WASHINGTON / WAM The UAE is successfully adjusting to the new ‘lower-for-longer’ oil environment, and the government’s economic initiatives have been broadly in line with global and regional trends, an International Monetary Fund (IMF) study has affirmed. The study, published by the IMF on its website, commends the progress made by the UAE over the past years to ‘strengthen its ...

Dubai / WAM The Ministry of Finance (MoF), signed a final agreement for the avoidance of double taxation with the Republic of Cameroon at the Ministry’s premises in Dubai on Sunday. The agreement comes in line with the ministry’s strategy to strengthen bilateral trade and economic relations between the two countries, in order to expand its network of international relations ...

Bloomberg Voting is under way in the Venezuela opposition alliance’s unofficial plebiscite, as it seeks to challenge the legitimacy of President Nicolas Maduro’s plan to rewrite the constitution after four months of anti-government protests that have left almost 100 dead. Venezuelans are being asked if they reject Maduro’s plan for a new assembly to change the constitution, if the armed ...

Bloomberg Chancellor of the Exchequer Philip Hammond said transitional arrangements for Britain leaving the European Union are likely to last a couple of years, rather than the couple of months suggested by his cabinet colleague, Trade Secretary Liam Fox. “It depends how long we need to put in place new customs systems, new migration systems; these things can’t be magicked ...

Bloomberg German Chancellor Angela Merkel said she planned to serve a full four-year term if re-elected and defended herself against a political attack by her Social Democratic challenger that she’s faltered on public infrastructure investment. “I made clear when I announced my re-election bid that I would run for four years,” Merkel said in an interview with ARD television on ...

Bloomberg French President Emmanuel Macron, who welcomed Donald Trump to Paris two days ago to participate in Bastille Day celebrations, said the US president may seek a solution over the next months for the fight against global warming. “We’ve spoken in detail on what may allow him to return into the Paris accord,” Macron said in comments published on Sunday ...

Bloomberg Donald Trump made a fresh attack on the media on Sunday as a new opinion polls showed falling approval ratings in the sixth month of the president’s term, and hours after news that his campaign made a payment in late June to the law firm later revealed to be representing Donald Trump Jr. “With all of its phony unnamed ...

Dubai / Emirates Business Mashreq, one of the leading financial institutions in the UAE, has reported its financial results for the first half ending June 30, 2017. Net profit for the first half stood at AED 1.1 billion — a 3.0% increase YoY. Impairment allowance was down by 22.3% YoY. Mashreq’s best-in-class non-interest income to operating income ratio remained high ...

ABU DHABI / WAM The UAE Pavilion at Expo 2017 Astana, managed and supervised by the National Media Council (NMC) witnessed widespread interest from a broad range of international VIP’s and visitors since its opening on 10th June, reac- hing 150,000 during its first month. The pavilion at Expo 2017 Astana, held under the theme ‘Future Energy’, represents an ideal ...

ABU DHABI / WAM Aldar Properties is on track to hand over its Ansam project on Yas Island during the fourth quarter of 2017, while making strong progress across a number of other developments in key destinations. Situated on the west side of Yas Island, construction of the Andalusian-style apartment development, Ansam, is entering its final stages. Building facade works ...