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Matagis / AFP Azerbaijani and Armenian forces on Wednesday said they were largely observing a truce that halted four days of clashes which claimed scores of lives in the worst outbreak of violence in decades over the disputed NagornyKarabakh region. “The ceasefire was largely observed overnight along the Karabakh frontline,” the Armenia-backed separatist defence ministry in Karabakh said in a ...

Tokyo / AFP US military bases remain essential to Japan’s security, Prime Minister Shinzo Abe said in an interview on Wednesday, as he brushed off comments by Republican presidential candidate Donald Trump that Tokyo should be left to defend itself. Japan’s alliance with Washington has been the bedrock of its defence since the end of World War II, and the ...

DUBAI / WAM As per the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the 5th World Government Summit will be held from February 12 to 14, 2017. The Summit will expand its agenda and session topics to include economy and finance as well as health, education and government ...

RITIKA SHARMA / Emirates Business Market disruption in financial sectors, branch transformation,enhanced user experience and digitalisation of banking services are some of the main challenges haunting Middle East retail bankers. One of the key questions that remains unanswered about next generation of bank consumers in the region is — will it be mobile, online or branches? This and many other ...

Iraq / AP Fighting between Iraqi forces and militants affiliated with the IS group close to Mosul, Iraq’s second largest city, has displaced over 2,000 people in the past week. On one recent night, around a hundred people arrived on the outskirts of the town of Makhmour, in Iraq’s semi-autonomous northern Kurdish region, having fled violence. The journey ended in ...

RITIKA SHARMA / Emirates Business If you think of socialising in UAE, a nearby mall would be the first option to come to your mind. Malls are not just places of shopping in UAE, they are rather the lifeline of the country and imagining a life without access to malls is nearly impossible. Over the years, many factors have led ...

Tokyo / Bloomberg Japan’s government will escape a piece of bad news until after a summer election. The $1.3 trillion Government Pension Investment Fund will on July 29 announce what may be its worst annual loss since the global financial crisis — about three weeks later than usual and after an upper house poll that must be held before July ...

New Delhi / Bloomberg Prime Minister Narendra Modi, long an opponent of global retail giants, is finally giving them an opening in India. Modi’s government is finalizing details of a policy to allow 100 percent foreign investment in marketing of food made in India. Companies like Wal-Mart Stores Inc. and Carrefour SA will be allowed to set up shops as ...

Bloomberg International Monetary Fund Managing Director Christine Lagarde said she intends to negotiate “in good faith” with the Greek government, signaling that recent animosity over the latest review of the country’s aid program will blow over. “We continue to be focused on addressing the Greek situation,” Lagarde said in an interview in Frankfurt on Tuesday with Bloomberg Television’s Francine Lacqua. ...

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 ...