James Foley described himself as ‘a war protester’ who retrained as a journalist (EPA) • Latest developments following beheading of James Foley ‘I had made the gruelling journey by car, but Jim Foley, ever resourceful, arrived by Chinook helicopter. The destination was Sirte, the Libyan city where, in October 2011, Colonel Muammar Gaddafi and his troops were making a last stand. Foley had caught a lift with […]
People walk near The Gate building at the financial and business district Dubai International Financial Center (DIFC) in Dubai. Reuters Dubai’s financial hub is growing up. Since it was established a decade ago, the Dubai International Financial Centre has become the number one choice in the Middle East for many of the world’s leading banks, law firms, asset managers and insurers from where to conduct their regional […]
Topaz website For proof that a rising tide doesn’t lift all boats look no further than Dubai’s Topaz Energy and Marine. In the dark days following the global recession it scrapped a planned $500 million London IPO in 2011 that valued the company between $1.6 billion and $1.9 billion. Since then regional economies and capital markets have recovered strongly. Fast forward to Wednesday and Standard Chartered Private […]
BANGALORE: India, not US, will be the launch-pad for Amazon’s plan to deliver packages using drones, or unmanned aerial vehicles, according to two people aware of the development. The US-based e-tailer will debut its drone delivery service with trials in Mumbai and Bangalore, cities where it has warehouses, the sources said on condition of anonymity…. This content is for Monthly, Annual, Free Trial and Basic members only. […]
NEW DELHI: The government plans to create public sector energy giants with a massive restructuring exercise that will amalgamate all state-run hydropower firms and transfer their thermal projects to NTPC to create strong companies that can take on the rapidly growing private conglomerates. The exercise aims to merge all four central hydropower companies. According… This content is for Monthly, Annual, Free Trial and Basic members only. […]
Mumbai: Insurance Regulatory and Development Authority (Irda) has allowed insurance companies to invest in onshore rupee bonds issued by Asian Development Bank (ADB) and International Finance Corporation (IFC), an arm of the World Bank. IFC had sent a representation to Irda to permit insurers to invest in onshore rupee bonds to be issued by it…. This content is for Monthly, Annual, Free Trial and Basic members only. […]
NEW DELHI: Mexico is eyeing to attract companies from India to invest in its oil and gas sector. The Latin American nation has recently made reforms that would now facilitate foreign companies to pick up stake in energy projects in the country. Over 85% of Mexico’s crude oil exports were to India in 2013…. This content is for Monthly, Annual, Free Trial and Basic members only. […]
The Indian Army is making incremental, but confused, progress in upgrading its depreciated artillery profile that has languished gravely since the import of Bofors howitzers in the late 1980s. It recently completed trials for two 155mm/52 caliber howitzer systems and is readying its report on the try-outs in Rajasthan last summer and in Sikkim in… This content is for Monthly, Annual, Free Trial and Basic members only. […]
Militant Group Says It Killed American Journalist in Syria James Foley, in a photo from the website FreeJamesFoley.org, in Aleppo, Syria, in November 2012, the month he disappeared. By RUKMINI CALLIMACHI August 19, 2014 The Islamic State in Iraq and Syria posted a video on Tuesday that it said showed the beheading of James Foley, an American journalist who was kidnapped in Syria nearly two years ago, according to […]
August 19, 2014 Open Source By ROBERT MACKEY After St. Louis county police officers in full battle gear trained sniper rifles on peaceful protesters in the suburb of Ferguson last week, and then proceeded to douse the streets in tear gas and round up journalists, a Russia analyst named Mark Adomanis observed that images of a crackdown on dissent in the United States would make life easier […]
Islamic State insurgents released a video on Tuesday purportedly showing the beheading of U.S. journalist James Foley, who had gone missing in Syria nearly two years ago, and images of another U.S. journalist whose life they said depended on U.S. action in Iraq. The video, titled “A Message To America,” was posted on social media sites. It was not immediately possible to verify its authenticity. Foley, who […]
Brokerages in the United Arab Emirates, where the market regulator last month vowed it may create new rules to control so-called margin trading, are increasingly offering Shariah-compliant versions of the service. The practice contributed to stock market volatility in the country this year that sent Dubai’s benchmark index from a bull market into a bear and back again in less than a month. The U.A.E. said it […]
OPEC is not worried about a slide in oil prices towards $100 a barrel, delegates from the producer group said, with current levels seen as acceptable for producers while higher seasonal demand in the coming weeks was expected to support the market. Brent crude fell to a 14-month low of $101.11 a barrel on Monday as investor concerns over conflict in Ukraine and Iraq eased and Libyan […]
Airport retailer Dubai Duty Free (DDF) is repricing a $1.75 billion syndicated loan for the second time in just over a year to obtain more favourable terms, a fresh sign of banks’ willingness to lend cheaply to the emirate. The six-year loan, originally signed in July 2012, was split between dirham- and U.S. dollar-denominated tranches, both priced at 325 basis points over the London interbank offered rate […]
A year after a $920 million payment default at a spot commodities bourse cut trading from gold to soybeans futures, jolting India’s biggest brokerages, investors are returning as newer regulations buoy confidence. The volume of commodities traded on the Multi Commodity Exchange Ltd. (MCX), India’s biggest commodity bourse, has rebounded from a five-year low after the regulator tightened warehousing and shareholding norms in response to the payment […]
Dubai is changing its financial rules in an effort to attract more asset managers – particularly those serving the richest and most risk-tolerant investors, such as hedge funds and private equity funds – to base themselves in the emirate. The rules create a new class of funds that can be domiciled in the Dubai International Financial Centre (DIFC), facing less stringent regulation and thus lower costs than […]
|By TAP Staff| Aldar Properties has reported a strong wave of demand for long-term, bulk lease deals from corporate clients. The lease agreements signed with corporate clients range from two to 30 years, providing Aldar with long-term security of income. Both local and international companies have signed bulk leases at Al Rayyana, The Gates Towers, The Arc, Sun and Sky Towers and Al Murjan Tower over the […]
Kuwait’s Americana owns the franchise for popular fast-food chains such as TGI Friday’s, KFC (pictured above) and Pizza Hut in the Middle East and North Africa region. Bloomberg Kuwait’s Americana is in demand. Several investors, both regional and international, are apparently interested in acquiring a stake in the company that owns the franchise for popular fast-food chains such as TGI Friday’s Inc, KFC and Pizza Hut in […]
People wait to buy Ooredoo SIM cards in Yangon, Myanmar. Zumapress Qatar-based Ooredoo on Friday became the first foreign telecommunications company to offer services in Myanmar, setting up the country to be one of the world’s first predominantly mobile-Web nations. Ooredoo’s rollout, more than a year after the company won one of two coveted licenses to operate in Myanmar, will be followed by service from Norway’s Telenor […]
Local lenders in Saudi Arabia are dominating the market, prompting overseas banks to surrender their licenses as they struggle to compete, the chief executive officer of Standard Chartered (STAN) Plc in the country said. “International banks have found this market more challenging to find their edge and differentiate themselves enough to build a viable business,” Boutros Klink, chief executive officer of Standard Chartered Capital Saudi Arabia, said […]
Kuwait Food Co (Americana) said on Monday that it had no knowledge of any talks with Saudi Arabia’s Savola Group on a possible acquisition of Americana. “The board and executive administration deny knowledge of any negotiations with Savola regarding an acquisition of Americana,” the Kuwaiti company said in a statement to its stock exchange. A recent meeting between the two companies was intended only to discuss the […]
Shareholders of National Bank of Ras Al Khaimah (RAKBANK) have approved a 3.64-dirham ($0.99) per share offer to buy a majority stake in Ras Al Khaimah National Insurance Co, the bank said on Monday. RAKBANK’s proposed price is slightly below RAK insurance’s closing price on Aug. 17 of 3.7 dirhams. The stock has not traded on Monday. RAKBANK did not specify the size of the stake it […]
Investment Corporation of Dubai, the emirate state-owned holding company, is seeking to refinance an $880 million loan taken out by resort hotel Atlantis, The Palm, according to four people with knowledge of the matter. The company hired HSBC Holdings Plc (HSBA), Standard Chartered Plc (STAN), and Emirates NBD PJSC on the deal, three of the people said, asking not to be identified as the talks aren’t public. […]
German Rolf Buchholz, who holds the world record for having the most piercings, was refused entry into Dubai because of security concerns. He was due to perform at a Dubai nightclub. Associated Press The world’s most pierced man proved too much for Dubai authorities on Friday as they refused him entry amid allegations of “black magic”. Rolf Buchholz had just arrived in Dubai and passed through immigration […]
