|By Arabian Post Staff| Marya Group, headquartered in Abu Dhabi, announced an increase to its investment portfolio, bringing the total invested to more than $ 1 billion. Marya Group focuses on making private and public equity investments in cash-generating business with strong fundamentals across core economic sectors that are resilient: education, health care, food and beverage processing as well as real estate. Its investments are centered on […]
|By Arabian Post Staff|Saudi Arabia’s banks are seen more likely now than ever before to tap the international bond markets. According to data compiled by Bloomberg, Saudi banks have less foreign currency debt outstanding compared to any other GCC country. Of the 57 securities outstanding from issuers in the kingdom, only one is a dollar bond from a bank, compared with more than 400 foreign-currency notes from […]
|By Arabian Post Staff| Uzbekistan’s banking system recently received Moody’s endorsement when the agency acknowledged that the country’s banks continue to benefit from a growing economy with well-diversified export revenues. “As a result, banks in Uzbekistan are somewhat shielded from the volatility characteristic of some other countries in CIS,” Olga Ulyanova, a Vice President – Senior Analyst at Moody’s, said in a report. The International Monetary Fund […]
ABU DHABI // Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, received the Yemeni prime minister Dr Ahmed Obeid bin Daghr at the Sea Palace on Monday. Sheikh Mohammed and Dr bin Daghr discussed the latest developments in Yemen in light of progress achieved by government forces on a number of fronts and political developments, especially the peace […]
ABU DHABI // A pilot scheme to allow Filipinos working overseas to apply for an exit clearance each time they return home on holiday is to begin next month, officials announced on Monday. Those returning to the same employer and job site and listed on the electronic data base of the Philippine overseas employment administration (Poea) will no longer be required to secure an overseas employment certificate, […]
DUBAI // An American television network has been criticised by UAE residents after one of its anchors cited a report that Gems schools, based in Dubai, funded jihad. The comments, aired on a Fox Business Network show hosted by British-American Stuart Varney, were taken from a report from US political website The Daily Caller. Fox reiterated that the views were not that of the channel but of […]
UAE. Project activity in the UAE is forecast to recover in 2017 after a difficult 2016 on the back of a strong recovery in economic growth, according to a new report from Middle East business intelligence service MEED. MEED’s annual UAE Outlook Report for 2016 says that a recovery in oil prices combined with growing public and private sector activity boosted by Dubai’s preparations for the Expo […]
ABU DHABI // Expatriates will have to pay their traffic fines before they can leave the country for business or holidays, under a plan being considered. The idea has been put forward by the Federal Traffic Council and, if approved, expats will be told to pay their fines at airports and land borders or miss their trip. Road-safety experts say the move could make motorists think twice […]
ABU DHABI // After six years of trying to conceive, 40-year-old Iqbal Hussain and his wife were blessed with a son but their happiness was short lived. Mrs Hussain delivered the baby boy at a government hospital in Ajman. Her infant, born at seven months, had to remain in an intensive care unit for another two, resulting in a bill of Dh129,000 – Dh114,000 for the baby’s […]
ABU DHABI // The President, Sheikh Khalifa, led congratulations for King Mohammed VI of Morocco on the anniversary of his accession to the throne, known as Throne Day. Sheikh Khalifa sent a congratulatory cable to King Mohammed VI of Morocco, as did Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the […]
|By Arabian Post Staff| First Gulf Bank reported a lower Group net profit for the first half of this year, recording AED 2.64 billion for the six-month period ended 30 June 2016, compared to AED 2.87 billion for the first half of 2015 FGB, one of the leading banks in the UAE, reported second quarter 2016 Group revenue growth of 3%, while Q2’2016 net profits were recorded at AED […]
Solar Impulse 2 has taken off for the final time, but its crossing of the Saudi desert – managing no-fly zones, wind and heat – could make its last flight the most difficult. Swiss pilot Bertrand Piccard, who took off from Cairo on Sunday and is expected to land in Abu Dhabi on Tuesday, will be navigating a region riven by tensions and conflicts that prevented him […]
ABU DHABI // They may sound like the stuff of science fiction, but driverless cars could be key to reducing the number of accidents in the UAE, experts say. More than 90 per cent of accidents involve driver error and machines have been proven to drive more reliably than humans, said Lee Woodcock, global product director for intelligent mobility at the engineering consultancy Atkins. “The potential is […]
ABU DHABI // Love the idea of Pokemon Go, but can’t be bothered putting in the leg work? There is a solution – but it doesn’t come cheap. Players at advanced levels are selling their accounts for up to Dh15,000 on classified websites. Omar Moued, 29, decided to try his luck on dubizzle.com after watching a video about a player in the UK who sold his account […]
DUBAI // Weekend road closures at main exits on Sheikh Zayed Road have been announced by the Roads and Transport Authority. The closures will effect the Al Meydan and Al Hadiqa exits and will last from midnight on Thursday to 5am on Sunday. Drivers headed towards Al Hadiqa Street are advised to use the Umm Al Sheif Road exit as an alternative, while those going towards Al […]
Elton John, Selena Gomez, Major Lazer and All Saints are among the raft of international stars to perform in the UAE before the year is out. The names have been revealed as part of the upcoming autumn season of concerts at Dubai’s new Autism Rocks Arena. John will perform at the purpose built venue, at Dubai Outlet Mall, on December 15. Appearing as part of the next […]
UMM AL QUWAIN // Nasser Sultan bin Yousef is a man that has the drive to make his cafe business a success. The Emirati businessman has gone full throttle into a unique cafe experience that aims to offer traditional hospitality and food, with a slice of automotive history. He has fashioned the Kashteh Cafe from a 1980 Land Rover Defender 011 that has been decorated with Emirati […]
ABU DHABI // Pet owners are being advised to keep an eye on their cats and to get them microchipped after claims that a number of animals have been mistaken for strays and rounded up by pest-control services. Warnings have been issued by animal welfare groups in Dubai and Abu Dhabi. In the capital owners have desperately been calling around more than 70 pest controllers to try […]
ABU DHABI // More than 700 abandoned vehicles have been impounded by Abu Dhabi Municipality after their owners failed to remove them. The municipality said on Tuesday that it had issued 3,406 warnings to owners of unattended vehicles and impounded 765 vehicles. The moves were part of a campaign in Mussaffah aimed at removing the vehicles, which the municipality said affected the city’s “civilised appearance”. The campaign […]
ABU DHABI // One of Britain’s most wanted fugitives is believed to be hiding in Dubai. British police want to question Shane O’Brien, 28, in connection with the stabbing death of 21-year-old Josh Hanson outside a bar in London last October. O’Brien was initially believed to be in the Netherlands but police said the latest information suggests he travelled to Dubai. “While our information links O’Brien to […]
|By Matein Khalid| The merger of Abu Dhabi banks First Gulf Bank and NBAD creates the largest bank in the Middle East, a regional colossus with $170 billion in assets, competitive funding cost in the global interbank/capital markets and a market value greater than Credit Suisse, Standard Chartered Bank (SCB) and Deutsche Bank. This is the biggest game changer event in UAE banking and finance since the […]
ABU DHABI // The most academically gifted pupils in the country were rewarded for their hard work at a ceremony at the Emirates Palace hotel on Wednesday. One hundred and fifty high achievers from public schools received certificates from Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Cooperation, at the Best Achievers Awarding Ceremony There was jubilation at the ceremony, organised by Abu Dhabi Education […]
ABU DHABI // Shoppers have complained of high parking fees at Al Wahda Mall as customers shop during Ramadan and ahead of Eid. One shopper, Sanober Shah, said she was “shocked” to have to pay Dh100 after spending seven hours at the mall, where she has shopped for years. “As far as I knew, the first three hours of your cark parked there are free, then you […]
ABU DHABI // Vitamin D deficiency, consanguinity and obesity are major reasons that the Gulf’s rate of infertility is higher than that of the West, doctors say. “Today, infertility is globally acknowledged to be a major health problem,” said Dr Human Fatemi, medical director of IVI Middle East Fertility Clinic in Abu Dhabi. “It is estimated that infertility affects 15 per cent of the global population of […]
