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Bloomberg Federal Reserve officials say they’re willing to tolerate an overshoot of their inflation goal. If the opposite happens, the plan is less clear. Core inflation, excluding energy and food prices, is currently just shy of the central bank’s 2 percent target. Most economists and policy makers see that lasting, though there’s no guarantee: Inflation expectations have been stuck on ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday signed a volume commitment extension agreement for 2019 with the global shipping company AP Moller — Maersk to transport EGA’s aluminium to customers around the world. EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. ...

Abu Dhabi / WAM The UAE’s two main bourses secured AED11.5 billion in gains on Monday, the highest in months, driven by the realty and banking sectors. Amidst high sentiments, General Index of the Dubai Financial Market increased 1.63 percent, closing high at 2619 points, with General Index of the Abu Dhabi Securities Exchange following suit, ending the session up1.8 ...

DUBAI / WAM An Italian delegation led by Liborio Stellino, Ambassador of Italy to the UAE, has visited Dubai Electricity and Water Authority (Dewa), and discussed ways to enhance strategic partnerships between Dewa and Italian organisations, and exchange best global experiences and practices. This is one of a series of visits by diplomatic and consular officials to Dewa to consult ...

Bloomberg Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the United Arab Emirates, agreed to go beyond their pledged supply curbs ...

Dubai / Emirates Business Huge crowds thronged Thumbay Hosiptal – Dubai to take part in the ‘Walk for the Tolerance Walkathon’ organised by the hospital. Around 1600 people from all walks of life belonging to different nationalities and age groups marched in celebration of the UAE’s observance of 2019 as the Year of Tolerance, in line with the founding ethos ...

Sharjah / WAM Bee’ah, an environmental management company, has launched a new high-tech, Industrial Waste Water Treatment Plant (IWWTP), in Sharjah. The new plant at the company’s Waste Management Centre in Al Saj’ah, signifies a new milestone in the country’s zero-waste journey, and will be one of the UAE’s first dedicated full cycle treatment facilities for industrial and oil-contaminated wastewater. The ...

Dubai / WAM On the launch of the third round of Arab Hope Makers initiative, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that “every person has a capacity to give and a talent to invest in serving societies.” He added, “Water drops make a river, and reigniting ...

FUJAIRAH / WAM The National Bank of Fujairah (NBF), held its Annual General Assembly Meeting on Monday, where shareholders approved the distribution of profits of 20 percent of paid-up capital. This took the form of cash dividends of 7.5 percent (AED 23.3 million) and bonus shares of 12.5 percent (AED205.6 million) of paid-up capital. The bank’s shareholders also approved the ...

SHARJAH / WAM The 6th edition of the Real Estate Investment Exhibition, ACRES 2019, will kick off on Tuesday until March 21, under the patronage of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. ACRES 2019, which will be held at Expo Sharjah, will be witnessing the participation of a large ...