Dubai / Emirates Business Majid Al Futtaim—the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia—is giving shoppers a chance to win their dream vacation this year with free Air Arabia tickets as part of the ‘For the Love of Travel’ initiative at City Centre Sharjah and City Centre Ajman until April 30. If …

Bloomberg French oil giant Total SA said last month it had acquired Marathon Oil Corp.’s assets in Libya in a $450 million deal. Not so fast, says the country’s state energy company. Libya’s National Oil Corp. hasn’t yet approved the transaction and is “discussing arrangements” for the proposed sale with the country’s presidency council, Chairman Mustafa Sanalla said on Monday. …

Bloomberg China aims to supply a new economic zone being built near Beijing, known as the Xiongan New Area, with 100 percent clean electricity, according to the Xinhua News Agency. The goal is part of an ambitious plan by President Xi Jinping to remake a backwater region into a glittering new technology and innovation hub. Electricity will account for more …

Bloomberg Jordan is pressing ahead with its first electricity storage project to bolster its expansion in solar and wind generation. The Middle Eastern kingdom expects to sign a contract for a 30-megawatt battery in the third quarter, according to Energy and Mineral Resources Minister Saleh Al Kharabsheh. The project, which was tendered last year, will help ensure the country has …

Bloomberg Scandals, bad debts, ATM cash shortages — India’s banking system has experienced them all in recent months and the bad run is starting to have repercussions for both the broader economy and Prime Minister Narendra Modi. India’s nearly $1.7 trillion formal banking sector is coping with $210 billion of soured or problem loans, and some regional banks have been …

Bloomberg Saudi Arabia’s central bank plans to drain excess liquidity from the banking system to mitigate pressure on the riyal’s peg to the dollar as US interest rates rise, Governor Ahmed Abdulkarim Alkholifey said. The Saudi Arabian Monetary Authority, as the central bank is known, will allow some deposits placed with commercial banks in 2016 to mature without rolling them …

Bloomberg SBM Holdings Ltd., owner of Mauritius’s second-biggest bank, said it expects to be one of Kenya’s largest lenders within a year after acquiring part of Chase Bank Kenya Ltd., while remaining open to more deals in the country. The purchase, signed off by Kenya’s central bank last week, will increase competition among lenders in East Africa’s biggest economy, where …

Bloomberg UK Chancellor of the Exchequer Philip Hammond has indicated a willingness to look abroad when he begins his search for a successor to Bank of England Governor Mark Carney. Canadian-born Carney is due to step down at the end of June 2019 after becoming the first foreigner to run the UK central bank in its three centuries. Hammond declined …

Bloomberg Techcombank, the Vietnamese lender backed by Warburg Pincus, and some existing investors are poised to raise about 21 trillion dong ($922 million) in a domestic ini- tial public offering, people with knowledge of the matter said. The bank is planning to price the sale of 164.1 million shares at 128,000 dong each, the top end of a marketed range, …

Bloomberg Latvia’s financial investigators will receive more US help as the Baltic nation races to emerge from a money-laundering scandal that toppled its third-largest lender. Finance Minister Dana Reizniece-Ozola has agreed technical assistance from the US Treasury Department for the country’s financial intelligence unit following her meetings with US officials in Washington. She doesn’t expect other Latvian institutions to follow …