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Bloomberg The secretary of Russia’s Security Council threatened retaliation in a growing standoff with the European Union after Lithuania blocked the transit of sanctioned goods to the Baltic exclave of Kaliningrad. Russia “will certainly respond to such hostile actions” and appropriate measures will be taken soon, Nikolai Patrushev, a close ally of President Vladimir Putin, said Tuesday in comments from ...

  Bloomberg Corporate distress in Europe’s biggest markets is near a two-year high as inflation and higher interest rates squeeze indebted firms. Companies in Germany, the UK, France, Spain and Italy are the most distressed since August 2020, according to the Weil European Distress Index. The study aggregates the data from more than 3,750 listed European firms. “If this upward ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the opening of Expo City Dubai, this coming October. The new city is an ideal smart and futuristic destination for business and innovation, driven by sustainability, innovation, education and entertainment. His Highness Sheikh Mohammed bin ...

  Abu Dhabi / WAM Emirates Steel Arkan announced on Monday its participation in the “Make it in the Emirates” forum, where it will highlight its contribution to the country’s industrial output and showcase new products, including the recently introduced ES600 rebar. The forum, which is the first of its kind in the UAE, will bring together more than 1,300 ...

  ABU DHABI / WAM Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has ranked 30th globally in its areas of focuses, including artificial intelligence, computer vision, machine learning, and natural language processing, in CSRankings list. MBZUAI ranking puts it ahead of several renowned research universities worldwide, such as University of Michigan, Georgia Tech, and University of Toronto in North ...

Bloomberg Colombia is bracing for the prospect of a radical change in economic and political direction after electing a former guerrilla to the presidency on a platform of transforming the country’s business-friendly model. Gustavo Petro, 62, defeated construction magnate Rodolfo Hernandez in Sunday’s runoff vote, giving him a shot at enacting a program that includes plans to tax big landowners, ...

Bloomberg President Emmanuel Macron made history in the French legislative elections, just not in the way he hoped. The 44-year-old centrist became the first president in decades to fail to garner an absolute majority in parliament, falling short of the 289-seat threshold. His alliance, however, will still remain the largest bloc. That means that while Macron may be able to ...

  Abu Dhabi / WAM Emirates Development Bank (EDB), will be participating in the first Make it in the Emirates Forum on June 21-22 at Adnoc Business Centre, Abu Dhabi, organised by the Ministry of Industry and Advanced Technology in cooperation with the Abu Dhabi Department of Economic Development (Added). As a key partner in the ministry’s efforts to empower ...

  ABU DHABI / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, emphasised that the UAE is continuing to enhance its unique model to diversify energy sources and move towards environmentally friendly energy sources, to fulfill its international obligations regarding climate change phenomena, and achieve the objectives of its ambitious strategic initiative for ...

  Dubai / WAM Dubai Customs Consultative Council held its meeting in an atmosphere of optimism regarding growth indicators for various economic sectors in the UAE. The meeting focused on several topics, including the prospects of trade recovery and the multiple economic benefits that will be provided by the historic UAE-India Comprehensive Economic Partnership Agreement (CEPA), which is expected to ...