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ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, received on Monday at Zabeel Palace, Christine Lagarde, Managing Director of the International Monetary Fund (IMF). The meeting was attended by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and H.H. Sheikh Maktoum bin ...

He added that the economic changes do not work in isolation from the political, social and cultural changes. Hence, there is a need for deep understanding of the economic issues on this basis, while new economic models should be developed in accordance with these perspectives. He said that the GCC economies experience significant transformation towards diversification of the economy and ...

ABU DHABI / WAM H.H. Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Supreme Chairwoman of the Family Development Foundation (FDF) and President of the Supreme Council for Motherhood and Childhood, today received the visiting International Monetary Fund (IMF) Managing Director, Christine Lagarde, at Al Bahr Palace. Lagarde hailed the role being played by Sheikha Fatima to ...

DUBAI / WAM Dubai Customs has attained the European Specification Certificate on Innovation Management System, TS 16555, after successfully passing the specification’s audit and technical review. Issued by the German certification body TUV INTERCERT, the Innovation Management System aims to nurture innovation and creative thinking on both individual and corporate levels, as well as to upgrade work mechanisms in a ...

DUBAI / WAM The Roads and Transport Authority (RTA) announced the extension of the deadline set for submitting documents for pre-qualification of developers and potential bidders for the design, construction, financing, operation and maintenance of the Union Oasis project until the 28 February. RTA has also introduced extensive and significant financial enhancements to the investment structure of the Project through ...

DUBAI / WAM The Al Manal Initiative, launched by HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum to activate humanitarian work at a local, regional and international level, has announced the launch of its “Step Up For Girls’ Education” campaign in support of Dubai Cares girls’ education programmes in developing countries. The campaign, which donates AED 1 towards girls’ ...

ABU DHABI / WAM Ministry of Education signed on Monday a Memorandum of Understanding (MoU) with the Ministries of Science and Education in the Republic of Montenegro. The MoU aims to establish and enhance cooperation in the field of higher education and scientific research. The Memorandum was signed by Dr. Ahmed Belhoul Al Falasi, Minister of State for Higher Education ...

Beijing / AFP China’s overcapacity in heavy industries is wreaking “far-reaching” damage on the global economy, with steel production “completely untethered” from market demand, the European Union Chamber of Commerce in China said on Monday. The Asian giant’s steel industry manufactures more than the next four largest producers combined — Japan, India, the US, and Russia — the chamber said ...

Kuala Lumpur / DPA While companies are holding tight to cash, Axiata Group Bhd is going against the grain with the purchase of Nepal’s No.1 mobile operator, Ncell Pte Ltd, for US$1.37 billion. We have been eyeing that market for two years but we only got really serious in the past few months,” Axiata group chief financial officer Chari TVT ...

Tokyo / DPA The Japanese government has decided to offer a yen loan of about 10 billion about $88,829,700) to support construction of a gigantic solar power plant with a large-capacity storage battery system in Egypt. Egypt is expected to hold a public tender open only to Japanese companies with advanced battery technology. The government hopes this will give the ...