ABU DHABI / WAM Abu Dhabi Global Market (ADGM) has announced that it joined R3 as a new member of its international consortium. ADGM is the first regulatory body in the Middle East and North Africa region to be part of the R3 consortium, comprising over 80 members from the world’s leading financial institutions and regulators. As a member, the ADGM …

DUBAI / Reuters UAE Exchange Group, a global remittance and foreign exchange business, aims to spend between $250 million and $300 million on acquisitions to build its global market share, its chief executive said. The group aims to increase its share of the $575 billion global remittance industry to more than 10 percent by 2020, from 6.75 percent currently, Promoth …

Abu Dhabi / Emirates Business The UAE participated in the first trade and investment dialogue between the Gulf Cooperation Council (GCC) and the European Union (EU), which concluded at the headquarters of the Council’s General Secretariat at Saudi Capital of Riyadh. The Ministry of Economy organized the UAE delegation which was headed by Mohammed Nasser Hamdan Al Zaabi, Director of …

Bloomberg Oman plans to sell $2 billion of Islamic bonds this month as it seeks to trim a large budget deficit caused by lower oil revenue, Finance Minister Darwish Al Balushi said. The crude exporter’s budget deficit will reach 12 percent of economic output this year and it will continue to narrow in the coming years, Al Balushi said in …

Bloomberg European governments preparing for a looming round of major summits with Donald Trump are resigned to the fact that they will just have to learn to deal with a US president whom they see as increasingly erratic. As Donald Trump’s White House struggles to extricate itself from an almost daily cycle of controversy, government officials in three European capitals …

Bloomberg President Donald Trump has decided not to immediately move the U.S. embassy in Israel to Jerusalem, a senior White House official said, violating a campaign promise but avoiding a provocation that could drive Palestinians away from peace talks. The official said the administration considers its discussions with both the Israeli government and the Palestinian Authority to be promising, with …

Bloomberg The International Court of Justice has ordered Pakistan to halt the execution of a former Indian naval officer pending a final decision in the proceedings. India took Pakistan to the court over the death sentence handed down to Kulbhushan Jadhav for alleged espionage and sabotage activities, in a case that has raised tensions between the nuclear-armed South Asian neighbors. …

Dubai / Emirates Business Emaar Turkey, the country-subsidiary of Emaar Properties PJSC, opened Emaar Square Mall, a world-class retail and leisure destination located in the heart of Emaar Square, an elegant master-planned development. With its architecture inspired by Ä°stanbul, one of the most beautiful cities in the world, Emaar Square Mall showcases some of the world’s leading retail, entertainment and …

Abu Dhabi / Emirates Business Etihad Airways, the national carrier of the UAE, has tasted success at the INSIGHTS Middle East Call Centre Awards. The annual competition is now in its 12th year and sets the regional benchmark for remote customer interaction success. The airline collected two prestigious awards at the ceremony held at The Crowne Plaza Hotel in Dubai. …

Dubai / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, is bringing its financial services to the doorsteps of its customers. Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, is introducing the Mobile Exchange facility for the employees of its corporate clients to withdraw salaries literally from anywhere. This new …