Dubai luxury property developer DAMAC is offering investors the option of converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai’s main stock market. Investors would get around 23.08 shares per GDR. They have until Sept. 2 to decide on the offer, the developer said in a statement to the London bourse on Wednesday. No new shares […]
Damac Properties is recommending investors convert GDRs, listed on the London bourse, into shares that would be listed on Dubai’s stock market. Reuters A company needs to sell at least 55% of its stock to list on the main U.A.E. bourses – a regulation that has been blamed in part for the weak IPO market in the Arab Gulf country. After all, most big companies in the […]
By ISABEL KERSHNER and FARES AKRAM July 31, 2014 JERUSALEM — Prime Minister Benjamin Netanyahu of Israel said on Thursday that he would not agree to any cease-fire proposal that does not allow the Israeli military to complete its mission of destroying Hamas’s tunnel network in Gaza. “So far we have neutralized tens of terror tunnels,” Mr. Netanyahu said in televised remarks at the start of a government meeting at military […]
Even the best albums contained the occasional dud – did anyone ever look forward to hearing the obligatory Ringo song on a Beatles album? . Photo: AFP/Getty Images My home is full of vinyl. It’s there in the living-room, the study, the spare bedroom – all my yesterdays, the good, the bad the ugly, filed in batches of 30 in sturdy black plastic boxes (they weigh a ton!), […]
A cease-fire proposal by President Abdel Fattah el-Sisi of Egypt met most of Israel’s demands; Hamas immediately rejected it. By DAVID D. KIRKPATRICK July 30, 2014 CAIRO — Battling Palestinian militants in Gaza two years ago, Israel found itself pressed from all sides by unfriendly Arab neighbors to end the fighting. Not this time. After the military ouster of the Islamist government in Cairo last year, Egypt has led a […]
Tata group will invest about $35 billion over the next three years to focus on new business areas such as infrastructure, defence and aerospace, as well as expanding its global footprint. The salt-to-software group has operations in more than 100 countries and combined revenue of $103 billion at the end of the fiscal year in March, with 67 percent coming from outside India. The Tata group includes […]
Three young rebels, their AK47s propped against wooden stools in the afternoon heat, guard the entrance to the giant Ndassima goldmine carved deep into a forested hilltop in Central African Republic. Sat in a thatched shack at the edge of a muddy shantytown, the gunmen keep the peace – for a price – among hundreds of illegal miners who swarm over the steep sides of the glittering […]
Emerging-market stocks fell as the European Union and U.S. said they’re imposing tougher sanctions against Russia to punish President Vladimir Putin for supporting Ukrainian rebels. The Ibovespa fell the most in a month after Brazilian industrial production declined. India’s S&P BSE Sensex Index dropped for a second day as motorcycle manufacturer Hero MotoCorp Ltd. slid 1.6 percent. Stocks in South Korea and China advanced as automakers and […]
The Gulf states have become the most stable and influential force in the Arab world, with the decline of the Egyptian role, the spread of turmoil and chaos in Syria and Iraq and Algeria’s retreat on itself after the “black decade” of the 1990s. Because of political stability and increasing oil revenues, the Gulf states have accumulated financial wealth that has strengthened their political, economic and media influence in […]
Large sections of Gaza, including Gaza City’s Shijaiyah neighborhood, have been destroyed in the current 20-day battle with Israel. By JODI RUDOREN and BEN HUBBARD July 27, 2014 JERUSALEM — Hamas, the militant Palestinian faction that dominates the Gaza Strip, has more to boast about in its current 20-day battle against Israel than ever before. Forty-three Israeli soldiers have been killed in fierce fighting. Gunmen infiltrated Israel through tunnels five times. Rockets […]
New Delhi: The NDA government has deferred its decision on the procurement of 16 multi-role helicopters for the Indian Navy as one of the two companies in the race for the deal is linked with Finmeccannica– the parent organisation of the scam-tainted firm AgustaWestalnd.
The Defence Acquisition Council headed by Defence Minister Arun Jaitley put off its decision on the procurement of the helicopters for the Navy from vendors including American Sikorsky and European NH Industries, which has Finmeccannica as one of its partners, highly-placed sources said.
Finmeccannica is the parent firm of AgustaWestland firm, whose Rs 3,600 crore contract for supplying 12 VVIP choppers to the IAF has been scrapped by the
Israel says it has resumed its raids in Gaza because Palestinians have ignored the 24-hour extension of a humanitarian cease-fire that was requested by the United Nations. The military said Sunday “following Hamas’ incessant rocket fire throughout the humanitarian window, which was agreed upon for the welfare of the civilian population in Gaza, the IDF will now resume its aerial, naval and ground activity in the Gaza […]
New Prime Minister Narendra Modi is facing criticism for remaining silent about incidents deemed anti-Muslim in the past week, underscoring fears that his Hindu nationalist followers will upset religious relations in the multi-faith nation. Modi’s Bharatiya Janata Party swept to power in May after an election campaign that mainly focused on promises to revive the economy but that also made reference to India’s majority Hindu identity. Footage […]
Slide Show | Two Baghdad Neighborhoods, a World Apart The two neighborhoods, Sunni Adhamiya and Shiute Kadhimiya, once inextricably joined in the imagination of Baghdad residents, are drifting further apart. By ALISSA J. RUBIN July 26, 2014 BAGHDAD — Al Imams Bridge spans the Tigris River between two of the oldest communities in Baghdad — one Sunni, the other Shiite — and on Ramadan evenings it can seem as if […]
Prime Minister Benjamin Netanyahu of Israel has so far not agreed to a broader cease-fire plan. By JODI RUDOREN July 26, 2014 JERUSALEM — Prime Minister Benjamin Netanyahu of Israel is stuck between mounting international outcry over civilian casualties from his assault on the Gaza Strip and intensifying calls at home to finish the job he started. Several of his top ministers are pushing for a full takeover of […]
The European Union reached outline agreement on Friday to impose the first economic sanctions on Russia over its behavior in Ukraine but scaled back their scope to exclude technology for the crucial gas sector. The EU also imposed travel bans and asset freezes on the chiefs of Russia’s FSB security service and foreign intelligence service and a number of other top Russian officials, saying they had helped […]
Regulators in Jordan have introduced a set of long-awaited rules for the issuance of sukuk, or Islamic bonds, paving the way for both the public and private sectors to tap into growing demand for sharia-compliant investments. Jordan is one of several Muslim-majority countries keen to develop their domestic Islamic finance sector and the government is studying a proposal to issue a sovereign sukuk, mirroring efforts by Egypt […]
Households could claim cashback for installing double or triple glazing Photo: Alamy After just six short weeks, the Green Deal Home Improvement fund is no more. The cashback fund, launched on June 9, abruptly closed to new applicants on Thursday night. The Department for Energy and Climate said “overwhelming popular demand” meant the allocation of £120m – meant to last until April 2015 – has already been hoovered […]
Du, the United Arab Emirates’ second biggest telecoms operator, expects to offer Internet-based phone calls and broadband services across the country before the year-end in a network sharing deal with rival Etisalat that has been in the works since 2009. This network sharing agreement is an important step for du, which ended Etisalat’s domestic telecoms monopoly in 2007, but which has since been limited to newer areas […]
When Finance Minister Arun Jaitley kept the FDI cap in defence at 49 per cent, he said: “Our assessment of the market is that the 49 per cent FDI limit in the sector would be a significant step in establishing domestic defence market. The public opinion and Parliament’s opinion in India is ready to accept the proposal that I have made.”
Mr. Jaitley was also in consonance with the policy sentiment that has evolved within the government over many years. As far back as in 2004, key economists argued before the Planning Commission that 100 per cent FDI in high technology would enable India to reduce or limit its technology imports; in 2008, the National Manufacturing Competitiveness Council constituted by former Prime Minister Ma
HSBC Holdings Plc (HSBA) and JPMorgan Chase & Co. (JPM) are among the banks set to profit after the Riyadh-based Capital Market Authority announced plans this week to open Saudi Arabia’s bourse to foreign investors. The CMA said on July 22 that it would open up the oil-producing kingdom’s $531 billion stock market to foreigners next year. That may attract inflows of about $35 billion to the […]
A broker monitors stock prices on a screen at the Saudi Investment Bank in Riyadh. Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year. Reuters With a market capitalisation of more than half a trillion dollars, Saudi Arabia’s plan to allow foreigners direct access to its listed companies early next […]
Thousands of Israeli troops backed by tanks, aircraft and navy ships continued what appears to be a limited advance into the Gaza Strip on Friday, the second day of a ground invasion into the Palestinian territory. Palestinian medics say at least 21 Gaza residents have been killed since the start of the ground offensive, which has the stated aim of destroying tunnels militants have used to attempt […]
A view of southwestern Syria in late April, from an Israeli lookout post in the Golan Heights. Israel has placed soldiers in the Golan to stand guard against any Syrian attack. Nicholas Casey/The Wall Street Journal GOLAN HEIGHTS—Each morning after sunrise, soldiers from the Israel Defense Forces stand on a hill and look into their binoculars over two parallel fences topped in barbed wire that stretch out […]
