Abu Dhabi / WAM Empowerment of the private sector’s role and contributions to GDP was the crux of a specialised workshop organised by the Abu Dhabi Chamber of Commerce and Industry (ADCCI), in the presence of leading economic executives in the emirate. Addressing the workshop, Mohammed Hilal Al Muhairi, Director General of ADCCI, underscored the importance of developing a future-oriented ...

Abu Dhabi / WAM On the occasion of World Environment Day, celebrated on June 5 every year, Dr. Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, has said that the changes in people’s relationship with nature in recent decades, including the intensive exploitation of nature’s resources beyond its ability to regenerate, are a major cause of the current ...

Shabwa / WAM The Emirates Red Crescent (ERC), distributed urgent humanitarian aid, including basic food supplies, to the people of Shabwa Governorate suffering from difficult economic and humanitarian conditions, due to the events witnessed by the country. An ERC convoy travelled to the districts of Rodoum and Mayfa’a in Shabwa Governorate, where residents were in need of humanitarian aid. An ...

Bloomberg Seven people were killed in an attack on a popular London nightlife spot as terrorism struck Britain for the second time in as many weeks, just days before a national election. A van swerved into Saturday-night crowds on London Bridge, before three men got out and went on a stabbing rampage through nearby bars. Metropolitan Police Commissioner Cressida Dick ...

Bloomberg Turkish Prime Minister Binali Yildirim said the US-backed operation to drive IS from its Raqqa stronghold in Syria has begun, state-run Anadolu news agency reported. The offensive started on the night of June 2 and the US notified Turkey beforehand, Yildirim told reporters, Anadolu said on Sunday. US Army Colonel Ryan S. Dillon, a spokesman for the US-backed coalition ...

Bloomberg German Chancellor Angela Merkel’s chief of staff, Peter Altmaier, said Europe will move forward with countries such as China and India after the U.S. pulled out of the Paris climate treaty. “The U.S. exit from the climate accord is a major setback,” Altmaier wrote in a guest op-ed in Bild am Sonntag newspaper published on Sunday. “Even in the ...

Bloomberg Banco Popular Espanol SA is reviewing how to bolster liquidity drained by deposit withdrawals and a deterioration of its credit, according to people familiar with the matter. The Madrid-based bank, racing to sell assets and find a buyer, plans to meet on Tuesday with the European Central Bank to discuss options, the people said, asking not to be identified ...

Bloomberg Bank of Singapore, which recently broke into the ranks of Asia’s top 10 private banks, intends to keep hiring more relationship managers and focus on serving a wealthier bracket of customers to keep expanding its assets under management. The unit of Oversea-Chinese Banking Corp. added 20 relationship managers in Hong Kong this year, taking its total to slightly more ...

Bloomberg Kenyan lenders must adjust their business models to adapt to a new era of lower profits as interest-rate caps curb investor returns, Central Bank of Kenya Governor Patrick Njoroge said. Return on equity in the Kenyan banking industry declined to 13.6 percent in March from 18.2 percent in June, Njoroge told reporters in the capital, Nairobi. For the country’s ...

Bloomberg Citigroup Inc. traders are facing the same slowdown in client activity that’s dragging on revenue across U.S. investment banks this quarter, Chief Executive Officer Michael Corbat said. “We’re right in line with what the others have said,” Corbat told the audience at an investor conference in New York. He was referring to earlier remarks from senior JPMorgan Chase & ...