MUKALLA / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 80 tonnes of food and relief assistance to needy Yemeni families in eastern Mukalla, Hadramaut Governorate, as part of the UAE’s efforts to ease their suffering and improve their living conditions. ERC teams distributed 1,000 food baskets that benefitted 5,000 members of local families. The beneficiaries …

Bloomberg Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to reports. The government is close to hiring banks for the possible sukuk sale. A sale would come just weeks after attacks on the kingdom’s oil facilities slashed Saudi Aramco’s crude output by …

Bloomberg The natural gas boom is killing America’s nuclear industry. Wind and solar may finish the job. While nuclear plants struggle to compete with the flood of cheap gas coming from the nation’s shale fields, they still offer a key advantage, supporters say: They generate 24-hour electricity without producing carbon emissions. Renewables, meanwhile, haven’t yet nailed down the storage capacity …

Bloomberg South Africa raised prices on gasoline and diesel prices for October, blaming the attack on Saudi Arabia’s crude oil infrastructure for the increase. “Had it not been for the stronger rand during this period, the impact of the attacks on Saudi facilities on prices would have been more severe,” Gwede Mantashe, the minister responsible for mining and energy, said …

Bloomberg The Federal Reserve’s new round of interest-rate reductions just might be working. At least, that’s what one obscure, but key, stock market indicator suggests. For the first time since 2016, companies with fragile balance sheets are outperforming their sturdier peers and the broad market, a pair of Goldman Sachs indexes show. That’s a clear sign that the rate cuts …

Bloomberg Bitcoin’s 20 percent drop was likely fuelled by the effect of Intercontinental Exchange Inc’s (ICE) new futures contracts and an unwinding of long positions, according to JPMorgan Chase & Co. The cryptocurrency’s plunge, its biggest in a week since last November, took it from around $10,000 to a close of $8,061. Though the strategists led by Nikolaos Panigirtzoglou were …

Bloomberg The scene: a street in Zurich. The mark: a wealthy Swiss banker. His pursuers: hired goons looking for intel. It sounds like something ripped from John Le Carre. In fact, it’s real-life — and not all that unusual in the world of high finance. News that Credit Suisse Group AG had hired private investigators to tail a star banker …

Bloomberg India’s central bank placed lending restrictions on Lakshmi Vilas Bank Ltd, adding to the company’s troubles after its chief executive officer abruptly quit last month and police registered a case of alleged fraud. Lakshmi Vilas Bank, which is seeking a merger with financier Indiabulls Housing Finance Ltd to reduce its delinquent debt, was informed it would be brought under …

Bloomberg A reduction of Greece’s fiscal targets would support the country’s economic and social recovery, the International Monetary Fund said. In 2020, the IMF recommends that “the government and European partners build consensus around a lower primary balance path, given ample economic slack and critical unmet social spending and investment needs,” according to the fund’s statement after the conclusion of …

Bloomberg Jefferies Financial Group Inc’s earnings took a hit from an unlikely source: WeWork’s dropping valuation. Third-quarter revenue came in below even the lowest analyst expectationas the company’s merchant banking unit wrote down the value of its investment in We Co by $146 million. Net revenue fell slightly to $777 million despite increases in both fixed-income and equities trading, Jefferies …