Bloomberg The International Monetary Fund (IMF) cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of ...

DUBAI / WAM The UAE is ranked 1st regionally and 19th globally in the 2019 Global Talent Competitiveness Index report, published by Paris-based grad- uate business school Insead. For the fourth straight time, the UAE came ahead of Mena countries in the report — a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing ...

Bloomberg Oil steadied near a two-month high in New York amid a pullback in US drilling activity, while ongoing US-China trade talks left an uncertain outlook for demand. Futures rose 0.3 percent after surging 3.3 percent. The number of rigs drilling for oil in the US fell to the lowest since May, according to Baker Hughes data. China and America, ...

Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd announced that it continues to make strong progress in building its managed aircraft portfolio. In 2018, DAE concluded transactions adding 19 aircraft to the portfolio valued at over $500 million, taking DAE’s total managed fleet to 54 aircraft. DAE is growing its managed portfolio both through sales of assets targeted for ...

DUBAI / Emirates Business Al Etihad Credit Bureau (AECB), the UAE’s federal credit bureau, and Visa, the world’s leader in digital payments, signed a memorandum of understanding (MoU) to promote responsible money management among consumers in the UAE. The agreement was signed by Marwan Lutfi, CEO, Al Etihad Credit Bureau, and Marcello Baricordi, General Manager of Mena, Visa. The organisations ...

Hatta / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ordered concerned government entities to speed up the execution of projects related to Hatta’s comprehensive development plan, that seeks to turn the city into a key touristic and investment hub that offers all requirements for decent life to ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as the Ruler of Abu Dhabi, issued an Emiri Decree restructuring the Abu Dhabi Executive Council, under the chairmanship of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The Decree ...

Abu Dhabi / WAM The importance of ensuring Houthi militias’ full compliance with the UN-sponsored Sweden agreement was the crux of the meeting Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, had with the envoy of the Kingdom of Sweden to Yemen and Libya, Peter Semneby. During the meeting, which was held at the premises of the ...

Abu Dhabi / WAM Prospects of cooperation in promoting investment and trade exchanges between the UAE and Australia were reviewed by Undersecretary of Ministry of Economy for Foreign Trade, Abdullah Al Saleh, and Australian Minister for Trade, Tourism and Investment, Simon Birmingham. At the meeting, which was held at the Ministry’s premises in Dubai, the two sides addressed e-commerce challenges, ...

HADRAMAUT / WAM The Emirates Red Crescent (ERC), on Monday delivered an electric generator to Thamud Directorate in Hadramaut, Yemen, to support the energy sector and solve the power outage crisis for residents. The gesture is part of the UAE’s continuing efforts to rehabilitate the infrastructure including energy across various Yemeni governorates, and to alleviate the suffering of Yemeni citizens. ...