Emirates Business Max, the largest and most trusted value fashion brand in the Middle East, North Africa and India, has increased its presence in the UAE by opening a second store in Al Ain. With this, Max now has a total of 31 stores in the UAE. Located in Makani Zakher, the community mall in Al Grayyeh, Al Ain, …

  KHOBAR / DUBAI / Reuters Citigroup has formally applied for a licence to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a move to return to the country after an absence of nearly 13 years. The application has been made with Saudi Arabia’s Capital Market Authority (CMA), whose primary role is to …

  Bloomberg UK regulators are starting a review into consumer borrowing after the Bank of England warned again about a potentially unsustainable buildup of debt. In a statement on Monday after its quarterly meeting, the BOE’s Financial Policy Committee said household indebtedness “remains high by historical standards and has begun to rise relative to incomes.” Noting that consumer credit has …

  DUBAI / Reuters Oman’s central bank signed a memorandum of understanding with the Iranian central bank to strengthen financial and economic cooperation between the two countries, the Omani institution said. It did not give details of the cooperation, but said the agreement would boost bilateral trade and include training for Iranian central bankers. Worried by the threat of U.S. …

  Bloomberg Central banks did their best to fight deflation. Now a Polish policy maker wants his government to step up as prices are making a comeback. As the National Bank of Poland comes under pressure to act in response to a rebound in price growth, Jerzy Osiatynski counters that it “has no monopoly on fighting inflation.” Higher wages raise …

  Bloomberg Chinese ride-sharing giant Didi Chuxing is weighing whether to take a $6 billion investment backed by SoftBank Group Corp. that could dilute existing backers such as Apple Inc., people familiar with the matter say. If the deal goes through, the funding would be the single largest for a Chinese technology startup on record. But the Beijing-based company that …

  Bloomberg Ericsson AB will book as much as 15 billion kronor ($1.7 billion) in extra costs in the first quarter as new Chief Executive Officer Borje Ekholm cuts back the wireless network maker after four straight quarters of declining revenue. Ekholm, who took over in January, is cutting costs and narrowing the company’s focus as he contends with contract …

  Bloomberg Uber Technologies Inc. says Alphabet Inc.’s own ground rules require accusations that the ride-hailing giant stole trade secrets for driverless cars be resolved in private arbitration and not a public court. It’s a bold gambit by the world’s most valuable startup to shift the lines of battle for a showdown that may decide who controls key technology in …

  Bloomberg The United Arab Emirates forecasts that savings generated by switching half its power needs to clean energy by mid century will outstrip the investment costs. The Gulf state plans to invest $150 billion in renewable power by 2050, weening the country from dependency on subsidized natural gas power in stages, Minister of Energy Suhail Al-Mazrouei said at a …

  Bloomberg National Bank of Abu Dhabi PJSC is selling $587 million in a class of debt used to fund environmental projects, the first issue of green bonds from a region where governments are looking to curb dependence on oil as an energy source. The state-owned lender is offering the five-year securities at 98 basis points over the mid-swap rate, …