DUBAI / Reuters Middle Eastern stock markets may have an upward bias on Sunday because of a gradual recovery in oil prices and in Egypt’s case, last week’s interest rate cut, although there appears to be little reason for any strong rise in equities. Wall Street closed marginally firmer while Brent oil continued its gradual recovery, settling up 51 US …

Bloomberg India’s state-owned UCO Bank said it has exposure of $411.8 million in the nearly $2 billion bank fraud perpetrated against Punjab National Bank, a case linked to billionaire jeweler Nirav Modi. UCO Bank’s Hong Kong branch granted loans against letters of credit issued by PNB, UCO Bank said in a filing with the Bombay Stock Exchange. Other banks, including …

Bloomberg Authorities in Italy searched the headquarters of the country’s biggest phone carriers as part of an antitrust probe over pricing of mobile and fixed-line services. Financial police and officials from the Italian Antitrust Agency searched offices in Rome and Milan of Telecom Italia SpA, Vodafone Group’s local unit, Swisscom AG’s Fastweb, Wind Tre and industry lobby Asstel, the regulator …