Bloomberg Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of ...

Bloomberg Saudi Arabia will waive the fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue. In February, King Salman approved a ...

DUBAI / WAM UAE entities are expected to invest up to $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project that aims to secure the UAE’s food security, an Indian minister told Emirates News Agency (WAM). These entities, coordinated by Dubai-based Emaar Group, plan to invest up to $5 billion ...

Dubai / Emirates Business Emirates Flight Catering (EKFC), one of the world’s largest catering operations, has successfully commissioned a state-of-the-art solar power system across its premises, which is expected to deliver an annual reduction of 3 million kg of greenhouse gas emissions. This is part of EKFC’s continued investment in infrastructure to improve resource efficiency. EKFC’s latest initiative supports the ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the continued improvement and enhancement of government processes and procedures are critical to enhancing the lives of individuals and ensuring better opportunities for future generations. Governments should have a strong focus on outcomes and seek ...

Abu Dhabi / WAM The UAE announced its support of the ‘No Country Left Behind’ initiative, the General Civil Aviation Authority (GCAA), announced on Tuesday. In a statement the GCAA said that it signed a Memorandum of Understanding (MoU), with the International Civil Aviation Organisation (ICAO), along with the Aviation Implementation Assistance Partnership, to support the initiative, which aims for ...

Dubai / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (6) of 2019 pertaining to the joint ownership of real estate in Dubai. The new law applies to all major real estate development projects and jointly owned properties in Dubai, including ...

Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, on Tuesday inaugurated the Dubai Design Academy (DDA). Offering exclusive jewellery-design programme, the new academy will equip students with innovative design development training and practical experience of very latest Computer Aided Design (CAD), designing and manufacturing technology shaping the modern jewellery ...

ABU DHABI / WAM A high-level Chinese delegation from Shanghai Stock Exchange (SSE), headed by Fu Hao, Deputy Director-General of Global Business Development Committee and Managing Director of Global Business Development Department of SSE, visited the Abu Dhabi Securities Exchange (ADX). The aim of the visit is to deepen cooperation and explore partnership opportunities between the two stock markets. During ...

DUBAI / WAM Emirates Post, in cooperation with Mohammed bin Rashid Space Centre (MBRSC), has issued a series of commemorative stamps to celebrate the UAE Astronaut Programme, which will take the first Emirati astronaut Hazza Al Mansoori to the International Space Station (ISS), on September 25. The series of stamps are launched 55 years after the late Sheikh Rashid bin ...