BLOOMBERG Royal Bank of Canada (RBC) is cleaning up City National Bank’s balance sheet after the US lender posted a money-losing quarter amid higher rates and the crisis of confidence at regional banks. RBC made a capital injection into City National and bought debt securities from it, boosting the Los Angeles-based division’s liquidity and capital and allowing it to pay ...

ABU DHABI/ WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, said that Fifty years ago, Al Jundi magazine was launched to provide content that contributes to the intellectual development of the Emirati people and serves the nation’s development journey, with a particular focus on military and security ...

ABU DHABI/ WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, emphasised the significance of the role of Al Jundi magazine and other specialised national publications in boosting the knowledge and awareness of its readership in the UAE. “This holds especially true for members of our Armed Forces, through ...

ABUDHABI/ WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, said that Al Jundi magazine has firmly established its distinctive position on the map of leading media outlets in the United Arab Emirates. In a statement marking the magazine’s 50th anniversary, the minister said: “Al-Jundi has taken a prestigious place in the field of specialised military media, ...

ABU DHABI/ WAM Al Jundi magazine, published by the UAE Ministry of Defence, is celebrating its 50th anniversary, which falls on 1st October 2023. Coinciding with the release of its 597th issue for October 2023, Al Jundi has published a special commemorative edition to mark its golden jubilee, reflecting on the successes and achievements of the magazine over the past ...

DUBAI/ WAM Dubai Miracle Garden, the largest natural flower garden in the world, today opened its doors for visitors, marking a momentous 12-year anniversary for the renowned international attraction. The 12th season comes at the back of immense success last year, during which the garden provided families and children with the opportunity to celebrate the region’s biggest sporting event, the ...

BLOOMBERG The European Union’s probe into Beijing’s electric-vehicle (EV) subsidies is meant to protect its carmakers from a flood of cheap Chinese cars. But if it leads to tit-for-tat tariffs, Mercedes-Benz Group AG and BMW AG’s biggest moneymakers will be most exposed. For Germany’s high-end manufacturers, including Porsche AG, China has proven an insatiable market for their most expensive models, ...

BLOOMBERG One automaker is looming larger than any other in the investigation of electric vehicles flowing into the European Union from China: Tesla Inc. During the evidence-gathering that precipitated last month’s surprise announcement of an EU anti-subsidy probe into Chinese EVs, the US carmaker was among the companies found to have likely benefited, according to people familiar with the matter. ...

ABU DHABI / WAM In his capacity as Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law establishing the Department of Government Enablement – Abu Dhabi. The objectives of the department are to provide Abu Dhabi Government entities services that enhance human capital and digitisation; deliver digital government services; ...

ABU DHABI / WAM The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have on Thursday entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP). The agreement, signed by Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Hassan Abdalla, Governor of the Central ...