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The Dubai International Financial Centre (DIFC) has implemented the new changes to the Employment Law that require contributions to a savings scheme for Gulf nationals working at the financial hub.

Stock markets in United Arab Emirates declined on Friday, in line with global equities after a bigger-than-expected hike in U.S. inflation dashed hopes of early rate cut. MSCI’S global equity index was down 0.2%, while Hong Kong’s Hang Seng Index slid 1.4%. The mood turned cautious after a bigger-than-expected rise in producer prices in U.S. data on Thursday added to a hot consumer inflation reading earlier in the week.

During the meeting, a number of joint projects and initiatives within the Sectoral Dialogue Partnership between the UAE and ASEAN were discussed, including the development of proposed projects to serve as an action-driven cooperation agenda in coordination with the ASEAN Secretariat