’s ‘Consumer Happiness’ initiative, a move that focusses on raising consumer satisfaction. Khalid Humaid bin Diban Al Falasi, CEO of Union Coop, said, “This was a very well-planned move because ...