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Dubai / WAM The Central Bank of the United Arab Emirates has decided to amend the terms governing personal loans and finance transfer from one bank or finance company to another, obligating banks and finance firms to reduce the interest rate and not to increase payment period of retail loans, which will be provided after the issuance of the new ...

Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (FANR) convened its fifth meeting at the site of the Barakah Nuclear Power Plant, where it reviewed progress of its operational activities and discussed a number of initiatives planned during this year. During the meeting, the Board learned about latest updates of the FANR ...

Bloomberg Deadly politically tinged violence that stunned the nation last week likely will sharpen the hard partisan edge that is defining the first midterm election of Donald Trump’s presidency. Grief and calls for civility have been replaced by finger-pointing by some members of both parties, including Trump, who blamed the news media for fostering hate just days after he made ...

Bloomberg US President Donald Trump said he plans to sign an executive order ending birthright citizenship for babies of non-immigrants and unauthorised immigrants born on US soil, according to excerpts of an interview released on Tuesday. “We’re the only country in the world where a person comes in and has a baby, and the baby is essentially a citizen of ...

Bloomberg Russia has sent a senior delegation to Venezuela to consult high-ranking government officials on a plan to stem the brutal economic collapse in a key Kremlin ally. Venezuela is reeling from the impact of US sanctions and low oil prices. Russia, which has maintained close ties with the leftist government of President Nicolas Maduro and provided a lifeline in ...

Bloomberg Typhoon Yutu slammed into northern Philippines on Tuesday and is travelling a path similar to last month’s super storm Mangkhut that killed at least 82 people and damaged about $500 million of farm output in the Southeast Asian nation. More than 10,000 people were moved to safer grounds before Yutu came ashore. As many as 12 million people are ...

Bloomberg Mongolia’s president said he may go on a hunger strike or stage a sit-in as a last resort to pressure the North Asian nation’s parliament to voluntarily disband after he criticized it for failing to stand up to economic challenges. President Khaltmaa Battulga, who has only has limited power to introduce and veto legislation, made the suggestion in a ...

Bloomberg Keep pouring money into coal-fired plants and it won’t be just the fuel that’s getting burned. As much as $60 billion of coal power assets may be stranded in the next decade across Vietnam, Indonesia and the Philippines, according to a new study by Carbon Tracker, which cited tighter environmental policies and competition from cheaper renewable energy. That analysis ...

Bloomberg India’s top court has directed the federal electricity regulator to decide within 8 weeks on approving revised tariffs for three power producers in the western state of Gujarat due to increased cost of imported coal. The Gujarat government sought the top court’s intervention to implement a state government panel’s report that recommended implementing a cost-reflective tariff, which would mirror ...

Bloomberg Simec Atlantis Energy Ltd., a renewable energy developer, plans to extend its tidal stream project in Scotland by adding two new turbines. The MeyGen facility currently has a capacity of 6MWs, and the extension will bring it to 10MWs. It’s partially funded by a $19mn support package from the European Commission. Atlantis is trying to bring costs down by ...