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 …

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 …