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Berlin / Bloomberg German Chancellor Angela Merkel’s coalition backed a resolution calling for a complete separation of the European Central Bank’s supervision of financial institutions from its monetary policy role. The lower house of parliament on Thursday voted in favor of the motion, which also urges the government to ensure that small, lower-risk institutions such as cooperative and savings banks ...

Brussels / AFP British Prime Minister David Cameron threatened to walk away on Thursday from a “make or break” EU summit without a deal as his counterparts warned they would not pay any price to stop Britain crashing out of the bloc. “I’ll be battling for Britain. If we can get a good deal I’ll take that deal but I ...

Kiev / AFP Kiev vowed on Thursday to “decisively” fight Russia’s demand for the full repayment of a $3-billion (€2.7-billion) loan it issued to Ukraine under since-ousted Moscow-backed president Viktor Yanukovych in 2013. Russia on Wednesday filed a lawsuit with the High Court in London after the two sides failed to reach a private settlement over the debt. The eurobond ...

MOSCOW / Bloomberg After deflecting pressure in 2015 with salary reductions, part-time work and unpaid vacations, companies are increasingly opting to cut jobs as the economy enters its second year of contraction. As Russia’s biggest companies from carmaker AvtoVAZ to nuclear plant operator Rosenergoatom plan job cuts, Labor Minister Maxim Topilin predicts unemployment reaching the highest since 2013 by mid-year. ...

Bloomberg Hungary’s central bank, already facing criticism for a spending spree ranging from real estate to fine art, is now beefing up its security force, citing Europe’s migrant crisis and potential bomb threats among the reasons. The National Bank of Hungary bought 200,000 rounds of live ammunition and 112 handguns for its security company. Additional protection is needed due to ...

Cairo / WAM Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, has called for stronger joint pan-Arab economic action to counter current challenges, eliminate obstacles to intra-Arab trade and investment and speed up innovation and creativity to achieve economic diversification, development and prosperity. The UAE takes great interest in the issues of joint Arab action as a ...

DUBAI / WAM Dubai Women Establishment (DWE) and NMC Healthcare on Thursday signed a partnership agreement at the Government of Dubai Media Office. According to the agreement, NMC, the Platinum partner will support a pack of innovative health initiatives during the Global Women’s Forum Dubai 2016. Dr. Oz, Vice-Chair and Professor of Surgery at Columbia University and directs the Cardiovascular ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has received ISO 10002:2014 certification for providing guidance on the process for handling complaints about planning, design, operation, maintenance, and improvement of services. This accomplishment reflects DEWA’s commitment to employing the highest standards of availability, reliability and efficiency when providing customers with services that adhere to the highest standards of excellence. ...

Abu Dhabi / WAM In a circular issued to employers in the public and private sectors, the General Pension and Social Security Authority (GPSSA) has underlined the necessity to register working UAE nationals in the pension programme and proceed with paying their due contributions starting from their joining date until the end of their service duration, even if this is ...

Abu Dhabi / WAM The UAE’s Federal Transport Authority-Land and Maritime and Fleming Events on Thursday held a press conference to announce the second NATRANS Expo, slated to be held from October 25-26 2016, at ADNEC under the patronage of Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Authority. NATRANS Expo is dedicated ...