BERBERA/ WAM The Khalifa bin Zayed Al Nahyan Foundation has concluded its third relief operation in Somalia’s Berbera region, distributing food aid packages to 10,000 families affected by the drought. According to a spokesperson from the organisation, the campaign was implemented in accordance with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of …

Bloomberg Dubai’s main equity gauge posted its biggest monthly gain in a year, powered by a revival in the banking sector as better-than-estimated earnings help UAE stocks escape this year’s doldrums. The DFM General Index has surged 4.8 percent in July. In Abu Dhabi, the ADX General Index posted its largest monthly gain in more than two years, advancing 6.6 …

Bloomberg Societe Generale SA said a former trader who insists he was made a scapegoat for the bank’s role in a rate-rigging scandal should face up to criminal charges in the UK before a Paris court rules on his bid for more than $9 million in compensation. The French lender disputed Stephane Esper’s lawsuit at a hearing, saying that employment …

Bloomberg Standard Chartered Plc, one of the biggest financiers of global trade, isn’t losing sleep over an increasingly fractious relationship between the world’s two largest economies. Standard Chartered is well-positioned to deal with the fallout of a lasting dispute between the two nations, the bank said as it reported first-half profit that beat analysts’ estimates. Despite the escalation of US …

Bloomberg Stuart Scott, the former head of currency trading at HSBC Holdings Plc, won a last-ditch battle to block his extradition to the US, where he would face wire-fraud charges. Scott was charged, along with his ex-boss Mark Johnson, by the US Justice Department in July 2016 with front-running a $3.5 billion currency order from Cairn Energy Plc in 2011 …

Bloomberg Jielun Zhu, the former head of Asia healthcare investment banking at Jefferies Financial Group Inc., is joining I-Mab Biopharma Co. as chief financial officer, people familiar with the matter said. In his new Hong Kong-based role, Zhu will focus on helping I-Mab with a planned initial public offering in the city, according to the people. The Chinese biotech firm …

Bloomberg Credit Suisse Group AG global markets unit failed to keep pace with trading gains at Wall Street rivals, prompting CEO Tidjane Thiam to defend the underperforming business. Net revenue at global markets fell 6 percent in the second quarter from a year earlier after declines in fixed income sales and trading and equities. Overall trading revenue at Zurich-based Credit …

Bloomberg Mizuho Financial Group Inc.’s first-quarter profit rose, as gains from fee businesses and sales of its shareholdings helped the Japanese lender offset the effects of the central bank’s continuing monetary stimulus program. Net income climbed 36 percent to $1.4 billion in the three months ending June 30 from a year earlier, the Tokyo-based bank said in a statement. Shares …

Bloomberg BP Plc reported a small and unusual loss from oil trading after being caught on the wrong side of Permian basin pipeline bottlenecks that prompted wild gyrations in US crude prices this year. “A lot of people got a little bit caught up in the bottlenecks in the Permian, we had some of that,” BP Chief Executive Bob Dudley …

Bloomberg Crude dipped this month as a slew of factors from threats of weaker demand to key OPEC producers boosting output has weighed on the market. Futures in New York have lost almost 7 percent in July as some of the largest producers are seen raising supply levels. On Tuesday, prices also declined amid low-volume trading and a strengthening dollar. …