|By Arabian Post Staff| The AED 1.9 billion debt restructuring deal by Dubai government-owned entity Limitless has run into trouble following resistance by some of the creditors, Reuters reported quoting three banking sources. The company needs complete creditor approval in order to push through any deal. The delay in completing the deal is causing uncertainty, particularly in view of the weakness in the UAE property market, the […]
|By Arabian Post Staff| IFC, a member of the World Bank Group, and the IFC Asset Management Company are investing $27 million in Souq, the largest e-commerce platform in the Middle East and North Africa. The investment will support the company’s growth, boost e-commerce in the region, and help create jobs and drive innovation. The investment will help Souq diversify its offerings and enhance its logistics and […]
|By Arabian Post Staff| Participants at the World Strategy Summit in Abu Dhabi emphasized the importance of establishing an international platform for strategy, leadership, and innovation. This platform would contribute to building governmental and business sector leadership and would be based on a comprehensive vision to understand the nature of future opportunities and challenges. The platform could then be used to create measurable scientifically-based strategies that are […]
|By Arabian Post Staff| Dubai’s investment plans are not threatened by the situation stemming from the fall in oil prices and its economic impact, Mohammad al-Shaibani, chief executive of state-owned Investment Corporation of Dubai (ICD), asserted. Although energy is a key determinant of business confidence, as far as Dubai is concerned, oil accounts for only 2 percent of the emirate’s economy, he pointed out. “There won’t be […]
|By Arabian Staff| Loan defaults and business owners fleeing the country leaving behind huge debts are becoming a routine affair in Dubai and other parts of the UAE, observers point out. According to EmiratesNBD, an increasing number of SME owners are being forced to flee and somewhat draws a parallel with the situation in the aftermath of the 2009 financial crisis. The problems of a slowing economy […]
|By Arabian Post Staff| The latest appendix to the Ericsson Mobility Report for the Middle East and North East Africa reveals that mobile data traffic will experience 16 times growth by 2021. This massive growth will be driven by availability of affordable smartphones, coupled with availability of mobile broadband networks in highly populated countries, increased number of subscribers moving to faster networks and growth of the video […]
|By Arabian Post Staff| The United Arab Emirates may cut government spending as a result of the slump in oil prices, Central Bank Governor Mubarak Rashed Al Mansoori indicated. The decline in the government’s oil revenue “may trigger further fiscal consolidation, albeit at a gradual pace, to preserve priority spending in support of non-oil growth,” Al Mansoori said at a conference in Dubai on Monday. Oil accounted […]
|By Arabian Post Staff| Young people in the UAE have revealed what they want for, and from, the future of major events in an international study launched ahead of the Host Cities 2015 summit. It finds young people in Dubai are most confident globally in their city’s readiness to host a major event and will overwhelmingly back a ‘home bid’ – with the FIFA World Cup their […]
|By Dr Alaa Alghamdi| Ambassador Mohammed bin Nawaf bin Abdulaziz’s eloquent plea in the UK Telegraph newspaper is a rational, well-stated reminder of the importance of fairness and respect amid today’s complex arena of foreign relations. As the Ambassador points out, Saudi Arabia and the United Kingdom have been allies since 1932, the better part of a century. This relationship presupposes a certain amount of trust between […]
|By Arabian Post staff| The rise of intelligent machines represents the evolution of the next industrial revolution, which will bring about a paradigm shift in the way we live and work, a special report on the subject by BankofAmerica-Merrill Lynch says. Robots and AI are becoming an integral part of our daily lives as providers of labour, mobility, safety, convenience, and entertainment. The year 2014 was the […]
Arab countries’ political, social and economic realities affect their nationals’ dreams. We spend a third of our lives sleeping. What if we can unlock the mystery of what happens in our subconscious minds when we’re asleep? Are our dreams connected to one another? Does our local environment influence what we dream? What if we had a tool that can analyze hundreds of thousands of people’s dreams to […]
|By Arabian Post Staff| Dubai’s external debt continues to be at tight spreads, given still high leverage and refinancing challenges but this is somewhat offset by certain positive aspects, a Bank of America-Merrill Lynch research report said. The positives include still solid local bid on the shorter end of the curve and its low-beta defensive status within an emerging markets context. The Iran nuclear deal is another […]
|By Arabian Post Staff| A scenario of continued fall in oil prices, OPEC oil export revenue could fall by a quarter despite the higher output, according to International Energy Agency outlook for oil. In the Low Oil Price Scenario, the Middle East’s share in the oil market ends up higher than at any time in the last forty years, it says. According to IEA, lower prices are […]
|Arabian Post Special| The US Administration has commended the UAE Central Bank and the Government for taking prompt action against a Dubai-based money exchange for supporting a money laundering racket run by a syndicate led by Pakistani national Altaf Khanani. The Anti-Money Laundering Unit of Dubai Police worked closely with the US Drug Enforcement Administration (DEA) to unearth the racket. The US Department of Treasury’s Office of […]
Redmond is doubling down on its OneNote note-taking app. Yesterday Microsoft announced a major new upgrade for the app. The latest versions contain a number of new features for a variety of devices, including iOS and Android updates, that will begin rolling out in the next couple weeks. Among the new features is the ability to add audio and attach files to your notes (pictured). The increased […]
|By Nitten Nair|I had never watched the movie “Up in the Air” starring George Clooney. Not because I don’t watch his films, but I found reading of the initial synopsis a little depressing. A guy who lives out of a suitcase because he has to fly around the world firing people – not so exciting. Nor did I come across any reviews which strongly stated otherwise. The […]
These novelty notepads from 6 fictional hotels add a touch of familiar strangeness to your most intimate missives. Choose a branded notepad from The Overlook Hotel from The Shining, The Great Northern Hotel from Twin Peaks, the Taft Hotel from The Graduate, and more, to give your notes a taste of unique Hollywood history. This entry passed through the Full-Text RSS service – if this is your […]
|By TAP Staff| Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense technologies, announced today the establishment of a jointly-owned subsidiary in Riyadh, Saudi Arabia, to support the company’s growing regional presence. The primary focus will be to strengthen Orbital ATK’s existing alliances in the country and collaborate with the Kingdom of Saudi Arabia to help it realize its self-sufficiency objectives in national security, […]
Airbus Group SE escaped order oblivion at the Dubai Air Show after negotiating a last-minute agreement to sell 30 narrow-body planes to VietJet Aviation — prompting the European planemaker to take a swipe at Boeing Co. over the announcement of a deal that had already been booked. VietJet agreed to buy nine current-generation A321s and 21 upgraded A321neos worth $3.6 billion at list prices after negotiations that […]
|By TAP Staff|An Emirati researcher has revealed the possibility of linking the rivers of Pakistan (rivers Dasht and Indus) to the UAE through undersea pipelines. The proposal is intended to support the world’s efforts in the face of climate change by helping to reduce the rise of sea levels and to fight desertification. Abdullah Al-Shehhi says, “The Pakistani river of Dasht is the closest river to the […]
|By TAP Staff| Dubai developer Limitless has failed to repay over $500 million, which it had promised to pay banks from the proceeds of a land sale in Saudi Arabia as part of the debt restructuring deal with the banks and this has apparently caused concern among the banks. Last week Bloomberg had reported that the developer should have paid about $517 million to banks more than […]
|By TAP Staff| Air Arabia results have disappointed market consensus, due to lower margins, but analysts see the airline continuing to focus on expansions in the future. According to Mubasher Trade (MTRe) analysts, despite the disappointing Q3 2015 results, they maintain BUY/MODERATE RISK rating for the company with a price target of AED2.06/share and expected total return of +62%. Revenues increased by 6% YoY to AED1.12 billion […]
Nitten Nair/Most of us complain about how work is sucking the fun out of life. In most cases, it is caused by our own doing and in many ways we have the power to change that. The first concept we should imbibe in ourselves is that work is a medium to help us live our lives the way we aspire. Life is not a byproduct of the […]
James Bond couldn’t wear just any old boot in the new movie. The iconic Brit happens to wear a pair of American-made all black Danners. Now you can too. Danner is offering a 007 version of their Mountain Light II hiker in a black on black colorway featuring a waterproof/breathable Gore-Tex liner and the classic Vibram Kletterlift sole. This entry passed through the Full-Text RSS service – […]
