Bloomberg US equity futures advanced alongside global stocks after the US and China were said to close in on a trade deal that may end American tariffs in return for Chinese concessions. The dollar edged higher with Treasuries, while commodities were mixed. Gains in media and construction shares led the Stoxx Europe 600 Index to the highest level in five ...

Bloomberg News that the US and China are near a trade deal that could lift most or all American tariffs did little to bring out the animal spirits from Asia stock traders. But when China said “substantial progress” was made, that appeared to do the trick. The MSCI Asia Pacific Index spiked up around 11:24 a.m. in Hong Kong, with ...

ABU DHABI / WAM A total of AED18.7 billion of dividends have been proposed by as many as 18 listed UAE national banks for 2018, 12.2 percent up from AED16.66 billion in 2017. The growth in dividend distribution reflects robust solvency position of UAE banking sector, reckoned among Mena’s most resilient with estimated AED2.9 trillion of assets by 2018-end. The ...

Bloomberg Uber Technologies Inc. is in advanced discussions to buy Dubai-based Careem Networks FZ, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter. The companies may announce a cash-and-sh-ares transaction that values Careem at about $3 billion in the coming weeks, the people said, asking not to be identified ...

DUBAI / Emirates Business Schneider Electric, the leader in digital transformation of energy management and automation, announced ahead of Middle East Electricity that smart cities are driving the GCC’s smart grid market to $33 billion by 2042. GCC nationwide digital transformation and smart cities are weaving energy efficiency throughout every project — across renewable energy generation, more efficient power distribution ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) has launched a new service that will enable customers to collect security deposits and credit refunds from Western Union agents in the UAE and around the world. The service is part of Dewa’s efforts to ensure convenience of customers, by saving them time and effort in implementation of an agreement ...

Bloomberg Kuwait is planning to create a $10 billion fund with China to invest in the two countries, according to people with knowledge of the matter. The Gulf state is discussing the creation of a Kuwait-China Silk Road Fund that would invest in Kuwaiti projects related to the Silk City and islands development, according to the people. It could also ...

Dubai / Emirates Business Sleep apnea is a common chronic disorder affecting about 2-4% of the adult population with highest prevalence in middle aged men. Prevalence of obstructive sleep apnea is very high in Dubai and Middle east according to recent studies. Sleep apnea can affect anyone at any age, even children. Most of the patients are male, obese and ...

Dubai / Emirates Business Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, has won the coveted “Best Local Bank in the UAE” award at the EMEA Finance Middle East Banking Awards ceremony held at the Shangri-La Hotel in Dubai. The award was received by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of ...

Dubai / WAM The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF), announced it will be extending the fifth Nobel Exhibition, held in collaboration with the international Nobel Foundation at Dubai’s La Mer, until March 30. The decision came following directives of the MBRF Chairman, HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, and as a result of the ...