ABU DHABI / WAM The United Arab Emirates, represented by the Ministry of Finance (MoF), is participating in the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which will be held in Washington from April 10-16. The UAE delegation is headed by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs. ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and the US Secretary of State Antony J Blinken, have reviewed the latest developments in the Middle East. This came in a phone call between the two ministers, during which the UAE’s top diplomat emphasised on the importance of stopping escalation between ...

ABU DHABI / WAM HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has become a global leader in humanitarian work, with its efforts to lend a helping hand sometimes continuing for days and months on end. In a statement ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, honoured the winners of the fourth edition of the Mohammed bin Rashid Medal for Scientific Distinction, which recognises accomplished scientists and researchers. The award ceremony, held at the Za’abeel Palace, was attended by His Highness Sheikh Maktoum ...

FUJAIRAH / WAM HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, has affirmed that the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was an icon of giving and humanitarianism, and a force for good that benefitted all of humanity. In a statement marking Zayed Humanitarian Work Day, Sheikh Hamad said that ...

BLOOMBERG  The Bank of England (BOE) Chief Economist Huw Pill said officials may need to raise interest rates even as inflation falls to prevent resurgence in prices caused by households and companies trying to claw back their lost income. Inflation is set to drop sharply from the current 10.4% level in the coming months due to lower energy prices and ...

BLOOMBERG  The US bank crisis that rattled global markets in March is probably nearing the end, even if more unforeseen failures occur, JPMorgan Chase & Co Chief Executive Officer (CEO) Jamie Dimon said. Only a handful of lenders have the problems that toppled Silicon Valley Bank, and when the industry starts reporting quarterly earnings, the numbers will probably be good, ...

BLOOMBERG  Sri Lanka’s foreign exchange reserves grew in March to the highest in over a year after the South Asian nation clinched a $3 billion International Monetary Fund (IMF) bailout. The stockpile increased to $2.69 billion from $2.22 billion in February, according to data released by the central bank on its website. The reserves include a swap facility from the People’s ...

ABU DHABI / WAM The 20th edition of the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex) will be held from August 23-29, sponsored by the Environment Agency — Abu Dhabi, the International Fund for Houbara Conservation (IFHC), and the Abu Dhabi National Exhibition Centre (Adnec), which is also the venue of the event. Raising awareness about the value of ...

SHARJAH / WAM United Arab Bank PJSC (UAB) has announced the successful issuance of its $150 million Additional Tier 1 (AT1) capital instrument which recently concluded through a private placement as per the general assembly approval.  This landmark issuance will strengthen the bank’s capital adequacy and boost its Tier 1 Capital ratio. Commenting on the transaction, Shirish Bhide, Chief Executive ...