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SAINT PETERSBURG / WAM International tourist arrivals grew 4 percent from January to June this year, compared to same period last year, according to the latest UNWTO World Tourism Barometer published ahead of 23rd World Tourism Organisation General Assembly. Growth was led by the Middle East (+8 percent) and Asia and the Pacific (+6 percent). International arrivals in Europe grew ...

Abu Dhabi / WAM The National Petroleum Construction Company (NPCC), a part of the UAE’s Senaat, on Monday, signed Memorandums of Understanding (MoUs), with two leading entities in China’s energy sector at the 24th World Energy Congress in Abu Dhabi, in order to explore joint collaborative opportunities in both onshore and offshore oil and gas sectors, as well as other ...

Bloomberg Car sales in India suffered their biggest monthly drop on record, as the slump in the country’s auto sector shows no sign of letting up. Deliveries slid 41% in August from a year earlier to 115,957 units, while sales of passenger vehicles including SUVs fell 32%, according to data released by the Society of Indian Automobile Manufacturers on Monday. ...

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 the Chairman of the Board and Chief Executive Officer of Total, Patrick Pouyanné, at Qasr Al Bahr Majlis on Monday. Pouyanné was accompanied by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of ...

Abu Dhabi / WAM The 24th World Energy Congress (WEC), kicked off in Abu Dhabi on Monday, gathering ministers, CEOs, policy-makers and industry practitioners from 150 countries to explore new energy futures, critical innovation areas, and new strategies. Under the theme “Energy for Prosperity”, the Energy Congress leads delegates through a four-day interactive programme designed to address the most critical ...

Bloomberg European Central Bank (ECB) President Mario Draghi will test the composure of global policy makers this week as he unleashes a barrage of stimulus to shore up economic growth. The monetary easing will probably feature the centerpiece of an interest-rate cut that widens the difference between borrowing costs in the euro area and elsewhere. That will potentially affect foreign ...

Bloomberg Citigroup Inc and Credit Suisse Group AG are expecting more African deals as governments sell assets and Ethiopia opens up. “Privatisation is a theme we see as becoming increasingly important given the fiscal pressures faced by many African governments,” Vikas Seth, the head of global emerging markets within investment banking and capital markets at Credit Suisse Group AG, said ...

Bloomberg It’s important that the next governor of the Bank of England is politically sensitive, according to Kate Barker, who is part of the panel interviewing candidates for the job. “If you’re really appointing a governor for eight years, it’s pretty difficult to foresee the political circumstances through that eight years into which this person is going to have to ...

Bloomberg Morgan Stanley has hired Umi Mehta, an investment banker focussed on internet companies, from Bank of America (BofA) Corp in Silicon Valley, according to people familiar with the matter. Mehta has started work as a managing director of global internet at Morgan Stanley’s office in Menlo Park, California, working alongside Kate Claassen as co-head of the group, said the ...

Bloomberg The World Bank projects Indonesia’s economic growth will slide to below 5% next year and warned of “severe” outflows if global risks worsen. The forecasts were made in a presentation to Indonesian President Joko Widodo, according to two people with knowledge of the matter, who didn’t want to be identified because the discussions were private. The presentation slides — ...