Bloomberg Zimbabwe’s biggest bank plans to buy several smaller lenders in a consolidation drive to leave the troubled southern African nation with fewer, stronger institutions, according to two people with direct knowledge of the matter. CBZ Holdings Ltd., majority-owned by the government, is in talks with the Reserve Bank of Zimbabwe over the acquisitions, the people said, asking not to ...

Bloomberg European stocks snapped a two-day losing streak as investors kept faith with economic support policies, helped by some reassuring earnings news. The dollar fluctuated alongside US equity futures. Shares in Europe’s largest technology company, SAP SE, rose 7% after it reported better-than-expected second quarter revenue on returning demand for software in Asia, boosting hopes for a deeper recovery. It ...

Bloomberg As Malaysia’s benchmark stock index inches closer to erasing its loss for the year, one corner of the market has raced ahead: technology shares. The Bursa Malaysia Technology Index of 38 stocks has soared 95% from a March low to reach the highest level since 2004, led by manufacturers ViTrox Corp. and UWC Bhd. The main FTSE Bursa Malaysia ...

Bloomberg Flows into Indian stock funds slumped in June as investors pocketed gains from a strong rebound in equities as the pandemic showed no signs of slowing in Asia’s third-largest economy. Equity plans got 2.4 billion rupees ($32 million), according to data from the Association of Mutual Funds in India. That’s down 95% from 52.6 billion rupees received in May, ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, on Wednesday launched the Dubai Cyber Index, an initiative aimed at supporting the efforts of Dubai’s government entities to ensure the highest standards of cybersecurity. The first initiative of its kind in the world, the ...

Bloomberg Oil was anchored below $41 a barrel with an industry report signalling a surprise gain in US crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections. The American Petroleum Institute reported inventories rose by 2.05 million barrels last week, before government data on Wednesday. The virus is setting records across the US, with Texas’s ...

Bloomberg Poor diets in developing countries are costing businesses as much as $850 billion a year in lost productivity, underlining the need for companies to play a bigger role in tackling a problem that’s being compounded by the coronavirus pandemic. Those are the findings of a study by Chatham House and Vivid Economics, the first to analyse the impact of ...

Dubai / WAM The cost of the Hope Mars Mission reached $200 million, which is considered among the lowest in the world when compared with similar programmes, said Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs. Addressing a media briefing in Dubai, Al Gergawi detailed the achievements of the Emirates Mars Mission team, including development of 200 new designs, ...

ABU DHABI / WAM M/V Safeen Tiger made its maiden call to Abu Dhabi at Khalifa Port on inaugural voyage from India. The UIG service covering two loops from the UAE to Indian Sub-Continent and the Arabian Gulf is jointly operated by Abu Dhabi Port’s Safeen Feeders and Bengal Tiger Line. The vessel will leave Khalifa Port on Wednesday, heading ...

Abu Dhabi / WAM The Abu Dhabi Housing Authority (Adha) reported that it has achieved a quantum leap in the application of Artificial Intelligence (AI) technologies by launching its Robotic Process Automation (RPA) system, a form of AI technology and one of the most important technical systems adopted by the authority to develop and improve its services. The RPA system ...