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Bloomberg Novartis AG’s new gene therapy targeting a disease that kills infants would be cost-effective at as much as $1.5 million, according to a US nonprofit that assesses the value of drugs, well short of the potential price range the company has suggested. Zolgensma, a one-time treatment for a severe genetic disorder called spinal muscular atrophy, would provide substantial benefits ...

Bloomberg Volkswagen AG’s delicate balancing act between the old and new automotive eras will be on full display this week at the Geneva car show, where a fun-loving electric beach buggy will share the limelight with the trusty Passat sedan. VW’s I.D. Buggy concept combines battery power with styling reminiscent of carefree days tearing around California sand dunes, tapping a ...

Bloomberg Aston Martin fell the most since its controversial initial public offering (IPO) last year as the luxury carmaker said some UK and European buyers are delaying purchases amid uncertainty around Brexit. The stock dropped as much as 18 percent and was trading 17 percent lower at 1,138.6 pence in London. That’s less than two-thirds of the 19-pound price at ...

ABU DHABI / WAM A total of AED18.7 billion of dividends have been proposed by as many as 18 listed UAE national banks for 2018, 12.2 percent up from AED16.66 billion in 2017. The growth in dividend distribution reflects robust solvency position of UAE banking sector, reckoned among Mena’s most resilient with estimated AED2.9 trillion of assets by 2018-end. The ...

Bloomberg Uber Technologies Inc. is in advanced discussions to buy Dubai-based Careem Networks FZ, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter. The companies may announce a cash-and-sh-ares transaction that values Careem at about $3 billion in the coming weeks, the people said, asking not to be identified ...

DUBAI / Emirates Business Schneider Electric, the leader in digital transformation of energy management and automation, announced ahead of Middle East Electricity that smart cities are driving the GCC’s smart grid market to $33 billion by 2042. GCC nationwide digital transformation and smart cities are weaving energy efficiency throughout every project — across renewable energy generation, more efficient power distribution ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has launched a new service that will enable customers to collect security deposits and credit refunds from Western Union agents in the UAE and around the world. The service is part of Dewa’s efforts to ensure convenience of customers, by saving them time and effort in implementation of an agreement ...

Bloomberg Kuwait is planning to create a $10 billion fund with China to invest in the two countries, according to people with knowledge of the matter. The Gulf state is discussing the creation of a Kuwait-China Silk Road Fund that would invest in Kuwaiti projects related to the Silk City and islands development, according to the people. It could also ...

Dubai / Emirates Business Sleep apnea is a common chronic disorder affecting about 2-4% of the adult population with highest prevalence in middle aged men. Prevalence of obstructive sleep apnea is very high in Dubai and Middle east according to recent studies. Sleep apnea can affect anyone at any age, even children. Most of the patients are male, obese and ...

Dubai / Emirates Business Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has won the coveted “Best Local Bank in the UAE” award at the EMEA Finance Middle East Banking Awards ceremony held at the Shangri-La Hotel in Dubai. The award was received by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of ...