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ABU DHABI / WAM e& on Monday announced the signing of a binding agreement with Uber Technologies, Inc (Uber) and its subsidiary Careem to acquire a majority stake in Careem’s Super App spinout. Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers. e& ...

ABU DHABI / WAM History knew the late Sheikh Zayed bin Sultan Al Nahyan as a leader who prioritised charity and humanitarian work, leaving behind a timeless legacy of his giving in various stretches around the world. Sheikh Zayed’s charity work was unbiased and reached many people in various countries. Under his rule, the UAE’s humanitarian and development aid totalled ...

BLOOMBERG Some smaller Chinese lenders cut interest rates for time deposits over the weekend, following a similar move by their larger rivals last year, after several lending rate reductions by policy makers started to squeeze their margins. Rural lenders in provinces including Henan and Hubei lowered deposit rates by as much as 45 basis points on some tenors, according to ...

BLOOMBERG BNP Paribas SA raised the bonus pool for its top investment bankers last year after the employees’ unit posted revenue gains on increased market volatility. The variable compensation pool for what it calls “material risk takers” at its investment banking operation rose 14% to €504.3 million ($550 million), according to a filing. Since the number of such bankers slightly ...

BLOOMBERG Kazuo Ueda took over the reins at the Bank of Japan (BOJ), replacing Haruhiko Kuroda, whose decade-long aggressive easing efforts made the central bank capable of jolting global financial markets with just a small tweak to its policy. Ueda began his five-year term, inheriting a monetary stimulus program from Kuroda after $11.7 trillion was spent in the pursuit of ...

BLOOMBERG US bank lending contracted by the most on record in the last two weeks of March, indicating a tightening of credit conditions in the wake of several high-profile bank collapses that risks damaging the economy. Commercial bank lending dropped nearly $105 billion in the two weeks ended on March 29, the most in Federal Reserve data back to 1973. ...

BLOOMBERG Mastercard Inc wants the plastic in consumers’ wallets to do less damage to the environment. Starting in 2028, the company will require all banks issuing one of its payment cards to use sustainable materials as it seeks to remove first–use, PVC plastics from its network, according to a statement. Acceptable alternatives include recycled or bio-sourced plastics. The move comes ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, received Ian Borg, Minister for Foreign and European Affairs and Trade of the Republic of Malta. During the meeting, which was held at the Ministry’s HQ in Abu Dhabi, ways of expanding cooperation and partnership were discussed within the framework of the ...

ABU DHABI / WAM  HH Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of the Emirate of Abu Dhabi and National Security Adviser, said that Zayed Humanitarian Work Day is an everlasting stop on a national march of generosity and kindness for all peoples on earth. In statements marking theZayed Humanitarian Work Day, Sheikh Tahnoun added: “Late Sheikh Zayed bin ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a written letter to Dr Rashad Al-Alimi, Chairman of the Presidential Leadership Council of the Republic of Yemen, which discussed bilateral relations and also included an invitation to attend COP28, which will be held in the UAE this November. The letter was received by Al-Alimi from ...