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SALALAH / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led the UAE delegation participating in the 65th GCC Trade Cooperation Committee meeting, the 51st GCC Industrial Cooperation Committee meeting, and the sixth meeting of the GCC Ministerial Committee for Standardisation. The UAE delegation that attended these meetings in Salalah, Oman, included Abdullah Ahmed Al ...

DUBAI / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No. (13) of 2023 instituting the Hamdan bin Rashid Al Maktoum Establishment for Medical and Educational Sciences. He also issued Decree No. 32 of 2023 appointing Sheikh Rashid bin Hamdan bin ...

BLOOMBERG European stocks were little changed and the euro edged higher as traders braced for the European Central Bank’s (ECB) interest-rate decision. The Stoxx 600 was steady, while S&P 500 futures climbed after Wednesday’s US inflation report was in line with estimates, fanning hopes the Federal Reserve will pause rate hikes. The dollar weakened against its Group-of-10 peers and oil ...

BLOOMBERG The yuan is set to bounce as the government’s efforts to boost consumption bear fruit and the lure of higher-yielding assets abroad diminishes, according to the offshore wealth arm of Citic Securities Co. The currency is likely to gain 5% versus the dollar over the next year or two as economic data start to show measures to bolster demand ...

BLOOMBERG National Australia Bank (NAB) is planning to close its Hong Kong office and consolidate operations into mainland China, Singapore and Japan. The closure of the office will take place over the next 18 months, Krista Baetens, a Singapore-based NAB executive, said in a statement. The Australian Financial Review earlier reported the decision, saying the office houses about 50 staff ...

BLOOMBERG Laurentian Bank of Canada ended its strategic review without finding a buyer and plans to carry on as an independent firm with a slimmer management team. The company’s shares plunged. The Canadian bank announced in July it was examining its options. It hired JPMorgan Chase & Co to run the process and considered a number of possibilities, including a ...

BLOOMBERG Toyota Motor Corp’s quarterly profit exceeded estimates as improvements in supply of semiconductors and a weak yen helped it capitalise on a global rebound in demand for vehicles. The stock closed at a record high. Operating profit for the three months through June was a record ¥1.1 trillion ($7.7 billion), the world’s No 1 carmaker said in a statement. ...

BLOOMBERG BMW AG will invest in the 110-year-old plant where the Mini brand was born to make electric models, tapping the UK government for support in the fight to prop up the country’s flagging automaking industry. The company’s more than £600 million ($751 million) outlay averts what would have been a disaster for the UK, where car production slumped last ...

ABU DHABI / WAM HH Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, on Thursday met with Alexandre Zouev, Assistant Secretary-General for Rule of Law and Security Institutions at the United Nations. During the discussion held in Abu Dhabi, Sheikh Saif and the UN official explored various topics concerning bolstering cooperation in ...

DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has organised two training programmes in collaboration with the International Labour Organisation (ILO), designed to upskill MoHRE inspectors, providing them with the necessary abilities to perform their duties in line with the highest international quality standards. Organising the programmes, which were attended by 30 inspectors, forms part of a ...