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 ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has launched a new service that will enable customers to collect security deposits and credit refunds from Western Union agents in the UAE and around the world. The service is part of Dewa’s efforts to ensure convenience of customers, by saving them time and effort in implementation of an agreement ...

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 ...

Dubai / Emirates Business Sleep apnea is a common chronic disorder affecting about 2-4% of the adult population with highest prevalence in middle aged men. Prevalence of obstructive sleep apnea is very high in Dubai and Middle east according to recent studies. Sleep apnea can affect anyone at any age, even children. Most of the patients are male, obese and ...

Dubai / Emirates Business Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has won the coveted “Best Local Bank in the UAE” award at the EMEA Finance Middle East Banking Awards ceremony held at the Shangri-La Hotel in Dubai. The award was received by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of ...

Dubai / WAM The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF), announced it will be extending the fifth Nobel Exhibition, held in collaboration with the international Nobel Foundation at Dubai’s La Mer, until March 30. The decision came following directives of the MBRF Chairman, HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, and as a result of the ...

ABU DHABI / WAM The Emirates Authority for Standardisation and Metrology (Esma) developed its eighth national energy efficiency programme, the TV Efficiency Project, which is expected to reduce the cost of electricity bills by some 50 percent, as well as reduce government subsidies for electricity generation costs, as part of the UAE Green Growth Strategy. The UAE Cabinet has approved ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Sunday received the credentials of several foreign ambassadors to the UAE at the Presidential Palace in Abu Dhabi. HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, was also present. His Highness received the ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and Pat Breen, Minister of Trade, Employment, Business, as well as European Union (EU), Digital Market and Data Protection of Ireland, discussed ways of reinforcing economic and commercial cooperation between the UAE and Ireland. The meeting, which took place in Dubai on the sidelines of the 9th Emirati ...