Some of the world’s biggest sovereign wealth funds are increasingly striking their own private equity deals rather than relying on external fund managers, in a drive to cut costs and gain more control. With some $6.5 trillion in assets, sovereign investors already account for 19 percent of capital committed to private equity, according to data from research firm Preqin. But mega-funds such as the Abu Dhabi Investment […]
An Abu Dhabi transport official has announced that drivers can challenge a parking ticket within 15 days of receiving it. The Integrated Transport Centre (ITC) at the Department of Municipal Affairs and Transport (DMAT) in Abu Dhabi said challenges to any parking tickets issued and be lodged with the Parking Division Grievance Committee (part of Mawaqif), providing the driver does so within at a period of 15 […]
Photo Defense Secretary Jim Mattis, left, with Col. Terry L. Anderson, the military attaché, in Munich on Thursday. Credit Sven Hoppe/DPA, via Agence France-Presse — Getty Images BAGHDAD — Defense Secretary Jim Mattis arrived in Baghdad on Monday, promising that, despite what President Trump said last month, the administration would not try to seize Iraq’s oil. Nor, he said, would the administration repay Iraqis who have worked […]
Australia and the UAE will explore closer defence ties after a meeting on Sunday between a senior Australian government minister and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. Australia’s Defence Industry Minister Christopher Pyne and Sheikh Mohammed, who is also Deputy Supreme Commander of the UAE Armed Forces, met on the sidelines of the biennial International Defence Exhibition and Conference (IDEX) in Abu Dhabi. The […]
ABU DHABI // The British royal navy is strengthening its presence in the Arabian Gulf after it took command of US Task Force 50 – the first time it has led a US force in the Middle East. The force, which has assisted in battling ISIL in Iraq and Syria, plays an important role in the region because it allows free passage of trade throughout the Gulf […]
Stock markets in the Middle East were mixed in modest trading volumes on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector, while Egypt fell as the currency hit a three-month high. Two-thirds of the 12 listed banks on Saudi Arabia’s bourse gained, lifting the index 0.1 percent. Alawwal Bank added 2.7 percent, with most activity occurring in the last hour of […]
Last week, as delegations from the new US administration, Russia, China and the EU gathered at the Munich Security Conference to discuss the strategic challenges facing the international community, a very different international assembly was taking place at the Abu Dhabi headquarters of the UAE’s Ministry of Culture and Knowledge Development. As ministers in Germany prepared to debate matters diplomats define as “hard power” – military and […]
|By Arabian Post Staff| Abu Dhabi National Oil Co. awarded China National Petroleum Company (CNPC) an 8 percent stake in its onshore venture in return for a $1.8 billion signing bonus, Adnoc said Sunday in a statement. State-run CNPC is the venture’s third Asian partner, joining Japanese and South Korean companies alongside BP and Total SA. Asia will show the fastest growth in energy demand over the next […]
Partnership will maximise onshore field value in support of ADNOC’s long-term growth objectives 19 February 2017 Abu Dhabi, UAE – Abu Dhabi National Oil Company (ADNOC), today, signed an agreement with the China National Petroleum Corporation (CNPC), awarding it an 8% interest in Abu Dhabi’s onshore oil concession. CNPC contributed a sign up bonus of AED 6.5 billion ($1.77 billion) to enter the concession. The onshore […]
ABU DHABI U.S. Defense Secretary Jim Mattis on Sunday distanced himself from President Donald Trump’s assessment of the media as “the enemy of the American people,” saying during his first trip to the Middle East that he had no problems with the press. Asked whether he agreed with Trump’s remarks, Mattis said: “I’ve had some rather contentious times with the press. But no, the press, as far […]
UAE-based developer Manazel Real Estate has announced that it is preparing to launch a major coastal project in the Ghantoot area, an area situated between Dubai and Abu Dhabi. The project is currently in the licensing stage, with further details to be announced at the Cityscape exhibition in Abu Dhabi in April, the company said in a statement. Mohamed Mehanna Al Qubaisi, chairman of Manazel Real Estate, […]
DUBAI // The Terry Fox Run returned to Dubai yesterday for the first time in three years, with more than 4,000 people taking part in the cancer research event despite the cool, cloudy weather. Participants were able to run, walk, bike and rollerblade or use a wheelchair on the 5-kilometre route on the creek side of Dubai Festival City Mall. The event was held under the patronage […]
ABU DHABI // Sheikh Mohammed bin Zayed met the US defence secretary, James Mattis, on Saturday in Abu Dhabi. Sheikh Mohammed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, wished Mr Mattis success and congratulated him on his appointmented, reported Wam, the state news agency. They discussed ways to strengthen cooperation between their countries, particularly in military affairs and defence, as well […]
Red Baraat’s oft-touted boast as “the best party band in years” – a quote from America’s National Public Radio they are so proud of it is part of their website display name – was under no threat when they kicked off a multi-emirate UAE tour in Abu Dhabi on Friday (February 17). The eight-piece Brooklyn troupe opened the second day of Barzakh Festival, a two-day celebration of […]
18 February 2017 Abu Dhabi – NIMR Automotive, a subsidiary of Emirates Defence Industries Company (EDIC), the UAE’s integrated defence manufacturing and services platform is showcasing its new JAIS 6×6 military vehicle at the International Defense Exhibition and Conference (IDEX), demonstrating Abu Dhabi’s growing capabilities in military manufacturing. “This vehicle is a major milestone for NIMR as we grow our production, expand our product range and break into new […]
Your daily guide to community and cultural activities across the Emirates for February 19, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Abu Dhabi Art exhibition Catch […]
ABU DHABI // Parents have a responsibility to educate their children about separating recyclable material, says Abu Dhabi’s centre for waste management. Tadweer has provided more than 200,000 black and green bins across the emirate to make separation easy and feasible for everyone. Mohammed Sadique, an Indian resident of Al Zahiya, is one father who has taken up the challenge. “I have two children, aged 7 and […]
ABU DHABI – U.S. President Donald Trump’s defense secretary arrived in the United Arab Emirates on Saturday for talks with one of Washington’s closest allies in the Middle East. Jim Mattis, on his debut trip to the region as Pentagon chief, was expected to meet Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahayan and U.S. embassy representatives. U.S. officials have not disclosed details about his agenda. […]
18 February 2017 Manama, Bahrain – The American Chamber of Commerce Bahrain (AmCham Bahrain), the hosts of this year’s AmCham MENA Regional Council’s Bi-Annual Forum, today announced the Bahrain Economic Development Board (EDB) as the Strategic Partner for the upcoming event being held on the 15-16 March 2017 in the Kingdom of Bahrain. The Forum, which aims to promote trade and investment between the United States and markets of the Middle […]
The shortlist for this year’s International Prize for Arabic Fiction has been announced with novels representing the best in contemporary Arabic literature. The finalists for this year’s prize are A Small Death from Saudi Arabian author Mohammed Hasan Alwan; The Slaves’ Pens from Libya’s Najwa Binshatwan; Al-Sabiliat from Kuwaiti author Ismail Fahd Ismail; Children of the Ghetto — My Name is Adam from Lebanon’s Elias Khoury; In […]
ABU DHABI // The bodies of Emirati servicemen Lance Corporal Soliman Mohammed Soliman Al Dhohouri and Sergeant Nader Mubarak Eisa Soliman, who were martyred in Yemen, have been buried by their families. The General Command of the Armed Forces announced that the two died while performing their duty as part of Operation Restoring Hope, being conducted by the Saudi-led Arab Coalition to support and restore the legitimate […]
The average annual rent for an apartment in Dubai fell to AED114,000 ($31,000) in January, down 3 percent from the previous month, according to a new report. Real estate website Bayut also said average rents in neighbouring Abu Dhabi rose by 3 percent to AED120,000. During January, Bayut said average rental yield for all apartment types in Dubai topped out at 5.72 percent, but yields in individual […]
Your daily guide to community and cultural activities across the Emirates for February 18, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Al Ain Literary evening Attend […]
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Abu Dhabi Airports has awarded a five-year car parking contract for the under-construction Midfield Terminal Complex (MTC) to Zone Parking Solutions. The company will be responsible for the design, supply, installation, operation and maintenance of a centralised system at the short-term, long-term and employee car parks, state news agency WAM reported. The MTC is being built to accommodate the expected surge in traffic at Abu Dhabi International, […]
