Bloomberg JPMorgan Chase & Co. is opening its first retail branches in the Philadelphia area as part of a broader plan to bolster the consumer bank by expanding into more than a dozen new markets over five years. The largest US bank by assets is planning to open about 50 branches and hire 300 people in Philadelphia, Delaware and Southern ...

Bloomberg The White House’s latest pick for the Federal Reserve Board was deliberately chosen for her financial stability expertise and knowledge of the Fed system to round out a board of monetary policy experts and Wall-Street savvy lawyers. President Donald Trump plans to nominate Nellie Liang, a Ph.D. economist who ran the Fed’s financial stability unit until her retirement last ...

Bloomberg Morgan Stanley’s highest ranking women are flying to New York this week from around the world to solve a gnawing problem: There aren’t enough of them. The bank, looking to support the advancement of women to its top echelons, is hosting a summit in Manhattan on Wednesday and on Thursday for about 350 who are already managing directors at ...

Abu Dhabi / WAM The UAE has created, through its support for relevant United Nations agencies and organisations, a unique model of serving the UN’s goals and its efforts to promote diplomatic action, through specialist Emirati agencies and organisations. During its participation in the 73rd session of the UN General Assembly, the UAE confirmed its support for UN and highlighted ...

ABU DHABI / WAM The Industrial Producer Price Index related to manufacturing in Abu Dhabi rose by 80.6% during second quarter 2018, a 13.4% increase compared to 71% during the same period in 2017, according to statistics issued on Tuesday by Abu Dhabi Statistics Centre, which also highlighted a 4.2% increase in the index compared to the first quarter of ...

HADRAMAUT / WAM The Emirates Red Crescent (ERC), continues to provide relief aid to eligible households in Al-Reida and Qusayr districts of the Hadramaut governorate. Teams from the UAE’s premier aid arm have recently distributed 1,000 food baskets containing basic necessities to some 5,000 individuals in Qusayr. Since the beginning of 2018, marked as the ‘Year of Zayed’, more than ...

Bloomberg India and Pakistan’s bitter rivalry is costing them $35 billion worth of annual trade, the World Bank said in a report. Someone might want to tell the two countries’ leaders — both of whom want to boost trade to battle widespread poverty. The World Bank called for South Asia, the world’s least economically-integrated region, to start cooperating instead of ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), has announced the signing of a strategic new Memorandum of Understanding (MoU), with Abu Dhabi Smart Solutions and Services Authority (Adsssa). The new partnership is aimed at exploring innovative initiatives and projects that can greatly contribute towards the development of the financial freezone on Al Maryah Island and reinforce efforts to ...

Dubai / WAM Nakheel awarded a contract worth AED35 million ($9.5 million) for the construction of a sports, health and leisure hub at Dubai’s Jumeirah Park community. Featuring an Olympic-size swimming pool, one of Dubai’s biggest gyms, a Clubhouse, spa and medical centre, the new destination will combine first-class sports facilities with a range of restaurants, cafes, shops and services ...

DUBAI / WAM The Telecommunication Regulatory Authority (TRA) and Cisco have signed a Memorandum of Understanding (MoU), to accelerate digital adoption and boost cooperation for the UAE’s digital future. The MoU is a key addition to Cisco’s Country Digital Acceleration (CDA), programme in the UAE, which aims at building and enhancing a strategic relationship with national leadership, industry, and academia ...