DUBAI / Emirates Business The value of announced deals with disclosed value in the Mena region increased by 105% to $10 billion (AED36.7 billion) in third quarter of 2018 from $4.9 billion in the same period last year, according to the EY Q3 Mena M&A report. Deal value remained consistent year-on-year. As many as 107 deals were announced in Q3 …

Dubai / Emirates Business Small and medium-sized enterprises (SMEs) are playing a vital role in expanding trade ties between the UAE and Caribbean region, according to the heads of chambers of commerce who spoke at the inaugural UAE-Caribbean Coopera- tion Forum in Dubai. During the forum, a panel discussion titled ‘the role of the private sector in building a connected and …

Bloomberg Federal Reserve Chairman Jerome Powell and his colleagues are likely to turn more wary about marching interest rates higher after delivering a widely anticipated quarter percentage-point increase in December. Prospects for slowing global economic growth, fading US fiscal stimulus and volatile financial markets all argue for more caution once officials lift rates next month near or into neutral territory, …

Bloomberg The Bank of England (BOE) may need to increase interest rates at a quicker pace than currently envisaged by markets, according to policy maker Michael Saunders. Spare capacity in the economy has been used up, and, assuming Brexit reaches a smooth conclusion, inflationary pressures will probably build somewhat faster than officials predicted in their latest projections, Saunders said in …

Bloomberg India’s government wants to discuss changes to the Reserve Bank of India’s governance structure at a board meeting next month, including setting up some oversight panels, Economic Secretary Subhash Chandra Garg told ET Now. Garg, who is a government nominee for the RBI board, told another television channel CNBC-TV18 that the administration will ask for more interim dividends from …

Bloomberg Italy’s central bank warned that low growth and high public debt pose the greatest risks to financial stability, while further sovereign bond market tensions would hurt banks’ capital and the solvency position of insurers. In its Financial Stability Report, the Bank of Italy outlines risks arising from uncertainty about the economic and fiscal policy in the country, which led …

Bloomberg Nigeria’s base interest rate is becoming more and more irrelevant. That’s the view of some analysts after the Monetary Policy Committee in Africa’s biggest oil producer held its key rate for the 14th straight meeting, despite inflation being above its target range of 6 percent to 9 percent for more than three years. Central bank Governor Godwin Emefiele is …

Bloomberg Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. Petroleos de Venezuela SA’s refineries are running at less than a quarter of their capacity, forcing the country to rely on imported gasoline. Once the cargoes are unloaded at import docks, smaller ships distribute fuel to terminals along the coast, …

Bloomberg The UK might fail to honour commitments relating to emergency fuel stockpiles as its exit from the European Union approaches, a trade group representing the nation’s oil refiners said. Europe manages its fuel inventories as a bloc, so part of the UK’s emergency stocks can be held in other member states. In some cases, the fuels are held by …

Bloomberg PG&E Corp’s financial pain is spreading to some of the power plants that sell it electricity. Fitch Ratings Ltd downgraded the debt of two solar farms in California, citing concern about PG&E’s finances. The utility, which was downgraded last week, is the sole electricity customer for Berkshire Hathaway Energy’s 550-megawatt Topaz Solar Farms and NextEra Energy Inc’s 250-megawatt Genesis …