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Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, awarded an advisory contract to EY, a global leader in assurance, tax, transaction and advisory services. The contract will allow EY to extend its insights and quality services and solutions in the areas of strategy and operational transformation to the federal agency of the UAE mandated to ...

DUBAI / WAM The National Bank of Ras Al-Khaimah, Rakbank, has announced a consolidated net profit of AED917.5 million for fiscal year FY 2018, an increase of AED107 million over the previous year. As at December 31, 2018, the bank’s total assets stood at AED52.7 billion, growing by 8.5 per cent compared to 2017. Gross loans and advances were AED34.8 ...

ABU DHABI / WAM Emirates Steel, a subsidiary of the General Holding Corporation (Senaat), has signed a strategic agreement with Abu Dhabi Marine Services (Safeen), a subsidiary of Abu Dhabi Ports, valued at AED1 billion ($270mn). The agreement was signed by the Chief Executive Officer of Emirates Steel, Saeed Ghumran Al Remeithi, and Captain Mohamed Juma Al Shamisi, Chief Executive ...

DUBAI / WAM The UAE has managed to achieve a qualitative leap in its economy during the recent years due to the adoption of a forward-looking strategy and in anticipation of strategic plans for the future, according to the Ministry of Economy. This move has strengthened UAE’s position on the map of the world economy, the ministry said in a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the 44th Arab Health Exhibition, which is being held at the Dubai World Trade Centre (DWTC) on Wednesday. His Highness Sheikh Mohammed bin Rashid toured the four-day exhibition, which is hosting many major international companies in the healthcare ...

Bloomberg A month after President Donald Trump said he’d pull US forces from Syria, a critical global security question is unanswered: What to do with hundreds of IS fighters and their families —including Europeans and Americans—held by Kurdish forces in makeshift prisons? US officials estimate there are 800 prisoners who need to be dealt with at a series of Kurdish-run ...

Bloomberg Venezuelan lawmaker Jose Guerra dropped a bombshell on Twitter: The Russian Boeing 777 that had landed in Caracas the day before was there to spirit away 20 tons of gold from the vaults of the country’s central bank. The claim set off a welter of social media speculation and outrage. When asked how he knew this, Guerra provided no ...

Bloomberg Kosovo’s President Hashim Thaci told US President Donald Trump he’s ready to reach a permanent agreement with Serbia. Serbia and Kosovo have been searching for a lasting solution in a process endorsed by the European Union, which asks them to normalize ties in order to join. But the process has stalled over issues including redrawing borders, Kosovo’s creation of ...

Bloomberg British Prime Minister Theresa May promised to renegotiate the most contentious part of her Brexit deal after it was ripped up by Parliament. She will now head to Brussels to face European Union officials who have already warned they won’t even consider her demands, with the threat of economic chaos still looming over her country. In a series of ...

Bloomberg Italian Deputy Prime Minister Matteo Salvini is facing pressure to force an early election this year from lieutenants frustrated by dealing with an unruly coalition partner. Several senior members of Salvini’s League are urging their chief to capitalize on a growing lead in opinion polls to ditch the anti-establishment Five Star Movement which is hampering their efforts to deliver ...