ABU DHABI / WAM Dr Ali Rashid Al Nuaimi, Chairman of the Defence, Interior and Foreign Affairs Committee of the Federal National Council (FNC), on Thursday received, at the headquarters of the FNC General Secretariat in Abu Dhabi, Alexander Schonfelder, ambassador of Germany to the UAE. The meeting was attended by members of the FNC Parliamentary Friendship Committee with European ...

ABU DHABI / WAM Abu Dhabi Department of Economic Development (Added) has signed a memorandum of understanding (MoU) with Abu Dhabi Islamic Bank (Adib) to jointly offer bank account opening procedures for investors and business licence owners issued by Added, facilitating business in Abu Dhabi. The collaboration between the two parties aim to simplify and expedite the process of opening ...

BLOOMBERG  Barclays Plc expects to increase its headcount in Paris by about two thirds in the next two to three years, as the French capital increasingly becomes the main trading hub in continental Europe for global lenders after Brexit. The London-based bank, which employs roughly 300 staff in Paris, believes it could generate enough business from the office to add ...

BLOOMBERG  The pace at which the Bank of England (BOE) shrinks its balance sheet is likely to accelerate, the deputy governor for markets told UK lawmakers. The BOE is currently unwinding about £20 billion (£25 billion) of quantitative easing (QE) every three months, both as assets mature and as they are actively sold. Dave Ramsden, deputy governor, said: “There’s the ...

BLOOMBERG The bid of Pita Limjaroenrat, leader of Thailand’s opposition group Move Forward, to form a coalition government hit a setback when a key political party said it won’t back a prime minister who wants to relax the law against criticising the monarchy. The Bhumjaithai Party, which came in third in the vote with about 70 seats in the 500-member ...

BLOOMBERG Rishi Sunak appeared to back down on his Conservative Party’s key 2019 election manifesto pledge to cut net migration, risking a fresh row with right-wing Tories disrupting his UK administration. The premier was asked three times by reporters travelling with him to the Group of Seven summit in Japan whether he stood by the promise to reduce the annual ...

BLOOMBERG Pakistan’s former premier Imran Khan has defied a deadline set by local officials to hand over supporters, as the political drama surrounding the opposition leader continues to escalate. Police remain outside his home in Punjab province, stoking concerns of a repeat of the violent clashes seen between his supporters and security forces. A provincial government minister claimed Khan was ...

BLOOMBERG US President Joe Biden and other Group of Seven (G-7) leaders began arriving in the Japanese city of Hiroshima for an annual summit, with concerns around China and Russia  — both uninvited — set to dominate discussions. The meeting, which runs through Sunday, comes as Russia launched fresh aerial assaults on Ukraine and Chinese President Xi Jinping attended a separate ...

BLOOMBERG  A Bank of America Corp (BofA) strategist says you shouldn’t be fooled by a seemingly bearish signal being flashed by the stocks in the S&P 500 Index. To the contrary, history shows it may even point to strong gains ahead. The 50-day moving average of the S&P 500 Equal Weight Index — a version of the benchmark that gives ...

BLOOMBERG  Markets turned higher after days of anxiety that an impasse in Washington would push the US into an unprecedented default, spurring bets that the world’s biggest economy can also skirt an economic slump. European stocks rose, following a rally on Wall Street, as hopes built for an eventual breakthrough in talks to raise the debt limit before coffers run ...