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DUBAI / WAM Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Chairman of Zayed Housing Programme (ZHP), has signed two contracts for building and maintaining two residential complexes in the Emirates of Umm Al Qaiwain and Ras Al Khaimah at a total cost of AED622.65 million. The first AED298.65 million contract, signed with the National Gulf ...

Dubai / WAM The International Centre of Islamic Economy headquartered at the Dubai Airport Freezone Authority ( DAFZA ) officially launched the digital portal of the ‘Oasis of Innovation in Islamic Economy’ concurrently with the groundbreaking of the first global oasis dedicated to incubating creative ideas and entrepreneurial projects in support of the international Islamic economy. Dr. Abdulrahman Bin Saleh ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI) on Thursday hosted a seminar entitled Management of Letter of Credit Operations – the Exporters and Importers Perspective, aimed to bring a new dimension to trade finance by providing a comprehensive overview of obligations and challenges faced by the parties using documentary letters of credit. Conducted by Vincent O’Brien, ...

BERBERA / WAM The Khalifa bin Zayed Al Nahyan Foundation began on Thursday the distribution of new emergency relief aid to the Somali families in Berbera, a city in the northwestern Berbera District of Somaliland. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

Bloomberg From architects and airlines to insurers and accountants, Britain’s services powerhouse has much at stake in Prime Minister David Cameron’s “Brexit” gamble. A vote to leave the European Union in the June 23 referendum could hamper efforts to make it easier and cheaper to do business in the bloc, potentially costing service providers billions of pounds, analysts and trade ...

Bloomberg German joblessness was unchanged in March, snapping a run of five consecutive declines, in a sign that Europe’s largest economy may be struggling to absorb a wave of refugees. The number of people out of work held at a seasonally adjusted 2.73 million, data from the Federal Labor Agency in Nuremberg showed on Thursday. Economists surveyed by Bloomberg predicted ...

Bloomberg Spain missed its budget-deficit goal for 2015 as Prime Minister Mariano Rajoy tried to rally support ahead of December’s election, marking the eighth consecutive year the nation has overshot its fiscal target. The shortfall last year was 5.2 percent of gross domestic product, the second-biggest deficit in Europe, Budget Minister Cristobal Montoro said Thursday at a press conference in ...

Bloomberg Euro-area inflation was negative for a second month in March, in data released on the eve of the European Central Bank’s first day of expanded debt purchasing to fight deflation. The consumer price index in the 19-nation bloc fell 0.1 percent from a year earlier after a 0.2 percent drop in February, according to data published on Thursday. That ...

Bloomberg Buyers for Britain’s biggest steel operations may be tough to come by. Faced with a market flooded with cheap Chinese exports, Tata Steel Ltd. is planning to sell its U.K. business after several quarters of losses and 2 billion pounds of writedowns left the division with an asset value of almost zero. Steel prices have plunged to the lowest ...

SHANGHAI / Reuters China’s Ministry of Finance unveiled details of its 2016 budget plans on Wednesday, with spending jacked up sharply on many items, including an 11-fold increase for “repairs” to 94 billion yuan ($14.54 billion). Other big increases have been made for health care and family planning, which will get a 47.2 percent boost to 12.43 billion yuan. Spending ...