DAMMAM / WAM The UAE needs to invest at least $33bn to meet its expected additional 16GW capacity requirement over the medium term, the Arab Petroleum Investments Corporation (Apicorp) forecasted in its latest research report, published on Tuesday. The country is pushing strongly to diversify its energy sources in the power mix, and Apicorp estimates that nearly 10GW of capacity …

Bloomberg US stocks rose amid better-than-expected earnings from several industry heavyweights, adding to evidence that the strengthening economy is lifting corporate profits. The S&P 500 Index pushed through its average price for the past 50 days, a level it hasn’t breached in a month. Netflix Inc. surged after subscriber growth topped estimates. Johnson & Johnson and UnitedHealth Group Inc. climbed …

Reuters Saudi Arabia’s stock market continued a strong uptrend on Tuesday on the back of petrochemical and banking stocks, while rising telecoms shares boosted Egypt. The Saudi index closed 0.6 percent up at 8,096 points, having finished above 8,000 points on April 16 for the first time since August 2015. Petrochemicals giant Saudi Basic Industries rose 1.9 percent before going …