Bloomberg Deutsche Bank AG, the struggling German lender that’s in talks about a merger with Commerzbank AG, is weighing giving up as many as three of the 10 floors it occupies in Hong Kong’s tallest skyscraper, people with knowledge of the matter said. Deutsche Bank signed the 10-year lease in the 484 meter (1,588 feet) International Commerce Centre in 2010 ...

Bloomberg Bank of America Corp. (BofA) has bought its biggest distressed asset in India, adding to a growing trend of foreign investors diving deeper into the country’s massive pile of bad debt. A group of investors led by the US bank have paid 33 billion rupees ($479 million) for soured loans of a beleaguered Indian maker of cast iron pipes, ...

Bloomberg The European Central Bank (ECB) is approaching the point where it needs to decide whether if negative interest rates are more problem than solution. Since officials pushed back plans to tighten policy, warnings have increased that the potency of a key instrument used to rekindle growth in the 19-nation bloc is diminishing the longer it remains in place. France’s Francois ...

Bloomberg UBS Group AG is adding tech bankers ahead of what promises to be a busy year for initial public offerings and technology banking transactions. The Zurich-based bank hired Bob Casey and Robert Jackman to join its US technology investment banking team, according to a memo sent by Jason Auerbach, UBS’s head of technology banking for the Americas. They are ...

Bloomberg Federal Reserve officials say they’re willing to tolerate an overshoot of their inflation goal. If the opposite happens, the plan is less clear. Core inflation, excluding energy and food prices, is currently just shy of the central bank’s 2 percent target. Most economists and policy makers see that lasting, though there’s no guarantee: Inflation expectations have been stuck on ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday signed a volume commitment extension agreement for 2019 with the global shipping company AP Moller — Maersk to transport EGA’s aluminium to customers around the world. EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. ...

Abu Dhabi / WAM The UAE’s two main bourses secured AED11.5 billion in gains on Monday, the highest in months, driven by the realty and banking sectors. Amidst high sentiments, General Index of the Dubai Financial Market increased 1.63 percent, closing high at 2619 points, with General Index of the Abu Dhabi Securities Exchange following suit, ending the session up1.8 ...

DUBAI / WAM An Italian delegation led by Liborio Stellino, Ambassador of Italy to the UAE, has visited Dubai Electricity and Water Authority (Dewa), and discussed ways to enhance strategic partnerships between Dewa and Italian organisations, and exchange best global experiences and practices. This is one of a series of visits by diplomatic and consular officials to Dewa to consult ...

Bloomberg Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the United Arab Emirates, agreed to go beyond their pledged supply curbs ...

Dubai / Emirates Business Huge crowds thronged Thumbay Hosiptal – Dubai to take part in the ‘Walk for the Tolerance Walkathon’ organised by the hospital. Around 1600 people from all walks of life belonging to different nationalities and age groups marched in celebration of the UAE’s observance of 2019 as the Year of Tolerance, in line with the founding ethos ...