DAMMAM / WAM The Middle East and North Africa (Mena) will need investments of approximately $180 billion to add a capacity at 7.4% annually until 2021, which corresponds to additions of more than 130GW, according to estimates by Arab Petroleum Investments Corporation (APICORP). ‘‘Governments continue to meet this challenge by expediting new projects and upgrading their infrastructure to meet increasing ...

DUBAI / Reuters Emirates NBD said it had started initial strategic discussions with Russia’s Sberbank about a possible purchase of Sberbank’s stake in Turkey’s Denizbank. Emirates NBD has previously acquired BNP Paribas’ Eygptian banking business and has been scouting for opportunities in the Turkish banking sector for several years as part of its international expansion. Moscow-based Sberbank was evaluating opportunities ...

DUBAI / WAM Dubai Startup Hub, an initiative of the Dubai Chamber of Commerce and Industry, announced the signing of several deals between four leading UAE-based corporates and organisations, namely Dubai Chamber, flydubai, Emirates NBD, and Fiat Chrysler Automobiles, and the three winning start-ups of the MarketAccess programme. Memoranda of understanding (MoUs) were unveiled on Tuesday during a deal signing ...

Bloomberg US stocks are on pace for the biggest two-day decline since August, while yields on benchmark government bonds are near April 2014 highs, as caution creeps into markets after one of the best starts to a year in recent history. The S&P 500 Index fell the most in seven weeks and the Dow Jones Industrial Average slumped more than ...

Bloomberg Health-care stocks slumped after three companies led by Internet giant Amazon.com Inc. said they plan to collaborate on developing ways to cut the cost of employee health care. Pharmacy-benefit manager Express Scripts Holding Co. fell as much as 11 percent, the most intraday since April, at the open of US trading on Tuesday, while rival CVS Health Corp. dropped ...

Bloomberg The US Securities and Exchange Commission obtained a court order freezing the assets of an Texas-based initial coin offering (ICO) that claimed to have raised more than $600 million. The order filed in federal court in Dallas halts AriseBank from raising any additional cash from investors, according to a statement from SEC. The agency alleges Jared Rice, 29, illegally ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Highness Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi Ruler’s Representative in Al Ain Region, have received a number of dignitaries and state representatives of neighbouring Arab nations, who came to pay their ...

ABU DHABI / WAM HH Sheikh Saeed bin Tahnoun bin Mohammed Al Nahyan has mourned the death of Sheikha Hessa bint Mohammed Al Nahyan, the mother of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. In a statement, Sheikh Saeed bin Tahnoun expressed his sincere condolences to President HH Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohamed bin Zayed ...

MADRID / WAM King Felipe VI of Spain received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in Madrid and expressed the importance of enhancing cooperation between the two countries in various fields. King Felipe and HH Sheikh Abdullah discussed ways to strengthen historical bilateral relations between the UAE and Spain and ways ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Tuesday received Pavel Filip, Prime Minister of Moldova, and his accompanying delegation. Sheikh Mohammed welcomed Filip and discussed with him a number of issues related to developing friendly relations and cooperation between the two countries, and building ...