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ABU DHABI / WAM The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.6 percent, climbing from AED2958.6 billion at the end of June 2019 to AED2975.8 billion at the end of July 2019. Gross credit increased by 0.7 percent from AED1692.7 billion at the end of June 2019 to AED1704.9 billion at the ...

Bloomberg Japan signaled it wanted to lay to rest the threat of new auto tariffs before agreeing to a final trade deal with US President Donald Trump, after he left the door open for slapping levies on the nearly $50 billion sector. Trump said he was not considering imposing punitive duties “at this moment,” after he and Prime Minister Shinzo ...

Bloomberg Thailand is jump starting a decades-old plan to create a Southeast Asia electricity super-grid, and wants to be the power-trading hub at the center of it. The nation is set to triple the amount of electricity from Laos that it resells to Malaysia, while encouraging infrastructure upgrades stretching from Cambodia to Myanmar necessary for cross-border power trading, said Wattanapong ...

Bloomberg For American retailers, what Trump giveth, Trump taketh away. President Donald Trump’s administration, which said just 10 days ago it would delay until December some of its new tariffs on Chinese goods, has hit the retail sector with a new blow: The new levies will be raised to 15% from 10% as retaliation after China threatened to impose additional ...

Bloomberg A collapse in exports pushed Europe’s largest economy to the brink of recession in the second quarter. In a sign that an increasingly hostile trade war between the US and China is at least partially to blame for Germany’s deepening manufacturing malaise, shipments abroad declined 1.3%, the most in more than six years. That led to a contraction in ...

Bloomberg The International Monetary Fund’s (IMF) record loan to Argentina last year was supposed to turn the page on a troubled history. It’s looking more like a case of déjà vu. Less than two decades ago, Argentina crashed out of an IMF program, defaulted on debt and plunged into depression. As Fund officials arrived in Buenos Aires to assess the ...

Bloomberg Hong Kong’s leader said her government can handle unrest without assistance from Chinese forces, and still wants to hold talks with protesters despite a flare up in violence. “To this day, the SAR [Special Administrative Region] government is still confident it’s able to solve the disturbance that’s gone on for two months,” Chief Executive Carrie Lam told a regular ...

ABU DHABI / WAM Emirati women make up 45 percent of the UAE’s space sector workforce, which reaffirms the government’s commitment to encourage a more diverse career path for Emirati women, said Dr Mohamed Nasser Al Ahbabi, Director-General of the Emirates Space Agency. Speaking to the Emirates News Agency (WAM) on the occasion of Emirati Women’s Day, which is observed ...

Dubai / WAM Brigadier Abdullah Hussain Ahli, Acting Commander-in-Chief of Community Happiness at the Dubai Police, chaired the meeting of the “Support Sector” of the Expo 2020 Dubai. The meeting of the sector, which is one of the expo’s security sectors, along with the operations and criminal investigation sectors, discussed the media plan prepared by the “Information and Communication Committee,” ...

ABU DHABI / WAM The Abu Dhabi National Exhibitions Company (Adnec) on Monday released its events calendar for the upcoming season in 2019. Adnec, the emirate’s premier event venue, and the Al Ain Convention Centre (AACC) are gearing up to host world-class exhibitions, conferences and events in Abu Dhabi and Al Ain. Humaid Matar Al Dhaheri, Group CEO of Adnec, ...