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Bloomberg Zuercher Kantonalbank, Switzerland’s fourth- biggest bank, said it’s considering acquisitions in the country’s shrinking private banking sector as smaller rivals struggle with rising costs and negative interest rates. “Domestic private banking is interesting if it offers a certain size and is a good fit,” Martin Scholl, ZKB’s chief executive officer, said in an interview Friday. He said ZKB is ...

BLOOMBERG Bank of America Corp. (BoA) awarded Chief Executive Officer Brian T. Moynihan $16 million for his work last year, raising his potential compensation 23 percent. Moynihan received $14.5 million in stock grants for 2015 and left his salary unchanged at $1.5 million, according to a regulatory filing Friday. A year earlier, the Charlotte, North Carolina-based bank gave the CEO ...

RITIKA SHARMA / EMIRATES BUSINESS Abu Dhabi pavilion coordinated by the Abu Dhabi Convention Bureau (ADCB), a division of Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) – was one of the focal points at the recently-held 10th anniversary edition of ibtm arabia in the Emirates capital. ibtm arabia, which is the region’s one of the most-regarded meetings, incentives, ...

Our Correspondent/ EMIRATES BUSINESS The Sustainable City — the region’s first fully integrated sustainable metropolitan area, aims to make its citizens more than just tenants, but instead an integral component of its day-to-day functioning. The Sustainable City promotes its tenants as partners that benefit from its host of sustainable and energy-saving features. It is focused on rewarding its residents economically, ...

NEW DELHI / WAM The United Arab Emirates and the Republic of India exchanged a number of cooperation agreements and memorandums of understanding in a number of areas. The exchange ceremonies were witnessed by His Highness Sheikh Mohmed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Excellency ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed the World Government Summit (WGS) to establish new international partnerships and launch knowledge initiatives with world governments to shape the next generation of leaders and help them prepare for future challenges and changes across all ...

London / AFP World stocks slumped on Thursday, gripped by another fierce sell-off after a warning by Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 12-year lows. New York’s Dow Jones Industrial Average sank overnight as Yellen also played down the chances of another US interest rate hike any time soon. The news sparked ...

Munich / AFP Russia said on Thursday it was ready to discuss a ceasefire in Syria as foreign ministers gathered in Munich in a bid to kick-start peace talks derailed by the regime onslaught on the besieged city of Aleppo. Tens of thousands of Syrians have fled to the Turkish border as government forces, backed by Russian bombers and Iranian ...

Monterrey / AFP At least 52 inmates were killed in a Mexican prison brawl on Thursday, as prisoners fought with bats, sticks and blades and ignited a fire in the overcrowded penitentiary. Twelve others were injured during the “pitched battle” that lasted 30 to 40 minutes at the Topo Chico prison in the northern industrial city of Monterrey, said Nuevo ...

Rome / AFP Italian Prime Minister Matteo Renzi has compared Europe’s recent economic policies to administering drugs to artificially prolong the life of a terminally ill patient. A regular critic of EU’s budget deficit rules, Renzi said in an open letter published by La Repubblica on Thursday that austerity economics had resulted in Europe being left behind by the United ...