Arabian Post Special

Quips at the ready, the former premier is a man transformed facing a fight that he can win

By Alan Cochrane, Scottish Editor 8:59PM BST 03 Jun 2014 A FUNNY thing happened to me on my way to save the Union yesterday; Gordon Brown cracked a joke and everyone laughed. Mind you, there was a bit of a delay, a sort of double-take, whilst the people in the room – assorted Labour politicians and reporters – worked out if their ears had deceived them or […]

EgyptAir Expects Stability to Boost Its Growth Prospects

With the election in Egypt last week of former army chief Abdel Fattah Al Sisi as the new president, a nation and a region awaits a potential period of stability in the troubled Arab state. And one company that is desperate for calm is the flag carrier EgyptAir. EgyptAir website “We expect some indication of recovery, especially after the presidential election,” said Sameh El Hefny, the chairman […]

Off the Cuff

Astronomers discover 17 times bigger earth

A rocky planet weighing 17 times as much as Earth has been found, surprising astronomers who expected it to be a big ball of gas. Scientists dubbed the planet a “mega-Earth” because it’s much larger than previously discovered rocky celestial bodies. The planet, sighted by the U.S. National Aeronautics and Space Administration’s Kepler spacecraft, is located 560 light years from Earth and circles a Sun-like star every […]

Off the Cuff

Banker-turned-bookie is World Cup betting king

Inside a nondescript office building in central London, a roomful of men and women sit at computer screens and talk over Skype with people in faraway places. Sharp-edged Cantonese fills the air, and a flat-screen TV emits a continuous din. It’s the chanting, singing Midlands crowd at Birmingham, England’s Villa Park Stadium: Liverpool at Aston Villa. The match has just kicked off. The name of the company, […]

Middle East

Palestinians form consensus government

Ramallah, occupied West Bank – Fatah and Hamas have unveiled a government of national consensus that will pave the way for elections for a new Palestinian president and parliament. The government of 17 politically-independent members, agreed on Monday, is already being put to the test, as Israel announced it would not negotiate any peace deal with it. The announcement came after the passing of a five-week deadline that […]

Middle East

Deadly fighting erupts in Libya’s Benghazi

Heavy fighting is raging in the eastern Libyan city of Benghazi, apparently between the armed group Ansar al-Sharia and irregular forces loyal to Khalifa Haftar, a former army general. Witnesses said on Monday that gunfire, which began the day before, could be heard across the city, particularly coming from a special forces army base in a western suburb of Benghazi. At least seven people have died and […]

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‘Give up dairy products to beat cancer’

‘As a scientist, all I can do is tell the truth based on the evidence,’ says Dr Jane Plant Photo: MARTIN POPE In 1993, the breast cancer that had plagued Jane Plant since 1987 returned for the fifth time. It came in the shape of a secondary tumour – a lump in her neck the size of half a boiled egg. Doctors told her that she had only […]

Economy

Discount on Dubai assets seen turning to premium

|By TAP Staff|Investors are paying a premium to buy highly rated MENA sovereign assets, indicating tighter spreads on them, Citibank said in a report. In the case of the mid-rated sovereigns of Bahrain and Dubai, spreads are still marginally higher than the BBB average, implying these sovereigns trade at a discount. But the report suggests that the recent rally in Bahraini and Dubai sovereign debt has meant […]

Average London Help to Buy buyer wage? £80,395

The property game: Help to Buy is also helping Londoners Photo: Justin Sutcliffe The Government is persistently defensive about its Help to Buy scheme, partly because the criticism has been so consistent. Two parts of the scheme have been rolled out by David Cameron in an attempt to improve the route to property ownership, or in his emotive words: “As prime minister I am not going to stand […]

May 29

Petulant Nats can’t face up to their role in boosting Ukip

Alex Salmond’s miscalculation gave No voters a perfect excuse to vote Ukip Photo: Christopher Pledger/Telegraph Has Alex Salmond lost it? The question becomes especially pertinent in the light of the SNP leader’s extraordinary reaction to his party’s decidedly underwhelming result in the Euro-elections. It is one thing for party bosses to be disappointed when their charges perform less well than anticipated. However, it is entirely another when they […]

May 27

David Cameron’s next EU challenge: renegotiation

Chancellor Angela Merkel and Prime Minister Cameron. Photo: AFP Tory MPs may have agreed not to panic in the light of Ukip’s big win, but that doesn’t mean David Cameron isn’t going to come under a huge amount of pressure from them in the coming days and weeks to do something, anything, to show he’s got the message. One of their demands is bound to be that the […]

Middle East

Egyptians Go to Polls Under Tight Security to Pick New President

CAIRO — Helicopters hovered over parts of the Egyptian capital, Cairo, early Monday as voting in the two-day presidential election began. Security was tight in many neighborhoods. Police blocked off streets and parts of city blocks to protect voters at polling stations. More than 400,000 Egyptian police and army soldiers were deployed Monday for the election, and more than 14,000 judges are overseeing the vote at polling stations across […]

Travelex buy puts Shetty in a new league

|By K Raveendran| It is indeed a milestone in the history of UAE’s expatriate business. The purchase of a controlling stake in Travelex by Dr B R Shetty is easily the biggest acquisition by an expatriate both in terms of its value and profile. It is also perhaps the biggest global brand acquired by a UAE-based Indian entrepreneur. There have been buyouts of higher values, but these […]

Markets

Asian shares hit one-year high on Wall Street rally

Asian shares hit one-year high on Monday thanks to a strong session on Wall Street and a decisive win for billionaire Petro Poroshenko in Ukraine’s presidential election. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent while Japan’s Nikkei share average gained 0.7 percent to hit one-month high. Investors took their cue from upbeat U.S. hosing data on Friday, with sales of new single-family homes […]

Angelina Jolie lays into Gwynneth Paltrow’s misery mumoir

Sour gripes: Gwyneth Paltrow’s lament has won little support from Angelina Jolie, above Photo: Getty Images Cat fight! Angelina Jolie has gone head to head with Gwyneth Paltrow; which would be pretty much every man’s brunette-on-blonde fantasy, were it not for the fact that one is so skeletal and the other so skinny that there’s a genuine risk their A-list bones might splinter into a million tiny […]

May 24

Shetty-acquired Travelex to be independent of UAE Exchange

|TAP Special|Travelex, which has been acquired by leading UAE businessman Dr. B. R. Shetty along with his partners associated with Centurion Investments, will continue to operate independently of UAE Exchange. The acquisition, to be effected through BRS Ventures & Holdings Limited, a company owned by Dr Shetty and equity partners associated with Centurion, is subject to customary regulatory and other approvals and consents. The acquisition will not […]

May 24

Venture capitalist Chamath Palihapitiya says Apple has lost its way, lauds Facebook and Google

Venture capitalist Chamath Palihapitiya, the former Facebook VP of growth for mobile and international, has criticized Apple’s strategies, saying the company is “screwed.” Palihapitiya, however, has a lot of praise for Facebook and Google.(Photo : Getty Images) Venture capitalist Chamath Palihapitiya says that Apple has lost its “mojo,” compared with the overall better jobs being carried out by tech rivals Facebook and Google. Palihapitiya, who describes himself […]

145 million eBay user accounts hacked: What lesson did we learn?

Let’s analyze what we should be careful about in the midst of the recent eBay hacking scandal. There are many lessons that can be learned from the incident about our privacy and security online.(Photo : Brian Cantoni I Flickr) As many of us have already found out, eBay was recently hacked while asking users to change their information and passwords. The question, however, is what we have […]

145 million eBay user accounts hacked: What lesson did we learn?

Emotions Stirred Ahead of Pope Francis’ Israel Visit

Orthodox Jews protested against the forthcoming visit of Pope Francis to Jerusalem. Josh Mitnick/Wall Street Journal Pope Francis wants to spur interfaith tolerance during a trip to the Holy Land, but a planned Papal mass at a Jerusalem holy site is stoking the embers of religious rivalry that have plagued the city for centuries. Just days before the Pope’s arrival, hundreds of religious Jews turned out at […]

Apple still very much interested in Beats but not for reasons you think

Apple’s blockbuster acquisition of Beats Electronics isn’t for technology. It’s for the talent. Apple reportedly wants music industry heavyweights Jimmy Iovine and Andre Young a.k.a. Dr. Dre on its executive board.(Photo : Beats Music) Apple’s rumored $3.2 billion acquisition of Beats Electronics is still happening, even though sources say the deal almost did not pull through several times, because Apple wants Jimmy Iovine and Dr. Dre on […]

Sue MacGregor: ‘I may not have had children, but don’t feel sorry for me’

Elaine Paige: ‘I do regret the fact that I never married and had a family of my own,’ she said. ‘But I’m of the belief that you can’t have it all’ Photo: David Rose When I heard what actress Elaine Paige said earlier this week, it struck a chord with me. “I do regret the fact that I never married and had a family of my own,” she […]

UAE Exchange to buy Travelex

|TAP Special|UAE Exchange owners are said to be in talks with Apax Partners, the London-based private equity firm that controls Travelex Holdings, to buy majority stake in Travelex. The transaction may be worth about 500 million pounds ($843 million). UAE Exchange is owned by BR Shetty, Centurion Investment and Infinite Investment LLC belonging to Abu Dhabi’s bin Butti family. Bloomberg reported quoting unnamed sources that a deal […]

Economy, India Takes

Complexities hold back sukuk’s global appeal

Islamic finance has been one of the fastest-growing sectors in global finance but the industry has yet to shake off perceptions about high costs and complexity that are holding back some issuers. Sukuk, or Islamic bonds that follow religious principles such as a ban on interest and speculation, are now a major funding tool for companies in the Middle East and southeast Asia, and are becoming increasingly […]

Ed Miliband’s own cost-of-living crisis

How much? Labour leader Ed Miliband estimated the price of his weekly shop at something like £70 or £80 – roughly £30 below the UK average Photo: PA David Cameron must have been beside himself with glee. On the penultimate day of campaigning for the local and European elections, his two main rivals – Nigel Farage and Ed Miliband – bounced from blunder to blunder. Mr Miliband kicked […]

May 21

Agenda, Talking Point

Storm fizzes out of a bottle

Coca-Cola’s Facebook page is supposed to have the biggest fan base for any brand. As per the latest tally, the page has over 82 million ‘likes’. A large part of this is obviously built up through paid promotion, but given that this is the highest number any single brand has managed to pull together on any social media platform, it is an achievement that the soft drink […]

May 20

A Metro ride to Sharjah: How do you like it?

|TAP Special| Sharjah might soon have its own Metro, which could be linked to Etihad Rai, as part of a massive plan to develop the emirate’s transport infrastructure, according to sources familiar with the plan. The newly-created Sharjah Roads and Transport Authority has been tasked with the responsibility of undertaking the feasibility studies in this regard. The plan also includes the development of new road networks and […]

May 20

BP Chief Economist Christof Ruhl to Join Abu Dhabi Sovereign Fund

BP’s chief economist is jumping ship to the Abu Dhabi Investment Authority to establish and run a global research team for the sovereign wealth fund. Christof Ruhl is joining the Abu Dhabi Investment Authority to establish and run a global research team. Bloomberg News Christof Ruhl, a German academic who specializes in energy economics and has been with BP since 2005, will start at ADIA in July, […]

May 20