|By Arabian Post Staff| Abraaj Group, the Middile East’s biggest private equity firm, is facing the biggest crisis in its history, with a number of major management changes and top-level resignations. According to reports, chief financial officer Ashish Dave has left the company and two other other senior executives are also preparing to leave. The investment firm, which manages $13.6 billion in assets, is also considering a […]
|By Anand Vardhan|Shaikha Hind Al Qassimi, member of the royal family of Sharjah, is a multifaceted personality with an enviable record as a painter, publisher and fashion designer. She has set up a number of businesses that reflect her interests, among them a fashion house that showcases exquisitely designed abayas, which combine luxurious functionality and style. Her signature brand, ‘House Of Hend’ retails in several countries in […]
|By Arabian Post Staff| DP World Ltd., the Dubai-based port operator that manages terminals from Hong Kong to Peru, and India’s National Investment & Infrastructure Fund (NIIF) plan to jointly invest up to US$3 billion in the South Asian nation, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, disclosed at the sixth World Government Summit (WGS 2018) in Dubai. During a panel discussion titled […]
By Manish Rai Last year in June Saudi Arabia, the UAE, Bahrain and Egypt imposed a land, sea, and air blockade on Qatar for its alleged support to terror outfits and being too close to Iran. The Arab neighbours thought that by imposing this blockade they can pressurise Qatar to set aside its own ambitious foreign policy and toe the line of its bigger neighbours. But during […]
|By Arabian Post Staff| Dubai rental yields have trended lower structurally since 2009, indicating that investors are willing to accept risk with lower risk premia. Of all the major cities analyzed, Dubai remains far above the highest yielding city, suggesting that there is ample room for further yield compression, according to property portal Reidin. In the first nine months of 2017, even though level of transactions are […]
|By Arabian Post Staff| : The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media live streams. The mesmerising laser, light and musical fountain show not only […]
|By Arabian Post Staff| Following objections raised by its national airline, India has rejected Dubai’s request for more landing rights to fly directly to under-served airports in the country, such as those in India’s North East. “We have decided against allowing any such access to Dubai. The request has been rejected,” Indian media reported quoting a senior aviation ministry official. Dubai’s DGCA has been seeking an increase […]
When you go out with a client or your boss for dinner, it’s not just the food that’s going to get scrutinised. The way you conduct yourself during a business dinner could leave a lasting impression on whoever you’re meeting, and you want to make sure that impression is a good one. In order to avoid any dining faux-pas, check out our top tips for business dinners. […]
|By Arabian Post Staff| Rhetoric casting the future of the Middle East as an existential battle between the two regional powers has soared – particularly on the Saudi side – over the past year. However, a direct military confrontation between Iran and Saudi Arabia remains unlikely, Control Risks, the specialist global risk consultancy, has warned that businesses in its Middle East risk map for 2018. Iran and Saudi […]
|By Arabian Post Staff| After posting a 10 per cent year-on-year rise in MENA region profits in 2017, Saxo Bank, the online multi-asset trading and investment specialist, has consolidated its high-performing Dubai station as its regional hub of operations. The double-digit annual profit growth across the region, which has elevated MENA to the company’s third most profitable operation this year, had led Saxo’s Head of MENA, Mario Camara, […]
|By Arabian Post Staff| UAE-based multinational company, Crescent Enterprises, has announced the successful closing of its investment in ColubrisMX and XCath, two next-generation micro-robotic medical device companies through its newly launched corporate venture arm, Crescent Enterprises Venture Capital (CE-VC). Developed at the University of Texas Medical School’s Microsurgical Robotics Laboratory and incorporated in Texas, USA, both companies design and develop next-generation robotic technologies that are expected to revolutionise […]
|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]
|By Alia Al-Khater| The Middle East has a long history of coffee drinking traditions. Over the years, the traditions have been shifting towards more Western ones. More recently, numerous specialty coffee shops are being opened, many of which are run by local independent business owners. As people are beginning to appreciate quality coffee, the region can be characterized by its vastly expanding market for coffee drinking. Many of these […]
|By Arabian Post Staff| Dubai Land Department (DLD) has announced the updated rental index for 2018, covering all residential, commercial and industrial properties in the Emirate of Dubai. DLD’s specialists have adopted a variety of mechanisms to carry out the upgrade process, including reading the average data of tenancy contracts registered in the ‘Ejari’ system and the real estate data and units registered in DLD’s databases. The […]
|By Arabian Post Staff| Emaar Development said on Thursday it plans to price its initial public offering in between Dh5.7 to Dh6.9, thereby valuing the company at Dh25.2 billion. The company plans to offer 800 million shares or 20 per cent of the share capital, it said in an emailed statement.The final price will be announced on November 16, and the shares will be listed on the […]
|By Arabian Post Staff| NRI Emirati Investors Group, a new UAE-based group formed by the Business Leaders Forum (BLF), announced that it will raise US$1 billion (Dh3.67 billion) in commercially viable big-ticket projects in India. The announcement was made at the inaugural two-day India-UAE Partnership Summit (IUPS) taking plae at the Armani Hotel, Burj Khalifa, Dubai. This would be the largest such collective fund-raising programme by a […]
|By Arabian Post Staff|Saudi Crown Prince Mohammed bin Salman put the kingdom somewhat in the ‘Dubai mode’ announcing the launch of an initiative backed by more than $500 billion investment to transformation of the kingdom into a leading global hub through the introduction of value chains of industry and technology. The plan, known as Neom, spires to make the country the “safest, most efficient, most future oriented, […]
|By Arabian Post Staff|Saudi Arabia is holding one of its most important investment summits ever, named the Future Investment Initiative (FII), considered to be game-changing forum in Riyadh. The landmark event is being attended by more than 2,500 delegates and internationally-renowned business and investment leaders from over 60 countries. The three-day event will explore new trends, opportunities, challenges and emerging industries that will shape the world economy and […]
|By Arabian Post Staff|The National Commercial Bank announced that net income for the nine months of 2017 reached SAR 7,246 million compared to SAR 7,030 million for the same period of the previous year, an increase of 3.1%. NCB’s net profit for the third quarter reached SAR 2,126 million compared to SAR 1,962 million for the same quarter of the previous year, an increase of 8.4%. NCB […]
|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX) today announced the launch of its latest investment service ‘Technical Short Selling’ (TSS), an addition to the existing suite of services and products provided by ADX to investors through brokerage firms. The launch of this new service falls in line with ADX’s strategy to increase liquidity levels as well as diversify investment and hedging instruments in order to […]
|By Arabian Post Staff| Middle East Venture Partners (MEVP) announced the launch of its third MENA venture capital fund – the Middle East Venture Fund III (MEVFIII) – with a target size of $250 million. MEVFIII will invest in innovative early-stage and growth-stage tech companies in the MENA and Turkey region. The launch of the new fund follows the announcement in May 2017 that Mohamed Alabbar and MEVP […]
|By Arabian Post Staff| DP World Limited announced it has entered into agreements to acquire Maritime World LLC, owners of Dubai Maritime City, and Drydocks World LLC for a total cash consideration of $405 million. Of this, the Dubai Maritime City owners are to be acquired for $180 million while the Drydocks World for a cash consideration of $ 225 million. DMC is a world class maritime […]
|By Arabian Post Staff| The UAE Federal Tax Authority (FTA) announced that it will open online registration for tax purposes for businesses in mid-September 2017. The announcement was made at a media briefing by the FTA to familiarise with various aspects of the FTA’s work. The briefing also covered the implications of the tax procedures for boosting the momentum of the UAE’s sustainable economic development. Khalid Ali […]
|By Arabian Post Staff| Tourism Authority of Thailand (TAT) announced the reintroduction of its Women’s Journey Thailand campaign offering a range of activities, special deals, discounts and privileges in Thailand during the month of August. According to the latest statistics of international arrivals to the kingdom, the growth of female travellers has risen significantly over the past few years. According to Mrs. Srisuda Wanapinyosak, TAT Deputy Governor […]
