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Bloomberg The World Trade Organization’s (WTO) effort to name a new leader hit a new roadblock on Wednesday after the Trump administration said it won’t back the appointment of Ngozi Okonjo-Iweala to be the WTO’s next director-general. The US could not support a consensus decision to appoint Okonjo-Iweala, Deputy US Trade Representative Dennis Shea said during a meeting of WTO ...

Bloomberg Italian Prime Minister Giuseppe Conte’s government has approved a new relief package to help sectors hit hardest by the latest coronavirus restrictions amid growing protests in cities including Milan and Turin. Conte’s cabinet signed off on measures worth about 5 billion euros ($6 billion) to partially compensate businesses that suffer from the partial lockdown approved over the weekend. The ...

Bloomberg The UK’s recovery already looks well past its peak, putting the economy on a shaky footing as it enters a winter of stricter restrictions to control the coronavirus. The worrying outlook prompted JPMorgan Chase to almost halve its forecast for fourth-quarter growth, with the bank expecting regional lockdowns to have a wider impact on sentiment across the country. That ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has launched the Nasdaq Dubai Growth Market, a new market under the umbrella of Nasdaq Dubai. The initiative aims to help young businesses and small and medium-sized companies, SMEs, achieve the next phase of their expansion by raising capital through an initial public ...

Dubai / WAM Dubai Financial Market Company (DFM) announced its financial results for the first nine months of the year ending September 30, registering a net profit of AED120.1 million, a 26 percent increase from AED95.5 million in the same period of 2019. Net profit of the third quarter of this year increased 35 percent to AED41.1million, compared to AED 30.4 ...

DUBAI / WAM The export credit agencies (ECAs) of the UAE and Uzbekistan have agreed to bolster and reinforce the trade and economic alliance between the two countries by exploring and boosting opportunities in the export of goods and services. This follows UAE and Uzbekistan’s last month announcement of their expanded partnership to include economy, manufacturing, and business incubators through ...

Bloomberg Eskom Holdings SOC Ltd, South Africa’s indebted power utility, started a billion-dollar round of investments in Africa’s oldest and only nuclear power plant before getting permission from safety regulators that the reactor’s lifetime can be extended. The decision to begin installing new steam generators at the Koeberg plant near Cape Town underscores state-owned Eskom’s confidence that it will win ...

Bloomberg President Donald Trump’s push for a second poll-defying victory is relying on a hallmark of his first — raucous campaign rallies that Trump sees as a crucial sign of voter enthusiasm but that pollsters say may only be cementing his defeat. Trump held three rallies, all in Pennsylvania, with three more scheduled on Tuesday and as many as five ...

Dubai / WAM Commercial Bank of Dubai (CBD) announced the issuance of a $600 million Additional Tier 1 (AT1) perpetual non-call 6-year bond, at a coupon of 6%, the lowest coupon from a Dubai bank issuer to date on a Basel III compliant AT1 bond. The transaction is the bank’s inaugural AT1 issuance, returning the bank to the capital markets ...

Abu Dhabi / WAM The highest number of submissions have been recorded for the 15th edition of the Sheikh Zayed Book Award, as its Reading Panel reported reviewing a record 2,349 submissions across nine categories, from 22 Arab and 35 foreign countries. The Reading Panel concluded its review of all submitted works, the highest number in the Award’s 14-year history, ...