April, 2018

• 1 April

  Pakistan holds key rate after currency devaluation

  

  Bloomberg Pakistan’s central bank unexpectedly left its benchmark interest rate unchanged after a second currency devaluation in four months. The target policy rate will stay at 6 percent, the State Bank of Pakistan said in a statement. The move was predicted by only three of 22 economists in a Bloomberg survey with rest expecting a hike. The central bank unexpectedly ...

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• 1 April

  Deutsche Bank to name John Thain to supervisory board

  Bloomberg John Thain, a former chief executive officer of Merrill Lynch, is expected to join Deutsche Bank AG’s supervisory board in May, according to a person with knowledge of the German lender’s plans. News of the board’s shakeup follows speculation that Deutsche Bank is seeking to replace Chief Executive Officer John Cryan. The CEO, who has been trying to restructure ...

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• 1 April

  Draghi studies Fed exit as ECB’s guide on what to do and avoid

  

  Bloomberg Mario Draghi has six months left to prepare a retreat from ultra-loose monetary policy, and he has a ready-made roadmap on hand. The US Federal Reserve’s experience of halting quantitative easing, raising interest rates and starting to shrink its balance sheet provides both a blueprint and a cautionary tale for the European Central Bank president. It’s an easy example ...

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March, 2018

• 31 March

  UAE’s pioneering role in humanitarian field hailed

  HARVARD / WAM The International Conference on Humanitarian Crises, which was held at Harvard Club of Boston, has hailed the UAE’s pioneering role in humanitarian field. The participants praised HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, for her role ...

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• 31 March

  First Gulf Properties officially launches as FAB Properties

  Abu Dhabi / WAM Following the launch of First Abu Dhabi Bank (FAB), First Gulf Properties, a wholly-owned subsidiary of the bank, has changed its name to ‘FAB Properties’. The real estate service provider, which specialises in end-to-end property solutions, has launched a new logo, inspired by the look and feel of the FAB brand identity. FAB Properties’ mission and ...

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• 31 March

  Gulftainer subsidiary wins 50-year US port concession

  

  SHARJAH / WAM Gulftainer, a privately-owned independent port operator, headquartered in the UAE, has announced that its subsidiary GT USA has inked an agreement on terms with the State of Delaware, USA, which would grant GT USA exclusive rights to operate and develop the Port of Wilmington for 50 years. Terms of the agreement are to be formally approved by ...

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• 31 March

  UN chief calls for probe into deadly Gaza clashes

  

  NEW YORK / WAM United Nations Secretary-General Antonio Guterres has called for an independent and transparent investigation into clashes at the Gaza fence between Palestinians participating in the ‘Great Return March’ and Israeli security forces which resulted in at least 15 deaths and a large number of injured. The UN chief’s call for a probe came as the Security Council ...

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• 31 March

  Dewa, UNDP strengthen ties

  DUBAI / WAM The Dubai Water and Electricity Authority’s (DEWA) Managing Director and CEO met with a UNDP representative to discuss cooperation. Saeed Mohammed Al Tayer, who is also the Chairman of the World Green Economy Organisation (WGEO) welcomed Mourad Wahba, Director of the UNDP Regional Bureau for Arab States. The meeting was attended by Waleed Salman, Vice Chairman of ...

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• 31 March

  ‘Dhowber’ boosts Dubai’s lead in maritime transport

  DUBAI / WAM The Port, Customs and Free Zone Corporation (PCFC) launched its one-of-a-kind ‘Dhowber’ project to strengthen the UAE and Dubai’s leading global position in the maritime transport industry, and help shape the sector’s future. Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, Chairman of PCFC, asserted that the new project will boost Dubai’s dhow trade competitiveness ...

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• 31 March

  MoI gives nod to ‘smart mystery volunteer’ project

  ABU DHABI / WAM HH Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior (MoI), has approved the implementation of the “Smart Mystery Volunteer” project in the Ministry of Interior. The project is a tool for measuring the quality of service performed by volunteers in a smart system. The idea of the project ...

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