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Bloomberg The pound pared earlier advances following disappointing economic data, as the gloomy economic picture countered the optimism in the market following the decisive Conservative victory in last week’s election. Sterling returned to the flatline after purchasing managers’ indexes from UK factories posted their weakest performance in more than seven years. The currency had earlier advanced against all its major ...

Bloomberg The Bank of Japan (BOJ) will leave monetary policy unchanged this week, and probably for much longer, after Prime Minister Shinzo Abe unveiled a stimulus package to bolster growth, according to a Bloomberg survey. All 45 economists polled expect no action from the bank at the end of a two-day meeting on Thursday. For the first time since April, ...

Bloomberg The world’s oldest central bank stands to be the most significant this month as it pioneers a shift away from negative interest rates. Sweden was among the handful of economies that reduced key interest rates half a decade ago below zero. Now officials at the Riksbank — founded in 1668 — insist the policy has done its stimulus work, ...

JEDDAH / WAM The First Abu Dhabi Bank (FAB), announced that it further expands into the Kingdom of Saudi Arabia with the opening of a branch in Jeddah. The Saudi Arabian Monetary Authority (SAMA), has granted FAB a licence to open three branches in the Kingdom, with the bank commencing operations in Riyadh and Al Khobar earlier in 2019. Commenting of ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received a delegation of Speakers and members of regional and international parliaments and members of the Global Council for Tolerance and Peace, who are currently visiting the UAE to participate in the celebration of ...

Dubai / WAM HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, on Monday signed a cooperation agreement with Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Directors of the Roads and Transport Authority (RTA), in Dubai, as part of Dubai Culture’s ongoing mission to establish the emirate as ...

Abu Dhabi / WAM The UAE on Monday announced AED55 million ($15 million) for school supplies that will support 400,000 students in Sudan. The monetary aid, provided by Abu Dhabi Fund for Development (ADFD), covers educational necessities, including classroom equipment. ADFD, in cooperation with the Sudanese government, supervised the delivery of the first shipment of school supplies that covers the ...

Bloomberg Boris Johnson will appoint new ministers to his cabinet on Monday as he pushes ahead with Brexit after securing a historic victory in last week’s UK election. The prime minister now has the power to enforce his vision for leaving the European Union and reshaping the British economy, following the biggest win for his Conservative Party since Margaret Thatcher ...

Bloomberg President Donald Trump’s top envoy to North Korea countered Kim Jong Un’s threat of a Christmas provocation with a call for more nuclear talks to usher in a “season of peace.” US Special Representative for North Korea Stephen Biegun on Monday urged Kim to return to negotiations, noting that the coming holiday was “one of the most sacred days ...

Bloomberg Joe Biden and Bernie Sanders lead the field of Democratic presidential candidates, followed by Elizabeth Warren, according to a NPR/PBS NewsHour/Marist poll released on Monday. The poll of Democratic and Democratic-leaning independents shows Biden with 24% support and Sanders at 22%, within the margin of error of 5.4 percentage points. Warren had 17%, and Pete Buttigieg had 13%. Andrew ...