Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

EDUCATION TOP STORIES

110 UAE students get GEMS scholarship worth $571,735

110 UAE students get GEMS scholarship worth $571,735 (dh 2.1mn)

Full scholarship awarded to students excelling in academics, sports, creative and performing arts, along with other disciplines

This scholarship will be the largest of its kind in the country and will recognise outstanding achievement and promise across various categories.

It is open to any student in Grade 6 or Year 7 and above, and will cover up to 100% of tuition fees for academic year 2018-2019.

This year’s scholarships recognised exceptional talent across five categories, with 49 awarded for Academics, 39 for Sports, 14 for Creative and Performing Arts, five for Innovation and Digital Technology, and three for Arabic Studies. The ceremonies were held in  16 GEMS Education schools across the UAE, presenting an opportunity to officially mark the occasion and celebrate with scholars, parents, and teachers.

GEMS Dubai American Academy in total, awarded 18 scholarships—the highest number among all the schools. This was followed by GEMS International School—Al Khail with 13, and GEMS World Academy—Dubai with 12.

Meanwhile, the awards event held at GEMS Wellington International School — Dubai was attended by special guest Dr Abdullah Al Karam, Chairman of the Board of Directors and Director-General of the Knowledge of Human Development Authority.

On the scholarships, Christophe Savard, Vice President — Career and Future Employment Architect, who oversees GEMS Education’s scholarship programme, stated: “Our mission at GEMS Education is to make quality education accessible for everyone, which is why we are delighted to be in a position to offer scholarships to over 100 of our most gifted students, all of whom show great ability and potential. We are proud to be able to support their development both educationally and financially, and we wish them continued success as they progress in their individual areas of strength.”

GEMS Education scholarships are open for applications between September 1 and January 31 for Indian curriculum schools, and January 1 to March 31 for schools with other curriculums.

They are strictly merit-based, and take into consideration student essays, letters of recommendation and student introductions.

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