Arabian Post Special

How UAE’s private sector can improve Emiratisation

Image: Bigstockphoto. For illustration purpose only How UAE’s private sector can improve Emiratisation DUBAI, 1 days ago There has been an increasingly competitive talent attraction landscape amongst UAE businesses for some time now, with many companies, particularly in the private sector, struggling to recruit enough Emirati nationals to fulfil goals laid out by the government. Gavin Smith, managing director of ReThink MEA, a specialist recruiter in the […]

September 22

Dubai World debt deal soon

|TAP Special| Dubai World will reach a deal on renegotiating its debt repayment schedule soon, Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai’s Supreme Fiscal Committee, disclosed. “I can say for sure we will reach it. It is there and you will hear about it soon,” he told reporters at the sidelines of Ciyscape. Dubai World had offered creditors a series of incentives to lengthen a $25 […]

September 21

Indians, Brits, Saudis Among Top Dubai Property Buyers

City skyscrapers stand on the waterfront seen from a construction site of residential apartments on Palm Jumeirah artificial island in Dubai. Bloomberg News A rebounding Dubai property market has caught everyone’s attention again. Following a colossal crash in property prices in the wake of the financial crisis, not many had expected a recovery so soon afterwards, or so swiftly. The total amount invested in the emirate’s property […]

September 18

What's On

Cisco Acquires Private Cloud Provider Metacloud

In a move to beef up its Intercloud strategy, Cisco is acquiring a privately-held company called Metacloud. The firm deploys and operates private clouds for global organizations with an OpenStack-as-a-service model. Metacloud’s model stands out in the industry because it both delivers and remotely operates production-ready private clouds in a customer’s data center. Cisco figures the platform will accelerate its strategy to build the world’s largest Intercloud. […]

September 17

Gaza Recovery Faces Major Challenges, IMF Says

A Palestinian family looks from a window at the rubble of a collapsed tower following Israeli airstrikes in Gaza City in a Aug. 26 file photo. Associated Press The outlook for Gaza’s economic recovery is “bleak” after a 50-day war between Israel and Hamas unless there is “a fundamental change of the political status quo”, according to a sobering International Monetary Fund report released Tuesday on the […]

September 16

Gaza Recovery Faces Major Challenges, IMF Says

September 16

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Emaar malls IPO institutional tranche sold out on first day

|By TAP Staff| Emaar Properties said the IPO of its shopping malls business unit has been sold out to institutional investors on the first day itself. The leading developer aiming to raise as much as AED 5.8 billion ($1.58 billion) from the offer of shares in Emaar Malls Group (EMG), which is expected to be the Gulf’s biggest stock sale since 2008. On offer are 2 billion […]

Let’s not allow Hong Kong to come between us

More and more places in Hong Kong now accept Chinese yuan Photo: ALAMY Lord Patten was the last governor of Hong Kong, and still, it seems, has a keen interest in its affairs. He has written a piece for The Financial Times, extolling his views on Britain’s “moral and political obligation” to its former colony. But his words, like his actions as governor, reveal that he never understood […]

Pace of Dubai Property Value Growth Slowing, Says Cluttons

Boom and bust – two words that are regularly heard when the property market in the United Arab Emirates, especially Dubai, is discussed. But that theme appears to be changing. At least that’s what some industry experts are indicating. The property market, after rebounding sharply since early 2013 from the global financial crisis-induced crash, is now showing signs of stabilising – with the pace of growth in […]

A glimmer of hope for the Union

By Telegraph View 6:00AM BST 15 Sep 2014 The United Kingdom is teetering on the brink of dissolution; opinion polls show that the Scottish referendum is too close to call with any certainty. Those polls also show that half a million Scots have yet to make up their minds. That is an unnerving statistic: the future of the country rests upon how their indecision crystallises on Thursday, […]

Lower oil price becomes political and economic necessity

|TAP Special| A lower oil price has now become both an economic and political necessity. This is in view of the complications introduced by the disruption of Middle East politics brought about by recent advances by the Islamic State in Syria and Iraq. Bank of America Merrill Lynch notes in a review of the regional political and economic situation that the threat of a radical Islamic Sunni […]

Middle East

Kerry Scours Mideast for Aid in ISIS Fight

Secretary of State John Kerry and Sameh Shoukry, the Egyptian foreign minister, in Cairo. By MICHAEL R. GORDON and DAVID D. KIRKPATRICK September 13, 2014 CAIRO — Secretary of State John Kerry received broad assurances but no public commitments from Egypt on Saturday as he continued his tour of the Middle East to try to assemble a coalition behind an American campaign against the extremist group known as the Islamic State in Iraq […]

September 14

Emaar targets Chinese for Shenzhen model Saudi city

|By TAP Staff| Emaar is eying significant investments by Chinese companies in its King Abdullah Economic City in Saudi Arabia. According to Fahd Al Rashed, chief executive of the city, several Chinese firms have shown interest and the company hopes to rope in up to 20 percent of investments from the Chinese. The King Abdulla Economic City envisages a port and business district as well as residential […]

September 14

Middle East

Paths to War, Then and Now, Haunt Obama

President Obama on Wednesday in Washington. Mr. Obama says he is aware of the “political price” he pays for being deliberate. By PETER BAKER September 13, 2014 WASHINGTON — Just hours before announcing an escalated campaign against Islamic extremists last week, President Obama privately reflected on another time when a president weighed military action in the Middle East — the frenzied weeks leading up to the American invasion of […]

September 13

Barack Obama’s plan to fight Isil is hard to believe

President Barack Obama, accompanied by Vice President Joe Biden Photo: AP Were it any other US president in recent memory, delivering a rousing White House address promising to “vanquish” the bloodthirsty militants of the Islamic State from the face of the earth would be dismissed as the “easy part”. Recall Joe Biden, the vice president with half an eye on a run for the top job in 2016, […]

September 13

Alibaba may find place in MSCI index

Stock index provider MSCI Inc is considering changing its rules to allow shares of Alibaba Group Holding and other companies that list their shares in faraway markets to be included in its widely used indexes. The MSCI announced that it was considering changing its rules last week, but did not explain the reason for the changes: questions from investors amid the Alibaba initial public offering, Reuters has […]

September 13

Banking & Finance

ADCB sets initial price on bond

Abu Dhabi Commercial Bank , the fourth-largest lender by market value in the United Arab Emirates, has set initial price thoughts for a benchmark five-year bond issue in the 95 basis points area over midswaps, a document from leads showed on Tuesday. ADCB, which is expecting ratings of A/A-plus from Standard & Poor’s and Fitch, has picked Barclays, ING, JP Morgan and Mizuho to arrange the bond […]

September 09

Lid off Iphone 6: What next?

|TAP Special| With the veil off Iphone 6, the buzz is now on what the tech giant will do to sustain the interest and loyalty of Apple enthusiasts. Apple has played the secrecy card for optimum results, so one can expect this policy to continue for products in the pipeline as well. A major talking point now is how soon the leading smart phone maker would introduce […]

September 09

Talking Point

Turning 5 global risks into 15 opportunities

By Bjørn K. Haugland & Erik Rasmussen How can we use the pressure from global risks such as extreme weather or water scarcity to create new sustainable business opportunities? This might be the single most important question for any company today. In current strategizing and business developing, we are very good at spotting risks associated with the sustainability challenges facing us. Markets will change, access to critical […]

September 08

Moody’s rating gives Sharjah sukuk an edge

Sharjah is offering investors an enticement that fellow emirate Dubai doesn’t as the sheikhdom gears up for its first Shariah-compliant bond sale this month: a credit rating. The emirate, which is more than twice the size of New York City, may price the debt to yield 2.5 percent to 3 percent if it’s a five-year issue, according to three fixed-income analysts surveyed by Bloomberg. That compares with […]

September 03

Investors in Qatar Eye FIFA Investigation Findings

Secretary-General Hassan Al-Thawadi (3rd L) of Qatar’s Supreme Committee for Delivery and Legacy, the nation’s 2022 World Cup organising committee, speaks during a news conference to announce the start of work on the Al-Khor Stadium in Al-Khor in June. Reuters Investors in Qatar are likely to hold their breath, and cash, this month: Well, at least until FIFA reports on its investigation of the bidding process for […]

September 02

Economy

Funds bullish on Saudi stocks despite high values

Middle East funds are bullish on Saudi Arabia’s stock market despite concern it is getting richly valued, while they think the United Arab Emirates has bottomed out after a volatile few months, a Reuters survey showed. The Saudi stock market index has jumped 13 percent since authorities announced in late July that they would open the market to direct investment by foreign institutions in the first half […]

September 01

India Takes

INDIA INC CEOs CHEER NARENDRA MODI, BUT EXPECT MORE ACTION

Prime Minister Narendra Modi is yet to finish his first 100 days in office, but India Inc CEOs are convinced an economic revival is around the corner. A huge majority of 50 CEOs ET polled in the run-up to this special edition are preparing to make fresh investments and are also stepping up hiring, all in anticipation of 6-8% GDP growth most feel is possible over […]

August 28

Banking & Finance

Global investors engage with sukuk issue market

A revival of international bond issues from the Gulf is set to draw heavy demand from local and foreign investors, despite the latest geopolitical upheavals in the Middle East and the approach of higher U.S. interest rates. Gulf bond issuance has dried up since early July, because of a traditional summer lull in local investor activity as well as global market instability due to the crisis in […]

August 25

India Takes

MINISTRY OF DEFENCE RECONSIDERING BLACKLISTING POLICY

VISAKHAPATNAM: In February 2013, Italian prosecutors arrested Giuseppe Orsi, the chief executive of Italian defence multinational, Finmeccanica on suspicion of paying bribes to facilitate the sale of VIP helicopters to India. Since then, the ministry of defence (MoD) has been in a quandary about whether to blacklist Finmeccanica and all its subsidiaries, or only AgustaWestland, the subsidiary that built and sold the AW-101 helicopters to India. […]

August 25

Shock over London becoming ‘exporter of extremists’

The execution of U.S. journalist James Foley by someone with a British accent has sparked soul-searching in the U.K. as to how and why the country has become an exporter of extremists to the Middle East. Prime Minister David Cameron vowed to redouble efforts to stop radicalized Britons traveling to Iraq and Syria to “take part in extremism and violence.” “The fundamental problem is as long as […]

August 24

Middle East

Letter From Europe: For David Cameron, Tangles of Horror in Iraq and Syria

Letter From Europe Britons, including Anglican clergy members worried about the plight of beleaguered Iraqi Christians, accuse Prime Minister David Cameron of incoherence. By ALAN COWELL August 21, 2014 LONDON — For a century and more, Iraq has been the graveyard of Western dreams, often literally, from the defeat of British colonial forces in the First Battle of Kut in 1916 to the bloodshed that flowed from the American-led […]

August 21

Ymdi: New App Helps Navigate Saudi Life

Here’s one of the usual everyday life frustrations if you live in Saudi Arabia: You want to eat cereal. You open the fridge and realize you’re out of milk. You get dressed, get in your car and drive to the supermarket. Then the moment your reach the supermarket, they close for prayer. The kingdom is the only Muslim country in the world where all businesses must be […]

August 21