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Cairo / WAM President of Egypt, Abdel Fattah El Sisi, received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in Cairo on Sunday. During the meeting, attended by Sameh Shukry, Egyptian Foreign Minister, President El Sisi and Sheikh Abdullah discussed the brotherly relations between the UAE and Egypt, along with ways to enhance ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has reaffirmed the directions of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to provide the utmost support for the UAE family considering it as the nucleus of society. Sheikh Mohammed adopted the National Family Policy ...

Dubai / WAM Dubai Investments has announced that its private equity subsidiary Masharie LLC divested its 50% stake in Dubai International Driving Centre (Drive Dubai), for AED 35 million. The stake sale generated an internal rate of return (IRR) of 21 percent. Masharie was one of the founding partners of Drive Dubai in December 2012. Drive Dubai operates an 850,000 ...

DUBAI / WAM The Gulf job market is set to grow at an average rate of nine percent this year, according to research conducted by GulfTalent, an online recruitment portal. The results are based on GulfTalent’s survey of over 1,100 CEOs and executive managers of firms across the GCC. According to survey findings, the biggest factor driving employment growth is ...

Bloomberg Officials reported a high turnout among voters in Russian presidential elections that are expected to hand Vladimir Putin a mandate to rule until 2024 amid an escalating standoff with the West. Opposition activists complained of ballot fraud. The Central Election Commission said turnout across Russia was 59.6 percent at 7 pm in Moscow. The Tass news service reported that ...

Bloomberg China’s crackdown on financial risks and trade tensions with the US threaten to undermine a stronger-than-expected start to the year for the world’s second-largest economy. Factory output and investment in fixed assets exceeded economists’ expectations in the first two months of this year, climbing 7.2 percent and 7.9 percent respectively from a year earlier as Chinese exports surged. Retail ...

Bloomberg The opening of Nirav Modi’s jewellery store on Madison Avenue in the fall of 2015 attracted A-listers from actress Naomi Watts to Donald Trump Jr. It also celebrated the expansion of an Indian business that is now near ruin amid an investigation for an alleged $2 billion fraud. As investigators probe Modi’s alleged use of fake guarantees from the ...

Bloomberg The US economy is beginning the year with a downshift in growth despite $1.5 trillion in tax cuts signed by President Donald Trump in December. Unexpectedly weak February retail sales pushed down forecasts for the annualised pace of expansion in the first quarter, with the Federal Reserve Bank of Atlanta’s GDPNow tracking estimate at 1.8 percent on March 16, ...

Bloomberg It’s little surprise that the best-paid MBA graduates are from American universities. What is unexpected is just how much US schools dominate the rankings. A new survey of the 20 best-paid graduate business schools found that the top 11 are all in the US. The Sloan School of Management at the Massachusetts Institute of Technology came out on top, ...

Bloomberg Luxembourg could soon be a home for bankers escaping Brexit. As the Grand Duchy prepares to welcome financiers relocating from the UK, a lack of housing has pushed the price of relatively modest family homes beyond the 1 million-euro mark ($1.2 million). That’s led to edgier areas being developed to keep up with demand, according to real estate brokers ...