Many of Europe’s politicians are far from impressed with the European Commission’s recent ruling against the proposed rail merger of Alstom SA and Siemens AG. Some are now calling for the EU to change its whole approach to competition policy. What they want instead is “industrial policy” — a strategy that dethrones competition as a goal and promotes European economic ...

It was with a sense of déjà vu that I read that US Treasury Secretary Steven Mnuchin has asked the Treasury Borrowing Advisory Committee to cobble some together ideas on new sorts of debt securities the government could create and sell to finance the rapidly expanding budget deficit. The implication is clear: The US needs to attract new investors to ...

Must a safer banking system inevitably be less dynamic? Judging from the experience of the US and Europe since the 2008 financial crisis, not necessarily. Bank executives typically portray efforts to shore up the financial system as a trade-off, in which greater resilience means less of something good. They often warn, for example, that requirements to increase capital buffers will ...

It’s time India’s policy makers acknowledged the real problem facing the country’s shadow banks. What they are experiencing is no longer a vanilla liquidity shortage; the entire industry has crashed against a wall of mistrust. On the other side of that wall are a clutch of wealthy property developers and their middle-class customers, as well as teeming multitudes of poor. ...

Dubai / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Monday launched the Dubai International Best Practices Centre (DIBPC) on the sidelines of the World Government Summit, being held at Madinat Jumeirah, Dubai. The Crown Prince of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al ...

Dubai / WAM The United Kingdom is seeking to grow the number of UK universities in the UAE as well as to learn from the UAE e-government programme model, according to Nadhim Zahawi, Member of Parliament and Minister Responsible for Special Education Needs in UK. “Education is a big export for us and big partnership with the UAE. There are ...

Abu Dhabi / WAM Effective July 1, Etihad Airways will operate the Airbus A380 on its daily service linking Abu Dhabi and Seoul. The South Korean capital’s Incheon airport now joins London Heathrow, Paris Charles de Gaulle, New York JFK and Sydney as a destination served by the airline’s award-winning aircraft. Robin Kamark, Chief Commercial Officer, Etihad Aviation Group, said, ...

Abu Dhabi / WAM At a time when oil is still a very important ingredient for the UAE economy, Dubai sets an example of “Service-driven” and “Tourism-driven” economy. Jose Angel Gurria Trevino, the Secretary-General of the Organisation for Economic Co-operation and Development, OECD, says “Dubai is now mostly service-driven; tourism-driven at the time oil is still a very important ingredient ...

Abu Dhabi / WAM Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), visited Abu Dhabi Future Energy Company (Masdar) to witness the progress of Abu Dhabi’s flagship sustainable urban community, Masdar City, and learn how investment in youth is helping the UAE to deliver on the UN Sustainable Development Goals. She also toured Khalifa University of Science ...

ABU DHABI / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (Adnoc), was honoured on Monday with the “International Lifetime Achievement Award” for his outstanding contribution to the global energy industry. The award was presented to him by Narendra Modi, Prime Minister of India, at the Petrotech energy ...