DUBAI / WAM The UAE is set to play a big role in China’s One Belt and One Road Project, as stated on the sidelines of Annual Investment Meeting (AIM), in Dubai. The 9th edition of AIM brought to focus several investments and projects associated with the initiative. Abdulla Al Saleh, Undersecretary for Foreign Trade, UAE Ministry of Economy said, …

Bloomberg Saudi Arabian oil giant Aramco received more than $100 billion in orders for its maiden global bond. The bond sale, the most highly anticipated in recent memory, is set to be the largest-ever in emerging markets and one of just a handful of times that a company anywhere in the world received more than $100 billion in bids for …

Bloomberg The cost of reaching global climate goals is falling rapidly as wind and solar prices plummet and policy makers push electrification as the main tool to cut pollution, the International Renewable Energy Agency said. The group known as Irena revised down its estimates for global investments needed by 2050 in clean energy to meet targets under the Paris Agreement …

Bloomberg Petroleo Brasileiro SA agreed to sell its 90 percent stake in a natural gas pipeline unit to France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec for $8.6 billion. Engie and Caisse prevailed after multiple rounds of bidding for the unit, known as TAG. It is the biggest-ever single asset sale for Petrobras, whose …

Bloomberg Talk of consolidation among Singapore real estate investment trusts ramped up after the regulator strengthened rules governing the market in 2015. Four years on, it’s finally happening. OUE Commercial REIT said it had agreed to buy OUE Hospitality Trust to create one of Singapore’s 10 biggest REITs, giving the combined entity greater firepower to make acquisitions. It’s also the …

Bloomberg US equity futures and European shares edged down after President Donald Trump threatened new tariffs on goods produced in the EU. The dollar slipped while Treasuries nudged higher. Contracts on the Dow, S&P 500 and Nasdaq pointed to a weaker open and the Stoxx 600 Index erased an earlier gain as the European Union prepared retaliatory tariffs in response …

Bloomberg Japan announced new currency note designs today, sending shares of several somewhat obscure companies soaring. Glory Ltd — a provider of cash sorting machines — rallied as much as 19 percent, the most in more than 11 years, after the Ministry of Finance said that it plans to circulate new bill designs by the first half of the fiscal …

Bloomberg The Federal Reserve is proposing a new approach for overseeing foreign banks such as Deutsche Bank AG, Barclays Plc and Credit Suisse Group AG that’s expected to require some of them to hold bigger stockpiles of easy-to-sell assets to guard against losses. Fed board members voted 4-1 to seek comment on its plan for a new system that closely …

Bloomberg President Donald Trump fired a fresh broadside at the Federal Reserve for raising interest rates last year, saying the economy is in good shape “despite the unnecessary and destructive actions” taken by the central bank. In a tweet, Trump added that trade agreements with China, Canada and Mexico are “moving along nicely, there is little or no Inflation, and …

Bloomberg Societe Generale SA said it plans to cut about 1,600 jobs after a slump in trading revenue pushed Chief Executive Officer Frederic Oudea to intensify efforts to boost profit at the investment-banking unit. The reductions include close to 1,200 positions at the global banking and investor solutions division, which houses its trading activities, a trade union representing SocGen’s French …