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BLOOMBERG The US and the Philippines promised to deepen their defense alliance through expanded military drills and joint patrols during President Ferdinand Marcos Jr’s visit at the Pentagon where he was given rare honours, amid escalating China tensions. In new bilateral defense guidelines, the nations reaffirmed their commitment to defend each other in case of an armed attack in the ...

BLOOMBERG Donald Trump says Elon Musk’s release of internal files at Twitter Inc show it was illegal censorship when he was banned on the platform for stoking the January 6 insurrection. The ex-president said in a court filing it’s not enough that Twitter, under the new ownership of Musk, welcomed him back onto the platform late last year — an ...

BLOOMBERG The European Union (EU) is considering ways to target third countries seen as doing too little to stop Russia evade sanctions, particularly those that can’t explain spikes in trade of key goods or technologies, according to people familiar with the matter. Ukraine’s President Volodymyr Zelenskiy visited the International Criminal Court in The Hague, where he urged the creation of a ...

BLOOMBERG  UniCredit SpA raised its full-year profit target and said it will boost shareholder payouts, after a surge in lending revenue helped the bank post its best-ever first-quarter. The Milan-based bank expects adjusted profit this year above €6.5 billion ($7.2 billion) and investor returns about €500 million higher, according to a statement. Key performance metrics for the period — including ...

BLOOMBERG  The Asian Development Bank (ADB) announced a new programme for financing efforts to counter climate change, stepping up its attempt to back one of its main focusses in the region. The Innovative Finance Facility for Climate Change in Asia and the Pacific (IF-CAP) could create up to $15 billion in new loans, through a goal of $3 billion in ...

NEW YORK / WAM The COP28 Presidency and the COP28 Youth Climate Champion (YCC) team rolled out a series of engagement events for youth during the United Nations Economic and Social Council (Ecosoc) Youth Forum in New York with over 200 youth participants. Highlighting the essential role of youth in climate action, the first event, ‘Harnessing the Power of Youth ...

BERN / WAM The UAE, represented by the Ministry of Finance (MoF), has held the fifth financial dialogue with the Swiss Confederation in the Swiss capital, Bern. Both parties discussed bolstering strategic relations and bilateral cooperation in various development, economic and financial fields of common interest. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, headed the UAE delegation. ...

ABU DHABI / WAM Held under the patronage of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, attended the 20th Sheikh Khalifa Excellence Award (SKEA). HH Sheikh Khaled bin Mohamed bin Zayed awarded the 18 winners ...

BLOOMBERG Nordstrom Inc plans to give up its store in downtown San Francisco, becoming the latest retailer to depart the area as the city struggles with emptied office buildings and crime concerns. “The dynamics of the downtown San Francisco market have changed dramatically over the past several years, impacting customer foot traffic to our stores and our ability to operate ...

BLOOMBERG Air France is pressing the French government to limit Chinese airlines’ access to the country, saying they enjoy an unfair advantage because they can fly over Russian airspace closed to many other carriers. The French arm of Air France-KLM wants President Emmanual Macron to introduce taxes or other measures that would create a similar cost base between Air France ...