LEBANON. Economena Analytics, a specialized economic information provider, released its Lebanese Economic Outlook (LEO) for the second quarter of 2015. Key forecast findings show heightened levels of pessimism in recent months, with growth forecasts for 2015 falling to 1.5% in the Q2 survey from 2% at the start of the year. The findings are based on the views of 17 leading Lebanese economists. None of the surveyed […]
MUMBAI India’s oldest and most distinguished IT firms are doing what would have been almost sacrilegious a few years ago – holding coding marathons to develop innovative fixes and deploying “commando” units to resolve clients’ IT woes within hours. Infosys (INFY.NS), Wipro (WIPR.NS) and other Indian IT giants, which rose to prominence during the outsourcing boom in the 1990s and 2000s, have struggled to keep pace with […]
Visitors at the exhibit “A Brief History of Humankind” at the Israel Museum. The museum is Israel’s largest cultural institution, presiding over Jerusalem from a hilltop site alongside the Knesset and the Supreme Court. By ISABEL KERSHNER June 17, 2015 JERUSALEM — A softly lit case displays a small, gnarled implement that is said to be the world’s oldest known complete sickle, dating back 9,000 years. On a wall […]
Kashmir killings raise fears of new bloodletting. Full Article India’s patent regime should not change – Cipla CEO. Full Article India raises duties on some steel products to counter Chinese imports. Full Article Bandhan, India’s newest bank, to launch operations in August. Full Article Greenpeace India admits failures after staff claims of rape, sexual harassment. Full Article Hong Kong debates election reform plan with veto likely. Full Article Swiss FIFA inquiry investigates 53 […]
By KAREEM FAHIM June 16, 2015 BAGHDAD — Al Qaeda’s affiliate in Yemen released a video statement on Tuesday confirming the death of its leader, Nasser al-Wuhayshi, in an American missile strike last week. His death was also confirmed by the Obama administration on Tuesday. Mr. Wuhayshi, 38, who had led Qaeda operations in Yemen since 2002 and was also the global extremist network’s second-ranking leader, was killed along […]
The black flag of the Islamic State, left, flew over Tal Abyad, Syria, on Tuesday. After Kurdish and rebel fighters took over the town later Tuesday, they hoisted a Kurdish militia flag. By BEN HUBBARD June 16, 2015 ISTANBUL — Kurdish militias and rebel fighters on Tuesday took full control of the strategic Syrian town of Tal Abyad on Turkey’s border, striking a blow against the Islamic State and expanding […]
OMA Emirates implements Ingenio terminal for NBO SHARJAH, 14 hours, 16 minutes ago OMA Emirates, a provider of cutting edge technology for the payment industry, has implemented its Ingenico Point of Sales (POS) solution for National Bank of Oman (NBO). The technologically advanced payment terminal from Ingenico used by OMA Emirates – Solution Gulf that works on multi communication protocol will make it possible for mobile and […]
Phoenix Power $146m IPO heavily oversubscribed MUSCAT, 10 hours, 58 minutes ago The flotation of Phoenix Power Co, owner of Oman’s largest power plant, has been heavily oversubscribed, attracting over RO1 billion ($2.6 billion) of bids from investors, the state-run Oman News Agency (ONA) reported on Sunday. The company sought to raise RO56.3 million ($146.3 million) by offering a 35 per cent stake in an offer open […]
EFG-Hermes launches leasing subsidiary CAIRO, 11 hours, 6 minutes ago Egypt’s EFG-Hermes, one of the Middle East’s largest investment banks, said on Sunday it had launched a wholly-owned subsidiary, EFG Hermes Leasing, that would start operations immediately. The firm said in a statement that the subsidiary would provide leasing services to large corporates and small and medium enterprises across Egypt. The size of the portfolio of EFG-Hermes […]
BAHRAIN. On June 12, 2015, Standard & Poor’s Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain at ‘BBB-/A-3’. We also affirmed our long- and short-term foreign and local currency credit ratings on the Central Bank of Bahrain at ‘BBB-/A-3’. The outlooks on both Bahrain and its central bank remain negative. RATIONALE We expect that Bahrain’s fiscal […]
“I don’t discriminate with music,” says Mannan Alawar with a laugh, “as long as it’s good.” Whether he is reinventing the UAE national anthem on electric guitar for a YouTube audience or leaping into a crowd mid-solo, Alawar is hardly the average Emirati banker. The 24-year-old is a musician at heart, dividing his time between his day job, several bands and finishing a business degree. When he […]
Actors preparing for “1945,” a play produced by Al-Midan Theater after one inspired by the case of a convicted murderer generated protests. By DIAA HADID June 13, 2015 HAIFA, Israel — The play had been staged many times for Arabic-speaking audiences in Israel without controversy. But a performance with Hebrew subtitles for a wider audience was all it took to touch off a major furor. The play, “Parallel Time,” […]
A man types on a computer keyboard in Warsaw in this February 28, 2013 illustration file picture. Reuters/Kacper Pempel/Files WASHINGTON China-linked hackers appear to have gained access to sensitive background information submitted by U.S. intelligence and military personnel for security clearances that could potentially expose them to blackmail, the Associated Press reported on Friday. In a report citing several U.S. officials, the news agency said data on […]
Video | Orange’s Boss Meets With Netanyahu Stéphane Richard, the chief executive of Orange, the French telecom giant, tells Israel’s prime minister that he regrets the furor caused by his statements about doing business in the country. By JODI RUDOREN June 12, 2015 JERUSALEM — The chief executive of a French telecommunications company made an extraordinary personal pilgrimage on Friday to apologize to Prime Minister Benjamin Netanyahu of Israel, […]
A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai, March 4, 2015. Reuters/Shailesh Andrade/Files MUMBAI Regulators hope plans for a new bourse with less stringent listing requirements will lure a stream of startups in the country’s burgeoning technology industry, looking for a platform to raise capital for expansion. The eased rules, marking a change […]
UAE. Dubai private sector companies indicated a modest rebound in output growth from the 18-month low recorded during April, according to the latest Emirates NBD Dubai Economy Tracker™ report. The latest survey also pointed to a slightly faster expansion of incoming new work, while modest job creation and positive sentiment regarding the business outlook was sustained. Of the three key sub-sectors monitored by the survey, construction was […]
UAE. Invesco today released its third annual Invesco Global Sovereign Asset Management Study[1], an in-depth report on the complex investment behaviour of sovereign wealth funds, conducted amongst more than 50 individual sovereign investors across the globe representing $7.09 trillion2 of assets, including Middle East based sovereign wealth funds. This year’s study took place against a backdrop of an extreme fall in the price of oil and provides […]
Al Hilal Bank opens new branch in Masdar City ABU DHABI, 6 days ago Al Hilal Bank has inaugurated its new brand in the Masdar City, a mixed-use project being developed in Abu Dhabi which is envisioned to emerge as a sustainable eco-city. The branch aims at highlighting Al Hilal Bank’s commitment to introducing products, services and facilities that are environmentally friendly and powered by state-of-the-art technology. […]
Bond issue … big shift in Saudi economic policy. Saudi may issue government bonds this year DUBAI, 6 days ago The Saudi Arabian government may resume issuing bonds this year, easing downward pressure on the country’s foreign reserves caused by low oil prices, a senior International Monetary Fund official said after talks with Saudi officials. “The sense we had is this year,” Tim Callen, chief of the […]
Renovations have started at a 9.5-acre compound in the West Bank that started as a church-run hospital in the 1950s and later became a hostel for travelers. By JODI RUDOREN June 9, 2015 NEAR EL AROUB REFUGEE CAMP, West Bank — The old stone compound set amid Palestinian farmland between the cities of Bethlehem and Hebron has a relatively new fence. The compound, with eight buildings spread over 9.5 […]
Tech giant Apple’s annual Worldwide Developers Conference (WWDC) kicked off Monday at the Moscone West convention center in San Francisco with the headlining keynote address. Among the topics discussed during the address were new capabilities for OS X, updates coming to iOS, native apps for the Apple Watch, a streaming music service, and a new version of the watchOS operating system. At the event, Apple also introduced […]
|TAP Special| Sections of public opinion in the Arab Gulf see anti-Arab bias and the grudge in losing the bid for hosting World Cup as the main motivation for the campaign against Qatar in the award of 2022 tournament. As it becomes increasingly clear that the corruption scandal can have very negative implications for the hosting of the tournament, the Arab public opinion is also becoming more […]
