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Bloomberg Hedge funds holding debt in Puerto Rico’s Government Development Bank sued to stop the island’s key fiscal entity from making payments to local government agencies as it faces a growing cash shortage and the prospect of insolvency. The funds, which include affiliates of Brigade Capital Management, Claren Road Asset Management and Solus Alternative Asset Management, accused the bank in ...

Vienna / AFP Talks to end the worst violence in decades in the disputed territory of Nagorny Karabakh kicked off in Vienna on Tuesday. The meeting gathered Russia, the United States and France in the so-called Minsk Group, spearheading attempts to end a low-key conflict that revived bloodily and dangerously last Friday. Analysts say the crisis could set a spark ...

Yangon / AFP Myanmar foreign minister Aung San Suu Kyi met her Chinese counterpart in Naypyidaw on Tuesday, an official said, as relations with Beijing take centre stage in the first diplomatic foray of her newly installed pro-democracy government. The Southeast Asian nation sees its giant neighbour—and largest trading partner—as its biggest foreign policy preoccupation with border wars and controversial ...

Abu Dhabi / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, led a high-level delegation visit to the headquarters of the National Centre of Meteorology and Seismology (NCMS) to gain first-hand updates on the UAE’s efforts in driving cloud seeding operations managed by NCMS. Dr. Abdullah Al Mandoos, Director of NCMS, welcomed the delegation. Omar Al Yazidi, ...

Sydney / Bloomberg Australia is prioritizing growth over deficit reduction in its economic programme, Prime Minister Malcolm Turnbull said, signaling he expects to close the gap through rising tax receipts from faster expansion. The prime minister, a month out from the budget’s release, signaled no plans to try to accelerate a return to the black — despite eight years of ...

Baku / Bloomberg Deadly clashes between Azerbaijani and Armenian forces over the NagornyKarabakh region continued for a third day on Monday despite international pressure to halt the worst fighting in decades over the disputed territory. Azerbaijan said three of its troops were killed overnight when Armenian forces shelled its positions using mortars and grenade launchers, taking the overall death toll ...

ABU DHABI / Emirates Business FGB, one of the leading banks in the UAE, has received the BS OHSAS 18001 Health & Safety Certification by BSI Middle East and Africa. This makes FGB the first bank in the MENA region to have this title, which recognises its ongoing efforts to ensure occupational health and safety in its business environment. The ...

Dubai / Emirates Business In the presence of HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy (DSCE), MD and CEO of Dubai Electricity and Water Authority (DEWA), and Chairman of the World Green Economy Summit (WGES), DEWA organized, in collaboration with Dubai Carbon Centre of Excellence (DCCE) and United Nations Development Programme (UNDP), a ...

SUNAINA RANA / Bloomberg Considering the rapid expansion of e-commerce in the Emirates and mounting need of constant vigilance, Department of Economic Development (DED) has signed a deal with Souq.com to protect the customer rights. According to the pact, which was signed between Mohammad Lootah, CEO of Commercial Compliance and Consumer Protection (CCCP) sector in DED, and Ronaldo Mouchawar, CEO ...

Dubai / Emirates Business As many as ss30 Emirati women from across the public and private sectors took part in Dubai Women Establishment’s (DWE) flagship equine leadership initiative, “Leaders Spirit” – Leadership Skills from an Equestrian Perspective Advanced Programme” which concluded on Monday. The programme, which was held at the Desert Palm Hotel & Resort in Dubai, is designed to ...