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Bloomberg An impasse between Brazil’s economic team and congress over this year’s budget will likely end up with President Jair Bolsonaro accepting only part of his economy chief’s austerity pleas as lawmakers push to ramp up spending ahead of next year’s elections. Bolsonaro has agreed to reject part of the budget proposal to make room for mandatory spending that was ...

Bloomberg UK Prime Minister Boris Johnson sought to reassure the public that summer holidays are still a possibility, a day after warning that the government may not meet a May 17 goal to reopen its borders. While many popular holiday destinations are struggling with surges in Covid-19 cases, this doesn’t mean the government has given up on next month’s target, ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec) announced on Tuesday that the Unit 1 of Barakah Nuclear Energy Plant has started commercial operations. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, applauded this achievement, describing it as a significant milestone in the UAE’s long-term ...

GROZNY / WAM Ramzan Kadyrov, President of Chechnya, inaugurated a major street in the Chechen capital, Grozny, named after His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. During the inauguration, which was attended by Dr Mohammed Ahmed Al Jaber, UAE Ambassador to Russia, President Kadyrov highlighted ...

UMM AL QAIWAIN / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, accompanied by Mohammed Mohammed Saleh, Director-General of the Federal Electricity and Water Authority (FEWA), and several officials, visited the new water desalination plant project in Umm Al Qaiwain, which is the largest of its kind in the region. The new plant covers an area of ...

ABU DHABI / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, Deputy Chairman of the Board of Directors at Emirates Development Bank (EDB), asserted that the bank’s new strategy firmly positions it as a driving force in the UAE’s development. Commenting on the launch of the Emirates Development Bank Strategy, Dr Al ...

Bloomberg China urged Japan to steer clear of “internal issues” including Hong Kong and Xinjiang as Japanese Prime Minister Yoshihide Suga prepares to meet US President Joe Biden later this month. Chinese Foreign Minister Wang Yi told his counterpart Toshimitsu Motegi that he hoped Japan could treat China’s development from an “objective and rational” perspective, rather than be led by ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the Emirates Development Bank (EDB) Strategy to provide a sizeable AED30 billion financial support to businesses and start-ups in a major step to drive the national economy. Launched to support “Operation 300bn”, the EDB Strategy aims to leverage the Bank’s ...

Dubai / WAM Dubai Chamber of Commerce and Industry’s representative offices in Africa organised a webinar in cooperation with Oxford Business Group and the Pan African Chamber of Commerce and Industry, which covered some of the key benefits of doing business in Africa. The virtual event, attended by 163 participants from the UAE and Africa, aimed to familiarise UAE companies ...

DUBAI / WAM Dubai Mercantile Exchange (DME) on Monday announced the launch of Alternative Crude Ecosystem (ACE) — a new bilateral trading platform to enable participants to trade multiple crude grades through the exchange. DME, which is based in Dubai International Financial Centre (DIFC), will make the platform available for all participants and will offer traders the opportunity to trade ...