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DUBAI, March 28 (Reuters) - Uber Technologies' (UBER.N) Middle East subsidiary Careem is in advanced talks with Emirates Telecommunications Group Company (EAND.AD) to invest in its expansion into services beyond ride-hailing, five sources with knowledge of the matter told Reuters. Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services. While Uber owns Careem's app and its around 50 million registered users, the newly-created investment vehicle will have a service level agreement with the app and its solutions, the source said. Careem's co-founder and Chief Executive Mudassir Sheikha, a former McKinsey executive, has long been a proponent of the Super App strategy to expand beyond ride-hailing. Uber, which shut down its Uber Eats operations in the Middle East in 2020, is focused on ride-hailing in the UAE.

But rates are still relatively low compared to earlier this month, when 30-year mortgage rates were inching up toward 7%. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.42%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 5.68%, a small decrease from the prior week, according to Freddie Mac data.

Sheikh Mohammed, who became president and Abu Dhabi ruler last year after running the U.S.-allied OPEC oil producer for years, named his brother Sheikh Mansour as UAE vice president, alongside Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum. This appeared to further centralise power in Abu Dhabi, which is the political capital by virtue of its immense oil wealth, of the UAE federation of seven emirates. Abu Dhabi has held the presidency since the founding of the UAE federation by Sheikh Mohammed's father in 1971. Sheikh Mohammed, known as MbZ, had been grooming his son in positions of authority in security - including intelligence - economy and governance, analysts say. Earlier this month, Sheikh Tahnoun was named chair of Abu Dhabi Investment Authority, among the world's largest sovereign wealth funds.

☆ Abu Dhabi's Presight AI soars on market debut
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

DUBAI, March 27 (Reuters) - Shares in Abu Dhabi big data analytics company Presight AI climbed as much as 176% on their stock market debut after raising 1.82 billion dirhams ($495.6 million) in an initial public offering (IPO) for almost a third of the business. Presight's shares rose as high as 3.70 dirhams on the Abu Dhabi Securities Exchange before retreating a little to 3.40 dirhams. The company is majority owned by G42, controlled by Sheikh Tahnoon bin Zayed al-Nahyan. Sheikh Tahnoon is the UAE's national security adviser and has acted as a foreign policy troubleshooter for his brother, President Sheikh Mohammed bin Zayed al-Nahyan. He was also recently named chair of Abu Dhabi Investment Authority, the emirate's largest sovereign wealth fund, and was already chair of smaller wealth fund ADQ.

☆ 5 hot beauty trends shaping the future of the industry, according to an influencer who advises companies and an investment fund
▼ + stars: | 2023-03-22 | by ( Nhari Djan | ) www.businessinsider.com time to read: +6 min

The fund, called BrainTrust Founders Studio, invests in Black beauty and wellness companies. Newby scouts for the BrainTrust Founders Studio, which helps fund Black founders of beauty and wellness brands, incubate, and scale their businesses. "That would not have been enough time for a brand to to basically create an entire slugging product," Newby said. "I believe, contrary to many, that red carpet and Fashion Week beauty trends still drive a lot," Newby said. Black skincare brands are evolving their formulas, and will lead the clinical skincare industryAs an investor in Black founders, Newby has noticed that Black skincare brands are developing more advanced formulas.

☆ An influencer who scouts for VC firms breaks down 5 beauty industry trends to watch in 2023
▼ + stars: | 2023-03-20 | by ( Nhari Djan | ) www.businessinsider.com time to read: +6 min

The fund is the part of VC firm BrainTrust that invests in Black beauty and wellness companies. Newby shared her top five trends to watch in the beauty industry in 2023. "That would not have been enough time for a brand to to basically create an entire slugging product," Newby said. "I believe, contrary to many, that red carpet and Fashion Week beauty trends still drive a lot," Newby said. Black skincare brands are evolving their formulas, and will lead the clinical skincare industryAs an investor in Black founders, Newby has noticed that Black skincare brands are developing more advanced formulas.

☆ Mortgage giant Fannie Mae tackles climate risk, but changes to underwriting may take several years
▼ + stars: | 2023-03-20 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

But the housing market currently doesn't price that climate risk into home values. The mortgage giant's chief climate officer, Tim Judge, says mortgage underwriting does not currently account for climate risk. To help, Judge is hiring climate risk modeling firms, such as First Street Foundation and Jupiter Intelligence, as well as others, to figure out just how to factor climate risk into home values and mortgage underwriting. First Street, for example, looks at climate risk from floods, fire and wind, and brings it down to an individual property level. But Fannie Mae is not yet rejecting any mortgages based solely on climate risk.

☆ Kim Jong Un's daughter was a mystery for years, but now she's showing up at North Korea's biggest missile tests
▼ + stars: | 2023-03-17 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

For years, Kim Jong Un's daughter — Kim Ju Ae — was a mystery to the world. But in late 2022 state media began showing photos of her at North Korean military events. Photographs released by state media after the launch appear to show the country's leader, Kim Jong Un, watching with a girl who has been identified by analysts and experts as his daughter, Kim Ju Ae. This photo provided on Nov. 19, 2022, by the North Korean government shows North Korean leader Kim Jong Un, right, and his daughter inspecting a missile at Pyongyang International Airport in Pyongyang, North Korea, Friday, Nov. 18, 2022. In this photo provided by the North Korean government, North Korean leader Kim Jong Un, with his daughter, inspects what it says is an artillery drill at an undisclosed location in North Korea, Thursday, March 9, 2023.

☆ Abu Dhabi's G42 buys ByteDance stake at $220 billion valuation, report says
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: +1 min

Abu Dhabi-based artificial intelligence firm G42 acquired a $100 million plus stake in ByteDance, valuing the Chinese unlisted owner of TikTok at $220 billion, Bloomberg News reported late on Tuesday, citing people with knowledge of the deal. G42, controlled by Sheikh Tahnoon bin Zayed al-Nahyan, who is also the UAE's national security adviser, acquired the stake from existing investors in recent months through its 42XFund, the report said, adding that another fund also bought into ByteDance at a $225 billion shortly after. The company's $220 billion valuation is a considerable discount to the $300 billion valuation set during a share buyback program last year, down from the valuations of between $300 billion and $400 billion it received in the secondary market in 2021. Both 42XFund and ByteDance did not immediately repsond to Reuters' requests for comment. Bloomberg had earlier in the day reported that TikTok, ByteDance's short-form video app, is considering separating from its parent to help address U.S. concerns about national security risks, as it has come under increasing fire over fears that user data could end up in the hands of the Chinese government, undermining Western security interests.

☆ UAE withdraws bid for 2026 World Bank-IMF meetings in favour of Qatar
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. The decision came during a phone call between UAE President Sheikh Mohammed bin Zayed Al Nahyan and Qatar's emir Sheikh Tamim bin Hamad al-Thani, statements from state news agency WAM and the Amiri Diwan said. In Sunday's phone call, Sheikh Mohammed pledged the UAE's support for Qatar's bid to host the meetings and "wished the Emir and the people of Qatar every success in hosting this global gathering," WAM's statement said. But relations between Abu Dhabi and Doha have warmed in recent months with Sheikh Mohammed visiting Qatar during the soccer World Cup last December. Abu Dhabi, like Manama, has not appointed an envoy to Doha, but restored travel and trade links with Qatar.

☆ A 50% rent increase? Record property demand in Dubai is creating a nightmare for some residents
▼ + stars: | 2023-03-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Beyond the property market, Dubai's economic boom is evident in everyday life. The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Property prices have, too — CBRE says that selling prices are up 11.5% on average in the year to February 2023. Christopher Pike | Bloomberg | Getty ImagesAccording to CBRE's research, in the year through February 2023, average Dubai rents increased by 27.7%. In the meantime, no one expects property prices to ease up anytime soon.

☆ Some of Wall Street's top commentators fear a recession is at hand as rates set to go higher for longer
▼ + stars: | 2023-03-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Yesterday on Capitol Hill, Jerome Powell reiterated his warning that the Fed's more than ready to keep jacking up rates if necessary. Inflation hasn't gone away as easily as policymakers want, and Powell thinks that may just warrant a steeper policy path. That's not the most reassuring assessment of the situation as some of the biggest commentators in markets are saying a recession is right around the corner. The exec also broke down how to use the strategy in today's stock market to make extremely cheap bets that garner "through the roof" returns. Fannie Mae's Home Purchasing Sentiment Index dropped this week while mortgage rates moved higher.

☆ UAE exchange house Al Ansari to float 10% in Dubai IPO
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

DUBAI, March 9 (Reuters) - UAE-based exchange house Al Ansari Financial Services said on Thursday it plans to float 10% of the company on the Dubai Financial Market (.DFMGI) through an initial public offering (IPO). Al Ansari said Abu Dhabi Commercial Bank (ADCB.AD), EFG Hermes UAE and Emirates NBD Capital were mandated as joint global coordinators for the IPO. It made 595 million dirhams ($162.01 million) in net profit last year, up from 491 million dirhams in 2021. Operating income rose to 1.15 billion dirhams from 988 million dirhams in 2021. The Emirates Investment Authority, the UAE's only federal sovereign wealth fund, has the right to subscribe to up to 5% of the offering, Al Ansari added.

☆ 7 things to do in Austin that will make your 'work trip' to SXSW unforgettable
▼ + stars: | 2023-03-08 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +2 min

Austin is home to SXSW, the annual tech and culture conference that attracts thousands. If you're going for work, tack on a few days and enjoy some local fun. Many companies send their employees to SXSW on business. If you're one of them, why not take the opportunity to get out and see Austin when your work day is done? Here's a guide to some of Austin's hidden gems to help you unwind and turn your work trip into "workation."

☆ Western sanctions have weakened the dollar's dominance as India buys Russian oil with other currencies
▼ + stars: | 2023-03-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

India has been buying Russian oil trade with non-dollar currencies like the ruble, Reuters reported. India's shift came after the West imposed new sanctions on Russian oil in December. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyWestern sanctions have weakened the dollar's dominance in oil trades, as India increasingly buys Russian oil using other currencies, Reuters reported. Still, India is now the third-biggest importer of Russian oil, and traders will likely keep looking for ways to maintain flows. "As it is, the government is not asking us to stop buying Russian oil."

☆ China's energy transition sees 'staggering' progress on renewables — and a coal power boom
▼ + stars: | 2023-03-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

'A hot, still summer evening is the worry'The International Energy Agency said earlier this month that, while still rising, global carbon emissions may at least be reaching a plateau. Energy-related carbon emissions added less than 1% in 2022 to a new high of more than 36.8 billion tons. Comparatively, global emissions from energy gained by 6% in 2021. "Getting China's emissions to peak has an indispensable role in peaking and declining global emissions — and the success of the overall global effort," said Lauri Myllyvirta, lead analyst at CREA. In 2020, China's Xi announced plans for the world's second-largest economy to strive for peak carbon emissions in 2030 and for carbon neutrality by 2060.watch now

☆ NBA roundup: Red-hot Knicks outlast Celtics in double OT
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +10 min

Julius Randle added 31 points and nine rebounds for the Knicks, who also received 29 points and 11 rebounds from RJ Barrett. Jayson Tatum had 40 points, 11 rebounds and six assists for the Celtics, who have lost their last two home games. Bennedict Mathurin scored 17 points, Myles Turner added 16 and Chris Duarte had 15 for Indiana. Kelly Oubre Jr. scored 17 points for Charlotte, which dropped its third straight. Walker Kessler (17 points, 10 rebounds) and Kelly Olynyk (15 points, 10 rebounds) each had double-doubles in the loss.

☆ Oil prices turn positive after falling by $2 a barrel on a report UAE is considering leaving OPEC
▼ + stars: | 2023-03-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

The logo of the OPEC is pictured at the OPEC headquarters on October 4, 2022. DUBAI, United Arab Emirates — International oil benchmark Brent crude dropped as much as 2.8% on Friday morning in New York on the back of a report that the United Arab Emirates is internally discussing leaving OPEC, the powerful 13-member oil producer alliance. Brent later recouped its losses and turned positive, trading at $85.23 per barrel at 11:30 a.m. This would have a significant impact on the oil producer group's global clout, as well as allow the UAE to pursue its own oil production plans that suit its interests. Abu Dhabi has for some time wanted to increase its crude output to boost its revenue but has been limited by OPEC+ production agreements dominated by the group's kingpin and largest producer, Saudi Arabia.

DUBAI, March 3 (Reuters) - A media report that the United Arab Emirates is considering leaving OPEC is "far from the truth," two sources with direct knowledge of the matter told Reuters. Earlier on Friday, the Wall Street Journal reported that the UAE is having an internal debate about leaving the Organization of the Petroleum Exporting Countries. "This is definitely not on the table," another source with knowledge of the matter said, when asked about the WSJ report. OPEC, Russia and other non-member producers, known as OPEC+, have a deal in place to cut production by 2 million barrels per day, about 2% of world demand, during 2023 to support the market. UAE energy minister Suhail al-Mazrouei said last year the UAE's plans to raise its production capacity did not mean the country was going to leave OPEC.

[1/5] NASA's SpaceX Crew-6 mission, that includes NASA astronauts Stephen Bowen and Woody Hoburg, the United Arab Emirates Sultan Al-Neyadi and Russian cosmonaut Andrey Fedyaev, launches to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2023. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule called Endeavour, lifted off at 12:34 a.m. EST (0534 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. Fellow NASA astronaut Warren "Woody" Hoburg, 37, an engineer and commercial aviator designated as the Crew 6 pilot, was making his first spaceflight. The Crew 6 team will be welcomed aboard the space station by seven current ISS occupants - three U.S. NASA crew members, including commander Nicole Aunapu Mann, the first Native American woman to fly to space, along with three Russians and a Japanese astronaut. An empty replacement Soyuz to bring them home arrived at the space station on Saturday.

☆ UAE's Masdar to invest $1.2 bln in British battery storage tech
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

Companies Abu Dhabi Future Energy Company PJSC FollowLONDON, March 1 (Reuters) - The United Arab Emirates' state-owned renewables developer Masdar will invest 1 billion pounds ($1.20 billion) in British battery storage technology, its chief executive said on Wednesday. "We are committed... to deploy a billion pounds across the United Kingdom to accelerate the battery storage solutions," Jameel Al Ramahi told the International Energy Week conference. Masdar bought UK-based battery company Arlington Energy last year. Masdar is owned by the Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company, and Abu Dhabi National Energy Company PJSC (TAQA). ($1 = 0.8310 pounds)Reporting by Ron Bousso and Sarah McFarlane; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Damian Lillard erupts for 71 in Blazers' win
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +7 min

Jerami Grant added 13 points and Nassir Little scored 11 for Portland, which connected on 54.5 percent of its field goal attempts and was 20 of 39 from 3-point range. Doncic scored 26 points with nine rebounds, while Irving had 21 points and 11 assists. Ayton also grabbed a team-high 11 rebounds and blocked three shots. Nikola Vucevic added 16 points and 13 rebounds for his 39th double-double of the season, third most in the NBA. Jakob Poeltl added 13 points and nine rebounds for the Raptors, who were coming off a win over the host Detroit Pistons on Saturday.

METALS AND MININGIn a significant widening of its Russia-related sanctions, Treasury announced a new determination by the Office of Foreign Assets Control (OFAC) that allows sanctions on any individual or entity operating in Russia's metals and mining sector. On Friday, it hit four mining and metals sector companies, including TPZ-Rondol, a unit of Russia's largest ammunition maker, for producing weapons for the Russian military, including the navy, the Treasury said. Among other entities hit on Friday were more than a dozen Russian banks. Another bank hit was MTS Bank, which is located in Moscow and Abu Dhabi, United Arab Emirates. Brian Nelson, Treasury's top sanctions official raised concerns about UAE's decision to license the Russian bank during a visit to the country the week of Jan. 30.

☆ There's been a 'significant' rise in international demand for our products: UAE defense group
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's been a 'significant' rise in international demand for our products: UAE defense groupFaisal Al Bannai, chairman of the board of directors of UAE's leading defense group Edge, says it's "not focused on the lower end of the market."

The senior source familiar with Syrian government thinking said that the UAE role in persuading Assad should not be underestimated. A Syrian source close to the Gulf said the UAE had used its "soft power" on Assad and a Turkish official also said the UAE had played a part in persuading him. Moscow has tussled with Western states repeatedly at the Security Council over cross-border aid into Syria, arguing it violates Syria's sovereignty. Other Arab states, including U.S. allies, have also moved to normalise ties with Assad. The UAE official said there was an "urgent need to strengthen the Arab role in Syria".

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