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Bloomberg The United Arab Emirates’ sovereign wealth fund boosted its stake in Dubai-based telecom operator du, snapping up a stake valued at about $630 million (AED2.3 billion). The Emirates Investment Authority bought 463.3 million shares in the phone company from Mamoura Diversified Global Holding and General Investments in a special deal, according to a statement. It represented about 10.2 percent …

SHARJAH / WAM Abdullah Sultan Al Owais, Chairman of Sharjah Chamber of Commerce and Industry, met with Alisher Selmov, Consul-General of Uzbekistan in Dubai, and explored ways of enhancing mutual cooperation for the benefit of both sides. During the meeting, Al Owais briefed the guest on the chamber and its missions in trade and economic relations with friendly countries. He …

Bloomberg Saudi Arabia hopes Opec and its allies will agree to extend oil production cuts into the second half of the year at a meeting that will probably take place in the first week of July, according to the country’s energy minister. “We are hoping that we will reach consensus to extend our agreement when we meet in two weeks …

Bloomberg Energean Oil & Gas Plc, the Greek energy producer that sold shares in London last year, is bidding for the oil and gas business of Electricite de France SA’s Italian unit, people familiar with the matter said. Energean has submitted a final offer for Edison SpA’s exploration and production assets, the people said, asking not to be identified as …

Bloomberg Rising tensions in the Gulf region aren’t stopping foreign investors from supporting Saudi Arabian stocks, just four years after funds from abroad were first allowed to trade directly in Riyadh. International funds helped contain losses in the final trading session last week, when Gulf stocks were sold off amid escalating tensions in the region. Qualified foreign funds have been …

Bloomberg Hong Kong’s short-term borrowing costs haven’t been this high for a decade, and the impact is starting to show on the city’s financial markets. The tightness has weighed on demand for stocks at a time when street clashes have undercut sentiment towards the city’s assets. A gauge of Hong Kong property companies tumbled the most in five months as …

Bloomberg When it’s all done, when the bulls have been broken, historians will look back and have something definitive to say about this rally’s causes and consequences. Until then, we must settle for theories. In a baffling week, oil tankers were attacked in the Gulf, America blamed Iran, and US stocks rose. President Donald Trump threatened to slap sanctions on …

Bloomberg The boast by People’s Bank of China Governor Yi Gang this month that he has “tremendous room” to adjust policy could soon be tested as the economy slows, throwing attention on the impact on the nation’s fragile currency and financial markets. Compared to European and Japanese peers, China does have more obvious policy space. Its benchmark one-year lending rate …

Bloomberg Trade-reliant Thailand better get used to worrying about the export outlook if President Donald Trump wins a second term, according to an official who helps to decide the country’s policy interest rate. “The US-China trade war has haunted us,” Somchai Jitsuchon, a member of the Bank of Thailand’s (BOK) monetary policy committee, said in an interview. “And that may …

Bloomberg Japanese inflation data looks set to push bond yields even lower and increase scrutiny of central bank Governor Haruhiko Kuroda, who says he can deliver more big monetary stimulus if necessary. Yields on Japanese government bonds have fallen since mid-April, with returns on 10-year debt touching a near three-year low of minus 0.135 percent on June 7. While these …