Dubai / Emirates Business UAE-based telecommunications service provider – du, announced the establishment of UAE 5G Innovation Gate (U5GIG). The U5GIG has been envisioned to be a consortium of technical and academic organisations in UAE as well as global telecom vendors to plan and use their expertise to define and develop a global 5G network that will radically change ...

  Dubai / Emirates Business dubizzle – the UAE’s leading classifieds property platform – released its Q2 2016 property report, revealing a mild decline in rental prices and a bottoming out of property sale prices in Dubai, as well as a decline in Abu Dhabi prices, compared to Q1 2016. With over 5 million monthly active users, and more than ...

  AP Three Egyptian dailies said that Cairo was proposing to IMF delegates an 18-month reform program in return for a $12 billion loan over three years to shore up its economy, but that differences remained between the two sides on how to proceed. The reports by the privately-owned Al-Shorouk, Al-Masry Al-Youm and Al-Watan said the two sides were at ...

  AP An informal OPEC meeting next month is unlikely to deliver any agreement to limit production because several members including Iran are still pumping below capacity. Members of the Organization of Petroleum Exporting Countries are planning to hold talks in Algeria next month when they gather for a meeting of the International Energy Forum, the group’s president Mohammed Al ...

  Bloomberg Iran’s biggest oil buyer in India is ready to throttle back imports from the Persian Gulf nation once a new supply deal kicks in. Essar Oil Ltd. expects to lower purchases from Iran after shipments from OAO Rosneft begin once the Russian state producer completes a deal to buy a stake in the Indian company, according to Lalit ...

  Bloomberg SM Energy Co.’s $980 million purchase of drilling rights in the biggest U.S. crude field indicates producers are willing to pay a premium for access to one of the few spots where oil exploration still turns a profit. SM, which extracts oil and natural gas from the Rocky Mountains to the Gulf Coast, agreed to pay the equivalent ...

  Bloomberg India’s central bank Governor Raghuram Rajan left interest rates unchanged at his last policy review as food prices threaten to push inflation above the nation’s target. The benchmark repurchase rate will stay at a five-year low of 6.50 percent, the Reserve Bank of India said in a statement in Mumbai on Tuesday. The move was predicted by 27 ...

  Bloomberg Australia & New Zealand Banking Group Ltd. shares rose to a seven-month high after the lender said it had boosted capital and reduced low-returning assets, while the bank’s chief executive officer indicated expenses for bad debts will remain steady. The stock jumped as much as 3.7 percent in Sydney even after Melbourne-based ANZ said adjusted proforma unaudited cash ...

  Bloomberg Bank of England (BOE) policy maker Ian McCafferty said that officials will likely ease policy again if the economy develops in line with the central bank’s forecasts — though they should take a gradual approach. “More easing is likely to be required” if the UK economy slows as initial survey data suggests, McCafferty said in an opinion piece ...

  Bloomberg New Zealand central banker Graeme Wheeler is going to need more than a plain-vanilla rate cut if he wants a weaker local currency. Investors are certain the Reserve Bank will reduce its official cash rate Thursday by at least a quarter point to 2 percent, a record low, and most expect it will deliver another cut to 1.75 ...