Bloomberg The chairmen of UBS Group AG and Credit Suisse Group AG are exploring a potential merger to create one of Europe’s largest banks, Inside Paradeplatz reported. The project, nicknamed Signal, is driven by UBS Chairman Axel Weber, who is working on it with his counterpart at Credit Suisse, Urs Rohner, the blog said. Weber has discussed the idea with ...

Bloomberg Global stocks climbed after a two-week slump and US futures rallied amid a flurry of deal activity and signs of progress towards a virus vaccine. Travel stocks led gains in the Stoxx Europe 600 Index, while contracts on the Nasdaq 100 Index added 1.4%. The dollar edged lower, gold climbed and Treasuries were little changed ahead of this week’s ...

Bloomberg SoftBank Group Corp. will raise about 1.2 trillion yen ($10.4 billion) from selling about a third of its domestic wireless arm, marking Japan’s biggest secondary share sale in a decade. The Japanese firm said it will sell SoftBank Corp. shares at 1,204.50 yen apiece. Including an over-allotment option, the group will raise about $11.6 billion in total from the ...

Bloomberg South Africa’s main stock index gains 0.4% by 9:49 am in Johannesburg, advancing for the sixth consecutive day, the longest streak of gains since January, as signs of progress toward a virus vaccine lifts risk appetite, driving markets higher. More than 50% of the listed South African companies climb, with the four biggest stocks — Naspers Ltd., Anglo American ...

Dubai / WAM The UAE ranked first among GCC countries in best medical tourism destination globally according to the US-based Medical Tourism Association. Oman ranked second and Bahrain came in at third, while Saudi Arabia and Kuwait were placed fourth and sixth respectively. The ranking in the index is based on a variety of factors, Association said and added that ...

Bloomberg It was meant to be the week when the Organisation of Petroleum Exporting Countries (Opec) nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Opec and its allies will convene online, and reflect on whether the coranavirus has thwarted their best efforts to keep the market afloat. After ...

NEW YORK / WAM The UAE reiterated its continued commitment to upholding the rights of children around the world, particularly those in conflict situations, including by protecting schools and preventing grave violations, as well as protecting the right to education and the need to provide opportunities for fulfillment and growth to the most vulnerable. The UAE stated that protecting education ...

Dubai / WAM Dubai South Properties announced that investments in its first leasehold staff accommodation development, Sakany, have reached AED500 million, helping to position the project as a regional benchmark for safe and secure housing for blue collar workers. The welfare of residents is central to the Sakany project, reflected in its first-rate leisure facilities and well-equipped medical rooms. There ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) has confirmed that higher education institutions making only zero-rated and/or standard-rated supplies may recover input tax in full, except where recovery is specifically blocked. Blocked input tax includes value-added tax (VAT) incurred on certain entertainment services, and motor vehicles that have been purchased, leased, or rented and made available for personal ...

Abu Dhabi / WAM Etihad Airways announced that it has partnered with Singapore food technology startup Lumitics to trial the use of computer vision and machine learning in order to reduce food wastage on Etihad flights. The partnership will see Etihad and Lumitics track unconsumed Economy class meals from Etihad’s flights, with the collated data used to highlight food consumption ...