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Bloomberg Trade negotiators led by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week, the White House said, as both sides work to reach a draft agreement by next month. Talks starting next Tuesday “will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agr- iculture, services, purchases and enforcement,” the …

ABU DHABI / WAM Etihad Cargo on Wednesday celebrated its position as a market leader in the air cargo digitalisation and innovation community, six months after migrating to a new technology platform. Last year, the carrier saw the introduction of several transformative programmes across its fleet and network, commercial and operational processes, and its physical and digital infrastructure. This culminated …

Bloomberg Crude leapt to its highest level in almost six months after the Trump administration said it wouldn’t renew Iran oil waivers for China, India and other countries once they expire in May. Futures in London traded near $74 a barrel after jumping as much as 3.3 percent and reaching the highest since early November in anticipation of the statement …

DUBAI / Emirates Business The digital transformation of the Middle East and North Africa (Mena) small- and medium-sized enterprises and smart cities is driving regional software spend to top $6 billion, industry experts announced on Monday. The Mena region is a fast-growth market for digital transformation, as organisations look to gain greater business agility, better understand customer needs and trends, …

Bloomberg Bahrain-based Gulf International Bank converted its Saudi operation into a locally incorporated bank with 7.5 billion riyals ($2 billion) capi- tal, as the lender looks to boost its presence in the kingdom. The bank’s Saudi arm will be owned equally by GIB, as the Bahraini lender is known, and Saudi Arabia’s Public Investment Fund, according to a statement. Abdulla …

DUBAI / WAM UAE stocks maintained their upward movement and gained around AED6.2 billion in market cap at the end of the Sunday session, driven by a spree of selective purchases targeting blue chips and positive quarterly statements announced by the leading listed companies. Amidst the overall bullish sentiments, the general index of the Abu Dhabi Securities Exchange closed at …

Emirates Business To the tune of AED39 billion in cash dividends have been paid out by listed Emirati companies for their stockholders for the year 2018. The generous cash distributions, which earn the UAE companies the lead over other Middle East-based firms in terms of dividend payouts, are reflective of the high-yield stocks traded in the country’s two main bourses …

Bloomberg Eni SpA signed an exploration and production agreement wi-th emirate of Ras Al Khaimah, a further push by the Italian company into the Middle East. The deal between the Rome-based hydrocarbons producer and RAK Petroleum Authority will cover Block A, which includes an area of 2,412 sq kms off the coast, according to a statement from Eni. Eni will …

Bloomberg Hedge funds are betting rising tensions around the globe will keep fueling oil’s rebound this year. Money managers boosted optimistic wagers on West Texas Intermediate crude to the highest since October in the week ended April 16, according to government data released. Total long and short positions swelled to the most in six months, a sign the rally is …

DUBAI / WAM Abdul Rahman bin Mohammed Al Owais, Minister of Health and Prevention (MoHAP) met with Dr Amrit Ray, Global President, R&D and Medical, Pfizer EMB, to discuss the possibility of establishing a scientific research and excellence hub in the UAE. Al Owais and Dr Ray also discussed mutual efforts to fight chronic diseases and develop innovative and integrated …