Sheikha Latifa opens world’s biggest book sale in Dubai

DUBAI / WAM HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council, inaugurated the fourth edition of the “Big Bad Wolf Books” exhibition, the world’s biggest book sale. Being held until April 16 at the Dubai Studio City, the 10-day event is displaying over a ...

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UAE President sends letter to Emir of Kuwait

ABU DHABI/ WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written letter to His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Emir of Kuwait, to commend the deep-rooted and historical ties that bind the two countries and peoples. The letter also included an invitation for His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah to attend COP28, which ...

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US opposes clear Nato plan for Kyiv

BLOOMBERG The US is opposing efforts by some European nations to offer Ukraine a clear “road map” to the North Atlantic Treaty Organization (Nato) membership at the alliance’s July summit in Lithuania, the Financial Times (FT) reported, citing four officials involved in the talks. Lines were drawn at a meeting of Nato foreign ministers in Brussels, the newspaper reported. Ukraine ...

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China restraint on Taiwan shows Xi Jinping has bigger concerns now

BLOOMBERG After former US House Speaker Nancy Pelosi touched down in Taiwan last year, it took less than an hour for China to announce missile tests and military drills encircling the island. By that standard, Beijing’s initial reaction to President Tsai Ing-wen’s unprecedented meeting on US soil with House Speaker Kevin McCarthy has been muted. Although China released statements condemning ...

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UK wants to revive US trade talks when Biden visits Ireland

BLOOMBERG The UK is seeking to restart talks with the US for a trade deal, people familiar with the matter said, hoping to overcome President Joe Biden’s reluctance over agreements that are unpopular with key American voters. British officials are expected to privately lobby their American counterparts to reopen dialogue when Biden visits Northern Ireland on April 11, according to ...

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India confronts Myanmar about Chinese spy post

BLOOMBERG India has confronted Myanmar in recent months with intelligence showing that China is providing assistance in building a surveillance post on a remote island in the Bay of Bengal, according to Indian officials with knowledge of the matter. Indian government representatives at various levels have shared satellite imagery with Myanmar counterparts that they said depicted Chinese workers helping to ...

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Two dead after ice storm hits Canada’s provinces

OTTAWA / WAM Two people died and more than a million were without power after an ice storm hit Canada’s two most-populated provinces ahead of a holiday weekend, bringing freezing rain and strong winds that toppled trees and weighed down power lines, Reuters reported. Just under a million people did not have power in Quebec and about 110,000 in Ontario ...

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US futures rise, bonds slide

BLOOMBERG Policy-sensitive Treasury notes fell and US stock futures advanced after a solid March jobs report did little to alter views on the Federal Reserve’s next policy move. Futures on the S&P 500 erased losses to trade higher, while the two-year Treasury yield jumped 11 basis points to 3.94% after the March jobs report showed payroll growth moderated, while wages ...

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India seeks to deepen forex markets with onshore NDFs

BLOOMBERG India announced steps to deepen its foreign exchange market by allowing local residents trade currency derivatives contracts popular in the offshore market, according to the central bank. Local lenders with a so-called IFSC Banking Unit — basically having a unit in the International Financial Services Centre currently in Gift City in Gujarat — will be permitted to offer non-deliverable ...

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